Thu.Jun 16, 2022

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3 Tools to Extend Your Startup’s Cash Runway

BurklandAssociates

We first published this article as part of a three-part series to help startups in the early weeks of the Covid downturn. In light of current world events and economic Read More. The post 3 Tools to Extend Your Startup’s Cash Runway appeared first on Burkland.

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Are travel services taxable?

TaxConnex

Summer vacation season is here – and it’s yet another area where sales tax shows up. The sales tax associated with s ervices is a different sales tax animal as compared to tangible personal property. The taxing of certain travel related services, such as lodging, can be taxable in some states. The likes of Expedia and Orbitz have a long history battling various states in the courts even as localities start making deals with new players in hospitality.

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Xero App Store apps Australian small businesses should know about this EOFY

Xero

As we look towards the new financial year, it’s the perfect time to reflect on what’s needed to make FY23 the best year yet for your business. One element that shouldn’t be underestimated is the tools and technology in your repertoire. Why? Our Xero Small Business Insights report shows embracing digital tools can help small businesses accelerate their growth. .

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How to celebrate Pride Month in your small business

Reckon

Did you know that June is Pride Month? That’s right, it’s here! But how can you get involved in a meaningful way within your own small business? What steps can you take to help create a more inclusive society and combat the scourge of intolerance that has historically been brought against the LGBTIQ+ community? It starts with being authentic and knowledgeable.

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Planning Your Restaurants 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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Standard Mileage Rates for Business, Medical, and Moving Expense Purposes Will Increase in July

ThomsonReuters

IRS Announcement 2022-13 (June 9, 2022); IRS News Release IR-2022-124 (June 9, 2022). Announcement. News Release. The IRS has announced a midyear increase in the standard mileage rates for business and medical use of an automobile, and for deducting moving expenses. For travel on or after July 1, 2022, the business standard mileage rate is 62.5 cents per mile (up from the original 2022 rate of 58.5 cents per mile—see our Checkpoint article ).

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Accounting KPI: How to Use Key Performance Indicators to Measure Success

Patriot Software

Your business is efficient and error-free all the time. Well, maybe it’s 90% of the time. Actually, maybe 85% of the time. OK, maybe it’s time to investigate with an accounting KPI (key performance indicator). With knowledge comes power—as soon as you know where improvements are needed, you can create a plan for future success. […] READ MORE.

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Why Is Up-To-Date Bookkeeping So Important?

AccountingDepartment

Updated and accurate bookkeeping is the backbone to keeping a business running smoothly. Whether a business owner is handling all of their bookkeeping in-house, or if an outsourced service provider is taking care of it, here are a few reasons why up-to-date bookkeeping is so important.

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THRIVE - Scaling New Heights - June 19-22, 2022

CPA Practice

Scaling New Heights is a leading accounting technology conference and one of the largest gatherings of certified QuickBooks ProAdvisors in the world. Scaling New Heights transforms the way small businesses operate through forward-looking measurements.

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Top Data Security Practices to Protect Your Firm

Accounting Web

Trends Top Data Security Practices to Protect Your Firm.

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Sage Intacct – Automating to Save You Time 

Withum

Let’s face it, we all make mistakes; we are human, and it is part of our nature. While some mistakes lead to growth, we do not want to see mistakes made regarding our company’s accounting. Segregation of duties and review help to reduce human error. Still, depending on the size of your organization, the reality is that no one has time to review each transaction in full detail.

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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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EY Puts Its Money Where Its Mouth Is on Audit Quality With a Technology Investment

Going Concern

EY announced today it is making a $1 billion investment in audit technology just weeks after WSJ reported that the firm is in the process of splitting its audit and consulting arms. $13.6 billion of EY’s $40 billion global revenue last year came from audit. From EY : EY today announces an investment of more than US$1b in a next generation assurance technology platform – part of a sustained focus on providing high quality audits and responding rapidly to changing expectations from regulator

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Why Old Thinking Won’t Lead to New Ideas

Intuitive Accountant

If you’re going to open up your mind—and firm—you need to change the way you think. Harvard instructor Susan Robertson offers five ways you can become instantly more innovative.

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Infiltrating the inbox: 4 strategies for writing effective business emails that help your bottom line

DMCL

June is Effective Communications month in the business world; a time to reflect and learn new strategies for better communicating in the workplace. As many businesses continue to navigate the era of the remote and hybrid work environments, there’s bound to be places where communication issues arise and information flow breaks down. According to one study, miscommunication costs companies of ~100 employees an average of $420,000 per year.

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Untangle the Power Platform Licensing Web

Withum

Better Understand the Complex Power Platform Licensing Structure. Download Guide. Microsoft’s Power Platform comes with a lot of great automation possibilities but figuring out what to use when and which licensing makes the most sense for your organization is an undertaking. Download our comprehensive guide to determine which licenses are a good fit for your automation scenarios and learn more about Power Platform’s powerful capabilities within: Power Automate Power BI Power Apps Power Apps Port

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Davis and Whitley Get Shafted in Latest Accounting Firm Merger

Going Concern

There’s a new megafirm on the block and it’s called Elliott Penn LLP. Not quite as dynamic as Forvis but we can’t all have forward vision now can we? Since people are already getting dissed by this arrangement, here is the Whitley Penn press release and here is the same exact thing from Elliott Davis, pick your link. The details: The leading accounting firms of Whitley Penn LLP and Elliott Davis, LLC announce today that they will join forces and merge to form Elliott Penn LLP,

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Can Our Plan Require Cost-Sharing for Colonoscopy-Related Services?

ThomsonReuters

QUESTION: Our company sponsors a non-grandfathered group health plan subject to the Affordable Care Act’s preventive services mandate. We understand that the plan may not impose cost-sharing for a colonoscopy that is performed as a screening procedure under the United States Preventive Services Task Force (USPSTF) recommendations. What other colonoscopy-related services must be covered without cost-sharing?

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Deloitte is Coming to Take PwC’s Consulting Crown in Australia

Going Concern

News is slow over here in the land of Coors and corn syrup, let’s take a quick trip to Oceania. Via AFR : Deloitte is challenging PwC’s place as the largest consultancy by revenue in Australia as the firm posts a 19 per cent jump in income to $2.5 billion in the year to May. The strong performance was due to surging demand for Deloitte’s technology, risk and financial services advice.

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TPA’s Administrative Activities and Handling of Plan-Related Funds Did Not Make It a Plan Fiduciary

ThomsonReuters

Mass. Laborers’ Health and Welfare Fund v. Blue Cross Blue Shield of Mass., 2022 WL 952247 (D. Mass. 2022). Available at [link]. A self-insured multiemployer union health plan sued its third-party administrator (TPA) under ERISA and state law, claiming that the TPA “violated its fiduciary duties and the terms of the plan by failing to process claims correctly, overpaying benefits, neglecting to recoup overpayments properly, and refusing to provide the information needed by the [plan] to verify

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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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But Who’s Counting Episode 8: Embracing Innovation by Partnering with Startups

Anders CPA

The startup ecosystem is booming with opportunities for businesses to invest in innovation. In the eighth episode of the But Who’s Counting? podcast, host David E. Hartley speaks with Anders Partner + Tax, Dave Finklang , former pilot-turned-startup-guru, to talk about why and how companies should bet on early-stage companies. Several topics are covered including: How partnering with startups can jump-start innovation for established businesses Common misconceptions about startups working with l

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OCR Issues HIPAA Guidance on Audio-Only Telehealth and Seeks Questions on “Recognized Security Practices”

ThomsonReuters

Guidance on How the HIPAA Rules Permit Covered Health Care Providers and Health Plans to Use Remote Communication Technologies for Audio-Only Telehealth (June 13, 2022). Available at [link]. HHS’s Office for Civil Rights (OCR) has issued guidance to help health care providers and health plans understand how they can use remote communication technologies to deliver audio-only telehealth services in compliance with the HIPAA privacy and security rules.

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Promotion Watch ’22: PwC Admits 283 New Partners and Principals

Going Concern

PwC will be swimming in new partners and principals on July 1, the day when members of one of the largest classes in recent memory at the firm officially earn their stripes. Of the 283 members of the class of 2022 at PwC , 169 will be principals and 114 will be partners. It’s the biggest class in the past 12 years, surpassing the 249 who were promoted in 2019. 2021 : 210. 2020 : 232. 2019 : 249. 2018 : 233. 2017 : 212. 2016 : 226. 2015 : 201. 2014 : 180. 2013 : 157. 2012 : 165. 2011 : 136. 2010

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4 Ways You Can Avoid a Data Leak

Intuitive Accountant

There are lots of cyberattack horror stories out there. CPA4IT's Andrew Wall says adding these key cybersecurity priorities to your 'must-do' list can help make a difference.

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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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NJCPA names 2022 Ovation Award recipients

Accounting Today

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Come See Us At Scaling New Heights - Booth 148

Intuitive Accountant

Insightful Accountant will be "in the house" at Scaling New Heights. Come see us in Booth 148 and learn how you can win a Remarkable 2!

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EY invests $1B in new audit technology

Accounting Today

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Practice Apps Sponsors at Scaling New Heights

Intuitive Accountant

Here are some of the Practice Software Apps sponsors that can be found on the exhibit hall floor at this year's 'Scaling New Heights.

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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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House committee proposes $1B funding boost for IRS

Accounting Today

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An HR Refresher

RitaKeller

“I am convinced that nothing we do is more important than hiring and developing people. At the end of the day, you bet on people, not on strategies.” – Lawrence Bossidy . Maybe your firm is large enough to have a dedicated HR director. In many firms, the firm administrator (practice manager) is the one who fields most HR questions. No matter what size your firm YOU need to be careful what you say or do, especially if you are a partner or manager.

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GASB issues guidance on accounting for compensated absences

Accounting Today

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SASB Standards Board prepares for transition to ISSB

Accounting Today

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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.