Fri.Sep 30, 2022

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Burned out on public accounting or burned out on your firm? They're not the same thing

Accounting Today

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Amazon Warehouse Does Not Create Physical Nexus in PA

TaxConnex

In a decision that may eventually have sales tax repercussions elsewhere, a state court has decreed that an Amazon warehouse creates no physical nexus for a group of online sellers. The Commonwealth Court of Pennsylvania sided with the Online Merchants Guild when the latter contested charges by the state Department of Revenue (DOR) for taxes owed. The Guild is a group of online businesses who participate in Amazon’s Fulfillment by Amazon (FBA) Program, who generally had limited choice where thei

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What data can, and should, small businesses collect about their customers?

Xero

Last week, we held our fifth Responsible Data Use Advisory Council meeting. These meetings, held quarterly, are an opportunity to discuss emerging trends around responsible data use for small businesses. . As we move into our second year, the council is evolving too. . Samuel Burmeister of Tall Books has regretfully stepped back from the council to focus his efforts on his growing business.

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The Talent Shortage Has Gotten So Bad Clients Are Now Doing Their Own Audit Documentation

Going Concern

The Securities and Exchange Commission has charged Deloitte China with failing to comply with fundamental U.S. auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation. From the SEC press release : The Securities and Exchange Commission today charged Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China), the Chinese affiliate of the Deloitte global ne

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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Blooper reel: Tiny but important mistakes on returns

Accounting Today

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Understanding the §179D Tax Deduction for Humans, Part 2

Going Concern

Examining the effects of the Inflation Reduction Act on §179D. Welcome to part two of our series on the IRS Section 179D tax deduction. We explained how the §179D tax deduction works and who qualifies for it in part one. For this entry, we’ll take a look at the future of our plucky lil’ write-off friend, focusing mainly on the effects of the Inflation Reduction Act of 2022 (hint: those effects have nothing to do with inflation.).

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More Trending

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How Are Public Accounting Salaries Stacking Up For 2023? (Part 1, Robert Half)

Going Concern

’ Tis the season for Robert Half either inflating or popping your balloon when it comes to projected starting salaries in public accounting for the coming year. The staffing and recruiting giant released its 2023 Accounting & Finance Salary Guide on Monday, which includes starting salary expectations for jobs in 35 categories, including public accounting.

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Baker Tilly to acquire True Partners Consulting

Accounting Today

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Live from SuiteWorld 2022 – NetSuite Enhances Analytics Warehouse to Maximize the Value of Customer Data

Intuitive Accountant

Latest updates help organizations better manage large volumes of business data to accelerate insights, improve decision making and create new revenue streams

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Deloitte's China firm penalized $20M for letting clients audit themselves

Accounting Today

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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Following the Money: What Is Cash Flow?

Patriot Software

As a small business owner, there’s no better way to understand the health of your business than through your cash flow. But, what is cash flow? Cash flow is the money that moves in and out of your business. Your cash flow either keeps your business afloat or can cause it to sink. Read on […] READ MORE.

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Grant Thornton sees revenue grow 17% to $2.3B in FY 2022

Accounting Today

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Xero and The Football Association launch partnerships to champion women in football

Xero

Where were you on 31 July 2022, when a corner was swung in and Chloe Kelly poked the ball into the net? A scrappy goal made beautiful by the weight of history, the support of a nation, and of course, 56 years of hurt. England were crowned UEFA Women’s Euro 2022 champions. . More moments like this will only be possible when the barriers facing girls and women in football are removed.

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A 'Black tax' costs U.S. cities millions they can't afford

Accounting Today

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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IRS Announces Special Per Diem Rates for Travel Away From Home Beginning October 1, 2022

ThomsonReuters

IRS Notice 2022-44 (Sept. 26, 2022). Available at [link]. The IRS has announced the special per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2022. Employers using these rates to set per diem allowances can treat certain categories of travel expenses as substantiated without requiring that employees prove the actual amount they spent.

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Tax Fraud Blotter: Three times the fun

Accounting Today

Tax 98
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Stripe vs PayPal in 2022: The Ultimate PayPal vs Stripe Review

Snyder

Trying to decide which payment platform to choose for your business? Chances are that when picking a payment provider you’re stuck with two main options – Stripe vs PayPal. Stripe and PayPal are two of the best online payment solutions on the market offering a wide range of financial services and covering day-to-day needs of e-commerce businesses.

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FASB releases supplier finance standard

Accounting Today

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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APPS Directory Spotlight — Fyle

Intuitive Accountant

Check out the new-age expense management platform that enables finance teams and employees to easily track expenses and automate reconciliations for any corporate credit card from any bank in real-time.

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Brown Schultz Sheridan & Fritz raises over $3,500 for Pennsylvania charity

Accounting Today

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AICPA Lauds Taxpayer Deadline Extention Effort

Intuitive Accountant

The American Institute of CPAs applauds bicameral letter to Department of the Treasury and IRS urging deadline extension for penalty relief.

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Rehmann merges in Vestal & Wiler

Accounting Today

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Webinar Time: 'Getting Started with QuickBooks Commerce'

Intuitive Accountant

In today's online shopping world, Liz Scott takes a deep dive into how QuickBooks Commerce can help your clients manage their accounting and inventory needs. Sign up for this 'can't miss" webinar today.

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Mazuma Launches $10K Giveaway for Small Businesses

MazumaBusinessAccounting

Want to win $10,000 for your business? Mazuma USA is giving away $12,000 to small business owners across the United States. Any small business can apply for the giveaway, which includes a $10,000 grand prize and two $1,000 runner-up prizes. “Our focus as a company is helping business owners thrive,” says Greg Nielson, Mazuma co-founder. “We all need help or inspiration at some point in our business journey.

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Latest push by Chinese firms to avoid U.S. delistings falls short

Accounting Today

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IRS Extends Additional CARES Act and Disaster Relief Amendment Deadlines

ThomsonReuters

IRS Notice 2022-45 (Sept. 26, 2022). Available at [link]. The IRS has extended the deadline for amending 401(k) plans (and other eligible retirement plans, as well as individual retirement arrangements (IRAs)) to reflect relief relating to plan loans and coronavirus-related distributions under the CARES Act (see our Checkpoint article ) and “qualified disaster distributions” under the disaster-relief provisions of the Consolidated Appropriations Act, 2021 (CAA; see our Checkpoint article ).

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Routable introduces OCR

Accounting Today

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No Fiduciary Breach Where Insurer Sets Guaranteed Rate of Return on Stable Value Contract in Shared Interest of Plan Participants

ThomsonReuters

Rozo v. Principal Life Ins. Co., 2022 WL 4005339 (8th Cir. 2022). Available at [link]. A 401(k) plan participant brought a class action against a life insurance company, claiming a breach of ERISA’s fiduciary duty of loyalty and prohibited transaction provisions in connection with the insurer’s setting of the guaranteed rate of return on a stable value contract investment option.

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AccountingDepartment.com Attends EO XCentric 2022

AccountingDepartment

Our second Entrepreneurs' Organization (EO) event of the year, EO Xcentric, took place in Cincinnati, Ohio, and ADC Co-Founder, Bill Gerber, set out to spend some time with all of the event attendees.

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Are the articles of secondhand clothing offered for sale on ThredUp’s online store included in inventory on ThredUp’s balance sheet?

Wendy Tietz

ThredUp Inc. is a startup online consignment and thrift store. Customers can buy like-new, carefully vetted brand-name clothing from ThredUp’s online store at discounts of up to 90% off of the original retail prices. Customers can also send in their unwanted clothing articles for ThredUp to resell. tThredUp’s professional buyers go through the articles of […].

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.