Tue.Mar 07, 2023

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How Virtual Bookkeeping Can Help You Clean Up Your Messy Books

IgniteSpot

Bad bookkeeping is bad for business because.

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Retailers/ecommerce companies face special sales tax challenges

TaxConnex

Online retailers and eCommerce companies have been the focal point of taxing jurisdictions and their updated nexus laws for years. Our third annual survey of financial professionals revealed a sales tax storm in many industries. Financial leaders continue to lean on internal resources while wrestling with the current economy, inflation and a tight job market.

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Deferred Revenue Schedule for Startups

BurklandAssociates

The deferred revenue schedule is an important tool to manage cash flow and ensure your startup's financial statements accurately reflect its position. The post Deferred Revenue Schedule for Startups appeared first on Burkland.

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Changes in 2024 CPA Exam Put Technology Front and Center

CPA Practice

By Gail Cole. The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. The next update goes into effect January 1, 2024 , and places new emphasis on the role of emerging technology in delivering accounting services.

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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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Five time-saving features exclusive to new invoicing

Xero

Did you know there are two versions of invoicing in Xero? There’s the original ‘classic’ invoicing experience and ‘new’ invoicing. New invoicing is the updated version with a refreshed design, new functionality and many of the features you know and love from classic. New invoicing has come a long way since its initial launch and we’re pleased to have introduced several improvements you won’t see in classic invoicing.

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Milestones for S Corporation Election

CPA Practice

By Nellie Akalp. There are many reasons for your clients to claim an S Corp election. Although the most significant advantage is the limited liability protection it provides its shareholders, the S Corp election also avoids the double taxation incurred by C Corps. Milestones to Consider At specific points in their growth trajectory, your clients may reach some milestones that could call for a change in their current business structure.

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Ways to Solve Your Accounting Firm’s Last-Minute Staffing Needs

CPA Practice

You were proactive and diligent about readying your accounting firm for tax season, and yet you’re still facing staffing gaps precisely when you need all hands on deck. You’d like to hire some new employees, but your search for viable candidates isn’t yielding the results you’d hoped for. Know that you’re not alone in your recruitment struggles: research for Robert Half’s 2022 Demand For Skilled Talent report found that 87% of finance and accounting managers are challenged in finding skilled pro

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IRS Notice 2023-13 and SITCA: What Service Industry Employers Need to Know 

Patriot Software

Have you heard about the Service Industry Tip Compliance Agreement program, otherwise known as SITCA? On February 6, the IRS released a proposed revenue procedure—Notice 2023-13—establishing SITCA. Learn what it is and why it matters to service industry employers.

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The Search for Talent in Firms

CPA Practice

If you’re struggling to hire and retain talent in your practice right now, you’re not alone. Nine out of 10 accountants in the United States report that they have struggled to hire good, quality job candidates in the past year, according to a new survey commissioned by Intuit QuickBooks. That’s an issue when 82% of accountants anticipate business growth in 2023.

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Why It's Important to Define Who and What Your Company Is

Insightful Accountant

Go Beyond's Greg Sloan discusses why outlining your company's purpose is essential to attracting your ideal workforce.

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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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IRS Warns of New W-2 Scams

CPA Practice

By Leada Gore, al.com (TNS) The IRS is urging people to avoid scams currently making the rounds on social media. One of the schemes, according to the IRS, encourages people to use tax software to manually fill out their W-2 form and provide false income information. This scheme suggests people make up a large salary and witholdings from a phony employer in an effort to get a large refund, sometimes as much as five figures.

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Celebrating accountants: meet the army reservist and opera singer

Xero

Our research found that recruitment is one of the main challenges facing accountants at the moment, so we’re shining a light on some amazing accountants to bust misconceptions around the industry. We speak with Alex Beattie, managing director of KRW Accountants and rifleman in the army reserves, and Hilary Dyson, founder of Bridge Financials and opera singer.

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Save Time with NetSuite's Invoice Automation

AccountingDepartment

As an entrepreneur or manager/owner of a busy small to medium-sized enterprise, it’s essential that you use tools to automate as many processes as feasible to keep things running smoothly. You can do less with more when you pick the right kind of technology and software solutions.

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Women in Accounting Awards 2023

Accounting Insight

Who will be the Top 50 Women in Accounting for 2023? Globally, the accounting industry witnesses remarkable achievements by women every year. A passion for driving industry change and innovation can be seen not only in the indelible mark these women make, but also in how they inspire others with their resilience, leadership, mentorship, and active participation in a more diverse and inclusive industry.

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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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5 Inevitable Decisions Every Business Leader Must Face

GrowthForceBlog

7 min read When you picture a leader, you probably conjure up images of generals charging into battle ahead of their soldiers.

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QB Talks – QBO Update Time

Insightful Accountant

It's time for QB Talks, and this month, that means the 'QBO Update' with Liz Scott.

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Partnership Between AICPA & CIMA and University of Oxford’s Saïd Business School Focuses on Sustainable Businesses

CPA Practice

A new partnership between the world’s most influential association for the accountancy profession and the world’s most prestigious university will equip finance professionals with the tools and knowledge to make businesses more sustainable. AICPA & CIMA, which together form the Association of International Certified Professional Accountants, and the University of Oxford’s Saïd Business School, will jointly offer a new executive management program in sustainability for accounting and finance

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Struggling With Taxes? Here’s Where To Get Help

Nancy McClelland, LLC

(c) Nataliya Vaitkevich The past three years have been challenging in so many ways, to so many people — but as a tax preparer, I can confidently say that the inability for the IRS to provide its usual level of customer service has been among the most impactful. Luckily, recent Congressional funding to make up for years of inadequate budgets, combined with Treasury Secretary Yellen’s direction that IRS priorities should include clearing the backlog of unprocessed tax returns and impro

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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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Misinformation Abounds on IRS Plan to Spend $80 Billion

Dent Moses

The Inflation Reduction Act provides nearly $80 billion in IRS funding over the next ten years. The IRS plans to use some of the funds to hire 87,000 employees. Many claim the funds will be used to hire an army of auditors dedicated to auditing taxpayers. Let’s add some perspective to the claims and numbers: The IRS workforce is aging like the rest of the workforce.

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BPM Partners with Dale Carnegie Training

CPA Practice

BPM LLP , one of the nation’s top 40 largest public accounting and advisory firms, and Dale Carnegie Training, a leading professional development organization, have partnered together to deliver a transformational experience to BPM’s network of clients throughout the United States. The corporate training solutions provided through this partnership augment BPM’s HR consulting team’s breadth of current training programs.

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New VAT penalties and interest payments

Inform Accounting

The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties are due by 7 March 2023. The late payment penalties and points-based late submission penalties were introduced from 1 January 2023, replacing the VAT default surcharge, and apply to accounting periods which start on or after that date.

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Why Safe Harbor 401(k)s Can Help Small Business Owners Keep Employees Happy

CPA Practice

By Mike Piershale, ChFC, Kiplinger Consumer News Service (TNS) A safe harbor 401(k) is a great way for small business owners to reward employees and keep them happy by making generous retirement contributions on their behalf that are immediately vested. And business owners know that finding and keeping good employees is one of the keys to increasing profits.

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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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CalCPA BUZZ: Leadership Nominated Slate for 2023-24

CalCPA

The CalCPA Nominations Committee submitted the following proposed nominated slate for CalCPA’s top spots: Chair: Meredith A. Johnson (San Francisco Chapter) First Vice. The post CalCPA BUZZ: Leadership Nominated Slate for 2023-24 appeared first on Hot Topics.

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February 2023 Sales and Property Tax Changes to Watch For

CPA Practice

By Lindsey Raker. While you focus on your business, we stay on top of legislative and policy changes that can affect your tax compliance. Nuts and bolts Closing the door on transaction thresholds? How do you know if your business is required to register for sales tax in another state? In many states, all it takes is meeting a transaction threshold.

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Understanding Differences Between Tax Treatment and FAR Allowability of Recruitment-Related Costs

Cherry Bekaert

With the end of 2022, government contractors are starting their year-end close outs, thinking and reviewing costs, while considering Federal Acquisition Regulation (FAR) allowability and the potential tax implications. In this article, we address some of the frequently asked questions regarding payments of certain items that benefit employees. Candidate Recruitment Recruiting costs for the right candidate for your business can really add up.

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Can Banks Qualify for the ERTC? Only if They Meet One of Two Qualifications

Anders CPA

Do banks qualify for the Employee Retention Tax Credit, often referred to as the ERTC or ERC? The answer is complicated due to the nature of ERTC qualification requirements. Some financial institutions are being bombarded with emails and calls from consultants promising them hefty sums of the ERTC funds, so it’s important to take the time to refresh yourself on which qualifications a business requires to apply for the ERTC before taking them up on that offer.

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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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Investment Fraud Investigations

FraudFiles

Despite the proliferation of information available about phony investment schemes and the dire warnings given regularly by news reporters, consumers continue to become victims of these scams on a regular basis.

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SmartVault @ QuickBooks Connect 2022

Insightful Accountant

See how the online document management solution and an integrated file sharing platform automates document workflows for today's accounting professionals.

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Ten ways to make clients listen to your advice

Mark Lee

An accountant I have been mentoring for a while shared a common frustration with me recently. It seems he has a number of clients who either ignore or misunderstand his advice. We discussed why this might be happening, how often it happens and what might be the reasons for this and how he might address the issue. I know his situation is not unique as it happens to me sometimes too.

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Xenett @ QuickBooks Connect 2022

Insightful Accountant

Check out how the platform auto-detects and flags your bookkeeping errors based on past trends and historical analysis.

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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.