Ryan Lazanis

MAY 18, 2023

In this episode, I want to share 9 ways you can leverage ChatGPT in your accounting firm to save time, reduce stress, and boost productivity. Listen below. 0:26 – ChatGPT is a powerful tool that can boost productivity and efficiency for several processes. 1:07 – ChatGPT can help businesses save time and generate high-quality blog content by quickly creating informative and engaging posts based on provided topics and details. 1:39 – Second, ChatGPT helps you draft professional e

accounting apps 98

accounting apps accounting firms Account accountant 98

Accounting Seed

MAY 5, 2023

The top 3 ways the role of the CFO is evolving, and how technology is leading the change. Over the years, particularly since 2020, the role of the CFO has shifted dramatically from transactional and historical to real-time and commercially focused. No longer are CFOs solely responsible for financial management and reporting. Now more than ever, CFOs are being called upon to be highly strategic and forward-thinking due to the evolving and expanded needs of businesses.

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B2C Technology B2B Account 98

Going Concern

MAY 18, 2023

At its core, accounting is a challenging career that requires growth and learning and can usually pay pretty well. There’s lots to do, and it requires developing expertise and finding ways to solve puzzles. Organizations need folks who can understand broad frameworks and rules and interpret that to produce all sorts of things they need. So far, so good.

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Account accountant accounted cma 109

ThomsonReuters

MAY 15, 2023

Working in the tax and accounting industry can be a stressful job. With long hours, tight deadlines, and pressure to deliver results, it can be hard to achieve a work-life balance. That’s why it’s important for both tax and accounting professionals and their firms to take steps to protect their mental health. With Mental Health Month upon us, this is a good time to think about strategies to ensure that your teams maintain a healthy work-life balance.

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Account accountant accounted Technology 137

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

MAY 19, 2023

The IRS is planning to roll out its own free online tax-filing system in a move that could put the agency in direct competition with online tax preparation behemoths like Turbo Tax and H&R Block. In a report the agency submitted to Congress on Tuesday, as required by the Inflation Reduction Act, the IRS said it evaluated the feasibility of providing taxpayers with the option of a free, voluntary, IRS-run electronic filing system, which is being called “Direct File.

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tax preparation Tax tax return Washington 136

RogerRossmeisl

MAY 5, 2023

The starting point for a business valuation is generally the subject company’s financial statements. Here’s an overview of how historical financial statements can serve as the basis for a valuation professional’s conclusion under the cost, income and market approaches. Cost (or asset-based) approach Because the balance sheet identifies a company’s assets and liabilities, it can be a reliable source of financial information, especially for companies that rely heavily on tangible assets (such as m

financial statements 243

financial statements Real Estate accounting principles Manufacturing 243

CPA Practice

MAY 2, 2023

By Michael Grothaus, Fast Company (TNS) The World Economic Forum (WEF) has released its annual Future of Jobs Report for 2023 and it makes for some interesting reading, not only for employers but for younger people who have yet to decide upon a career path. One of the most interesting parts of the report looks at the jobs market outlook for the next five years (2023-2027).

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accounting jobs accountant jobs accounts jobs Agriculture 125

IgniteSpot

MAY 3, 2023

4 Essential CFO Functions Do you really need your CFO to be involved in the sales cycle? Yes, because their job is rapidly becoming about more than reporting. Some even dip their toes into HR! CFO services make your organization more valuable to shareholders, increase your ROI, and improve internal and external relationships.

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Sales 96

Accounting Seed

MAY 15, 2023

The Salesforce and Accounting Seed implementation specialist is sharing their successful approach with clients across the globe—after adopting it themselves. Businesses around the world are using Salesforce for Customer Relationship Management (CRM)—but the capabilities of the platform span far beyond a traditional CRM system. From sales, service, and operations to industry-specific solutions, Salesforce provides a wide range of products that support every business need (plus an entire Marketpla

Technology 98

Technology Account accountant accounted 98

Going Concern

MAY 12, 2023

Have you ever been totally in the zone, grinding away at work oblivious to the world around you when you’re rudely interrupted by a *DING* that snaps you right out of your trance and back to the tedium of a seemingly infinite inbox? Or maybe you were cruising along on some project you’d been putting off when a calendar reminder pops up to tell you you’ve got ten minutes of focus remaining until you need to be in yet another useless meeting (this is me).

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Education Spend Management payroll Technology 128

Advertiser: Paycor

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RogerRossmeisl

MAY 15, 2023

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. Basic rules and IRS clarifications You can claim an itemized deduction for qualified medical expenses that exceed 7.5% of your adjusted gross income.

income tax 246

income tax tax return CPA Tax 246

Withum

MAY 4, 2023

There has been a notable increase in companies moving their manufacturing operations back to the United States, a phenomenon known as reshoring. Private equity firms have played a crucial role in this trend, investing in businesses shifting their manufacturing base. Reshoring Process in Private Equity The reshoring process in private equity encompasses three primary phases: Assessment Planning and Strategy Development Implementation and Integration Firms initially assess the viability and advant

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Manufacturing Transportation 126

CPA Practice

MAY 16, 2023

By Michael E. Kanell – The Atlanta Journal-Constitution (via TNS). Mary Woods has a career with erratic schedules and unpredictable paychecks, but she saved money and kept her credit score high so she could buy a house on her own. The purchase was a priority, said Woods, 43, a production worker in the film industry who has been in her DeKalb County, Georgia, home for nearly two years, glad for friendly neighbors, the options for walking her dogs and the proximity to urban amenities.

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Real Estate Georgia Start-ups Tax 143

ThomsonReuters

MAY 25, 2023

DaVita Inc. v. Marietta Mem’l Hosp. Emp. Health Benefit Plan, 2023 WL 3452353 (S.D. Ohio 2023) A federal trial court has decided the latest installment of a case in which a large dialysis provider sued a group health plan and its TPA for classifying all dialysis providers as “out-of-network,” resulting in a lower reimbursement rate for them than for providers of other medical services.

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Ohio Legal Tax Account 118

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.

Xero

MAY 9, 2023

Xero wouldn’t be where it is today without the support of our partner community, and that includes our Xero Partner Advisory Council (XPAC). That’s why we’re thrilled to announce our latest XPAC cohort for Australia. The XPAC team is a group of experts connecting Xero to the community and industry alike. They both challenge and champion the needs of the accounting and bookkeeping sector by engaging in open discussion, sharing industry insights, and providing actionable feedback.

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bookkeeping Start-ups Account accountant 105

Going Concern

MAY 1, 2023

Las Vegas Review-Journal has reported that Deloitte will be one of the first tenants for the second phase of mixed-use development UnCommons in southeast Las Vegas. Developer Matter Real Estate Group announced last week that the firm will occupy 14,000 square feet on the third floor of the fourth UnCommons office building, due to be completed this summer.

Real Estate 122

Real Estate Sports accounting firms Retail 122

RogerRossmeisl

MAY 15, 2023

Valuing a business requires more effort than just plugging numbers from the financial statements into a spreadsheet or artificial intelligence software program. A valuation professional needs a comprehensive understanding of business operations. Financial statements, tax returns and marketing materials tell only part of the story. Site visits can help bridge the gap, especially in adversarial situations.

tax return 242

tax return financial statements CPA Tax 242

Withum

MAY 2, 2023

Implementing an ERP system requires a cross-functional team of individuals with diverse skill sets, including business process experts, project managers, IT professionals, and end-users. Each team member brings unique perspectives, experiences, and expertise to the table, which helps avoid ERP implementation failure and ensures the deployment is successful.

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NetSuite Technology Start-ups Government 119

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

CPA Practice

MAY 26, 2023

The IRS has announced that it’s “open season” on false claims for the Employee Retention Credit (ERC). It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023.

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audit general ledger income tax tax return 138

GrowthForceBlog

MAY 13, 2023

5 min read Outsourced accounting, bookkeeping, and controller services have become a more common solution for small businesses today. Why? The advantages, which once were only enjoyed by mid-market and enterprise companies, are becoming understood by smaller companies. Key Takeaways Why Do Companies Outsource? Cost savings, focusing on core business functions, and solving capacity issues are primary drivers to outsource.

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Account accountant accounted bookkeeping 105

ThomsonReuters

MAY 4, 2023

QUESTION: During the COVID-19 pandemic, we established a telehealth-only plan to provide benefits to individuals who were not eligible for coverage under our regular group health plan. Can we continue to offer this benefit? ANSWER: During the COVID-19 pandemic, telehealth-only benefits have been exempt from certain requirements that otherwise apply to group health plans.

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Tax Account accountant accounted 105

Going Concern

MAY 9, 2023

In recent years, US firms have shifted heavily into offshoring and it seems it never crossed anyone’s mind that offshore talent might be a finite resource. So far it seems dwindling accounting graduate numbers in the Philippines are mostly affecting in-country businesses and firms, still something worth keeping an eye on. This is from CNN Philippines in March : The country is facing a shortage of accountants as college enrollment for this field of study dropped while those licensed chose t

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cpas Account accountant accounted 120

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Finance

RogerRossmeisl

MAY 15, 2023

One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to attract, retain and motivate employees is to provide education fringe benefits so that team members can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer under a “qualified educational assistance program.

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Education CPA Tax business tax 242

Xero

MAY 23, 2023

In just a few months, we’re heading back to Sydney’s iconic Darling Harbour for Xerocon 2023! On 23 and 24 August, we’re bringing our partner community together from across the globe for two inspiring days. So what can you expect? As the world’s most beautiful and innovative conference for cloud accounting leaders, this is your opportunity to see world-class speakers and entertainers, hear thought-provoking updates from Xero’s leadership team, and take home practical learnings from the Xero show

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Maine Entertainment Manufacturing Account 102

CPA Practice

MAY 10, 2023

By Jelani Gibson, nj.com – (via TNS). New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. Since cannabis is federally prohibited, cannabis businesses were not allowed to deduct expenses like normal businesses would (Section 280E of the IRS Tax Code).

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New Jersey Tax income tax Legal 135

Insightful Accountant

MAY 16, 2023

Intuit began pushing out the R9_45 update to QuickBooks 2022 Desktop Products, including Enterprise 22.0 on May 11. You may have seen this update pending in QuickBooks 2022 software.

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quickbooks 99

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"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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Anders CPA

MAY 25, 2023

Over 670 brackets were created during the 35th annual Anders Hoops for Hope March Madness-style bracket tournament supporting Missouri Veteran’s Endeavor (MOVE-STL). As the firm’s 2023 Charity of Choice, members of MOVE-STL joined Anders for a celebration luncheon where the final amount raised during Hoops for Hope was unveiled and a check for $13,010 was presented.

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Missouri CPA Start-ups Tax 98

Going Concern

MAY 4, 2023

The rumor mill has been worked into a lather about a reduction in force at Marcum (someone in the comments says that’s BS though we did get confirmation of some kind of private equity deal coming down the pipe), lots of performance discussions at Deloitte after promotions were unexpectedly delayed for many , and possible silent layoffs at EY by way of liberal PIP distribution.

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Account accountant accounted 113

RogerRossmeisl

MAY 15, 2023

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying for a deduction The net operating loss (NOL) deduction addresses the tax inequities that can exist between businesses with stable income and those with fluctuating income.

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Tax CPA business tax 242

Xero

MAY 17, 2023

There’s now a little over two months to go before old reports in Xero are retired. Over the past year, we’ve been encouraging you to make the switch, with lots of education, support and advice from other small business owners and their advisors. If you’ve waited until now to start using new reports, you’ll have less time to make the switch. We urge you to start focusing on this, to avoid any disruption to your workflows.

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general ledger Start-ups Education Account 100

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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