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You just got notice of a sales tax audit. What now? Ideally, you’ve done your homework and put in place processes to comply in those jurisdictions where you have nexus for sales tax purposes. And not ideally? Wherever you are in your sales tax compliance, these steps will help your audit process run smoother. Don’t take it personally Our third annual survey of financial professionals showed that although most companies (67%) reported that state sales tax audits have remained at the same level ov
Accrual accounting generates a more accurate long-term financial picture, is required for GAAP, and is what prospective investors and lenders expect to see. The post Cash vs. Accrual Accounting for Startups: Which is Best? appeared first on Burkland.
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their taxes. However, in order to be deductible, advertising and marketing expenses must be “ordinary and necessary.” As one taxpayer recently learned in U.S. Tax Court, not all expenses are eligible.
TL;DR: In the wake of a banking crisis, cyberattacks are on the rise, especially relating to change of accounts. Vigilance and careful practices are the first and most important lines of defense. The transaction software you use for payables is key to identifying and thwarting attacks. Airbase provides additional levels of security that can be especially helpful in this environment.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
If you ever worked with Office 97, you’ll remember Microsoft’s iconic assistant Clippy. The animated AI-based paperclip would pop up in your document and offer to help you format whatever you were working on. Clippy would analyse and structure words in your document and help you format it according to what you were working on. For example, if anything vaguely resembled a resume, you would be prompted with: “It looks like you’re writing a resume!
Last August, Australian Financial Review reported that eleven people had been “exited” (tossed, kicked out, told to F off, however you prefer to phrase it) from KPMG Australia for misconduct including bullying, sexual harassment and policy breaches in the past year; during the same period, internal misconduct complaints doubled to 88. This may have been due in part to the firm purposely Before that, AFR dug deeper into misconduct complaints at the firm from 2014 and 2019 and reveal
Shark Wheel is a Southern California wheel company that is literally reinventing the wheel. They have produced a new type of a 540° sine wave-shaped wheel that outperforms the traditional wheel in almost every use – from skateboarding and roller skates through to luggage, forklift wheels and tractor tires. The latest breakthrough Shark Wheel has had is with its new farming wheel – the company has signed a major deal with Bridgestone-Firestone, the world’s largest tire manufacturer.
Shark Wheel is a Southern California wheel company that is literally reinventing the wheel. They have produced a new type of a 540° sine wave-shaped wheel that outperforms the traditional wheel in almost every use – from skateboarding and roller skates through to luggage, forklift wheels and tractor tires. The latest breakthrough Shark Wheel has had is with its new farming wheel – the company has signed a major deal with Bridgestone-Firestone, the world’s largest tire manufacturer.
Explore Other Episodes #CivicWarriors #WithumImpact The post Volunteering and Campaigning for a Great Cause With The Leukemia & Lymphoma Society appeared first on Withum.
U.S. consumers plan to spend a collective $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the highest figure on record.
Cash flow is the lifeblood of any business, and managing it properly is crucial for success. While many businesses focus on generating revenue, it's equally important to maintain positive cash flow to ensure that operations can continue smoothly. In this article, we'll discuss some cash flow best practices that businesses should consider implementing to be more successful.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
A pandemic-prompted change in working practices has brought about only slight progress for women in senior leadership, according to Grant Thornton’s 2023 International Business Report (IBR) research into women in business in the global mid-market. Unless businesses develop cultures that empower people through flexible ways of working and take additional steps to support women into senior leadership positions, only 34% of senior leadership positions in mid-market businesses globally will be held
As a key benefit to growing businesses, Cherry Bekaert can provide support for your organization’s tax credits and incentives requirements. Cherry Bekaert’s Tax Credits & Incentives Advisory (TCIA) practice helps our clients with many cost-saving activities that can help increase cashflow and improve their tax position, through vehicles such as: Research and Development (R&D) Activities Design or Development of New or Improved Products, Processes or Software Construction of New Buildings
Single men have long been more likely than single women to own a home, but that gap narrowed sharply in recent years, nearly closing in 2021. However, a new Zillow analysis shows that it widened again last year, shining light on the homebuying challenges single women face, including lower salaries and a more volatile workforce experience. In 2016, 19.4% of young single women owned a home, compared with 29.6% of young single men — a gap of 10.1 percentage points.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
What's new: Encourage on-time payments from your clients by setting up automated late fees. With a simple setting option within Canopy, you can automatically apply late fees to invoices that are past due. When activated, text will be added to all outstanding invoices to help inform clients about potential fees upfront, which reads “ Invoices are subject to a late fee of (N)% when (N) days past their due date.
Small business employment has grown consistently during the first quarter of 2023, according to the Paychex | IHS Markit Small Business Employment Watch. The Small Business Jobs Index, which measures employment growth, increased modestly (0.06%) from the previous month to 99.73. The March report also showed average hourly earnings increased slightly from the previous month to 4.64 percent.
Insider has published a first-hand account from a 37-year-old who lost their job at the beginning of the pandemic when the accounting firm they were working for went under (side note: had to be one tiny firm or we would have heard about that no?). They did what most people did in that situation, enjoyed the break offered by unemployment and spent time with their child.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
Menzies LLP - A leading chartered accountancy firm. In the aftermath of a series of impactful events that have caused businesses to alter the ways in which they operate, even the strongest amongst them have learnt how important strategic planning is. Even though you cannot always predict what is on the horizon, it is worthwhile dedicating some time preparing for the unexpected.
Businesses are looking for ways to be more efficient and accelerate growth, which is why some established companies are connecting with startups to devise innovative new solutions to meet the modern age. There are a variety of ways for established businesses to connect with startups, including full immersion in a startup environment, such as an incubator co-working space, or acquiring talent from a startup.
Each year GetApp, an online review resource businesses can use to make smart decisions about software, reviews leaders in a variety of business software categories and puts together a list of the best in the industry. We’re proud to announce that Synder has been recognized as a top solution by GetApp in its latest Category Leaders report for Accounting Software.
This content is password protected. To view it please enter your password below: Password: The post Protected: Does Your Business Have the Proper Business Licenses? appeared first on Dent Moses, LLP.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Menzies LLP - A leading chartered accountancy firm. To allow HMRC to check that the correct amounts of tax have been paid by taxpayers, they have been afforded formal legal powers to request information and documents from taxpayers. These powers are contained within Schedule 36 to Finance Act 2008. Schedule 36 provides a framework that dictates what information HMRC is entitled to; when they are entitled to ask for that information and who they may request that information from.
Sean McKenzie, CPA, tax principal at Anders, has been named to the St. Louis Small Business Monthly’s Top 100 St. Louisans to Know to Succeed in Business list for 2023. Honorees were nominated and selected based on their efforts, contributions and experiences giving back and helping business owners reach their goals. Sean has over 20 years of experience in public accounting working with individuals and closely-held businesses on tax strategies and compliance.
Last week, the Foreign Secretary, James Cleverly, and Vice President to the European Commission, Maroš Šefčovič, met to sign off the Windsor Framework at the Withdrawal Agreement Joint Committee in London. The meeting follows the vote in the House of Commons, where MPs supported legislation on the Stormont Brake. The Brake introduces a democratic safeguard that will give Northern Ireland institutions, once restored, a role in the decision on whether significant new goods rules should apply in No
It’s that time of year. Year-end financial statement audits are going on, you are working with your accountant on your tax returns hoping to complete on time, and just around the corner, you are required to submit your Incurred Cost Submission (“ICS”). Is there time to breathe? As we know, for companies with a fiscal year ending December 31, the annual ICS will be due by June 30, six months after the close of that fiscal year.
Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.
The Bank of England Monetary Policy Committee announced on 23 March 2023 to increase the Bank of England base rate to 4.25% from 4%. HMRC interest rates are set in legislation and are linked to the Bank of England base rate. As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will increase. These changes will come into effect on: ⦁ 3 April 2023 for quarterly instalment payments, and ⦁ 13 April 2023 for non-quarterly instalments payments.
AuditDashboard , a client collaboration platform for accounting professionals and their clients, has completed its 7 th SOC 2 Type 2 audit for the period of review from February 2022 to January 2023, as it continues expanding its global reach and offering for enterprise customers. The independent attestation affirms AuditDashboard’s information security practices, policies, procedures, and operations meet the rigorous System and Organization Controls (SOC) standards established by the Associatio
“Nothing will work unless you do.” – John Wooden I have an interest in John Wooden , former UCLA basketball coach and a legend in basketball. I enjoy reading quotations credited to Wooden and other articles about his methods and success. I recently read an article that researched Wooden’s methods. 75% of Wooden’s teaching acts contained specific information geared at providing the athlete with a clearer picture of what to do or what not to do.
Cherry Bekaert is accelerating new product development and global delivery scale for an innovative software-based energy grid controls company: PXiSE Energy Solutions – A Yokogawa Company. PXiSE, a San Diego-based company, enables utilities, campuses and communities to hit their clean energy goals by giving grid operators the control they need to manage unlimited renewables and distributed energy resources (DER) while still providing safe and reliable power.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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