Tue.Jun 27, 2023

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Sales Tax Compliance: Steps for Startups

BurklandAssociates

Startups can face serious penalties for failing to comply with state sales tax laws. If you’ve fallen behind, help is available. The post Sales Tax Compliance: Steps for Startups appeared first on Burkland.

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Sales Tax Software vs. Service Providers: Making the Right Choice for Your Business

TaxConnex

Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise. Fortunately, there are options outside of managing sales tax on your own, but it leaves you with a choice - sales tax software or service provider?

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Deloitte Plans to Have a Third of Its Workforce Operating From India Within the Next Four Years, Says South Asia CEO

Going Concern

That’s it. That’s the story. Published today in India’s business paper The Economic Times : Deloitte plans to have around 30% of its workforce operating from India within the next four years, with an estimated total employee count ranging from 150,000 to 160,000, as the country figures prominently in the firm’s global growth plans, according to Romal Shetty, CEO, Deloitte South Asia.

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How Accounting Pros Can Leverage Technology to Overcome the Biggest Struggles

CPA Practice

By James Paille, CPP. The top five biggest challenges for firms in 2023 include the war for talent, rising salaries, a capacity crunch, burnout and staff retention. Further, keeping up with tech, the price of IT and cybersecurity also fall within the top 10 concerns. This is unsurprising as more than 300,000 accountants have left their jobs in recent years, and technology continues advancing to include cloud and automation.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Exploring Debt Relief Options

Insightful Accountant

Let's face it—debt can be heavy. Here are some debt relief options—and the pros and cons—you and your clients can use to find your way through the maze.

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Driving the Discipline of Strategic Growth

CPA Practice

By Jasen Stine and Gale Crosley. Our tax and accounting profession is continuing to be disrupted by marketplace dynamics from technology and economic conditions to competition and regulation. Business owners and firms need to be thinking about how to adapt to keep up with the “changing neighborhood” around them. Gale Crosley, CPA, CGMA, is a leading strategic organic revenue growth consultant to hundreds of large, and large-thinking CPA and accounting firms worldwide.

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Tax and Accounting Best Practices for Cryptocurrencies

CPA Practice

By Sonia Dumas. As a tax and accounting professional, you will encounter clients who require guidance regarding investing in cryptocurrencies and digital assets. Here are some best practices to follow when advising clients involved in cryptocurrencies. Understand the liabilities and limitations Crypto investment is risky. Therefore, the foremost responsibility is to make your clients aware of the limitations and liabilities of investing or trading in cryptos.

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Boosting eCommerce Success: Solving Accounting Challenges with Outsourced Accounting and Basis 365

Basis 365

Running an eCommerce business comes with challenges, and accounting is a critical aspect that often poses difficulties. Accurate financial records, managing cash flow, ensuring compliance with financial reporting standards, and conducting financial analysis are all essential to running a successful eCommerce venture. However, these tasks can be complex and time-consuming, leading to potential errors and setbacks.

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Contractor Business Systems Series: Part 8 – Navigating Business Systems Audits and Reviews

Cherry Bekaert

In this eighth episode of Cherry Bekaert’s podcast series on Contractor Business Systems, Brendan Halloran , a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), is joined by Roy Rushing , a Manager in the Firm’s GovCon practice and a former Contracting Officer with various federal agencies, to talk about navigating Contractor Business Systems a

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A Quick Look: Canopy AI

Canopy Accounting

Modern Practice Management isn't modern without AI. In just the first 6 months of 2023, AI improvements have changed lives, made waves, and continue to amaze us.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

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.

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Here's 8 More Apps from the QuickBooks App Store

Insightful Accountant

I told you we'd have more apps for you. Our 'App Aware: Exhibit Hall' is featuring eight more apps you'll find in the QuickBooks App Store. From accounting accuracy to sophisticated analytic reports, we have more to see in fewer steps.

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PwC Sold Off Its Scandal-Plagued Government Consulting Business For 67 Cents

Going Concern

That headline is not an exaggeration, they really did. Technically it was $1 AUD. Yesterday’s news cycle was quickly dominated by news that KPMG US would be slashing its workforce by 5% but we would be remiss not to remind everyone that while us Americans were blissfully snoozing away on Sunday night, PwC Australia sold off its poisoned consulting business.

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Breaking Bad (Actors): How businesses can overcome compliance struggles

Accounting Insight

In the past year, there have been notable transformations in the compliance sector. The financial services industry has experienced increased regulatory oversight, resulting in regulators imposing unprecedented fines on firms in 2022. As a result, companies are facing significant difficulties in adhering to compliance regulations due to the immense pressure to meet the ever-changing standards.

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FASB Plans Changes to Acquired Financial Asset Reporting

CPA Practice

The Financial Accounting Standards Board (FASB) is looking to improve the accounting treatment for acquired financial assets that fall within the board’s current expected credit loss (CECL) standard , which was issued in 2016. The reporting of financial assets acquired through a business combination or asset acquisition has been an area of CECL that has concerned investors, banks, and other stakeholders for several years.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

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.

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Financing Capital Projects with the Use of New Markets Tax Credits

Cherry Bekaert

This course is designed to detail the New Markets Tax Credit program and how its unique design has helped non-profits, manufacturers, developers, and business owners gain access to a low-cost source of capital to solve a portion of their capital needs while creating significant community and economic impact in distressed areas. The course will help identify all areas of funding a capital project and the steps necessary to achieve success with the many nuances of the program.

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PCAOB Looks to Add Rules for Auditors on Technology-Assisted Analysis

CPA Practice

A rules proposal issued by the Public Company Accounting Oversight Board (PCAOB) on June 26 addresses aspects of designing and performing audit procedures that involve technology-assisted analysis of information contained in electronic format. The proposal includes changes to update aspects of AS 1105, Audit Evidence , and AS 2301, The Auditor’s Responses to the Risks of Material Misstatement.

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Beware the new VAT late submission penalties

Inform Accounting

A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late submission penalties and late payment penalties. Here we look at the penalty regime for late returns. Late VAT returns The late submission penalty regime kicks in whenever a VAT return is filed late. It applies regardless of whether VAT is owed to HMRC or whether the business is reclaiming VAT back from HMRC.

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Why Independent Loan Reviews are Necessary for Credit Risk Analysis

Anders CPA

Following a long cycle of economic prosperity and low-interest rates, lenders are facing new challenges, from the accelerated shift to remote work to the unprecedented speed of rising interest rates and high inflation. Lower office occupancy rates, higher costs of borrowing and inflation will affect future property valuations, borrower cash flow and customer demand.

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Doing More With Less: The Modern Finance Miracle

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.

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14 biz dev mistakes I wish accountants could avoid

Mark Lee

A journalist once asked me “What is the worst mistake accountants can make when they are trying to ‘close’ a prospective client?” Normally I have prepared for the most likely questions I will be asked when I am being interviewed. This one was not on my list as it was not closely related to the main topics we had been discussing. Still, I had to find a reply.

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Latest GOP Tax Package Includes a Bonus ‘Guaranteed’ Standard Deduction

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) Not long after Congress averted the debt limit crisis through bipartisan legislation signed by President Biden, Republicans in the U.S. House of Representatives have proposed $237 billion in tax cuts. As Kiplinger reported, the House GOP tax cut package is a trio of bills covering a broad range of potential tax changes, including a temporary, bonus standard deduction called the “guaranteed deduction.

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