Wed.Feb 08, 2023

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Execs Expect Increase in Cyber Attacks Aimed at Accounting Data in 2023

CPA Practice

Nearly half (48.8%) of C-suite and other executives expect the number and size of cyber events targeting their organizations’ accounting and financial data to increase in the year ahead according to a new Deloitte Center for Controllership poll. Yet just 20.3% of those polled say their organizations’ accounting and finance teams work closely and consistently with their peers in cybersecurity.

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Los Angeles Tax Services

MyIRSRelief

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations. In this article, we will delve into what these terms mean, why they are important, and how to choose the right professional to help you.

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What To Expect From an ERC Audit?

Withum

The rising popularity of the employee retention credit (ERC) has reached boy band status. You’ve heard of it on the radio, seen it on TV, and likely even discussed it with your friends. But as with any popular tax credit or deduction, the IRS is sure to be close behind. We’ve written about IRS audits rolling out last July, and the IRS followed up our article with a warning to taxpayers regarding third-party promotion of improper ERC claims.

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AICPA Sends Tax Proposals to Lawmakers

CPA Practice

T he American Institute of CPAs (AICPA) has sent to members of the House Ways and Means Committee and Senate Finance Committee its 2023 Compendium of Tax Legislative Proposals – Simplification and Technical Proposals , which outlines AICPA’s positions on a number of legislative proposals that are directly related to changes to the tax rules and can be readily addressed.

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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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Xero and Stripe Help Small Businesses Get Paid Faster

Insightful Accountant

Stripe and Xero are expanding their partnership to help small businesses globally get paid faster. Murph provides the details.

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EY OMPs in Philadelphia and Kansas City Have a Food Wager on Super Bowl LVII

Going Concern

The last time we wrote about EY and the Super Bowl it was regarding the firm ’s cringey “Question Everything” ad— loved by then-U.S. chair Kelly Grier —that aired two years ago during Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs. The Chiefs are back in the Big Game this Sunday against the Philadelphia Eagles, and the EY offices in both of those cities have something fun going on—and it involves food (no, not pizza): Hopefully Burkavage and his gang in Philly have a

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More Trending

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10 Accounting Trade Shows to Attend in 2023 | Canopy

Canopy Accounting

2023 is here and we can already tell it’ll be a great one for networking, especially when it comes to events. Here are 10 accounting conferences you should be aware of in 2023.

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Don’t File Your Returns Yet, IRS Tells Millions of Taxpayers

CPA Practice

By Leada Gore, al.com (TNS) The IRS is telling some people to wait to file their 2022 tax return, a group that could represent millions of taxpayers. The issue comes with stimulus payments paid by individual states in the last year. A host of states, including California , Georgia, Florida and Hawaii, have sent stimulus payments or rebates to residents in recent months.

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10 Accounting Trade Shows to Attend in 2023 | Canopy

Canopy Accounting

2023 is here and we can already tell it’ll be a great one for networking, especially when it comes to events. Here are 10 accounting conferences you should be aware of in 2023.

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CPA Diversity Report Explores the Barriers to Minority Advancement in the Profession

CPA Practice

Acknowledging that a lack of diversity, equity, and inclusion (DEI) is a long-standing issue in the accounting profession, the Illinois CPA Society (ICPAS) and its charitable partner, the CPA Endowment Fund of Illinois (CPAEFI), recently conducted research into what minorities are encountering when entering and advancing in the profession. The findings of this research are being presented in the new 2022 Insight Special Feature, “A CPA Diversity Report: Uncovering the Barriers to Success.

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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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3 Ways to Guide the Swell of Entrepreneurs in 2023

Insightful Accountant

Intuit QuickBooks Partners Segment's Jeremy Sulzmann offers advice you can pass along to help guide today's entrepreneurs.

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Amazing Apprenticeships unlocks the power of apprenticeships for small businesses

Xero

In honour of National Apprenticeship Week , we spoke with Anna Morrison, the founder of Amazing Apprenticeships , a leading organisation in the education sector, working with schools, colleges and businesses of all sizes to tackle misconceptions and promote the benefits of apprenticeships. Starting out Bucking a family tradition of attending university, Anna leapt into the world of work with a temp job as a college receptionist, before rising through the ranks to take charge of employer-facing

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Claiming Employee Retention Credit Retroactively: Extended Deadline and More Details

Patriot Software

Think it’s too late to take advantage of the Employee Retention Credit? Think again. Employers now have until 2024 (and in some cases, 2025) to claim the credit retroactively. So, how do you know if you qualify for the credit? And, what are the steps for claiming Employee Retention Credit retroactively?

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Accounting Firms Have Begun to See Mexico As a Goldmine for Accounting and Finance Talent, Says Guy

Going Concern

Max Tokarsky — whose Twitter bio reads: “We can help your company grow by augmenting your U.S. team with Ivy League class, bilingual professionals based in Mexico” — has written a piece for Forbes about the current outsourcing trend from his perspective as a guy who is helping companies grow by augmenting their U.S. team with professionals based in Mexico.

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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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The Science Behind Successful Business Management

GrowthForceBlog

8 min read How does one go from being an employee to becoming a supervisor? How does a marketing expert, engineer, or craftsman start hiring employees and then transform themselves into managers of their own businesses? How do people already working in leadership roles become more effective managers?

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The Largest Accounting Firms in Portland, Ranked by Number of CPAs Working There

Going Concern

Been a while since we’ve ranked anything, thankfully Portland Business Journal came in clutch today and gave the world a good old fashioned ranking of Portland accounting firms. The full list of 30 firms costs $30 and we don’t have money like that so we’re looking at the five we can see for free. There’s a note at the top that “information was obtained from firm representatives through questionnaires and could not be independently verified by the Portland Business J

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Identifying Complete Leasing Populations for SFFAS 54 Implementation

Cherry Bekaert

Stay Connected With SFFAS 54, Leases, effective for fiscal years beginning on or after October 1, 2023, federal agencies should start to identify their leasing populations and consider how their leasing transactions must be accounted for on the balance sheet. Danny Martinez , Government & Public Sector Accounting Advisory Lead, sat down with Richard Hart , Senior Audit Manager, to discuss this second of four steps that federal agencies should follow in their SFFAS 54 implementation process.

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Here is Why SECURE Act 2.0 Matters for Those Retiring Soon

CPA Practice

By Jessi Chadd, CFP, The Kansas City Star (TNS) On Dec. 23, 2022, Congress passed the much-anticipated SECURE Act 2.0 as a follow-up to the Setting Every Community Up for Retirement Enhancement Act (SECURE) that was passed in December 2019. Below you will find a summary of the most significant changes. Please note that most changes are set to go into effect in 2024 or later.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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How To Take Advantage of Pass-Through Entity Tax in North Carolina

Cherry Bekaert

Stay Connected Following other jurisdictions that created a workaround from new requirements in the Tax Cuts and Jobs Act of 2017, North Carolina first enacted their pass-through entity tax (PTET) election through North Carolina Bill 105. These elections became available to businesses on January 1, 2022. Businesses operating as partnerships or S Corporations and filing a Federal Form 1065 or 1120-S, are potentially eligible to take advantage of the North Carolina PTET election.

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Decline in newly qualified accountants cause for concern in UK accounting industry

Accounting Insight

New IRIS Software Group industry analysis reveals businesses must be vigilant when choosing their accountancy firm in 2023 The number of new small accountancy firms and bookkeepers in the UK has boomed since 2018 despite there being fewer qualified accountants joining the industry than since 2016, new analysis from IRIS Software Group (IRIS) reveals.

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Show some love to your customers this Valentine’s Day

Reckon

Get some love flowing for your customers this Valentine’s Day! Festive or ‘event’ days like Valentine’s Day represent a great opportunity for a sales and marketing push to boost your bottom line and keep your loyal customers happy. You don’t have to be selling flowers and chocolates to show some love to your customers and make the most of Valentine’s Day.

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Maintaining Internal Control Processes and Procedures During Turnover in Local Government Agencies

LSLCPAs

High Turnover in Your Local Government’s Financial Department? These days, many local governments financial departments’ biggest challenges are being understaffed + high turnover. Maintaining internal control processes and procedures during these high stress periods is critical to your current staff’s workflow, mindset, and overall department stability.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Is an Outsourced Bookkeeper needed for your business?

Basis 365

Start-ups and small businesses face many challenges. One of them is financial management. Unless you have a team member with a solid bookkeeping or accounting background, you'll likely be delegating bookkeeping services to someone who may not be as experienced or trying to do it yourself. Two significant risks come with this approach: Taking on the role of a bookkeeper can take time away from core tasks such as customer building and fulfilling orders.

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Retail Imports Forecast to be Lowest in 3 Years

CPA Practice

Import cargo volume at the nation’s major container ports is expected to drop to nearly its lowest level since the beginning of the pandemic this month, according to the Global Port Tracker report by the National Retail Federation and Hackett Associates. “With the U.S. economy slowing and consumers worried by rising interest rates and still-high inflation, retailers are importing less merchandise,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.

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Business Tax Deadlines for 2023 to Put on Your Calendar (+ Charts)

Patriot Software

It’s that time of year again when tax filing deadlines bear down on small businesses across the country. Don’t get caught off guard this year. Read on to learn all about the deadlines for taxes in 2023.

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Oklahoma Man Pleads Guilty to Employment Tax Scheme

CPA Practice

An Oklahoma man pleaded guilty yesterday to willfully failing to pay employment taxes withheld from his employees’ wages. According to court documents, Donald E. White was the president and owner of Power Utility Services, Inc., in Adair, Oklahoma. From January 2010 through December 2017, White exercised control over the business’s affairs by (1) tracking the hours worked by employees, (2) directing the issuance of weekly paychecks to employees, (3) directing the issuance of Forms W-2 to emplo

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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Padgett & Padgett, PLLC CPA Wants to Know: Got a Business Exit Strategy?

SkagitCountyTaxServices

The big day is almost here. No, not tax day. (Which is on April 18th this year — and you should be thinking about that now and start by grabbing a time on our calendar: app.acuityscheduling.com/schedule.php?owner=19530343 ) I’m obviously talking about the Super Bowl. And maybe you’re not paying attention because you don’t really care about football, but here’s why you should… The weeks leading up to the Super Bowl — and of course, the event itself — mean big money for not only the NFL but

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IRS Chief Counsel’s Office Has Open Tax Attorney Spots It Wants to Fill

CPA Practice

The IRS’s Office of Chief Counsel posted “Help Wanted” signs today, as it is seeking additional tax attorneys to help enhance the taxpayer experience and address complex noncompliance. “We’re immediately seeking motivated attorneys to accomplish this highly challenging work,” William Paul, principal deputy chief counsel/deputy chief counsel (technical), said in a written statement.

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Achieve Business Growth Using Your Caveman Brain with Dr. Jean Oursler

Summit CPA

The Virtual CPA Success Show: Episode 73 In this episode, our host, Jamie Nau, Summit CPA's Director of Virtual CFO, and Jody Grunden, Partner at Anders CPAs + Advisors, discuss Caveman Brain® with Dr. Jean Oursler, The Results Queen®. Dr Jean is the creator of Caveman Brain Business Growth System, which helps business owners with new business development.

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Andersen Expands Presence in SoCal, Adds New Offices in Des Moines and Pittsburgh

CPA Practice

Following another strong year of aggressive growth, Andersen , a global provider of tax, valuation, financial advisory and related consulting services, has expanded its presence in Orange County, Calif. and established new offices in Des Moines, Iowa, and Pittsburgh, Pa. Andersen has increased its ranks by a total of 45 professionals in the U.S. as the partners and professionals from Rickmeyer & Associates in Irvine, Calif.; Vertical Advisors in Newport Beach, Calif.; Hamilton Juffer & A

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.