Tue.Feb 07, 2023

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5 Key Findings from TaxConnex’s 3rd Annual Sales Tax Trends Report

TaxConnex

Findings from the third annual Sales Tax Market Survey indicate that a perfect storm is brewing for financial leaders in the new year. Companies still struggle to navigate workforce shortages and retention of internal expertise, yet they remain highly dependent on in-house resources to perform many of the vital functions related to sales tax. Their resources are stretched thin, and bandwidth is reported to be the top barrier for success.

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Our New TechCrunch Article: What Recent Changes to State Taxes Mean for US SaaS Startups

BurklandAssociates

Do not assume that your product or service is non-taxable or that you’ve identified all your areas of potential tax liability. The post Our New TechCrunch Article: What Recent Changes to State Taxes Mean for US SaaS Startups appeared first on Burkland.

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Achieving Inventory Efficiency: 6 Steps to Develop a Winning Plan

Acterys

No matter what your business looks like at present, it is essential to establish a successful inventory plan and management strategy to ensure the success of your business. Developing an effective inventory plan is crucial since it helps to enhance customer satisfaction, increase profitability, reduce costs, and improve cash flow. Previously, we looked at the basics of inventory planning and the four main pillars of an inventory plan.

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Illinois CPA Society Accepting Scholarship Applications

CPA Practice

In a continued effort to provide valuable resources to accounting students and increase the pipeline of future certified public accountants (CPAs), the Illinois CPA Society and CPA Endowment Fund of Illinois are now accepting applications for more than 40 scholarships ranging from $1,000 to $4,000 each that will be awarded for the 2023-2024 academic year.

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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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Let’s Talk About Why ‘Musculoskeletal Issues’ Are on the Rise at This Accounting Firm

Going Concern

Although I am not a loyal reader of Human Resource Executive I did come across an article they just did on CLA — also known by their confirmation name CliftonLarsonAllen — and the benefits HRE outlined in said article sound awesome. Flexible PTO, a wellness stipend, access to cognitive behavioral therapy for the employee as well as any of their family members above the age of 13…great.

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CPA Society News & Updates – Feb 7, 2023

CPA Practice

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. = The Hawaii Society of Certified Public Accountants is offering a webinar on February 17, 2023 titled Schedules K-2 and K-3: Why Even Partnerships and S Corporations with No Foreign Activities or Members May Need to Prepare These Forms.

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Accounting Top 100 Social Media Leaderboard – Feb. 1, 2023

CPA Practice

Today’s smart phones have become essential communication devices with at-our-fingertips applications that connect us to our social spheres, news, and technology. This release we asked our participants to share the most-used apps on their smart phones and as expected, we received some interesting responses and recommendations that we plan to check out!

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Seven Business and Technology Predictions for the Tax & Accountancy Industry for 2023

Accounting Insight

Whether you’re a practice or a technology vendor in the tax and accounting industry, investments in people and technology are going to feature prominently in 2023. Despite the recession, we’re set to see practices continue to invest in technology, while vendors will continue to evolve and optimise their processes to improve the customer experience. Here are eight predictions that we’re likely to see unfolding in the tax and accounting business and technology landscape for 2023.

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See the '2023 State of Accounting Marketing Report'

Insightful Accountant

CPA Site Solutions' latest report provides essential insights into the current state of accounting firm marketing and where firms are headed in 2023.

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Google Opens Up ChatGPT Rival AI ‘Bard’ to Early Testers

CPA Practice

By Davey Alba and Julia Love, Bloomberg News (TNS) Alphabet Inc.’s Google is getting its ChatGPT competitor ready for prime time. The company said on Monday that its new conversational AI service, called Bard, would be opening up to trusted testers, and that it is readying the service for the public “in the coming weeks.” The technology aims to generate detailed answers when given simple prompts, such as what to make for lunch or how to plan a friend’s baby shower.

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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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Using Your Platform for Charitable Causes

Withum

Being a public figure in today’s day can be very profitable and comes with a far-reaching platform that can be used to make a significant impact for charitable causes. Along with this, however, comes an unprecedented spotlight with increased scrutiny and significantly more reputational risk than the average person. We help navigate this critical area with some helpful tips.

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Accounts Payable Automation Does More Than Just Issue Payments

AccountingDepartment

While accounting software has been around for decades, many businesses still rely on manual processes within their accounts payable (AP) operations. Using a high-level software system like NetSuite for business operations, like accounts payables, provides small to medium-sized businesses opportunities to save money, reduce risk, and increase efficiency throughout the full AP process.

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A Going Concern Special Investigative Report: Why Does NASBA’s CPA Merch Suck So Bad?

Going Concern

While clicking around NASBA’s website this afternoon on a hunt for information I need for an actual article and not the shitpost you are about to read, I came across their merch page and excitedly clicked over to “CPA merchandise” to see what they had. CPA stress balls? “I got a 75 on REG and all I got was this lousy T-shirt” T-shirts?

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Warehouse Wednesday: Enterprise Expiration Date 'Update'

Insightful Accountant

Murph has an update to his earlier article covering the new 2023 QuickBooks Enterprise feature for Expiration Date Tracking.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Eleventh Anniversary of The Partners’ Network Blog

Withum

This is the 1,058 th blog I have posted in the last 11 years. My first blog was posted on February 7, 2012, and it seems like a long time ago and also seems like yesterday. Time flies when you enjoy what you are doing and also when you are engaged in new things. Posting a weekly blog sort of forces me to think of new ideas to write about. At first, the ideas were easy because I addressed concerns clients had.

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How to optimize the tax research process

ThomsonReuters

As a tax and accounting professional, you are well aware that tax research and staying current with new developments can be time-consuming, especially in today’s ever-changing legislative and regulatory environment. In fact, state legislatures have found that keeping pace with the changes and complexity of tax laws continues to be a top concern for most CPA firms.

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Taking the pain out of IR35

Accounting Insight

After all the turbulence of the last year, it seems tax law has now settled – which means the IR35 reforms are here to stay. That means some headaches for employers and payroll teams working with contractors are here to stay too. But there are some simple steps you can take to avoid the worst of it. What the IR35 rules are The phrase “IR35” is short-hand for what HMRC calls “off-payroll working”.

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Is Your Accounting Software Being Discontinued?

Accounting Seed

Here’s how to take control What was once a gentle push and recommendation to take your accounting to the cloud has become a mandate. Many of the big-name accounting software providers such as QuickBooks are officially ending support for desktop solutions. Businesses now have a unique opportunity to evaluate their options. Sticking with the brand you know may no longer be the smartest option for your business and may no longer represent best-in-class technology.

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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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Australian business news: what’s happening right now?

Reckon

Right, it’s February already, far out brussel sprout. So, with 2023 well underway, lets take a brief look at what’s happening in the Australian business landscape. AI gains stronger foothold We’ve been hearing about artificial intelligence for a long time. Usually, we’re served news about what’s coming in terms of new tools and software programs, but now AI is really heating up.

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These Are 7 Tools Amazon Sellers Have To Try in 2023

Snyder

No one truly accomplishes anything alone, and no business operates without a lot of expert help. While you might be a great visionary when it comes to your Amazon FBA hussle – if you’re running or in the process of building an FBA e-commerce business, Amazon seller tools are an important building block in the process. Why Are Amazon Seller Tools So Important?

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BKR Adds Members in Cyprus and Belgium

CPA Practice

BKR International has announced an increase in its European presence with new member firms in Cyprus and Belgium. Cyause Audit Services Limited are based in Nicosia and have more than 20 years’ experience. The firm provides a full spectrum of services and have international clients spread across Europe, the Middle East and the United States. They are keen to increase its service offerings to clients and joining a truly global international accountancy association is seen by managing partner Kyri

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Registration opens for Accountex, Europe’s largest accountancy and finance event

Accounting Insight

Accountex London is returning to ExCeL on the 10-11 May 2023 for its biggest show yet. Over two days , 8000+ accountants, in-house finance professionals and bookkeepers from all over the world will be returning to the capital for the free annual event. More than 250 top fintech companies will be giving software demos and there will be a diverse CPD accredited education programme to explore.

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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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EisnerAmper Names LPGA Star as Brand Ambassador

CPA Practice

EisnerAmper, one of the largest business consulting firms globally, has signed a multi-year sponsorship agreement with LPGA golf star Paula Creamer to become a brand ambassador. As part of this agreement, EisnerAmper’s logo will be featured on Creamer’s golf shirts during all her golf-related appearances, starting in 2023. Paula holds 12 LPGA titles, including the 2010 US Women’s Open.

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How will an inventory management system support business growth?

Menzies

Menzies LLP - A leading chartered accountancy firm. As a SME knowing what you have and have not got in stock is crucial. Too much and your taking up valuable room for more popular products; too little and you run the risk of disappointing keen customers. So how can you overcome this potential business pitfall? The answer: a good inventory system perhaps?

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AvidXchange Launches AvidAnalytics, A Business Intelligence Tool for the Middle Market

CPA Practice

AvidXchange, a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, has launched AvidAnalytics, a premium Business Intelligence (BI) solution. AvidAnalytics offers buyer customers custom reporting methods to help improve spend management and drive stronger results and efficiency for the organization.

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SECURE Act 2.0 Impacts RMD Age in 2023 and More – How the Updated Law Will Affect Your 401(k) Audit

Anders CPA

Congress passed a new act called the Securing a Strong Retirement Act of 2022 (commonly referred to as SECURE 2.0) as part of the Consolidated Appropriations Act of 2023, which was signed into law by President Joe Biden. There are several provisions as part of SECURE 2.0, which we have written about in the past. We have summarized those provisions that became effective January 1, 2023, below.

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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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20:20 Vision of the opportunities ahead

Accounting Insight

Whether on a mandatory or voluntary basis, more and more businesses are reaping benefit from consulting with individuals outside of their organisation when making strategic plans and decisions. This article considers how even the smallest accountancy practice can take advantage of outside voices and influence to fuel its own success and growth. If an accountancy practice, or any business, only consults within their internal team, they will not necessarily see all that lies ahead; what opportunit

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AvidXchange Launches AvidAnalytics

Insightful Accountant

The business intelligence tool for the middle market offers spend management capabilities beyond standard industry reporting

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3 Minutes with Lucy Cohen

Accounting Insight

Lucy is not only the Co-Founder of Mazuma, the UK’s first ever accountancy subscription service but is passionate about small and micro-businesses, and their impact in the UK economy. We grabbed 3 minutes to get to know a bit about Lucy, her motivations and career… 1. How did you get into the profession? I’d taken a year out before university to work in film and tv, a career I thought I wanted.

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QBTalks is Feb. 15 at 2 p.m. (EST)

Insightful Accountant

Hold on to those Valentine's Day wishes for one extra day so you can share them with this month's hosts of QBTalks.

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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.