Tue.Aug 01, 2023

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Refunds and your sales tax compliance

TaxConnex

It seems like a simple part of selling online. You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Simple. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? Pretty likely: At least one in every five products ordered online are returned, versus maybe one in 10 bought in a brick-and-mortar store.

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Navigating Tax Compliance Challenges in the Trucking Industry: How Our Tax Firm Can Guide You

MyIRSRelief

Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Non-compliance can lead to severe penalties and financial setbacks, posing a significant threat to their operations.

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Trending Sources

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What it Will Take to Build a Better Automotive Battery Supply Chain

RogerRossmeisl

As posted to the Climate One YouTube page on 7/17/23 Run Time 58 minute, 47 seconds (when beginning at Time Stamp 21:33) Climate One clip description: Demand for lithium ion batteries is expected to grow 500% by 2030, and the race for raw materials is on. Lithium mines around the world are opening or expanding, while children as young as six in the Congo carry sacks of cobalt-laced rocks on their backs for less than $2 a day.

CPA 26
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Audit fees triple in 20 years

Accounting Today

At the same time, the number of companies reporting their audit fees has dropped roughly 20%.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

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.

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New Canopy Insights Advances Practice Management Analytics with AI Features

CPA Practice

Accounting practice management software maker Canopy is expanding the AI-driven capabilities of its software with the introduction of Canopy Insights. This new feature of the Canopy platform will provide accounting professionals with powerful insights to develop deeper advisory relationships with their clients and simplify complex firm data in a few clicks.

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Paving the way for a wealth tax?

Accounting Today

The Supreme Court will hear Moore v. U.S., a case involving taxation of unrealized income that experts suggest could have major ramifications.

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More Trending

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Small-business wage and job growth slowed in July

Accounting Today

Hourly earnings growth for small business employees declined 0.07% to 3.95% and fell below 4% for the first time in more than two years, while hiring also moderated, according to Paychex.

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Dreamin’ Events: Small but Mighty Salesforce Community Conferences

Accounting Seed

For the first time, Accounting Seed attended two Dreamin’ events— Texas Dreamin’ and Tahoe Dreamin’ —and they did not disappoint! While we love the energy and excitement of the big Salesforce World Tour and Dreamforce events, the local feel of these events gave us a chance to get to know fellow Trailblazers in a new way. Dreamin’ events bring together local Salesforce users, employees, and partners with a focus on topics related to Salesforce design, development, administration, architecture, an

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Essential Strategies for Cost Control Success

Basis 365

Effective cost control is crucial for maintaining profitability and driving sustainable growth in today's competitive business landscape. One key aspect of achieving this is implementing robust spending management practices. By actively managing your organization's spending, you can identify areas for optimization, reduce unnecessary expenses, and make informed decisions that align with your strategic objectives.

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Siegel Solutions Partners with NE Paradigm, Full-Service Marketing Team

CPA Practice

Siegel Solutions, a provider of outsourced accounting, and a QuickBooks Solutions Provider, has partnered with NE Paradigm, a full-service marketing solutions team. Siegel selected NE Paradigm to further enhance its brand presence and expand its reach in the market. Siegel Solutions aims to leverage their expertise in strategic marketing, digital advertising, content creation, and brand development.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

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.

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QB Talks is All About Top 100 from Our List-makers

Insightful Accountant

Join Murph and Gary on Wednesday, Aug. 16, at 2 p.m. (EST) as they visit with members of the 2023 Top 100 and Categorical Awards.

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The Technology Lab Podcast – Audit Technology and Data – August 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, talk with Jeff Gramlich of Validis about changes in audit technology and the role of data. Use the podcast player below to listen.

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Optimize your crypto accounting

Accounting Today

Ensure compliance with FASB guidelines and build business confidence.

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Final CMMC Rule: July 2023 Update

Cherry Bekaert

In this episode, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contractor Industry practice is joined by Matt Schiavone , Managing Director, and Brian Kirk , Senior Manager in the Firm’s Information Assurance & Cybersecurity practice to discuss the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0 program milestone and what contractors should be doing now to prepare.

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Doing More With Less: The Modern Finance Miracle

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.

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Meet Top 100 ProAdvisor Jacqueline Edwards

Insightful Accountant

In the first of our spotlights of the Insightful Accountant 2023 Top 100 ProAdvisors, we sit down with Business Pipeline's Jacqueline Edwards. See how she continues to stay on top of her game.

Gaming 52
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Organizations and Their Next Steps in Community Development

Cherry Bekaert

Best practices for organizational growth include starting with an assessment of the current strengths and weaknesses, followed by the development of a measured approach before taking the next steps on their community development journey. These organizations need tools, just like a compass, to ensure the most efficient path for their strategic growth, mission readiness and expansion opportunities.

Finance 52
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Omar Visram on Leveraging People, Processes and Technology

Insightful Accountant

On the latest episode of Accounting Insiders, Insightful Accountant's Gary DeHart and Enkel Backoffice Solutions' Omar Visram discuss how his company continues to drive AP as a service—and more.

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Accountants' global confidence shaky in Q2

Accounting Today

Economic confidence among accountants in North America grew in the second quarter, but declined in other parts of the world.

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8 Pillars of Leadership Development

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.

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Whats New in QBO: Receipt Capture for QuickBooks Checking

Insightful Accountant

If you are using QuickBooks Checking and the QuickBooks App on your mobile device, real-time receipt capture is just a snap away.

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AI Is Moving So Fast PwC Couldn’t Even Commit to a Year-Long Training Program

Going Concern

This stock photo might belong on r/itsaunixsystem but we’re quickly running out of AI stock photos so just deal. Saw something interesting in Fortune yesterday and thought it worth sharing as it gives us a look at PwC’s AI upskilling plans and demonstrates how difficult it is to train your people on a technology moving faster than any technology before it.

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Nuove Regole per la Documentazioe Sui Prezzi Di Transferimento

Menzies

Menzies LLP - A leading chartered accountancy firm. Dal 1° aprile 2023, i maggiori Gruppi internazionali (con un fatturato di Gruppo superiore a 750 milioni di Euro) sono ora tenuti a mantenere la documentazione sui prezzi di trasferimento secondo uno standardizzato formato OECD, composto da un Master File e un Local File. Inoltre, nel Regno Unito viene introdotto un requisito aggiuntivo chiamato “summary audit trail” (SAT).

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Using Roles to Build a Work Queue

Canopy Accounting

What's new: Create custom roles to help manage team assignments. Use these roles to populate a client record template for easy client creation. Or use the roles on a client record, task, subtask, or task template.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

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.

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Profit extraction for corporate owner managers

Menzies

Menzies LLP - A leading chartered accountancy firm. A fundamental question for most corporate owner managers is how to most efficiently extract profits from their company, especially in light of the frequently changing rules and tax rates / thresholds. It remains important to regularly evaluate your personal position, as there is no one-size-fits-all approach to profit extraction, and the best route will depend on your personal circumstances and the objectives of the company.

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St. Louis Inno Partnership: Take Part in the Post-COVID St. Louis Startup Funding and Outlook Survey 

Anders CPA

While the pandemic has ended and businesses have long moved on to a new normal, it’s important for startups and their investors to fully understand the current St. Louis startup ecosystem to make sure those next steps are as efficient and effective as possible. To help startups, entrepreneurs, startup investors and funding sources gauge how to move forward, and learn key, actionable items to take with them to pitch meetings and beyond, Anders has launched our inaugural Startup Funding and Outloo

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Emerging Trends in Fin Serv: What Service Providers Need to Know

CPA Practice

By Marly Broudie. In the ever-evolving world of financial services, staying ahead of the curve is crucial for service providers to meet the changing needs and expectations of their clients. The digital age has brought about a significant shift in marketing strategies, with emerging trends reshaping the financial services landscape. In this article, we will explore the latest trends that financial service providers need to know, including video marketing, influencer collaborations, chatbot integr

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IRS Officials Increase Focus On Transfer Pricing: 4 Key Takeaways From the Latest Communication

Withum

The transfer pricing landscape is constantly evolving with rapidly changing IRS policies/procedures, greater efforts directed towards effective enforcement, and identifying noncompliance among taxpayers. We have seen many indications of this. With the majority share of the Inflation Reduction Act’s $80 billion in IRS funding appropriated for tax enforcement, the IRS’s Large Business and International Division (LB&I) hopes it will lead to more transfer pricing work in the future.

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How to Set Better OKRs and Drive Results

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.

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Patriot Software Launches Its Summer Product Release Roundup

CPA Practice

Patriot Software, a developer of affordable and robust accounting software and payroll software for American businesses, has launched its Summer Product Release Roundup, available for viewing on its website. The comprehensive product feature lists represent Patriot Software’s commitment to constantly enhancing its software, ensuring it remains the best choice for American businesses needing efficient, cost-effective solutions.

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What to do if you fail to disclose your Airbnb Earnings

Menzies

Menzies LLP - A leading chartered accountancy firm. In light of HMRC’s recent investigation into Airbnb hosts and their earnings data, holiday-let property owners must take proactive steps to ensure they comply with tax regulations. It’s been observed that property owners have inadvertently or deliberately failed to disclose their earnings. Failure to declare earnings for tax purposes can result in a financial penalty or at worst, criminal prosecution.

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FASB Seeks Public Comment on Proposal to Improve Disclosures around Income Statement Expenses

CPA Practice

The Financial Accounting Standards Board ( FASB ) has published a proposed Accounting Standards Update (ASU) intended to provide investors with more decision-useful information about a public business entity’s expenses. Stakeholders are encouraged to review and provide comment on the proposal by October 30, 2023. “Feedback from investors on our 2021 Agenda Consultation provided us with a fresh approach to providing more detailed information about a company’s expenses, which investors have said i

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Deferring capital gains tax on a business asset

Inform Accounting

The potential to be charged capital gains tax (CGT) arises with the sale or gift of an asset. Deferral of the charge is possible with reference to business assets using 'hold-over' relief, thereby avoiding an immediate CGT charge for the donor. The donee takes over the donor’s CGT base cost, increasing any gain on the eventual sale. The relief is commonly used in the transfer of a business to a company because it allows the debtors and creditors to be retained by the sole trader outside of the c

Tax 52
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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

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.