Basis 365
MAY 4, 2023
Starting and running a business can be both exciting and challenging. As a business owner, you will face numerous decisions that can impact your venture's financial health and success. One key area that requires careful consideration is accounting. Proper accounting is crucial for managing your business finances effectively and making informed decisions.
TaxConnex
MAY 4, 2023
When your customers shop with you online, they provide a physical billing or shipping address. Whether they know it or not, they also give you another bit of location information: an Internet Protocol (IP) address. Many tech companies consider themselves service providers, exempt from sales and use tax. But in light of the 2018 Wayfair decision and an expanded definition of nexus, more of these businesses are now subject to sales and use tax collection on these services, including but not limite
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Withum
MAY 4, 2023
There has been a notable increase in companies moving their manufacturing operations back to the United States, a phenomenon known as reshoring. Private equity firms have played a crucial role in this trend, investing in businesses shifting their manufacturing base. Reshoring Process in Private Equity The reshoring process in private equity encompasses three primary phases: Assessment Planning and Strategy Development Implementation and Integration Firms initially assess the viability and advant
CPA Practice
MAY 4, 2023
Kevin Tampone syracuse.com (TNS) New York’s minimum wage will begin to rise next year thanks to a new policy enacted as part of the state budget, passed earlier this week. The wage will eventually be indexed to inflation after three years of set increases. The minimum wage will increase to $16 an hour in New York City and Westchester, Nassau and Suffolk counties and to $15 an hour in all other areas of the state on Jan. 1, 2024, according to Gov.
Advertiser: Paycor
There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.
Going Concern
MAY 4, 2023
The rumor mill has been worked into a lather about a reduction in force at Marcum (someone in the comments says that’s BS though we did get confirmation of some kind of private equity deal coming down the pipe), lots of performance discussions at Deloitte after promotions were unexpectedly delayed for many , and possible silent layoffs at EY by way of liberal PIP distribution.
ThomsonReuters
MAY 4, 2023
QUESTION: During the COVID-19 pandemic, we established a telehealth-only plan to provide benefits to individuals who were not eligible for coverage under our regular group health plan. Can we continue to offer this benefit? ANSWER: During the COVID-19 pandemic, telehealth-only benefits have been exempt from certain requirements that otherwise apply to group health plans.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
MAY 4, 2023
The importance of setting a client scope agreement cannot be understated. For CPA firms, having clear expectations and boundaries with their clients can help avoid misunderstandings, scope creep, and other potential risks. Not only that, but investing in quality payroll solutions can save businesses time, money, and resources. In this article, we discuss the importance of setting a client scope agreement, what components make up a successful scope agreement, and why you should invest in one earl
CPA Practice
MAY 4, 2023
By Samantha Gowen, The Orange County Register (TNS) At least 4.4 million TurboTax users are getting a refund this month under a $141 million multistate settlement with parent company Intuit. New York’s Attorney General Letitia James said Thursday that eligible TurboTax users will get an email about their settlement and checks should arrive throughout May.
Insightful Accountant
MAY 4, 2023
The companies have teamed up to bring real-time expense management and simplified bookkeeping to small- and medium-size businesses.
Xero
MAY 4, 2023
Today, I want to take a moment to recognise a truly remarkable member of the Xero team, Catherine Walker, aka “^OG” or “Orange Girl.” Catherine was part of the founding Xero crew, and after nearly 17 years, is our longest-serving employee and has seen Xero grow from its humble beginnings on her dining table in her Wellington apartment, to the global company it is today.
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Insightful Accountant
MAY 4, 2023
Not sure if you've noticed yet, but QBO Payroll has finally added a 'per hour worked' option for employee deductions/contributions.
ThomsonReuters
MAY 4, 2023
IRS Chief Counsel Memorandum 202317020 (Mar. 29, 2023) Available at [link] The IRS Chief Counsel’s office has released a memorandum that addresses the substantiation requirements for medical and dependent care expenses and the consequences of various substantiation shortcuts. The memo reconfirms that medical expense reimbursements from a health FSA are included in an employee’s gross income if the health FSA fails to fully substantiate any expense of any employee in accordance with IRS rules (s
AccountingDepartment
MAY 4, 2023
The financial close process involves reconciling all of the company's activity over a set period of time. This process can be completed on a monthly basis, quarterly basis, yearly basis, or any other predetermined period.
ThomsonReuters
MAY 4, 2023
Mass. Laborers’ Health and Welfare Fund v. Blue Cross Blue Shield of Mass., 2023 WL 3069637 (1st Cir. 2023) Available at [link] The First Circuit has upheld a trial court’s conclusion that a third-party administrator (TPA) for a self-insured multiemployer health plan was not an ERISA fiduciary based on its administrative activities (see our Checkpoint article ).
Advertiser: Paycor
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.
CPA Practice
MAY 4, 2023
Suppose you can claim a tax deduction or a credit on your personal federal income tax return. Which would you rather have? “It makes no difference,” you might say. “Either one is beneficial.” But you would be wrong. Absent unusual circumstances, a credit on your return is more valuable than a deduction, by far. It’s a no-brainer. Nevertheless, there are certain times when a deduction would be preferable.
ThomsonReuters
MAY 4, 2023
The importance of setting a client scope agreement cannot be understated. For CPA firms, having clear expectations and boundaries with their clients can help avoid misunderstandings, scope creep, and other potential risks. Not only that, but investing in quality payroll solutions can save businesses time, money, and resources. In this article, we discuss the importance of setting a client scope agreement, what components make up a successful scope agreement, and why you should invest in one earl
CPA Practice
MAY 4, 2023
Fortune recently released its 26th annual ranking of the 100 best companies to work for , and the business magazine’s list for 2023 includes seven of the top 15 biggest accounting firms in the U.S. The data, collected by the website Great Place to Work, is based on survey responses from more than 1.3 million workers across the country. Employees are asked to provide feedback about their company’s culture by responding to 60 statements on a five-point scale and answering two open-ended questions.
Withum
MAY 4, 2023
Once again, I have not been asked to present a graduation speech, but here is what I would have said if asked. When I was 12, I asked an uncle what he did. He said he was a corporate accountant, but what he really wanted to do was be a philanthropist. I asked why a philanthropist, and he replied that it would mean he would have so much money that he would be able to give a lot of it away.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Accounting Insight
MAY 4, 2023
With Accountex taking place next week, get to know exhibitors Cintra and Unaterra, before meeting them at the show. What do Cintra and UnaTerra do? Cintra are the fastest growing single payroll and HR platform in the UK. Our award-winning software has been delivering results for over 40 years and is used by over 1000+ organisations. Voted CIPP payroll provider of the year 2022, Cintra helps organisations keep pace with the world of work to become more agile, compliant, and effective across the f
Insightful Accountant
MAY 4, 2023
A new American Express survey finds that 50% of small businesses believe cash flow management tool consolidation positively impacts profitability. AMEX Business Blueprint and Banking's Brett Sussman explains.
Reckon
MAY 4, 2023
With this year’s 2023-24 federal budget due to drop at 7:30 pm AEST on Tuesday 9 May 2023, the Reckon team investigate what our very own community of small business owners hope to gain from it. Various forecasts and commentary on Australia’s fiscal wishes and concerns have been swirling the news as of late. So, as we wait for the big announcement, we recently surveyed a spread of Reckon SME customers to ascertain which budgetary measures they hope will be national priorities in the financial yea
Insightful Accountant
MAY 4, 2023
Learn everything you need to know—and more—about QuickBooks Online Integrations. Join QBExpress' Kim Fedore and MoneyPenny's Penny Breslin for this 'can't miss' Future Forward webinar. Sign up today.
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.
Accounting Insight
MAY 4, 2023
Chaser Selects UNIPaaS’ Embedded Payments Stack to Empower SMBs with Seamless Payment Processing for Faster Transactions Chaser , the global accounts receivables platform and credit control service provider, has announced its partnership with UNIPaaS , the leading embedded finance solutions provider for digital marketplaces and B2B SaaS companies.
Insightful Accountant
MAY 4, 2023
Tax Practice News' Christine Gervais will show you the finer points of adding—and succeeding with—tax planning, strategy and consulting services. Sign up for the Day 1 'Future Forward Virtual Event' webinar today.
Patriot Software
MAY 4, 2023
Canton, OH Patriot Software, an accounting software and payroll provider, has released a feature enhancement to its Time & Attendance software. Time & Attendance, an optional add-on to Patriot’s payroll software, now supports semi-monthly and monthly pay frequencies. Through Time & Attendance, Patriot Software customers can track and manage employee time cards.
Ryan Lazanis
MAY 4, 2023
Are you considering Jetpack Workflow to help your firm minimize administrative workload and standardize processes? If you’re still sitting on the fence about whether this accounting software is the right fit for your firm, this review might just be the deciding factor you’ve been looking for. Check it out! Table of Contents What is Jetpack Workflow?
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
CPA Practice
MAY 4, 2023
Unity Partners LP (“Unity Partners”), a principles-based middle market investment firm, has partnered with the leaders of NDH LLC to provide strategic growth capital for the business. Founded in 2003 and headquartered in Chicago, NDH provides sophisticated tax, accounting and advisory services to more than 1,500 clients throughout the United States.
ThomsonReuters
MAY 4, 2023
Form 8915-F (Qualified Disaster Retirement Plan Distributions and Repayments) and Instructions (Rev. Jan. 2023) Form Instructions The IRS has issued revised Form 8915-F and Instructions for individual taxpayers to report retirement plan distributions due to qualified disasters and repayments of disaster distributions. Form 8915-F is a “forever form,” designed to be used for distributions for qualified 2020, 2021, and later disasters, and for each year of reporting income from and repayment of th
CPA Practice
MAY 4, 2023
By Erik Larson, Bloomberg News (TNS) A judge dismissed Donald Trump’s $100 million lawsuit against The New York Times and its reporters over an award-winning 2018 expose on his taxes. New York State Supreme Court Justice Robert Reed threw out the case in a ruling Wednesday that also ordered the former president to pay the news outlet’s attorneys fees and costs.
Dent Moses
MAY 4, 2023
Our firm works with hundreds of businesses of all shapes and sizes. Though there are many different business structures and industries, there are many commonalities. Our business clients are usually focused on sales, cash flow, and growth. Accounting needs are often considered a necessary evil rather than a priority. Oftentimes, one of the owners or a family member is tasked with handling the dreaded accounting responsibilities.
Advertiser: Paycor
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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