GrowthForceBlog
MAY 19, 2023
7 min read The primary reason people start businesses is to make money. Key Takeaways Why Driving Profits Is So Important Now: Profits are becoming increasingly important due to uncertainty in the economy. Employee turnover of the Great Resignation remains high, inflation is high, unemployment is on the rise… Maximized Productivity: The most expensive resource in your business is also the most finite: time.
MyIRSRelief
MAY 19, 2023
New York is known for being a hub of commerce, culture, and innovation, attracting businesses and individuals from all over the world. With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Whether you are a small business owner, self-employed, or an individual taxpayer, you may face tax issues such as tax audits, back taxes, and 941 payroll tax problems.
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CPA Practice
MAY 19, 2023
The IRS is planning to roll out its own free online tax-filing system in a move that could put the agency in direct competition with online tax preparation behemoths like Turbo Tax and H&R Block. In a report the agency submitted to Congress on Tuesday, as required by the Inflation Reduction Act, the IRS said it evaluated the feasibility of providing taxpayers with the option of a free, voluntary, IRS-run electronic filing system, which is being called “Direct File.
Going Concern
MAY 19, 2023
Satirist Mark Humphries has given us the closest thing we’ll get to an apology from PwC for their part in shattering the public trust and slandering the good name of professional services. A message from PwC pic.twitter.com/3DoR61BheQ — Mark Humphries (@markhumphries) May 18, 2023 The skit ran on the Australian Broadcasting Corporation’s evening news and said Humphries in a tweet , “I’d wager the ABC legal department spent more time considering the legal risks of this sketch th
Speaker: Victor C. Barnes, CPA, MBA
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.
CPA Practice
MAY 19, 2023
May 2023 It’s hard to believe that this year is almost halfway gone, and some of our most important projects for helping our team and improving the tools we use are just now getting started. Technology tools for your firm’s stack continue to improve and innovate. But how do you determine what is fact and what is hype? Please check out our podcast coverage of tools at The Technology Lab.
Randal DeHart
MAY 19, 2023
Sales and profit are two very different things – as a construction business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that solid cash flows from sales deliver little profit. A cash flow forecast tracks cash flowing in and out of your business. The timing of these flows enables you to identify cash-rich and cash-lean periods.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Cherry Bekaert
MAY 19, 2023
Contributors: Dan Hulen, Director of IT and Managed Services | Chris Martin, Senior Manager of IT and Managed Services When faced with challenges in managed services and moving to the cloud, Thom Child and Family Services turned to Cherry Bekaert’s Digital Advisory. The result: a dynamic partnership, enhanced security, collaboration and performance.
CPA Practice
MAY 19, 2023
Salsa , a startup that allows software platforms to embed and launch payroll features inside their own products, announced today it has raised $10 million in funding to modernize the way workers get paid. Salsa enables developers to easily add a revenue-generating payroll solution inside their own software products so they can offer their customers an all-in-one experience when managing their business and employees.
Accounting Insight
MAY 19, 2023
Cloud accounting business iplicit has signed accounting industry heavyweight, Damon Anderson, to help shape the growth of its partnership channels, as he did previously with Xero. Anderson has become a strategic advisor to the rapidly expanding cloud accounting software provider, with a consulting role, which includes the creation of an advisory board to help steer iplicit’s partnership programme for accountancy practices.
Withum
MAY 19, 2023
On May 8, 2023, Governor Phil Murphy signed into law A3946 , which effectively decoupled New Jersey from Federal Internal Revenue Code (“IRC”) section 280E. The bill, which has been making its way through the New Jersey legislature since May 12, 2022, states, “For cannabis licensees, New Jersey gross income under subsections b. and k. of N.J.S.54A:5-1 shall be determined without regard to section 280E of the Internal Revenue Code.” This section is intended to apply to all cannabis li
Speaker: Kim Beynon, CPA, CGMA, PMP
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.
Going Concern
MAY 19, 2023
Of all the occupations most at risk of being replaced by synths AI in the near future — bookkeepers, programmers, and washed-up accounting blog writers, to name a few — no one really talks about how ChatGPT, Bard, and Microsoft’s Bing AI (if you’re counting that one) will impact scammers. You know, those people who impersonate IRS and FBI agents and implore you to pay their fake fines in Google Play cards.
CPA Practice
MAY 19, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA discuss the built-in artificial intelligence options in Microsoft’s products. Click here to visit the podcast page.
Withum
MAY 19, 2023
Begin Your ISO 27001 Certification Journey and Protect Your Business Today Download Guide In a world driven by technology, the security of your sensitive information has never been more critical. To address the risks posed by cyber threats, organizations across the globe are adopting a variety of policies, procedures and security frameworks like the ISO 27001 framework.
Dent Moses
MAY 19, 2023
In December 2022, Congress passed a giant omnibus budget bill that included the Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (“SECURE 2.0”). Secure 2.0 contains numerous provisions related to individual and employer-sponsored retirement plans. Let’s examine a few of the key provisions. Age Increased for Required Minimum Distributions The age used to determine required minimum distributions increases in two stages – from 72 to 73 for those who turn age 72 after 2022, and
Speaker: Mark Gilham, FCCA, CPP
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.
Menzies
MAY 19, 2023
Menzies LLP - A leading chartered accountancy firm. Every organisation requires a strong plan to ensure its success and most business owners know that staying focused is vital to be able to deliver the long-term objectives. However, this has been difficult for many small and medium-sized businesses to achieve in recent times, and short-term demands have risen to the top of the decision-making agenda.
Analytix Finance & Accounting
MAY 19, 2023
CFOs play a prominent role in the success of a business. They protect the company’s finances and steer the business towards continuous improvement by taking actions dependent on the existing scenario. Hiring a CFO can be a good idea if you own or manage a startup and find managing the key aspects of your finances to be challenging. If your company is not yet ready to hire a full-time CFO, there are great options available for you.
Menzies
MAY 19, 2023
Menzies LLP - A leading chartered accountancy firm. The UK tax system is designed in such way as to provide the taxpayer with important safeguards. One of the most important restrictions over HMRC’s powers concerns their ability to assess historic liabilities they believe to be due, in years where they would be out of time to open an enquiry. To balance HMRC’s power to raise an assessment with protecting the taxpayer, specific time limits are imposed on HMRC to raise an assessment for a loss of
Accounting Insight
MAY 19, 2023
Accounting software specialist, Bright, has launched its new cloud tax and compliance product at Accountex 2023. In response to the increasing surge in businesses migrating to the cloud, its new software will match the engine and support that drives award-winning BTCSoftware for desktop with a streamlined and efficient interface to create a new tax and accounts product for UK accountants.
Advertiser: Paycor
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.
Going Concern
MAY 19, 2023
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. ICYMI I Love Accounting. So I Had to Leave. [ GC ] Benjamin Wann, CMA, CSCA, MBA, PMP, CPA wrote a little something about the thing we all love to hate.
CPA Practice
MAY 19, 2023
By Sabrina Eaton, cleveland.com (TNS) Sen. Sherrod Brown wants to tweak a controversial upcoming tax rule that would require third-party payment platforms to issue 1099-K forms to small business owners and entrepreneurs who have at least $600 in sales. The Cleveland Democrat on Thursday introduced legislation called the Red Tape Reduction Act with Sen.
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