Mon.Jan 23, 2023

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Personal Cybersecurity Habits You’re Overlooking

Withum

As users or end-users in IT terms, we often receive notices and trainings to keep our company and client data safe. These tips are always helpful, yet the information does not readily translate to personal cybersecurity diligence. Our accompanying podcast, “Personal Cybersecurity Habits You’re Overlooking,” solicits advice from Withum’s Julie Tracy , Executive Cybersecurity Advisor.

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New Approaches to Audits Gain Ground

CPA Practice

By Tod McDonald. With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. In short, with interest rates on the rise and recessionary fears growing, the tide is, at long last, going out — and when the tide recedes is when we see what truly lies beneath.

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Withum Hosts Local Vocational Cyber Students

Withum

Withum Welcomes Morris County Vocational School District Cybersecurity & Information Protection Program Students to Top-of-the-Line Cyberspace. On Friday, January 13, Withum hosted students from Morris County Vocational School District to learn about a day in the life of cyber professionals, complete with a tour of the state-of-the-art facility, including its threat-tracking room, data destruction equipment and artifacts from influential cyber cases.

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How to Ask for a Five-Star Google Review

CPA Practice

With tax season about to hit full swing, now’s the time to ask clients for a five-star Google review for your firm. Asking clients for reviews can feel awkward. In general, though, people love to brag about great customer service. They might just need a little reminder to do so. This Forbes article states why. “Statistics show that 92% of business-to-business (B2B) buyers are more likely to purchase after reading a trusted review, and displaying five product reviews can increase conversion rates

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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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The Ultimate Virtual Assistant for CPAs Guide

Ryan Lazanis

It’s my belief that hiring a virtual assistant for CPAs is one of the best choices you can make when scaling your firm. This guide will shed light on how a virtual assistant (VA) can help, what they can do, and where to find them. Let’s get started. Table of Contents What is a Virtual Assistant for Certified Public Accountants? What Can a Virtual Assistant Do at Your Firm?

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Will the Increase in the Teacher Tax Deduction Really Help Educators Much?

CPA Practice

By Elizabeth Heubeck, Education Week, Bethesda, Md. (TNS) It’s tax season. And while this declaration usually comes with a collective groan, K-12 educators have a little something to celebrate on the tax front this year. For the first time since the IRS enacted the educator expense deduction in 2002, the agency raised it from $250 to $300 for the current tax-filing season.

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More Trending

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Most Business Chiefs Expect Bleak Economic Outlook for 2023, PwC Survey Finds

CPA Practice

Courtesy of Tribune News Service An overwhelming majority (73%) of CEOs surveyed expect global economic growth to decline over the next 12 months, a new PwC survey launched at the World Economic Forum (WEF) in Davos showed on Jan. 16. The PwC Global CEO Survey, which polled 4,410 CEOs in 105 countries and regions in October and November 2022, also revealed that 40% of the CEOs saw inflation as the top global threat, while 31% chose macroeconomic volatility, and 25% chose geopolitical conflict.

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Developing Your Accounting Firm’s Plan

CTP

What are your accounting goals? Many firms want to grow and expand. However, other businesses want to focus on: Increasing profit margins Boosting net profit Growing revenue At the same time, owners often find themselves stressed because they don’t maintain a healthy work-life balance. As the tax season picks up, we recommend that you sit down and reflect on the past before diving into your goals for the future.

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Thieves are Stealing California Rebate Cards

CPA Practice

By Jon Healey, Los Angeles Times (TNS). To ease the pain caused by high gasoline prices, the state of California has been sending a Middle Class Tax Refund of $200 to $1,050 to eligible households. Unfortunately, a portion of that amount has wound up in the hands of thieves. The thefts have targeted Californians who received their grants in the form of a prepaid debit card distributed by the Money Network , a contractor for the state Franchise Tax Board.

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QuickBooks, Mailchimp to Host Fireside Chat for Black History Month

Insightful Accountant

The virtual fireside chat, which highlights the challenges and courage of small business owners, features actress Issa Rae, and TV host and former NFL player Nate Burleson. Get the details for the Feb. 1 event here.

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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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Tax Pros Help Clients Deal with Smaller Refunds

CPA Practice

By Tim Grant, Pittsburgh Post-Gazette (TNS) The stimulus benefits that have been fattening income tax returns for the past few years are gone. But since the stock market didn’t do so well last year, investors who sold at a loss can at least expect a lower tax bill. “It’s a silver lining to a challenging economic time—that you may have less taxes to pay because your mutual funds didn’t earn as much in 2022 as they have in the past several years,” said Elizabeth “Li” Connolly, a partner at the Con

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Important Changes to QuickBooks Related 1099 Filing and Billing for 2023

Insightful Accountant

You need to read this if you're an accountant who has firm-billed (wholesale billing or “Bill My Firm”) clients without a Payroll or Contractor Payment subscription, and are filing 1099(s) for the 2022 tax year.

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Certum Solutions Named Intuit’s 2022 Trailblazer of the Year

CPA Practice

Certum Solutions was named Intuit’s 2022 Trailblazer of the Year across the QuickBooks Solution Provider Program, and also recognized as a top seller in QuickBooks Online Advanced, QuickBooks Merchant Services, QuickBooks Online and QuickBooks Online Payroll for the Executive tier. The announcement was made at QuickBooks Connect, Dec. 7-9, 2022, in Las Vegas, NV.

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The small business guide to MTD for VAT penalties

Xero

This blog was first published in April 2022 and updated in January 2023. If you’re a VAT-registered business , you may have received a letter or email from HMRC, informing you that the new penalty system for Making Tax Digital (MTD) for VAT is now in place. Arriving at the beginning of this year, the system is described as simplified penalties for late VAT submissions and payments, with a goal of making these fairer and more proportionate for customers.

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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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How Many Employees Does a Small Business Have? (+ Industry and State Charts)

Patriot Software

Small businesses are the backbone of the American economy. The numbers don’t lie: 99.9% of American businesses are small businesses, and almost half (46.8%) of US employees work for small businesses. But what makes a small business small?

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Arizonans Renting Homes During Super Bowl May Need a Permit and Face a Rental Tax

CPA Practice

As top teams battle for a place on the Super Bowl LVII field in Glendale, Arizona, many Arizonans in and around Glendale are preparing to rent apartments, houses, or rooms to out-of-town football fans. Short-term rental hosts that don’t already have an Arizona transaction privilege tax (TPT) license will need to obtain one from the Arizona Department of Revenue.

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NMTC Case Study for Commonwealth Crossing

Cherry Bekaert

Project Commonwealth Crossing Business Centre (CCBC) is a modern business and technology park designed to attract major manufacturers with the potential to add value to the local economy and create thousands of new jobs. A key component of securing business investment is ensuring that the Henry County region has an ample supply of skilled labor. Target industries, such as food processing, operate in highly sterile environments with stringent procedures that employees must know and follow.

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Today’s The Day! 2022 Tax Filing Season Begins

Nancy McClelland, LLC

January 23, 2023 — Per IRS 2023-11 , following a successful opening of its systems today, the IRS is now accepting and processing 2022 tax returns; taxpayers have until April 18 to file their taxes this year. According to Acting Commissioner Doug O’Donnell, taxpayers can count on IRS delivering improved service this filing season. As part of the August passage of the Inflation Reduction Act , the IRS has more than 5,000 new telephone assistors and added more in-person staff to help

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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NMTC Case Study for Brown Packing

Cherry Bekaert

Project Gaffney, South Carolina, located in Appalachia, has long been home to low or no skill manual labor jobs associated with the textile and farming industry but in the 1980’s this rural area began to suffer from the overall offshoring of those jobs. As the automotive industry has back-filled with mid/high skill level jobs, the working poor of Gaffney have not had the skills necessary to rejoin the workforce.

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Valuing IP can bring tangible business returns

Menzies

Menzies LLP - A leading chartered accountancy firm. As featured in freshbusinessthinking.com Intellectual property may be an intangible asset, but that doesn’t mean it can’t bring tangible returns. However, a report published by the UK Intellectual Property Office (UKIPO), has revealed that too few businesses are aware of the benefits that intellectual property (IP) valuation can bring.

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From Execution to Insight: How Fintech is Shaping the Future of Accounts Payable

CPA Practice

By Rick Fletcher. You have to spend money to make money. That’s an old adage, and it’s true. But actually making the payments takes up a lot of people’s time. It’s critical to your business operations, but it’s not why you’re in business. That means there are opportunity costs. You have to spend money on the spending of the money instead of on revenue-generating activities.

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How accounting software may hold the key to keeping on top of credit control

Accounting Insight

One of the first rules everyone learns about business is that you have to know how much money is flowing in and out. Speculations of whether the UK has been, or indeed will be in a recession may be placing many businesses in an uncertain position. As a result, businesses struggle to implement plans and create efficient processes during these uncertain economic times.

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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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20% of U.S. Business Plan to Reduce Staff; 12% Plan Increase

CPA Practice

By Reade Pickert, Bloomberg News (TNS). A new survey of business economists suggests U.S. job market conditions are beginning to soften, with firms indicating an easing of labor shortages and a pullback in hiring expectations. A National Association for Business Economics survey showed about a third of respondents say their firms are not facing any labor shortages, and nearly 20% expect employment at their company to fall in the coming months.

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Statutory Pay Rates from April 2023

Inform Accounting

The UK Government has published the proposed statutory rates for maternity pay, paternity pay, shared parental pay, adoption pay, parental bereavement pay, and sick pay from April 2023. The rates normally increase each April in line with the consumer price index (CPI) and the increase normally occurs on the first Sunday in April, which in 2023 is 2 April.

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Why Now is the Time to Add Financial Planning to Your Firm

Insightful Accountant

FFP Wealth Management's Joseph Graziano on why financial planning is something you need to consider even if you decide not to expand into it now or this year.

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Ban on single-use plastics in England

Inform Accounting

A range of polluting single-use plastics will be banned in England, Environment Secretary Thérèse Coffey has announced. The ban will include single-use plastic plates, trays, bowls, cutlery, balloon sticks, and certain types of polystyrene cups and food containers. This ban will be introduced from October 2023, allowing businesses time to prepare. According to estimates, England uses 2.7 billion items of single-use cutlery — most of which are plastic — and 721 million single-use plates per year,

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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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Certum Solutions Named Intuit’s '2022 Trailblazer of the Year'

Insightful Accountant

The award-winning QuickBooks Bookkeeping Solutions and consulting practice also received top seller distinctions in four QuickBooks service solutions.

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NMTC Case Study for The Emerge Center

Cherry Bekaert

Project In December 2012 the Baton Rouge Speech & Hearing Foundation (BRSHF) began construction on its new Emerge Center for Communication, Behavior & Development at Louisiana State University’s (LSU’s) Innovation Park. Founded in 1960 in response to a rubella epidemic, the nonprofit organization offers clinically effective therapies to children and adults with communication difficulties from the Greater Baton Rouge area, regardless of their ability to pay.

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January 2023 NFP Accounting Kickoff

Accounting for Good

The post January 2023 NFP Accounting Kickoff first appeared on ACCOUNTING FOR GOOD.

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NMTC Case Study for Claussen Bakery

Cherry Bekaert

Project The Claussen Bakery Project is the adaptive reuse of a former family-owned bakery built in the West End of Greenville in 1930. For decades, the bakery contributed to the industrial and commercial development of downtown Greenville. Closed in 1973, the historic building lay vacant for years and was ultimately gutted due to significant structural issues.

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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.