Accounting Insight

JANUARY 19, 2023

There’s no denying that remote teams are trending! Building an offshore remote team is a great way to tackle the ongoing skills shortage, gain a competitive advantage and deliver better quality. But how do you efficiently manage your remote teams? Here’s 7 tips to help your firm manage your time, energy and resources more effectively. Set expectations and methods of engagement – Remote work is more efficient when expectations are set on work schedules and accountability.

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TaxConnex

JANUARY 19, 2023

We hear a lot about “sales tax obligations,” but who exactly in your company is “obligated?” You are, at least in many states. Since the Supreme Court’s 2018 Wayfair decision, many businesses are required to collect and remit sales tax in multiple states – more so than pre-Wayfair. Various “responsible party” laws across the country mean that a business itself is not the only one at risk: CEOs, CFOs, directors and other execs can be responsible for sales tax shortfalls.

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Wisconsin Georgia Texas tax return 191

CPA Practice

JANUARY 19, 2023

By Arianna Campbell. Are you the type of leader who inspires transformation in your firm? Do you believe in pushing the boundaries and challenging norms to propel your business operations forward? If so, you likely possess many attributes of a transformative leader. Transformative leaders understand what needs to be done and can identify unique opportunities as well as navigate complex issues within their organizations.

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Start-ups Account accountant accounted 137

Going Concern

JANUARY 19, 2023

Life at Deloitte was trumpeting an appearance on Glassdoor’s latest Best Places to Work list yesterday so naturally we swung over to the list to see what’s what. At @Deloitte , we’re committed to our people’s professional & personal well-being. That’s why we’re thrilled our organization has been named one of the Best Places to Work in 2023 by @Glassdoor.

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accounting firms Account accountant accounted 106

Advertiser: Paycor

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

CPA Practice

JANUARY 19, 2023

The Tax Blotter is a round-up of recent tax news. The tax law provides generous tax breaks to investors in real estate, but there are several key tax pitfalls to watch out for. Be more active. Generally, deductions resulting from passive activities are limited to the income received from passive activities, so you can’t write off a current loss. Real estate is automatically treated as a passive activity.

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Real Estate Tax tax return income tax 122

Canopy Accounting

JANUARY 19, 2023

According to SUMO , the average financial return for email marketing is $44.25 for every $1 spent! Still think email marketing shouldn’t be a priority for your tax practice during tax season?

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Tax 104

Anders CPA

JANUARY 19, 2023

Each year, Anders employees nominate not-for-profit organizations to be considered the firm’s Charity of Choice. After tallying the votes for 2023, our Anders Charity of Choice is Missouri Veterans Endeavor (MOVE-STL)! The Charity of Choice program, which is now in its 18 th year, supports the nominated organization through a combination of fundraising activities and volunteer efforts.

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Missouri Hospitality CPA Gaming 98

Cherry Bekaert

JANUARY 19, 2023

Contributor: Jack McKee, Manager | Government & Public Sector Governmental Accounting Standards Board (GASB) Statement 96 provides guidance and addresses how the costs and investments for subscription-based information technology arrangements (SBITAs) are accounted for and disclosed by governmental entities. These changes are effective for fiscal years beginning after June 15, 2022, and the time is now to implement the pronouncement.

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Technology Government accounting standards financial statements 98

Insightful Accountant

JANUARY 19, 2023

Everyone wants to streamline their logistics. To help out, PACK & SEND's Nicholas Woodward shares the seven best accounting practices for managing your accounts effectively.

management accounting 96

management accounting management accounts Account accountant 96

Cherry Bekaert

JANUARY 19, 2023

Have you ever had a difficult experience with implementing your enterprise resource planning (ERP) project? If so, you’re not alone. ERP implementation failures are quite common due to numerous factors including (but not limited to) poor applications, insufficient processes and training, and internal resistance. In this 5-minute video, we examine the primary indicators of a faltering ERP deployment and steps that can be taken to rescue the effort.

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Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

Insightful Accountant

JANUARY 19, 2023

With the New Year comes change, and that means enhancements to QuickBooks. January is bringing banking enhancements with it for QBO and QBO-Accountant users.

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quickbooks Account accountant accounted 92

AccountingDepartment

JANUARY 19, 2023

As a business owner, getting paid in full and on time is crucial for a healthy cash flow. However, late payments and bad debts are a constant threat looming over an accounts receivables (AR) team. Accounts receivable reports are a key tool for businesses to manage their AR balances, forecast cash inflow, and stay on top of overdue payments.

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Account accountant accounted Technology 83

MineralTree

JANUARY 19, 2023

We’ve officially entered the new year which means strategy planning is at the top of every leader’s mind. Inflation and rising interest rates have most firms worried about their cash flow, and thus, finance departments are doing all they can to reduce overhead and organizational inefficiencies in 2023. Why AP Automation is Key to a Strong Year Most finance predictions for 2023 focus on business process improvements and cost savings, as opposed to ground-breaking new innovations.

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Accounts Payable Automation accounts payable Technology AP Automation 76

Going Concern

JANUARY 19, 2023

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. Pretty sure some of these people showed up in Accountants Behaving Badly , an irregular feature we publish here when Google News results become full of accountant and bookkeeper headshots.

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Tax tax return Gambling tax preparation 60

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

CPA Practice

JANUARY 19, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review BooXkeeping , a nationwide provider of affordable outsourced bookkeeping services to small and medium-sized businesses. Use the player below to listen to the podcast.

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Technology bookkeeping services bookkeeping CPA 59

ThomsonReuters

JANUARY 19, 2023

Leveraging a powerful workflow engine can deliver the intelligent tax automation , control improvement, and greater visibility tax teams need to make more strategic decisions, mitigate risk, and successfully orchestrate the entire direct tax process. The current state of tax data collection Unfortunately, too many professionals are wasting their time during the busy tax season, spending as much as 80 percent of their work hours collecting and entering information, verifying its accuracy, and con

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Tax corporation tax Start-ups tax planning 59

Cherry Bekaert

JANUARY 19, 2023

Have you ever had a difficult experience with implementing your enterprise resource planning (ERP) project? If so, you’re not alone. ERP implementation failures are quite common due to numerous factors including (but not limited to) poor applications, insufficient processes and training, and internal resistance. In this 5-minute video, we examine the primary indicators of a faltering ERP deployment and steps that can be taken to rescue the effort.

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ThomsonReuters

JANUARY 19, 2023

Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2023, 29 CFR Part 2575, 88 Fed. Reg. 2210 (Jan. 13, 2023) Available at [link] The DOL has announced the 2023 annual adjustments to the civil monetary penalties for a wide range of benefit-related violations. As background, legislation enacted in 2015 requires annual adjustments to certain penalty amounts by January 15 of each year (see our Checkpoint article ).

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Tax Account accountant accounted 59

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Technology

CPA Practice

JANUARY 19, 2023

ICPAS SUMMIT23 is one of the largest CPA state society events in the U.S., attracting nearly 1,000 CPAs and finance professionals interested in industry trends, innovation, product launches and networking with others within specific industry markets. When: Aug.

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CPA Illinois cpas Finance 52

ThomsonReuters

JANUARY 19, 2023

Affordable Care Act Information Returns (AIR) Operational Status; Affordable Care Act Information Returns (AIR) Production Shutdown/Cutover Schedule (Jan. 10, 2023) IRS webpage Announcement The IRS has announced the production schedule for filing Affordable Care Act (ACA) 2022 information returns electronically through the ACA Information Returns (AIR) System, with the 2023 filing season beginning on January 13, 2023.

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Tax Account accountant accounted 59

LSLCPAs

JANUARY 19, 2023

Many of our clients own or want to buy a plug-in electric vehicle (EV) or Fuel Cell Vehicle (FCV). And we’ve gotten a lot of questions about how this affects taxes as we embark on tax season. Most importantly, the IRS has changed the “New Clean Vehicles” tax credits for 2022 or before, and 2023. The post 2022 and 2023 Electric Vehicles Tax Credits appeared first on LSL CPAs.

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Tax cpas 52

Menzies

JANUARY 19, 2023

Menzies LLP - A leading chartered accountancy firm. Sam Goodsell – Director The key to going global in the tech sector is both in the planning and seeking of advice where expertise is not held internally within the business. As key members of the HLB International network we are connect to over 150 local accounting and advisory firms which we regularly work with to overcome many of the steps which we’ve explored here.

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Technology chartered accountant payroll tax payroll 52

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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

Technology

Patriot Software

JANUARY 19, 2023

Tax season sneaks up fast. For many business owners (and individual tax filers!), it’s an overwhelming whirlwind. At the end of it, you may vow to prepare better for next year. And then … whoops! It’s next year already. Kick procrastination and stress to the curb with these tried-and-true tax planning strategies.

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tax planning Tax business tax Account 52

Ryan Lazanis

JANUARY 19, 2023

Are you overwhelmed by the hundreds of client emails you get every day? In this episode, I’ll give you 6 tips for taking back control of your inbox to keep “overwhelm” at bay. Listen Below. 0:31 – How the heck do I stop the never-ending barrage of emails coming from my clients? 1:23 – This firm owner has drastically eliminated the vast majority of his client emails. 1:39 – The solution to eliminating these emails really comes down to a combination of having th

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bookkeeping Technology Account accountant 52

Snyder

JANUARY 19, 2023

Tax season is the time when accounting firms and CPAs earn the biggest part of their profit. At the same time, it’s the most stressful period for them. The amount of work drastically increases, as well as the time pressure and mental load. Surviving tax season is a skill that any accountant has to develop, and the earlier, the better. The general workload of the busy period includes getting the end-of-year info from clients, reconciliation, working with tax receipts, income reporting slips, prep

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CPA Practice

JANUARY 19, 2023

AICPA & CIMA, which together form the Association of International Certified Professional Accountants, will be key sponsors of the first IFRS Sustainability Symposium , which will be held next month in Montréal, Canada. AICPA & CIMA’s role as the Feb. 17 event’s platinum sponsor reflects their continued commitment to fostering high quality sustainability accounting and reporting through guidance and professional development resources, as well as their support for clear and globally consi

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CPA Account accountant accounted 52

Advertiser: Paycor

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

ThomsonReuters

JANUARY 19, 2023

QUESTION: We’ve heard that the requirement to report prescription drug and health care spending to the government has been delayed. What are the reporting requirements and when are the reports due? ANSWER: Legislation passed in 2020 requires group health plans and insurers to annually report prescription drug and health care spending, premiums, and enrollment information to the government (see our Checkpoint article ).

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Hospitality Government Tax Account 52

CPA Practice

JANUARY 19, 2023

Break through barriers that stand between you and your success. The pace of change in our profession is not slowing down, and we need to intentionally seek opportunities to grow and achieve more. At the NJCPA 2023 Convention & Expo, you will discover new ways to enhance your business, organizational culture, client service and professional development.

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New Jersey Account accountant accounted 52

FraudFiles

JANUARY 19, 2023

After more than 25 years conducting fraud investigations, I have learned a lot about fraudsters, their methods, and the companies they work for. Hotlines cut fraud losses in half. Anonymous reporting mechanisms like fraud hotlines decrease the cost of internal fraud.

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Menzies

JANUARY 19, 2023

Menzies LLP - A leading chartered accountancy firm. Commencing on 16 January 2023, HMRC has started to issue letters to taxpayers who they believe have undisclosed income from their online trading activities. The letters are based on third-party information HMRC has obtained and should not be ignored, even where the taxpayer believes the information HMRC holds is inaccurate or incomplete.

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chartered accountant tax return Tax Legal 52

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