Thu.Jan 26, 2023

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Benefits of Recurring Invoices or How to Automate Your Accounting With Recurring Invoicing

Snyder

Steady cash flow is what supports your business in a very literal sense. Driving those numbers upwards should be applied not only at the sales and marketing level but the accounting level too. Improving your cash flow metrics with a smart accounting feature like a recurring invoice is a great example of how accounting software can become a reliable partner in your business venture.

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What was new in December for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Crystal ball time. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Among them: Online sellers will challenge more states’ concept of nexus and warehouses – especially for storing inventory for marketplace facilitators such

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W2 Statements Due to Employees and SSA by Jan. 31, 2023

CPA Practice

The Internal Revenue Service is reminding employers of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Employers must file copies of their 2022 Form W-2, Wage and Tax Statements , and Form W-3, Transmittal of Wage and Tax Statements , with the Social Security Administration by January 31, 2023.

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IRS Announces 2023 Automobile Depreciation Deduction Limits and Inclusion Amounts

ThomsonReuters

Rev. Proc. 2023-14 (Jan. 18, 2023) Available at [link] The IRS has announced the 2023 inflation-adjusted Code § 280F “luxury automobile” limits on certain deductions that may be taken by taxpayers using passenger automobiles (including vans and trucks) in a trade or business. For purchased automobiles, the limits cap the taxpayer’s depreciation deduction.

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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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When Culture Meets Community

Insightful Accountant

MasterYourBooks' Mariette Martinez on the important role both play in reaching personal and professional growth goals for Latinos.

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Agency Report Showing High Demand for Surprise Billing IDR Provides Data by State, CPT Code

ThomsonReuters

Initial Report on the Independent Dispute Resolution (IDR) Process April 15 – September 30, 2022 (Dec. 15, 2022) Available at [link] The DOL, HHS, and IRS have jointly issued a report with usage data on the surprise billing independent dispute resolution (IDR) process created when the Consolidated Appropriations Act, 2021 (CAA, 2021) expanded patient protections to shield individuals from surprise bills for certain out-of-network emergency and non-emergency services.

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Why Your Nonprofit Should Be Conducting Risk Assessments

GrowthForceBlog

6 min read Worrying about problems that haven't happened yet or ones that might never happen to your organization may seem like a waste of time and resources – especially if you have more pressing concerns like determining how you're going to meet your fundraising goals so that your mission can survive another year.

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QuickBooks for Mac 2023 Customer Group Features

Insightful Accountant

In QuickBooks Desktop Mac Plus 2023, you can create Customer Groups to run reports or send emails to multiple related customers.

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Payment Operations & The Benefits of Managed Services

MineralTree

What is Payment Operations? PayOps describes the facilitation of money moving in and out of a company. This involves tracking orders from initiating vendor payments all the way through to reconciliation. Today, payment operations also involves implementing and maintaining various payment types, including electronic payments , in addition to providing payment analysis to colleagues, clients, and partners.

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EY Germany Gives 40 Partners and 380 Staff the Boot to Boost Profitability After That Whole Wirecard Thing

Going Concern

EY has been tightening the purse strings over the past several months ahead of the big Project Everest split, the vote on which remains delayed and should happen before the end of this quarter. The firm did not hand out mid-year bonuses in December and sources say that travel, training, and even hiring are on the cost-cutting chopping block. “There’s a huge clampdown on expenses at the moment to make the numbers for Everest valuation look good,” said a source at EY UK to FT.

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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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APPS Directory Spotlight — ForwardAI

Insightful Accountant

See why Forward AI can be your one-stop shop for small business cash flow management, helping today's accountants and small business owners access rolling cash flow forecasts.

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CohnReznick Adds 19 to Partnership

CPA Practice

Top 15 accounting firm CohnReznick recently unveiled a new crop of partners for 2023. “As CohnReznick continues to expand its capabilities and market presence, recognizing the talents and achievements of outstanding professionals is critical to our growth strategy,” said CohnReznick CEO David Kessler. “Our newly promoted partners will serve as key leaders across our industries and service lines—each having demonstrated a strong commitment to our clients, our people, and our communities.

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Legal insights on the DOL’s proposed worker classification rules

ThomsonReuters

On October 11, 2022, the U.S. Department of Labor released proposed rules rescinding current worker classification rules (2020 final rule) and reverting to prior guidance based on historic court rulings on the matter. 2020 final rule As the administration changed hands, the 2020 final rule was placed under scrutiny. First, implementation of the rule was postponed and then later the DOL attempted to withdraw the rule.

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Why you need to include video marketing in your content mix

Reckon

Video marketing has grown exponentially over the last few years. It’s no secret that to stay on top of marketing trends – and results – you should be paying careful attention to including video marketing in your content mix. Why bother with video marketing? Here’s some interesting video marketing stats to consider… If you’re unconvinced about the effectiveness and spread of video marketing, consider the following stats from US-based Wyzowl – who conduct yearly research into video marketing: 86%

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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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When You Need Bookkeeping, Accounting, Controller, or CFO Services

IgniteSpot

How You Know You Need a Bookkeeper You’re likely familiar with the term “bookkeeper,” but what does the role encompass? Bookkeepers take on many of the time-consuming accounting services.

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New Year new business. What can you improve in 2023?

Reckon

Every new year comes with unique challenges and boundless opportunities for your business. The trick is to come prepared for success. The other trick is to be active in planning for it, before the year gets ahead of you. So, as the country wakes up from the festive season slumber and the new year grinds into gear, take a second to prepare your business for the year ahead.

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4 Steps on How to Get Funding for Startup [+ Types of Funding]

Patriot Software

Have an idea for a startup? Check. Think of a business name? Check. Have the funding you need to get started? Eh, not quite check. When creating a startup, you need to have a solid financial foundation to help your business succeed. And to do that, learn how to get funding for startup.

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Judgment of Management and Financial Statement Fraud

FraudFiles

With thousands of detailed accounting rules, how can there be financial statement fraud? There are areas of the financial statements that rely heavily on the judgment of management. They make estimates and decide how to apply the accounting rules. This leaves the door wide open for abuse.

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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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Global economy subdued with weaknesses persisting

Accounting Insight

Latest economic conditions survey from ACCA and IMA paints a picture of a steady but weak global economy The Q4 Global Economic Conditions Survey (GECS) shows signs of steadying, however, many indicators remain weaker than a year ago. The good news is that the GECS Confidence Index bounced slightly for the second consecutive quarter, perhaps reflecting hopes that the worst of the central bank tightening might soon be over and that China might successfully relax its zero-COVID restrictions.

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Moss Adams Admits 36 New Partners

CPA Practice

Top 15 accounting firm Moss Adams promoted 36 individuals to partner earlier this month. “Our newest group of admitted partners exemplifies our focus on providing holistic services that help our clients succeed,” said Moss Adams CEO and Chairman Eric Miles. “I’m proud to have this group join our partnership.” The class of 2023 includes the following 23 men and 13 women: Matt Billings , Denver; National Tax Maria Braun , Seattle; SOC Examinations Erin Clayville , Seattle; Internal Audit Sasha Co

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What Happens if a Business Doesn’t File Taxes?

xendoo

As a business owner, you probably know that you should file taxes on time. However, if you’ve fallen behind on taxes, you’re not alone. Over 33% of Americans procrastinate doing taxes until the last minute. Reasons for procrastinating taxes vary. Some find it too time-consuming and stressful, while others worry if they are filing correctly. No matter the reason, missing the tax filing deadline could be costly, especially for businesses.

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When and How Must a Notice of Termination of COBRA Coverage Be Provided?

ThomsonReuters

QUESTION: To administer COBRA as economically as possible, we do not send bills for COBRA premiums or provide reminders when COBRA premiums are late. If qualified beneficiaries do not pay their monthly COBRA premium by the end of the grace period, we do not contact them—we simply cut off COBRA coverage retroactive to the beginning of the month. Does this comply with COBRA?

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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.