Canopy Accounting
MAY 23, 2023
The accounting profession has always been challenging and demanding, requiring much time, dedication, and attention to detail. However, in recent years, there has been a growing trend of accountants quitting their jobs and leaving the industry altogether. And there are fewer students graduating with accounting degrees. This trend is concerning for firms, clients, and the industry as a whole.
Basis 365
MAY 23, 2023
As the business world becomes increasingly fast-paced and complex, CFOs (Chief Financial Officers) always seek ways to maximize efficiency and cut waste. One solution that many CFOs are turning to is outsourcing their company's accounting and accounting tasks. In this blog post, we will discuss why CFOs love outsourced accounting services and the many benefits that they provide.
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Withum
MAY 23, 2023
Within the vast and quickly changing world of internet technology, some of the most recent conversations include a discussion of Web 3.0, including crypto, NFTs (Non-Fungible Tokens), the metaverse and blockchain. So, what exactly is Web 3.0, and how will it impact the internet and the valuation of startup companies operating in Web 3.0? To answer this question, we begin with a survey of Web 1.0 and 2.0.
Accounting Insight
MAY 22, 2023
Hello to the holiday season. Easter and the Coronation are behind us but a further bank holiday looms in coming weeks, alongside the hottest months of the year, when a lot of employees chose to take their annual leave. Everyone, including payroll and accountancy professionals, love to take a break. But unfortunately holiday pay is often one of the most time-consuming and headache-inducing parts of running a business’ books.
Speaker: Danny Gassaway and Wayne Richards
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
Going Concern
MAY 24, 2023
If the headlines are to be believed, humanity is mere months away from being enslaved by artificial intelligence or, at the very least, being permanently unemployed (cue sounds of the Going Concern audience celebrating here). You may have seen clickbait articles about entire marketing departments being turfed in favor of ChatGPT (we never liked the people in marketing anyway!
Menzies
MAY 24, 2023
Menzies LLP - A leading chartered accountancy firm. Jonathan Bass , Partner, Matthew Watkins , Director, and Stephen Hemmings , Partner at Menzies, discuss recent tax announcements made in the Spring Statement, covering the changes that are underway, in areas such as R&D and tax disputes. The podcast will discuss what the changes could mean for you and your clients, as well as discussing HMRC’s increased scrutiny, and the range of options that are available to you to deal with HMRC.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
MAY 22, 2023
By Adam Goran. What comes to mind when you think of the IRS, or the International Revenue Service, in America? Most people think about taxes and tax season—and the piles of paperwork and forms that coincide. But what if the IRS was more digitized? Well, they’re trying to do just that. Last month, the IRS put out a news release stating they are trying to become a “digital first” organization.
BurklandAssociates
MAY 23, 2023
Maintaining accurate and complete financial records is critical for compliance, business intelligence, and investor due diligence. The post What are the Important Financial Records for Startups to Keep? appeared first on Burkland.
Insightful Accountant
MAY 23, 2023
B2B CFO's Don King continues his multi-arc series on explaining why mastering these areas will help management monitor their financial performance and identify areas for improvement—among other things.
MyIRSRelief
MAY 24, 2023
What is an IRS CP14 notice? An IRS CP14 notice is a letter sent to taxpayers who owe money to the IRS. The notice will state the amount of tax due, as well as interest and penalties. The IRS will also provide instructions on how to pay the amount due. What does the IRS CP14 notice look like? The IRS CP14 notice is a white letter with a blue header. The letter will be addressed to the taxpayer and will include the taxpayer’s Social Security number or taxpayer identification number.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Going Concern
MAY 24, 2023
Ed. note: this article’s headline has been changed as we don’t actually know if he got fired or not. Neerabh Mehrotra, formerly Associate Director at Deloitte India, has been let go after he gushed over Adolf Hitler’s charisma, intelligence, and confidence on LinkedIn. The post: Text transcription, courtesy Google Lens: Friday Inspiration Recently I picked up a book on Adolf Hitler “The Dark Charisma of Adolf Hitler” by Laurence Rees.
CPA Practice
MAY 26, 2023
The IRS has announced that it’s “open season” on false claims for the Employee Retention Credit (ERC). It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023.
TaxConnex
MAY 25, 2023
Sales tax is complex for businesses of all sizes. If you are a business with customers in multiple states, your scope and risk grows in accordance with the number of states and the sales tax complexities in those states. Sales tax obligations begin with whether you have nexus in a state or other locality. Nexus today largely stems from two main factors – a physical presence or economic presence.
MyIRSRelief
MAY 22, 2023
Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.
Speaker: Jennifer Hill
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
ThomsonReuters
MAY 25, 2023
DaVita Inc. v. Marietta Mem’l Hosp. Emp. Health Benefit Plan, 2023 WL 3452353 (S.D. Ohio 2023) A federal trial court has decided the latest installment of a case in which a large dialysis provider sued a group health plan and its TPA for classifying all dialysis providers as “out-of-network,” resulting in a lower reimbursement rate for them than for providers of other medical services.
CPA Practice
MAY 24, 2023
The American Institute of CPAs (AICPA) has endorsed bipartisan legislation introduced by Representatives Judy Chu (D-CA) and Mike Carey (R-OH) to simplify the tax filing extension process. The Simplify Automatic Filing Extensions (SAFE) Act of 2023 would assist the Internal Revenue Service (IRS) with receiving extensions earlier in the year, providing taxpayers, CPAs and the IRS with a streamlined process and reducing the need for many penalty abatement requests.
TaxConnex
MAY 23, 2023
Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Take diapers. Almost half the states have stopped sales tax on diapers, but these baby products still, despite frequent efforts at repeal, incur sales tax in Maine, Ohio, Michigan, New Mexico, Nebraska, Washington and Nevada.
MyIRSRelief
MAY 24, 2023
What is an IRS CP14 notice? An IRS CP14 notice is a letter sent to taxpayers who owe money to the IRS. The notice will state the amount of tax due, as well as interest and penalties. The IRS will also provide instructions on how to pay the amount due. What does the IRS CP14 notice look like? The IRS CP14 notice is a white letter with a blue header. The letter will be addressed to the taxpayer and will include the taxpayer’s Social Security number or taxpayer identification number.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
Insightful Accountant
MAY 21, 2023
Xero's Ben Richmond shares some takeaways every accountant can glean from the FIFA Women’s World Cup 2023.
CPA Practice
MAY 25, 2023
The IRS has announced that it’s “open season” on false claims for the Employee Retention Credit (ERC). It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023.
Going Concern
MAY 26, 2023
Last week, the AICPA released a revised pipeline acceleration plan , the goal of which is to get more young people into accounting to save the profession from extinction. To save you a click, I’m putting it here. At its spring meeting in Washington this week, the AICPA’s governing body (“Council”) approved this plan. Yay. Cue measured fanfare.
Withum
MAY 23, 2023
Explore Other Episodes The post Decentralized Storage Unveiled – The Future of Cloud Storage With Storj Labs appeared first on Withum.
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
Insightful Accountant
MAY 22, 2023
Intuit has significantly enhanced the custom workflow feature within QuickBooks Online Advanced. Murph shows why the new workflows are easier and better than ever.
CPA Practice
MAY 22, 2023
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) The IRS has scored a win at the U.S. Supreme Court. Last Thursday, the court released its ruling in Polselli v. IRS , involving whether the agency can access bank records of a taxpayer’s relatives or associates—without notice—to help with tax collection efforts. The Supreme Court’s answer is yes.
Going Concern
MAY 25, 2023
Before we get into the situation, please note the issue discussed here is not EY’s fault. Rather, the office tower bearing the firm’s name at 725 South Figueroa Street in downtown Los Angeles has entered receivership after asset management company Brookfield stopped making payments on its debt in April. Commercial real estate firm Colliers has taken control of the 41 stories high, 968,184 square-foot office tower and issued a news release : Colliers is pleased to announce it has been
Xero
MAY 23, 2023
In just a few months, we’re heading back to Sydney’s iconic Darling Harbour for Xerocon 2023! On 23 and 24 August, we’re bringing our partner community together from across the globe for two inspiring days. So what can you expect? As the world’s most beautiful and innovative conference for cloud accounting leaders, this is your opportunity to see world-class speakers and entertainers, hear thought-provoking updates from Xero’s leadership team, and take home practical learnings from the Xero show
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Insightful Accountant
MAY 23, 2023
The solution integrates controls capture directly into financial close and other processes, reducing complexity, costs and compliance implementation and maintenance efforts.
CPA Practice
MAY 23, 2023
By Megan Ulu-Lani Boyanton – The Denver Post (via TNS). The heyday of marijuana sales in Colorado — back in 2020 when recreational and medical sales topped out at a combined $226 million — is a distant memory, as the state’s dispensaries struggle through an economic downturn, with sales plummeting and small businesses foundering. “The market’s just bad.
Going Concern
MAY 23, 2023
EY Global Chairman and CEO Carmine Di Sibio and King Charles III stan showed up on Squawk on the Street today talking about the labor market and, more notably, how the firm is using an AI chatbot to answer payroll questions. The AI segment begins around 3:05. He also discussed hiring, saying they’ve been seeing a slowdown in hiring across the board (he means outside of the firm), “particularly in professional services” (so, in the firm).
Basis 365
MAY 25, 2023
Service-based businesses , such as management consulting firms, marketing agencies, or PR firms, rely on performance metrics to gauge their success. Key Performance Indicators (KPIs) are essential tools that service-based businesses can use to measure their performance, track progress toward goals, and identify areas for improvement. This blog post will discuss some of the most critical KPIs for service-based businesses and explain why outsourcing accounting services is the best option to manage
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