Canopy Accounting
MAY 23, 2023
The accounting profession has always been challenging and demanding, requiring much time, dedication, and attention to detail. However, in recent years, there has been a growing trend of accountants quitting their jobs and leaving the industry altogether. And there are fewer students graduating with accounting degrees. This trend is concerning for firms, clients, and the industry as a whole.
Basis 365
MAY 23, 2023
As the business world becomes increasingly fast-paced and complex, CFOs (Chief Financial Officers) always seek ways to maximize efficiency and cut waste. One solution that many CFOs are turning to is outsourcing their company's accounting and accounting tasks. In this blog post, we will discuss why CFOs love outsourced accounting services and the many benefits that they provide.
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Withum
MAY 23, 2023
Within the vast and quickly changing world of internet technology, some of the most recent conversations include a discussion of Web 3.0, including crypto, NFTs (Non-Fungible Tokens), the metaverse and blockchain. So, what exactly is Web 3.0, and how will it impact the internet and the valuation of startup companies operating in Web 3.0? To answer this question, we begin with a survey of Web 1.0 and 2.0.
Accounting Insight
MAY 22, 2023
Hello to the holiday season. Easter and the Coronation are behind us but a further bank holiday looms in coming weeks, alongside the hottest months of the year, when a lot of employees chose to take their annual leave. Everyone, including payroll and accountancy professionals, love to take a break. But unfortunately holiday pay is often one of the most time-consuming and headache-inducing parts of running a business’ books.
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.
Going Concern
MAY 24, 2023
If the headlines are to be believed, humanity is mere months away from being enslaved by artificial intelligence or, at the very least, being permanently unemployed (cue sounds of the Going Concern audience celebrating here). You may have seen clickbait articles about entire marketing departments being turfed in favor of ChatGPT (we never liked the people in marketing anyway!
Menzies
MAY 24, 2023
Menzies LLP - A leading chartered accountancy firm. Jonathan Bass , Partner, Matthew Watkins , Director, and Stephen Hemmings , Partner at Menzies, discuss recent tax announcements made in the Spring Statement, covering the changes that are underway, in areas such as R&D and tax disputes. The podcast will discuss what the changes could mean for you and your clients, as well as discussing HMRC’s increased scrutiny, and the range of options that are available to you to deal with HMRC.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
MAY 22, 2023
By Adam Goran. What comes to mind when you think of the IRS, or the International Revenue Service, in America? Most people think about taxes and tax season—and the piles of paperwork and forms that coincide. But what if the IRS was more digitized? Well, they’re trying to do just that. Last month, the IRS put out a news release stating they are trying to become a “digital first” organization.
BurklandAssociates
MAY 23, 2023
Maintaining accurate and complete financial records is critical for compliance, business intelligence, and investor due diligence. The post What are the Important Financial Records for Startups to Keep? appeared first on Burkland.
Insightful Accountant
MAY 23, 2023
B2B CFO's Don King continues his multi-arc series on explaining why mastering these areas will help management monitor their financial performance and identify areas for improvement—among other things.
MyIRSRelief
MAY 24, 2023
What is an IRS CP14 notice? An IRS CP14 notice is a letter sent to taxpayers who owe money to the IRS. The notice will state the amount of tax due, as well as interest and penalties. The IRS will also provide instructions on how to pay the amount due. What does the IRS CP14 notice look like? The IRS CP14 notice is a white letter with a blue header. The letter will be addressed to the taxpayer and will include the taxpayer’s Social Security number or taxpayer identification number.
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TaxConnex
MAY 25, 2023
Sales tax is complex for businesses of all sizes. If you are a business with customers in multiple states, your scope and risk grows in accordance with the number of states and the sales tax complexities in those states. Sales tax obligations begin with whether you have nexus in a state or other locality. Nexus today largely stems from two main factors – a physical presence or economic presence.
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.
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.
MyIRSRelief
MAY 22, 2023
Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.
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.
TaxConnex
MAY 23, 2023
Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Take diapers. Almost half the states have stopped sales tax on diapers, but these baby products still, despite frequent efforts at repeal, incur sales tax in Maine, Ohio, Michigan, New Mexico, Nebraska, Washington and Nevada.
CPA Practice
MAY 24, 2023
The American Institute of CPAs (AICPA) has endorsed bipartisan legislation introduced by Representatives Judy Chu (D-CA) and Mike Carey (R-OH) to simplify the tax filing extension process. The Simplify Automatic Filing Extensions (SAFE) Act of 2023 would assist the Internal Revenue Service (IRS) with receiving extensions earlier in the year, providing taxpayers, CPAs and the IRS with a streamlined process and reducing the need for many penalty abatement requests.
Going Concern
MAY 26, 2023
Last week, the AICPA released a revised pipeline acceleration plan , the goal of which is to get more young people into accounting to save the profession from extinction. To save you a click, I’m putting it here. At its spring meeting in Washington this week, the AICPA’s governing body (“Council”) approved this plan. Yay. Cue measured fanfare.
MyIRSRelief
MAY 24, 2023
What is an IRS CP14 notice? An IRS CP14 notice is a letter sent to taxpayers who owe money to the IRS. The notice will state the amount of tax due, as well as interest and penalties. The IRS will also provide instructions on how to pay the amount due. What does the IRS CP14 notice look like? The IRS CP14 notice is a white letter with a blue header. The letter will be addressed to the taxpayer and will include the taxpayer’s Social Security number or taxpayer identification number.
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
Basis 365
MAY 25, 2023
Service-based businesses , such as management consulting firms, marketing agencies, or PR firms, rely on performance metrics to gauge their success. Key Performance Indicators (KPIs) are essential tools that service-based businesses can use to measure their performance, track progress toward goals, and identify areas for improvement. This blog post will discuss some of the most critical KPIs for service-based businesses and explain why outsourcing accounting services is the best option to manage
CPA Practice
MAY 25, 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.
Going Concern
MAY 25, 2023
Before we get into the situation, please note the issue discussed here is not EY’s fault. Rather, the office tower bearing the firm’s name at 725 South Figueroa Street in downtown Los Angeles has entered receivership after asset management company Brookfield stopped making payments on its debt in April. Commercial real estate firm Colliers has taken control of the 41 stories high, 968,184 square-foot office tower and issued a news release : Colliers is pleased to announce it has been
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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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.
CPA Practice
MAY 22, 2023
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) The IRS has scored a win at the U.S. Supreme Court. Last Thursday, the court released its ruling in Polselli v. IRS , involving whether the agency can access bank records of a taxpayer’s relatives or associates—without notice—to help with tax collection efforts. The Supreme Court’s answer is yes.
Going Concern
MAY 23, 2023
EY Global Chairman and CEO Carmine Di Sibio and King Charles III stan showed up on Squawk on the Street today talking about the labor market and, more notably, how the firm is using an AI chatbot to answer payroll questions. The AI segment begins around 3:05. He also discussed hiring, saying they’ve been seeing a slowdown in hiring across the board (he means outside of the firm), “particularly in professional services” (so, in the firm).
Insightful Accountant
MAY 22, 2023
Intuit has significantly enhanced the custom workflow feature within QuickBooks Online Advanced. Murph shows why the new workflows are easier and better than ever.
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Ryan Lazanis
MAY 24, 2023
Here is my complete guide to emerging accounting technologies for 2023. In this guide, you’ll learn about the top accounting technology in the profession along with some tips and tricks on how to leverage them. So if you’re looking to leverage software to automate your accounting work, you’ll love this guide. Let’s go! Table of Contents Cloud Computing Artificial Intelligence & Machine Learning Optical Character Recognition Robotic Process Automation Blockchain Big Data The Metaverse Mobile
CPA Practice
MAY 24, 2023
The IRS is using nearly 70 additional filters for the 2023 tax-filing season to identify potential identity theft tax returns and prevent fraudulent refunds from being issued, and those extra fraud detection tools seem to be working well, according to the interim filing season report released by the Treasury Inspector General for Tax Administration on May 10.
Going Concern
MAY 23, 2023
Don’t know why but this article is hilarious, it feels way more TMZ than you ever expect an article about disgraced former professional services leaders to be. The Australian has informed the world that scandal-plagued ex-PwC CEO Tom Seymour was spotted in public three days after the firm announced he would be retiring on September 30th. It appears he is wearing a hoodie from Deer Valley Ski Resort in Park City, Utah.
Anders CPA
MAY 23, 2023
Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees. Payroll remediation by experienced state and local tax advisors can alleviate these difficulties by working with the appropriate state and tax authorities to rectify past mistakes and ensure future compliance.
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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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