Tue.Oct 03, 2023

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Avoid These Common Budgeting Mistakes for Your Business

AccountingDepartment

Budgeting is crucial for any business that wants to succeed in the long term. As a business owner or CFO for a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.

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What’s new in sales tax?

TaxConnex

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. A break from holidays? This year, states reportedly will forgo a combined $1.6 billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. Virginia, to name one state, just voted to reinstate their holiday.

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2024 Public Accounting Starting Salary Numbers Are In

Going Concern

Staffing authority Robert Half has released its much-anticipated 2024 Salary Guide and just like years past, the guide is packed with intel not only on finance and accounting but the greater job market that we really don’t care about. We’ll be deconstructing various aspects of the guide over the next few weeks, for now we’re taking a look at basic public accounting salaries and service lines.

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Republicans press IRS on ERC backlog and fraud

Accounting Today

GOP members of Congress are demanding answers from the Internal Revenue Service about the backlog in processing claims for the Employee Retention Credit, only weeks after the IRS imposed a moratorium.

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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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What You Need to Know About Taylor Swift Tickets and a New IRS Rule

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) If you’re a Kansas City Chiefs fan or a “Swiftie,” you might have wondered recently whether Travis Kelce and Taylor Swift are dating. But all the excitement and talk about Taylor’s appearance at an NFL game has also raised questions about what Eras Tour tickets have to do with taxes. So, to sort out some of the confusion, here’s what you need to know about how reselling concert tickets (not just those for Swift’s tour) might impact your

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New FinCEN reporting rules approaching

Accounting Today

The 'beneficial ownership' disclosure requirements are a challenge for both small businesses and accountants.

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More Trending

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Public Accounting Starting Salaries Expected to Increase Nearly 4% in 2024

CPA Practice

Starting salaries for roles in tax services are projected to increase an average of 3.6% in 2024, while audit and assurance services will see starting salaries likely go up an average of 3.8% next year, according to a CPA Practice Advisor analysis of public accounting pay data provided by specialized staffing firm Robert Half. Robert Half’s salary guide for 2024 was released on Monday, featuring starting salary projections for a plethora of roles in accounting and finance.

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Our new AI-powered contact predictions have arrived

Xero

We recently announced at Xerocon Sydney that our team was busy enhancing the AI algorithms that power bank reconciliation in Xero, so it would recognise new contacts in your statement lines (even when they’re not in your contact list). We’re excited to share that this new feature is now live and available to all Xero customers globally. Here’s how it works and how to recognise it when it appears in your bank reconciliation.

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Client Relationships 2.0: Enhancing Trust with Expanded Offerings

CPA Practice

Client demands and expectations are shifting. Accountants report that there’s been a shift to advisory services to better meet the needs of clients and also improve revenue. Relationships are changing, too. This is what I call “client relationships 2.0.” Accounting firms must start to enhance trust and expand their offerings to keep clients around. Clients have many options, especially with virtual services, so it makes sense to do everything you can to retain clients by becoming an integral par

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Talking Tax: Expert Crypto Tax Analysis From Withum’s Ryan Babiak

Withum

In this episode, Mark Eckerle sits down with Ryan Babiak, a Tax Partner at Withum, to delve into the taxation of cryptocurrency.

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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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SOX “Lite” Compliance Services: Benefits for Small Companies

Cherry Bekaert

In the latest episode of our Risk & Accounting Advisory podcast, Neal Beggan , Risk Advisory Leader, and key leaders from Cherry Bekaert’s Risk Advisory SOX practice, Gareth Montague-Smith and Peyton Black , discuss the concept of SOX “Lite,” a controls diagnostic service for smaller or private companies that can help prepare companies to go public, help remediate material weaknesses or significant deficiencies, provide efficiencies for companies facing difficult audits and more.

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Lawmakers Urge the IRS to Crack Down on ‘Wealthy Tax Cheats’

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Since receiving funding from the Inflation Reduction Act, the IRS has ramped up tax enforcement for millionaires, but data show the agency has yet to crack down on a separate set of wealthy non-filers. Lawmakers, including Senate Finance Committee Chair Ron Wyden (D-Ore.), want the agency to increase compliance efforts for high-income earners who aren’t paying taxes.

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How beating the digital drag can help fuel your small business growth

Xero

From your local plumber and barber, to your favourite cafe, these small businesses sit at the heart of our communities. They are the ones driving jobs, economic growth and a place for people to come together. These smallest businesses — those employing up to nine people — make up 15% of the UK’s turnover, and provide over a quarter of jobs. But despite this, a “digital drag” is holding the smallest firms back from reaching their full potential.

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How Artificial Intelligence Will Impact the Accounting Industry?

Ace Cloud Hosting

Artificial intelligence, a technology that’s been more than just a buzzword in recent years, has laid its foot in the accounting industry. Think about it—every day, we use tools with.

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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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Three Complex Tax Issues Businesses are Facing Now

CPA Practice

There are a myriad of challenges and changes in the tax codes affecting their business clients each tax season. With an economy still trying to gain more certain footing, businesses facing new market conditions, and a constantly evolving IRS, the business and tax advisors at KBKG have identified three of the most significant changes the IRS has implemented, each of which can have strong impacts on businesses.

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Dreamforce 2023 Key Takeaways: AI and Sustainability

Cherry Bekaert

Another successful sponsorship of Dreamforce is in the books for Cherry Bekaert. Dreamforce 2023, Salesforce’s premiere technology conference in San Francisco, was all about artificial intelligence and sustainability, and we had a front-row seat to all the action. Cherry Bekaert was also on center stage, presenting on c-suites solving the carbon neutral puzzle with Net Zero Cloud.

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Plugging accounting skills gaps with retention and automation

Accounting Today

Firms need to develop new retention strategies, pairing automation with the changing role of the accountant.

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The Pros and Cons of a Family Business

Insightful Accountant

While there are a number of dynamics at play, it is how you handle these situations that go a long way in determining if a family business is right for you. Bryan Cytron and Scott Cytron of Cytron and Company explain.

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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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What is Capital Gains Tax in the UK?

Wellers Accounting

Everything you need to know to answer the question what is Capital Gains Tax in the UK, from an explanation of the concept, to how it's applied.

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Cybersecurity spending rose 70% in four years

Accounting Today

A recent report from credit rating agency Moody's found organizations have increased their spending on cybersecurity by 70% over just four years.

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How Switching to Sage Intacct® Can Set Your Business Up for Growth

GrowthForceBlog

7 min read Sage ® is a business management software company that is quickly gaining traction in the space with products designed to cater to businesses of all sizes, providing software designed to streamline not just accounting, financial management, and compliance but also human resources, customer-response management, and business management across industries.

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Banking Webinar Series: Tread Carefully with TRID – Owning Your Fee Tolerances and Managing Disclosure Documents

Anders CPA

Wednesday, November 8 at 10:30am CT Has your financial institution taken its eye off the ball when it comes to TRID disclosures to focus on other priorities? Lending institutions should periodically reexamine their TRID management processes and evaluate its effectiveness as examiners remain laser-focused on the issue. Violations related to the loan estimate and closing disclosure remain common during regulatory examinations and can lead to consumer reimbursement for unfortunate lenders.

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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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MISys Manufacturing Now Offers Microsoft Azure Deployment

Insightful Accountant

MISys is offering a new cloud-hosting option for MISys Manufacturing for deployment with Microsoft Azure.

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Small-business wage and job growth slowed in September

Accounting Today

Hourly earnings growth slipped at small businesses last month to the slowest pace since September 2021, according to Paychex.

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How accountants can win clients and keep them for life…

Mark Lee

Before delving into the strategies that can help you win and maintain clients for your accountancy practice, I must manage your expectations. There’s no magic bullet or hidden secret that will replace everything you already know about client relationships. What follows therefore are fundamental principles that, if you keep them in mind, will assist you in attracting and retaining the type of clients that you want.

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Ascend invests in Goering & Granatino

Accounting Today

The private equity-backed firm has expanded to the Midwest.

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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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Staff 2 Who Couldn’t Fake It at EY Anymore: “I Would Just Cry Every Single Day After Work”

Going Concern

A 24-year-old woman working at EY in Seattle who left after a year because she didn’t know what she was doing and could no longer fake it let it all hang out on her TikTok. Some choice quotes from her “Why I quit my job with no backup plan ” video (embedded below): “I don’t understand accounting, I don’t like what I’m doing.” “When I would tell other seniors and staff, like, how I felt they would all tell me ‘Everyone here is faking it,

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Study: Team integration, automation and client education top list of accounting industry challenges in the UK

Accounting Insight

While the demand for professional accounting services has risen dramatically due to increasingly complicated market conditions and economic uncertainty, the UK accountancy space is still struggling with generating sustainable growth, with a shortage of talent and skills being a key roadblock. A study by digital pension platform Penfold and Kaizen Accountancy Services has revealed that team integration, automation and client education are the top three challenges accountants face today.

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Execs plan to bolster cybersecurity and push third parties to do same

Accounting Today

New cybersecurity rules from the SEC have prompted execs to push for stronger protections for their own companies and for third parties they deal with.

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AI Unchained: Botkeeper Announces New Direction

CPA Practice

A software company’s conference is rarely complete without some announcements of improvements in the product, and Botkeeper did not fail to deliver on that front at the first (annual?!) Botkeeper conference, aptly named AI Unchained. Designed for current and would-be Botkeeper users, as well as those who just want to know more about the company and its product, Botkeeper’s September conference in Boston captivated more than 200 on-site and nearly 2,000 virtual participants with plenty of advice

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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.