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?

Sales 130
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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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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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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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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.

Account 98
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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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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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Finding the Right Outsourced Client Accounting Services for Your Business

AccountingDepartment

Making the decision to turn to outsourced client accounting services can be a great way to save time and resources for your business. However, finding a trustworthy outsourcing partner can be a challenge. But how can you be sure you’re choosing an outsourced accounting service you can trust? There are a few characteristics of trustworthy, competent, and reliable accounting services that will help you know the provider you chose is the right one.

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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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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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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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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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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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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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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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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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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.

Account 52
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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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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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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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