Fri.Jun 23, 2023

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Unveiling the Enrolled Agent: Unlocking the Realm of Tax Expertise and Services

MyIRSRelief

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Department of Treasury to represent taxpayers before the Internal Revenue Service (IRS).

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What is a ‘Boot’ in a 1031 Exchange?

CPA Practice

By Edward E. Fernandez, Kiplinger Consumer News Service (TNS) In the context of a 1031 exchange, “boot” refers to the portion of a transaction that doesn’t meet the tax-free criteria and thus becomes subject to immediate capital gains tax. Forms of boot might include cash proceeds, mortgage reduction and non-transaction costs. Although boot won’t disqualify a 1031 exchange, understanding its implications is crucial for optimizing tax benefits and preventing unnecessary liabilities.

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Lotus Notes to Microsoft SharePoint Migration

Cherry Bekaert

As Lotus Notes was initially established in the 1980s as a standard software, the circumstances have radically transformed now that technological solutions, such as Microsoft SharePoint, have advanced in the marketplace. Organizations now recognize the power of more robust collaboration platforms for increased collaboration and productivity. In this episode of Cherry Bekaert’s Digital Journeys podcast series, Trace Armstrong , Senior Manager, and Erin Robinson , Senior Architect in our Microso

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Survey: Employees’ Well-Being is Getting Worse, Not Better

CPA Practice

By Christopher Zara, Fast Company (TNS) The Great Resignation may not yet be over. More people say stress at work is hurting their mental, physical, social, or financial well-being—so much so that they’re ready to quit their jobs, according to a survey released June 21 by consulting firm Deloitte and HR research and advisory firm Workplace Intelligence.

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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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Who’s Hiring in Orange County? Apparently Everyone

Going Concern

The Orange County Business Journal has published “ Accounting Firms on Hiring Binge for 2nd Straight Year ” and in it we find out that the 48 largest firms on their annual list of accounting firms reported an 11% increase in local hires to 6,676 employees for 2022, up from 9.6% the year prior and way way up from a 1% drop in 2020. A PDF of the list costs $10 and we don’t have money like that so we’re just going to talk about the article.

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Men are Returning to the Office Faster than Women, Says Study

CPA Practice

By Michael Sasso – Bloomberg News (via TNS). Men are giving up remote work and returning to offices in the U.S. faster than women, according to new government data. The share of men who worked at least partly at home on an average day dropped to 28% in 2022 from about 35% the year before, results of an annual survey published Thursday by the Bureau of Labor Statistics showed.

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The Ultimate Guide to Budgeting for Marketing Firms

GrowthForceBlog

8 min read Having a budget is essential for the operation of any business, including service-based businesses like marketing firms. Key Takeaways What Is a Budget: A budget is a document that outlines a business's estimated income and estimated expenditures over a specified period of time, such as an annual, quarterly, or monthly budget….

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How to Account for Bad Debts and Record it in Quickbooks Online and Desktop

Ronika Khanna CPA,CA

One of the more unpleasant aspects of being a business owner is having to chase clients that do not pay. It is frustrating, stressful and disheartening, while attempts to collect are an unproductive use of time and can have a significant impact on cash flow, particularly if you are unprepared. A bad debt, in accounting terms, refers to an amount charged to a customer that is never paid.

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PwC Is Allegedly Looking to Sell Off Its Poisoned Government, Education and Healthcare Practice

Going Concern

Australian Financial Review is reporting today that PwC Australia may be in talks with private equity to sell off its poisoned government, education and healthcare practice. The private equity firm named in the report is Allegro Funds. It is understood a term sheet about a potential deal has been drawn up outlining details of the deal. But there are ongoing discussions about the remit of any new independent firm and whether it will work only for the public sector or also take on private sector c

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The Technology Lab Podcast – Recap of AICPA Engage 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the 2023 AICPA Engage conference, held in Las Vegas, June 3-8, 2023. The largest annual event by the association, Engage brings together professionals in all areas of practice for education, networking, and other events. Click here to go to the podcast page.

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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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SOARING to Scaling New Heights

Insightful Accountant

Liz Scott prepares a primer for the sights, sounds and seminars for this year's "Scaling New Heights" in St. Louis.

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Friday Footnotes: The Profession vs. Gen Z; CPA Firms Get Back to the Office; Deloitte Quits | 6.23.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. Talent How Can the Accounting Profession Attract a Diverse Generation Z?

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Fed Chairman Says One or Two Interest Rate Hikes Maybe Be Necessary in 2023

CPA Practice

By Catarina Saraiva – Bloomberg News (via TNS). Federal Reserve Chair Jerome Powell said returning U.S. inflation to 2% is crucial to support the long-term health of the U.S. economy, and that more interest-rate increases may be needed this year. Policymakers feel “it will be appropriate to raise rates again this year, and perhaps twice,” if the economy performs about as expected, even as they’ve been hiked to an appropriately restrictive level, Powell told the Senate Banking Committee Thursday.