Mon.Jul 17, 2023

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Mastering Tax Planning: Proven Strategies to Minimize Your Tax Liabilities

MyIRSRelief

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. In this comprehensive guide, we will explore various tax planning techniques and strategies that can empower you to keep more of your hard-earned money while staying in full compliance with the tax laws.

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Art of Accounting: No pipeline myth

Accounting Today

Today's new partners will be tomorrow's leaders, just as yesterday's new partners are today's leaders.

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Taxpayers Warned About Frivolous Tax Claims

CPA Practice

Have you ever heard someone say something similar to the following? “I am an American citizen and I don’t have to pay any taxes. It is unconstitutional for the IRS to impose income taxes on individuals residing in this country. This was not the intent of our Founding Fathers who fought against taxes are there was no income tax in place when the Declaration of Independence was signed.

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Nonprofit Spotlight: Advocating For Human Rights, Not Special Rights

GrowthForceBlog

Founded in Georgia, disABILITY LINK is a Center for Independent Living (CIL) organization that aims to help people with disabilities achieve their independent living goals.

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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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Tax Issues When Selling a House After a Divorce

CPA Practice

What are the tax consequences regarding a home sale if you and your spouse split up or divorce? The home sale exclusion remains one of the biggest and best tax breaks on the books. If a married couple filing jointly qualifies, they can exclude from tax up to a half million dollars of their profit when they sell their principal residence. However, you must meet certain requirements spelled out in the tax law.

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Exciting Artificial Intelligence Applications To Consider for Your Business

Cherry Bekaert

Everyone is talking about artificial intelligence (AI) these days, but did you know that it has been around for years in back-office settings like IT and finance? However, with the boom created by ChatGPT and generative AI, we’re starting to see applications sprouting up for new front-office settings. In this episode of Cherry Bekaert’s Digital Journeys podcast, Hisham Nabi , Managing Director of Digital Advisory, and Rashaad Balbale , Senior Manager of Strategic Growth and Innovation, will di

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Intuit Launches App for Tracking Worker Hours, Schedules, and PTO

CPA Practice

Employees of small and larger businesses often need to use disconnected tools to track their work hours, schedules, and paid time off, leaving them frustrated and uncertain about finances on payday and between paychecks. Today, Intuit Inc. alleviates these pain points on a global scale with the launch of the new QuickBooks Workforce mobile app. Intuit is the global financial technology platform that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp.

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Nonprofits benefit from remote accountants

Accounting Today

Despite the return to the office following the easing of the COVID pandemic, some accountants who work with nonprofit organizations are still working remotely as well.

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Monday Morning Accounting News Brief: Deloitte CEO Says He Doesn’t Deserve His Pay; The Accountant Shuffle | 7.17.23

Going Concern

Australian media is still all up in PwC’s colon, this time it’s news.com.au telling us that partner pay at PwC Australia is “honestly eye-watering.” Partner pay figures were provided to the Senate as part of an inquiry related to the firm’s sharing of confidential government tax information. It’s understood PwC’s ex-CEO Tom Seymour was the highest-paid partner at the firm in the 2021-2022 financial year, with a salary of between $4.45 million and $4.5 million.

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New QuickBooks Workforce App Goes International

Insightful Accountant

In addition to the US, the new QuickBooks Workforce app is available to users in Canada, the UK and Australian. Users now can manage their work, pay and benefits within a single app.

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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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Top Risk Factors Facing the Insurance Industry in 2023

Cherry Bekaert

The insurance industry faces many pressures including very dynamic regulatory complexities, which presents companies with significant risks that impact financial and operational stability, and conversely, potential opportunities to embrace. This article outlines key strategic priorities and risk factors facing the insurance industry. Rapidly Evolving Regulatory Compliance Changes The pace of change in the insurance industry is increasing, which has caused the number of available insurance produc

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Inside the SBA's new rules

Accounting Today

Small Business Administration loan expert Shannon Hay talks about the changes to the SBA's new SOP around lending, and what they mean for accounting firms and their clients.

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401(k) Plan Asset Report and Reconciliation

Anders CPA

Your 401(k) plan management team, including the plan administrator and trustee , are in charge of the establishment and maintenance of the plan’s internal controls. The plan management team is also responsible for the presentation of available net assets for benefits and other plan financial statements. Management is also accountable for the implementation of effective internal control to make sure that investment performance is monitored and reported accurately so that corrective action can be

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Succession Planning for Solo Practitioners

Insightful Accountant

In our upcoming webinar, join Tax Titans' Alan Blakeborough as he discusses why succession planning matters for today's solo accountants and small firms. Join us, Wednesday, July 19, at noon (EST). You can register here.

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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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Key Highlights from 50th GST Council Meeting

VJM Global

GST Council meetings have completed its half century with 50th GST Council meeting held on 11th July 2023 at New Delhi under chairmanship of Hon’ble Union Finance & Corporate Affairs Minister. 50th GST Council meeting concluded providing suggestions on: Changes in GST rates of various goods and services; Relaxation in filing of GSTR-9 and GSTR-9C for FY 2022-23; Clarification on issues raised by industries such as distribution of ITC , supplies to government departments etc.

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QB Talks is Wednesday, July 19, 2023, at 2 p.m. (EST)astern

Insightful Accountant

Learn how to protect yourself and ensure compliance with the mandates of the FTC and IRS when it comes to safeguarding personal information you obtain as part of financial transactions in the course of business.

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Wipfli merges in Clayton & McKervey

Accounting Today

The Top 20 Firm is expanding its presence in Michigan.

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State and Local Taxes Changing At Rapid Pace

CPA Practice

The number of changes in jurisdiction rates across the U.S. have increased by more than 40% through June 30 compared to the same period last year. Proving once again that agility will be crucial for businesses to meet their compliance obligations. This is according to the latest Mid-Year Sales Tax Rates and Rules report from Vertex Inc. , a global provider of tax technology solutions.

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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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California Charities–What to Report to the California Registry of Charitable Trusts

LSLCPAs

Don’t Forget to Register Your Raffle with Form CT-NRP-1. The California Attorney General monitors charities to ensure that their assets are used for charitable purposes only. This article discusses some of the details to note when filing California Registry of Charitable Trusts Annual Registration Renewal Form RRF-1, which all California charities must file in addition.

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Transforming Our Organizational Culture: A Comprehensive Approach to Retaining Talent

IgniteSpot

Learn how Ignite Spot uses culture to retain its talented accounting workforce. We have wonderful people that love working here because of these ideas.

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Enhancing Workplace Success: The Power of Employee Benefit Schemes

Menzies

Menzies LLP - A leading chartered accountancy firm. In today’s competitive job market, attracting and retaining talented employees has become a significant challenge for organisations. One powerful tool that can make a difference is a well-designed employee benefit package. Employee benefit schemes go beyond just salaries, offering a range of perks and advantages that enhance the overall work experience and create a supportive environment for employees.

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UBS picks EY as main auditor for Credit Suisse combo

Accounting Today

The audit fee for the combined group is expected to be less than the sum of the standalone audits, but would still be one of the highest in global banking.

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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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Using Bank Statements to Evaluate Income in Divorce

FraudFiles

Bank statements can be invaluable in evaluating an individual’s income for divorce and child support cases. They can help evaluate the person’s income, but an analysis of the expenditures is important too. Tracy Coenen talks about some of the specific ways the data can be analyzed.

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IRIS Software Group and cloudapps partner to supercharge business forecasting and decision-making

Accounting Insight

IRIS Software Group (IRIS), is today announcing a partnership with cloudapps empowering business leaders through AI-powered revenue intelligence tools to provide precise, efficient, and fast delivery of insightful predictions. With the Credit Protection Association reporting around 50,000 UK businesses fail every year due to a lack of cash flow, the need for accurate, real-time data to provide mission-critical insights on performance and financial forecasts is essential in today’s environm

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Trust in the Federal Government is in a Tailspin. Here’s How Agencies Can Rebuild It.

Cherry Bekaert

Initially published by GovernmentExecutive – Click for the article Agencies must prove they are competent and support values such as transparency. On May 25, 1961, President John F. Kennedy made a bold statement. “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth,” he said in a joint address to Congress.