Tue.Aug 15, 2023

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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

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TIGTA highlights IRS security weaknesses

Accounting Today

A new report says the service isn't effectively managing or resolving many of its remediation efforts.

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IRS Gives Taxpayers New Faxing Option to Request Relief on Late International Forms

CPA Practice

Taxpayers who are not under examination by the IRS now have “an easier, more efficient way” to submit electronic requests for relief when they have to submit international tax documents after a deadline, the tax agency said on Aug. 11. That electronic option is via a fax machine. “Across the IRS, our teams are working to make improvements to help people, and this electronic option removes a step in the paper process that can help save time and ease burden on international taxpayers as well as th

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Withum interns volunteer 225 hours for National Intern Day

Accounting Today

In recognition of National Intern Day, interns from Top 100 Firm Withum volunteered at local organizations and nonprofits across the United States.

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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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Professionals on the Move – August 2023

CPA Practice

Professionals on the Move is a round-up of recent promotions and staffing announcements around the profession. Intuit QuickBooks Welcomes Karla Uribe, Serving the Accountant Community as the New Director of Product Management, Partners Segment Intuit QuickBooks recently announced that Karla Uribeis the new Director of Product Management, Partners Segment.

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The importance of community football

Xero

When I moved back to Melbourne in 2017 after 15 years living overseas, I joined the Glen Eira football club as a volunteer because it’s a great way to meet people and it’s really rewarding. At the club we live by our motto which is “football for all”. We have wheelchair football, we have all abilities football, we have walking football, we have Go SoccerMums for women to have a kick around while their kids are at training to promote staying active.

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More Trending

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Tax Implications of Debt Cancellation, Foreclosures & Short Sales

Cherry Bekaert

Often, after much negotiation, debt may be reduced on various projects to realign debtor and equity holders’ interests in properties. Property owners restructuring debt should be wary of tax consequences that could occur. Debt cancellation, foreclosures and short sales can often increase tax liability for cancellation of debt income. On this episode of the Tax Beat Podcast, Brooks Nelson , Partner and Strategic Tax Leader, and Sarah McGregor , Tax Director, discuss the tax cost and poten

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IRS wants to improve dispute resolution

Accounting Today

The service is looking for ideas to make its current ADRs better and help them reach more people, and to create new ones, if they're needed.

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The Importance of Budget Reports

GrowthForceBlog

7 min read Budgeting and budget reporting are integral parts of running a successful business. At face value, budgeting might seem like a mundane, unimportant task, but it's absolutely vital to business operation and strategy.

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SEC Addresses Some of IIA’s Recommendations in Cybersecurity Risk Management Rule

CPA Practice

The Institute of Internal Auditors, which promotes internal audit standards, certifications, education, research, and technical guidance worldwide, has commented on the U.S. Securities and Exchange Commission (SEC)’s issuance of their final rule on cybersecurity risk management, noting the positives associated with greater transparency and accountability, while pledging to continue to work with the SEC to address additional concerns.

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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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PwC Audit Client Gets Added to the List of Companies That Have to Send Out Letters to Customers About a Data Breach

Going Concern

Puerto Rico’s largest bank filed a data breach notification with the Maine Attorney General on August 14 related to the MOVEit ransomware attack that has so far snagged Deloitte, EY, and PwC. For once KPMG is thrilled to be excluded from the Big 4. EY client Bank of America sent a similar notice to its customers last week , that notice did not go into detail as to the why an accounting firm would have had access to this customer information like Popular’s does. 82,217 Banco Popular c

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Increase in Retail Sales Beats Forecasts

CPA Practice

By Reade Pickert – Bloomberg News. (Via TNS) U.S. retail sales rose in July by more than forecast, suggesting consumers still have the wherewithal to sustain the economic expansion. The value of retail purchases increased 0.7% in July after upward revisions in the prior two months, Commerce Department data showed Tuesday. The upbeat figure reflected increases in a variety of sales categories, including sporting goods stores, clothing outlets and restaurants and bars.

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Top 5 Benefits of an ERP with goVirtualOffice

AccountingDepartment

At AccountingDepartment.com, we strive to provide our clients with the top software solution options and work with some of the best technology partners out there. When it comes to implementing NetSuite, we turn to goVirtualOffice and offer their NetSuite implementation services to our clients.

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How to Offer Registered Agent Services

CPA Practice

In business formation, one thing is constant across all 50 states and the District of Columbia: business owners choosing to incorporate must select a registered agent (RA) to handle the acceptance of service of process for their companies. However, the specifics of which business structures require an RA and who can fulfill this role differ from state to state.

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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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Teaming for a Highly Distributed and Renewable Grid of the Future

Cherry Bekaert

Cherry Bekaert and PXiSE Energy Solutions, a Yokogawa Company and innovative software-based energy grids control company in San Diego, CA, have joined forces on product development work that will soon bring cloud-native software to market and drive the digital transformation of the grid. PXiSE enables utilities, campuses and communities to hit their clean energy goals by empowering grid operators to manage unlimited renewables and distributed energy resources (DER), while providing safe and reli

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Enrollment Open for Prestigious Executive Management Course on Sustainable Financial Strategy

CPA Practice

Registration is now open for an executive management course, jointly developed by Saïd Business School at the University of Oxford and AICPA & CIMA, that’s designed to give accounting and finance professionals the skills necessary to lead their organization’s response to sustainability issues. The course, ESG and Sustainable Financial Strategy, will give participants a detailed understanding of environmental, human capital and governance concepts, reporting frameworks and assurance considera

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FinCEN Beneficial Ownership Information Reporting Rule

KROST

Starting January 1, 2024, business owners will face additional reporting requirements enforced by the Financial Crimes Enforcement Network (FinCEN), in compliance with the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) Reporting Rule. On September 29, 2022, FinCEN issued a final rule requiring specific companies to report the BOI effective January 1, 2024.

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Areas in the U.S. Where Inflation is Causing Property Taxes to Increase the Most

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Some states have laws that allow inflation to dictate higher property taxes. That’s because revenue from property taxes is used to fund police and fire departments, maintain roads, and other initiatives that benefit the public. And when inflation is high, like it is right now, these initiatives require more money to operate.

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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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Tax Strategy: RMD changes for 2023

Accounting Today

Two notices from the IRS offer guidance on the new rules regarding minimum distribution requirements from the SECURE Act 2.0.

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Get started with your own free Starling Bank account

Inform Accounting

Founded in 2014 by Anne Boden, Starling was the UK’s first mobile bank offering super-fast setup, beautifully simple money management and 24/7 support, all with no monthly fees.

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In the blogs: Why, oh why?

Accounting Today

Buy-ins are changing; faxing the IRS; Barbie and sales tax; and other highlights from our favorite tax bloggers.

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Why Businesses Should Use QuickBooks Enterprise for their Accounting?

Ace Cloud Hosting

In the ever-evolving world of finance, where data integrity and precision are non-negotiable, QuickBooks Enterprise (QBES) emerges as a top-notch accounting software for accountants and businesses that can stand the.

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8 Pillars of Leadership Development

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.

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Whats New in QBO: Fixed Asset Management in QBO Advanced

Insightful Accountant

Murph provides a glimpse into the new Fixed Asset Management features, which are now a part of QuickBooks Online Advanced.

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Boomer Consulting, Inc. Announces Details of Next Boomer Circle Summit

CPA Practice

Boomer Consulting, Inc., a provider of peer communities, thought leadership and unique consulting services for the accounting profession, has announced the next evolution of the Boomer Circle Summit. The Boomer Circle Summit will bring together members of all of Boomer Consulting’s peer communities. These leaders from across the accounting profession will have a unique opportunity to discuss top challenges and opportunities and help create alignment across all areas of an accounting firm: leader

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What Resorts Should Know Before Accepting Digital Payments

Withum

In an increasingly cashless society, digital payments have become the norm for businesses across various industries. Resorts, with their focus on providing exceptional guest experiences, are no exception. Accepting digital payments can offer numerous benefits to resorts, including improved convenience, enhanced security, and increased customer satisfaction.

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Half of Businesses Aren’t Prepared for Impact of ESG Risks

CPA Practice

Businesses are failing to act on the increasing enterprise risks brought about by ESG and climate risk, revealed in its new global study of 200 senior leaders working across financial and industrial sectors. That’s according to research by Verdantix. The research reveals that 52% of firms say climate related threats such as climate risks to physical assets or energy transition risks represented very material risks to their firm over the last 12 months, while 37% say their physical operations wil

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Protect What Matters: Rethinking Finance Ops In A Digital World

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.

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Sorry EY Australia Auditors, No Raise For You This Year

Going Concern

EY continues to redefine the meaning of “better working world,” this time by way of salaries for audit staff in financial services. Better for whom we aren’t quite sure, not the people receiving these salaries. AFR wrote about EY Australia audit salaries this morning (their morning): The starting pay for most auditing staff in parts of EY’s financial services division will not increase this year, at the same time the firm has told clients that “significant wage inflation” had f

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Two Honored for “Bridging the Gap” at Boomer Technology Circles Summit

CPA Practice

Two individuals took home “Bridging the Gap” awards after being honored on August 15 by Boomer Consulting, Inc. during the 2023 Boomer Technology Circles Summit in Kansas City, Missouri. These awards honor firms and individuals within the accounting profession that excel in aligning technology and firm management. Kamran Faruqi, Adams Brown [link] Kamran Faruqi, MBA, Chief Information Officer at Adams Brown, was presented with the 2023 Bridging the Outstanding Technology Leader award.

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PwC Australia chases 'unprofessional' partner

Accounting Today

Despite a ruling that said the firm didn't follow due process in firing him, it is determined to take action against a partner and others involved in a leaking scandal.

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CPE Webinar September 12, 2023: Cybersecurity for the Tax Practitioner

CPA Practice

Date: Tuesday, September 12, 2023 Time: 3 PM EDT / 2 PM CDT / 12 PM PDT / 7 PM GMT Sponsor: Drake Software Duration: 1 Hour Receive 1 hour of free CPE credit for participating in this live webinar. Already registered for this webinar? Click here to log in. Understand your legal and regulatory obligations, develop adequate policies to secure client data and protect your practice.

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How to Set Better OKRs and Drive Results

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.