TaxConnex

MARCH 14, 2023

So far this year, multiple states have introduced new exemptions including some on necessities and at least one proposed tax credit on a politically charged kitchen appliance. Among the new laws: Virginia’s sales tax on groceries dropped to 1% from 2.5% starting Jan. 1. Kansas began applying a preferential sales tax rate to groceries; the state sales tax on groceries is scheduled to phase down to 4% this year and 2% in 2024 before hitting zero in 2025.

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South Dakota Sales Tax Kansas 130

BurklandAssociates

MARCH 14, 2023

Protect your startup from the impacts of the next SVB-like crisis by taking these steps. The post Top SVB Lessons For Startups appeared first on Burkland.

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CPA Practice

MARCH 14, 2023

By Hanspeter Misteli Reyes, J.D. , LLM. In a globalized world, it is common for individuals to hold assets outside the U.S. However, U.S. taxpayers are often unaware that there are special reporting requirements for their non-U.S. based assets leading to substantial penalties. This article will provide a general overview of the current reporting requirements for foreign financial assets on the Report of Foreign and Financial Accounts (“FBAR”) and on Form 8938 under the Foreign Account Compliance

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income tax tax return Tax financial accounting 125

Withum

MARCH 14, 2023

The past week has brought great uncertainty to our sector. The sudden collapse of Silicon Valley Bank (SVB) drastically altered the venture capital (VC) landscape – and its impacts on future fundraising and valuations are still unclear. Many startups were caught off guard and spent the weekend reviewing their cash balances and assessing how they would be able to meet their cash obligations in both the short and long term.

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payroll CPA Account accountant 122

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CPA Practice

MARCH 14, 2023

Allegations include stealing identities of accountants, tax preparers, and taxpayers. On March 7, a federal grand jury in Austin, Texas, returned an indictment charging seven individuals with conspiracy to commit mail and wire fraud and other crimes arising out of their scheme to defraud the IRS using stolen identities. The indictment was unsealed on March 13, 2023.

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Tax tax preparation Texas tax return 116

Withum

MARCH 14, 2023

Explore Other Episodes #CivicWarriors #WithumImpact The post Changing Today’s Workforce With Out for Undergrad(O4U) appeared first on Withum.

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Canopy Accounting

MARCH 14, 2023

Happy Pi Day! March 14th is celebrated around the world as Pi Day in honor of the mathematical constant pi (3.14). While mathematicians and scientists celebrate Pi Day with equations and formulas, accountants can join in with your love for numbers. This personality quiz is not only a delicious way to celebrate Pi Day, but it's also a fun way to learn more about your personality as an accountant.

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Account accountant accounted 98

CPA Practice

MARCH 14, 2023

You know your client base, service offerings, and strategy. Can we make technology work better for you and your team? I think so in this year of discussing and rebuilding technology stacks. My colleague Brian Tankersley and I continue creatively thinking for you during tax season while preparing The Technology Lab podcasts and new CPE materials. Think carefully about the areas where you can improve your operations.

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Cherry Bekaert

MARCH 14, 2023

The current expected credit losses (CECL) impairment model applies to a broad scope of financial instruments, including financial assets measured at amortized cost. The new standard is intended to provide a more holistic review of the conditions (past, current and future) that have a potential impact on a company’s collection rate and what should be reserved for anticipated losses.

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auditor accounting and finance accounting standards Finance 96

CPA Practice

MARCH 14, 2023

HR and payroll company Gusto has created a resource hub on its website that contains updated news, information, and advice for its small business customers that used Silicon Valley Bank accounts to fund payroll and other business operations. On the webpage, Gusto says: [The resource hub] includes answers for some of the most pressing and basic questions that need answers, from the fastest ways to set up a new bank account to the ins-and-outs of wire transfers, to what you need to do if you’re a

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payroll Account accountant accounted 98

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.

Going Concern

MARCH 14, 2023

Y’all need to calm down, I’m running out of “angry person” stock photos. With the accountant shortage in full swing and the profession’s talking heads, peanut galleries, unwashed masses, and unelected old white guys in charge discussing ways to ease it, it’s inevitable that we’ll start throwing out some WILD ideas.

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CPA cpas Account accountant 94

Insightful Accountant

MARCH 14, 2023

Okay, this is your opportunity to tell us what you want in the way of content and how you want to receive it. If you have 2 minutes, do we have a survey for you.

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Patriot Software

MARCH 14, 2023

Dear Patriot Software Customers, Payroll and payroll-tax dollars are securely flowing again at Silicon Valley Bank (SVB). Patriot is in good shape.

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payroll tax payroll Tax 78

Insightful Accountant

MARCH 14, 2023

Cherry Bekaert joins Accounting+ to help advance diversity, equity and inclusion within the profession.

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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

Technology

ThomsonReuters

MARCH 14, 2023

Checkpoint Edge is an AI-powered tax and accounting research tool that allows you to search for up-to-date information on what needs to get done, how it should be approached, how it needs to be documented, and the review process. When clients call, they expect you to have the answers. Rather than hiring and waiting for information back from outside consultants or risking misinformation from junior staff, go straight to where over six hundred expert contributors have authored millions of pieces o

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Going Concern

MARCH 14, 2023

Mere hours ago, Baker Tilly announced via news release that Alan Whitman has resigned from his role as CEO and chairman of the board effective immediately. This is a surprise to say the least, Baker Tilly has been making a lot of big moves in the past year or so , honestly we expected an explosive merger or another celebrity endorsement coming down the pipe, not the abrupt exit of a leader who we rarely hear anything negative being said about.

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cpa firm CPA 57

CPA Practice

MARCH 14, 2023

BILL, a maker of financial automation software for small and midsize businesses (SMBs), has launched four new offerings for businesses impacted by the Silicon Valley Bank (SVB) events. As part of its ongoing commitment to stand with impacted businesses and support SMBs, BILL is expanding its offerings to help them stay fully operational. With these new programs, BILL is helping businesses not just complete payments, but also move and manage funds, and quickly access credit so they can confiden

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LSLCPAs

MARCH 14, 2023

Building a successful business over time takes consistency and dedication. Your team and day-to-day accounting operations are working well to deliver the business’s current level of success. Now you are ready to level up! Working with a client advisory accountant and outsourcing accounting will fill in the gaps and provide the extra support for you.

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Account accountant accounted cpas 52

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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.

Technology

CPA Practice

MARCH 14, 2023

The American Institute of CPAs (AICPA) has named Mark Crowley, CPA, chairman of the Financial Reporting Executive Committee (FinREC). Crowley is national office managing director at Deloitte & Touche, LLP. FinREC serves as the AICPA’s official voice on financial reporting matters and develops nonauthoritative industry-specific accounting guidance.

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accounting standards income tax cpas CPA 52

Withum

MARCH 14, 2023

As businesses continue to generate vast amounts of data, it is becoming increasingly challenging for organizations to make informed decisions without the help of advanced data analytics tools, like Power BI. In this blog, I will discuss an important Power BI tip – integrating artificial intelligence with Power BI. As a consultant, I have worked with numerous organizations that use Power BI to analyze data; however, I have noticed that many of these companies are not fully utilizing the pow

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Technology 52

CPA Practice

MARCH 14, 2023

CliftonLarsonAllen LLP, the eighth largest accounting firm in the United States, has announced a new summer internship program for high school students. This paid program provides students with the opportunity to gain real-world experience in accounting, tax, wealth management, digital, and consulting services. A strategic relationship between CLA and Future Business Leaders of America, Inc.

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accounting internships Account accountant accounted 52

Cherry Bekaert

MARCH 14, 2023

For tax years beginning in 2022, Internal Revenue Code Section 174 (Sect. 174) requires taxpayers to capitalize and amortize specified research or experimental expenditures. Taxpayers can follow the Internal Revenue Service (IRS) guidance to adopt this new capitalization/amortization method by filing a statement with their 2022 tax returns. Sounds like a simple accounting method change, but there are many questions left open for taxpayers to navigate.

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tax return Tax Account accountant 52

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Menzies

MARCH 14, 2023

Menzies LLP - A leading chartered accountancy firm. Following Brexit, to make Britain more attractive to innovative companies and tech entrepreneurs, the UK government has been promising fiscal changes. With the pandemic-related spending causing increased levels of public debt and the impact of the war in Ukraine; this has undoubtedly slowed things down.

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Cherry Bekaert

MARCH 14, 2023

Author: Janet Golonka , Director, Risk & Accounting Advisory Services The March issue of the Regulatory Compliance Digest features a summary of the latest on the HMDA Final Rule, the CRA annual threshold adjustments and the annual Regulation Z threshold adjustments. In addition, the Digest summarizes the latest compliance updates that may impact your institution.

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accounting and finance cpa firm Finance Manufacturing 52

Anders CPA

MARCH 14, 2023

Kansas City has amended an ordinance which added extra steps to the earnings tax refund process for non-resident taxpayers. The previous ordinance was added in March 2022 and required that non-resident taxpayers file a claim against the city in small claims court in order to apply for an earnings tax refund. Many taxpayers and even some tax professionals called the updated ordinance “unworkable” as it placed a huge burden on both taxpayers and city employees.

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Ryan Lazanis

MARCH 14, 2023

If you’re curious how much your firm is worth and how to increase your firm’s valuation, you’ll want to read this article on how to value a CPA firm. I’ll also draw on my personal experience from selling my online accounting firm just a few years ago. Let’s go! Table of Contents How Do You Value an Accounting Practice? The 13 Factors Influencing the Value of a CPA Firm Marketing Strategy Growth Rate Size of the Firm Location Composition of Client Base The Quality of

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cpa firm CPA accounting and finance accounting firms 52

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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.

Finance

CPA Practice

MARCH 14, 2023

Alan Whitman has resigned from his role as chief executive officer and chairman of the board of the national CPA firm Baker Tilly US, LLP after 20 years of service. Jeff Ferro, regional managing partner, has been appointed interim chief executive officer and Jeffrey DeYoung, managing partner, has been appointed chairman of the board of partners. “In just five years, we at Baker Tilly have doubled our workforce, expanded our footprint nationally and internationally with 19 successful combinations

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cpa firm CPA 52

Withum

MARCH 14, 2023

As a longtime member of the Central Florida business and higher education communities, Withum is honored to be a financial supporter and platinum sponsor of the Kenneth G. Dixon School of Accounting Academic Excellence Awards Scholarship Program at the University of Central Florida (UCF). On Friday, February 24th, Russell Goldberg, partner-in-Charge of the Orlando office , awarded $8,500 in scholarships to five students at the UCF Spring Banquet.

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Cherry Bekaert

MARCH 14, 2023

Cherry Bekaert’s State and Local Tax team shares the latest pass-through entity tax (PTET) election updates. PTET elections create ample cash flow opportunities that many businesses are eligible to take advantage of, but it comes with intricate rules to discern. Learning Objectives: Background of the SALT cap and PTE taxes PTET election updates Eligibility for PTET elections Learn more about our State & Local Tax Services Questions?

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Accounting Insight

MARCH 14, 2023

Accountex London are excited to announce that Mental Health UK are their official charity partner for the 2023 event. Mental health and wellbeing are top of the agenda at this year’s show, and the partnership will allow for visitors to speak to the Mental Health UK team in person, have their questions answered and find the right support. Mental Health UK have been supporting people with their mental health for over 50 years.

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"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.

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