ThomsonReuters

JULY 25, 2023

A recent article from Thomson Reuters, “ Baker Tilly’s Michele Donohue Makes the case for Automation in Tax Practice ,” discusses the benefits of automation in tax practice, as well as the role of artificial intelligence.

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CPA Practice

JULY 31, 2023

In today’s globalized world, offshoring and outsourcing have become prevalent strategies adopted by CPAs, accounting, and tax firms to optimize their operations, minimize expenses, and tap into specialized expertise. Here are the 20 essential offshoring and outsourcing best practices that accounting and tax firms should know and implement.

Tax 98

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Nancy McClelland, LLC

MARCH 22, 2024

We were extremely diligent in filing ERC claims for our clients — it took literally months of effort in research, software development, calculations, data collection, interviews and narrative-writing, not to mention preparing the actual tax forms and support. Considering that more than 3.6 ” And this makes sense.

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PANALITIX

AUGUST 9, 2020

Rapidly Growing an Accounting Firm: An Interview with Glenn Hetzel. In a wide-ranging interview, Glenn Hetzel, Managing Partner of Glenn B. With exposure to international tax and accounting, Glenn attracted foreign capitalized companies investing in the USA, some with global revenues in excess of $100 million. Here are excerpts.

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DuctTapeMarketing

JULY 14, 2018

Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. This task helps you avoid running out of money suddenly — leaving you unable to pay employees, vendors, or Uncle Sam. Taking a look at shipping costs can also help save a business money. Prepare the books for tax season.

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ThomsonReuters

FEBRUARY 18, 2022

Aside from resumes, assessments, and background checks, the job interview is essential for hiring decisions. If you are interviewing new accountants, you should be well-prepared and methodical. Here are 12 best practices to implement before and during interviews for new accountants. This helps screen candidates.

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CPA Practice

MAY 12, 2023

While most firms are now comfortable using international resources for fundamental tasks like bookkeeping and tax preparation, forward-thinking firms are calling on them to help with increasingly technical and strategic tasks. Armanino, for example, turned to Scrubbed to help with audit engagements. “We

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Snyder

NOVEMBER 10, 2022

The biggest tax season challenge for a small business is tax preparation and filing. Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. What is tax software? Online tax preparation + IRS forms.

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CPA Practice

JUNE 28, 2023

Benjamin Franklin famously wrote, “[I]n this world nothing is certain but death and taxes.” sets forth aspirational best practices that tax practitioners should consider. Be prepared by incorporating best practices into your practice It starts at the beginning!

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inDinero Tax Tips

NOVEMBER 4, 2021

However, most businesses are unprepared and need IRS tax audit help. In this article, we will discuss what an audit is, why you might get audited, and how to prepare for an audit. An audit is the way the Internal Revenue Service (IRS) ensures that what’s being reported on your tax return matches your business activities.

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Going Concern

AUGUST 28, 2023

Accounting firms across the pond are ditching Zoom interviews, writes Sunday Times : Zoom calls became the norm for business meetings during the pandemic — but accountancy firms, among the biggest graduate recruiters, are going back to face-to-face interviews when hiring, saying it is easier to assess candidates’ characters.

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MazumaBusinessAccounting

JANUARY 31, 2023

Accounting and tax software have made it possible for small businesses to get along without having an in-house accountant. However, as businesses grow, accounting issues get more complex, and tax filings become too cumbersome for owners to handle. Overview: What Does a Small Business Accountant Do?

Account 52

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MazumaBusinessAccounting

FEBRUARY 1, 2023

Accounting and tax software have made it possible for small businesses to get along without having an in-house accountant. However, as businesses grow, accounting issues get more complex, and tax filings become too cumbersome for owners to handle. Overview: What Does a Small Business Accountant Do?

Account 52

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xendoo

OCTOBER 20, 2021

Getting behind in your books can leave you frantically preparing for tax season. Without accurate financial records, it can be harder to secure funding and prepare for the future, too. Tax preparation. Tax Planning. But as your business starts to take off, it can leave you with a difficult choice.

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MyIRSRelief

NOVEMBER 1, 2019

If you or your company are being audited by the Internal Revenue Service, this is when proper IRS tax audit representation can help. And while having a trained tax preparer, an accountant, or even a CPA is beneficial, that all changes when the IRS decides to conduct an audit. Audit Tax Issues.

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ThomsonReuters

MAY 5, 2022

Attracting and retaining top talent has been an industry-wide concern for many tax and accounting firms for years. Some tax and accounting firms lost key personnel to competing firms or other industries, and some associates simply moved on in search of a new career or better quality of life.

Tax 96

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Dent Moses

MAY 4, 2023

Fast forward a few months or a year and the time comes to prepare tax returns or provide financial statements to the owners, a bank, or another third party. The ability to prepare accurate and timely financial statements and tax returns is a very important part of owning or managing a business.

Account 52

Account accountant accounted tax return 52

Dent Moses

APRIL 21, 2023

Fast forward a few months or a year and the time comes to prepare tax returns or provide financial statements to the owners, a bank, or another third party. The ability to prepare accurate and timely financial statements and tax returns is a very important part of owning or managing a business.

Account 52

Account accountant accounted tax return 52

Ronika Khanna CPA,CA

FEBRUARY 10, 2023

One of the major ones is ensuring that you are aware of, and fulfill, your tax obligations on a timely basis. In the beginning these tax obligations can seem mystifying and somewhat overwhelming, but once you understand what needs to be done, the enigma surrounding the process dissipates and it tends to become routine.

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Withum

FEBRUARY 20, 2024

That strike was during tax season, and I spent three weeks in federal service to get the mail delivered. Traveling in Manhattan was very easy with the subways, plus I had some free time to work on tax returns. I also worked late into the night on tax returns. The 369th Regiment was an artillery unit when I enlisted in 1965.

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Accounting Insight

NOVEMBER 11, 2022

At Accountex Summit Manchester, Dorcas Mbwiti, Senior Product Manager at Wolters Kluwer Tax & Accounting UK took the opportunity to talk to Sarah Davy, Partner at Edwards Greene. A: I’ve been involved in tax for 20+ years on the private client side of things. What do firms need to think about now in preparation?

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income tax Tax bookkeeping software accounting and finance 52

Xero

JULY 21, 2022

On Wednesday morning, I was joined by Alex von Schirmeister, Managing Director, UK & EMEA, on stage where Alex shared some insights into his time at Xero so far and his passions for really working with our partners to help small businesses in the UK and EMEA. . Making Tax Digital for Income Tax Self-Assessment.

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ThomsonReuters

APRIL 13, 2023

These two words can strike fear in the hearts of your tax and accounting clients: IRS audit. Understanding how to manage client expectations and concerns and how to get through the process is an essential skill in the tax and accounting professions. These steps will help when clients come under IRS scrutiny.

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audit accounting firms Tax Account 52

Shay CPA

FEBRUARY 22, 2023

If you’re not capitalizing on the federal research tax credit — commonly called the R&D tax credit — you could be missing out in a major way here. This credit lets you reduce your tax liability. It can get complicated, but we’re here to help. In other words, there’s no double tax benefit here (unfortunately).

Tax 52

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CPA Practice

MARCH 20, 2023

So instead of concerning yourself mostly with backward-looking and tax-centric financials, a CFO’s chief goal is to help lead sustainable business growth using past financial information to think and plan ahead. The path toward becoming a VCFO is straightforward but not everyone’s journey will be the same. What Is a CFO?

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Going Concern

SEPTEMBER 22, 2023

In addition to his new role, he will continue to serve as co-director of the firm’s DC-Metro tax practice. People Ken Miller set to retire after more than three decades of service [ Virginia Tech ] After more than 35 years of dedicated service to Virginia Tech, Ken Miller has announced his retirement. That was all ego.

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Going Concern

SEPTEMBER 1, 2023

The professional and business service sector added 19,000 jobs, including 2,700 in accounting, tax preparation, bookkeeping and payroll services. Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Is your firm hiring? billion ($2.21

Account 91

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RitaKeller

AUGUST 31, 2021

Every firm I talk to is looking for qualified people to help the firm provide exceptional client service. Some firms have turned to Paro to obtain experienced tax and accounting skills. If you are matched with a person, you get to meet them and interview them before making a decision. ” – Chad Taylor, Paro.

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cpa firm tax preparation auditor CPA 59

ThomsonReuters

DECEMBER 9, 2020

According to Tom Hood, it doesn’t help that audits went virtual because the dynamic of the audits has changed. Phone interviews do not provide the same level of comfort. Tom Hood recommends recording some of the fraud interviews. Technology can help too. It also means that fraud risk is increasing.

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CPA Practice

JULY 18, 2023

Ultimately, however, Porizkova settled with the estate, implying in an interview that she had received a third of its multi-million-dollar value. Prepare for death “I think, in general, there is some hesitancy about estate planning because people don’t like to contemplate their own deaths,” says New York attorney Samuel F.

South Carolina 98

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Xero

JULY 20, 2022

In addition to managing cash flow and getting paid on time, small businesses will need to comply with government legislation Making Tax Digital (MTD) which impacts over four million businesses across the UK. Thank you to the more than 2,000 delegates and app partners who joined us today. . Adapt to the changing world of work.

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Going Concern

MARCH 24, 2023

This was necessary to help clients get through the pandemic, but now firms need to recognize how changes caused by COVID-19 — most notably the technology-fueled explosion of remote work and a talent shortage in many firms — have transformed the workforce and firm-client interactions. CLA, 8th Largest U.S.

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Ryan Lazanis

SEPTEMBER 27, 2023

Besides bookkeeping, they can handle other accounting tasks, with potential tax law training needed. Botkeeper manages the financial records with the help of a financial software such as Xero or QuickBooks Online. Each has its own pros & cons. Outsourcing doesn’t necessarily need to take place in another country.

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Going Concern

MAY 5, 2023

Entry-level CPAs in advisory practices are making $11,000 more than CPAs starting out in audit and tax, and $20,000 more than non-CPAs in advisory. Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The gap widens again at the upper levels.

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ThomsonReuters

JANUARY 12, 2023

A remote audit policy should outline what technology will be used and how it will be used in such areas as document reviews, site reconnaissance, and remote interviews. This helps ensure that data remains secure and audit teams have timely access to the documents they need. How do you develop a remote audit policy? Document reviews.

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Ryan Lazanis

JANUARY 23, 2023

This guide will shed light on how a virtual assistant (VA) can help, what they can do, and where to find them. In my previous firm, I never had a VA to help me out, but I would definitely hire one had I known about the benefits they bring and what they could do. Let’s get started. What Can a Virtual Assistant Do at Your Firm?

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DuctTapeMarketing

JULY 31, 2018

Since the software is built with non-accountants in mind, there are also often a plethora of help guides and videos available for you to consume at your leisure. Since the software is built with non-accountants in mind, there are also often a plethora of help guides and videos available for you to consume at your leisure. Time-savings.

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