CPA Practice
FEBRUARY 23, 2023
By Lana Tleimat, Fast Company (TNS) Americans are increasingly relying on self-employment: Workers are seven times more likely to be self-employed than they were in 2000, according to Gallup. As many as 28% of U.S. workers do some work for themselves, with 14% using it as their primary source of income. But being your own boss isn’t all freedom and sweatpants.
Airbase
FEBRUARY 23, 2023
“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” — Lao Tzu Predictions about the state of the economy are notoriously difficult. In fact, one study by the International Monetary Fund concluded that economists are uniformly unsuccessful at predicting recessions. In the words of Prakash Loungani, one of the study’s authors, “the failure of economists to forecast recessions is virtually unblemished.
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CPA Practice
FEBRUARY 23, 2023
What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Some are even turning away business due to a shortage of staff. That’s the finding of two newly released reports by leading software provider Caseware International , which surveyed more than 6,000 accountants and auditors globally.
Airbase
FEBRUARY 23, 2023
Procure-to-pay (P2P) software originated from the need to oversee the process of acquiring supplies for manufacturing and other industries, and to manage inventory in the retail sector. Procurement has faced numerous challenges in recent years: transportation issues, inflation, labor shortfalls along the supply chain. But organizations can overcome those difficulties and position themselves to grow and thrive — with the help of the right technology.
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.
TaxConnex
FEBRUARY 23, 2023
All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Imperial Rome’s Julius Caesar is considered to have implemented a proper sales tax, a 1% flat rate across his entire Empire.
CPA Practice
FEBRUARY 23, 2023
Small business owners feeling anxious or stressed out this time of year are certainly not alone. Eighty percent say they feel at least some stress at tax time, according to a recent survey by FreshBooks. Almost 63% of small business owners rate their tax time stress at 3 or more on a scale of 5. Overall, taxes can be a real buzzkill for small business owners, with many saying they would rather do a number of unpleasant things than deal with them.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
FEBRUARY 23, 2023
You were proactive and diligent about readying your accounting firm for tax season, and yet you’re still facing staffing gaps precisely when you need all hands on deck. You’d like to hire some new employees, but your search for viable candidates isn’t yielding the results you’d hoped for. Know that you’re not alone in your recruitment struggles: research for Robert Half’s 2022 Demand For Skilled Talent report found that 87% of finance and accounting managers are challenged in finding skilled pro
Insightful Accountant
FEBRUARY 23, 2023
A new partnership between AICPA & CIMA and University of Oxford's Saïd Business School takes aim at bolstering the industry's global sustainability efforts.
CPA Practice
FEBRUARY 23, 2023
Many in the accounting industry have switched to Voice-over-Internet-Protocol (VoIP) phone systems from traditional phone landlines to run their practices more efficiently. This is because VoIP, unlike traditional phone lines, truly transform the way they communicate through numerous features and benefits already built into the system, and VoIP comes with substantial cost savings.
Going Concern
FEBRUARY 23, 2023
This morning, SAP announced that it has picked former King of Deloitte Punit Renjen as designated supervisory board chairman. You’ll remember he was liberated from Deloitte last fall after many years and many billions of dollars together with the firm. Deloitte US CEO Joe Ucuzoglu succeeded Renjen as Deloitte Global CEO at that time and still holds that position today (we’d hope so, it was only a few months ago that he got the job).
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.
Insightful Accountant
FEBRUARY 23, 2023
On behalf of Insightful Accountant and Tax Practice News, Murph reviews RCReports, a tool for determining reasonable compensation, and more.
Withum
FEBRUARY 23, 2023
Withum is proud to share that local business publication ROI-NJ has named Jim Bourke, Bill Hagaman and Pat Walsh to their 2023 Power List in Accounting. Jim Bourke , Managing Director of Advisory Services, is a sought-after global speaker on all issues involving technology, the profession and business advisory, in addition to his duties to clients as a Partner of the Firm.
Patriot Software
FEBRUARY 23, 2023
In 1942, Rhode Island was the first state to offer Temporary Disability Insurance (TDI) benefits to employees. Following the success of this program, Rhode Island created the Temporary Caregiver Insurance (TCI) program in 2013. Rhode Island TCI offers qualifying employees paid leave to care for their loved ones in certain situations.
ThomsonReuters
FEBRUARY 23, 2023
Stop giving away your expertise for free. Sure, you are charging clients for your services; however, the real value is not within your services but within the advisory relationship you are ideally building with your clients. The advisory relationship is the bedrock that enables you to form trust and provide higher-value services to your clients. It is how you better understand their goals and develop loyal and profitable relationships.
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.
CPA Practice
FEBRUARY 23, 2023
Hotel-generated state and local tax revenue will reach new heights nationally ($46.71 billion) and in states across the nation this year, according to state-by-state projections released today by the American Hotel & Lodging Association (AHLA) and Oxford Economics. Average U.S. hotel occupancy is projected to reach 63.8% in 2023 – just shy of 2019’s level of 65.9%.
ThomsonReuters
FEBRUARY 23, 2023
QUESTION: For 2023, an employee elected $2,400 of health FSA coverage under our calendar-year cafeteria plan, which is funded solely through employee salary reductions and does not provide for carryovers or include a grace period. The employee has already incurred medical expenses equal to this amount in 2023 and wants to be reimbursed for the expenses now, even though she has only made health FSA salary reductions of $400 to date.
Going Concern
FEBRUARY 23, 2023
Bored of writing and talking about the dire accountant shortage and the consequences it could have on the entire financial system as we know it, the other day I tweeted a question to find out what else folks think is plaguing accounting. Thanks to everyone who chimed in, I know sometimes Twitter feels like shouting into the void know but know that your feedback is appreciated.
AccountingDepartment
FEBRUARY 23, 2023
For new and growing businesses, accounting may not be the most exciting topic for owners, however, it's good accounting that will keep a business alive and prepared for what is around the corner.
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.
Lockstep
FEBRUARY 23, 2023
We’re excited to share the latest update to Lockstep Inbox , which includes enhanced search functionality. With these updates, you will have an improved Lockstep Inbox experience. You will be able to quickly and easily find the information you need, thanks to the improved search capabilities, which provide more relevant results in a fraction of the time.
MineralTree
FEBRUARY 23, 2023
Cash flow forecasting is a critical part of financial planning for businesses of all sizes. Accurate cash flow forecasts help businesses plan for the future, identify trends, and make strategic financial decisions. In this blog post, we will discuss the importance of cash flow forecasting and how businesses can better manage their cash flow through AP analytics and better data management.
Accounting Insight
FEBRUARY 23, 2023
Award-winning accounting software provider, iplicit , is launching a major push in the education sector with an objective to disrupt the norm and shake up incumbent finance software providers. Targeting the growing number of multi-academy trusts (MATs) with its own product, iplicit can save MATs thousands of pounds as they can scale to support their growth – a common challenge for existing legacy, on-premise software.
CPA Practice
FEBRUARY 23, 2023
Avalara has launched Avalara Property Tax , a new automated solution for businesses for real property and personal property tax management designed to improve tax compliance with automation. Avalara Inc. is a provider of cloud-based tax compliance automation for businesses of all sizes. “Today, property tax is one of the most challenging business compliance activities,” said Jayme Fishman, EVP and GM of Indirect Tax at Avalara.
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.
ThomsonReuters
FEBRUARY 23, 2023
Client relationships, like any relationship in life, can at times be challenging. Miscommunication, unrealistic expectations, and personality differences are bound to surface on occasion, but establishing boundaries early on can help accountants avoid these problems and better manage client expectations. When both accounting clients and staff are on the same page, it helps strengthen client loyalty, drive profitability, and reduce stress.
Ronika Khanna CPA,CA
FEBRUARY 23, 2023
Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income. For example if you purchase a domain name with the intent of setting up a website to sell your goods or services, this would be a deductible expense.
ThomsonReuters
FEBRUARY 23, 2023
National Medical Support Notice Forms and Instructions (Jan. 19, 2023); HHS Action Transmittal AT-23-01 (Jan. 17, 2023) Forms and Instructions Action Transmittal HHS’s Office of Child Support Enforcement has released an updated version of the National Medical Support Notice (NMSN) with changes to both Parts A and B. An NMSN is a standardized medical child support order that is used by state child support enforcement agencies to obtain group health coverage for children.
Insightful Accountant
FEBRUARY 23, 2023
See the payment solutions provider that makes it easy for businesses of any size in any industry to make, receive or manage their payments.
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.
CPA Practice
FEBRUARY 23, 2023
AbacusNext, a software provider for legal and accounting professionals, has rebranded as CARET to further unite the family of the most successful brands in professional service automation and technology. “Legal and accounting firms have an outsized impact on the world as the most important advisors to their clients,” states Keri Gohman, CEO, CARET. “Under the CARET brand, we will offer firms the technology and automation they need to transform their practices with robust practice management, doc
Insightful Accountant
FEBRUARY 23, 2023
Check out how the financial operations platform for B2B SaaS can help you today.
CPA Practice
FEBRUARY 23, 2023
The corporate quest to achieve pay equity is not getting easier: 41% of human resources professionals say their organization is struggling to address pay equity, a 10% increase over the prior year. According to Salary.com’s second annual Employer Pay Equity Pulse Survey the top three challenges are: getting leadership to support pay transparency, integrating their pay philosophy into their corporate culture, and learning how to conduct a pay equity analysis.
ThomsonReuters
FEBRUARY 23, 2023
Electronic-Filing Requirements for Specified Returns and Other Documents, 26 CFR Parts 1, 53, 54, and 301, 88 Fed. Reg. 11754 (Feb. 23, 2023) Regulations News Release The IRS has finalized regulations substantially expanding mandatory electronic filing of information returns. The regulations, which were proposed in 2021 to implement statutory changes made by the Taxpayer First Act of 2019 (see our Checkpoint article ), establish lower thresholds for mandatory electronic filing of the following
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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