Tue.Aug 16, 2022

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7 easy ways to increase the value your clients get from you

Mark Lee

Your clients are more likely to stay with you if they feel they are getting great value for the fees they pay you. The challenge comes when you and your client have different views as to what ‘value’ means in this context. Accountants often assume that great value means their fees are competitive and that they aim to provide great client service.

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Why Sales Tax Technology Only Solutions Are Not Enough

TaxConnex

Since the Wayfair decision four years ago, sales tax compliance has had to become a major priority for businesses with multistate sales. In fact, 24% of finance professionals rank one of their top concerns of managing sales tax as keeping up with their evolving nexus footprint, according to a TaxConnex blind survey conducted at the end of 2021. The survey also stated that over 10% of respondents still weren’t fully aware of the impact of Wayfair (economic nexus) on their business.

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When To Hire an HR Professional for Your Startup

BurklandAssociates

Consider bringing on HR when you reach milestones like hiring your first out-of-state employees, adding benefits, and creating an employee handbook. The post When To Hire an HR Professional for Your Startup appeared first on Burkland.

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Now’s the Time to Revisit Your Buy-Sell Agreement – Will Your Company’s Buy-Sell Work at Today’s Valuations?

Dent Moses

Valuations for most businesses have dramatically increased over the last few years. There is plenty of activity and cash in the M&A market. Industries (like engineering) have become targets for venture capital pushing valuations even higher. Many of the buy-sell agreements were set up when the business started, sometimes decades ago, and are no longer appropriate.

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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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Navigating the Schedule K-2, K-3 Landscape – Don’t Overlook Penalty Relief

ThomsonReuters

Starting with their tax years that begin in 2021 (the 2021 tax year) pass-through entities with items of international tax relevance must contend with a number of new forms and instructions. Specifically, Schedules K-2 and K-3 for Form 1065, Partners’ Distributive Share Items—International, Schedules K-2 and K-3 for Form 1120-S, Shareholders’ Pro Rata Share Items—International; and.

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What Kind of Services Does an Accounting Controller Provide?

IgniteSpot

Top Services Accounting Controllers Provide. Controllers help create financial processes that protect the company from financial harm. They’re your trusted resource to take ownership of accounting, bringing expertise that bookkeepers and accountants don’t have. These strategy-driven financial pros bring specific benefits to the table to push your financial health and business potential to the next level, creating opportunities.

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More Trending

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Commonly overlooked accounting issues small businesses owners must address

Basis 365

As a small business owner, you have a lot on your plate. You're likely to be busy managing, marketing, and filling a half dozen roles simultaneously if you run a small business. As a result, it's easy to forget about simple accounting issues until it's too late. Taxes on self-employment Self-employment tax may apply if you are self-employed. This tax is around 15.3% and adds to your other federal and state taxes.

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CalCPA BUZZ: Rise & Stride Episode 4 Released

CalCPA

CalCPA member, attorney and award winner Shannon Nash, CPA—CFO of the on-demand, drone delivery service Wing—shares her experience on bringing Google’s Alphabet technology. The post CalCPA BUZZ: Rise & Stride Episode 4 Released appeared first on Hot Topics.

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Common Ways to Hold Title in California

KROST

We often get questions from clients on how to hold title to property they are about to purchase. As real estate might be the most important asset that an individual or couple may own, how ownership is vested is extremely important. Proper titling will affect the current and future rights of parties to the transaction, Read the full article. The post Common Ways to Hold Title in California appeared first on KROST.

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Top 10 Tips for New Executive Directors

GrowthForceBlog

8 min read. Whether you're a first-time-ever executive director or it's your first time acting as an executive director at a new organization, your new position is going to have some major challenges.

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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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Quickly Adapt To Growth By Upgrading To Stronger Systems

AccountingDepartment

In today's world, one of the biggest things people hear about is supply chain issues and delays in the building and construction industries. Even with those delays, these industries are booming and bringing a large amount of work to companies. With that, engineering firms, architecture firms, and others play a role in getting things done in a timely manner to make those industries succeed and they are growing at a rapid rate.

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How to Simplify Communication With Clients

Accounting Web

Clients How to Simplify Communication With Clients.

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Introducing our Xerocon New Orleans event partners

Xero

Xerocon New Orleans is a unique opportunity to hear about the latest news and updates in the Xero community, get inspired by world-class keynote speakers, and connect with powerful apps, tools and services providers from across the accounting and small business industries. Take a look at some of our Xerocon New Orleans 2022 event partners, and make sure you add them to your list of must-meets on August 24 and 25 at the New Orleans Ernest N.

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The IRS is So Broke Staff Have to Buy Their Own Paperclips

Going Concern

While we continue to wonder which hat the IRS is going to magically pull 87,000 new agents out of , more stories are coming out about just how tight things are at our nation’s tax collector. Like this recent NBC News article : Will Kohler, who works as a tax examiner at the IRS office in Cincinnati, said supply shortages mean he sometimes has to use his own pens and paper clips.

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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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Back it Up … What Is Backup Withholding, and Are My Contractors Subject to it? 

Patriot Software

When you pay an independent contractor, you don’t withhold taxes from their wages … or do you? In some cases, contractor wages are subject to backup withholding. So, what is backup withholding, and when do you need to do it? What is backup withholding? IRS backup withholding requires you to withhold tax from payments that […] READ MORE.

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Major changes to R&D Rules from April 2023

Menzies

Menzies LLP - A leading chartered accountancy firm. The release of the Draft Finance Bill legislation on 20 th July confirmed that the R&D rules are set to see major changes for periods starting from 1 April 2023 , affecting both the RDEC and SME R&D regimes. As expected, the draft legislation refocuses the R&D rules on UK innovation, with significant tightening of the rules to counter abuse, however the news is not all bad for clients, as there is a welcome extension to the R&D

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The Neat Company to Offer Free ACH/Bank Transfers

Intuitive Accountant

By ending ACH transaction fees on receivables, the small business financial management platform becomes the first to offer inbound ACH/bank transfers at no additional cost.

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IRS to delay foreign currency tax rules

Accounting Today

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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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Sage to Acquire Lockstep

Intuitive Accountant

The acquisition will help drive accounting workflow automation for today's small- and medium-sized businesses, and accountants.

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Inflation reduction on the way

Accounting Today

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Teaching Tip: How can a Stream Deck help with your synchronous (live online) class sessions?

Wendy Tietz

One of my favorite pieces of hardware for teaching live online is the Stream Deck. The Elgato Stream Deck is a small control panel with 15 customizable physical buttons that be easily set to do a variety of tasks. The Stream Deck plugs into a USB port and will work with Windows or Mac operating […].

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IFAC offers online resource center for accountants

Accounting Today

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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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Illinois Will Soon Let You Sit for the CPA Exam With 120 Units, Should All States?

Going Concern

“What are they gonna do, stop requiring 150 units? THAT’S CRAZY.” That’s what a stakeholder told me recently when we spoke about the accountant shortage and the growing gap between students getting accounting degrees and recent graduates sitting for the CPA exam. Fewer people are pursuing accounting degrees and the ones that are have been less and less interested in taking the CPA exam as time goes on.

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PayPal named the most intrusive financial app

Accounting Today

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The corporate tax department business case: Making the final tax technology pitch

ThomsonReuters

For corporate tax departments, making the tax technology pitch for an automated solution is a relatively simple one. 1—It will save money by: reducing tax errors and over-payments. making the department’s overall operations more efficient. reducing IT maintenance costs and reliance on third-party outsourcing. 2—It will protect the organization against: fines and penalties for being out of compliance. the reputational risks of being penalized or sanctioned. errors and violations associated with o

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Doc.It by IRIS now sports cloud functionality

Accounting Today

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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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Tax Deductions for 529 Plans Outside of Your Resident State

Anders CPA

A 529 plan is a tax-advantaged savings plan which is aimed toward encouraging saving for primary and secondary education expenses. These plans are sponsored by states and, in some cases, private educational institutions. Many taxpayers wonder whether they can contribute to a state plan outside of the state they reside in, and the answer is yes, but it may affect your tax deductions.

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Neat makes ACH/bank transfers free

Accounting Today

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Pool Allocation Considerations for Government Contractors

Withum

With Summer in full effect, what a perfect time to talk about building pools – cost pools, to be exact. To develop an indirect cost rate structure, costs must be segregated into homogenous pools where the allocation measures for indirect cost are based on the beneficial or causal relationship between an indirect cost pool and cost objectives. To best introduce the concept and importance of pooling cost and the most common categories related to government contracts, it is best to visualize an exa

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Sage acquires Lockstep

Accounting Today

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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.