ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables.

income tax 75

income tax Tax Legal tax return 75

ThomsonReuters

DECEMBER 1, 2023

Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for  depreciation  or  amortization  of assets is critical. Section 179 deductions are limited to annual taxable business income. Jump to: What is Form 4562? What is Form 4562?

tax return 97

tax return Tax Transportation Non-Profits 97

Basis 365

JULY 25, 2023

Effective financial management is crucial for the success of any business, including marketing companies. So, let's explore the top accounting KPIs vital for a marketing company's financial management. Calculating CAC allows businesses to assess the effectiveness of their marketing and sales efforts.

Account 97

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ThomsonReuters

APRIL 5, 2024

Businesses that do not have sound tax provision processes are at an elevated risk of damaging their company’s financial health. By understanding the significance of interim tax reporting and following best practices, businesses can effectively navigate this process. Why is interim reporting important?

Tax 68

Tax income tax financial statements accounting standards 68

Xero

OCTOBER 9, 2023

One of the most important ways we’re helping you save time and grow your practice is by moving towards a future where Xero Practice Manager (XPM), Xero HQ and Xero Tax will be seamlessly connected. Delivering the single client record to your practice is the next step in achieving this vision.

Tax 93

Tax Start-ups Account accountant 93

ThomsonReuters

DECEMBER 11, 2023

Accounting for tax equity investments Implementing ASU 2023-02 Accounting professionals with equity investor clients who are involved with projects to receive income tax credits and other income tax benefits need to have a clear understanding of the proportional amortization method (PAM), especially in light of recent changes.

income tax 52

income tax accounting standards Non-Profits accounting and finance 52

Cheap Accounting

AUGUST 31, 2023

Entering the world of self employment and being your own boss is extremely exciting. The one downside is dealing with the bureaucracy and regulation that running a business brings. Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory.

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ThomsonReuters

MARCH 21, 2023

But, what just happened was that you gave away your knowledge and expertise for free—expertise that you can and should be paid for when clients ask for advice that falls outside the scope of work you have been hired to do. On this April Fools’ Day, don’t get tricked into giving away your expertise.

CPA 97

CPA Tax tax return accounting firms 97

Xero

NOVEMBER 14, 2022

If you’re an accountant or bookkeeper, you’ll know that having consistent information across your practice management tools is vital. That’s why we’re working hard to create a single source of truth for your client data across Xero Practice Manager (XPM), Xero HQ and Xero Tax. What’s changing in XPM and Xero HQ.

bookkeeping 76

bookkeeping Tax Account accountant 76

xendoo

NOVEMBER 2, 2021

When making a major purchase for your business, you are expected to spread the tax deduction out over the lifespan of that purchase, which provides small tax savings over the years. Business owners can take advantage of Bonus Depreciation and Section 179 to invest in their businesses, resulting in an enormous tax break! .

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Tax cpas bookkeeping online accounting 98

Menzies

JANUARY 19, 2023

Menzies LLP - A leading chartered accountancy firm. Sam Goodsell – Director The key to going global in the tech sector is both in the planning and seeking of advice where expertise is not held internally within the business. Find out more about Menzies technology sector expertise. What are the rules and risks of an area?

Technology 52

Technology chartered accountant payroll tax payroll 52

Xero

AUGUST 17, 2022

This guest blog post is written by Jaclyn Anku who runs Community & Education for the HR and payroll platform Gusto. Before joining Gusto, Jacklyn led business education for accountants and bookkeepers at Xero. Want to begin building that, and help more of your culture shine through? Your great people.

Healthcare 81

Healthcare bookkeeping Education payroll 81

Acterys

FEBRUARY 22, 2023

To deal with economic and market turbulence, businesses must create well-rounded financial plans and monitor business performance against targets regularly. FP&A teams play a key role in ensuring the financial stability of a business. Here are some examples of financial statements: 1.

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financial statements accounting and finance Sales Finance 130

ThomsonReuters

MARCH 13, 2023

Our colleagues will be able to chart a course for success in our purpose-built practice structure.” LLC.  Our colleagues will be able to chart a course for success in our purpose-built practice structure.” ”   Just a few months later, Lightyear Capital announced that it was buying into Schellman & Co.,

Technology 59

Technology accounting firms Tax audit 59

Accounting Insight

JANUARY 5, 2024

Despite how common VAT is, the tax is difficult at the best of times to understand. That’s why we share plenty of knowledge on the topic, from an in-depth introduction to EU VAT to how VAT changes when trading between different EU countries. Consumers pay GST, and businesses remit it to the government. What’s GST?

audit 52

audit Tax Maine Government 52

ThomsonReuters

OCTOBER 24, 2023

In addition, as businesses become more globalized, accountants must be able to account for transactions in multiple currencies,” wrote Benjamin Wann, owner of Asheville, N.C. based CFO Consultants, in a blog post. accounting software, payroll, etc.) Data is king in today’s fast-paced world of finance and tax.

Technology 52

Technology Tax corporation tax accounting and finance 52

Going Concern

FEBRUARY 12, 2024

EY piled more than $700mn of extra debt on to its global operating business to deal with the costs of the failed plan to spin off its consulting arm, according to newly filed accounts. Between a wave of retirees and a drop in the number of people graduating with accounting degrees, the whole profession is struggling to staff up. “We

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auditor Account accountant accounted 70

ThomsonReuters

DECEMBER 19, 2023

How are environmental taxes calculated? Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. That’s why it’s important to understand the complexities of these initiatives and how making eco-friendly choices can maximize tax savings. How are environmental taxes calculated?

Tax 52

Tax Account accountant accounted 52

Nancy McClelland, LLC

DECEMBER 28, 2022

They truly changed my life for the better (not to mention the lives of thousands of small business owners) when they decided to create a tech-forward payroll company that seamlessly syncs with QuickBooks Online. More in this blog post and from the IRS here.). We may earn a commission as well — win-win!

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payroll payroll tax income tax quickbooks 52

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. How do you prepare for a sales tax audit? Almost all companies undergo a sales tax audit at some point.

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audit Sales Tax auditor 105

ThomsonReuters

APRIL 24, 2023

While SAS 145 “does not fundamentally change the key concepts underpinning audit risk,” as explained in the Executive Summary accompanying the new standards (the Executive Summary), it does enhance and clarify aspects of the identification and assessment of the risks of material misstatement. 15, 2023.

auditor 59

auditor audit financial statements Tax 59

Mark Lee

DECEMBER 5, 2023

Despite the title of this post I should first stress that it is rarely a good idea to come across as a salesperson when you are trying to promote your services. The best accountants know that they must first build rapport and confidence so that prospects like and trust them. Remember that to ASSUME makes an ASS of U and ME.

Sales 52

Sales Account accountant accounted 52

ThomsonReuters

OCTOBER 11, 2021

Is it in inline with the goals and values of your company? Is it being demonstrated by the leaders in your firm? Ask yourself the following questions to evaluate your firm’s culture. Environment: How have you created an environment that helps structure the values of the company? Are they open and friendly?

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What are the GAAP accounting rules? Therefore, it is critical that organizations use standardize d accounting practices when reporting financial information to ensure the information is transparent, consistent, and comparable. Enter Generally Accepted Accounting Principles, more commonly known as GAAP. securities law.

Non-Profits 52

Non-Profits accounting standards Maine accounting and finance 52

ThomsonReuters

DECEMBER 6, 2023

ERC background and issues The ERC provided eligible employers with a refundable credit allowed against certain employment taxes during most of 2020 and 2021, which was accounted for using Form 941 , Employer’s Quarterly Federal Tax Return. “Tax preparation is kind of the Wild West,” Creech began.

tax preparation 105

tax preparation Tax tax return payroll 105

Accounting Insight

APRIL 5, 2023

Net-zero means that a business has reduced the greenhouse gas emissions from its operations and value chain by 90%. Businesses increasingly want to be part of the solution and take climate action, with net-zero representing the ultimate goal. It’s become a beacon of hope for mitigating the worst impacts of climate change.

Start-ups 59

Start-ups Legal Account accountant 59

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. Read about what income tax filing method to choose, where to get the latest tax information, how to keep up with deadlines, and more.

income tax 52

income tax tax return Tax E-commerce 52

ThomsonReuters

DECEMBER 20, 2022

In the past few years, indirect tax specialists have had to deal with the Covid pandemic, Brexit, an ever-changing landscape of rules and regulations, budget tussles, hiring difficulties, and numerous other challenges. What challenges come with changes? Our roles are also changing constantly, and we need to keep up.

Tax 59

Tax Technology Maine Account 59

Xero

MARCH 6, 2023

Over a decade ago, Dinesh Aggarwal had the vision to create a multi-service advisory practice; a one stop solution for small businesses to build a pathway to success. Over a decade ago, Dinesh Aggarwal had the vision to create a multi-service advisory practice; a one stop solution for small businesses to build a pathway to success.

accounting firms 72

accounting firms Start-ups Account accountant 72

CTP

AUGUST 17, 2023

As we mentioned in our last blog, small business owners can see major benefits from the Employee Retention Credit with a little expert guidance. Test #1: Significant Decline in Gross Receipts This test simply requires an accurate account of a company’s yearly income. Remember that gross receipts include all of a company’s sales.

Government 52

Government Tax Start-ups Education 52

ThomsonReuters

MAY 6, 2022

But, any mid-year regulatory changes will not be included in the exam. Department of Labor regulations, record retention, federal payroll tax forms, payroll systems, and accounting. ” He notes that, “[the CPP] is becoming a necessity for moving up in the corporate structure.” CPP for professional growth.

payroll 95

payroll income tax Agriculture payroll tax 95

ThomsonReuters

JANUARY 28, 2021

In 2020, we saw a flurry of COVID-19-related activity at the SEC designed to help companies navigate the business impact of the pandemic. This blog post highlights certain changes in SEC reporting and disclosure across several key topics, along with practical takeaways. 1) China-based issuer disclosure considerations.

audit 72

audit Legal auditor Government 72

ThomsonReuters

JANUARY 12, 2023

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. Governance risks include financial reporting, fraud prevention, executive pay transparency, and overall business dealings of the company. . What is ESG? What is an ESG audit?

audit 52

audit auditor Technology Government 52

ThomsonReuters

SEPTEMBER 2, 2021

Other types of provisions a business typically accounts for include bad debts, depreciation, product warranties, pensions, and sales allowances. Tax provisions are considered current tax liabilities for the purpose of accounting because they are amounts earmarked for taxes to be paid in the current year.

income tax 52

income tax Tax corporation tax accounting and finance 52

Reckon

MARCH 26, 2023

We recently sat down with Reckon’s general manager of marketing, Brad Stevens, to chat about creating a marketing plan, core considerations, the hierarchy of marketing activity and what small businesses should be thinking about. The purpose of a marketing plan at the end of the day is to support the goals of the company or business.

B2C 52

B2C B2B Start-ups Sales 52

ThomsonReuters

DECEMBER 14, 2022

How to integrate with other technologies. If the tax engine’s structure and logic are a good fit for the new ERP, the integration itself should go relatively smoothly. Fortunately, most of these challenges can be overcome with sufficient planning and some awareness of what to expect. Choice of software is imperative, however.

Tax 59

Tax Technology accounting and finance accounts payable 59

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. That is slightly changing, but ‘changing to what’ is the big question.”

Technology 52

Technology accounting and finance Tax Finance 52