Thu.May 12, 2022

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Tips To Stay Current on Your Bookkeeping

AccountingDepartment

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.

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5 Crucial Pieces of Your Sales Tax Compliance Filing Process

TaxConnex

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.

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Trending Sources

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Senate bill would deny tax breaks to cos. operating in Russia

Accounting Today

Tax 119
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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

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.

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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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Learners and employers call for more innovative accounting education

Accounting Today

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Withum Welcomes Megan Budd

Withum

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.

More Trending

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6 Rules of Audit Room Etiquette

Going Concern

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.

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Crypto investors are likely paying less than half the taxes they owe

Accounting Today

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9 Strategies to Find Rock Star Talent

Ryan Lazanis

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

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Tax Fraud Blotter: Lions and tigers and jail, oh my!

Accounting Today

Tax 98
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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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Managing Company Culture in a Hybrid World

GrowthForceBlog

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?

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U.S. budget deficit shrinks $1.6T on record tax surge

Accounting Today

Tax 98
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Where opportunity lies for startup success

Xero

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.

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IPSASB plans sustainability reporting standard for public sector

Accounting Today

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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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Time to Transition from Internet Explorer 11 to Microsoft Edge

Intuitive Accountant

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.

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DMJ & Co. and Johnson Price Sprinkle merge to form DMJPS

Accounting Today

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Prepping the Next Generation

Intuitive Accountant

Paystub Now's Vladyslav Kushneryk offers four ways you can optimize your finances for recent graduates.

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Hoops for Hope Raises $17,000 for Lydia’s House

Anders CPA

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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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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Future Market Insights Report

Intuitive Accountant

With nearly 7% CAGR, the enterprise accounting software market is expected to deliver a number of opportunities, according to an ESOMAR-certified report. See what the future holds.

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Citrin Cooperman Got Sent to Their Room By the PCAOB For Broker-Dealer Audit Screw-Ups

Going Concern

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.

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Building Bridges

Intuitive Accountant

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.

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KPMG UK Somehow Won’t Be Getting a Record Fine From the Financial Reporting Council For Carillion Mess

Going Concern

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.

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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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Canopy Named Top Performer in Accounting Practice Management Software

Canopy Accounting

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!

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Should I Use Cash or Accrual Accounting? Your Answer Awaits…

Patriot Software

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.

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The underclaimed tax relief to consider as part of new investment in brownfield sites

Menzies

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

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When Can a 401(k) Plan That Uses a Pre-Approved Plan Document Be Submitted for a Determination Letter?

ThomsonReuters

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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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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COSTS IN THE H&L SECTOR, WHAT’S THE IMPACT OF THE VAT INCREASE?

Menzies

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.

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Court Declines to Enforce Plan-Imposed Limitations Periods Not Disclosed in Benefit Denial Notices

ThomsonReuters

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.

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Getting Ready To Grow or Merge Up

RitaKeller

“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.

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CMS Updates Online Toolkit With Listing of COVID-19 Vaccines That Must Be Covered Without Cost-Sharing

ThomsonReuters

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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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.