Tue.May 24, 2022

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New internet phishing alert!

Inform Accounting

New emails and letters appearing to be from employees of the Government Legal Department / Bona Vacantia Division are in circulation. Emails are being sent from bogus email addresses purporting to be from members of the Bona Vacantia Division. These emails are not from the @governmentlegal.gov.uk address and may ask for confirmation of personal information or provide false links or download attachments.

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Multi-channel selling sales tax: Direct/retail sales

TaxConnex

Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. Nearly half the attendees of a recent TaxConnex webinar on multi-channel selling use direct/retail eCommerce as their main avenue of sales.

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Our New TechCrunch Article on Remote Work Laws & Tax Guidelines for Startups

BurklandAssociates

Burkland’s Managing Director, Tax Practice, Ardy Esmaeili, CPA contributed an article to TechCrunch this month; Starting up remotely? Keep these labor laws and tax guidelines in mind. Our team has Read More. The post Our New TechCrunch Article on Remote Work Laws & Tax Guidelines for Startups appeared first on Burkland.

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Are declining MSP revenues a profitability or a technical debt problem?

Accountant Advocate Submitted Articles

Decreasing MSP profits may be due to technical debt which can be resolved by improving service delivery and eliminating costly clients.

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How to Build the Ideal HR Team

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.

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Missouri Bill Reintroduces R&D Tax Credit and Changes to State and Local Tax Treatment and MO Works Program

Anders CPA

A Missouri bill, HB 2400, could affect businesses across the state with several provisions impacting the R&D tax credit, Missouri Works program, the State and Local Tax Parity Act and more. The bill was recently voted on and now heads to Governor Parson’s desk for signature. New Missouri R&D Tax Credit. While Missouri offers a sales tax exemption for research and development (R&D) purchases made within the state, Missouri has been without a state R&D tax credit since the program

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Current Crypto Wash Sale Rules

Withum

If you’re an investor in cryptocurrency, you understand the current market has not been friendly. Most cryptocurrencies are currently down over 50% from their all-time highs. The term diamond handing is the belief that one should hold onto an asset that is currently losing value – and gets thrown around a lot during bear and bull markets. It is important to understand the current cryptocurrency rules that can provide a tax advantage to those who wish to continually hold their assets.

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More Trending

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The Benefits to Upgrading Your Business' ERP System

AccountingDepartment

If you are thinking about upgrading your ERP system to a newer version, here are a few reasons why that would be an excellent idea. Here's a list of seven reasons why people are upgrading worldwide.

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Introducing the Xero Stripe App in the new Stripe App Marketplace

Xero

We all prefer work to be streamlined and simplified, but businesses today use dozens of digital tools and services. Ranging from apps that help address your business and industry pain points to payment providers and accounting software, there are a number of solutions that can help business owners access critical information or improve their workflows.

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Best Practices: How to Organize Receipts Electronically

Patriot Software

The IRS suggests that you keep receipts and other records for gross receipts, purchases, expenses, assets, and any deductions you want to make (entertainment, travel, gift expenses, etc.). And as your business grows, tracking receipts can be a difficult task indeed. But, it’s getting easier with e-receipts. Want to go paperless? Read on for a […] READ MORE.

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Top 100 ProAdvisor Nancy D'Amato on Seeing the Big Picture

Intuitive Accountant

As we move closer toward a sense of normalcy, we asked some of our Top 100 ProAdvisors to reflect on the challenges they have seen over the last 18-plus months. Here’s more in our series on how some of them weathered the storm.

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Planning Your Restaurant's Path to Profitability

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.

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Assessing Floor-Plan Debt

Withum

If you own a well-established automobile dealership and have a strong credit rating; it is likely that you are carrying floor-plan debt that you rarely think anything about. Based on history, one may assume that the debt being carried is secured by specific automobiles included in the inventory of new and used vehicles. Be warned that this may not be a valid assumption.

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Top 100 ProAdvisor of the Year Nancy D'Amato on Seeing the Big Picture

Intuitive Accountant

As we move closer toward a sense of normalcy, we asked some of our Top 100 ProAdvisors to reflect on the challenges they have seen over the last 18-plus months. Here’s more in our series on how some of them weathered the storm.

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Dealership Fraud: Post-COVID Risks, Detection and Response

Withum

The 2022 Association of Certified Fraud Examiners’ Report to the Nations (“ACFE Report”) estimates that the average fraud scheme lasts 12 months, costing organizations a median loss of $117,000 per case before detection. However, frauds committed by long-tenured employees and those with a higher level of authority are responsible for even higher losses.

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Which Big 4 Firm Had the Most Elijah Watt Sells Award Winners in 2021?

Going Concern

For years I would copy paste the entire list of Elijah Watt Sells Award winners on this here website even though I’m sure winners Googling themselves were the only ones reading said list. This year I’m continuing the tradition from last year and skipping past that to get right to the one thing all you p **g contest enthusiasts really want to know: which Big 4 firm scored the most Elijah Watt Sells winners in 2021?

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Accounting for a Retail Store: an Ultimate Guide

Snyder

As a business owner, you want to run your company as efficiently as possible. That means hiring a knowledgeable staff that can assist with accounting tasks. However, depending on where your retail store currently is from a revenue standpoint, bringing on a team might not be possible. The good news is that there are several accounting processes you can do yourself.

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How to Treat Inherited Individual Retirement Accounts

KROST

The SECURE Act, which became effective on January 1, 2021, changed the rules for inherited IRAs. Prior to that, the rules were very beneficial to non-spousal beneficiaries. The act upended the “life expectancy” rule for distributions and, in its place, created the 10-year rule for non-spousal beneficiaries. The act establishes a time period of 10 years for the “full” distribution of an inherited IRA, but ONLY for deaths occurring after 2019 and not for ALL beneficiaries.

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What’s better than a Memorial Day sale? How about a discount on your 2022 California business income taxes?

LSLCPAs

Q: What’s better than a Memorial Day sale? A: A day at the beach? The first great BBQ of the summer? A discount on your 2022 California business income taxes? Q: Wait a minute! Is California really having a sale on business income taxes? Can I really get a discount? A: No, not technically. But. The post What’s better than a Memorial Day sale?

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Make it easier for people to remember what you do

Mark Lee

We know, don’t we, that good communication is important in business. In my view, one of the most fundamental pieces of communication is how we talk about what we do. There are many challenges to be overcome here. We want to avoid sounding just like everyone else in the same field. We want our message to resonate with people and we want them to remember us and what we do.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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The Recovery Loan Scheme is ending soon

Inform Accounting

The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic. The Scheme is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period. At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022, with the following changes applying from 1 January 2022: The scheme will only be open

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Tracking Time Across the Globe

Intuitive Accountant

How Everhour is helping organizations everywhere equips their teams with the right tools to streamline timekeeping, and manage work hours, attendance and budgets seamlessly.

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IRS raids alliantgroup offices

Accounting Today

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You're Keeping Your Money Where?

Intuitive Accountant

Paystub Now's Vladyslav Kushneryk muses on why the age-old tradition of keeping money under your mattress is still a thing.

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Recruit and Retain New Blue-Collar Talent

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.

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Criticism

RitaKeller

“The final proof of greatness lies in being able to endure criticism without resentment.” — Elbert Hubbard. This is one of those “on my mind” posts. Just a warning in case you want to stop reading now based on my title: Criticism. Here’s the definition: Criticism: the expression of disapproval of someone or something based on perceived faults or mistakes.”he received a lot of criticism” Criticism seems to have exploded since we entered the world of

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Billionaire must stand trial in largest U.S. tax-evasion case

Accounting Today

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Financial automation in not for profit organisations

Accounting for Good

The post Financial automation in not for profit organisations first appeared on ACCOUNTING FOR GOOD.

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TIGTA faults IRS on security vulnerabilities

Accounting Today

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Social Media for Accountants: 7 Reasons Why + 11 Tips How

Ryan Lazanis

You may be wondering if social media for accountants is a good marketing tool for your firm. The answer is yes! There are many reasons why accountants should use social media to market their firms. In this blog post, I will discuss the seven reasons why having a social media presence is important. I will also give you 11 tips on how to use social media for your accounting firm’s marketing efforts.

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KPMG fined £3.4M by U.K. over Rolls-Royce audit

Accounting Today

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MassCPAs awards $170K in scholarships

Accounting Today

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Academics at odds with IFRS Foundation trustees on sustainability reporting

Accounting Today

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.