Thu.May 19, 2022

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Caseware

RitaKeller

“To make an embarrassing admission, I like video games. That’s what got me into software engineering when I was a kid. I wanted to make money so I could buy a better computer to play better video games – nothing like saving the world.” – Elon Musk. I am posting this because Caseware was one of the products that enabled our firm to go completely paperless many, many years ago.

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States with local economic nexus - a review

TaxConnex

Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them. Local sales are becoming an increasing burden for online sellers as cities, counties and towns nationwide constantly tinker with their own sales taxes and other jurisdictions create new economic nexus rules. Accurately collecting, reporting and remitting is a major, ever-changing challenge for online sellers.

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Trending Sources

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Lockstep® Announces World’s First Shared Inbox Designed for Accounting

Lockstep

Patent-pending Email and Accounting Software Integration Revolutionizes and Streamlines Payments and Month-end Closing Workflows. Seattle, WA – May 19, 2022 — Lockstep® , the leader in connected accounting, today announced the launch of Lockstep Inbox , the first-ever shared inbox for accounting teams. An industry first, Lockstep Inbox is a free solution that streamlines accounting workflows between companies such as onboarding, invoicing, disputes, payments, and reconciliation.

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New AICPA chair pledges to 'open doors, broaden horizons'

Accounting Today

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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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Performing Xero Reporting Using a Modern Excel Add-in Solution

Acterys

Excel is still a favorite for reporting in relation to cloud-based applications like Xero in the accounting space. It is predominantly driven by widely available knowledge, flexibility, and options for adding custom calculation options. The beauty of this productivity tool is that exporting data to Excel is simple and straightforward, knowledge is widely available, and the flexibility and ease of adding custom calculations is unparalleled.

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Did You Receive an IRS Notice Regarding Deferred Social Security Tax Payments?

Withum

If you received a notice regarding deferred social security taxes that you partially paid back in December 2021, then you are not alone. The IRS has recently issued CP256V Notices to taxpayers that assert penalties and interest for failure to make proper federal tax repayments relating to Form 941. This article will discuss why the IRS is issuing these notices and how you can respond to get the penalties abated.

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More Trending

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IRS probed hundreds of cases of unauthorized access to taxpayer data

Accounting Today

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Client Service: How Did Your Firm Score This Tax Season?

ThomsonReuters

Unfortunately, businesses often make assumptions about what their clients want. Sometimes they miss the mark, which can lead to misunderstandings, unmet expectations, and potentially dissatisfied clients who eventually take their business elsewhere. “When a firm, or any other business, has been doing things the same way for 10, 20, or 30 years — and it has worked for 10, 20, or 30 years — there are blind spots,” said Greg Pope, Vice President of Marketing at SurePrep.

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How 2022 Global Consumer Trends Could Impact Your Firm | Canopy

Canopy Accounting

Times have changed these past few years, haven’t they? There have been so many differences around the world, not only in our personal lives, but in our professional lives as well. The changing times are impacting everyone, including clients—your clients are reevaluating their needs when it comes to their accounting professionals. Gone are the days of clients sticking with a CPA solely because they’ve been with them for years.

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The PCAOB Ain’t Messing Around No More

Going Concern

After getting rid of the boil on its butt (that boil being ex-chairman William Duhnke ) last June, the PCAOB seems to be feeling pretty good now under the leadership of Erica Williams. And that’s bad news for audit firms. The PCAOB has created new ways of disciplining audit firms and auditors who bend the rules, as the new chair and board members put more of a focus on enforcement and increasing their scrutiny of the guardians of the capital markets.

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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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Create a client service calendar to add value year round

Accounting Today

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Guy Blames Failing the CPA Exam on Why His Clients Got Busted for Bank Fraud and Tax Evasion

Going Concern

Hanlon’s razor states “never attribute to malice that which is adequately explained by stupidity.” Meaning most of the time when someone does something bad, it’s not because they’re a bad person, rather too stupid to know better. Or something. Socially anxious people with victim complexes — who no doubt make up a large portion of Going Concern readership as well as contributors — should read up on the concept next time they’re convinced colleagues

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CFOs plan to cut costs to deal with inflation

Accounting Today

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“Do I grow my business and put on more staff or stay as I am?”

Reckon

“My sole trader clients often have questions about business growth and taking on new staff. I often draw from my own experience as a business owner when advising them. After all, I’ve navigated these very same questions in my own business life.”. While fast-tracking business growth is the aim of the game for many entrepreneurs, expansion often requires bringing on new staff.

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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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And Just Like That, It’s Time to Change Sole Proprietorship to LLC. Here’s How to Do It

Patriot Software

Did you structure your business as a sole proprietorship? Do you want to move beyond your sole proprietorship status? If your business structure just isn’t cutting it, one of your options is to change sole proprietorship to LLC. And here’s the thing—you’re not alone. Although sole proprietorships are the most popular type of entity for […] READ MORE.

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Fifth Circuit Stays Proceedings in Case Vacating Portions of No Surprises Act’s IDR Regulations

ThomsonReuters

Texas Med. Assoc. v. HHS, 2022 WL 542879 (E.D. Tex. 2022); on appeal to 5th Cir., No. 22-40264, Doc. 00516304229 (May 3, 2022). At the request of the IRS, DOL, and HHS, the Fifth Circuit has put a hold on the agencies’ appeal of the trial court case vacating key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).

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Tax Fraud Blotter: Relief rip-offs

Accounting Today

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In-house Accounting Is a Thing of The Past

AccountingDepartment

The days of relying on an in-house accountant are giving way to team-oriented outsourced accounting services. Whether your business has hundreds of employees, is a small startup, or falls in between these extremes, it will benefit from outsourced accounting services. Take a close look at the benefits provided by outsourced accounting services and you will quickly agree this option is superior to attempting to do all the work in-house.

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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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VSCPA launches annual scholarship for Black CPAs

Accounting Today

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What Employees Are Counted for Purposes of COBRA’s Small Employer Exception?

ThomsonReuters

QUESTION: We understand there is a small employer exception to COBRA for employers with fewer than 20 employees. What employees should we count for purposes of this exception? ANSWER: A group health plan is not subject to COBRA for any year if all employers maintaining the plan together employed fewer than 20 employees on a typical business day during the preceding year.

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Caseware rebrands, launches BI tool

Accounting Today

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Bookkeepers vs. Accountants: What Nonprofit Leaders Need to Know

GrowthForceBlog

6 min read. As a mission-focused nonprofit leader, you may have found yourself ignoring worries in the back office, like bookkeeping and accounting, until they simply can't be ignored anymore.

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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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Illinois CPA Society names 2022 Women to Watch

Accounting Today

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Accounting Technology Is at an Inflection Point

Accounting Web

Trends Accounting Technology Is at an Inflection Point.

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Lockstep launches new 'Smart Inbox'

Accounting Today

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Beyond the Numbers

Intuitive Accountant

Sage's Ed Kless goes inside what the movement toward subscription-based accounting means for the industry.

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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.

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Lawmakers urge IRS and Treasury to fix ‘family glitch’ limiting premium tax credits

Accounting Today

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Say Goodbye to Sync to Square and Hello to Connect to Square

Intuitive Accountant

Intuit replaces former the Sync to Square app with new the Connect to Square app.

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2021 Tax Changes

Steve Feinberg

One of the most challenging aspects of owning a business is properly filing your taxes every year—and the changes to the tax code that happened in 2021 have only made things more confusing. That’s why Appletree Partnered with Bankprov.com to help explain what the 2021 changes mean for owners of small and mid-sized businesses when it comes to net operating loss, employee retention credits, PPP forgiveness, and plenty more.

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Smug Smirking Douchebag Leaves Federal Prison Early

Going Concern

Insufferable former Citrin Cooperman client Martin Shkreli is no longer behind bars. From the Wall Street Journal : Martin Shkreli, the so-called “pharma bro” who was widely criticized for raising the price of a lifesaving AIDS drug, has been released from federal prison. Mr. Shkreli departed the Federal Correctional Institution Allenwood Low on Wednesday, according to the Federal Bureau of Prisons.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.