ThomsonReuters

JANUARY 12, 2023

The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . With advanced technology shifting the way accountants work, many are looking to expand into specialized services that can give them a leg up on the competition. Let’s start from the beginning. .

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ThomsonReuters

JUNE 16, 2023

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. Is your firm ready?

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ThomsonReuters

DECEMBER 20, 2020

What is the difference between sales tax and value-added tax (VAT)? Both sales tax and VAT are types of indirect tax – a tax collected by the seller who charges the buyer at the time of purchase and then pays or remits the tax to the government on behalf of the buyer. Sales tax vs. VAT overview. Taxability of purchases by business.

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ThomsonReuters

JANUARY 20, 2023

Firms are now turning to audit talent with new skillsets to help them navigate new challenges. New paths for audit talent It isn’t news that the rise of technology caused dramatic changes in the audit profession. More than ever before, today’s audit talent needs more than technical skills.

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audit auditor Technology CPA 59

ThomsonReuters

JANUARY 4, 2024

Take advantage of wellness benefits The numbers are in, and they reinforce the mental health challenges facing accountants. Nearly 9 in 10 accountants want a better work-life balance, while just over 70 percent would like more help from their organizations to manage mental health, according to ACCA’s Global Trends Survey 2023.

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ThomsonReuters

APRIL 21, 2022

A 2021 HITECH Act amendment requires OCR to consider in security rule enforcement and audit activities whether a covered entity or business associate has adequately demonstrated that “recognized security practices” were in place for the prior 12 months. Comments must be submitted by June 6, 2022.

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TaxConnex

APRIL 27, 2021

In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Nexus is your company’s connection with a state or other tax jurisdiction (such as municipalities ) that’s substantial enough for that jurisdiction to hold you accountable to their sales tax laws.

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ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

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Nancy McClelland, LLC

APRIL 11, 2023

My note: Your small business accounting file needs to be tied out to source documents and all adjustments booked before we will finalize a return, and there may be delays in this process due to a variety of issues. Am I more likely to be audited if I extend? Extending will NOT increase your likelihood of being audited by the IRS. •

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DuctTapeMarketing

JULY 31, 2018

 Services Online Audit. How Cloud-Based Accounting Software Can Benefit Your Business. How Cloud-Based Accounting Software Can Benefit Your Business. One area that business owners know is important is accounting and bookkeeping, although it’s often the last area they want to spend time on. Strategy First.

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ThomsonReuters

DECEMBER 15, 2022

What is sustainability auditing ? So, what is sustainability auditing ? Sustainability auditing is considered a major component of a company’s business strategy as it helps ensure that a company is both sustainable and profitable. The big box retailer has set forth a number of sustainability goals , including: .

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inDinero Accounting

DECEMBER 13, 2021

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. Benefits of Accounting Software.

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Snyder

NOVEMBER 17, 2022

Accountancy firmly belongs to the financial sector but it also shares a lot of key features with the service industry. No one can be an expert in all those areas, that’s why finding a helpful blog for accountants is such a great idea. So let’s begin our journey to the land of accountancy! What’s a great accounting blog?

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ThomsonReuters

AUGUST 3, 2023

In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. Enhancing reputation and credibility Specialization builds a reputation for excellence and credibility within the accounting industry.

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ThomsonReuters

JUNE 16, 2023

When one thinks of accounting fraud, it is likely that these are some of the cases that come to mind. However, most cases of accounting fraud will not make news headlines and can happen in companies of all sizes and industries. When someone is found guilty of committing accounting fraud, they are subject to criminal prosecution.

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Acterys

FEBRUARY 22, 2023

Types of Financial Reports for FP&A Teams One of the main responsibilities of an FP&A team is to assess the financial well-being of a company by compiling reports. In this blog, we look at three main reporting types that FP&A teams must use to monitor the financial health and performance of a business.

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ThomsonReuters

NOVEMBER 15, 2023

For accountants, understanding the ins and outs of tax deductions for charitable contributions , including how to properly report monetary donations using Schedule A, is an essential part of tax planning for clients. However, certain types of contributions, such as those made to private foundations , have lower limits.

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ThomsonReuters

MARCH 1, 2024

How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs). You may wonder how the S corporation taxation generally works. How are S corporations taxed?

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corporation tax Tax tax return income tax 52

Accounting Insight

NOVEMBER 29, 2022

Accounts payable automation, also known as AP automation or invoicing automation, is the process of automating accounts payable processes and activities while collecting the critical data required to make smart decisions, improve efficiency, and grow your business. IMPROVING AP EFFICIENCY BY ELIMINATING BOTTLENECKS IN THE AP PROCESS.

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Accounts Payable Automation accounts payable Technology accounting firms 52

Shay CPA

FEBRUARY 14, 2024

As of the publication of this blog post changes to the rules of Section 174 are being considered in Congress with initial legislation passing in the House of Representatives. Dial in Your Accounting System You don’t need to sink a ton of hours into your accounting. For that, we tapped an expert. First, they’re easy to set up.

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ThomsonReuters

APRIL 18, 2023

Therefore, preparing financial statements that are in compliance with generally accepted accounting principles (GAAP or U.S. GAAP) is paramount for accounting professionals and all of those involved in financial reporting. What are the GAAP standards? What is the main purpose of GAAP? What are the major GAAP principles?

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ThomsonReuters

JUNE 7, 2023

From the middle of the bustling expo at PayrollOrg’s 41st Congress conference in Denver on May 17, Lisa Weckman, VP of Product at Ceridian, talked with Checkpoint Payroll Update about global payroll challenges facing the industry. “If you just look at the U.S., in many areas, including human resources and payroll.

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payroll audit payroll tax Tax 52

Withum

JANUARY 24, 2023

In my last blog , I presented some best practices around Admin roles that can be used to target Microsoft 365 workloads such as Exchange Online, Microsoft Teams or SharePoint Online. Welcome back for round two of permissions in Office 365/Microsoft 365. block or encrypt if shared outside of the organization).

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ThomsonReuters

NOVEMBER 15, 2023

Accountants who serve these organizations must fully understand the relevant tax exemptions, filing requirements, and reporting regulations in order to ensure their clients’ financial transparency and compliance. Do charities get tax exemptions? Donations to non-charity organizations (i.e., GoFundMe, political donations, etc.)

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ThomsonReuters

JANUARY 6, 2022

As background, ERISA’s prohibited transaction exemption for reasonable service provider arrangements was amended by the Consolidated Appropriations Act, 2021 (CAA) (see our Checkpoint article ) to provide that arrangements for certain types of group health plan services are reasonable only if specified disclosure requirements are met.

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ThomsonReuters

NOVEMBER 11, 2021

Transfer pricing is an accounting practice in which a particular division or subsidiary of a company charges a second division or subsidiary of the same company for goods or services. It can be used both domestically and across borders; when used internationally, it can take advantage of varying tax rates in different countries. .

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audit Tax corporation tax Government 52

inDinero Accounting

DECEMBER 13, 2021

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data.

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NetSuite accounting software quickbooks Account 59

LyfeAccounting

MAY 27, 2021

Different IRS Letters You Could Receive. The code number is important because it tells you what type of notice they are sending you. There are over 75 different notices you could receive from the IRS. IRS Letter Type #1. Picture this…. It’s the end of the week and it’s a beautiful day outside. You’re not alone.

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tax return audit Tax accounting and finance 52

ThomsonReuters

DECEMBER 15, 2020

Companies face three main challenges when preparing to implement operational transfer pricing (OTP) technology—finance system and data issues, accountability questions, and continually changing compliance requirements. Who’s Accountable? ” Iyer added that the accountability issue comes down to actual, tactical questions.

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Technology accounting and finance Tax Finance 52

Nancy McClelland, LLC

DECEMBER 26, 2023

Here’s a crash course for each type of form, followed by an FAQ. You cannot depend on the company’s name to determine corporate status, nor can you rely on the state LLC/Corp database, as it only indicates the entity type at the state level — almost any type of entity may elect corporate status with the IRS.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

Here’s a crash course for each type of form, followed by an FAQ. You cannot depend on the company’s name to determine corporate status, nor can you rely on the state LLC/Corp database, as it only indicates the entity type at the state level — almost any type of entity may elect corporate status with the IRS.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

ThomsonReuters

NOVEMBER 8, 2022

Most accountants know that choosing the right accounting technology can boost the ability to serve clients, satisfy staff, and build deeper client relationships.?But But how do you take full advantage of technology to streamline accounting processes? . Assess your current processes and tech stack. Take inventory of systems.

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ThomsonReuters

AUGUST 26, 2022

See how organizations are developing strategies to mitigate different forms of geopolitical risk in our free on-demand webinar, Impact of Sanctions and Export Controls on Global Supply Chains. Companies are also increasingly attuned to issues which are affecting how they approach their suppliers and vendors.

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Virginia corporation tax audit Legal 97

ThomsonReuters

DECEMBER 10, 2020

The Form 5500-EZ must be filed electronically by filers of 250 or more returns of any type with the IRS in a calendar year (subject to a hardship exception). Accountant’s Opinion. Line 3b of Schedule H has been revised to add check boxes to indicate whether the audit was performed pursuant to those DOL regulations. News Release.

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audit Tax Account accountant 52

LyfeAccounting

MARCH 10, 2021

CPA services are accounting services that are provided by a Certified Public Accountant, also known as a CPA. CPA services are accounting services that are provided by a Certified Public Accountant, also known as a CPA. Compilations are basically financial statements that are prepared by an outside accountant.

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CPA cpas bookkeeping tax preparation 52

ThomsonReuters

JANUARY 2, 2024

The Working Groups issued a Request for Information (RFI) , seeking input from a host of entities, ranging from unions, care advocacy groups, business groups, and think tanks, to suggest ideas on how the program should be funded, the suggested scope, and the role of the federal government. Requests for responses are due January 31, 2024.

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Legal New Hampshire Colorado New Jersey 52

Snyder

FEBRUARY 7, 2023

Need accounting assistance? Synder Accounting Software Every small business needs a good accountant, and Synder’s accounting software has everything you need all-in-one. Synder Accounting Software Every small business needs a good accountant, and Synder’s accounting software has everything you need all-in-one.

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