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You load up your Quickbooks file. It's back in January? But that was six months ago! Running a business takes a lot of time. It's easy to fall behind on things like bookkeeping. It's much worse if you're also falling behind on things like vendor payments and tax filings.
Once you’ve determined your requirement to collect and remit sales tax, you’ve set-up a process to charge sales tax, and you have registered with each required state, you need to consider how you will manage the return filing process. Many automated solutions claim they manage this process for you, but when reading through these important aspects, you may realize you’re the one left still managing the heavy lifting and each one is very important to ensure accurate and on-time filings.
What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. It is not only time-consuming, but also takes lots of resources as the process can take from a few weeks to several months. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.
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.
Withum is excited to welcome Megan Budd to the Firm’s Cannabis Sector Services Team as an Audit Principal. With over 16 years of experience, Megan’s industry expertise includes healthcare, not-for-profit and employee benefit plans, in addition to her specialty in the Cannabis sector. She will grow the Firm’s presence in the industry in the New England region, complementing the efforts of Withum’s Providence, RI office.
As workers return to the office, many auditors find themselves visiting client sites for the first time. Given the two-year in-person hiatus we’ve all just been through , even first-year seniors don’t know how to approach audit room protocols. So h ere are some key rules you should follow in the audit room whenever you do go back : Rule #1: Answer personal calls AFTER you are all the way out of the room.
Finding a rock star talent is one of the biggest challenges of being a business owner. Curious to know how and where to find them? In this podcast episode, I’ve shared my 9 best strategies so you can hire the right team member for your firm. Listen below. 0:46 – My first strategy is to leverage my existing team by asking them first if they know anyone for the new role. 1:28 – The second strategy is to create LinkedIn and Indeed job postings. 1:46 – The third strategy is to sea
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.
7 min read. When the pandemic hit, we went from a world of emotional connection to a world of disconnection in an instant, and as a result, the question that has been on the mind of every CEO over the last two years has been: How do you maintain your workplace culture in a hybrid world?
Turning a business idea into reality is one of the most rewarding things an entrepreneur can do. Whether it’s winning new customers, making your first hire or closing a fundraising round, there are countless milestones to look forward to along the startup journey. But, of course, it’s not without its challenges. Which is why it’s a good idea to learn from those who’ve paved the way, like Pauline Fetaui.
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.
The desktop application will be retired in certain versions of Windows 10 on June 15, 2022. See why Microsoft is recommending why you should do a self-transition before then.
The 34th annual Hoops for Hope tournament attracted 639 colleagues, clients and friends of the firm to support the 2022 Anders Charity of Choice, Lydia’s House. Karen Kirk and Ellie Moore of Lydia’s House joined Anders for a celebration lunch where a check for $17,000 was presented, the largest donation through Hoops for Hope yet. ABOUT HOOPS FOR HOPE.
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After doing a quick Google search, it looks like the PCAOB hasn’t punished a public accounting firm for failures in its audits of brokers and dealers since 2016. But top 25 firm Citrin Cooperman broke that drought yesterday after being fined $200,000 by a disappointed PCAOB for violating standards related to broker-dealer audits. And three Citrin Cooperman partners were fined a total of $55,000 for their roles in the firm’s subpar auditing.
With Hispanic-owned small businesses one of the fastest-growing demographics in the US, Xero's Jackie Velez explains why that growth must be supported.
I’m not a betting man, and that’s a good thing because, while not official yet, I would have bet my house on KPMG UK being fined more than £15 million for the whole Carillion audit fiasco. The Financial Times reported this afternoon: KPMG is set to be hit with its biggest-ever fine in the UK after a tribunal found that its auditors deliberately misled regulators during routine inspections of its work.
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.
Customers speak louder than companies, right? That’s why we’re happy our customers have voted us to win multiple Spring 2022 Capterra awards for our practice management software. We’ve always thought highly of our product, but it’s always nice to hear it from someone else. Check out what we won for below!
When it comes to running a business, you take on the role of decision-maker. And, one of your biggest decisions is if you should use cash or accrual accounting. What’s the difference? How in the world does accrual or cash accounting impact your books? We’re gonna break it all down for you. Your accounting software […] READ MORE.
Menzies LLP - A leading chartered accountancy firm. The Government’s decision to subsidise the development of 1,500 hectares of brownfield land for the creation of 160,000 new homes provides developers with increased motivation to examine the opportunities available in undertaking projects of this nature. Along with the grant funding available on application, the existence of land remediation relief, which is based on 150 per cent of qualifying expenditure and in turn allows developers to furthe
QUESTION: I have been asked to make sure that our 401(k) plan is ready for a possible sale of the company. I understand that buyers typically ask for a determination letter to help assure that a plan is qualified, so I’m thinking we should get one. But I’ve heard that determination letters aren’t always available. When can a 401(k) plan be submitted for a determination letter?
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Menzies LLP - A leading chartered accountancy firm. The recent reinstatement of a 20% VAT rate is likely to cause severe financial difficulty for many hospitality and leisure (H&L) businesses at a time when costs are rising and many enterprises are still recovering from COVID lockdowns and restrictions. To stay afloat, they must carefully manage expenditures and keep a tight eye on cash flow.
E.F. v. United HealthCare Ins. Co., 2022 WL 957200 (D. Utah 2022); Anne A. v. United HealthCare Ins. Co., 2022 WL 957199 (D. Utah 2022). E.F. Anne A. In two nearly identical rulings, a federal trial court has concluded that plan-imposed deadlines for filing lawsuits did not apply because they were not set forth in final denial letters to the participants.
“Three things in human life are important: the first is to be kind; the second is to be kind; and the third is to be kind.” – Henry James. As I have for many years (decades?), I urge every CPA practitioner to get their house in order. That means having a solid foundation to build on. Acquirers don’t want to merge with a firm that is unorganized and/or dysfunctional.
CMS Toolkit on COVID-19 Vaccine: Health Insurance Issuers and Medicare Advantage Plans (Apr. 6, 2022). Available at [link]. CMS has updated its COVID-19 vaccine toolkit to describe the COVID-19 vaccines and boosters currently authorized or approved by the Food and Drug Administration (FDA). Non-grandfathered group health plans must cover without cost-sharing any vaccine authorized under an Emergency Use Authorization (EUA) or approved under a Biologics License Application (BLA) by the FDA immed
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