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Virginia Accountant Sentenced For Wire Fraud Stemming From Embezzlement Ploy

CPA Practice

By Stacy Parker The Virginian-Pilot (TNS) VIRGINIA BEACH — An accountant who pleaded guilty of stealing more than a $1 million from a local condiment company for personal travel and entertainment and misusing pandemic relief funds has been sentenced to four years in prison. District Court in Norfolk. Reich was ordered to pay $1.3

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The R&D Tax Credit and Payroll-Tax Offset Swirl: It’s A Tax Treat for Qualified Small Businesses

inDinero Tax Tips

If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. Follow along for a brief R&D credit breakdown and how it and the payroll offset work together like a perfect chocolate and vanilla swirl. What is the Payroll Tax Offset?

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Cloud-Based Accounting: Sage Intacct’s Modern Solution for Businesses

Cherry Bekaert

Accounting , fondly known as the ‘language of business,’ tells the story of how a business is performing. 1) Fast-forward to present day and the fundamental concepts performed by modern bookkeepers and accountants remain, but functionality and performance look vastly different in the age of all things digital.

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Unity Business Advisors: Transforming Client Satisfaction with Canopy

Canopy Accounting

Profile Unity Business Advisors is a firm located in Lynnwood, WA, with a strong presence in the accounting industry for the past 25 years. They offer a wide range of services, including small business financial accounting, tech services, profit and loss statements, payroll, tax planning, and tax advisory.

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Accounts payable vs. accounts receivable: What are the differences?

ThomsonReuters

Accounts payable and accounts receivable are opposite but interconnected procedures. Together, they comprise the very basics of business and can be used to gauge financial health. When accounts payable and accounts receivable are in balance, a business can plan ahead for growth.

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Fraud Makes Headway Via ‘Payroll Diversion’

PYMNTS

In terms of fraud done digitally, one firm, Agari, has estimated that “payroll diversion” is “ramping up,” where HR administrators are being duped into sending payroll funds to fraudsters’ accounts. As has been reported, the audit landscape in the U.K. is dominated by four firms, among them KPMG, Deloitte, EY and PwC.

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Commingling Funds: How to Address the Problem and Avoid It in the Future

inDinero Tax Tips

One of the most common problems for startup founders is the commingling of funds: when you pay for personal transactions from a business account, or visa versa. You’ll reimburse yourself if you’ve used personal accounts to pay for business expenses. The solution to commingling funds is simple but tedious.