Thu.Dec 08, 2022

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Managing Transactional Taxes as Your Business Grows Globally

TaxConnex

You may think that selling outside the U.S. spares you the complexities and headaches of sales tax thresholds. And you’d be right – except that in many countries you’d instead run into value-added tax (VAT) on transactions. VAT is applied at each stage of the supply chain and is recoverable by most businesses and, similar to American jurisdictions’ sales tax, rates are generally applied at a country level with exceptions on certain products.

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Is Your Business Closing? Here are your Final Tax Responsibilities

RogerRossmeisl

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If you’ve decided to close your business, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met.

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Yale Grad and Grant Thornton Lawyer Argues The Case For an Undergraduate Accounting Program at Yale

Going Concern

Alexandra Newman (Yale University, B.A. 2005 with Distinction in Philosophy; Northwestern University School of Law, J.D. 2010) has penned an article for Yale Daily News that argues — quite well — why Yale needs an accounting program. Any time the discussion of Ivies and accounting comes up, people who aren’t accounting graduates like to remind the discussers that accounting is a trade (like these Quora users who say Harvard doesn’t offer accounting for the same reason the

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How Savings Bonds are Taxed

RogerRossmeisl

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they reach final maturity, what action do you need to take to ensure there’s no loss of interest or unanticipated tax consequences? Interest deferral Series EE Bonds dated May 2005 and after earn a fixed rate of interest.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Talent attraction and succession planning seen as top risks in 2023

Accounting Today

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Sounds Like the EY Split is Going Forward Whether Partners Want It to Or Not

Going Concern

EY Global Managing Partner Andy Baldwin was on a Reuters Breakingviews podcast recently and in the interview — besides suggesting that other Big 4 firms will follow EY’s lead toward a split despite these other firms saying they have no plans to do that — he made it sound like the split is happening one way or another. Even if it doesn’t actually happen.

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ArtisTrade Live on Lockstep

Intuitive Accountant

Connected accounting pioneer provides unprecedented access to mid-market ERP systems.

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Intuit QuickBooks Unveils New Innovations that Support Accountants and Drive Business Success at QuickBooks Connect

SchoolofBookkeeping

We are very excited to be at QuickBooks Connect this year. It has been great reconnecting with our colleagues. This is the first in-person event in over three years due to Covid-19. This event is one that should not be missed each year. Learn about the new innovations for accounting professionals announced by Intuit this morning. Intuit QuickBooks Unveils New Innovations that Support Accountants and Drive Business Success at QuickBooks Connect.

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Why are central banks pursuing digital coins? Relevance

Accounting Today

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Making the Most of Fixed Asset Purchases – Expensing Options

Dent Moses

Let’s review some options to reduce taxable income through expensing of fixed asset purchases and, in some cases, improvements. To count as a 2022 purchase, the item(s) must be placed in service (used for its intended purpose) by December 31 st. Tangible Personal Property Regulations. In late 2013, the IRS issued final regulations providing rules on the treatment of expenditures for improving, maintaining or purchasing tangible property.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Thanks for joining us at the New Zealand Roadshow 2022

Xero

As the New Zealand Roadshow 2022 – Tiny Edition comes to a close, we reflect on an incredible six months on the road. . We visited 28 locations across Aotearoa, travelled over 7000 kms, hosted 112 events, and served over 800 coffees from our tiny home. . It’s been a whirlwind few months, and we’re feeling grateful for the opportunity to get together with so many of our partners and customers. .

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The Ins and Outs of Real Estate Income: Tax Planning for Short-Term Rentals

CTP

Using real estate as a source of income is only becoming more popular with the advent of sites like Airbnb and VRBO that enable homeowners to earn extra cash from property they already own. Taxpayers who are new to leveraging real estate for income may be unfamiliar with the tax loopholes available to them. As a tax professional, you may have to overcome your clients’ uncertainty in taking advantage of these loopholes.

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Intuit QuickBooks' Latest Innovations to Help Support and Drive Business Success

Intuitive Accountant

New offerings introduced Power Prosperity for accountants and high-growth product-based and mid-market businesses with expanding workforce needs.

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Thrive’s founder on how sustainability can help businesses achieve impact and profit

Xero

Small business owners and entrepreneurs can feel like they face immense pressure to not only drive profits, but take positive action for our planet as a whole. . While these aren’t mutually exclusive, owners with a huge amount on their plates face a real challenge in understanding how they can achieve both. . B-Corp certified accounting practice Thrive is on a mission to help tech start-up clients achieve this balance, ensuring they’re successful across people, planet and profit.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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The 2022 year in review for NFP accounting at AFG

Accounting for Good

The post The 2022 year in review for NFP accounting at AFG first appeared on ACCOUNTING FOR GOOD.

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Client Accounting Services: The Complete Guide

AccountingDepartment

When business owners are first starting out, they usually do not have the time or resources to keep track of their finances. This is where client accounting services come in. Client accounting services can help companies manage their finances, keep track of their spending, and plan for the future.

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Intuit rolls out new features for QBOA

Accounting Today

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Leave The Dated ERP Systems Behind and Grow With NetSuite

AccountingDepartment

It's not uncommon for newer small and medium-sized businesses to experience spikes in business in their first few years as their products or services catch on. With those spikes, business owners may quickly realize that the accounting systems in place are inadequate when it comes to handling higher workloads.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Tax Fraud Blotter: 'Fraud is ridiculous here'

Accounting Today

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ArtisTrade Live on Lockstep

Lockstep

Connected Accounting Pioneer Provides Unprecedented Access to Mid-Market ERP Systems. Seattle, WA – (December 8, 2022) – Lockstep , the connected accounting network, today announced that ArtisTrade , a finance software provider specializing in supply chain finance, is now live on Lockstep. Lockstep provides an API for developers to connect to and leverage the accounting and financial data of their customers to automate workflows between companies.

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What is Cloud Computing?

KROST

Cloud computing is the future of the accounting industry. Essentially cloud computing is the storing, managing, and processing data on the internet instead of storing information on local hard drives or servers. Information can be accessed from any device and is easily shared with management, team members and trusted advisers. Cloud computing simplifies the accounting Read the full article.

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AHA Releases 2019 Community Benefit Report Applicable to Tax-Exempt Hospitals

Withum

The American Hospital Association (“AHA”) released its annual report summarizing community benefits provided by tax-exempt hospitals, as reported on the Internal Revenue Service (“IRS”) Form 990, Schedule H. In its most recent report released in June 2022, AHA contracted with Candid (formerly Guidestar) to create a file of all electronically submitted Schedule H forms reported by tax-exempt hospitals in the 2019 tax year (“AHA 2019 Report”).

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Interested in Interest Rates? The IRS Has Something For You

Going Concern

The Fed isn ’t the only one raising interest rates these days. The IRS did too —and it has now for four consecutive quarters, including the first quarter of next year. Beginning on Jan. 1, 2023, the rate for overpayments and underpayments will be 7% per year, compounded daily, for individuals, up from 6% in Q4 of 2022. A list of the new interest rates are as follows: 7% for overpayments (payments made in excess of the amount owed), 6% for corporations. 4.5% for the portion of a corporate overpay

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On-Demand Webinar: Sales/Use Tax Opportunities and Traps Affecting Your Business On-Demand Webinar

Withum

Withum’s State and Local Sales Tax Team will discuss developments related to how the Wayfair decision has affected businesses and the related sales tax compliance requirements including collections, remittance, and software solutions. The team will also discuss opportunities such as common exemptions to identify potential refunds, potential audit triggers, and other sales tax trends.

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Hiring Challenges for Accounts Payable

MineralTree

Our recent 2022 State of AP report confirmed what finance leaders have known for quite some time: labor-intensive processing tasks are overwhelming AP departments without enough employees to help. Despite the pain, their workload continues to grow, with more companies processing greater payment volumes now than last year. It used to be that teams would solve this problem by adding more headcount, but in today’s economic and business climate that’s no longer a viable solution.

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Top 100 ProAdvisors: Meet Rachel Barnett

Intuitive Accountant

Our Insightful Accountant ‘2022 Top 100 ProAdvisor Award’ interview series continues with Gentle Frog's Rachel Barnett.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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Sikich to acquire Vonya Global

Accounting Today

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Paying Vendors 101: Everything You Need to Know to be a Pro

Patriot Software

As a business owner, there’s a pretty good chance you’ll need to work with a vendor at some point. After all, you need supplies, services, and more to operate your business. Hiring a vendor is one thing, but do you know how to pay a vendor? Welcome to your paying vendors 101 guide. What is […] READ MORE.

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Real Estate Tax Savings: Using a Property for Short-Term Rentals

CTP

Looking to invest in real estate? The many tax loopholes available can make this an attractive source of income—but first-time property owners may feel uncertain about taking advantage of these tax breaks. Rest assured that legitimate loopholes were intentionally created by the government to promote property ownership. By enticing taxpayers with tax benefits, more people are able and willing to make this sizable financial investment.

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IRS Confirms Removal of Non-Calendar-Year Plan Limitation from October 2022 Additional Election Change Guidance

ThomsonReuters

IRS Announcement 2022-22, 2022-47 I.R.B. 497. Available at [link]. We recently reported on IRS Notice 2022-41, under which cafeteria plans can be amended to allow prospective midyear group health plan election changes from family coverage to employee-only coverage (or family coverage including one or more already-covered related individuals) so that one or more family members can enroll in a qualified health plan through an Exchange (see our Checkpoint article ).

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.