ThomsonReuters

JULY 6, 2023

As accounting firms look to differentiate themselves from the competition, one trend is leading the way: business advisory. From advising on mergers and acquisitions to specializing in accounting and advisory in your clients’ specific industry, there are many ways to take advantage of this unique opportunity.

accounting firms 98

accounting firms Account accountant accounted 98

ThomsonReuters

JUNE 22, 2022

Most business owners have a traditional understanding of what an accountant does. She hired an accountant and eventually went back to work full-time and had two more kids. As a working mom of four with a successful business, she was initially content with the traditional accountant relationship. What’s happening?”.

bookkeeping 98

bookkeeping tax preparation tax return Start-ups 98

Withum

MAY 9, 2024

In two weeks, I will be teaching a graduate course on audit concepts and methods to accounting students at Fairleigh Dickinson University. However, my role is not just to teach the material but to excite them about accounting as a profession and auditing in particular and share my pride in the vital role auditors play in our ecosystem.

auditor 59

auditor audit financial statements forensic accounting 59

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.

financial statements 130

financial statements accounting and finance Sales Finance 130

Nancy McClelland, LLC

APRIL 7, 2023

Everyone who reads my blog or works with me knows I’m a vocal proponent of the cooperative structure as a sustainable and enriching alternative to classic shareholder business models. That’s why the work that the National Society of Accountants for Cooperatives is essential. You don’t want to miss this class.

Agriculture 98

Agriculture CPA Virginia Education 98

ThomsonReuters

APRIL 25, 2024

When it comes to navigating the tax landscape of 401(k) contributions and withdrawals, it’s important for accountants to stay informed and help clients make tax-efficient decisions during their retirement years. What are some 401(k) tax benefits? What is the 401(k) tax limit? Jump to: Is a 401(k) pre-tax? How is a 401(k) taxed?

Tax 52

Tax income tax tax preparation Account 52

ThomsonReuters

MAY 5, 2022

Each year, tax time is an opportunity to expand your accounting firm’s client base. This includes growth — more clients, more revenue — and bringing more value to the client relationship. These are clients who have become too much work for the amount of revenue they generate. How did your firm fare this year?

accounting firms 96

accounting firms Tax Real Estate Account 96

Snyder

MAY 27, 2022

When starting a business, all the paperwork and accounting may seem daunting. You have to analyze every step and decision you’ve made to plan where you want to be in the future and what you need to do right now. No matter how large or small your business is, managerial accounting will help you gain profit. Contents: 1.

managerial accounting 98

managerial accounting financial accounting Account accountant 98

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? 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. What is indirect tax? This is the most common type of indirect tax globally.

Tax 52

Tax income tax Manufacturing corporation tax 52

ThomsonReuters

NOVEMBER 15, 2023

What to know about Section 501 What is Form 990? How to file taxes for nonprofits What are the 501(c)(3) reporting requirements? Charity tax exemptions are granted based on the organization’s compliance with specific regulations and its designation under Section 501(c) of the Internal Revenue Code.

Tax 52

Tax Non-Profits tax return accounting and finance 52

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

Sales 98

Sales Tax Michigan Washington 98

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. What triggers the tax administration requirement?

Sales 119

Sales South Dakota Tax corporation tax 119

Snyder

OCTOBER 27, 2022

When you’re an e-commerce business owner, setting up your online store with Etsy sounds like a great option for creating an additional revenue stream, with over 96 million active buyers across the world purchasing goods on the platform. This blog will teach you how to receive payments on Etsy , both including and apart from PayPal.

E-commerce 98

E-commerce accounting and finance Tax Sales 98

Xero

OCTOBER 9, 2023

We are pleased to share the key findings from our study of the accounting and bookkeeping sector in Aotearoa New Zealand. The State of the industry report 2023 is the first of its kind in Aotearoa New Zealand and benchmarks the industry, highlighting key trends, challenges, and opportunities faced by accounting and bookkeeping professionals.

bookkeeping 68

bookkeeping Agriculture Hospitality Construction 68

Shay CPA

FEBRUARY 14, 2024

Or you might be feeling stressed because you don’t know what to expect. Now, per amendments to Section 174 of the Internal Revenue Code, you have to amortize the deduction over five years if you’re based in the U.S. Dial in Your Accounting System You don’t need to sink a ton of hours into your accounting.

Technology 52

Technology Tax CPA accounting principles 52

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. From an accountant’s perspective, the answer to this question varies depending on the source of the income and applicable tax laws. Convert to a Roth IRA.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

DECEMBER 1, 2023

Jump to: What is Form 4562? What is listed property for depreciation? What does a depreciation schedule look like? What is Form 4562? Form 4562 instructions Is Form 4562 required every year? Section 179 and expensing property Running a company is expensive. Let’s take a closer look at the form and its uses.

tax return 97

tax return Tax Transportation Non-Profits 97

ThomsonReuters

APRIL 18, 2023

For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? For business owners, payroll is complex and often their greatest expense. Misclassifying employees Businesses need to properly classify workers (i.e.,

payroll 107

payroll payroll tax Tax audit 107

Ronika Khanna CPA,CA

NOVEMBER 17, 2023

What is the Gig Economy? that generates revenues either via sales, ads or affiliate marketing. that generates revenues either via sales, ads or affiliate marketing. Accounting and Tax Considerations for Gig Workers As discussed, there is an administrative burden to being a self employed gig worker.

Tax 52

Tax E-commerce audit income tax 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. What are their challenges?

tax return 97

tax return Tax Account accountant 97

Ronika Khanna CPA,CA

FEBRUARY 10, 2023

In the beginning these tax obligations can seem mystifying and somewhat overwhelming, but once you understand what needs to be done, the enigma surrounding the process dissipates and it tends to become routine. See also 2023 tax deadlines pertaining to the 2022 taxation year Digital Download Available at Amazon What is a t2125?

tax return 52

tax return Tax accounting software business tax 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. Marketing for Accountants 101. 1 Get Blogging. #2

Account 98

Account accountant accounted accounting firms 98

CPA Practice

MAY 12, 2023

It may sound like a simple task, but to do it justice, you must take the past into account and identify future goals for a period of time, such as the one, three, and even five years. Examples include VIP events, email campaigns, phone calls, account reviews, and more. Retention activities are supporting efforts.

Sales 98

Sales Account accountant accounted 98

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? The reality is that there are various types of direct tax and understanding the differences is important in helping taxpayers stay in compliance and navigate the costs they may encounter. What is direct tax? What does this mean? This is the opposite of indirect tax. Think again.

Tax 52

Tax income tax payroll tax payroll 52

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. What is sales tax?

Sales 97

Sales Tax Arizona Georgia 97

Withum

FEBRUARY 9, 2022

This is the 1,005 th blog I posted in the last ten years, and today will start my eleventh year of these blogs. This is primarily a business blog and I post topics clients have expressed interest in, and I am gratified to be able to help them in this manner.

intermediate accounting 59

intermediate accounting tax consultant basic accounting Start-ups 59

CPA Practice

MARCH 23, 2023

As a high-growth firm or one reaching toward that distinction, you are likely to be focused on expanding your client base, increasing revenue, and driving business growth. Your ICP is a detailed description of the type of customer who is most likely to benefit from your product or service.

B2B 64

B2B accounting and finance Start-ups Account 64

ThomsonReuters

APRIL 6, 2023

Whether you’re an accounting student, a recent college grad, or a small business owner, you may have questions about what accounts payable is, how it works, and best practices. As an important indicator of the health of a business, accounts payable is a gauge of cash flow. Is accounts payable a revenue?

accounts payable 52

accounts payable Account accountant accounted 52

Nancy McClelland, LLC

APRIL 11, 2023

What does this mean? What does filing an “extension” do? • 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. Schedules K-1, corrected Forms 1099, etc.) SEP IRA). •

Tax 98

Tax tax return CPA Illinois 98

ThomsonReuters

JULY 10, 2023

Jump to: What is use tax? What is nexus? Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. What is use tax? How does use tax work?

Tax 98

Tax Massachusetts Washington South Dakota 98

ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? What is a C corporation? What is an S corporation? What is an LLC? Many entrepreneurs wonder what types of business ownerships are possible and how to determine which one is right for their business. Which is better: a C corp, S corp, or LLC?

income tax 75

income tax Tax Legal tax return 75

ThomsonReuters

MARCH 26, 2021

Together, we discuss career paths and the best advice for those looking to rise to individual success within the tax and accounting profession. Together, we discuss career paths and the best advice for those looking to rise to individual success within the tax and accounting profession. I do, and I can help them with that.

cpa firm 98

cpa firm CPA Non-Profits Start-ups 98

Nancy McClelland, LLC

APRIL 9, 2023

If you want to know how to make IRS estimated tax payments, see my recent blog post with step-by-step instructions. If you want to know how to make IRS estimated tax payments, see my recent blog post with step-by-step instructions. For the Illinois Department of Revenue (IDOR), go to the MyTax Illinois site.

Illinois 52

Illinois Tax tax preparation bookkeeping 52

ThomsonReuters

FEBRUARY 9, 2023

As accountants, there’s no way to avoid the hectic nature of tax season. If you’re like most accountants, staffing shortages have you wearing multiple hats, putting you at risk of burnout. Become a tax software expert Nearly all firms use some type of tax and accounting software, but not everyone is an expert in it.

Tax 59

Tax tax return Technology accounting software 59

ThomsonReuters

AUGUST 22, 2023

For one, there are brand new markets to help generate additional revenue streams and more business growth opportunities. The company’s expansion continued rapidly with a global reach to 65 countries by March 2018 and further expansion to more than 80 markets in 2021, including locations across Africa, Asia, and the Caribbean.

payroll 98

payroll Tax Entertainment California 98

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? . The result? uncovering new opportunities. . Take inventory of systems.

Technology 105

Technology Account accountant accounted 105

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. How is it delivered?

Sales 130

Sales Tax Wisconsin Missouri 130