TaxConnex

SEPTEMBER 20, 2022

This blog will conclude our top 10 list with a look at 5 missteps to avoid when handling and resolving the audit. It’s also a good idea to assign one person from your company to manage the relationship with the auditor. The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through.

audit 191

audit Sales Tax auditor 191

TaxConnex

JUNE 1, 2021

That’s one reason some states give a collection discount to help with the costs of managing sales tax. This blog will evaluate some of the details surrounding these discounts, sometimes known as a vendor’s compensation or dealer’s discount. States offer it as a way of helping to pay administrative costs of compliance.

Sales 232

Sales Tax South Carolina Utah 232

TaxConnex

JUNE 27, 2023

However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise. Fortunately, there are options outside of managing sales tax on your own, but it leaves you with a choice - sales tax software or service provider?

Sales 130

Sales Tax auditor tax return 130

TaxConnex

APRIL 28, 2022

Now that’s much less common. Almost half the companies were penalized for rate or rule errors; two out of five were slapped for missing exemption certificates; and more than a third were penalized for late filings and a third for failing to register. Auditors can also use artificial intelligence to dig up even more evidence.

audit 175

audit auditor general ledger Minnesota 175

ThomsonReuters

JULY 25, 2023

Their answers provide a helpful roadmap for corporate leaders who are interested in automated tax solutions but need more information about what factors to consider and challenges to expect. Thomson Reuters: If a business is doing tax determination and rate management manually, is it feasible that the tax team can keep up?

Technology 93

Technology Tax audit Sales 93

Xero

FEBRUARY 1, 2024

Over the last 12 months, we’ve surveyed over 4,500 small business owners across the globe to find out how they’re managing cash flow amidst macroeconomic conditions such as high inflation and interest rates. Having less cash flow indicates that the business is struggling which may result in me becoming unemployed.

accounting and finance 108

accounting and finance bookkeeping Finance Account 108

CPA Practice

NOVEMBER 14, 2023

13-15, more than 2,500 accountants learned about many new product and feature innovations that will help them serve their clients through the QuickBooks Online ecosystem. Our 2023 event doubled down on how AI-driven innovations can help accountants and the small businesses they serve gain insights to make more informed business decisions.

quickbooks 119

quickbooks E-commerce Approval Workflows Account 119

Airbase

DECEMBER 5, 2023

This blog explores the critical importance of these reports, delving into how they contribute to financial transparency, regulatory compliance, and the overall efficiency of business operations. 5) Use a spreadsheet or an expense management solution to create the report. Steps to create effective business expense reports.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

ThomsonReuters

JANUARY 16, 2024

It can help you prevent or manage health problems, as well as enhance your quality of life. Wellness creates a positive cycle, where the more you do for your well-being, the better you feel. Manages time more efficiently Time is a precious resource for accountants, who often work long hours and juggle multiple projects and clients.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

JUNE 29, 2023

Managing tax clients isn ’ t always easy. To help firms learn how to deal with difficult clients, we ’ ll take a closer look at the behaviors of tax clients, the importance of managing expectations , and, if necessary, even firing clients. Behaviors of challenging tax clients The customer is always right. Or are they?

Tax 97

Tax Account accountant accounted 97

SkagitCountyTaxServices

FEBRUARY 22, 2024

We’re less than a month away from March Madness. Something to mark on your office calendar, that’s also less than a month away: The March 15 S-corp and partnership filing deadline for 2023 taxes. See, I try to be very strategic and tactical in what I share with you in these blogs. But to get that gold out, he needed machinery.

Colorado 75

Colorado CPA Start-ups Tax 75

ThomsonReuters

FEBRUARY 6, 2024

Amidst a rapidly changing regulatory landscape, it can seem more challenging than ever to understand your sales tax obligations in every jurisdiction in which you do business. At that point, more questions arise – should I be registered for VAT or GST ? Want to learn more about preparing for 2024 and beyond for indirect tax?

Sales 98

Sales Tax audit Account 98

ThomsonReuters

FEBRUARY 29, 2024

More importantly, there was almost no pushback from clients. Now, Lanphier seeks a relatively small and owner-manager business with fewer than 100 employees that don’t have a CFO. After a few years, she and her husband Dennis left to start their own business. B ut after attending the Partner Summit, she felt differently.

CPA 97

CPA Account accountant accounted 97

ThomsonReuters

NOVEMBER 2, 2023

9 steps to apply SAS 145 Managing SAS 145 compliance What does SAS 145 address? This change aims to promote a more consistent and objective approach to assessing risks. Firms may find that such an approach can help drive more efficient and effective audits. Managing SAS 145 compliance Remember: SAS No.

auditor 105

auditor audit Government Account 105

CPA Practice

MAY 12, 2023

Examples include printed editorial, billboards, awards, SEO strategies, and more. Retention: Costing less than campaigns used to gain clients, retention campaigns focus on nurturing clients and keeping them loyal to the brand. Examples include VIP events, email campaigns, phone calls, account reviews, and more.

Sales 98

Sales Account accountant accounted 98

ThomsonReuters

NOVEMBER 29, 2023

This, in turn, puts tax departments at greater risk for even more audits and stiffer penalties. And, not surprisingly, Artificial Intelligence (AI) is viewed as a game changer for tax compliance and automation, helping with resourcing issues and helping tax professionals provide higher-quality advice with less effort.

audit 98

audit Technology Tax corporation tax 98

DuctTapeMarketing

JULY 14, 2018

According to US Bank, 82% of businesses that fail, are actually profitable but failed to manage their cash flow. Handle payments and manage accounts payable. Sometimes it’s best to focus on the things that help grow your business. It allows small business owners to worry about one less thing. Social Media. Website Design.

bookkeeping 238

bookkeeping accounting and finance accounting software bookkeeping services 238

ThomsonReuters

JANUARY 14, 2022

The fight against burnout starts with managing stress. If someone in marketing has a typo, it may be embarrassing, but it rarely costs the company more than some pride. Numbers are less flexible, and even a seemingly small error can have serious consequences. Most people do more than they need to. What is burnout?

Tax 98

Tax Technology Start-ups accounting software 98

Xero

MARCH 13, 2024

If you’re using Xero, you can find more helpful information in our handy guide for getting ready for financial year end. There are digital tools available that automate your expense management so that it’s less of a headache by the end of the year. You may want to consult an accountant or bookkeeper for this step.

tax return 85

tax return bookkeeping accounting software payroll 85

Xero

JULY 31, 2023

The more recent data (to June) that we have for Australia, New Zealand and the UK showed sales growth also slowed in these countries – at 6.3% The average small business in the other four countries is selling less items and only growing their sales due to price rises rather than actually moving more items. y/y and 7.6%

Sales 90

Sales Transportation Start-ups Maine 90

Xero

MAY 1, 2023

Managing people is one of the biggest challenges faced by small businesses. The complexity of payroll obligations makes this even more of a burden. This is part of our suite of employee management tools available in Australia, helping employers and employees connect in real time.

payroll 93

payroll Hospitality Healthcare Start-ups 93

Xero

APRIL 2, 2024

By optimising your systems and processes to create more seamless workflows and win back time. Take what you need from these tips and tricks to stay on top of your numbers, and remember, your financial advisor is always there for more support should you need it. To learn more, check out Xero Central. A good place to start?

Account 87

Account accountant accounted Tax 87

ThomsonReuters

JUNE 16, 2023

Now with the public health emergency officially over , the shift to more remote work has become the new normal. This blog will explore the talent and hiring trends within the accounting profession post-pandemic, and what the future may hold for accounting firms’ remote or hybrid work models.

accounting firms 111

accounting firms Account accountant accounted 111

ThomsonReuters

DECEMBER 1, 2023

In other words, a business cannot deduct more money than it made. MACRS depreciation enables a business client to claim a larger tax deduction in the initial years of an asset’s life and deduct less in the later years. Let’s take a closer look at the form and its uses. What is Form 4562? What is listed property for depreciation?

tax return 97

tax return Tax Transportation Non-Profits 97

Xero

MARCH 5, 2023

One of my favourite things since starting at Xero Asia is the discovery of the many cloud applications that empower the region’s SMEs by making them more efficient and productive. Now that Singapore has entered an endemic phase, I can’t wait to get out there and meet more of the Xero community.

payroll 75

payroll Technology B2B Gaming 75

ThomsonReuters

APRIL 4, 2024

Under these rules, multinational companies with revenue of more than €750 million have to pay a minimum rate of tax, wherever their profits are booked. Nagalkar says tax departments, under increasing pressure to adapt to new regulations and manage complex data, are working with limited resources. You have to do more with less.

Technology 52

Technology Tax tax return Government 52

ThomsonReuters

JUNE 16, 2023

Microsoft Excel, Power BI) as a valuable (either very valuable or somewhat valuable) skill/competency for new professionals. Data analytics enable accounting professionals to provide clients the valuable insights they need to improve their business, drive efficiencies, and enhance risk management. What is upskilling?

Account 98

Account accountant accounted Technology 98

Xero

JANUARY 30, 2024

Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment. Here’s some tips, tricks, and insights to help you understand what’s involved, and how Xero can help you manage all your property finances in one place , giving you the freedom to free swim!

Account 95

Account accountant accounted accounting and finance 95

Xero

NOVEMBER 22, 2023

What is more interesting is to see the differences in the size of the spending impacts across countries. Small retailers have been particularly hard hit Stretched households are increasingly having less to spend on the non-essential items once they have paid for mortgages/rent, groceries and household bills. In New Zealand (+0.7%

Sales 100

Sales Retail Start-ups 100

Shay CPA

APRIL 3, 2024

Organize according to GAAP If you’ve been following our blogs, you’ve probably seen this come up before. When your startup is small and scrappy, it’s tempting to manage your bookkeeping according to your preferences (and, in many cases, your available time). They widely apply to U.S.-based based companies.

bookkeeping 59

bookkeeping Finance accounting and finance accounting principles 59

Xero

JUNE 8, 2023

But if you get an advisor to take care of time-consuming tasks, like tax, it’ll likely cost less per hour than what you would pay yourself. More importantly, they can give you plenty of great advice about running your business (beyond just meeting your compliance needs). Looking for more year-end tips?

Retail 93

Retail Tax bookkeeping payroll 93

Xero

SEPTEMBER 7, 2022

We launched part one , which examined and offered insights into how small businesses can improve their cash flow management, at Xerocon London in July. This follow-up report analyses data from more than 200,000 small businesses in Australia, New Zealand and the United Kingdom. It’s so fantastic to bring Xerocon back to Sydney.

bookkeeping 97

bookkeeping payroll Start-ups Account 97

Xero

JULY 20, 2022

Running a small business certainly isn’t easy — and the pressure only increases when it comes to managing employees. In fact, research we recently conducted in partnership with Lonergan Research revealed almost half (49%) of UK small business owners surveyed said managing employee processes and compliance was taxing on their mental health.

payroll 93

payroll Technology Tax Account 93

Acterys

FEBRUARY 27, 2023

In this blog, we’ll explore how Chat GPT is set to disrupt the planning industry and how businesses can integrate Chat GPT with Acterys’ xP&A capabilities to use conversational AI for lightning-fast analysis. What was last year’s revenue from the APAC region and how does it compare with the EMEA region for the same period?

Construction 130

Construction Technology Sales 130

Snyder

OCTOBER 31, 2022

How to add a blog to your Shopify store? On the other hand, you have fewer competitors and a more targeted audience with a higher purchasing intention. Whatever the reason, selling on Shopify may become your solution as it’s really easy and convenient. A guide to e-commerce business with Shopify: 1. How to customize a Shopify store?

E-commerce 97

E-commerce Start-ups Tax Sales 97

Mark Lee

MARCH 12, 2024

I hope you would agree that clients choose you as their accountant because they believe that your services will be of more value to them than those of a cheaper accountant. Your annual fees may well be less than the fines and penalties they have paid previously. Or else they stay with you because you are cheap. It’s a pain.

Non-Profits 52

Non-Profits Account accountant accounted 52

Mark Lee

DECEMBER 12, 2023

My advice in this blog post about safeguarding your practice largely concerns only what I might call ‘simpler’ clients. But there are wider lessons too ;-) At some stage, many clients with ‘simpler’ needs will decide (wrongly perhaps) that they don’t need an accountant any more.

tax return 94

tax return Tax bookkeeping bookkeeping services 94