Withum
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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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Insightful Accountant
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
By Greg Stohr, Bloomberg News (TNS) The U.S. Supreme Court turned away a Missouri appeal that sought to ensure states can cut taxes even as they receive $195 billion in federal pandemic relief money. The justices without comment left in place a federal appeals court decision that said Missouri lacked legal standing to press a lawsuit over the requirements imposed under the American Rescue Plan Act.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Going Concern
JANUARY 23, 2023
Last week someone complained about the format I’ve been using for this linkwrap since I started doing it many, many Mondays ago so just for them, here’s some bullet-free bullet points in lieu of one giant paragraph. Don’t say I never did anything for you. Brazilian retailer and PwC client Americanas filed for bankruptcy, its three largest shareholders said over the weekend they had not known of $4 billion in accounting inconsistencies. “We didn’t know of and would n
CPA Practice
JANUARY 23, 2023
By Mark Ballard, The Advocate, Baton Rouge, La. (TNS) Seeming to come out of left field, President Joe Biden last week blasted Republicans for pushing legislation that would abolish federal income taxes and the IRS then replace those revenues with a 30% or so national sales tax. “It would raise taxes on the middle class by taxing thousands of everyday items, from groceries to gas, while cutting taxes for the wealthiest Americans,” Biden said during a speech at the National Action Network’s Marti
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JANUARY 23, 2023
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
Insightful Accountant
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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.
Ryan Lazanis
JANUARY 23, 2023
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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CPA Practice
JANUARY 23, 2023
By Marsha Mercer, Stateline.org (TNS) As inflation soared in the past year, families in some states suffered a double whammy—paying food sales taxes on top of higher-priced groceries. At least five of the 13 states where groceries were taxed as of last Jan. 1 passed laws to reduce, eliminate or ease the pinch—Kansas, Virginia, Illinois, Tennessee and Idaho.
CTP
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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.
Going Concern
JANUARY 23, 2023
Tiny little Southfield, MI firm Clayton & McKervey won’t be making Vault prestige lists any time soon but it is doing something to support its people through the process of getting the necessary 150 units for licensure: offering scholarships. Ranked #259 on the INSIDE Public Accounting Top 500 with revenue of $16,392,083, Clayton & McKervey has partnered with U.S.
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.
CPA Practice
JANUARY 23, 2023
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.
Xero
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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
Patriot Software
JANUARY 23, 2023
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?
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
CPA Practice
JANUARY 23, 2023
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.
Cherry Bekaert
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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.
Cherry Bekaert
JANUARY 23, 2023
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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CPA Practice
JANUARY 23, 2023
By Zoe Tillman, Bloomberg News (TNS) Former President Donald Trump has dropped a long-running court fight with Congress over access to his New York state tax returns, notifying a judge late Friday in a joint filing with a House committee that the new Republican leadership “has no interest” in the documents. The case dated back to 2019, when Trump was still president.
Nancy McClelland, LLC
JANUARY 23, 2023
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
Menzies
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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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Accounting Insight
JANUARY 23, 2023
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.
CPA Practice
JANUARY 23, 2023
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.
Inform Accounting
JANUARY 23, 2023
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.
Insightful Accountant
JANUARY 23, 2023
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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"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.
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