Wed.Jul 12, 2023

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Cybersecurity for CPAs: When you are the data breach

Accounting Today

In July's Cybersecurity for CPAs we learn the importance of never, ever, EVER losing that USB stick your client gave you.

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Stop compliance leaks: Why employees need to love your procurement software.

Airbase

A recent survey of global CFOs identified risk controls and compliance as top concerns for 2023 — right behind cash flow. So, here’s the dilemma: finding the right balance to enforce compliant spending without slowing down or frustrating employees. It’s a difficult balance to achieve. Consider this scenario: A procurement executive wants to improve company-wide compliance with purchasing policies, so they invest in a highly engineered, sophisticated procurement solution.

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Vertical Analysis: What It Is and How It Can Help You

Acterys

In the dynamic world of finance, where strategic decisions shape the course of businesses, mastering vertical analysis can help you simplify your statement, make critical financial decisions, and understand the underlying composition and trends that drive your business’ financial performance. Vertical analysis evaluates financial statements that will help you simplify a document containing complex numbers and figures.

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Digital Marketing Strategies for Financial Service Providers: Best Practices and Case Studies

CPA Practice

By Marly Broudie. In this digital age, financial service providers need to embrace digital marketing strategies to remain competitive, expand their online presence, and generate quality leads. With the ever-increasing number of online users, leveraging the power of digital marketing can significantly enhance their visibility, attract a wider audience, and ultimately drive business growth.

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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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IRS mails incorrect collection notices to taxpayers in disaster areas

Accounting Today

The Internal Revenue Service has been sending out erroneous balance due notices demanding taxpayers in federal disaster areas pay up, even though they're supposed to get extra time.

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Client Record Templates

Canopy Accounting

What's new: We understand that firms often have a standardized framework that their clients adhere to, and they require an efficient method to assign client records to predefined molds with designated team members in specific roles. That's why we've developed a solution that allows you to easily template roles and manage team assignments with utmost simplicity.

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More Trending

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Tax Advantaged Strategies to Help Clients Plan for Long-Term Care

CPA Practice

With Americans living longer, long-term care insurance has become increasingly popular as a hedge against a financial catastrophe late in life due to age, injury, illness, or cognitive impairment. Notably, the cost of a private room in a nursing home can exceed $100,000 per year, and the cost of in-home health care can be even higher. In other words, it’s important to have either insurance or another plan in place to pay for these rising expenses.

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Withum and PSN Present: Esports Player Care On-Demand Webinar

Withum

In this exciting webinar, Withum, Full Sail University, the NECC, and Guild Esports will dive into the duty of care that the Esports industry has to its athletes and global audience! There have been few industries that have seen growth as rapid as collegiate and professional Esports. With total market investments reaching billions of dollars, Esports is becoming a revolutionary means of competition and entertainment.

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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Small businesses face many challenges in 2023, including hiring and retaining skilled employees. Nevertheless, according to a recent National Federation of Independent Business (NFIB) Job Report , small business owners are working hard to fill their open positions, with 63% reporting hiring or trying to hire. Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemploymen

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Senators Get Angry at ‘Incompetent Tax Prep Firms’ for Sharing Sensitive Taxpayer Data With Facebook

Going Concern

A 54-page report by Senators Elizabeth Warren (D-MA), Ron Wyden (D-OR), Richard Blumenthal (D-CT), Tammy Duckworth (D-IL), Bernie Sanders (I-VT) and Sheldon Whitehouse (D-RI) snaps at online tax prep companies H&R Block, TaxAct, and Tax Slayer for sharing sensitive taxpayer data with Meta (Facebook) and Google for purposes of algorithm-based advertising.

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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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Home Values Reach New High

CPA Practice

The typical home value eclipsed $350,000 for the first time ever as healthy demand from buyers continues to collide with reluctant sellers, according to the latest Zillow Market Report. “Home buyers have persisted this spring despite daunting affordability challenges and record-low inventory,” said Jeff Tucker, senior economist at Zillow. “Demand typically begins to ease in the summer, and there are signs that competition is waning, but large price declines are unlikely until more homeowners lis

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IRS probes Puerto Rico tax breaks

Accounting Today

U.S. prosecutors and IRS agents are looking to build cases against individuals suspected of illegally taking advantage of breaks that lured crypto traders and fund managers.

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Travel Woes: 77% of Travelers Faced Problems this Year

CPA Practice

More than 3 in 4 travelers (77%) who have taken an overnight trip outside their local area this year experienced at least one travel-related issue, according to a new Bankrate report. More than half of travelers (53%) cited encountering higher prices than they’re accustomed to, making it the most common problem, followed by long waits (25%, including airport security, restaurant tables, etc.), poor customer service (24%), canceled/disrupted plans (23%), and hard to find availability (23%).

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Jirav raises $20M

Accounting Today

Among other improvements, the financial planning and analysis software company plans to use the money to double its accounting channel team.

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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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How to Read and Interpret Financial Reports for Your AEC Firm

GrowthForceBlog

7 min read You may be an AEC industry (Architecture, Engineering, and Construction) professional by trade, but if you're running an AEC firm, then you must also be adept at business financial management; working as an architect or engineer is one job, but running an AEC firm is another.

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Senate duo proposes juiced-up consumer protection in crypto bill

Accounting Today

A bipartisan duo, Sens. Cynthia Lummis and Kirsten Gillibrand, unveiled their latest effort to regulate the cryptocurrency industry.

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Another Fine ProAdvisor Mess.

Insightful Accountant

Have you gotten an email saying your ProAdvisor status expired June 30, even though you passed recertification? Well, I did.

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Vendor Spotlight: Pilot

Accounting Today

This week's Vendor Spotlight features Waseem Daher, co-founder and CEO of bookkeeping solutions provider Pilot.

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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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Cutting Costs in Your Skagit County Business Right Now

SkagitCountyTaxServices

Though things might be tight economically for your Skagit County business, keep in mind, cutting corners can become a real issue. Take for example fake reviews that are so pervasive online. Some business owners are tempted to buy reviews to get their product or service seen online. If you’ve ever done that or been tempted to do that, let me just say: DON’T.

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Still More Top 100 Clues from Our Award Recipients

Insightful Accountant

Continuing with his 'Clues about Top 100 2024' series, Murph examines what another award recipient's formal application reveals about the 'quest for the best.

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How To Enhance Your Advisory Services During The Summer Months

CPA Practice

Summer is a nice break from the busy season when staff often work 55 – 58 hours a week and partners often push 80+ hours. You’ll find that work is slower and you may even struggle to keep your team busy. Seasonal fluctuations are a part of life in accounting, but don’t let this downtime go to waste. Take this time to enhance your advisory services. With that, where should you begin?

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Where the money is: Top tax takes by state

Accounting Today

See which 20 states grew their tax revenue the most last year.

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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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Supply Chain Risks Likely to Continue

Dent Moses

S&P Global recently released a report titled “Look Forward: A World in Disruption.” The report details all the risks to the global economy and supply chain. The world is in more debt than ever before with the total estimated at $300 trillion or $37,500 for every person in the world compared to GDP per person of $12,000. The low interest rate environment encouraged many companies to leverage instead of raising equity.

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Firms Are Making Big Expansions in India

Going Concern

Thanks to Reuters we’ve got some solid intel on accounting firms’ increasing their presence — and therefore headcounts — in India, expanding out from city centers and into smaller cities and towns. We’ve known for some time that offshoring has exploded in recent years, now we know there’s much more room to grow. 1,269,219 square miles to be exact.

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SmartVault SmartRouting Feature Optimizes Document Organization for UltraTax CS Users

CPA Practice

SmartVault, a leading provider of an integrated, cloud-based document management system (DMS) and client portal platform, has launched SmartRouting, a feature that creates logical, effortless organization between Thomson Reuters UltraTax CS tax application and SmartVault. This seamless integration enables users to print and automatically route documents like tax returns from UltraTax CS directly to the correct folder in SmartVault.

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What is Required Audit Communication?

Withum

You’re a private rental real estate entity. You may own one building and have two investors or hundreds of buildings with a hundred investing partners. The buildings you own may be commercial, residential, or both. Whatever the case may be, you may need an audit of your financial statements. This could be by the request of your investors or even required by your lending institution as part of your loan covenants for that large mortgage on your books.

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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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Jirav Announces $20M Series B Round Led By Cota Capital

CPA Practice

Jirav , an all-in-one financial planning and analysis (FP&A) solution, and the preferred budgeting and forecasting partner of CPA.com, has announced $20M in Series B funding led by Cota Capital. Jirav will use the funds to further accelerate product development, broaden its customer base across small-medium businesses (SMBs), mid-market companies, and accounting firms while hiring exceptional talent to support its growth.

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Safeguarding Your Intellectual Property and Financial Assets

Shay CPA

A couple of years ago, we explored how tech companies can put measures in place to protect their physical, financial, and intangible assets. But in light of the increasing complexity around intellectual property (IP) rights and the fallout of the Silicon Valley Bank (SVB) collapse, we thought it was worth revisiting best practices for startups who want to safeguard their assets.

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Boomer Consulting Announces Arianna Campbell and Jon Hubbards Appointments

CPA Practice

Boomer Consulting, Inc., a leading consulting firm specializing in advising accounting firms and technology providers, is pleased to announce the appointment of Arianna Campbell as Chief Operating Officer (COO) and Jon Hubbard as Chief Growth Officer (CGO). These new roles are in addition to existing shareholder roles: Jim Boomer, Shareholder and Chief Executive Officer, Sandra Wiley, Shareholder and President, and Marc Staut, Shareholder and Chief Innovation and Technology Officer and L.

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Navigating the Challenges of Agency Life with Russell Dubree

Summit CPA

The Virtual CPA Success Show: Episode 85 Russel Dubree, serial entrepreneur and Growth and Culture Advisor at Performance Faction , sits down with Jamie Nau and Jody Grunden to discuss challenges of agency ownership. From starting his first agency and nearly shutting its doors, Russell shares some of his experiences and lessons learned, as well as what makes agencies unique: low barrier to entry, the lack of a unified framework, and the difficulty in finding and keeping talent.

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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.