Fri.Jun 10, 2022

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Do I Need an Accountant for My E-commerce Business?

Snyder

Although many e-commerce businesses will hire an accountant to help them with tasks such as tax filings, having efficient accounting for Shopify software can make a big difference to your finances! Functions such as expense tracking in Shopify automate most of the daily bookkeeping duties, like: Producing real-time P&L reports Compiling every sales channel in one place Managing your inventory from a single dashboard.

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High Gas Prices Cause Midyear Mileage Rate Increase By IRS | Canopy

Canopy Accounting

If you’ve driven at all in the last few months, you’ve probably noticed the unusually high gas prices across the country. According to AAA , the national average is nearing $5 per gallon. In light of this, the IRS has announced a rare mid-year increase to the standard mileage rates for the remainder of 2022.

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Deloitte Sued by Former Manager After the Partner She Was Banging Turned Weird and Stalkery (Allegedly)

Going Concern

Guys (and gals) I don’t know how many times we have to say this but please, please don’t bang people you work with. There are like three billion men or women in the world for you to pick from (6 billion if you’re bisexual heck yeah *high five* ); more precisely there are 2.3 billion adults between the ages of 20 and 39 across the globe , add another 1.8 billion to that if you’re into cougars (in which case hey, call me) and that gives you 4.1 billion/2 people to potential

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Tax Strategies for Selling an S Corporation: Planning for an Asset Sale

CTP

Even if you have never assisted a client with the sale of a business, as a tax planner you have the potential to provide tremendous value in the planning process. Many business owners may also be navigating a sale for the first time and likely have little insight into the tax implications and how to set themselves up for savings. By training as a Certified Tax Planner , you can benefit S corporation owners looking to sell by helping them understand the nature of an asset sale and helping them al

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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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Top Considerations for Delivering an Efficient Hybrid Workplace

Withum

Over the last two years, the importance of optimizing efficiency and productivity in the Hybrid Workplace has become an accelerated priority. Technical innovations in automation can help streamline our work, thus saving time, reducing costs and building business resiliency. In the following insight, we discuss how to make hybrid work between people, places and processes simpler and deep dive into some tools that have become integral to improving business efficiency.

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SEC Slaps CohnReznick and Three Partners with Improper Professional Conduct

Going Concern

This press release from the SEC is wayyyy too boring to be rewritten in an interesting way on a sunny Friday afternoon so have some copy paste instead: The Securities and Exchange Commission today charged audit firm CohnReznick LLP with improper professional conduct on engagements for two clients in 2017. The two clients, Sequential Brands Group, Inc. and Longfin Corp., previously were charged by the SEC for filing fraudulent financial statements prior to their bankruptcies and Nasdaq delisting.

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Seven Ways Engineering Leaders Can Avoid Team Burnout

Lockstep

According to the Anatomy of Work Index , 71% of knowledge workers experienced burnout at least once in 2020. Most of us have at some point in our lives experienced burnout and that definitely zaps the energy out of our career, friendships, and family interactions. Identifying burnout and avoiding it – though tough for engineering leaders – was easier to manage when teams met together daily.

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Proven Construction Business Processes When Creating Your To-Do List

Randal DeHart

When you're a construction business owner, your to-do list is often long and constantly growing longer. You need to do many things, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less-vital activities, but that often means you miss deadlines, make mistakes or always feel as though you're trying to catch up.

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Product-mindset in engineering

Lockstep

At Lockstep, we believe that engineers with a product-mindset are a key ingredient to building a successful product. As we embarked on our journey to create a new category of products on Lockstep’s connected accounting network , we learned that providing value to customers is more than a task to complete, but is a mindset that’s required across the organisation from the top-down.

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Friday Footnotes: EY Buffs PE Practice; A Thirst for Integrity; “Everyone Feels KPMG Is 4th” | 6.10.22

Going Concern

SEC Acting Chief Accountant Cautions Against “Checklist Compliance” Approach to Auditor Independence [ JD Supra ] SEC Acting Chief Accountant Paul Munter re-emphasized the SEC’s focus on auditor independence in his June 8 statement on “The Critical Importance of the General Standard of Auditor Independence and an Ethical Culture for the Accounting Profession.

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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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Advance Your Knowledge With a Fintech 201 Guide

Accounting Web

Growth Advance Your Knowledge With a Fintech 201 Guide.

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What Types of Advertising/Marketing Expenses Can Small Businesses Deduct?

Ronika Khanna CPA,CA

In the past advertising for small business owners mostly involved creating an ad for print, television or radio (a catchy jingle is always a good way to go), cold calling (rarely a pleasant experience), sending out flyers or being at a conference. The problem with these types of advertising is that it is difficult to gage the direct impact of their effectiveness.

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Common Payroll Mistakes Small Businesses Make

Basis 365

Hiring is a significant challenge for businesses that are just starting and looking to grow. In addition, it can be difficult to bring someone on board if you have been working as a small team. What are the best ways to pay them? How about taxes? Although adding another member to your team (or more) will increase the amount you have to do behind the scenes, there is no reason to feel intimidated.

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Selling an S Corporation: How to Maximize Tax Savings in an Asset Sale

CTP

Business owners looking to sell their S corporation may start to get tangled up in all the details, especially if they are a first-time seller. This can lead to overlooking one key part of the sales process: tax planning. The decisions you make in structuring the sale will have a direct effect on later tax implications and how much of a profit you actually end up making.

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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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Inflation and how to weather the storm

Menzies

Menzies LLP - A leading chartered accountancy firm. Last month, the Monetary Policy Committee voted to increase the Bank of England Base Rate (BBR) from 0.75% to 1%. This is the highest that the BBR has been in 13 years, but still at a record low level when looking at the BBR’s history. Inflation is now thought to be running at approximately 7%, predicted to increase to 10% by the end of the year (not seen since 1982).

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TIGTA warns of IRS impersonation scams

Accounting Today

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Know The Whole Story – Flashback

RitaKeller

“ It is literally true that you can succeed best and quickest by helping others to succeed.” – Napolean Hill. Friday again. Wow, this week has flown by! Mostly because I have been on vacation at Hilton Head Island. So, here’s a Friday Flashback post for you to ponder. Be sure you know the backstory!

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IRS whistleblower awards plunge

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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Deloitte denies plan to split firm

Accounting Today

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Imitate before you innovate

Accounting Today

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PwC finds risk management challenges rising

Accounting Today

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SOX compliance hours and costs increased

Accounting Today

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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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IFAC lends support for financial management in public health

Accounting Today

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On the move: KPM names accounting outsourcing leader

Accounting Today

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Trump CFO hires top lawyer as New York tax case gets closer to trial

Accounting Today