Sat.Jan 07, 2023 - Fri.Jan 13, 2023

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Let’s Start the Year Off With Some Doomsaying Predictions For the Profession in 2023

Going Concern

2022 was not exactly a banner year for accounting but if you don’t count the collapse of FTX, it wasn’t terrible for public perception either. Oh wait, there was that whole EY cheating thing. And a big IRS raid tied to tax incentives. That’s it though right? IDK, if I missed something big let me know. Point is things could be worse.

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How to Increase Efficiency in Your Tax Planning Business

CTP

A key to business growth is finding ways to get more done with less effort. Small business owners are often juggling so many tasks that they struggle to stay focused on what is adding the most value to the business. In theory, you may know that you need to hire help, delegate tasks, and build out processes and automation to handle lower value work. However, when you’re staring down a massive to-do list, taking that first step can feel like scaling a mountain—where do you even start?

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What Real Customers Have to Say About Online Bookkeeping and More

IgniteSpot

Understanding Online Bookkeeping Services. One of the simplest things you can do to get your finances organized is to hire a bookkeeper. Online bookkeeping services take care of the minutiae of recording financial records both correctly and on time.

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Art of Accounting: Do your tax season retrospective now

Accounting Today

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Building a Business Case for Finance Automation

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.

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7 Trends That Could Change the Workforce in 2023

GrowthForceBlog

7 min read. To say the least, the last several years have been tumultuous for businesses around the world. Key Takeaways. Trends That Could Change Your Business in 2023 - Hybrid and Remote Work: If you want to hold onto your employees and attract top-quality candidates in 2023, then it might be necessary to transition to a hybrid office model…. Trends That Could Change Your Business in 2023 - Retention Through Cross-Training, Collaboration: With upskilling, career development, and on-the-job tra

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How to Price Your Bookkeeping

Insightful Accountant

If you haven't booked your spot yet, now is the time to join Mark Wickersham presents 'The Profitable Bookkeeping Conference 2023.

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What You Need to Know for Tax Season 2023 | Canopy

Canopy Accounting

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The Five Benefits Employees Want Most (Other Than Money) in 2023 According to ‘Experts’

Going Concern

The following article was in a recent CPA Letter Daily sandwiched between a JofA piece on how Latino CPAs found strength in numbers (pun intended?) through the ALPFA and BPM transformation officer Lindsay Stevenson talking about remote work and change fatigue on the JofA podcast. Like many articles in this vein, this Bloomberg piece encourages employers to think beyond salary when thinking about talent.

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3rd Annual Sales Tax Market Research Survey Results Released!

TaxConnex

We have completed our third annual survey of top financial professionals on how they are managing sales tax. This year’s results reveal a perfect storm is brewing for financial leaders who continue to depend on internal resources even though expertise and bandwidth is lacking while companies struggle with the current economic climate, rising inflation, and a tight job market.

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California Storm Victims Qualify for Extended Tax Filing Deadlines

RogerRossmeisl

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). This means that individuals and households that reside or have a business in Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Men

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Fall In Love With the Month-End Close

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.

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IRS Says 2023 Filing Season to Start on Jan. 23

CPA Practice

The 2023 tax-filing season will open on Jan. 23—the day in which the IRS will begin accepting and processing 2022 tax year returns, the agency said on Thursday. The IRS said it is expecting more than 168 million individual tax returns to be filed this year, with the majority of those returns coming before the April 18 tax deadline. Taxpayers have three extra days to file in 2023 due to the calendar.

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Invoice Automation: What you need to know.

Airbase

Invoice automation is the process of automating the creation, management, and processing of invoices. The goal of invoice automation is to streamline and automate the invoice process, reducing the time and resources required to manage invoices manually. Benefits of invoice automation. There are several benefits to using invoice automation software, including: Increased efficiency.

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Sales tax and economic nexus in Puerto Rico

TaxConnex

Studies show that some 1.4 million people in the Commonwealth of Puerto Rico (more than a third of population) do their shopping online, with annual online purchases in the U.S. territory now at $458 million. The size of the average online transaction in Puerto Rico has almost tripled in the past six years. It’s a fair bet, then, that sooner or later you’re going to be selling online into Puerto Rico, which has a sales tax.

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Unpacking the Clean Vehicle Credits under IRA ’22

RogerRossmeisl

The Clean Vehicle Credit, brought to you by the Inflation Reduction Act of 2022 (IRA ’22), is the successor to the New Qualified Plug-in Electric Drive Motor Vehicle Credit. The credit generally applies to vehicles having >4 wheels that are placed in service from 1/1/2023 – 12/31/2032. This post is broken down into the following sections: Credits for New Clean Vehicles Purchased in 2023 or After Credits for New Plug-in EVs Purchased before 2023 Used Clean Vehicle Credit Commerci

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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AICPA Says It Was Not Hacked, Refutes Report

CPA Practice

The AICPA said on Thursday that it was not the victim of a cyberattack, days after an article surfaced online stating that threat actors had bragged on an online forum that they compromised an AICPA database with more than 140,000 emails and corresponding passwords. The website Cybernews wrote on Tuesday that cyberthieves had attached samples of the data on the online forum as proof of legitimacy.

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Don’t be hurt by the shortage of accountants. Give them what they need.

Airbase

Is your finance team getting the love and attention they deserve? Typically overworked and underappreciated, finance teams are a serious flight risk. In fact, the Wall Street Journal reports that more than 300,000 accountants and auditors quit over the last two years, and the effects of those losses can be significant. Staffing problems in the finance department can impact an entire company.

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How Startups Can Make $1M Per Year Doing Nothing

BurklandAssociates

With interest rates up, startups should evaluate deploying capital they won’t need for a while into interest-bearing instruments. The post How Startups Can Make $1M Per Year Doing Nothing appeared first on Burkland.

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6 Signs You Are Outgrowing QuickBooks 

Withum

How do you know when your company has grown beyond QuickBooks’ capabilities? Let’s cover the key areas that will help you make an educated decision on when QuickBooks is too small for your growing organization. QuickBooks is one of the world’s most well-known and widely used accounting software solutions that can help turn a simple idea into a full-grown company.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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What Clients Want vs. What Many Firms are Delivering

CPA Practice

By Chris Farrell, CPA. Most practitioners pride themselves on delivering accurate, complete, and timely information to clients, and engaging with them in a friendly and focused way. This earns repeat business and referrals, because compared to a firm who does not deliver in a reliable manner and who might not be as friendly, the positive and timely firm always wins.

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Melancon looks ahead to tax season challenges

Accounting Today

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Three things you may not realise about Xero

Xero

At Xero, our aim is to make life easier for accountants, bookkeepers and small businesses. And we understand that there’s a lot to get your head around, so we’ve shared three key facts about Xero that both new and experienced accounting and bookkeeping users may not have realised. Moving clients to Xero can be efficient and stress-free. There’s a common misconception among accountants and bookkeepers that moving clients to new software, like Xero, can be a costly, time-consuming task.

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IRS Announces Tax Relief for California Taxpayers Affected by Winter Storms

Withum

The IRS announced comprehensive tax relief provisions for taxpayers affected by California’s winter storms. These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. Relief provisions include: Quarterly estimated tax payments due on January 17, 2023 and April 18, 2023; Business tax returns due March 15, 2023 and April 18, 2023; Personal income tax returns due April 18, 2023; Payroll tax returns due January 31, 2023 and April 30, 2023.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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Grant Thornton’s 2021 PCAOB Inspection Report Wasn’t Too Bad

Going Concern

Of the six 2021 PCAOB inspection reports released before the holidays, we ’ve so far taken a look at five: PwC , Deloitte , EY, KPMG , and BDO USA. The last of the bunch belongs to Grant Thornton. We didn’t save the best for last, but it’s not that bad either. From 2016 until its 2020 inspection report, Grant Thornton had an average audit failure rate of about 21%.

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Tax season set to start Jan. 23

Accounting Today

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How to Improve Time Management in Your Tax Planning Business

CTP

As a business owner, how you view and allocate your time plays a major role in the success of your business. When your to-do list is unending and new tasks keep popping up left and right, you may find it difficult to intentionally plan out where you want to devote your time. However, upgrading your use of time can be just the key to unlock greater business growth and personal satisfaction in your work.

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Withum’s State of the Firm 2023: Celebrating Our People and Next Chapter

Withum

January 11, 2023– Withum, a leading advisory and accounting firm, held its annual State of the Firm event on January 10. The event brought team members together in one location from across the globe and also offered a streamed presentation for virtual attendance. This annual meeting was the first Firm event to feature new Managing Partner and CEO Pat Walsh following his transition to the role on January 1.

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Profit in the Details: Rethinking Spend for Monumental Impact

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

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Rumor: Guidehouse Laid Off a Bunch of Old Grant Thornton Partners After the Public Advisory Practice Merger

Going Concern

Back in August when it was announced that Guidehouse would be buying Grant Thornton’s public sector advisory practice , we wondered out loud if layoffs might be expected as they so often are in situations such as these. First, let’s do a quick refresher on the acquisition as reported in August: A tipster reached out to us this morning to let us know the rumor mill is churning over Guidehouse potentially picking up GTPS.

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House votes to strip IRS funds intended to catch tax cheats

Accounting Today

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Meet the Top 7 FP&A Trends for 2023

Insightful Accountant

As financial planning and analysis continues to evolve, keeping up with the trends is critical. Jedox CFO Dr. Björn Schmidt dishes on the top trends for you to watch this year.

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Premier Sports Network Adds Withum as Player Care Partner for Accounting Services

Withum

Premier Sports Network is proud to announce its new agreement with Withum, a Top 25 national accounting firm with expertise in professional athlete accounts. Withum is a forward-thinking, technology-driven advisory and accounting firm committed to helping clients be more profitable, efficient and productive in the modern business environment. Based in the United States and an independent member of HLB International, the global advisory and accounting network, Withum serves businesses and individ

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.