Tue.Aug 29, 2023

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How to Calculate Burn Rate at Your Startup

BurklandAssociates

Tracking your monthly burn rate helps ensure you don’t run out of cash runway while investing in your startup’s growth. The post How to Calculate Burn Rate at Your Startup appeared first on Burkland.

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Navigating the Complexities of Sales Tax in the Ever-Changing Landscape of Online Selling (part 1)

TaxConnex

Online selling of products and services has always been in the vanguard of sales tax obligations. The situation has only gotten more complicated in the five years since the Supreme Court unleashed economic nexus with the Wayfair decision. Since, every state with a statewide sales tax (and countless localities, especially in places like California and Alaska ) has enacted economic nexus laws, meaning e-commerce vendors of products and, increasingly, services must collect and remit sales tax and f

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Trending Sources

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PCAOB sanctions firm over auditor independence

Accounting Today

These are the first sanctions ever against a firm over independence violations because it's a member of an alliance where another firm did work for the same client.

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Treasury, IRS Formally Propose New Rules for Claiming Clean Energy Tax Credits

CPA Practice

The Treasury Department and the IRS issued detailed—but more flexible—regulations on Tuesday regarding the new prevailing wage and registered apprenticeship requirements, which are linked to companies claiming clean energy tax credits under the Inflation Reduction Act. In addition, the IRS released frequently asked questions and Publication 5855 , which is an overview of the prevailing wage and apprenticeship requirements and the applicable credits.

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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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The 'revolving door' between accounting and the IRS

Accounting Today

Nearly 500 service employees worked at large firms or big companies either before, during or after they worked at the IRS, according to a new report.

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The Perils of Not Having Real-Time Data for Your Business

AccountingDepartment

For any business to thrive, it is essential to have accurate and up-to-date information about its operations. Real-time data plays a crucial role in a business's success regardless of its industry or size. However, businesses that use outdated technology and traditional data management techniques, such as manually inputting data into spreadsheets or relying on quarterly reports, miss out on valuable insights regarding their business operations.

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Tax Court Case Shows IRS Effort to Revoke Passports for Tax Debt

CPA Practice

By Ken Berry, J.D. If you’re planning to take a trip out of the country, make sure that your tax obligations have been paid up. Otherwise, as shown in a new case, Belton, TC Memo 2023-13, 1/24/23 , the IRS might try to revoke your passport. Background : Under a little-noticed spending measure enacted in 2015, the Fixing America’s Surface Transportation (FAST) Act, the IRS can deny, revoke or limit a passport if you have a seriously delinquent tax debt exceeding $50,000, barring a special excepti

Tax 98
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Auditors find ways to examine AI despite lack of framework

Accounting Today

Even without formal standards, professionals are still finding ways to examine and test AI.

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Balancing automation and compliance in expense reporting

Xero

This guest blog post was written by the team at financial management app, Expensify. Finding the right balance between automation and compliance in any business process can be challenging. For example, when it comes to managing expenses, manual expense tracking and paper-based processes can lead to errors, delays, and inefficiencies. On the other hand, automating every aspect of expense reporting without proper checks and balances can potentially result in compliance issues too.

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September's 'QB Talks' is All About QuickBooks Desktop 2024

Insightful Accountant

Insightful Accountant has scheduled Murph to host our regular 'QB Talks' on Sept. 20 to discuss "QuickBooks Desktop 2024.

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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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Scarcity of accounting talent creates material weaknesses

Accounting Today

While companies are working in overdrive to fill accounting positions, they are finding themselves up against a confluence of factors.

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The Year of Efficiency Part 3: Empowering Your Employees

Cherry Bekaert

Technology products and software that are hyper-focused on creating efficiencies within an organization can save time and money, and even help scale a business. But as a technology leader, have you taken a step beyond that to explore what it can mean for the empowerment of your employees? Join Cherry Bekaert’s Client Accounting Services Leader, Dixie McCurley , as she discusses the importance of breaking down silos within an organization and creating a culture of true collaboration with our gue

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Meta, Google face digital tax in New Zealand beginning in 2025

Accounting Today

New Zealand will introduce legislation this week that enables a digital services tax on large multinational companies, though the levy won't be imposed until 2025.

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5 AI Strategies Accountants Can Use to Unlock More Freedom and Productivity

CPA Practice

By Shane Westra. Artificial Intelligence, or AI as it is regularly referred to…is undoubtedly the business buzzword of the year. This is for good reason because this technology continues to make many common business functions far more efficient than ever before, including new solutions that can help accounting firms advance their productivity and unlock more freedom for firm owners and employees.

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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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IRS and Treasury release guidance on wage requirements for clean energy jobs

Accounting Today

The Internal Revenue Service and the Treasury Department issued guidance to require employers to meet the prevailing wage and apprenticeship requirements for clean energy jobs and tax credits under the Inflation Reduction Act.

Tax 98
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Keynote Speakers Announced for Digital CPA Conference

CPA Practice

Rapid technological advancement and innovation present an enormous opportunity for the accounting profession to reimagine its role as trusted business advisors, and the Digital CPA (DCPA) conference connects CPAs and firm leaders with insights, business model strategies and tools to transform their practices to maximize the opportunity. DCPA 2023, hosted by CPA.com and the AICPA & CIMA, will take place at the ARIA Resort & Casino in Las Vegas Dec. 3-6, 2023.

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Small business news wrap for August!

Reckon

No time to read and digest the glut of business news swirling in the online jet stream? Here’s a quick roundup of Australia’s most pressing and interesting business news in August 2023. What does the end of 3G mean for Australian businesses? Not everyone is aware that the groundbreaking 3G network is about to be switched off across the country in favour of 4G and 5G.

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Inspector General’s Office Reviewing Labor Department’s Efforts to Stop Child Labor Law Violations

ThomsonReuters

Federal labor law for children The Fair Labor Standards Act (FLSA) establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in federal, state, and local governments. Federal child labor laws are designed to protect the educational opportunities of minors and prohibit their employment in jobs and under conditions detrimental to their health or well-being.

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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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SEC Nabs Its First NFT Case, Commissioner Peirce Won’t Be Throwing a Party

Going Concern

Yesterday the SEC announced charges against Impact Theory, LLC , a media and entertainment company headquartered in Los Angeles, for conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs). Impact Theory raised approximately $30 million from hundreds of morons investors, including colossal idiots investors across the United States, through the offering.

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New Xero Beautiful Business Fund to Award SMBs with Funding

CPA Practice

Xero , a global small business platform, has announced a new global small business fund with more than NZ$750,000 in funding, to support the future aspirations of small businesses globally. Designed to celebrate small businesses, empower success and accelerate their growth, the Xero Beautiful Business Fund will be open to Xero small business customers in Australia, New Zealand, Singapore, South Africa, the United States, Canada and the United Kingdom.

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13 Non-deductible Expenses and Other FAQs for Tax Time

inDinero Tax Tips

Separating deductible and non deductible expenses can be tough. You may find yourself asking: Does this expense go on the personal card or the business card? For all the lists of valid business expenses, sometimes it’s easier to know what is deductible by knowing what’s non-deductible. This article will help you avoid commingling funds and maintain the personal asset protection of your LLC by guiding you away from potential non-deductible pitfalls.

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How Real Estate and Construction Companies Can Take Advantage of the Expanded Section 45L Tax Credit

Cherry Bekaert

The Inflation Reduction Act (IRA) drastically changed the 45L Energy Efficient Home Credit ( Section 45L) and the Section 179D Energy Efficient Commercial Buildings Deduction ( Section 179D) quantities and requirements, thus allowing more opportunities for home builders and multi-family developers constructing energy-efficient homes to earn money back.

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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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IRS delay of catch-up rules comes with clarifications for industry

Accounting Today

The agency and the Treasury Department two-year reprieve gives retirement advisors time to prepare — and a preview of upcoming guidance about Secure 2.0.

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5 steps that will help you get engaged by your ideal prospective clients

Mark Lee

Some accountants just want to work for anyone who can afford them and who will engage them. Some accountants have more specific aspirations. And some accountants have very specific prospective clients in mind. All are perfectly reasonable approaches – as long as you do more than simply hope and dream. I see an awful lot of adverts and marketing messages for and about various accountancy firms.

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Small business job and wage growth flattened in August

Accounting Today

The rate of growth for hiring and hourly earnings stabilized this month, according to Paychex.

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Nominations Open for CPA Practice Advisor’s “40 Under 40” and “20 Under 40” Awards

CPA Practice

Nominations for the 2023 Awards are now open. Click here to go to the free nomination form. The 40 Under 40 Awards spotlight the top practicing public accountants, educators and thought leaders who are leading their profession by visibly and incrementally changing the accounting profession through their exemplary leadership, their innovative thinking, their collaborative efforts to provide unity to the profession across the generations, and their community outreach which extends the visibility o

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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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In the blogs: Storm clouds

Accounting Today

ERC questions; rethinking revenue; Ozempic and Wegovy; and other highlights from our favorite tax bloggers.

Tax 58
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10 ethical and enforceable tactics to make sure your invoices get paid

Inform Accounting

Wouldn’t life be simple if you could guarantee that your invoice would get paid on time, every time? Sadly, this isn’t always the reality. With the economy coming out of recession, there is a very clear and present danger that your business invoices may not get paid in a timely fashion. Here are our best tips for getting your invoices paid.

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Artificial intelligence: 8 emerging technologies

Reckon

The ship has finally landed. Or perhaps it’s actually sailed? Whichever way you see it, 2023 will no doubt be earmarked in the annals of history because we can count ourselves as the first humans to witness the true birth of Artificial Intelligence. Not only has the tech finally matured, but various permutations of its complex tools have become freely available for the public to use (or for a modest price).

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#CallForChange to Help Accounting, Tax Professionals Reclaim Profitability

Insightful Accountant

Industry thought leaders Dawn Brolin, Logan Graf, Tiffany Davis, Ryan Lazanis, Eric Green, and others, are partnering with Ignition to institute a new wave of change for US accountants and tax professionals.

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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.