Sat.Mar 05, 2022 - Fri.Mar 11, 2022

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Taking a Look at Alternative Financing Options for Consumer Startups

BurklandAssociates

Much has changed in the consumer startup market over the last couple of years. For one, SaaS enterprise investors who had dipped their toes into the consumer space are now Read More. The post Taking a Look at Alternative Financing Options for Consumer Startups appeared first on Burkland.

Finance 130
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Tax Planning Versus Preparation – What is the Difference? – Part 1

CTP

By Dominique Molina, CPA MST CTS. Visit social media or google these days and you’ll most likely see advertisements for Tax Planning. But many taxpayers (and even tax pros) are confused about the differences between tax planning and tax preparation. In fact, the average taxpayer most likely believes they are already getting this service from their tax advisor.

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TaxConnex Annual Customer Survey Reveals World Class NPS Score for Second Year

TaxConnex

TaxConnex™ is excited to announce that for the second year in a row, their customer survey revealed a Net Promoter Score (NPS) score of 81. As defined by Qualtrics , Net Promoter Scores are based on one survey question – “How likely is it that you would recommend this company to a friend or colleague.” Respondents give a rating between 0 (not at all likely) and 10 (extremely likely) and, depending on their response an NPS score is calculated from -100 to 100.

Tax 196
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Withum Welcomes Chris Mangano

Withum

Withum is excited to share that Chris Mangano will be joining the Firm’s Business Development team as a Strategic Alliance Executive. With over 30 years of experience in IT, Chris specializes in solving client challenges with innovative, long-term solutions. At Withum, he will develop and host workshops for clients to ensure comprehensive education on the Firm’s services.

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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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Tax and Accounting Services Terminology: Revenue and Expense Recognition

IgniteSpot

What is revenue recognition? When do you recognize revenue in your reports, statements, and forecasts? Ideally, customers pay for products or services at the time of purchase, and the company gets to record those earnings. But there are situations where a seller takes time to deliver the goods. For full revenue recognition, the revenue-generating activity (e.g., a sale) must be fully or essentially complete for it to count as revenue during a given accounting period.

Account 98
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You Will Not Get Your Money Back From Zelle

FraudFiles

Zelle is a popular money transfer app, in large part because it doesn’t charge fees to move money. But fraud is happening there, and banks aren’t giving the money back to defrauded consumers. If you send money to the wrong recipient, good luck getting it back. You cannot recall a transaction and the bank will not reverse it for you. You’re left hoping the person who got the money does the right thing and sends it back.

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Women in Construction Week: Building the Next Generation of Female Leaders

Withum

At Withum, we are fortunate to have over fifteen talented women on our Construction, Architecture and Engineering Services Team across the U.S. Our team ranges from Staff Accountants, Managers, to Partners and together help AEC based companies navigate complex business challenges, whether tax, accounting, advisory or technology-driven. In honor of Women in Construction Week, Conor Barnes , Sherry Goode , and Emily Dudek , team members of Withum’s Construction and Architecture & Engineering t

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Tax Planning Versus Preparation – What is the Difference? – Part 2

CTP

By Dominique Molina, CPA MST CTS. Tax planning is making shifts in a taxpayer’s financial and business situation, to minimize their tax burden both in the short term and over time. This often requires working in advance , before the end of the year, to identify and evaluate solutions and implement them. We’ll discuss five of the main strategies for legally lowering your clients’ tax burden.

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KPMG Is Pulling the Plug On Its Operations In Russia and Belarus

Going Concern

A source just sent us this statement from KPMG International that says its member firms in Russia and Belarus will be leaving the KPMG network: “We believe we have a responsibility, along with other global businesses, to respond to the Russian government’s ongoing military attack on Ukraine. As a result, our Russia and Belarus firms will leave the KPMG network.

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It's Called Bonusly - Inspire Employees With Rewards

Basis 365

One of the most cost-effective ways to improve your organization's performance is to start recognizing –– and rewarding –– your employees' great work. According to Quantum Workforce , when employees believe their efforts will be recognized, they are 2.7X more likely to feel highly engaged at work. That's important because a meta-analysis from Gallup reveals that high employee engagement leads to: 41% lower absenteeism 17% higher productivity 24% less employee turnover in high-turnover organizati

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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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Strategic Plan for a Nonprofit

Withum

Strategic plans for businesses are critical if they want to grow. Likewise for Not-for-Profit (NFP) organizations, however there are some differences. Businesses have a profit motive, while most NFPs are mission- and service-oriented. Here is a template for the start of a strategic plan for an NFP. Reaffirm the organization’s mission Identify the community that is being or will be served Determine if the community can be expanded Identify community needs and how they are not at present being met

CPA 106
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5 ways accountants can save time with better email management

ThomsonReuters

It may be one of the oldest digital technologies in existence, but there’s no denying that the business and accounting worlds still heavily rely on email. The incredible power of email lies in the fact that it’s fast, free, and accessible to practically anyone. Unfortunately, this is also its greatest downfall, as the internet is now drowning in the weight of its most overused application.

Account 95
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For Now, Mazars Seems to Be Staying Put In Russia

Going Concern

You can add Mazars to the list of global accounting firms with offices in both Ukraine and Russia that have denounced Russia’s invasion of Ukraine and pledged to support their colleagues in Ukraine—financially and via other means. But unlike PwC , KPMG , EY , Deloitte , Grant Thornton , and BDO , Mazars doesn’t seem to be planning a move out of Russia in protest of the invasion anytime soon, saying in a statement , “We are also conscious of the concern and distress of our 500 staff in Russia, al

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Avalara vs TaxJar: Who’s the Winner?

Basis 365

Are you overwhelmed with filing sales tax returns for your business? What if I told you there was a way to maintain complete compliance with sales tax filings without spending hours each month going through reports? Sounds pretty good, doesn’t it? Many businesses struggle to accurately report sales tax in their business, especially as the business begins to grow and expand into new states.

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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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Withum Welcomes Travis Loomis

Withum

Withum is excited to announce that Travis Loomis will join the Firm to spearhead Operations and Supply Chain Consulting, a new service under Transaction Advisory. With over 10 years of experience in supply chain and M&A consulting, Travis specializes in operations strategy, process design and improvement, supply chain optimization, merger integration management, and data analytics.

Sales 98
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What is a Virtual Accountant?

AccountingDepartment

A virtual accountant is simply an accountant who works online. Rather than working in your office or being outsourced locally, a virtual accountant is available through online communications. By working online, virtual accountants provide complete, boutique accounting services on demand.

Account 92
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Friday Footnotes: PwC’s Turn For a Probe; Accounting Professor Does a Naughty; The IRS is Hiring | 3.11.22

Going Concern

‘Big Four’ Targeted Again in U.K.—PwC Becomes Latest Subject of Investigations [ Bloomberg Tax ] Paul Brehony of Signature Litigation LLP looks at the growing number of investigations by the U.K. tax authority into historic audit failures by the “Big Four” firms, and discusses the prospects for success of proposed major reforms to the audit regime. The I.R.S. plans to hire 10,000 workers to clear a tax return backlog. [ New York Times ] The Internal Revenue Service said on Thursday that it plann

auditor 91
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How The Entrepreneurial Operating System (EOS) Will Transform Your Business

GrowthForceBlog

7 min read. If an aspiring business owner decides to purchase a franchise, they open for business with a complete corporate handbook on how best to run and build the business.

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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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AUP Inspections and the NYC Musical and Theatrical Tax Credit

Withum

The COVID-19 pandemic has had a devastating impact throughout the world. New York City was certainly no exception, and perhaps no industry has been impacted as severely as the live theatrical entertainment industry. Looking to aid the continuing economic recovery, the $100 million New York City Musical and Theatrical Production Tax Credit Program is set to have a far-reaching impact on an industry that is often considered the heartbeat of New York City.

Tax 73
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ADC Co-Founder, Dennis Najjar, Featured on the "Get The Intel" Podcast

AccountingDepartment

Are you struggling to find someone who can manage your accounting department functions? Not sure which program to consider or switch to? What is the best strategy for preparing your business finances?

Finance 85
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Reports: PwC Is Withdrawing From Russia and Belarus (UPDATE)

Going Concern

[UPDATE] PwC Global Chairman Bob Moritz released this statement a little over an hour ago confirming that PwC is pulling out of Russia: We all continue to be shocked and horrified by the senseless war that the Russian government is inflicting on Ukraine and its people. As we galvanized to find ways in which we can help, our main focus has been helping our Ukrainian colleagues and supporting the humanitarian efforts to aid the people of Ukraine.

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Are Employer-Provided COVID-19 Testing and Vaccines Subject to ERISA?

ThomsonReuters

QUESTION: Our company is considering offering COVID-19 testing and vaccinations to employees at our offices. Will this arrangement be considered an ERISA plan? ANSWER: Whether a program offering COVID-19 testing, vaccinations, or both is subject to ERISA depends on how it is structured and how it operates. In general, an arrangement is an ERISA welfare benefit plan if it is a plan, fund, or program established or maintained by an employer to provide ERISA-listed benefits (including medical ben

Legal 59
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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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Ukraine to Citizens – No Taxes Due on Captured Russian Tanks

Dent Moses

Interesting article from CPA Practice Advisor on Ukraine Tax Authority’s position to pass on captured spoils of war. Spoils of War? Ukraine Says No Taxes Due on Captured Russian Tanks. Isaac M. O’Bannon – March 3, 2022, CPA Practice Advisor. “Have you captured a Russian tank or armored personnel carrier and are worried about how to declare it?

Tax 59
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Exceptions & Rules

RitaKeller

“I follow three rules: Do the right thing, do the best you can, and always show people you care.” – Lou Holtz. You expended a lot of effort in establishing the firm’s paperless processes/procedures. Most of your partners follow the rules. For some partners, you do this and that – print things off, provide paper, etc. How will you get ahead by making so many exceptions to the rules?

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And Deloitte Makes Four

Going Concern

Well that’s that. All Final Four Horsemen of the Accounting Apocalypse have now announced they are abandoning their operations in Russia in response to Vlad Putin’s war against Ukraine. PwC and KPMG announced on Sunday they were cutting ties with their member firms in Russia, EY released a similar statement earlier this morning, and Deloitte spoke about it leaving Russia in a statement from Global CEO Punit Renjen a little more than an hour ago.

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Provider Relief Fund Update: What Your Healthcare Practice Should Know

Withum

The post Provider Relief Fund Update: What Your Healthcare Practice Should Know appeared first on Withum.

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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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2021 Personal Income Tax Return Checklist

DMCL

Our 2021 Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring we have information that is as complete and accurate as possible to assure your taxes are minimized and correctly reported. If you have any questions, please contact your DMCL Advisor. The post 2021 Personal Income Tax Return Checklist appeared first on DMCL.

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5 Reasons to Leave QuickBooks to Professionals

Pooley Accounting Services

When you first started your business, bookkeeping was 15 minutes at the end of the day. Maybe you updated a spreadsheet and tossed a few receipts in a drawer. When tax time came around, you sent the drawer of receipts and the spreadsheet to your accountant. As the business grew, you had less time for bookkeeping, but more of it to do. You decided to move everything to QuickBooks.

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PwC Ukraine’s Forensic Leader OK After His Home Was Hit By a Russian Missile

Going Concern

One of my connections on LinkedIn shared this post from Andriy Tretyak last week. Tretyak is the forensic leader at PwC Ukraine, and the photo above is the building where he lived in Kyiv, which was struck by a Russian missile. Fortunately Tretyak was able to escape before the missile slammed into the residential building, writing that “[an] air attack warning and outside shelter luckily saved me from the straight missile shot.”.

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Why email makes accountants’ lives difficult: Becoming a Google Master

Lockstep

Managing today’s accounting email inboxes with limited collaboration capabilities means teams are using Slack, Teams, productivity tools, phone calls, IMs, and smoke signals to close the books. Collaboration is impossible using out of box email platforms and trying to figure out the slightest advanced function requires IT support and a master’s degree in Googling.

Account 52
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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.