Wed.Oct 26, 2022

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Be Prepared – 2022 Year-End/Year-Round Tax Planning Guide

Dent Moses

Dent Moses is committed to helping you maximize your income through a variety of tax-saving strategies. We are sharing our 2022 Year-End/Year-Round Tax Planning Guide. . 2022 Year-End/Year-Round Tax Planning Guide. With the lingering impact of the global pandemic and the recent passage of the Inflation Reduction Act, there are a number of tax developments to consider for the current tax year.

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Debra Kilsheimer on Billing, New Tech Selections and Running a Successful Firm

Intuitive Accountant

On the latest episode of Accounting Insiders, the owner of Behind the Scenes Financial Services and Top 100 ProAdvisor joins Gary DeHart to talk shop—and more. Check out the interview on the Insightful Accountant YouTube page.

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What Are the Types of Revenue Small Business Owners Need to Know?

Patriot Software

To keep business operations running smoothly, you need incoming money. When you make a sale or earn money from another activity, you need to record it. Learn how to record the types of revenue in different accounts. That way, you can keep your accounting books updated, organized, and legal. What is revenue? Revenue, or sales, […] READ MORE.

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What are the benefits of forecasting revenue?

Basis 365

Forecasting revenue is essential, no matter how big or small your business. Everyone has heard of strategic planning and when it is time to hire new employees. But do you know when you should expand your team, launch your next marketing campaign, or launch your product? How can you plan your budget for advertising, marketing, and sales? This is especially important if you're a start-up with no prior experience.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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E-File vs. Paper File: The Advantages and Disadvantages You Must Consider

Patriot Software

In this digital era, it may seem surprising that there is an option to file a paper tax return. But before you kick the idea of paper filing to the curb, consider the advantages and disadvantages of e-File vs. paper file below. E-File vs. paper file E-Filing, or electronic filing, is the process of submitting […] READ MORE.

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What is the R&D Tax Credit, and How do I Claim It?

Basis 365

Organizations can save on taxes by using the Research and Development tax credit. However, many business owners need to be aware of the R & D credit or believe it applies to their situation. To claim it, having test tubes or lab coats is unnecessary. Yet, this is everything you need about the research-and-development tax credit. What's the R&D tax credit for?

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Automate. Digitize. Repeat.

Intuitive Accountant

A new FLEETCOR survey shows how automation provides small businesses opportunities to overcome some of their most pressing challenges.

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Income Statement vs. P&L

Patriot Software

Knowing your business’s financial health is key to budgeting, decision making, and implementing change. You can learn about your finances by using financial statements. To find out your company’s net profits during a specific time, use the income statement or P&L. What is the difference between income statement vs. P&L? P&L vs. income statement P&L […] READ MORE.

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When a Local Skagit County Business Is Shutting Its Doors

SkagitCountyTaxServices

This might not apply to you. So it could just be something to file away for the future. But I’m hearing enough rumblings from other accountants and seeing some of the signs … SMB owners could be in for a tough ride over the next little while and that could mean any Skagit County business could end up shutting its doors. And sure – nobody likes to think about the end of something.

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The Pros and Cons of a Partnership

Patriot Software

If you’re starting a business and have one or more partners, it might seem obvious to form a business partnership. This is a business structure that allows you and at least one other person to both have ownership of the business. Even though forming a partnership might make sense, it’s not your only option. Before […] READ MORE.

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Planning Your Restaurant's Path to Profitability

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.

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QuickBooks for Mac 2023 Condense Utility – Part 1

Intuitive Accountant

In this two-part series, Murph examines the enhanced condensed utility within QuickBooks for Mac 2023.

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What Is the Product Life Cycle, and How Does it Impact Pricing Strategies?

Patriot Software

Part of being a small business owner is strategizing pricing, creating and marketing products or services, and paying attention to industry trends. If you sell goods, you need to know about the product life cycle. Product life cycle is a model that the majority of business owners recognize and follow. It helps small business owners […] READ MORE.

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Avoiding Layoffs: Alternatives to Workplace Reductions

GrowthForceBlog

11 min read. In September 2022, the U.S. economy added 263,000 jobs, and the unemployment rate shrank to 3.5% [1]. These optimistic numbers have made some economists hesitate to call the country's economic situation a recession. Key Takeaways. Why Layoffs Are a Savvy Business Leader's Last Resort: Although letting go of employees is a simple way to save money, this strategy also comes with hidden costs….

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Use a Suspense Account for Questionable Transactions

Patriot Software

Sometimes, you don’t have all the necessary information for accounting. Missing or incorrect details can derail your bookkeeping efforts, but you need to record every transaction. Use a suspense account when you’re not sure where to record general ledger entries. What is a suspense account? A suspense account is an account where you record unclassified […] READ MORE.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Quote of the Day: “The War For Talent Is Over. Talent Won.”

Going Concern

Fresh off the presses from CNBC , PwC US Chair Tim Ryan just dropped the mic on the talent shortage: In the headlines, the war for talent is still taking place on two fronts, with a hot labor market still tilted to job seekers even in a cooler economy, and companies testing the power they have post-pandemic to mandate a return to office. On that second front, though, PWC U.S.

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What Is Zero-Based Budgeting, and How Can it Help Small Businesses?

Patriot Software

To stay on top of your business expenses, you need to constantly plan and update your small business budget. When you make a traditional budget, you use the previous budget and tweak it. This might not be the most effective way to make a budget, especially for small companies. Another option is zero-based budgeting. What […] READ MORE.

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When a Local Skagit County Business Is Shutting Its Doors

SkagitCountyTaxServices

This might not apply to you. So it could just be something to file away for the future. But I’m hearing enough rumblings from other accountants and seeing some of the signs … SMB owners could be in for a tough ride over the next little while and that could mean any Skagit County business could end up shutting its doors. And sure – nobody likes to think about the end of something.

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Assets Definition, Types of Assets, and More

Patriot Software

Over time, your small business gains assets when you purchase items that bring value to your company. These assets are an essential part of your business that can help generate revenue and increase your business’s value. So, what are assets? What are assets? Your business’s assets are items or resources of value, such as property, […] READ MORE.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Intuit QuickBooks Holiday Shopping Survey

SchoolofBookkeeping

Are you ready for the Holidays? It is right around the corner, and we are excited to see what Santa brings us this year. This year as inflation rises, more people will be waiting to see what deals they can capture on Black Friday and comparing prices by shopping online. Although many local vendors need our support more than ever. Will you bargain shop or shop local?

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What Is Deferred Revenue?

Patriot Software

Do customers pay you for your goods or services before you actually deliver them? If so, you need to know about deferred revenue. Learn about deferred revenue and how to record it in your accounting books. What is deferred revenue? Deferred revenue refers to payments customers give you before you provide them with a good […] READ MORE.

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Intuit QuickBooks Expands Accountant Segment Leadership Team

SchoolofBookkeeping

QuickBooks is continuing to grow and evolve. The focus is to continue to foster its relationships with the accounting community for now and in the future. As our most trusted partners, we are focused on innovating for accounting professionals to support their small business clients, helping to achieve our shared goal of powering small businesses' success.

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How Long to Keep Business Receipts

Patriot Software

If you find yourself tossing receipts left and right, you may want to think again. As a small business owner, keeping receipts is essential for your financial records. And not being able to locate a receipt can be problematic for your business. You need to know how long to keep business receipts to avoid complications […] READ MORE.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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On-Demand Webinar: Redirecting Financial Planning and Analysis (FP&A) for Better Results

Withum

Please join Withum’s Joe Riccie and Graham Kitching from Practus Advisors , as they discuss the current state and outlook for the Financial Planning & Analysis (FP&A) function within an organization. They start by identifying current issues such as the gap in the process; unmet needs; and talent/labor shortages and then explore solutions for the future such as modernization and best practices.

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Crafting an Effective Emergency Preparedness Plan for Your Small Business

Patriot Software

You likely take steps to protect your personal belongings from natural disasters at home. But, do you do the same with your business? The last thing you want is to be unprepared during a disaster. Instead of being caught up in a whirlwind when the unexpected occurs, create an emergency preparedness plan for peace of […] READ MORE.

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ICYMI: KPMG Screwed Up

Going Concern

Didn’t see this press release when it came out last week and because we delight in taking every opportunity possible to point out how objectively terrible KPMG is we’re sharing it with you now. Via the PCAOB : The Public Company Accounting Oversight Board (PCAOB) today announced settled disciplinary orders sanctioning three audit firms for failing to disclose on PCAOB Form AP the participation of unregistered firms in audits of public companies, in violation of PCAOB Rule 3211, Audit

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How to Be Self-employed and Efficiently Manage Your Business’s Books

Patriot Software

Being your own boss sounds ideal. But when you’re self-employed, you may also become your own office manager, bookkeeper, and marketing specialist. To set your business up for success and balance your responsibilities, you need to learn how to be self-employed. How to be self-employed Self-employed individuals run their own businesses and work for themselves. […] READ MORE.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Attract Better Donations with a Strong Gift Acceptance Policy

Anders CPA

Although it may seem counterintuitive, creating a gift acceptance policy that outlines unwanted donations to your not-for-profit organization is the easiest way to reduce confusion for staff and frustration for donors. It may be tempting, especially for organizations in their early years, to enact a “make-policy-as-needed” approach, but that method can lead to acceptance of gifts that are financially burdensome or costly to your organization’s reputation.

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Do You Know How to Account for an Accrued Bonus?

Patriot Software

Performance-related or annual bonuses reward employees and encourage them to be more productive. Some employers may choose to offer an accrued bonus. Read on to learn about providing an accrued bonus, how to account for bonus accrual, and rules to follow. What is an accrued bonus? An accrued bonus is a bonus that is contingent […] READ MORE.

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Lessons Learned in Client Onboarding

Summit CPA

The Virtual CPA Success Show: Episode 65. In the first quarter of 2020, we published an episode and talked all about client onboarding. We wondered what has changed at Summit CPA since and thought why not circle back on this topic to discover the lessons we've learned. Today, Jamie Nau, our host and Summit CPA's Director of Accounting/Virtual CFO, Adam Hale, Partner at Anders CPAs + Advisors, and Lydia Rapp, our Project Manager, takes a step back to look at how far we've come in terms of onboard

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Understanding an Employee Stock Ownership Plan, And How It Can Benefit Your Business

Patriot Software

As a business owner, you might offer a variety of benefits to your employees, including health insurance and retirement plans. One option you can offer employees is an employee stock ownership plan (ESOP). Along with other benefits, ESOPs are growing in popularity for small businesses. According to the National Center for Employee Ownership (NCEO), as […] READ MORE.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.