Thu.Jun 09, 2022

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Streamline Your Entire Firm With This Essential 1st Step

Ryan Lazanis

Streamline your processes with this essential 1st step so you can focus on growing your firm and spend less time on the tedious work. Listen below. 0:58 – Technology is a great tool, but it’s not the first step to creating a firm that can scale and run smoothly. 1: 26 – What you offer your clients and how you standardize those offers is the first step to a scalable firm. 1:44 – The more ways in which you offer means you’re multiplying the number of processes required to service

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What's new in May for state sales and use taxes

TaxConnex

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Food for thought. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Kansas and Tennessee just became the latest states to green light such exemptions.

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The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business

Patriot Software

You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living? But, how often have you thought about the relationship between the cost of living and your business? If it’s crossed your mind before, then […] READ MORE.

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The Audit Profession’s Inability to Retain Talent Poses a Serious Threat to Audit Quality

Going Concern

Just about every e mployer in corporate America is singing the blues about talent shortages caused by the Great Reset and the Great Resignation. However, these effects are not being felt uniformly across all businesses. Those employers with a history of mismanaging their human capital , like the largest audit firms, are being hit the hardest. The public accounting business model has relied excessively on its ability to counter the effects of massive turnover with its ability to hire and train ma

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Can Our DCAP Reimburse a “Hold-the-Spot” Fee?

ThomsonReuters

QUESTION: One of our DCAP participants will soon take a ten-week maternity leave, following the birth of her second child. Her two-year-old child will be at home during this time instead of attending day care, but the provider will charge her half of the regular monthly fee to hold the child’s spot during the leave. Can our DCAP reimburse this fee?

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10 Rules of Business

Withum

Here are ten well-used and time-tested “rules” or principles of business. I abbreviated them and added some comments, and chose ones I like and think about and apply often. Each has expanded versions and come from books that should be read, but this list is a pretty good way to start thinking in a more focused way, enjoy! Comment: I dispensed with the quotation marks and paraphrased some, but none are original thoughts of mine except those from my Power Bites book.

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Jim Ferrare Named on Forbes Best-In-State Wealth Advisor List for Fifth Consecutive Year

Withum

Jim Ferrare , Managing Principal of Withum Wealth Management and Principal of Withum’s sub-investment advisor Pinnacle Associates, was named to this year’s 2022 Best-In-State Wealth Advisors list by Forbes for the fifth year in a row. A Chartered Financial Analyst® (CFA®) and CPA, Jim is an investment advisor who helps clients understand and manage investments as they enter new stages of life, such as a business transition, retirement planning, divorce, death of spouse and inheritance.

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IRS Form 941: Lookback Period and Deposit Schedules | Canopy

Canopy Accounting

IRS Form 941, Employer’s Quarterly Federal Tax Return , is used by an employer to report federal income tax withheld from employees (including withholding on sick pay and supplemental unemployment benefits) plus the employer’s and employees’ share of social security and Medicare tax. It must be filed each quarter. The amount of taxes reported during the lookback period determines which schedule an employer must use to deposit their tax liability and how often those deposits are made.

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Ethical Leadership: The Leadership Style CEOs Need to Practice

GrowthForceBlog

9 min read. Business leaders have several different leadership styles at their disposal that can be applied to the way they manage and run their company and employees.

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Is It time For a Financial Controller?

AccountingDepartment

It is time for your business to consider hiring a financial controller? To help you make that decision, this article explains the duties of a financial controller and the benefits of partnering with an outsourced accounting provider.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Deloitte Will Be the Next Big 4 Firm to Split Audit and Consulting Says WSJ, Deloitte Denies

Going Concern

The rumor mill got fired up a mere 14 days ago when the Wall Street Journal reported EY was considering splitting its audit and advisory arms (pesky regulators and conflicts of interest and whatnot). As interns and accounting students who aren’t even going to Meet the Firms yet blew up social media asking what this might mean for their transfer opportunities everyone else asked: which Big 4 firm will be next?

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How accounting can adopt a ‘work smarter’ mentality through workflow automation

Accounting Today

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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide. Read about what income tax filing method to choose, where to get the latest tax information, how to keep up with deadlines, and more.

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The BPM Solution

Intuitive Accountant

More companies are using business process management to help reduce and eliminate repetitive tasks, and increase efficiency and productivity. Here are 4 ways it can make a difference for you.

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Planning Your Restaurant's Path to Profitability

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.

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Synder Recognized In Capterra Value Report For Accounting Software

Snyder

Synder is proud to announce its mention in Capterra Value Report for Accounting Software that features and compares the top Accounting Software which have received high ratings from users in terms of Value for Money and Functionality and help businesses decide on purchasing the best Accounting software based on their needs. Synder is recognized as an outstanding product with a Value For Money ratings of 4.6 out of 5 and Functionality ratings of 4.7 out of 5.

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PwC Will Not Let Economic Chaos Foil Its Aggressive Hiring Plans

Going Concern

That’s per PwC US chair Tim Ryan who told Insider the firm has its all-seeing eye firmly focused on the market. For now though? Let’s get those warm bodies into chairs. Tim Ryan, the US chair of PricewaterhouseCoopers, said the firm’s hiring plans aren’t going through “any major shocks or changes right now” and that the accounting firm is moving ahead with plans to fill thousands of open positions in areas such as auditing and consulting. “Right now we h

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The importance of ongoing trainings and seminars for accounting staff

ThomsonReuters

Investing in people is the oft-repeated solution for the talent shortage experienced by professional services organizations. Even though automation has simplified the compliance process, the accounting business remains very much a relationship-based one. To keep clients coming back, a firm must demonstrate the ability to help its people stay current with industry and regulatory changes.

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E-Money (and PSD) firms – Safeguarding client funds

Menzies

Menzies LLP - A leading chartered accountancy firm. Background. On 25th June 2020 Wirecard (a German payment processor offering electronic payment transaction services) filed for insolvency after it was revealed that €1.9 billion was ‘missing’ The following day in the UK its subsidiary, Wirecard Card Solutions Ltd (WCS), was ordered by the FCA to freeze its regulated activities.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Agencies Issue Checklist for Surprise Billing IDR Process

ThomsonReuters

Federal Independent Dispute Resolution Process, Checklist of requirements for group health plans and group and individual health insurance issuers (June 3, 2022). Available at [link]. In response to questions and complaints, the IRS, DOL, and HHS have jointly issued a checklist of federal independent dispute resolution (IDR) and related requirements to help plan sponsors and insurers understand their obligations when processing claims for items and services that fall within the scope of the sur

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What are the Benefits of Working With an Outsourced Accounting Company?

Basis 365

Recent studies estimate that nearly 40% of all accounting tasks are outsourced (Dautovic, Fortunly). Do you currently outsource accounting functions? If not, now might be the right time to reevaluate your current procedures to be a part of the 24% of small businesses that outsource to improve efficiency. Cost-effectiveness, scalability, freedom, and ancillary support are all benefits your business can take advantage of by working with an outsourced accounting company.

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Innovation and integrity are key to accounting’s future

Accounting Today

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How to Build Trust With Clients & Staff Remotely

Accounting Web

Growth How to Build Trust With Clients & Staff Remotely.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Keys to driving through change: Managing change

Accounting Today

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Wise Business Integrates with QuickBooks Online

Intuitive Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp shows you the best way to operate internationally and pay—or get paid—in over 50 currencies.

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Jumps at the pump prompt IRS mileage rate increase 

Accounting Today

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Inventory & ERP Sponsors at Scaling New Heights 2022 (Part 1)

Intuitive Accountant

This is the first in a series looking at the Inventory/ERP Sponsors appearing at this year's 'Scaling New Heights' in Orlando.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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Global minimum tax advances in EU, faces midterms in U.S.

Accounting Today

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Influencers

RitaKeller

“If you struggle to find inspiration, you’re likely surrounded by the WRONG people.” – Brad Lea. Who influences you in your work life? Is there someone you talk to that causes you to think about possibilities? Who causes you to take action on some of your ideas? Who helps you implement ideas and initiatives? If you don’t have that someone you better find them.

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Tax Fraud Blotter: Reality bites

Accounting Today

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Top 5 Reasons Why Employers Want You Back In the Office

Going Concern

T he debate over employee work preferences continues to explode. Many employers actively ignor e employee preferences, particularly when employees favor full y remote work. In recent weeks, even more companies demand ed that employees return to offices , immediately, or else. Employee preferences aside, why do companies want everyone back in the office?

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.