Summit CPA

APRIL 25, 2023

A Conversation with Consultant and Author Traci Schubert Barrett about: "How to Thrive in Your Second Act" I like to lose clients – in a good way, of course. Last year we had about ten, and this year we’re expecting another ten clients who are selling their business. It’s something I get excited about, professionally, because it means we’ve done our job for our clients by helping them grow to the point where selling makes sense.

cpas 52

cpas CPA Account accountant 52

RogerRossmeisl

APRIL 25, 2023

Recently, the Financial Crimes Enforcement Network (FinCEN) told U.S. financial institutions to exercise caution when processing paper checks because they might be fake. Paper checks? Didn’t those go the way of the dodo? Jokes aside, electronic transfers have indeed replaced paper checks for many consumer and business payments. Yet paper checks are still used at many businesses and check fraud has been increasing.

CPA 246

CPA 246

TaxConnex

APRIL 25, 2023

We are excited to announce that we have won the Best of Accounting Award for providing superior service to their clients. ClearlyRated's Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of 2023 Best of Accounting winners are more than 1.7 times as likely to be satisfied than those who work with non-winning firms.

Account 130

Account accountant accounted CPA 130

RogerRossmeisl

APRIL 25, 2023

If you’re thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved, there are a couple of options to consider. Let’s take a look at a “simplified employee pension” (SEP) or a “savings incentive match plan for employees” (SIMPLE). SEPs are intended as an attractive alternative to “qualified” retirement plans, particularly for small businesses.

CPA 235

CPA business tax Tax 235

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Account

CPA Practice

APRIL 25, 2023

Academics from 187 universities wanted to know how an AI chatbot would do on accounting exams. Recently, Open AI’s newest chatbot, GPT-4, which uses machine learning to generate natural language text, passed the bar exam with a score in the 90th percentile, passed 13 of 15 AP exams, and nearly got a perfect score on the GRE Verbal test, according to the folks at OpenAI.

managerial accounting 126

managerial accounting Account accountant accounted 126

RogerRossmeisl

APRIL 25, 2023

If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax rules may come into play in connection with such contributions. Basic rules Your deduction for a charitable contribution of art is subject to be reduced if the charity’s use of it is unrelated to the purpose or function that’s the basis for its qualification as a tax-exempt organization.

Tax 234

Tax Hospitality CPA 234

RogerRossmeisl

APRIL 25, 2023

Benchmarking — or comparing a company’s financials to those of industry peers and its own historical performance — can provide insight into future cash flows and operating risks. Business valuation professionals use the following types of benchmarks to assess company-specific risk and, in turn, a subject company’s expected return. Profitability Profitability metrics evaluate how much money the subject company earns from each dollar in revenue.

CPA 221

CPA Tax Sales 221

Going Concern

APRIL 25, 2023

If you happen to pursuing the internet today and see the exciting headline about NASBA increasing the time you have to pass the CPA exam from 18 months to 30 months , there is a bit of critical information you need that you might miss if you don’t read the article: current exam candidates remain under existing rules until, if and when, the board to which they applied makes changes.

CPA 104

CPA Minnesota cpas public accounting 104

RogerRossmeisl

APRIL 25, 2023

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax. It’s a good idea to keep the actual returns indefinitely. But what about supporting records such as receipts and canceled checks?

tax return 147

tax return Tax audit CPA 147

Going Concern

APRIL 25, 2023

It’s promotion time at Deloitte and what is usually a time of celebration has devolved into disappointment and confusion for many. We’ve been tipped to unexpected promotion results and pointed to a thread on r/Deloitte that breaks it down: I just met with my coach and although I was rated as strong in all categories, the firm has decided to defer my promotion for 1 year.

audit 104

audit Tax 104

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Canopy Accounting

APRIL 25, 2023

One of the great benefits of a cloud-based software is that feature updates can happen regularly and nearly instantaneous. At Canopy, feature enhancements are highly influenced by customer feedback ( tell us what you want ) because we believe that you can have the firm you've always wanted with Canopy.

98

98

CPA Practice

APRIL 25, 2023

The Conference Board Consumer Confidence Index fell in April to 101.3 (1985=100), down from 104.0 in March. The Present Situation Index —based on consumers’ assessment of current business and labor market conditions—increased to 151.1 (1985=100) from 148.9 last month. The Expectations Index —based on consumers’ short-term outlook for income, business, and labor market conditions—fell to 68.1 (1985=100) from 74.0.

Technology 89

Technology 89

AccountingDepartment

APRIL 25, 2023

Not all business owners are well versed in invoicing clients, collecting payments, tracking payments, or other bookkeeping tasks - and that's okay.

Technology 79

Technology bookkeeping accounts payable Account 79

CPA Practice

APRIL 25, 2023

Good news for those taking the CPA exam: When CPA candidates pass the first section of the exam, they will be given an additional year to conquer the remaining three sections without losing credit. That’s because the board of directors of the National Association of State Boards of Accountancy (NASBA) approved an amendment to the Uniform Accountancy Act (UAA) Model Rules on April 21 that provides CPA exam-takers a rolling 30-month period to finish the other three sections of the exam, up from 18

CPA 89

CPA Education cpa firm tax accountant 89

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

IgniteSpot

APRIL 25, 2023

Understanding Why Workers Are Leaving Punch in, punch out, and collect a paycheck. Not only do most of us not use punch cards anymore, but our priorities have changed, so we expect our jobs to be fulfilling in a wider variety of ways. The result? Workers are calling it quits more easily and often.

60

60

CPA Practice

APRIL 25, 2023

Organized retail crime (ORC) is a perpetual and burgeoning problem for the U.S. retail industry, and evidence suggests it is growing in both scope and complexity, according to a new report by the National Retail Federation. The report, Organized Retail Crime: An Assessment of a Persistent and Growing Threat , was conducted in partnership with K2 Integrity, a global risk advisory firm.

Retail 69

Retail Finance Sales 69

ThomsonReuters

APRIL 25, 2023

On April 12, 2023, the U.S. Bureau of Labor and Statistics (BLS) announced that the Consumer Price Index (CPI) increased 0.1% in March and increased 5.0% over the last year, which was the smallest increase since the period ending May 2021. The CPI and payroll are intertwined in a variety of ways. Employers and payroll professionals look to these monthly numbers to make changes and adjustments to payroll systems and also to forecast possible impact on the business in the near future.

payroll 59

payroll income tax Tax California 59

Summit CPA

APRIL 25, 2023

A Conversation with Consultant and Author Traci Schubert Barrett about: "How to Thrive in Your Second Act" I like to lose clients – in a good way, of course. Last year we had about ten, and this year we’re expecting another ten clients who are selling their business. It’s something I get excited about, professionally, because it means we’ve done our job for our clients by helping them grow to the point where selling makes sense.

cpas 52

cpas CPA Account accountant 52

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

Dent Moses

APRIL 25, 2023

On March 20 th , the IRS issued a warning to promoters and businesses making aggressive claims for employee retention credits (“ERC”). These aggressive ERC refund claims have been added to the 2023 Dirty Dozen list of tax scams. The following excerpts were included in the IRS news release: “Blatant attempts by promoters to con ineligible people to claim the credit” “Promoters who have been blasting ads on radio and the internet touting refunds” “These promotions can be based on inaccurate infor

audit 52

audit Tax Construction Account 52

Canopy Accounting

APRIL 25, 2023

What's new: Streamline the way you view your client data with these new updates. Layout and design has changed to make it easier for you to view your data and interact with it. Resize columns, show and hide columns, infinitely scroll, and search directly on the client list page.

52

52

CPA Practice

APRIL 25, 2023

A South Carolina return preparer has pleaded guilty, after his jury trial had begun, to two counts of filing false tax returns. According to court documents and evidence presented at trial, Jeffrey Harmon of Lexington, South Carolina, owned and operated TFL Worldwide, a tax preparation business through which he willfully prepared and filed returns for clients that claimed fraudulent deductions relating to, among other things, rent, utilities, meals, gifts, dues, and depreciation.

South Carolina 52

South Carolina tax return Tax tax preparation 52

Withum

APRIL 25, 2023

Are you experiencing connection issues between Oracle NetSuite and Avalara? A recent bundle upgrade may be the root cause. But have no fear, Withum consultants are here! First, check your NetSuite version. The rolling upgrades to version 2023.1 are in progress and may have already been completed on your account. To check your version, navigate to your home dashboard screen and scroll down to the bottom.

NetSuite Integration 52

NetSuite Integration NetSuite audit Tax 52

Advertiser: Paycor

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

Menzies

APRIL 25, 2023

Menzies LLP - A leading chartered accountancy firm. Have you tested the market by completing a few overseas projects or selling through a distributor? Are you now contemplating setting up business abroad? Setting up abroad sounds relatively simple, but what do you need to know before you take the plunge? Expanding business operations in certain countries can be achieved in less than 24 hours, while in other countries the process is timing-consuming and bureaucratic.

corporation tax 52

corporation tax Non-Profits chartered accountant Tax 52

Withum

APRIL 25, 2023

Internal controls are not confined to just accounting and financial reporting; they are also part of ESG reporting requirements. ESG information is becoming equally important and requires an equally robust control structure, and failures in ESG reporting, the endpoint of internal controls, can be costly. If material misstatements are made during ESG reporting, directors can be sued, customers become disenfranchised, and management makes decisions using incorrect information.

Delaware 52

Delaware accounting and finance financial statements B2B 52

Accounting Insight

APRIL 25, 2023

Excited to exhibit at Accountex London are All in Place. Their framework, cashflow and reporting tool helps business owners guide their clients to better financial outcomes. They help with private client work from remuneration and liquidity, to exit and profit extraction. What do All In Place do? We offer a secure framework enabling accountants to develop truly integrated business and personal financial plans for their clients.

accounting and finance 52

accounting and finance Finance Start-ups Account 52

Basis 365

APRIL 25, 2023

As a business owner, managing your finances and keeping accurate records of your transactions is crucial for the success of your venture. However, accounting can often be complex and overwhelming, especially if your books could be more well-organized. This is where the concept of "cleaning up the books" comes into play. Let's explore what it means to clean up the books and why it is essential for simplifying your accounting processes.

Account 52

Account accountant accounted accounting software 52

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Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

Finance

Anders CPA

APRIL 25, 2023

Both businesses and individuals have become much more wary in recent years about securing their technology after facing increasingly sophisticated cyber-attacks. Security measures like two-factor authentication (2FA) help ensure there’s no unauthorized access to your organization’s network. One common form of 2FA, SMS 2FA, has a number of security flaws associated with it, making it imperative to consider alternative methods of 2FA outside of SMS verification.

CPA 52

CPA Account accountant accounted 52

Cherry Bekaert

APRIL 25, 2023

GASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITA), is in effect for fiscal years beginning after June 15, 2022. This podcast episode will focus on GASB 96 implementation and its implications in airports. Scott Anderson , a Director on Cherry Bekaert’s Government & Public Sector (GPS) team who has recently returned from his GASB fellowship, and Jim Holman , Digital Advisory Services Strategy & Operations Leader, sat down with Danny Martinez , Governme

accounting standards 40

accounting standards Government Technology Account 40

Mark Lee

APRIL 25, 2023

Imagine you are at an accountancy conference along with dozens, maybe hundreds of accountants from other practices or who run their own firms. Now imagine I have asked you to look around the room at those other accountants and to indicate whether you feel that you are in any way special and different from most of the other accountants you can see. When I do this at conferences it is very common for only a few hands to go up.

Account 52

Account accountant accounted tax return 52

RitaKeller

APRIL 25, 2023

“If the outside is changing faster than inside your org, you are dying.” – Jack Welch I have observed that CPAs let themselves be bullied by some of their clients. Not all CPAs, but many CPAs. Clients make unreasonable demands. Clients do not respond to our requests. Clients don’t pay you on time or at all. Clients believe you should go above and beyond for no additional fees.

cpas 40

cpas CPA Education 40

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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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