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The start of a new year always feels fresh. You’re looking ahead and probably getting excited about everything your startup will accomplish in 2023. Don’t forget to look behind you, though. Even as you vision-cast for the year ahead, you need to wrap up the year behind you. Don’t shoot the messenger: it’s time to do your taxes. Yes, you technically have until April 18.
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you. Savings bonds Series EE U.S. savings bonds offer two tax-saving opportunities when used to finance college expenses: You don’t have to report the interest on the bonds for federal tax purposes until the bonds are cashed in, and Interest on “qualified” Series EE (and
By Rachel Blakely-Gray. The new W-4 form for 2023 is now available. Unlike the big W-4 form shakeup of 2020, there aren’t significant changes to the new form. But that doesn’t mean you shouldn’t familiarize yourself with it. You may not file Form W-4 with the IRS, but your payroll depends on it. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax.
If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years. SECURE 2.0 is meant to build on the original SECURE Act, which was signed into law in 2019.
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.
The Department of the Treasury and the Internal Revenue Service have provided new guidance to establish a program to provide solar and wind power to certain low-income areas under the Inflation Reduction Act. Notice 2023-17 (.pdf) establishes the Low-Income Communities Bonus Credit Program and provides initial guidance for potential applicants for allocations of calendar year 2023 capacity limitation.
Earlier this month, short seller Hindenburg Research dropped a report called Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History (report here ) full of bullet points outlining the findings of Hindenburg’s two-year investigation into the Indian conglomerate. Among the various accusations: shoddy controls, nepotism, questionable shell company relations, and poor transparency (we’re being mild here).
Interest rates charged by the Internal Revenue Service rates will remain the same for the calendar quarter beginning April 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the new rates: 7% for overpayments (payments made in excess of the amount owed), 6% for corporations. 4.5% for the portion of a corporate overpayment exceeding $10,000. 7% for underpayments (taxes owed but not fully paid). 9% for large corpo
Interest rates charged by the Internal Revenue Service rates will remain the same for the calendar quarter beginning April 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the new rates: 7% for overpayments (payments made in excess of the amount owed), 6% for corporations. 4.5% for the portion of a corporate overpayment exceeding $10,000. 7% for underpayments (taxes owed but not fully paid). 9% for large corpo
Article photo from a scathing review of KPMG’s metaverse space Alright folks, the moment we’ve been saying wasn’t going to happen to us now has: layoffs are here. Bet you feel dumb for saying firms won’t be laying anyone off because they don’t have enough people to lay off eh? I know I do. We’ve been informed that layoffs began today in KPMG’s advisory practice, less than 2% of the workforce has been axed.
Technology advancements are continuously reshaping not only the way we work, but fundamentally how we operate across nearly every industry. With new innovations unlocked almost daily — each with a unique promise to transform how we do business — how do busy small businesses and their advisors separate the fad from the fancy? We’ve been doing a lot of thinking about this recently, and it’s a priority for us this year to help demystify some of these trends and shine a light on those which could be
Xero is continually updating and upgrading its accounting platform to provide an enhanced look and feel, improved accessibility and faster features. Here are some of its recent and in-progress enhancements.
It’s that time of year again. As summer winds to a close, the days will start getting shorter as the workload ramps up. For those working in payroll, that can only mean one thing: year end is approaching. There are four key changes in New Zealand payroll calculations for the new financial year: Adult minimum wage will increase to $22.70 per hour from 1 April 2023 The annual ACC earner levy rate is increasing from 1.46 percent to 1.53 percent The annual ACC earner levy threshold is increasing to
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.
As an employer, you have a million and one tasks to take care of. One of these oh-so-important responsibilities is withholding payroll taxes from employee wages. And, your job doesn’t stop there. You also need to fill out and remit certain withholding forms to your state. Get to know all about employee withholding by state.
A business requires accurate, clean books that are updated at least monthly. You have two options to achieve this goal: hire a professional or have a year-end accounting firm handle your bookkeeping. It's OK to ask an outsourced accountant for help with your daily books. Before we get into the reasons, let's first look at how the duties of accountants and bookkeepers differ.
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 Internal Revenue Service has announced changes to the Bridge phase of the Compliance Assurance Process (CAP ) program. CAP is a cooperative pre-filing program for large corporate taxpayers. The CAP program began in 2005 as a way to resolve tax issues through open, cooperative and transparent interactions between the IRS and taxpayers before the filing of a return.
Stay Connected Digital transformation spans across people, process, technology and culture. Creating a data-driven culture starts at the very top, meaning that leaders must lead by example. Having reliable data and analytics in place is an essential part in enabling organizations to make smarter decisions and better business outcomes. In this episode of Cherry Bekaert’s Digital Journeys podcast series, Jim Holman , Director and Strategy & Operations Leader, and Dan Mitzenmacher , Managing
Import cargo volume at the nation’s major container ports is expected to drop to nearly its lowest level since the beginning of the pandemic this month, according to the Global Port Tracker report by the National Retail Federation and Hackett Associates. “With the U.S. economy slowing and consumers worried by rising interest rates and still-high inflation, retailers are importing less merchandise,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
Navigating an inflation while the Federal Reserve is trying to cause a recession is confusing and could have harsh consequences. I will be presenting a webinar Thursday February 16 at Noon for the East Brunswick Public Library on what is happening and might happen and how to protect yourself and be prepared for either eventuality or anything in between.
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.
Retail sales bounced back strongly in January as inflation eased and income grew, according to a new report from the National Retail Federation. “Despite inflationary headwinds, January retail sales show the resiliency of consumers in how they manage their budgets and make decisions on how, when and where to spend their hard-earned dollars,” NRF President and CEO Matthew Shay said.
Helping clients navigate the complexities of property tax is important for accounting firms. Property taxes and tax rates, which vary greatly among states and localities, can be confusing and are a major area of tax exposure and risk. Firms can strengthen their role as a trusted advisor by helping clients effectively manage their property taxes and mitigate risk.
What's New: Canopy already de-siloed email with the global inbox, sharing inboxes, and the communication tab. With privatizing emails, you get the perfect balance of breaking down the silo while still maintaining control. Privatizing allows you to mask the content of the email and the attachments, but the subject lines, dates, and recipients will still be viewable.
Stripe is a powerful payment gateway that many buyers and sellers commonly use. From the business standpoint, offering Stripe-supported payments requires integration with your accounting system through a designated software. In this article, we’ll show you how to connect Stripe to QuickBooks using Synder in a few easy steps. We’ll also consider the advantages of using Synder for Stripe QuickBooks integration.
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.
Looking for ways to reduce workload while increasing your firm’s capacity? In this episode, I’ll discuss 2 steps you can take to strategically grow your business while reducing work hours and getting the most out of your capacity. Listen Below. 0:33 – The question I got from social media is relevant to a lot of firm owners: How can busy firm owners find time to work on improving their business and reaching their goals while running the firm?
See how Transcard leads digital payments with real time payments, card issuance, ACH, cross border payments and instant payments by adding workflows and Open APIs.
Federal and Alabama taxes are collected on a pay-as-you-go system, either through withholding or estimated taxes. Do You Need to Pay Estimates? If your income is mainly from wages and you always have a substantial balance due at tax time, increase withholding and pass on making estimates. Otherwise consider if the following applies to you: Self- employed individuals with who expect to owe more than $1,000 Individual with substantial investment income not covered by withholding such as rents, cap
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.
Our spotlight of the Insightful Accountant 2022 Top 100 ProAdvisors continues with Lynda Artesani. See what she says it takes to stay on top of your game.
Menzies LLP - A leading chartered accountancy firm. Roberto Lobue – Partner & Retail Specialist As your retail and wholesale business grows there will become a point in time where you need to upgrade your retail accounting and reporting systems to improve your reporting capability and insight to enable you to make smarter business decisions.
It’s February and love is in the air. (So are taxes. And Super Bowls. And bad tax software commercials – but I’ll leave those for another day.) Flowers and chocolates showed up on desks and countertops this week with sweet little romantic notes. Restaurants set those sweetheart menus for their in-love diners. And if you’re one of the “lucky” ones with heart eyes for that special someone, you might have spent $200 (or more) on your significant other this year.
U.S. property taxes, which help fund roads, schools, emergency medical services, and other services, are a vital source of revenue for state and local governments. Property tax rates vary greatly among states and localities and can have a major impact on business investments and where people decide to live. Accountants who help clients effectively manage property taxes can further strengthen their role as a trusted advisor.
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.
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