RogerRossmeisl
DECEMBER 8, 2022
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.
TaxConnex
DECEMBER 8, 2022
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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RogerRossmeisl
DECEMBER 8, 2022
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.
ThomsonReuters
DECEMBER 8, 2022
QUESTION: Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA. What do these and other employee benefit acronyms stand for? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Cafeteria Plans, Consumer-Driven Health Care, ERISA Compliance, Self-Insured Health Plans, and Fringe Benefits manuals. (Next week’s Question of the Week will address acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the following w
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SchoolofBookkeeping
DECEMBER 8, 2022
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.
Dent Moses
DECEMBER 8, 2022
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.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Intuitive Accountant
DECEMBER 8, 2022
New offerings introduced Power Prosperity for accountants and high-growth product-based and mid-market businesses with expanding workforce needs.
Lockstep
DECEMBER 8, 2022
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.
AccountingDepartment
DECEMBER 8, 2022
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.
KROST
DECEMBER 8, 2022
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.
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
Xero
DECEMBER 8, 2022
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. .
Intuitive Accountant
DECEMBER 8, 2022
Connected accounting pioneer provides unprecedented access to mid-market ERP systems.
Accounting for Good
DECEMBER 8, 2022
The post The 2022 year in review for NFP accounting at AFG first appeared on ACCOUNTING FOR GOOD.
Xero
DECEMBER 8, 2022
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.
Speaker: Jamie Eagan
As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of
AccountingDepartment
DECEMBER 8, 2022
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.
Withum
DECEMBER 8, 2022
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.
Going Concern
DECEMBER 8, 2022
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
MineralTree
DECEMBER 8, 2022
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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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Patriot Software
DECEMBER 8, 2022
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.
ThomsonReuters
DECEMBER 8, 2022
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 ).
Anders CPA
DECEMBER 8, 2022
The end of the year is an opportunity to get your affairs in order for the year ahead, and when it comes to tax planning, the sooner you begin preparations the better. To optimize tax savings in the new year and to minimize tax burdens, take a moment at the end of the year to review these tips to ensure you’re making the most of the year-end tax planning season.
Accounting Today
DECEMBER 8, 2022
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Anders CPA
DECEMBER 8, 2022
Anders hosted a panel for the final installment of the Not-for-Profit in the Know webinar series of the year featuring discussions around the most pressing issues facing not-for-profits today. With a turbulent market making investments even more uncertain than before and a labor market that favors candidates over employers, there is a lot of uncertainty going into 2023.
Intuitive Accountant
DECEMBER 8, 2022
Our Insightful Accountant ‘2022 Top 100 ProAdvisor Award’ interview series continues with Gentle Frog's Rachel Barnett.
Going Concern
DECEMBER 8, 2022
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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Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.
Going Concern
DECEMBER 8, 2022
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.
Withum
DECEMBER 8, 2022
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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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.
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