Wed.Oct 19, 2022

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What You Can (and Should) Do to Achieve Gender Equality at Work

Patriot Software

The topic of gender equality at work is heavily debated. Do hiring managers place more men than women? Do women earn less than men working the same jobs? Are women passed up for promotion opportunities? According to many studies, the answer is yes to all of the above. You can’t solve the nation’s inequalities. But, […] READ MORE.

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Deadlines, Deadlines, Deadlines.Understanding the Nuances to Maintaining Your Sales Tax Calendar

TaxConnex

Sales tax, unlike other types of taxes, has many deadlines, not once or twice a year, but often every month and it doesn’t fall on the same day for every business, or state. With sales and use tax compliance, there are six primary deadlines each month – 7 th , 10 th , 15 th , 20 th , 25 th and 30 th – without considering the odd due dates for certain states – 12 th , 23 rd , 24 th , etc.

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Fraud and Internal Controls in Small Business

SMBAccountant

Each year the Association of Certified Fraud Examiners puts out a report that identifies trends and key findings related to fraud over the past year. Some of the highlights seem unreal as you look at them for the first time. Here’s some of the findings from the “Occupational Fraud 2022: A Report to the Nations.” Organizations with the FEWEST employees had the highest median loss of $150k showcasing that small businesses are the hardest hit and need to be concerned with the potential for fraud.

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IRS Warns About False Employee Retention Credit Claims

Withum

On October 19, 2022, the IRS issued a press release ( IR-2022-183 ) warning taxpayers to be wary of third parties who advise them to claim an employee retention credit (ERC) when they do not qualify. According to the IRS, these third parties “often charge large upfront fees or a fee that is contingent on the amount of the refund.” The IRS is also concerned that these third parties “may not inform taxpayers that wage deductions claimed on the business’ federal income tax return must be reduced by

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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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Audit Partner Really Bad at Auditing Won’t Be Auditing Any Time Soon (Or Ever)

Going Concern

The PCAOB has made it painfully clear that they are done pussyfooting around and sick of auditors not doing their jobs. Chair Erica Williams said in September the Board plans to use every tool at their disposal to bring the hammer down on naughty auditors and it seems that’s exactly what they’re doing. Wanna alter work papers and then double down when you’re caught?

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Anders Partners with Fifth Avenue to Provide Streamlined Credentialing and Provider Enrollment Process in Missouri and Illinois

Anders CPA

Anders is expanding our partnership with Fifth Avenue Healthcare Services (Fifth Avenue) to offer a streamlined, outsourced credentialing and provider enrollment process for physician practices and health systems in Missouri and Illinois. With an industry-focused team of health care advisors, Anders has the provider enrollment expertise that pairs perfectly with Fifth Avenue’s delegated credentialing specialization.

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Cash flow vs Trial Balance. Which one to trust?

Simple Accounts

Cash flow and Trial balance are two different yet connected terms that are familiar to everyone involved in the business. Discussions have been going around for a very long time to decide which is better or which one to trust. Take another look at both before moving on to conclusions based on the knowledge you already have. . Cash Flow . The simplest definition of cash flow is the movement of money into and out of business.

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What Is a Statutory Employee?

Patriot Software

Have you ever seen that tiny box on a W-2 form for statutory employees? Have you wondered, What is a statutory employee? If so, you’re not alone. Many employers without statutory employees aren’t entirely sure what this classification means. But at one point, you may need to hire a statutory employee. Statutory employee definition A […] READ MORE.

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Compensation Watch ’22: Just How Scary Were Raises at KPMG This Year?

Going Concern

As the leaves start changing to PwC colors, it signals the start of compensation season at another Big 4 firm: KPMG. The results of the most recent round of comp talks are in and can be found on r/accounting , per usual. So during this spooky szn, were raises scary bad or scary good for KPMGers? Let ’s take a look. The calendar year started off on a good note for employees of the Radio Station as it was announced last January that mid-year raises would be coming on April 1.

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Is Your Business Breaking the Law With Pay Secrecy Policies?

Patriot Software

For many years, it was typical for employers to discourage discussions about pay in the workplace. And, many businesses had or have pay secrecy policies to prevent employees from talking about their compensation. Nowadays, pay transparency is on the rise to help combat gender inequality at work. In fact, 17% of private companies practice pay […] READ MORE.

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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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Can Skagit County Businesses Still Get the Employee Retention Credit?

SkagitCountyTaxServices

Everybody keeps saying we’re slowly leaving the pandemic behind – and for Skagit County businesses, that means that pandemic tax relief is disappearing, too. But can you still qualify for one of the most popular of the Covid-related federal breaks: the Employee Retention Credit (ERC)? Here’s the deal: you have likely heard from friends or heard aggressive marketing campaigns that are promising the moon.

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What Is Washington Labor and Industries?

Patriot Software

If you’re an employer, you are responsible for handling payroll taxes for your employees. And on top of your payroll responsibilities, you might also need to get workers’ compensation coverage. Washington state employers needing to get workers’ compensation must learn about Washington Labor and Industries regulations, exemptions, and rates. Read on to learn all about […] READ MORE.

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More Email Blunders That Cost Accountants Time and Money

Lockstep

We all know how frustrating email can be. Sometimes it just doesn’t work as you want it to. In Part I Email Blunders That Cost Accountants Time and Money of this series, we took a look at some of the most common email blunders that can cost accountants time and money. In Part II, we’ll take a look at some more email blunders that can trip up even the most experienced accounting teams.

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Is Paid Family Leave Taxable?

Patriot Software

State-mandated and voluntary paid family and medical leave is on the rise. A number of states (and D.C.) have implemented paid family leave (PFL) programs, and more than one in three employers offer this benefit. To avoid payroll mishaps, employers must be able to answer: Is paid family leave taxable? If you don’t already, you […] READ MORE.

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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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How a Xero rockstar is embracing digital to make things less complicated for her firm

Xero

When Lucy Johnson won the 2022 Xero Award for Sole Practitioner of the Year, her practice – Simplex Accounting (formally known as Isle Book-keep) – was just 12 months old. Knowing the businesses she was up against, Lucy acknowledged: “To even be considered a finalist was a massive deal for me; I was just happy to be there.” . Lucy started Simplex Accounting after being made redundant from her job doing the books for a beauty company.

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What is the Employer Medical Assistance Contribution Tax?

Patriot Software

As a small business owner, you need to stay on top of your state-specific employer responsibilities. Because each state has different laws, you may have more tax responsibilities than an employer in another state. If you are an employer in Massachusetts, you might be required to pay the employer medical assistance contribution (EMAC) tax. What […] READ MORE.

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Intuit Announces QuickBooks Leadership Team Changes

Intuitive Accountant

Intuit is expanding leadership focused on delivering products and services for ProAdvisors, accounts and bookkeepers.

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The Return of the Social Security No-match Letter: What You Need to Know

Patriot Software

Verifying your employees are authorized to work in the United States is one step of the new hire paperwork process. You must gather your employees’ names and Social Security numbers (SSNs) so you can fill out essential documents like payroll reports. But if an employee’s SSN and name don’t match the Social Security Administration’s (SSA’s) […] READ MORE.

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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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Quiet Quitting- What Business Owners Can Do

GrowthForceBlog

9 min read. Since the start of the pandemic, business leaders have experienced unprecedented employee turnover rates with workers quitting their jobs in droves in search of better opportunities elsewhere. The latest trend of The Great Resignation is one in which employees are "quitting" without actually leaving their jobs. Key Takeaways. Signs of Quiet Quitting: For many organizations, the first indication of quiet quitting is a productivity slump.

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What Is a Nonexempt Employee?

Patriot Software

Worker classification is critical. After you’ve narrowed down whether a worker is an independent contractor vs. employee, you’re not done. You need to also figure out if an employee is nonexempt. What is a nonexempt employee? When an employee has nonexempt status, the Fair Labor Standards Act’s (FLSA) minimum wage and overtime laws come into […] READ MORE.

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Promotion Watch ’22: BDO USA Gives 69 People Fancy New Titles

Going Concern

People who know, know BDO USA recently promoted 49 people to partner and 20 people to principal for fiscal year 2023. The class of FY 2023 is the same size as the class of FY 2022 — and one of the largest in the firm ’s history. Among the 69 new partners and principals: 22: The number of new partners and principals who are women, or 32% of the class. 19: The number of new partners and principals who work in either assurance or tax, the most of any service line at BDO. 8: The number of new partne

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Can Employers Make Direct Deposit Mandatory?

Patriot Software

Many employees—94% of them, to be exact—receive their wages via direct deposit. When you are deciding how to pay your employees, direct deposit likely comes to mind. However, not all employees want to receive their wages through direct deposit. Can you require mandatory direct deposit? Brush up on federal and mandatory direct deposit by state […] READ MORE.

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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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Can Skagit County Businesses Still Get the Employee Retention Credit?

SkagitCountyTaxServices

Everybody keeps saying we’re slowly leaving the pandemic behind – and for Skagit County businesses, that means that pandemic tax relief is disappearing, too. But can you still qualify for one of the most popular of the Covid-related federal breaks: the Employee Retention Credit (ERC)? Here’s the deal: you have likely heard from friends or heard aggressive marketing campaigns that are promising the moon.

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6 Great Ways to Learn Payroll

Patriot Software

“How do I do payroll?” That’s probably not the first question you asked when you decided to start a business—it probably wasn’t even your 50th question. But if you’re going to hire employees, you will need to know how to do payroll. Running payroll goes far beyond multiplying employee hours by the hourly rate and handing over […] READ MORE.

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Why managing your accounts receivable could save your small business

Basis 365

Understanding and satisfying customers are essential for any business to flourish and grow. The firm must balance increasing customer demands and increased responsibilities. This will create the harmony necessary for growth and stability. As the customer base grows, so will the need for precise financial accounting. This will be necessary to ensure that the firm can meet its goals.

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Salary History Laws by State: Do You Need to Cool it With the Questions?

Patriot Software

As an employer, you want to know everything you can about potential employees. But some questions, like inquiring about salary history, are off-limits—in some states. To stay compliant, learn salary history laws by state. What is salary history? Salary history questions ask candidates how much they earned at each of their past jobs, along with […] READ MORE.

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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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Successfully Navigating Change Within Your Company

Summit CPA

Let’s talk about the bear in the room. I think we can all agree that economic conditions aren’t the best right now. With the current circumstances, there will be a lot of change coming down the road. It could be short term, or it could be long term. When fear takes hold, that’s when a lot of businesses will cling to the status quo. But I’ve always been a believer that you can't be afraid of change; it must be something you embrace, especially in unsettled economic times.

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Use It or Lose It? Here’s What Happens to Unused FSA Funds

Patriot Software

Many employers use flexible spending accounts (FSAs) to help employees pay for their medical-related expenses. Years ago, the “use it or lose it” rule was the main guideline for how employees could spend their money. Under this rule, employees forfeit any leftover money to you at the end of their plan year. Now, you have […] READ MORE.

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Prager Metis hosts launch party in metaverse

Accounting Today

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What Is the Immigration Reform and Control Act (IRCA)?

Patriot Software

Thanks to political campaigns and debates on immigration, you might have heard of the Immigration Reform and Control Act (IRCA). The Act is a big topic that politicians keep coming back to. But, what is the IRCA, and what does it mean for your business? Immigration Reform and Control Act definition The Immigration Reform and […] READ MORE.

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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.