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Three things we learnt about small business from the latest XSBI data

Xero

Sales growth is slowing in all five XSBI countries, but at different paces All five XSBI countries are dealing with persistent inflation and higher-than-normal interest rates. This is leaving households with stretched budgets and not as much capacity to spend in small businesses, once all the household bills have been paid.

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Achieving that sale getting harder for small businesses

Xero

Small business owners are well aware how hard it is for their customers right now, who are trying to stretch their budgets to cover the rising cost of household bills, transport, housing and debt repayments. Small businesses in these two countries were paid an average of 9.8 y/y and 7.6% y/y respectively. days late in March 2023.

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The Top Property Tax Compliance Challenges

CPA Practice

According to the survey findings, businesses spend an average of 90.4 Personal property tax management is even more burdensome, as companies average 132 hours per week on various compliance tasks. While these figures may seem unexpectedly high, they make sense considering the sheer volume of tax bills businesses manage.

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Why the U.S. is Going to Have to Raise Taxes

CPA Practice

government is borrowing a lot of money at high interest rates. taxman made out like a bandit as investors closed their positions at the top of the bull market in equities and paid their capital gains bills. average among countries in the Organisation for Economic Co-operation and Development (OECD). trillion —a number the U.S.

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Take Stock of Your Year: Four Key Performance Indicators for Law Firms to Set You up for Financial Success in 2024

Anders CPA

Heading into January is the time to sit down and refocus on next year’s firm goals, not running around trying to collect outstanding bills because you came up short. Improve Cash Collections Billing and collecting is no one’s favorite part of the job, but it’s key to every firm’s success. Bill and collect on a regular cadence.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Minimum wage With over 32 bills so far introduced on the topic, the minimum wage is a perennial favorite for state legislators. 13 states are looking to increase their current minimum wage rates. Minimum wage increases.

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IRS Announces Indexing Factor to Calculate No Surprises Act’s Qualifying Payment Amount for 2023

ThomsonReuters

As background, the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA, 2021), expanded patient protections to shield individuals from surprise bills for certain out-of-network emergency and non-emergency services, including certain air ambulance services (see our Checkpoint article ).

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