Xero

SEPTEMBER 15, 2023

The one thing accountants and bookkeepers are always short on is time. Balancing client work, advisory, admin and growing their own teams, all whilst trying to run a profitable practice. This can take its toll on accountants, with our recent State of Accounting research in South Africa revealing that two thirds (64%) experience stress as a result of work and face continued challenges like loadshedding (75%) and economic instability (71%).

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MyIRSRelief

SEPTEMBER 15, 2023

1. What is an IRS bank levy? An IRS bank levy is a legal action taken by the Internal Revenue Service (IRS) to collect unpaid taxes. When the IRS levies your bank account, they freeze the funds in it and eventually withdraw the amount owed to satisfy your tax debt. 2. Why would the IRS levy my bank account? The IRS may levy your bank account for various reasons, including: a.

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Airbase

SEPTEMBER 15, 2023

Unicorn companies all have different origin stories, but most growth paths share a similar landscape, one that is covered with obstacles and navigated at a breakneck pace — straining people, processes, and systems. Things get done reactively, with ad hoc procedures developed to keep moving. Even after reaching unicorn status, the resulting chaos isn’t sustainable, can easily lead to burnout, and may not support continued growth.

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Going Concern

SEPTEMBER 15, 2023

Chattanooga Times Free Press has written quite the story about legacy accounting firm Croft & Frost abruptly laying everyone off earlier this week after months of issues making payroll. Thanks to the tipsters who sent this over because holy s**t. CTFP: Several emails obtained by the Chattanooga Times Free Press show a period stretching between late May to the present in which the company was continually failing to pay employees on time, even as its CEO Jonathan Frost and other leaders assure

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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

SEPTEMBER 15, 2023

The IRS on Friday previewed proposed changes to certain sections of Form 6765, Credit for Increasing Research Activities , the document used by taxpayers to claim the research and development tax credit. The agency unveiled the new version of Form 6765 to solicit feedback from stakeholders in advance of the formal draft release process for form changes.

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Accounting Today

SEPTEMBER 15, 2023

The Internal Revenue Service is asking for comments from business taxpayers and their advisors about ways to improve and expand its programs for resolving tax issues upfront before companies run into compliance problems.

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Anders CPA

SEPTEMBER 15, 2023

The IRS issued a moratorium on processing new Employee Retention Tax Credit (ERTC) claims on September 14, 2023. The moratorium, which took place effective immediately and will last through December 31 at least, comes as the IRS seeks a way to protect honest small business owners from scams. Key Takeaways: The program is not cancelled, but as of September 14, 2023 and lasting through at least December 31, 2023, the IRS will no longer accept new ERTC claims Claims that have already been filed but

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CPA Practice

SEPTEMBER 15, 2023

Live webcast: Wed, Sep 27, 2023 – Noon – 1:00 PM EDT “Future proofing” has been a ubiquitous post-pandemic buzzword. But how can you actually set your firm up for success? The answer is two-fold: automation/AI and client advisory services (CAS). This panel, featuring experts from across the industry, will tie these topics together in a thought-provoking webinar that provides useful advice and updates the conversation on familiar topics for 2023.

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Accounting Today

SEPTEMBER 15, 2023

Reporting and assurance around sustainability disclosures are a natural fit for the profession — but it's attracting other players, too.

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Going Concern

SEPTEMBER 15, 2023

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. Happy National Leave Your Accountant the F**k Alone Day , everyone! Hopefully clients observed this sacred holiday.

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Advertiser: Paycor

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.

Accounting Today

SEPTEMBER 15, 2023

The Internal Revenue Service released a sneak peak of some of the changes it's hoping to make to the form for claiming research credits.

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Cherry Bekaert

SEPTEMBER 15, 2023

Challenge: The COVID-19 pandemic created an ever-changing environment, where state and local governments across the US struggled to find a balance between keeping citizens safe and keeping the wheels in motion. The initial reaction was a series of shutdown orders for nonessential businesses and stay-at-home orders for those most at risk: the elderly and our children.

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Accounting Today

SEPTEMBER 15, 2023

Plus, TaxBuzz launches AI-powered "vertical" search engine powered by professionals; and other accounting technology news.

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KROST

SEPTEMBER 15, 2023

Our Assurance & Advisory Principal, Keith Hamasaki, has been selected by the Los Angeles Business Journal (LABJ) to be a judge in determining this year’s winners of the CFO Awards. Keith’s representation of this role is on behalf of the California Society of Certified Public Accountants (CalCPA). This will mark his fifth year as a Read the full article.

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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.

Randal DeHart

SEPTEMBER 15, 2023

Many entrepreneurs operate with their business processes and systems in their heads. They know what they must do daily and how they want to get things done. Unfortunately, when a construction business grows, and staff need to be hired – or the owner needs to take time away from the company – it's an absolute liability not having processes and systems documented in one place.

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Accounting Today

SEPTEMBER 15, 2023

RSM appoints new CFO; GSCPA raises $347K for food banks statewide; and more news from across the profession.

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GrowthForceBlog

SEPTEMBER 15, 2023

9 min read Some small engineering firms can get by with just the back-office essentials: a sound, secure, and efficient bookkeeping and accounting system that maintains compliance while supporting the nuts-and-bolts operations of the business. Key Takeaways The Role of a CFO: The CFO should take charge of the management aspect of accounting by helping with tasks like financial planning, risk assessment, cash flow improvement… How Outsourced CFO Services Can Help: You can access a CFO at a fracti

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Ronika Khanna CPA,CA

SEPTEMBER 15, 2023

Investment in capital items such as computers, furniture, equipment and cars can cause confusion for small business owners. Since these are purchases that affect the cash flow of the business, it seems that they should be accounted for as expenses similar to office supplies or rent. There are however special rules for any acquisitions that qualify as “fixed assets”.

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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

AccountingDepartment

SEPTEMBER 15, 2023

Exciting news! We're thrilled to announce that Episode 1 of our NEW podcast, Beyond the Books , is now live and ready for your listening pleasure.

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Accounting Today

SEPTEMBER 15, 2023

Access to expertise on a timely basis — and no full-time commitment — are just some of the benefits of outsourcing financial leadership.

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Withum

SEPTEMBER 15, 2023

Many companies are experiencing unfavorable cash tax payments when filing their 2022 federal income tax returns this fall, as federal law no longer allows an immediate deduction for Section 174 Research and Experimental (“R&E”) expenses incurred for taxable years beginning after 2021. The inability of Congress to pass a tax extender in December of 2022 forces businesses to capitalize and amortize their Section 174 R&E expenses over a 5-year period (15 year-period if attributable to forei

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Accounting Today

SEPTEMBER 15, 2023

The hedge fund billionaire has subpoenaed the investigative news site and five of its journalists for documents related to the publication of reports that detailed his tax information.

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tax return Tax 65

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.

Accounting Insight

SEPTEMBER 15, 2023

As the UK recruitment crisis continues to boil, we share ten practical tips to help small accountancy practices attract and retain staff. The Problem 48 %: UK finance leaders concerned about the lack of available finance and accounting talent. [i] 38 %: UK finance leaders stating that a lack of skills is the biggest 2023 hiring challenge. [ii] 6,500: Financial services accountancy vacancies in 2022, a 20.4% year-on-year increase on 2021.

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accounting firms Account accountant accounted 64

Accounting Today

SEPTEMBER 15, 2023

What can firms do to help young professionals get excited about accounting? The answer lies in engagement.

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Account accountant accounted 89

Accounting Seed

SEPTEMBER 15, 2023

Introduction: The need for AR automation Keeping on top of invoices, especially when handling hundreds or even thousands of them manually every month, can be an overwhelming task for any business. This is where AR automation comes to the rescue. What is AR automation? AR automation is the process of automating the billing and receipt of payments and the reconciliation of those payments, usually through an AR automation solution.

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Accounting Today

SEPTEMBER 15, 2023

Software vendors also lauded the board's new cryptocurrency standard as a worthy first step.

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Finance

Canopy Accounting

SEPTEMBER 15, 2023

There's no doubt that the accounting industry is changing at a rapid clip. The integration of technology, specifically artificial intelligence (AI) and automation, means that accounting professionals must adapt and adopt tools to stay relevant. To that end, here's a look at how embracing AI and automation can help accountants work smart, not harder.

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KROST

SEPTEMBER 15, 2023

We are happy to announce the release of our newest industry magazine! The Sports & Entertainment Issue highlights some of the hot topics in the sports & entertainment industry including tax issues for athletes, estate & trust planning, Client Accounting Services, and more. What You’ll Find Inside this Issue: Protecting Your Assets and Legacy: Estate Read the full article.

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Cherry Bekaert

SEPTEMBER 15, 2023

There has been an increase in third-party consultants advertising their ERC services through various media advertisements that are not properly documenting or following processes when applying for Employee Retention Credit. Applying for the ERC with one of these firms could put you and your organization at risk. In this video you will learn more about: How to determine a reputable firm to work with when claiming the ERC Learn about IRS guidance to not ignore when applying for ERC Discover what q

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Withum

SEPTEMBER 15, 2023

Download Survey Illuminating Trends in Private Equity Firms There is an industry consensus that specialization amongst private equity firms is increasing, so we researched over 700 private equity firms and conducted a client survey. The data from our research and survey provide a comprehensive view of the growing trend of industry specialization among private equity firms.

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Advertisement

"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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