ThomsonReuters

MARCH 5, 2024

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. Additionally, if you are a non-resident alien or a foreign corporation receiving income from U.S. sources, you may also receive a Form 1042-S from the withholding agent.

tax return 52

tax return Tax Account accountant 52

SMBAccountant

JUNE 21, 2023

In this blog post, we will explore the differences between these two essential financial statements. Gains and Losses: This category accounts for non-operational activities, such as gains or losses from the sale of assets, investments, or foreign exchange. It includes common stock, retained earnings, and additional paid-in capital.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130

ThomsonReuters

FEBRUARY 28, 2024

Alicia Shaul ’s path to accounting was less than traditional. 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. As an undergrad, she majored in political science and pre-law. The result?

cpa firm 98

cpa firm CPA Non-Profits financial statements 98

ThomsonReuters

MARCH 4, 2024

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. The IRS considers returns that are resubmitted electronically during the applicable timeframe as timely-filed returns.

tax return 98

tax return Tax corporation tax Account 98

Lockstep

NOVEMBER 16, 2022

In today’s fast-paced, competitive business environment, it’s more important than ever to optimize your accounts receivable (AR) processes. One way to do this is by leveraging automated customer communications as part of your broader accounts receivable automation strategy.

Technology 88

Technology Account accountant accounted 88

Xero

SEPTEMBER 28, 2023

Each winner will receive NZ$20,000 in funding or a regional equivalent. The pool of regional winners (28 winners total) will then be evaluated by a global judging panel and 4 global winners (1 in each category) will be identified and receive an additional global prize of NZ$50,000 in funding. Apply now appeared first on Xero Blog.

Non-Profits 85

Non-Profits bookkeeping Transportation Start-ups 85

CPA Practice

APRIL 3, 2024

Accounting software company Botkeeper has released its Botkeeper Infinite solution, which helps to streamline automated bookkeeping and back-office accounting for firms of all sizes without the need for outsourcing. Botkeeper heralds Infinite as a “complete solution” for firms’ bookkeeping needs.

Technology 64

Technology general ledger bookkeeping accounting software 64

ThomsonReuters

MARCH 8, 2024

As busy accountants, it’s easy to get stuck in survival mode. How can you build your service offerings to better serve your clients and grow your CPA firm through accountability? Accounting firms face an array of challenges, such as new technologies, increased client demands, legislative changes, and staffing constraints.

cpa firm 96

cpa firm CPA Technology Tax 96

ThomsonReuters

MAY 18, 2023

The agreement provided that the employee would “receive a COBRA…Election Notice.at [her] home address within the next 14 Business Days” that would include “information regarding COBRA coverage and alternative options.” Thus, the court denied the employer’s motion to dismiss, allowing the COBRA claim to proceed to trial.

Tax 93

Tax Account accountant accounted 93

ThomsonReuters

FEBRUARY 8, 2024

Jump to: Unlocking the power of advisory tools Deliver advisory engagements with Checkpoint Edge Advisory Maps Grow your firm with Practice Forward Advisory tools have emerged as transformative forces in the tax and accounting profession, empowering firms of all sizes to deliver efficient and effective services to their clients.

Tax 52

Tax Account accountant accounted 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 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

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. This tax applies to the amount received that you must include in income. Jump to: Is a 401(k) pre-tax? How is a 401(k) taxed?

Tax 52

Tax income tax tax preparation Account 52

Xero

MARCH 13, 2024

Get on top of your outstanding payments & invoices Got any outstanding bills to pay, or money to receive? Save time on sending invoices and reminders in the new year by using an accounting software that does it for you. You can do this online, with accounting software or through your myIR account with Inland Revenue.

tax return 83

tax return bookkeeping accounting software payroll 83

ThomsonReuters

JANUARY 29, 2024

Today’s accounting firm leaders are constantly grappling with two pivotal challenges: attracting top-tier talent and holding on to the people they have. By integrating advanced software solutions, firms can streamline their operations and send a clear message: they are prepared to evolve and adapt to the future of accounting.

Technology 52

Technology accounting degree tax preparation cpa firm 52

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. The post Our new AI-powered contact predictions have arrived appeared first on Xero Blog.

Transportation 107

Transportation Account accountant accounted 107

CPA Practice

MARCH 21, 2024

Over the course of the past year the company has expanded to support Etsy, Poshmark, Mercari and Amazon sellers in addition to eBay with its automated bookkeeping and accounting solution. Feature updates are announced frequently on the Seller Ledger Blog. The feature was widely requested at Outright.com but never built, until now.”

bookkeeping 52

bookkeeping Account accountant accounted 52

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

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. Webinar How to utilize generative AI to excel your tax and accounting services Learn how GenAI can help you create new insights, solutions, and opportunities for yourself and your clients.

Tax 110

Tax tax return Technology income tax 110

Xero

OCTOBER 4, 2022

For the fourth year in a row, I am stoked to announce that Xero is the winner of Canstar’s Most Satisfied Customer Award for small business accounting software. Canstar’s annual survey engages hundreds of small business owners across New Zealand to provide a benchmark of quality for accounting software.

accounting software 86

accounting software small business accounting software Account accountant 86

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. If your business situation has changed, and you’re eligible to change your filing frequency, you can do this through your myIR account. What is the filing frequency for my business?

bookkeeping 90

bookkeeping Sales accounting software Legal 90

LSLCPAs

NOVEMBER 21, 2022

In another blog post, we urged you to delay payments as long as reasonable to enhance your cash flow. On the flip side, you want to collect your receivables as quickly as possible! The post Collect Quickly to Increase CASH FLOW: Cash Flow and Accounts Receivable Relationship appeared first on LSL CPAs.

cpas 52

cpas Account accountant accounted 52

Basis 365

JULY 25, 2023

So, let's explore the top accounting KPIs vital for a marketing company's financial management. It includes all costs associated with receiving leads, such as marketing expenses, sales team salaries, and advertising costs. Accounts Receivable (AR) Aging: AR aging is an essential KPI for tracking the collection of payments from clients.

Account 97

Account accountant accounted accounting system 97

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

JULY 25, 2023

As outlined by the IRS in the Publication 15, (Circular E), Employer’s Tax Guide , if your employee repays you for wages they received in error, do not offset the repayments against current year wages unless the repayments are for amounts received in error in the current year. ABC will issue the net transaction on Mike’s W-2.

Tax 98

Tax income tax tax return payroll 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. They record transactions, reconcile accounts, and generate financial statements. They record transactions, reconcile accounts, and generate financial statements.

bookkeeping 90

bookkeeping accounts payable basic accounting accounting and finance 90

ThomsonReuters

JUNE 9, 2022

Those that receive a pre-examination letter should be prepared to undertake an internal review promptly, because 90 days can go by quickly. If no response is received within 90 days, the IRS will schedule an examination of the plan. Contributing Editors: EBIA Staff.

Tax 98

Tax Account accountant accounted 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. Enter AR Automation.

Account 75

Account accountant accounted Technology 75

Xero

AUGUST 29, 2023

This guest blog post was written by the team at financial management app, Expensify. eReceipts are digital versions of receipts that are automatically created and stored in Expensify based on the data received from the credit card provider. If they were using eReceipts, this wouldn’t be an issue in the first place.

Approval Workflows 84

Approval Workflows general ledger audit Expense Management 84

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. Keep in mind that other requirements (e.g.,

Tax 105

Tax Account accountant accounted 105

ThomsonReuters

NOVEMBER 15, 2023

For accountants, navigating the complexities of Form 8283 and the tax implications of non-cash charitable contributions is essential in providing solid financial guidance to clients and optimizing their tax benefits. Accountants should ensure compliance with IRS regulations to maximize the tax benefit for their clients.

tax return 98

tax return Tax tax planning Real Estate 98

Lockstep

JANUARY 4, 2023

If you manage accounts receivable (AR) and accounts payable (AP) for your business, you know how important it is to have a system in place to keep track of all incoming and outgoing payments. A shared accounting inbox can be a great way to do this, as it allows both AR and AP managers to see all payments in one place.

Account 92

Account accountant accounted accounts payable 92

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. Regardless of how our application was received, it made all of the team proud just taking a step back and reflecting.”

Account 118

Account accountant accounted accounting and finance 118

PYMNTS

AUGUST 3, 2020

“Migrant workers are among the hardest hit groups, with many facing scant job security and limited access to social assistances,” ADB economists James Villafuerte and Aiko Kikkawa Takenaka wrote in a blog posted on the Philippines-based organization’s website. Remittances also help the receiving companies’ external financing.

accounting and finance 101

accounting and finance Government Finance Account 101

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

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