Mon.Jun 13, 2022

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What you need to know about quarterly updates for Making Tax Digital for Income Tax Self Assessment

Xero

Just under two years sounds like quite a long time. But then time hasn’t exactly flowed to its natural rhythm over the past couple of years. With lockdowns in place, days stretched for an age. Then, days, weeks and months whizzed by in a hurry as pubs, shops and restaurants reopened. Suddenly, it’s mid-2022. How did that happen? . While here may not be the best place to ponder the ebb and flow of time, it is worth bearing in mind when assessing the April 2024 starting date for Making Tax Digital

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Tax dates for your diary till 31 December 2022

Reckon

EOFY 2022 is coming up fast which means tax time is looming…. If you’re a business owner, the ATO requires entities of all sizes to file their tax documentation before 30 June 2022. This means you need to start getting your ducks in a row now. As you may well be aware, each financial year runs between 1 July – 30 June. So, whether you’re a sole trader, SME, or a larger firm, you should be looking to ensure you lodge all necessary documents on time.

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KPMG Will Pay Audit New Hires to Study for the CPA Exam

Going Concern

As I’m sure you’ve heard by now the profession is having trouble recruiting future CPAs. Accounting student numbers aren’t critically low yet but fewer and fewer graduates are taking the CPA exam, an issue that keeps AICPA President, CEO, and 1982 Hank Marino Invitational Winner Barry Melancon’s psychiatrist up at night Googling “effective treatments for insomnia.” This issue is called “ the accounting pipeline problem ” and expect to hear about re

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Ready to Beef up Your Benefits Package? Here’s How to Set up a 401(k) for Your Business 

Patriot Software

Want to claim 401(k) tax credits worth up to $16,500? Ready to attract and retain employees with a better benefits package that lets them save for retirement? If so, you might be interested in starting a 401(k). But to do that, you need to know how to set up a 401(k) in your small business. […] READ MORE.

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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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Uncommon Trusts

KROST

In our last article in this series, we covered the different types of trusts that can be established. In this article, we’ll discuss uncommon trusts that can be utilized. Other Trusts That Can Be Established Blind Trust The trustees of a blind trust manage the assets in the trust without the beneficiaries’ knowledge. The beneficiaries Read the full article.

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A Guide to the Chart of Accounts With Examples

xendoo

Every business should have a chart of accounts. If you’re wondering what exactly that is, we have you covered. We’ll explain everything you need to know and include an example chart of accounts below. Note, if you use Xendoo for your accounting , we can set up and maintain your chart of accounts for you. . What Is the Chart of Accounts? A chart of accounts is a list of all the accounts and financial transactions for your business in one location.

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More Trending

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How to Combat AP's Time-Wasting Tasks

Intuitive Accountant

Corpay's Julia Collins explains why the “we’ve always done it this way” excuse carries very little sentiment these days—and how you can fix it.

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Ask the Expert… Are my kid’s summer camps tax deductible?

DMCL

While the final school bell of the year is music to every kid’s ear, for most parents the end of the school year means it’s time to figure out their summer childcare situation. Day camps, sports schools, overnight camps and in-home care are all great options for ensuring your child is taken care of while out of school, but it’s important to know the limits on claiming any associated expenses as childcare expenses.

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Video: What Is Ignite Spot?

IgniteSpot

What is Ignite Spot anyways? We get asked that question a lot, so this week's video is our attempt to answer it. No accountants, that we know of, were harmed in the making of this film.

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9 Ways Your Small Business Can Get Financially Fit

Basis 365

Every decision you make when you own a small business can significantly impact how it does. A small business must do many things to remain afloat in these times of new companies popping up online and in brick-and-mortar locations. It is vital to monitor every aspect of your company. If you aren't educated, things can spiral out of control. You know as an entrepreneur that you must be prepared for everything.

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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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Do You Need an EIN For Shopify?

Snyder

Tax calculations can be tedious and complicated, and if you’re not careful, your Shopify store might run into legal troubles. To prevent that from happening, we’re here to answer another popular question asked by many new Shopify store owners–do you need an EIN for Shopify? Let’s dive in! What Is an EIN? EIN is an acronym for Employer Identification Number.

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Introducing the Divorce Money Guide

FraudFiles

In case you haven’t heard, I created the Divorce Money Guide to make forensic accounting more accessible to people getting divorced. The Divorce Money Guide is a 10-step online handbook for those in the process of of divorce who suspect their spouse has hidden money or spent it inappropriately, but who are unable to hire a forensic accountant.

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Happiness is a Formula

Intuitive Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp takes a deep dive into Jonathan Haidt’s book, "The Happiness Hypothesis." See why you control your own happiness.

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The worst 401(k) mistake you can make when you switch jobs

Accounting Today

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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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Reporting & Analytics Sponsors at Scaling New Heights (Part 2)

Intuitive Accountant

As we head into the final week ahead of 'Scaling New Heights 2022,' Murph continues his series with a look at Reporting and Analytic App sponsors.

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Elliott Davis and Whitley Penn combine

Accounting Today

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Maddy McIntyre

GBQ

When it comes to leadership, former OSU Buckeye Maddy McIntyre hits it out of the park. Born and raised in San Diego and a seeker of adventures (from surfing to softball!), she shares her latest professional endeavors along with insight on the next generation of leaders. When it comes to leadership, former OSU Buckeye Maddy McIntyre hits it out of the park.

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GASB issues standard on accounting changes and error corrections

Accounting Today

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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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Difference Between a C-Corp and S-Corp

inDinero Tax Tips

Credit: Sean Pollock When it comes down to it, looking at the difference between a C-Corp and S-Corp is a matter of structuring the business properly for tax purposes. Both business tax structures provide reduced personal liability, an important part of running a successful company. While there are other differences, the main difference between a C-Corp and S-Corp is whose income gets taxed.

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Most corporate net-zero targets are weak: report

Accounting Today

Account 98
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Maddy McIntyre

GBQ

When it comes to leadership, former OSU Buckeye Maddy McIntyre hits it out of the park. Born and raised in San Diego and a seeker of adventures (from surfing to softball!), she shares her latest professional endeavors along with insight on the next generation of leaders. When it comes to leadership, former OSU Buckeye Maddy McIntyre hits it out of the park.

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Companies’ climate goals in jeopardy from flawed energy credits

Accounting Today

Account 98
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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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Difference Between a C-Corp and S-Corp

inDinero Tax Tips

Credit: Sean Pollock. When it comes down to it, looking at the difference between a C-Corp and S-Corp is a matter of structuring the business properly for tax purposes. Both business tax structures provide reduced personal liability, an important part of running a successful company. While there are other differences, the main difference between a C-Corp and S-Corp is whose income gets taxed.

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FASB weighs standard on accounting for government grants

Accounting Today

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Please Yourself

RitaKeller

“ You wouldn’t worry so much about what others think of you if you realized how seldom they do.” – Eleanor Roosevelt. “You can’t please everyone.” – Now, that is a common phrase that I have certainly used often in my life and my career. If you are a baby boomer, you might remember the lyrics from a Rick Nelson song titled Garden Party.

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Moving from hours to value

Accounting Today

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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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5 Things You Can Do To Survive the Recession

Snyder

While the e-commerce industry keeps growing throughout 2022, the growth is visibly slowing down. Global uncertainty due to the pandemic and uneasiness caused by the war in Ukraine results in supply chain disruption for manufacturers and retailers. Simultaneously, inflation makes prices go up, negatively affecting consumers’ purchasing power. And while economists don’t predict an immediate global recession yet , they still warn consumers to prepare for more stagflation (a combination of lower gro

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Art of Accounting: Reaching out to Black students

Accounting Today

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Case Study: How Withum Digitized Ke’Aki Technologies’ Invoice Process

Withum

Download a PDF of this case study. Manual Processes to Streamlined Digitization. Executive Summary. Ke’aki Technologies contacted Withum for help with digitizing their accounts payable (AP) invoice approval processes were inefficient and also at risk of losing data. We worked with GSCAN, an Artificial Intelligence (AI)-powered and cloud-based document scanning and capturing solution that integrates with SharePoint Online, to improve the process and go paperless.

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QuickBooks 2022 New Features: All You Need to Know

inDinero Tax Tips

QuickBooks is the 800-pound gorilla of accounting software with regular annual updates. QuickBooks 2022 new features are out, and many of the new features have a big impact on businesses of all sizes. This guide lays out not just QuickBooks Enterprise 2022 new features but also QuickBooks Desktop 2022 new features. Features Waiting for Business Owners In Quickbooks Desktop Plus 2022 QuickBooks Desktop is one of those software platforms that doesn’t get nearly enough attention now as everything

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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.