RogerRossmeisl
MARCH 30, 2023
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax under the tax code. This includes amounts received in a lawsuit or a settlement and in a lump sum or in installments.
TaxConnex
MARCH 30, 2023
Everything old is new again – and that goes for ideas of a national sales tax. H.R.25 of the 118th Congress, the GOP’s “Fair Tax Act of 2023,” is the latest attempt. The embattled bill, now in committee, was introduced early this year to replace the federal income tax. What’s in the bill? What’s at stake for the revenue of states that already have their own sales tax?
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Airbase
MARCH 30, 2023
Michael Scarpelli’s career path has been as unique as the snowflakes his company is named for. From a stint in Italy, to uncovering extensive fraud, and taking three prominent companies public — including the biggest SaaS IPO in history — his wide range of experiences made for a fascinating Path to Becoming a CFO session. Launching a career. The possibility of travel was initially what drew Michael to finance.
Withum
MARCH 30, 2023
As of March 29, 2023, the IRS has published five documents expressing that the employee retention credit (ERC) is rife with fraud because of unscrupulous tax credit shops. See October 19, 2022 (press release); November 7, 2022 (COVID Tax Tip); March 7, 2023 (press release); March 7, 2023 (OPR Memo); March 20, 2023 (IRS adds promoter claims involving the ERC to its Dirty Dozen list of tax scams).
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.
CPA Practice
MARCH 30, 2023
Alex Tanzi Bloomberg News (TNS) To meet increasing spending needs, households can generally do two things: cut spending or raise income. A large share of Americans are doing the latter, according to a new survey. Almost half of employed consumers hold a side job or have some other form of supplemental income such as selling artisan products, data released Monday by LendingClub Corp. in partnership with industry publication Pymnts.com show.
Going Concern
MARCH 30, 2023
McKinsey & Co. is joining KPMG , BDO USA , and Accenture in culling the consulting herd. Like Accenture, McKinsey doesn’t get much lip service on this website but it is worth talking about here because cuts from non-Big 4 consulting firms reflect the overall health of the consulting market which therefore effects the firms we do write about.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Going Concern
MARCH 30, 2023
As accounting firms dig deep into their pockets to raise starting salaries and the profession’s biggest egos brains figure out new and exciting ways to ease the accountant shortage, there are things that you, as an accountant, can do right now to make a difference. Although it may not feel like you can make a difference, in the aggregate all of you operating as a unit can move the needle and in turn illuminate the path to accounting as a promising career full of okay-ish earning potential
Accounting Insight
MARCH 30, 2023
With 2023 now well underway, we’re beginning to see changes in how practices approach their use of cloud, as they navigate past historic challenges to take advantage of the opportunities the cloud offers. The cloud was once viewed as mainly a cost-savings-focused technology model, allowing businesses to control and even optimise expenditures to get more out of their IT budgets.
Withum
MARCH 30, 2023
Withum is proud to share that three team members have been named on ROI-NJ’s Influencers: Women in Business List for 2023. Carleen Gaskin , Jessica Hollobaugh and Nicole Lyons of the Forensic and Valuation Services team were all named by the New Jersey business publication on their annual Influencers list. The Women in Business Category celebrates female business leaders across industries who excel in their roles and serve as leaders and mentors for the next generation.
CTP
MARCH 30, 2023
At the end of 2018, to the dismay of the IRS and the Tax Court, the Second Circuit joined the First and Sixth in reversing the Tax Court’s decision in the Summa Holdings “substance over form” matter. In these three related appellate cases, the IRS sought to recharacterize millions of dollars that had been paid as commissions into a domestic international sales corporation (DISC) and then shielded from income tax when the DISC contributed the funds to a Roth IRA.
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.
Withum
MARCH 30, 2023
Withum’s global advisory and accounting network, HLB International, ranks 10th largest worldwide advisory and accounting network. Withum proudly shares that International Accounting Bulletin (IAB) ranked HLB International as the 10th largest global advisory and accounting network. Withum is an independent member of HLB International, a global network of independent advisory and accounting firms, which reported 9% growth in 2022.
AccountingDepartment
MARCH 30, 2023
As a business owner, there are many tasks that you need to handle to ensure the smooth running of your operations. Among these tasks, bookkeeping is perhaps one of the most critical yet time-consuming on the list. Keeping financial records organized and up to date is essential for making informed business decisions , yet it can be quite overwhelming, especially if you don't have a background in such an area.
Patriot Software
MARCH 30, 2023
You have your time card management down to a science. Employees fill them out, you approve them, and boom! You send them off to payroll, and your job is done. But what happens when an employee makes a mistake? Can employers change time cards? Or is it illegal for an employer to change time cards?
inDinero Accounting
MARCH 30, 2023
For startups and growing companies, burn rate can make the difference between thriving for years or closing up shop. It’s a critical metric for any investor who may be thinking of supporting your business. It’s also frequently misunderstood and underestimated by those who should pay attention to it most. Here’s what you need to know about burn rates, including what they are and why they matter — and how to calculate yours and determine if it’s where it should be.
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.
Insightful Accountant
MARCH 30, 2023
It is easy to forget things, especially if we don't use them very often. And if we forget them, then we probably forget to teach them to our clients as well.
ThomsonReuters
MARCH 30, 2023
Report to Congress: Annual Report on Self-Insured Group Health Plans (Mar. 2023); Appendix A, Group Health Plans Report: Abstract of 2020 Form 5500 Annual Reports Reflecting Statistical Year Filings (Oct. 2022, v. 1.0); Appendix B, Self-Insured Health Benefit Plans 2023: Based on Filings Through 2020 (Sept. 30, 2022) Report Appendix A Appendix B The DOL has released its required annual report to Congress on self-insured health plans.
Insightful Accountant
MARCH 30, 2023
The Institute proposes an operational plan for resources included in the Inflation Reduction Act of 2022.
MineralTree
MARCH 30, 2023
Accounting for franchises is a complex web of responsibilities. Teams have to manage multiple entities, all the while maintaining consistency and streamlining processes across each location. Accounts payable (AP) automation has become a popular tool for franchises to overcome these obstacles. In this article, we will discuss the challenges associated with franchise accounting and how AP automation helps solve them.
Advertiser: Paycor
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.
CPA Practice
MARCH 30, 2023
With the month of March soon to be in our rearview mirrors, we wanted to thank the members of our Accounting Top 100 community for their ongoing participation and also welcome the six new members who have joined us since the first of the year. It’s wonderful to see this network grow! Here are some highlights from the latest Top 100… We’re keeping an eye on Aynsley Damery, CPA ( @aynsleydamery on Twitter).
inDinero Accounting
MARCH 30, 2023
For startups and growing companies, burn rate can make the difference between thriving for years or closing up shop. It’s a critical metric for any investor who may be thinking of supporting your business. It’s also frequently misunderstood and underestimated by those who should pay attention to it most. Here’s what you need to know about burn rates, including what they are and why they matter — and how to calculate yours and determine if it’s where it should be.
CPA Practice
MARCH 30, 2023
The American Institute of CPAs has submitted a letter to the Department of the Treasury and the Internal Revenue Service (IRS) requesting a broadening of relief provided administratively under section 7508A(a) of the Internal Revenue Code and automatically providing such postponed date lookback period as part of its administrative relief for all disasters going forward.
Snyder
MARCH 30, 2023
Over the last two years the world of commerce changed drastically because of the coronavirus pandemic which led to more people shopping on the Internet. Nowadays a staggering 85% of consumers around the globe do their shopping online. The numbers are predicted to grow and one day online retail may well become the only option. Can you picture ordering just about anything on the Internet and picking it up from a drone, robot, or nearest “pickup-point”?
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.
CPA Practice
MARCH 30, 2023
The American Institute of CPAs (AICPA) has publicly advocated for funding that supports an effective and efficient tax administrative system and has now stated its position on the Internal Revenue Service’s (IRS) upcoming operational plan for the $80 billion appropriation provided to the IRS through the Inflation Reduction Act of 2022 (IRA). In a letter submitted to the Department of the Treasury and the IRS, the AICPA indicates the allocation of resources should include the following: Stronger
Insightful Accountant
MARCH 30, 2023
Finimpact’s Women’s Empowerment Business Grant program is still open to women-owned small business applicants. See how you can be eligible for up to $10,000 in funding.
Analytix Finance & Accounting
MARCH 30, 2023
The risk of cyberattacks has increased significantly in recent years as the world continues to rely more heavily on technology. In today’s digital age, cybersecurity is an increasingly important concern for businesses of all types, and accounting firms are no exception. This is because accounting firms typically store sensitive financial data on their clients.
CPA Practice
MARCH 30, 2023
Augusta Saraiva Bloomberg News (TNS) U.S. mortgage rates edged down to a six-week low of 6.45%, helping drive a fourth-straight advance in applications to buy a home. The contract rate on a 30-year fixed mortgage eased 3 basis points in the week ended March 24, Mortgage Bankers Association data showed Wednesday. The group’s index of mortgage applications to purchase a home rose 2% to 172.7.
Advertiser: Paycor
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.
LSLCPAs
MARCH 30, 2023
It’s that time of year when we remind you to make any final contributions to your prior year IRA, Roth, or HSA accounts. These contributions are due by the first due date of personal tax returns, so April 18th for most of the country. If you happen to live in California (all counties except Lassen, The post Time Sensitive Opportunities Regarding IRAs: 2022 IRA and HSA Contribution Deadlines appeared first on LSL CPAs.
Canopy Accounting
MARCH 30, 2023
As we near the end of Women’s History Month (WHM), I want to give voice to our journey as women in the workplace. The theme of this year’s WHM is “Celebrating Women Who Tell Our Stories.” This theme resonates for me when you think about the barriers women have faced and overcome to speak up, push back, advocate for change, and own the narrative. As that famous slogan said: We’ve come a long way.
Basis 365
MARCH 30, 2023
ARE ALL ACCOUNTING SERVICES THE SAME? COMPARING DIFFERENT ACCOUNTING PARTNERS CAN BE LIKE COMPARING APPLES AND ORANGES. ACCOUNTING SERVICES (OR OFFERINGS) ARE NOT ALL THE SAME. BREAKING DOWN THE DIFFERENT ACCOUNTING PARTNERS YOU MAY BE CONSIDERING AND WHICH ONE IS RIGHT FOR YOU. One of the most significant challenges we hear from prospective customers is understanding what we deliver to them and comparing that to other accounting options they have discovered.
CPA Practice
MARCH 30, 2023
Billtrust , a B2B accounts receivable (AR) automation and digital payments market leader, surpassed $100 billion in payments volume in 2022, a 35% year-over-year increase and a first for the company. In addition, with CFOs and finance leaders seeking to bolster their financial resilience amid an economic downturn, Billtrust’s client base grew to exceed 2,400 customers globally, as Billtrust enabled them to present over 423 million bills to 13 million buyers.
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.
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