Tue.Jun 28, 2022

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Is Your Business Eligible for the ERTC?

Anders CPA

The Employee Retention Tax Credit (ERTC) has helped many businesses retain employees and recover from the effects of the pandemic. While the Infrastructure Investment and Jobs Act retroactively ended the ERTC for most businesses, eligible companies have three years after the program ends to look back at wages paid and claim the credit. Below is a flowchart to help determine if you can still take advantage of the ERTC.

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Blog: The 'XYZ Letter' and your sales tax compliance

TaxConnex

Complying with your sales tax obligations involves a lot of variables – your nexus, taxability of your products, type of customer you are selling to, etc. Another key factor that effects your sales tax obligations is related to exempt transactions and exemption certificates. Exemptions are statutory exceptions eliminating the need for the retailer to collect sales tax on a particular transaction or on all transactions with a customer.

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Trending Sources

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Getting Started Getting a Will

Withum

Last week I posted a letter to a friend about getting a new will. I spoke to him and a few others about my blog, and I also received some emails thanking me for posting it. I also got requests for checklists. So, I will send my Getting Your Affairs in Order Tool Kit to anyone requesting it at GoodiesFromEd@withum.com. Just put “Getting Affairs in Order Tool Kit” as the Subject.

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EY Auditors Cheated on Ethics Exams and Tried to Cover It Up, Will Pay a Record Fine for Naughtiness

Going Concern

Well this is bad. The SEC has fined EY a record $100 million after an investigation revealed auditors at EY were cheating on ethics exams (open book ethics exams we presume) and CPE; worse than cheating alone, they actively tried to cover it up and hide the cheating from the SEC. From the SEC news release : The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheating by its audit professionals on exams required to obtain and maintain Certified Public Accountant (C

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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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Calculating the benefits of indirect tax software: Making the business case

ThomsonReuters

Corporate tax teams that want to invest in an automated indirect tax solution can’t simply declare to decision-makers that efficiencies, cost savings, and a host of other benefits will magically start boosting the bottom line once the software is activated. Rather, to make a persuasive case for investment in automation, tax teams must explain: where the promised efficiencies will come from. what the return on technology investment (ROI) is going to be. how adding such a solution will improve dep

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What If Your Company Doesn't Do Bookkeeping?

AccountingDepartment

If you slack on your bookkeeping tasks or even don't do it at all, there is a downside to this. Well, you won't wind up in jail, but you'll wind up paying a hefty price tag for not doing bookkeeping. Here's a list of things that will wind up happening if you're not doing proper bookkeeping for your company.

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More Scary Anti-WFH Headlines: Is Remote Work Bad for Your Mental Health?

Going Concern

The anti-WFH propaganda is in full swing and why shouldn’t it be? Commercial leases still have to be paid whether offices are full of bodies or not, might as well try to weaponize pandemic loneliness against workers to force them back under the fluorescent lights while they can. First we heard that remote work might not save you as much money as you think , a suggestion that was quickly debunked in our comment section by accountants saving a s**t ton of money (and stress) by skipping long

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Notice of office closure for staff training and development

Wellers Accounting

Chris Thompson explains why our staff training day is an essential part of client service delivery.

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What does giving clients ‘added value’ really mean?

Mark Lee

I first wrote about this in 2012 when I explained that I don’t believe that accountants’ clients really want ‘added value’ Heresy? No. It’s just I’m not a big fan of buzzwords. I believe it’s more helpful to think about what anyone means when they say they want ‘added value’ Typically accountants’ clients want is to feel that the fees they are paying are good value for the service they receive.

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58% of Workers Say They Have Remote Work Options

CPA Practice

According to a new report from McKinsey and Company, 58 percent of the 25,000 American workers they surveyed reported having the option to work from home at least one day per week. And 35 percent of those surveyed said they can work from home every day.

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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 pays $100M SEC fine over CPA ethics exam cheaters

Accounting Today

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EY Hit with Record $100 Million Fine from the SEC for Ethics Exam Cheating

CPA Practice

EY will have to pay a $100 million fine, the largest monetary penalty ever given to an audit firm by the Securities and Exchange Commission (SEC), after it was revealed today that hundreds of the Big Four firm’s auditors had cheated on mandatory ethics.

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Not-for-Profits in the Know Webinar Series: In-Kind Donations Reporting is Changing

Anders CPA

Our Not-For-Profit team is excited to offer a new webinar series focused on industry topics that not-for-profits are most interested in. Starting in July, Anders advisors will host a bi-monthly discussion to help educate and empower community leaders to further the mission of their organizations. . In-Kind Donation Reporting: How New Changes will Affect Your Audits.

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Making Forensic Accounting Accessible With the Divorce Money Guide

FraudFiles

The Divorce Money Guide has gotten rave reviews from divorce attorneys, financial planners, divorce coaches, and divorce financial analysts. I’m so excited to be able to make forensic accounting accessible to ordinary people in the process of divorce. We all know how expensive it can be to hire a forensic accountant. So what happens to those people who know their spouse is involved in money shenanigans, but aren’t able to hire me?

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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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Putting a Spotlight on Your Digital Footprint

Intuitive Accountant

If you're looking to interact more with your clients, there are several types of digital engagements that shine. 3 Dog Write's Lisa Apolinski sheds a little light on why.

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More than half of workers are at least partially remote

Accounting Today

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Bigger. Faster. Stronger.

Intuitive Accountant

Sage 2022 Close the Books Survey reveals key strategies for organizations to attain a faster financial close and unlock greater value.

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Supreme Court to settle FBAR penalty controversy

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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Technology Podcast

RitaKeller

“Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort.” – Paul J. Meyer. I know you are always looking for new tools to help your firm become more efficient. You also want to make things easier for your valuable team members. Much of your efficiencies these days depends on having the absolute best technology.

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EY denies audit firm split tied to $100M SEC penalty

Accounting Today

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New Mailchimp Benefit for QuickBooks ProAdvisors

Intuitive Accountant

Now QuickBooks ProAdvisors can help improve their marketing and client outreach thanks to the new Mailchimp Benefit.

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CLA grants $1M to NABA to build Black talent in accounting

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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Accounting For Good turns 25

Accounting for Good

The post Accounting For Good turns 25 first appeared on ACCOUNTING FOR GOOD.

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The tax complexities of selling digital products abroad

Accounting Today

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KPMG Will Pay the Department of Justice $307k For Discriminatory Job Postings

Going Concern

Apparently KPMG was discriminating against non-U.S. citizens in job postings ? News to us. Now it’s news to you, too. Anyway, the firm was ordered to pay $306,656, the largest fine of the 16 total employers involved in the Department of Justice settlement. These civil penalties depend, in part, on the number of discriminatory advertisements employers posted.

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Want to do FP&A? Better know Excel

Accounting Today

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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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Top firms grow their share of public audits

Accounting Today

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Ex-UBS staffer wants cash for exposing Swiss billions

Accounting Today

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Exit planning for clients, with empathy

Accounting Today

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Microsoft investors file resolution targeting tax practices

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.