Accounting Insight
MARCH 17, 2023
Inflation leaves less disposable income for businesses and individuals, and a looming recession leads to less spending. Around one in five (22%) UK business owners said they weren’t confident they would survive a recession within the next 12 months, with 47% in fear of bankruptcy at some point in the near future. To address this, many small business owners have the same reflex: raise prices.
CPA Practice
MARCH 17, 2023
By Christopher Zara, Fast Company (TNS) We just celebrated National Women’s Day, and we’re still in the middle of Women’s History Month. But what most women want isn’t another day or month—another theatrical pat on the back designed for other people’s comfort. They just want to earn as much as their male counterparts. It isn’t exactly mind-blowing news that women are still earning an average of 82 cents on the dollar compared to men.
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Cherry Bekaert
MARCH 17, 2023
The Cybersecurity Maturity Model Certification (CMMC) is a unified cybersecurity standard for Department of Defense (DoD) acquisitions, aimed at securing the Defense Industrial Base (DIB) supply chain. This standard was updated in 2021 and is now considered “CMMC 2.0.” Defense Federal Acquisition Regulation Supplement (DFARS) Clause 252.204.7021, or the “CMMC Clause,” is currently under review.
CPA Practice
MARCH 17, 2023
By Francois Lacas. “I want to be a CFO.” That’s not something you’ll hear from most five-year-olds when you ask what they want to be when they grow up. A doctor. A musician. A movie star. Maybe a veterinarian or any other dream job from a child’s point of view. When they enter middle school, you’ll hear a few say they’ll go into accounting, but “I want to be a finance major and get an MBA” — not to mention becoming a Chief Financial Officer — just isn’t in their vocabulary.
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Going Concern
MARCH 17, 2023
Minnesota Society of CPAs has sent a message to educators in the state regarding legislation that would introduce an alternative pathway to CPA licensure and the message to these stewards of the next generation of accountants is clear: no one is trying to eliminate MAcc programs. As you should well be aware, MNCPA wants to add another lane to the CPA highway that would offer candidates an option of 120 units of education and two years of experience as an alternative to, but not a substitute for,
Randal DeHart
MARCH 17, 2023
Raising prices can be a sore subject. Many construction business owners like you assume doing so will spell the end of your competitiveness. But by not raising prices, you're simply letting inflation and your suppliers' maintenance of your margins quietly eat away at profitability. The bottom line is that costs will always rise long-term - at least with inflation.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
MARCH 17, 2023
For months, the theatre community has been on the edge of their seat waiting for the finalization of the updated legislation from the UK government regarding the Theatre Tax Relief (TTR). In 2021 the tax relief was raised to 45% and 50% for non-touring and touring productions respectively to help ease the pressures of the COVID pandemic. Those rates were set to reduce to 30% and 35% in 2023 and 25% and 30% in 2024.
ThomsonReuters
MARCH 17, 2023
Accounting has never been known for its “cool factor,” but platforms like Checkpoint Edge are working to change that. The industry is facing significant challenges as more accounting professionals are leaving than joining it. And no, it is not for lack of demand. The work is there and growing, while firms are left struggling to hire and hire quickly.
inDinero Tax Tips
MARCH 17, 2023
Any business that has employees needs to file a form 941. It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. If you’ve got questions about how form 941 works, you’re in the right place.
ThomsonReuters
MARCH 17, 2023
As a trusted advisor to your clients, you understand the importance of having access to credible tax research sources to help you keep pace with today’s complex regulatory environment. This includes both primary and secondary sources of tax laws. Oftentimes, this may be easier said than done given that many of today’s practitioners are so strapped for time considering rising client demands and expectations, as well as staffing constraints.
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.
Menzies
MARCH 17, 2023
Menzies LLP - A leading chartered accountancy firm. The 2023 spring budget has been announced, bringing some good news for the Hospitality industry, with the value of Draught Relief increasing from 5% to 9.2% (relating to qualifying beer and cider) as well as continuation of support for energy bills and incentives to bring more people back to work. This positive news comes at a time when the traditional pub that we all know (and love) is slowly disappearing before our very eyes.
Canopy Accounting
MARCH 17, 2023
Getting paid is how your accounting firm will stay successful — there's no way around it. When it comes to navigating the nuances of getting paid, it's never simple. Here are top three ways to improve the payments process at your accounting firm and ensure that your time equals more money.
Snyder
MARCH 17, 2023
The first step for a business to get paid for the products or services rendered is creating an invoice. While the previous practice was to keep the books manually and get paid in cash, today more and more businesses are taking the shift towards electronic accounting and invoicing to avoid erroneous billing and delayed payments. Minimized processing time and lower associated costs are just the most obvious advantages of invoicing software over paper-based invoicing.
CPA Practice
MARCH 17, 2023
By Matt McKinney, Star Tribune (TNS) The former Minneapolis police officer imprisoned for the murder of George Floyd plead guilty Friday in Washington County District Court to two counts of tax evasion. Derek Chauvin, who appeared for the hearing via Zoom from the Arizona prison where he is serving a 22½-year sentence for killing Floyd and violating his civil rights, was first charged in 2020 along with his ex-wife with underreporting their income.
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
inDinero Tax Tips
MARCH 17, 2023
Any business that has employees needs to file a form 941. It’s due to the IRS on a quarterly basis and is part of your responsibility to withhold and remit payroll taxes. You can file for free through the mail, online for a fee through an IRS approved software provider, or have it done for you by a tax services provider. If you’ve got questions about how form 941 works, you’re in the right place.
CPA Practice
MARCH 17, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA evaluate Valid8 , an evidence-first data platform designed for professionals that includes automated quality control checks and verification procedures to prove that any extracted transaction data can be relied on. Click here to go to the podcast page.
SkagitCountyTaxServices
MARCH 17, 2023
Forward-thinking is a must in business… that goes for your taxes too. And I’m going to dive into what that looks like today. But first, let’s talk about your tax filing. The S corp and partnership filing deadline is coming up (March 15 to be exact). While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon.
Accounting Insight
MARCH 17, 2023
Professional accountants must help drive the migration to sustainable economies and businesses by becoming experts in green finance, according to the latest report from ACCA ‘Green finance skills: the guide’. At a time when access to cheaper capital is more vital than ever to an organisation’s long-term survival, access to green finance can be a lifeline to businesses.
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Wellers Accounting
MARCH 17, 2023
Tom Biggs ACA CTA , on the corporation tax changes and implications for associated companies.
Accounting Insight
MARCH 17, 2023
Most professionals will relate to the double bind of not having enough time to put into saving time. You may have system reviews in place or be evaluating an app, but tangible change could be months away. To pick up some quick wins, we’ll show you how to work more efficiently with your emails, tasks, and clients as well as some advice for maintaining well-being. 1) Take breaks When you’re under a lot of stress you might not be producing the best quality of work that you’re capable of.
Going Concern
MARCH 17, 2023
There’s a lot happening this week. Which YAY because hooooo boy can it get boring around here when there isn’t. First things first, check out what the AICPA is working on and when you’ve had a chance to review their idea, reach out with your feedback if you want. Comments are closed on Footnotes because no one here wants to be moderating comments on the weekend, you are however welcome to message the editor if you have something to say about this or any other story shared here.
Withum
MARCH 17, 2023
I am passionate about Power Platform and very excited about the new Microsoft Power Pages capabilities introduced in the fall of 2022 that extend the reach of the low-code revolution outside the firewall. In this blog, I will explain the new Power Pages, the core features and benefits, and how licenses and overall costs are calculated with specific examples.
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