Thu.Oct 26, 2023

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Sales Tax Horror Stories: Automation

TaxConnex

Sales tax is a major obligation for your business. As with most such obligations, you probably ask, “Can automation help me?” In some ways, yes. Sales tax rates and taxability rules differ by state and even locality. Software that has the rates and taxability rules built-in helps make sure you charge the right sales tax with each purchase. Most sales tax calculation software today is SaaS-based (Software-as-a-Service), which often integrates with a company’s invoicing system.

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Accountants feel less confident in economy

Accounting Today

Accountants and financial professionals are feeling less upbeat about the economy in North America in the second quarter of the year, according to a quarterly survey from the IMA and ACCA.

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Some Guy Demonstrated Why WFH Is the Superior Way of Working By Bringing Explosives to the Office

Going Concern

On Monday afternoon an employee of Brown, Brown and Associates, an accounting firm on Main Street in Springfield, TN, decided to bring an explosive device to the office “to show around.” Actual explosives. The news didn’t say what exactly the device was, only that the man “reportedly found multiple explosives in an old house he was cleaning out and brought one of them into work to display.” “I was with a client, and a police officer came and knocked on my salon door

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How homeowners can benefit from the Inflation Reduction Act's tax credits

Accounting Today

The legislation incentivizes consumers to buy energy-efficient electric appliances, clean vehicles, rooftop-solar and home energy storage systems.

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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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Hiring Managers Have a Dirty Little Secret That is Driving High Turnover

CPA Practice

By Kelly Main, Inc. (TNS) We’ve all heard that a job interview is a lot like a first date, and since hiring managers’ dirty little secret was revealed, this seems to be more true than ever. To decide where to apply, who to interview, and who to date, we comb through our little black books of online profiles. We size each other up online before ever deciding to meet and when we do meet, we dig through our wardrobes to find the perfect outfit, primp our hair, and check our teeth for spinach.

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Grant Thornton Apologizes to Ex-Audit Associate For Paying Him Less Than Minimum Wage

Going Concern

Funny story today from across the pond that eFinancialCareers spotted on LinkedIn. A gent who spent nine months as an audit associate at Grant Thornton’s Manchester office got a letter from them a year after leaving that apologized for inadvertently paying him less than minimum wage. And he’s not mad about it. Yavinka Mendis, a University of Manchester economics graduate, joined KPMG’s Manchester office as an audit associate in 2019.

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The Secrets to Lasting Business Growth for Non-Marketers

Insightful Accountant

Everything comes down to marketing. Balanced Awakenings' Dr. Hannah Yang provides some insights practice owners can use to help leverage their market strategies and build momentum.

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ADC Reinvents at EO Nerve 2023

AccountingDepartment

Our team rounded out another successful year of EO events last week while attending EO Nerve. ADC Business Development Representative, Shawn Marcum, and Content Manager, Mike DeFusco, attended the multi-day event in Tampa, FL.

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Hitch Your Wagons 'Pardner' for the Best Migration Yet

Insightful Accountant

'Wagons Ho.' Murph's guiding you on the trail of migration from QuickBooks Desktop to QuickBooks Online. So, you better get to readin' cause you don't wanna get left behind.

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Client Accounting Service Strategies for Success in the Sports & Entertainment Industry

KROST

This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Client Accounting Service Strategies for Success in the Sports & Entertainment Industry” by Stacey R. Korman, CPA, MST In the fast-paced and dynamic world of sports and entertainment, financial management plays a crucial role in the success of artists, performers, Read the full article.

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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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Changes to Missouri Taxability of Sales Made Online by a Not-for-Profit Marketplace Facilitator

Anders CPA

On July 31, 2023, Missouri released Private Letter Ruling No. LR 8263. The ruling provides insight into the obligations of a California-based 501(c)(3) not-for-profit organization that operates as a marketplace facilitator regarding the collection and remittance of sales and use taxes. Although marketplace facilitators are required to collect and remit sales and use taxes in Missouri, these taxes might not apply to 501(c)(3) organizations when selling to other 501(c)(3) organizations.

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AICPA & CIMA offer business strategy framework

Accounting Today

The AICPA & CIMA, in conjunction with the World Business Council for Sustainable Development, unveiled research on a framework to facilitate business strategy development.

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Financial Reports for Mid-Market Companies

GrowthForceBlog

7 min read The Bank of America Mid-Sized Business Owners Report [1] just came out with a whole host of information on trends among business owners, their management, and the plans they have for their $5 to $50 million dollar companies in the coming year.

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Tax Fraud Blotter: Bad housekeeping

Accounting Today

Meating their fate; write-off rip-off; a dent in his plans; and other highlights of recent tax cases.

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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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A Guide to AP Automation Technology

MineralTree

Automation is reshaping the way companies manage their financial operations, especially in accounts payable (AP). Understanding how AP automation works and how it streamlines AP processes is vital to keeping your company ahead of the curve in a rapidly evolving business finance landscape. AP efficiency is more important than ever given the growing need to do more with less.

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NetSuite at 25: Key Takeaways From SuiteWorld 2023 

Withum

NetSuite’s annual SuiteWorld conference brought together thousands of customers and partners in Las Vegas this month. Withum celebrated NetSuite’s 25 th anniversary and was hands-on at breakout sessions relevant to the industries we serve, including but not limited to: technology , manufacturing , distribution , retail and e-commerce. Our CRM and ERP team members learned about the latest products and innovations to better serve our clients.

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Finding Clients that Grow Your Firm

Canopy Accounting

In this eBook you'll learn if specialization is right for your firm & get a step-by-step guide to choosing a niche and identifying your ideal client profile for a more profitable firm.

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ADP Launches API Central for HCM Integration

CPA Practice

ADP, a provider of human capital management solutions, has launched API Central, a new HCM solution that enables businesses to easily and securely connect their ADP workforce data across their HR and business systems using standard APIs and tools. “HR leaders cite integration with other technology solutions as a top challenge to fully maximizing their workforce data,” says Anthony Maggio, vice president and general manager, ADP.

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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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Happily Ever ACFR: Crafting Your Financial Reporting Fairy Tale

Cherry Bekaert

Join us to gain insights from our Cherry Bekaert Professionals on the following topic. Preparing an Annual Comprehensive Financial Report (ACFR) can sometimes feel more like a horror movie than a fairy tale. Learn from Cherry Bekaert accounting advisors about how to set yourself up for success when preparing your ACFR. We will look at the most common ACFR preparation mistakes and provide tools and resources to help your government avoid them.

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Claiming overlap relief

Inform Accounting

If you are self-employed, the way in which your profits are taxed is changing. As a result of this, you only have a limited window in which to claim relief for any profits which have been taxed twice.

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Lance CPA Group founder Joshua Lance dies

Accounting Today

The entrepreneur and accounting firm leader was 40.

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Property Valuation and Appraisal Considerations for Insurance Renewals

Withum

Once upon a time, property insurance renewals were an annual formality. They often consisted of a brief conversation, a review of a property listing, and a moderate 2%-4% increase in valuation to account for inflation. These valuations and renewals have instead become increasingly consequential today. A property insurance appraisal of building and equipment assets performed by an experienced, independent third party can be key in this preparation.

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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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U.S. Economy Grew at 4.9 Percent Last Quarter

CPA Practice

By Reade Pickert, Bloomberg News. (via TNS) The U.S. economy grew at the fastest pace in nearly two years last quarter on a burst of consumer spending, which will be tested in coming months. Gross domestic product accelerated to a 4.9% annualized rate, more than double the second-quarter pace, according to the government’s preliminary estimate Thursday.

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Case Study: Streamlining Construction Operations-Transitioning to Microsoft Business Central with Advanced Projects Module

Withum

Download a PDF of this case study. Executive Summary Withum’s ERP Consulting Services Team was engaged by a construction firm challenged with manual day-to-day operations and a lack of realtime financial reporting. Working closely with the client, the Withum Team successfully streamlined business processes by migrating both project management and finance functions into a single, integrated ERP solution.

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Biden to Sign Order Limiting Use of AI and Chat AI by Government

CPA Practice

By Courtney Rozen and John Hewitt Jones Bloomberg News- (via TNS). President Joe Biden will sign a wide-ranging directive on artificial intelligence on Monday, according to people familiar with the matter, as part of a broader pledge to steer AI models away from potential misuse before they’re released to the public. The White House will also be hosting an event on “safe, secure and trustworthy” artificial intelligence Monday, according to the people, who spoke on condition of anonymity to discu

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What Will You Do If Social Security Gets Cut?

CPA Practice

By Edward Sota, Kiplinger Consumer News Service (TNS) If you feel anxious about the future of your Social Security benefits, you’re not alone. It’s a common concern—both for retirees already receiving Social Security payments and for workers who expect to rely on this important income stream someday. In a 2022 survey of U.S. workers by Transamerica , 37% of respondents named the potential reduction or elimination of Social Security benefits as a top retirement fear.

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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.