Basis 365
SEPTEMBER 12, 2023
Accounting may not be the topic of choice for new or growing businesses. However, good accounting will keep the business going and ready for the future. With a strong accounting department, a business can survive. Making the right decisions as an owner or manager will help a business succeed. Here are five everyday decisions for growing and new businesses.
Accounting Today
SEPTEMBER 13, 2023
Not looking out for insider threats can cost a company dearly.
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Ryan Lazanis
SEPTEMBER 13, 2023
As I shared numerous times before, I love the idea of presenting clients with Gold, Silver, and Bronze options for personal tax preparation services. However, in this episode, our focus will be on highlighting some of the additional features you can provide and discussing how to present them, rather than demonstrating how to bundle them together. Listen Below. 0:51 – Out of all the services I offer, standalone personal tax preparation services are probably the ones I like the least.
Airbase
SEPTEMBER 14, 2023
Your single source of truth needs good data to live up to its title. As companies increasingly rely on transaction software to handle certain operations outside of the ERP, strong integrations from these systems to the ERP are essential for efficient and accurate ledger bookings. However, finance teams are inevitably plagued by errors as data fails to flow accurately, completely, or from one system to another.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
Xero
SEPTEMBER 13, 2023
We are pleased to share the key findings from our study of the accounting and bookkeeping sector. This report involved engaging with over 600 accounting and bookkeeping professionals practising across the UK, from sole practitioners to large practices. Despite global economic uncertainty and rising inflation, this sector has shown remarkable growth and resilience.
Insightful Accountant
SEPTEMBER 11, 2023
In the second track from 'Future Forward September 2023,' K2 Enterprises' Randy Johnston demystifies AI and unveil its practical applications, transforming it from theory into a hands-on tool. Sign up here.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
SEPTEMBER 11, 2023
The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.
Shay CPA
SEPTEMBER 13, 2023
When your tech startup is young and scrappy, people wear a lot of hats. In fact, in its early days, you might have even overseen the company’s finances. As you grow, though, you want to bring in people with the required expertise to continue scaling successfully. And when it comes to your company’s financial function, that means bringing in people with a specific background, like a controller and a chief financial officer (CFO).
CPA Practice
SEPTEMBER 11, 2023
By Joy Taylor, Kiplinger Consumer News Service (TNS) More people each year pay this pesky tax: The 3.8% surtax on net investment income (NII). The tax, which was enacted as part of Obamacare, applies to single filers with modified adjusted gross incomes (AGIs) above $200,000 and to joint filers with modified AGIs over $250,000. The income threshold is $125,000 for married people filing separately.
RogerRossmeisl
SEPTEMBER 14, 2023
As appearing in IRS IR-2023-169 To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Tax Credit (ERTC) processing amid surge of questionable claims Concerns from tax pros, aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system Moratorium on processing of new claims through year’s end will allow IRS to add more safeguards to prevent future abuse, protect businesses from predatory tactics; IRS working with Justice
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
TaxConnex
SEPTEMBER 14, 2023
Are subscriptions taxable? Depends on what they’re for and where they’re delivered. Over the past few years, subscription box services, for instance, have exploded in popularity as buyers have signed up for regular delivery of everything from food, makeup, music, books, pet supplies, flowers, clothes and more. This industry has ridden the wave of eCommerce to join long-established subscription markets for publications and memberships.
BurklandAssociates
SEPTEMBER 11, 2023
Startups should invest their excess capital with the objective of earning market-based returns on near risk-free instruments. The post Low-Risk Investment Instruments for Venture-Backed Startups appeared first on Burkland.
MyIRSRelief
SEPTEMBER 15, 2023
1. What is an IRS bank levy? An IRS bank levy is a legal action taken by the Internal Revenue Service (IRS) to collect unpaid taxes. When the IRS levies your bank account, they freeze the funds in it and eventually withdraw the amount owed to satisfy your tax debt. 2. Why would the IRS levy my bank account? The IRS may levy your bank account for various reasons, including: a.
Airbase
SEPTEMBER 15, 2023
Unicorn companies all have different origin stories, but most growth paths share a similar landscape, one that is covered with obstacles and navigated at a breakneck pace — straining people, processes, and systems. Things get done reactively, with ad hoc procedures developed to keep moving. Even after reaching unicorn status, the resulting chaos isn’t sustainable, can easily lead to burnout, and may not support continued growth.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
TaxConnex
SEPTEMBER 12, 2023
TaxConnex is excited to announce that we have launched a new app for Shopify users to easily pull data out of Shopify for a better returns filing process. The new app, eConnex, gives Shopify users a simple way to get their sales tax data out of Shopify and upload it into TaxConnex's Client Connexion for easy returns filing. As an outsourced sales tax department for businesses with a sales tax obligation, TaxConnex removes the burden of sales and use tax returns filing by completely managing it
SMBAccountant
SEPTEMBER 11, 2023
Purchasing is an important function for any size business, whether large or small, because it has a direct impact on costcontrol, efficient operations, quality, and vendor relationships. Failure to follow best practices when purchasing goods and services can expose a small business to compliance violations, cash flow problems and missed savings opportunities.
CPA Practice
SEPTEMBER 12, 2023
Big 4 accounting firm Deloitte and Bitwave, an enterprise accounting platform for digital assets, have announced a strategic alliance that brings together Bitwave’s software platform with Deloitte’s accounting, tax and governance, risk and controls advisory services, to help deliver speed and process efficiencies, cost savings and compliance enhancements to businesses that utilize digital assets.
Going Concern
SEPTEMBER 11, 2023
Deloitte Australia’s 1,000 or so partners gathered in Adelaide at the end of August and according to Sydney Morning Herald reporting ahead of the totally-business-and-not-pleasure gathering, it was absolutely in no way whatsoever a party. Per Deloitte themselves. Consulting giant Deloitte is holding a big partner bash from Thursday, flying in more than 1000 partners and nearly booking out a couple of five-star hotels in town.
Speaker: David Warren and Kevin O'Neill Stoll
Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng
Withum
SEPTEMBER 14, 2023
The IRS continues to pound the table with its most recent press release on employee retention credit (ERC) claims. On September 14, 2023, the IRS announced a moratorium on processing new ERC claims until at least 2024. It wants to “protect against fraud but also to protect the businesses from facing penalties or interest payments stemming from bad claims pushed by promoters.
Accounting Today
SEPTEMBER 13, 2023
The American Institute of CPAs is teaming up with other groups to help accountants cope with natural disasters, as well as learn more about the environmental, social and governance area.
CPA Practice
SEPTEMBER 12, 2023
By Paul S. Hamann. As many of us in the accounting profession have learned over the years, and especially in the current environment of talent scarcity, structuring a high-performing team in your firm is no easy feat. Whether you have worked to build an engaging and effective culture or not, your practice has a culture. I know from my experience in building companies over the years, each part of the culture-building process needs to be intentional if you want your culture to positively contribut
Going Concern
SEPTEMBER 15, 2023
Chattanooga Times Free Press has written quite the story about legacy accounting firm Croft & Frost abruptly laying everyone off earlier this week after months of issues making payroll. Thanks to the tipsters who sent this over because holy s**t. CTFP: Several emails obtained by the Chattanooga Times Free Press show a period stretching between late May to the present in which the company was continually failing to pay employees on time, even as its CEO Jonathan Frost and other leaders assure
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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.
Withum
SEPTEMBER 11, 2023
It’s that time of year when extended pass-through business returns are being finalized, and owners are beginning to receive their K-1s. If you are one of those owners, have you ever looked at your K-1? Do you know what information is being provided to you? To move forward on explaining your K-1, we first must take a step back. Businesses that are structured as LLCs (that haven’t elected C status), partnerships or S corporations are all considered pass-through entities.
Accounting Today
SEPTEMBER 15, 2023
The Internal Revenue Service is asking for comments from business taxpayers and their advisors about ways to improve and expand its programs for resolving tax issues upfront before companies run into compliance problems.
CPA Practice
SEPTEMBER 14, 2023
A rash of bogus employee retention credit (ERC) claims in recent months has prompted the IRS to put the program on hold through at least Dec. 31. IRS Commissioner Danny Werfel ordered the immediate moratorium today and said the agency “could no longer tolerate growing evidence of questionable claims pouring in.” “The IRS is increasingly alarmed about honest small business owners being scammed by unscrupulous actors,” he said in a press release.
Going Concern
SEPTEMBER 14, 2023
The IRS announced today that it has issued an immediate moratorium on processing new employee retention credit claims at least through the end of the year. The agency cited “rising concerns about a flood of improper Employee Retention Credit claims,” driven by “aggressive promoters,” as the reason for closing the door on ERC claims.
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
Insightful Accountant
SEPTEMBER 11, 2023
Murph is prone to repeating himself these days. That's especially so when it comes to important clues, like "don't miss training opportunities" for Top 100 2024.
Accounting Today
SEPTEMBER 13, 2023
The Securities and Exchange Commission has proposed upgrading the EDGAR system to, among other things, shift from a per-company login system to a per-individual one.
CPA Practice
SEPTEMBER 14, 2023
Bloomberg Tax & Accounting released its 2024 Projected U.S. Tax Rates, which indicates inflation adjusted amounts in the tax code will increase 5.4% from 2023. While this is a slight decrease from the 7.1% increase in 2023, it is nearly double the 2022 increase of 3%. The full report is available at: [link]. [See projected tax bracket tables below.
Going Concern
SEPTEMBER 14, 2023
As we all know, EY had a tough year. Mostly due to their own choices, choices that led to the professional services equivalent of a wet fart. Despite the proposed audit and consulting split falling apart and leaving a $500 million dollar hole in the firm’s pocket, they still had “one of the most successful years in the history of the organization with record global revenues and continued significant growth.” EY has announced combined global revenues of $49.4 billion for the fin
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
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