ThomsonReuters

MAY 6, 2022

For small and mid-sized tax and accounting firms, there are plenty of ways to do so. 8 ways small and mid-sized accounting firms can increase profitability. Word-of-mouth referrals are a powerful thing for any business, but even more so in tax and accounting. Cross-sell tax and accounting services to existing customers.

Tax 87

Tax Account accountant accounted 87

ThomsonReuters

FEBRUARY 6, 2024

Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. They are often already embedded in the prices of goods and services. Jump to: What is indirect tax? What is indirect tax?

Tax 52

Tax income tax Manufacturing corporation tax 52

Withum

MAY 26, 2022

There are many things that affect the value of stocks — too many to sensibly grasp and use to determine what stocks to buy, so I suggest simplifying your decisions by investing through mutual funds. Now, let’s consider what drives stock values. I consider earnings the primary driver of stock values. Earnings do.

Tax 105

Tax income tax Government tax return 105

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. That’s why many accountants are embracing the profitable shift to tax advisory services. That’s why many accountants are embracing the profitable shift to tax advisory services.

Tax 98

Tax tax return income tax audit 98

Mark Lee

NOVEMBER 14, 2023

This week I have decided to highlight some analogies and related business development lessons for accountants, inspired by the show. Just like species evolve to survive, accounting firms must, over time, adapt their strategies for success. Struggling mens’ shoes manufacturer, Price and Sons, is about to close.

Account 93

Account accountant accounted Manufacturing 93

ThomsonReuters

MARCH 13, 2023

More recently, in April 2022, New Mountain Capital announced a majority investment in professional services firms Citrin Cooperman.  These investments marked a notable transformation in the profession, with the realization among private equity firms that investing in large accounting firms can yield great returns.

Technology 59

Technology accounting firms Tax audit 59

ThomsonReuters

JULY 6, 2023

In today’s ultra-competitive business landscape, being an accountant means far more than preparing tax returns or compiling financial statements. But what does accounting advisory mean and how can your firm take advantage of this unique opportunity to showcase your knowledge and build deeper relationships with your clients?

Account 88

Account accountant accounted tax return 88

PASBA

SEPTEMBER 25, 2019

The competition for accounting clients can be as intense as in any other industry. Talk to your clients and others in the industry to find out what they really expect of their accountant and what would make them most likely to leave for a competitor or stay with your firm indefinitely. The answers might surprise you.

Account 104

Account accountant accounted accounting firms 104

Xero

JANUARY 30, 2024

Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment. Know property investment accounting regulations and taxes To swim well, you need to know the strokes, and how to navigate the water. Your primary residence is usually exempt.

Account 93

Account accountant accounted accounting and finance 93

Ryan Lazanis

SEPTEMBER 19, 2023

In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. If you just talk about yourself, your values, etc., Let’s go! you are not advancing the sale.

Account 98

Account accountant accounted bookkeeping 98

ThomsonReuters

JULY 6, 2023

Are you an accountant looking to break into the exciting world of mergers and acquisitions (M&A) advisory services? M&A advisors also specialize in structuring deals to maximize value while minimizing risk. Why should accountants get into M&A advisory?

Legal 52

Legal Tax Start-ups Construction 52

Mark Lee

FEBRUARY 6, 2024

One thing that remains as challenging for accountants today as it was when I was in practice is that of converting prospects into valued clients. In this blog post you’ll learn what it takes. Stop trying to sell Accountants don’t like to feel as they need to be salespeople. double glazing and life assurance.

Non-Profits 98

Non-Profits Account accountant accounted 98

Basis 365

AUGUST 29, 2023

This blog will help business owners choose the best-outsourced bookkeeping service by highlighting important factors like industry experience, service offering, reputation, integration of technology, and testimonials from clients. A provider who values communication and is easily accessible will facilitate a seamless collaboration.

bookkeeping services 52

bookkeeping services bookkeeping Technology payroll 52

ThomsonReuters

AUGUST 1, 2022

The public perception of accountants is typically described as compliance processors or number crunchers—people who balance books and prepare tax returns. Unfortunately, this limited view clouds the true value of accounting professionals and can lead to some people choosing do-it-yourself tax software.

tax return 97

tax return Tax Account accountant 97

ThomsonReuters

AUGUST 25, 2023

Unlike how other expenses are recorded, this method deducts a portion of the cost of a fixed asset over a number of years due to declines in the fair value of that asset. Book depreciation, which is also known as accounting depreciation, is the amount recorded in a business’s financial statement for a fixed asset (i.e.,

Tax 52

Tax tax return accounting principles Account 52

ThomsonReuters

JULY 11, 2023

Accounting professionals have long been trusted advisors for their clients. That relationship was shifted into higher gear by the onset of the COVID-19 pandemic as many companies turned to their tax and accounting professionals to help keep their businesses afloat. Is your firm among them? Building a sense of community is invaluable.

tax preparation 75

tax preparation tax planning Tax CPA 75

Xero

JANUARY 14, 2024

We could see smaller, more efficient versions of generative AI tools deployed at a lower cost to a wider use base. In 2024, market consolidation will play into the pricing of AI tools as these big companies start to explore how they can recover the costs and monetise the technology.

Technology 84

Technology Manufacturing Start-ups Account 84

ThomsonReuters

MARCH 17, 2022

Cryptocurrency investments are highly speculative and subject to extreme price volatility, which may be especially harmful for participants approaching retirement or those who allocate substantial portions of their accounts to cryptocurrency. Contributing Editors: EBIA Staff.

Tax 98

Tax Account accountant accounted 98

ThomsonReuters

AUGUST 25, 2023

You can calculate the depreciation by deducting the value of the land and dividing the remainder by 27.5 Let’s assume the value of the land is $100,000. In this case, the calculation would be: $400,000 (purchase price) – $100,000 (land value) = $300,000 (building value) $300,000 (building value) / 27.5

Tax 52

Tax Account accountant accounted 52

Xero

JULY 21, 2022

This secure online portal allows clients to easily view, download, electronically sign and return documents to their accountant or bookkeeper — all in one secure, accessible place. This fantastic new feature will be available to all our UK accounting and bookkeeping partners in October this year.

bookkeeping 75

bookkeeping tax return Tax financial statements 75

ThomsonReuters

SEPTEMBER 25, 2023

The report is based on a survey of 1,200 professionals from North and South America and the UK. Some tax professionals within firms worry that they will not be able to achieve the price reductions that clients hope AI’s efficiency savings will bring.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

APRIL 4, 2022

Whether you’ve read about it in industry publications, heard about it at trade conferences or discussed it with your peers, you know that more and more firms are shifting away from compliance-based practices in favor of higher-value advisory services. You see the value in investing in the solution, but will your boss?

tax preparation 97

tax preparation Tax accounting and finance Education 97

ThomsonReuters

JULY 2, 2021

How to shift your mindset from accountant to business owner. You’ve made the leap from staff accountant to small firm owner. By eliminating billable hours and moving to value pricing, you can strengthen the dynamic of the client relationship and lay out a clear scope of engagement. You did it. Build a firm foundation.

Account 52

Account accountant accounted tax return 52

PYMNTS

JANUARY 22, 2021

While 2021 has kicked off with a bang in the venture capital arena — with several high-value investments on the books — this week's B2B VC roundup is all about the seed rounds. Young B2B FinTechs secured some of their first investments in areas that include small business accounting, alternative lending and financial management.

B2B 81

B2B Expense Reimbursements Technology Expense Management 81

Mark Lee

OCTOBER 24, 2023

Conversations with the accountants who are or have been my clients reveal a wide range of such rates. We have all heard the arguments, I am sure, for charging ‘value based’ fees or ‘fixed’ fees – and I am a big supporter of such approaches – in the right circumstances.

Tax 94

Tax tax return Account accountant 94

Xero

JUNE 15, 2022

EzzyBills was co-founded by Michael and Li Fitzmaurice in 2014 in Australia, after Michael had been creating tools supporting older, legacy accounting software to keep inventory and sales information up-to-date. The post App partner of the month: EzzyBills appeared first on Xero Blog. Great customer support. Complete game changer.

general ledger 96

general ledger Technology accounting software accounts payable 96

ThomsonReuters

DECEMBER 20, 2021

For small accounting firm owners, feeling as though your business is in a rut is a uniquely personal and challenging experience. Here, we take a look at three common challenges small accounting firms owners experience and offer tips to get your business back on track. . No matter the size, all businesses have their ups and downs.

accounting firms 52

accounting firms Account accountant accounted 52

ThomsonReuters

DECEMBER 19, 2023

Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. From staying informed on ESG trends and regulations to identifying green tax breaks, more and more businesses are turning to accountants for ESG reporting and compliance. Enhanced reputation and brand value. In the U.S.,

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

FEBRUARY 24, 2023

Koltin, CEO of Koltin Consulting Group, explained, private equity firms perceive accounting firms as being low risk, high reward. Furthermore, accounting professionals are highly trusted advisors. “They believe the accounting profession is going through a major transformation. The same concept applies to firms looking to sell.

accounting firms 59

accounting firms Account accountant accounted 59

ThomsonReuters

JULY 10, 2023

It is typically a percentage of the purchase price and is added to the final cost of the product or service. Sales tax refers to when it’s added to the sales price of a good or service and is then charged by the retailer to the end consumer. This is known as an ad valorem tax, which is a tax based on the price of the item sold.

Sales 98

Sales Tax Michigan Washington 98

Xero

MAY 30, 2022

Cloud-based apps and tools, like those in the Xero App Store or wider Xero Ecosystem, have given small businesses the ability to use a combination of apps to build their own bespoke business engine. Datamolino streamlines and automates the accounts payable process. Old paper-based systems create a real bottleneck for bookkeepers.

bookkeeping 108

bookkeeping Technology accounts payable accounting and finance 108

LyfeAccounting

MAY 25, 2021

The consumer price index is showing that inflation has jumped to 4.2% So quick math here… Basically, if you had $100 this month last year, well it’s worth about $96 today just based on that 4.2% Take a look at the actual consumer price index measurement of inflation over the last 16 months. Lock in prices now.

Tax 87

Tax Real Estate accounting and finance tax return 87

ThomsonReuters

OCTOBER 1, 2022

For today’s tax and accounting professionals, the name of the game is doing more with less. To find your accounting firm’s unique path to success, it’s important to understand your accounting journey: where you are and where you want to go. Are you struggling to stand out amongst competitors?

Account 59

Account accountant accounted Technology 59

ThomsonReuters

OCTOBER 5, 2023

Jump to: What is amortization in accounting? There is, however, no one-size-fits all approach when calculating the value of a company’s assets. Some assets will fall under amortization accounting. What is amortization in accounting? On the balance sheet, as a contra account, will be the accumulated amortization account.

Account 52

Account accountant accounted Expense Amortization 52

Basis 365

JULY 11, 2023

In this blog post, we’ll explore the key factors you need to consider when calculating revenue and provide some tips to help you ensure accuracy and maximize profitability. This can include various activities, such as consulting, legal or accounting services, marketing, and IT support.

Non-Profits 40

Non-Profits Technology bookkeeping Legal 40

ThomsonReuters

MARCH 22, 2022

Psychologist and author Rollo May observed, “Communication leads to community, that is, to understanding, intimacy, and mutual valuing.”. The connection between accountants and their clients is an important relationship in the business world. Why transparent client communication is important for tax and accounting firms.

Account 98

Account accountant accounted cpa firm 98

LyfeAccounting

JANUARY 11, 2021

?. How to value your business? Business valuation is the process of determining the economic value of your business today. There 4 methods of valuation I’ll be going over today: Book value. Market value. Now valuing your business is not a black and white exercise as you’ll see. Top 4 Ways to Value a Business.

Non-Profits 52

Non-Profits Sales accounting and finance small business accounting 52