Mon.Sep 11, 2023

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Low-Risk Investment Instruments for Venture-Backed Startups

BurklandAssociates

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.

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Small Business Purchasing Best Practices

SMBAccountant

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.

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According to Deloitte, Partners Crowdsurfing in Mosh Pits is Not a Party

Going Concern

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.

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PwC to take big steps on audit quality, independence, accountability

Accounting Today

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.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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.

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Understanding Your K-1

Withum

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.

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IRS use of AI in tax audits could be a game changer, but with pitfalls

Accounting Today

The Internal Revenue Service will need to tread carefully with how it uses AI amid growing questions about the reliability of the technology.

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The perils of promotions

Accounting Today

Promoting a top performer doesn't always guarantee they'll stay — ADP's Nela Richardson shares how to navigate these transitions better.

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4 Ways to Deduct Commuting Costs from Taxes

CPA Practice

Do you incur expenses commuting to and from work? Generally, you can’t deduct these transportation costs. The IRS views commuting as a purely personal expense even though you’re going to work for business reasons. And it doesn’t matter if you’re driving your own vehicle or if you travel by bus, rail, taxi or a ride service like Uber or Lyft. To qualify for transportation deductions, you must be traveling away from your tax home to a business location.

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Cetera acquires Avantax for $1.2B

Accounting Today

The tax-focused financial planning and wealth management company that partners with accounting firms is going private and joining a larger financial firm.

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Don’t Overlook Tax on Cryptocurrency Staking Rewards

CPA Practice

By Joy Taylor, Kiplinger Consumer News Service (TNS) A man asking a court to rule on the taxation of staking rewards got bad news. A federal appeals court tosses his case. He filed a refund claim alleging that token rewards he got from staking cryptocurrency are created property that is not taxed on receipt but on disposition. The IRS first disallowed his refund claim.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Navigating ESG in the E-Commerce Industry: Sustainability, Responsibility, and Success

Withum

In today’s world, digital commerce is constantly expanding. Due to their convenience and accessibility, new e-commerce storefronts are regularly formed as businesses move away from the traditional brick-and-mortar business model. With their growing influence, it is important to understand how environmental and social governance issues impact the e-commerce business model.

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State CPA Society News & Updates – September 2023

CPA Practice

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. The Wisconsin Institute of Certified Public Accountants or WICPA has announced a series of upcoming conferences including the following: Business & Industry Fall Conference – September 18, 2023 at the Brookfield Conference Center in Brookfield, Wisconsin, which will be livestreamed for those not able to attend the conference in person.

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Top 100 2024 Clues: More Training Opportunities

Insightful Accountant

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.

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Five Simple AI Strategies to Unlock More Freedom and Productivity in Your Practice

CPA Practice

By Shane Westra. Artificial Intelligence, or AI as it is regularly referred to, is undoubtedly the business buzzword of the year. This is for good reason because this technology continues to make many common business functions far more efficient than ever before, including new solutions that can help accounting firms advance their productivity and unlock more freedom for firm owners and employees.

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Planning Your Restaurant's Path to Profitability

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.

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Cohen leads in new SEC clients again

Accounting Today

A March acquisition continued to yield dividends for the Cleveland-based Top 50 Firm; Deloitte and CohnReznick also saw big gains.

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Students Sought for Accounting Internship Preparation Program

CPA Practice

The Illinois CPA Society (ICPAS) is encouraging aspiring certified public accountants (CPAs) to apply for its 12th annual Mary T. Washington Wylie Internship Preparation Program to be held virtually Jan. 3-5, 2024. The award-winning, three-day program aimed at increasing diversity in the CPA profession is now accepting applications until Nov. 6, 2023, at www.icpas.org/mtww.

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Xero Beautiful Business Fund: Ways for accountants and bookkeepers to get involved

Xero

Last month on stage at Xerocon Sydney, we announced that applications officially opened for the Xero Beautiful Business Fund. We’re giving away more than NZ$750,000 to eligible Xero small business customers across Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the UK and the US. While this initiative is targeted at small businesses, our accounting and bookkeeping partners play a key role in driving small business success and we’d love for you to help get your client

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Most Young Americans Want to Lower the Retirement Age

CPA Practice

Among millennials and Gen Zers surveyed, more than half believe the retirement age should be lowered. Of this group, the majority (59%) say the retirement age should be changed to age 60 or lower. Fifty-five percent believe this change should take place for everyone, while the minority favor a slower rollout of the changes over time that would affect younger generations.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Don't offshore. Automate instead

Accounting Today

Leveraging GenAI to automate tasks versus offshoring them is a key competitive advantage.

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CPA Business Funding Portal Supports New SBA Program Rules

CPA Practice

Biz2Credit and CPA.com have updated the CPA Business Funding Portal , a cloud-based platform that helps accounting firms secure financing on behalf of their clients, to reflect the Small Business Administration (SBA)’s new lending regulations announced on Aug. 10, 2023. With this update, accounting firms will be even better positioned to deliver financing advisory services and help their clients access much needed capital more quickly and easily during a time when small businesses are experienci

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How Much Should My Architecture Firm Pay for Controller Services?

GrowthForceBlog

6 min read A business's back office has many moving parts, and each piece must operate within a sound framework to function properly.

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TaxBit Announces AI Enabled Rules Engine for Crypto Accounting

CPA Practice

TaxBit, the premier end-to-end modern tax and accounting solution for the digital economy, announced its AI-enabled rules engine to empower businesses dealing with cryptocurrencies to streamline their accounting processes. As the global cryptocurrency market surpasses a market capitalization of over $1 trillion, businesses face mounting challenges in accurately managing crypto transactions.

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Recruit and Retain New Blue-Collar Talent

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.

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The Great Resignation turns into Great Stagnation for Big Four

Accounting Today

Britain's accountants, auditors and advisers are clinging to their jobs, nervous that their negotiating power has sharply dropped.

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30 Percent of Gen Zers and Millennials Say Retirement Age Should Be 60 or Younger

CPA Practice

According to a new survey of attitudes toward careers and retirement, 51 percent of millennials and Gen Zers surveyed say they want to lower the retirement age. Of that group, 59 percent say the retirement age should be adjusted to age 60 or younger. This equates to 30 percent of all survey respondents. The survey was commissioned by ResumeBuilder.com , a resource for professional resume templates and career advice.

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Future Forward 2023: K2's Artificial Intelligence For Accounting And Financial Professionals

Insightful Accountant

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.

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Avantax to be Acquired by Cetera Holdings

CPA Practice

Avantax, Inc., a provider of tax-focused financial planning and wealth management, will be acquired by Cetera Financial Group. Cetera Holdings, the holding company of Cetera, will acquire all of the issued and outstanding equity of Avantax in an all-cash transaction valuing Avantax at approximately $1.2 billion, inclusive of Avantax’s net debt. Following the closing, Avantax will become a standalone business unit within the Cetera family with 3,078 Avantax financial professionals, representing $

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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2023 Changes for First Year Expensing of Business Property

Dent Moses

As we get closer to year-end, it’s a good idea to consider first-year expensing for eligible property and equipment already purchased and any anticipated purchases before year-end. In 2023, there are two options for businesses to take accelerated first-year depreciation deductions: (1) Section 179 and (2) bonus depreciation. Section 179 Deduction IRC Section 179 allows a first-year depreciation deduction equal to 100% of the cost of qualifying property placed in service in the year.

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Art of Accounting: 15 stress and burnout relievers

Accounting Today

Stress reduction can be accomplished by how realistically we view our roles, control what we do, commit to deadlines, and understand our own capabilities and time allocation.

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Should You Investigate a Suspected Fraud?

FraudFiles

When an internal fraud (one committed by employees) occurs at a company, the natural reaction is to assume that an investigation must be started immediately.

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Cost of living crisis help – how to earn £9,500 without paying tax

Cheap Accounting

It won’t come as a shock to anyone that we’re slap bang in the middle of a cost of living crisis. Making ends meet and paying all your bills on time is obviously a priority for most people at the moment. To help it’s worth reminding people about three tax free benefits that could be advantageous to the household coffers. Earn £7,500 from renting a room in your house Known as “The Rent a Room Scheme” this allows a householder to earn up to a threshold of £7,500 per tax year (6 th Apri

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.