Tue.Jan 30, 2024

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“How can I use social media to promote my accountancy practice?”

Mark Lee

There are two types of accountants who use social media and Linkedin: Those who have learned what works FOR THEM, and Those who have bought into the hype and HOPE that what are doing will prove to be worth the time and effort. Unfortunately, the vast majority of accountants seem to fall into the latter category. And, over the years, I have witnessed and heard from hundreds who have concluded that social media doesn’t work for them.

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Hot Topics: Sellers and marketplace facilitators | TaxConnex

TaxConnex

Every now and then something comes along that transforms sales tax. The 2018 Wayfair decision was such a milestone. Another was the advent of the likes of marketplace facilitators such as Amazon, Etsy and eBay, among others. States’ definitions of a “marketplace facilitator” vary almost as much as states’ sales tax laws themselves. Generally, a marketplace facilitator is a business or organization that contracts with third parties to sell goods and services on its platform and facilitates retail

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The Nuances of Measuring ARR at Early-Stage SaaS Startups

BurklandAssociates

Are you undervaluing your SaaS startup by following an ARR formula better suited for more mature companies? The post The Nuances of Measuring ARR at Early-Stage SaaS Startups appeared first on Burkland.

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Report: Small Businesses Continue to Add New Jobs in January 2024

CPA Practice

According to the Paychex Small Business Employment Watch, January marks the 34th consecutive month of job growth for U.S. small businesses. Wage growth for workers continues to stabilize in the new year with hourly earnings growth remaining essentially unchanged since November at 3.47%. “As we begin 2024, job growth in small businesses is continuing at a steady pace,” says John Gibson , Paychex president and CEO.

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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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Another Accounting Firm Has Had Its Data Breached

Going Concern

Just when you think “hacker” stock photos couldn’t get any dumber. This is not a practical outfit for hacking activities, come on. Without bothering to search our archive of 16,000+ posts published since 2009, it’s a safe guess that we’ve never written about (revenue >$5 million) of Scottsdale, Arizona. But we are today!

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Nearly 40% of CFOs Don’t Completely Trust Their Financial Data

CPA Practice

New research shows that nearly 40% of CFOs around the world do not completely trust the accuracy of their organization’s financial data – creating challenges for strategic decision-making at a time when global business leaders are confronted with a wide range of external challenges. Confidence in cash flow visibility also remains stubbornly low, making it difficult for organizations to respond to unexpected market changes, according to a survey commissioned by digital finance transformation lead

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Cost Accounting Standards (CAS) Series: Implications When Acquiring Companies

Cherry Bekaert

In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa , a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions. Cherry Bekaert’s government contracting consulting team has years of CAS experience and can help you navigate CAS compliance issues or disclosure statement development.

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Acumatica Will Return to Las Vegas for 2025

Insightful Accountant

During the 2nd-day of their 2024 Summit, Acumatica announced the event’s date and location for 2025. They also premiere new features and functionalities that will be implemented with their 2024R1 and R2 updates.

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Bowers Merges in CPA Firm Kasperski Dinan & Rink

CPA Practice

Syracuse, NY-based accounting firm Bowers CPAs & Advisors has expanded its presence in Rochester after combining with Kasperski Dinan & Rink CPAs on Jan. 1. Financial terms of the deal weren’t disclosed. In a news release, Bowers’ Managing Partners Mike D’Avirro and Carl Austin said in a joint statement, “This strategic collaboration marks a significant milestone in our journey, combining both firms’ strengths, expertise, and resources.

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Tips and tricks for property investment accounting

Xero

Australia’s current property market presents both challenges and opportunities, with changing tenancy rules and rental controls, and the impact of interest rates and cost of living pressures. It’s a complex outlook, but property investment is a marathon swim, not a quick body surf to shore. Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment.

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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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A pre-season risk checkup can save post-season regret

Accounting Today

Accountants and tax pros need to take steps to protect themselves as they start the countdown to April 15.

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Xero formalises commitment to military veterans by signing Armed Forces Covenant

Xero

I’m proud to announce that Xero has signed the Armed Forces Covenant , formalising its commitment to supporting military veterans and their families in the workforce. The Armed Forces Covenant is a promise by the nation ensuring that those who serve or have served in the UK Armed Forces, and their families, are treated fairly. Xero’s Veterans Employee Resource Group (ERG) marked the signing by hosting an event in our London office this week.

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Acumatica Will Return to Las Vegas for 2025

Insightful Accountant

During the 2nd-day of their 2024 Summit, Acumatica announced the event’s date and location for 2025. They also premiere new features and functionalities that will be implemented with their 2024R1 and R2 updates.

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42% of finance leaders don't trust their own data

Accounting Today

A recent survey has found that, despite an increasingly data-driven business world, 42% of finance leaders don't completely trust data from their own organizations.

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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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Accounting Students from University of Nebraska Win 2024 Deloite FanTAXtic Competition

CPA Practice

A team of students from University of Nebraska , Lincoln, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case. This year’s case challenged teams to provide advice on how to structure a new business entity and help determine whether they should operate the venture as an S corporation or a C corporation.

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IRS processes ITIN acceptance agent applications again

Accounting Today

The Internal Revenue Service has lifted the moratorium on processing applications to become an Acceptance Agent to help immigrants who need an Individual Taxpayer identification Number to file a tax return or be claimed as a dependent.

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U.S. Sales Tax Rate Changes Hit 10-Year High

CPA Practice

U.S. sales tax rate changes reached a 10-year high in 2023, proving once again that it will be challenging for businesses to meet their ever changing compliance obligations. This is according to data in the 2023 End-of-Year Sales Tax Rates and Rules report, which is conducted annually by Vertex a provider of tax technology solutions. In 2023, businesses faced 444 sales tax rate changes spanning state, county, city and district jurisdictions, marking a 17% rise from last year’s combined rate chan

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NY sues FDIC over $44M in unpaid Signature Bank taxes

Accounting Today

The city's department of finance audited Signature after the bank shuttered in March and found tax deficiencies for years 2015 through 2021 related to unreported income allocation and adjustments to investment and capital income.

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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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How to Pay Employees: The Different Ways to Pay Your Employees

Patriot Software

How do you pay your employees? With checks? Direct deposit? Other? There are several ways to pay employees, especially as money continues to move into the digital sphere. If you want to know how to pay employees, take a look at these ways to pay your employees. And boy, do you have options.

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PCAOB spotlights broker-dealer audit problems

Accounting Today

The Public Company Accounting Oversight Board staff report offered insights into the PCAOB's inspection program for auditors of broker-dealers and issues with professional skepticism and low-ball fees.

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All About BOI Reporting for Skagit County Business Owners

SkagitCountyTaxServices

It seems business leaders aren’t worried about recession anymore. At least that’s what the annual World Economic Forum decided last week. Economic experts and business leaders are saying that we’re not likely to see a U.S. recession in 2024. The Federal Reserve might lower interest rates soon, and people are feeling more confident about spending money, which is making everyone more hopeful about the economy.

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Ex-Freshfields partner convicted over tax scandal

Accounting Today

An ex-Freshfields Bruckhaus Deringer partner who helped top investment banks navigate the Cum-Ex trading strategy behind Europe's biggest tax scandal was sentenced to three and a half years in prison.

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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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Impact of CBDCs on Business and Reporting

Withum

Central bank digital currencies (CBDCs) are a form of digital currency issued by a country’s central bank and have the potential to significantly impact business and reporting in various ways. The value of CBDCs is fixed by the central bank and equivalent to the country’s fiat currency. So, what are the potential benefits of CBDCs? They would provide both households and businesses with financial security, convenience, and accessibility.

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KPMG UK partners lowest paid of Big Four at £746K

Accounting Today

The firm delivered a 4% rise to its 833 U.K. partners, similar to last year's levels, but they remain at the bottom of the pay table.

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Creating a Culture of Continuous Improvement in Your Accounting Firm

CPA Practice

Continuous improvement can save companies 80% of the time spent on certain tasks, but it starts with more than just telling teams to be better. You have to create a culture within your workforce that will continually improve and allow employees to reach their full potential. How do you create a culture that strives for continuous improvement? You need to take meaningful steps to improve, which starts with an environment based on learning.

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Andersen expands valuation practice in Latin America

Accounting Today

The international network has signed up five collaborating firms in Argentina, Chile, Colombia and Mexico.

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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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Acumatica Cloud ERP Previews Advanced Product Features During Day 2 of Summit 2024

CPA Practice

Business solutions provider Acumatica recently highlighted current capabilities enabling mid-market businesses to grow, scale and drive efficiencies. The company previewed new features and capabilities that will launch in the 2024 R1 product release – with the beta of 2024 R1 now available to Acumatica customers. The company also demonstrated its new user interface (UI), featuring a new design and controls that enhance usability, deliver unmatched personalization and improve customization.

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How does entity choice affect QBI deductions?

Accounting Today

With the Qualified Business Income tax deduction of 20% set to expire in 2025 (unless it's extended), clients who are starting a business may wonder how their choice of entity will impact their QBI deduction and ultimately their bottom line.

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Tax Season 2023 Is Officially Open! Maybe. Okay, Not So Fast.

Nancy McClelland, LLC

(Many thanks to the AICPA Town Hall for allowing members to leverage their resources, such as the slides included in this article. The opinions shared here are the author’s and not those of AICPA or CPA.com.) Tax preparers everywhere spent the past two months gearing up for yesterday’s “opening day” of tax season, January 29th.

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On-Demand Webinar: The Future of Business Automation Featuring Microsoft Copilot

Withum

Get ready to put the power of AI to work for your business! Using Microsoft 365, you can safely run your businesses from anywhere with a secure, comprehensive and AI-powered cloud solution that makes hybrid work WORK. Already Registered? Click Here View On-Demand Webinar Chris Ertz and Max Herve , Withum’s automation experts, will discuss and demonstrate recently released innovations to Microsoft 365 and prepare for upcoming AI capabilities.

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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.