Xero
MARCH 30, 2023
Late payments have long been one of the biggest frustrations for small businesses. They cost jobs. They force healthy businesses to close. They stop businesses from meeting their own commitments, like paying their people. They cause any number of sleepless nights and serious mental health consequences as people running small businesses are forced to juggle to make ends meet.
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.
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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: 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.
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.
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.
CPA Practice
MARCH 30, 2023
Tim Fernholz, Quartz (via TNS). Sometimes it seems like billionaires can dominate our lives—or at least the news. A mystery in U.S. tax data, however, suggests at least one super-wealthy individual flew under the radar until the very end. The U.S. Treasury’s daily reports of government financial transactions turned up a surprising data point on Feb. 28, 2023: The deposit of $7 billion in the category of “estate and gift” taxes.
Xero
MARCH 30, 2023
Over recent years, the world of accounting and bookkeeping has evolved with the times. From advancing business models to offering expanded services to be able to meet new client demands; change has been a constant for the industry. The biggest shift, however? Alongside small businesses, many practices have digitalised rapidly to keep pace with today’s environment.
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.
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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.
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.
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.
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
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.
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
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.
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?
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.
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
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).
Insightful Accountant
MARCH 30, 2023
The Institute proposes an operational plan for resources included in the Inflation Reduction Act of 2022.
CPA Practice
MARCH 30, 2023
Anna Oakes Quartz With talk of quiet quitters and pressure on employers to create a space where we can bring our whole selves to work, work is still work. Some of it’s great. Much of it can feel meaningless. It’d be easy to think that the events of 2020 and beyond caused us to wrestle with our relationship with work , but these questions about the meaning of our work have been around for awhile.
Xero
MARCH 30, 2023
The first-ever Xero Talks event took place on 15 April, and judging by the energetic conversations happening on and off stage, it was a huge hit with attendees. Key speakers on tech, talent, and industry change gave us their insights in following sessions: Three things in life are certain: Death, taxes, and AI Navigating the talent challenge Future leaders panel Why is having a great employment brand so important?
Advertiser: Paycor
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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.
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 (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
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.
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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.
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.
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"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.
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