ThomsonReuters

FEBRUARY 26, 2024

There are many paths to accountancy, but this is one we don’t hear of often:  Erin Heath   grew up on a cattle ranch in South Dakota, where many of her “ranch-hand” duties sparked her interest in numbers. But it was an introduction to accounting class in high school that paved the way. “It It was love at first sight,” she recalls. “I

CPA 98

CPA South Dakota Nebraska Tax 98

ThomsonReuters

MARCH 4, 2024

What is the e-file rejection grace period for federal tax returns? Any taxpayer who received a rejected e-filed tax return has a rejection grace period of 5 calendar days after the official filing deadline (usually April 15) to retransmit the return or extension. What is the e-file grace period for state returns?

tax return 98

tax return Tax corporation tax Account 98

ThomsonReuters

MARCH 5, 2024

Jump to: What is Form 1042-S? What information does Form 1042-S contain? In this blog, we will explore the intricacies of Form 1042-S, exploring its purpose, who is required to file it, and the crucial information it contains. What is Form 1042-S? sources, you may also receive a Form 1042-S from the withholding agent.

tax return 52

tax return Tax Account accountant 52

Xero

MARCH 11, 2024

Over a year ago, we launched an early version of Xero Go to see how a purpose built app could help cater for the entry-level accounting needs of the self-employed in the UK. By putting those resources into our core Xero accounting platform, payroll and our mobile app, it will allow us to better meet our customers’ needs over the long term.

bookkeeping 67

bookkeeping payroll Start-ups Event Production 67

ThomsonReuters

FEBRUARY 9, 2024

In this blog, we will dive into the details of four notable tax laws that have been introduced into legislation and deserve our attention. What does this mean for my firm? What does this mean for my firm? However, amidst this spotlight, there are other tax proposals quietly gaining momentum.

Tax 110

Tax tax return Technology income tax 110

ThomsonReuters

NOVEMBER 28, 2023

Jump to: Reflect on your current tax workflow Use automation to boost staff engagement and retention Unlock growth opportunities With staffing shortages of epic proportions, the accounting industry is facing a crossroads. What are your methods for client communications? How are you preparing and reviewing the tax return?

Technology 112

Technology Account accountant accounted 112

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. You’ll realise what you’ve done and said that has helped some prospects to become clients.

Non-Profits 98

Non-Profits Account accountant accounted 98

ThomsonReuters

FEBRUARY 28, 2024

Alicia Shaul ’s path to accounting was less than traditional. No matter what the culture of the firm is, you will be successful, the professor said. A culture of happiness and growth In the six years after she became a CPA, Shaul worked at several accounting firms and experienced some less-than-ideal managers. ‘Yes,

cpa firm 98

cpa firm CPA Non-Profits financial statements 98

Basis 365

JUNE 29, 2023

In this blog, we'll explore the differences between a bookkeeper and a controller and help you determine which role(s) you need for your business. What is a Bookkeeper? They record transactions, reconcile accounts, and generate financial statements. What is a Controller? Bookkeeper vs. Controller: What's the Difference?

bookkeeping 90

bookkeeping accounts payable basic accounting accounting and finance 90

ThomsonReuters

DECEMBER 11, 2023

Jump to: What is the proportional amortization method? What are LIHTC investments? What conditions must be met to apply the proportional amortization method? What is the proportional amortization method? For public business entities, the amendments are effective for fiscal years beginning after Dec.

income tax 52

income tax accounting standards Non-Profits accounting and finance 52

Xero

JUNE 21, 2023

You win, or you learn – that’s one of Tennick Accountants’ internal mottos, and one that encouraged the firm to put themselves in the running and enter the 2023 Xero Awards UK & Ireland. What we have done over the last 12 months, which ties back so much to the values of Xero, has been incredible.

Account 118

Account accountant accounted accounting and finance 118

AdviceForTaxpreparers

JULY 29, 2019

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. Accounting Jokes, Videos, Puns and Humor. If you are going to be an accountant then you have to be able to laugh at yourself. Accounting and CPA Puns. Short Accounting and CPA Jokes. Famous Accounting Quotes. Miscellaneous.

tax preparation 212

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ThomsonReuters

NOVEMBER 15, 2023

Jump to: What is Form 8283? Boat donation tax deduction What is the cost basis for non-cash charitable contributions? Tax deduction for donation of clothing What are the rules for non-cash donations? What is Form 8283? What is the cost basis for non-cash charitable contributions? Form 8283 is used to ensure U.S.

tax return 98

tax return Tax tax planning Real Estate 98

ThomsonReuters

JULY 21, 2022

If we switched to an HDHP/HSA, could our employees receive tax-free reimbursements for the same types of expenses from their HSAs? However, HSAs can only provide tax-free payment or reimbursement of the expenses of an HSA account holder’s child if the child qualifies as a dependent. Those differences are highlighted below.

Tax 105

Tax Account accountant accounted 105

Xero

JANUARY 24, 2024

These due dates will depend on when you first registered your business for GST, and the accounting basis and ‘filing frequency’ you chose at the time. What is the filing frequency for my business? If your business situation has changed, and you’re eligible to change your filing frequency, you can do this through your myIR account.

bookkeeping 90

bookkeeping Sales accounting software Legal 90

Accounting Seed

FEBRUARY 3, 2023

Here’s how to take control What was once a gentle push and recommendation to take your accounting to the cloud has become a mandate. Many of the big-name accounting software providers such as QuickBooks are officially ending support for desktop solutions. Do you need multiple apps to make your accounting system work as desired?

accounting software 98

accounting software Account accountant accounted 98

Xero

NOVEMBER 13, 2023

While it’s still early days in the UK, we expect that eInvoicing will eventually become a global best practice standard and a natural part of the cloud accounting process. Today, we’re excited to share that we are the first major small business accounting software company to launch eInvoicing in the UK. What is eInvoicing?

small business accounting software 52

small business accounting software accounting software accounting system bookkeeping 52

ThomsonReuters

AUGUST 25, 2023

Jump to: What is software depreciation? What is software depreciation? Take this example: Your business client purchased software in December 2022 to process payroll, accounts payable, and accounts receivable, but they didn’t put that software into service until January 2023. Can software be amortized?

Tax 97

Tax Technology Manufacturing payroll 97

ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Evaluate the potential benefits of converting traditional retirement accounts to Roth IRAs. Guide your clients on when to start receiving Social Security benefits.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

JULY 25, 2023

Jump to: What is an overpayment on taxes? Overpayments and repayments in the current year Overpayments and repayments in subsequent years Preventing tax overpayments What is an overpayment on taxes? In simple terms, an overpayment on taxes is paying more than what is owed.

Tax 98

Tax income tax tax return payroll 98

Xero

OCTOBER 3, 2023

How to recognise new contact predictions in Xero You’re probably already familiar with our existing bank reconciliation predictions, where we display existing contact and account codes in italics. This new feature is another step on this journey, and we can’t wait to hear what you think.

Transportation 107

Transportation Account accountant accounted 107

ThomsonReuters

MARCH 31, 2022

What will happen to the funds in an HSA after an account holder dies? ANSWER: Upon the death of an HSA account holder, any amounts remaining in the HSA transfer to the beneficiary named in the HSA beneficiary designation form. (If The post What Happens to the Funds in an HSA After the Account Holder Dies?

Account 102

Account accountant accounted income tax 102

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What are the GAAP accounting rules? What are the main principles of the GAAP framework? What are the key differences between GAAP and IFRS? What are the GAAP rules for capitalization of costs? What are the main consolidation models under GAAP? So, what are the GAAP accounting rules?

Non-Profits 52

Non-Profits accounting standards Maine accounting and finance 52

Ryan Lazanis

MAY 17, 2022

If you’re looking for the best marketing for accountants’ strategies, you’ve come to the right place. Most of these methods I’ve personally used myself to help take my cloud accounting firm from scratch to sale in just 5 years. Marketing for Accountants 101. 1 Get Blogging. #2 4 Viral Marketing for Accountants. #5

Account 98

Account accountant accounted accounting firms 98

ThomsonReuters

JULY 25, 2023

For today’s accounting firms, advanced technology is no longer an option but a necessity. The most successful accounting firms are making the investment today to optimize growth tomorrow. Let’s take a look at how AI is transforming the way accountants work and why it will help shape the future of the profession.

Technology 98

Technology Tax audit accounting firms 98

Xero

AUGUST 29, 2023

This guest blog post was written by the team at financial management app, Expensify. What your employees are expected to do with that receipt kicks off almost everything that follows in your expense management process. Finding the right balance between automation and compliance in any business process can be challenging.

Approval Workflows 84

Approval Workflows general ledger audit Expense Management 84

CPA Practice

APRIL 24, 2023

Register Today Receive 1 hour of free CPE credit for participating in this live webcast. Field of Study: Accounting Receive 1 hour of free CPE credit for participating in this live webcast. A veteran of accounting journalism, she also speaks at many accounting events, trade shows, and webinars.

Technology 80

Technology AP Processes Indiana CPA 80

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.

Account 93

Account accountant accounted financial statements 93

Snyder

OCTOBER 27, 2022

This blog will teach you how to receive payments on Etsy , both including and apart from PayPal. This blog is a part of a series dedicated to the most popular e-commerce marketplaces’ payment solutions. What is Integrated PayPal? What is Standalone PayPal? What are Etsy Payments and how do they work?

E-commerce 98

E-commerce accounting and finance Tax Sales 98

Lockstep

JUNE 1, 2022

As the Federal Reserve tightens interest rates at the highest level in over 20 years, it’s a good time to review your manual accounts receivable (AR) processes to seek out your unresolved cash traps. One of the most common reasons teams receive for non-payment is that an invoice wasn’t received. Who’s Doing What?

Account 75

Account accountant accounted Technology 75

Snyder

JULY 13, 2022

What does this transfer to managed payments mean for their sales rates and business flow? What are the advantages and disadvantages of payments managed by eBay? What is the eBay Managed Payments system? How to set up Managed Payments account on eBay. What is the eBay Managed Payments system? Contents: 1.

E-commerce 98

E-commerce accounting and finance Sales quickbooks 98

Withum

SEPTEMBER 8, 2022

Tonight I will conduct my second Auditing class session of this semester at Fairleigh Dickinson University, and I will be teaching what the auditor’s opinion means and what auditors do to arrive at their opinion. That is what my students will be doing, each using a different company’s report.

accounting principles 119

accounting principles auditor audit financial statements 119

Nancy McClelland, LLC

MARCH 22, 2024

If a taxpayer claimed and received ERC funds, and for whatever reason now realizes that they may not actually have qualified (either for a particular period or for the whole thing) — they can return 80% of the money to the IRS and call it a day. Participating businesses do not need to repay all 100% of the payment they receive.”

Tax 52

Tax tax preparation CPA audit 52

Xero

DECEMBER 1, 2023

Here’s a guide outlining what the announcement means for your practice and clients. Note – your clients will still be able to use three-line accounts with the new MTD rules in place. For example, clients could work with one practice for day-to-day bookkeeping and accounting, and another for ITSA submissions.

Tax 88

Tax income tax bookkeeping accounting software 88

ThomsonReuters

OCTOBER 27, 2023

But, many accounting firms offering pro bono services fail to take a strategic and organized approach, opening themselves up to a host of potential challenges. Then, throughout the year, you can dip into the pool of what you have set aside in your budget for advisory services. This can create a host of other problems.

Account 59

Account accountant accounted accounting firms 59

ThomsonReuters

OCTOBER 12, 2023

For accountants, providing comprehensive and personalized tax advice to U.S. What is the tax exemption for U.S. What tax form does a U.S. Report foreign financial accounts. Paying taxes on money earned abroad Avoiding double taxation Helping clients who live abroad with their taxes U.S. expats pay taxes?

Tax 75

Tax tax return income tax tax preparation 75

Lockstep

DECEMBER 2, 2022

To today’s business environment, the need for streamlined and organized accounting procedures is paramount. Accounting teams need constant vigilance to keep a clean inbox, and to ensure accounts, communications, and next best activity is organized. What is a Shared Inbox? Why a Shared Inbox?

Account 85

Account accountant accounted accounts payable 85