TaxConnex
MARCH 23, 2023
Looking to find out more about TaxConnex? What better way than hearing from our founders and partners? Learn from the best by hearing from the ones that built TaxConnex. Over the last few months, we've been highlighting the Partners of TaxConnex. Finally, we have our Chief Operating Officer, Jackie Breiter! Can you tell me about your career leading up to TaxConnex?
CPA Practice
MARCH 23, 2023
By Joseph Bustos, The State (TNS) South Carolina’s top accountant Richard Eckstrom says he will resign effective April 30 after disclosing to state lawmakers that he inflated the state’s cash balances for a decade, eventually reaching about $3.5 billion. Richard Eckstrom In a Thursday resignation letter to Gov. Henry McMaster, the comptroller general reiterated his advocacy that the Legislature move forward on legislation for a constitutional change to make his position appointed by the govern
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Going Concern
MARCH 23, 2023
Accounting OG @twuench took a break from telling interns to get off his lawn and has shared this great busy season survival tip from his former direct report at PwC. Take notes, people. [link] IRS employees, y’all are out of luck sorry. Not like you’re allowed to partake anyway. The post Busy Season Survival Tip #626: Save Those Paperclips appeared first on Going Concern.
CPA Practice
MARCH 23, 2023
The IRS and the Treasury Department issued preliminary guidance on Tuesday that leans toward treating nonfungible tokens (NFTs) as a collectible for tax purposes. In a statement this morning, the IRS said: A nonfungible token (NFT) is a unique digital identifier that is recorded using distributed ledger technology and may be used to certify authenticity and ownership of an associated right or asset.
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You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
AccountingDepartment
MARCH 23, 2023
As we move towards a more technology-driven world, it's important for business owners to adopt a "work smarter, not harder" mentality. One way to achieve this is through workflow automation with ERP software like NetSuite.
Going Concern
MARCH 23, 2023
It’s a rare day we write about Accenture but because the firms we do write about have begun tightening their belts and even cutting advisory people ( KPMG , BDO ), we thought it prudent to inform you of what appeared in the 10-Q the company filed yesterday. This is from Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations : While we continue to hire, especially to support our strategic growth priorities, during the second quarter of fiscal 2023, we
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
MARCH 23, 2023
Frequently Asked Questions About Medical Expenses Related to Nutrition, Wellness, and General Health (Mar. 17, 2023); IRS News Release IR-2023-47 (Mar. 17, 2023) FAQs News Release The IRS has issued FAQs that explain when certain costs related to nutrition, wellness, and general health are medical expenses under Code § 213 that may be paid or reimbursed under a health FSA, HSA, or HRA.
Insightful Accountant
MARCH 23, 2023
QuickBooks is rolling out new instant deposit features for its Payments and Checking customers, making it easier for small businesses to access their cash.
Accounting Seed
MARCH 23, 2023
As your business grows, you’ll want accounting software that allows you to dedicate more time to helping customers than inputting data or emailing teammates to ensure your information is the same. If you’re in search of accounting software that integrates with Salesforce, we’ll do you one better: Adopt Accounting Seed, which is built natively on Salesforce.
Insightful Accountant
MARCH 23, 2023
In recognition of the upcoming 'National Mom and Pop Business Owners Day,' Epson gleaned entrepreneurial insights on efficient processes, reliable technology and customer service.
Speaker: Gerald Ratigan
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
MineralTree
MARCH 23, 2023
You’re researching flights for that much-needed vacation and are presented with two options: a direct flight or a connecting flight. Which do you buy? Given a choice, most people opt for the direct flight because it’s faster and easier. Connections add unnecessary time, stress, and risk to a trip – even when everything goes according to plan. Layovers that go awry also create a domino effect, enabling one delay or missed connection to disrupt your entire itinerary.
CPA Practice
MARCH 23, 2023
As a high-growth firm or one reaching toward that distinction, you are likely to be focused on expanding your client base, increasing revenue, and driving business growth. In order to achieve those goals, your marketing efforts must be aligned with your company’s overall growth strategy. However, scaling your B2B marketing efforts can be challenging, as it requires a different set of skills and tactics compared to those used in the early stages of your firm.
inDinero Accounting
MARCH 23, 2023
Introduction In today’s competitive private equity (PE) landscape, portfolio companies (portcos) frequently confront significant obstacles in managing their finance and accounting functions. This comprehensive article delves into the underlying reasons for these challenges and presents practical solutions for PE firms and their portcos to streamline their finance and accounting processes, ultimately improving overall performance.
Snyder
MARCH 23, 2023
As a small business owner, making sense of the accounting basics and bookkeeping terminology might be giving you a little bit of a headache. At the same time, being able to successfully maneuver the world of accounting is crucial to the success of your business. That’s why in this article, we will cover an essential topic for every business owner: what the difference between accrual and cash accounting is, and how to choose the right method for your business.
Speaker: Sean Yoder
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
Patriot Software
MARCH 23, 2023
According to the Small Business Administration, 81.2% of large employers and 24.8% of small employers are corporations. Structuring your business as a corporation comes with benefits like limited liability and increased access to capital. It also comes with its own unique small business tax return—Form 1120. Do you know how to fill out Form 1120?
CPA Practice
MARCH 23, 2023
The Financial Accounting Standards Board (FASB) on Thursday published an exposure draft of its proposed accounting rules on how companies should report certain types of crypto assets and digital currencies. Last October, the FASB recommended that fair value accounting was the right method for crypto assets, which was a noteworthy development because there currently are no accounting or disclosure rules specifically for crypto assets.
inDinero Accounting
MARCH 23, 2023
Introduction In today’s competitive private equity (PE) landscape, portfolio companies (portcos) frequently confront significant obstacles in managing their finance and accounting functions. This comprehensive article delves into the underlying reasons for these challenges and presents practical solutions for PE firms and their portcos to streamline their finance and accounting processes, ultimately improving overall performance.
CPA Practice
MARCH 23, 2023
By Reade Pickert, Bloomberg News (via TNS). Sales of new U.S. homes unexpectedly rose in February after a downward revision to the prior month, suggesting the housing market is beginning to stabilize after a tumultuous year. Purchases of new single-family homes increased 1.1% to an annualized 640,000 pace after a 633,000 rate in January, government data showed Thursday.
Speaker: Joe Wroblewski, Sales Engineer Manager
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
Withum
MARCH 23, 2023
Many organizations receive, catalog, and produce large volumes of information but, unfortunately, do not leverage intelligent automation to manage that information which can lead to a lack of a centralized repository with consistent internal controls and best practices. Some solutions for this problem are not easily customized, are cost-prohibitive, and do not lend themselves to integration and transparency.
Anders CPA
MARCH 23, 2023
Hackers and cybercriminals’ methods have become more sophisticated within the last 10 years, but not every business has the updated cybersecurity network necessary to reduce their vulnerability to attack. But Who’s Counting? host David E. Hartley discussed the need for businesses to overhaul outdated security systems to a strong cybersecurity policy with Anders Principal and Director + Technology Jason N.
CPA Practice
MARCH 23, 2023
The Paychex Charitable Foundation , a part of Paychex, Inc. , will provide a $1 million grant to Mental Health America (MHA) to support the organization’s work raising awareness about the importance of prioritizing mental health care. The grant, which allocates $250,000 annually over the next four years, focuses on improving access to mental health education and resources in the company’s key markets across the U.S.
Anders CPA
MARCH 23, 2023
The collapses of Silicon Valley Bank (SVB) and Signature Bank magnified the uncomfortable challenges facing the banking sector, both domestically and abroad. Already, commentators and industry insiders have drawn comparisons to the 2008 recession and banking crisis, but despite emotional similarities, there’s very different causes driving this fraught 2023 banking cycle.
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Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
CPA Practice
MARCH 23, 2023
By Augusta Saraiva, Bloomberg News (via TNS). Applications for U.S. unemployment benefits unexpectedly eased for a second week, underscoring a still-tight job market in which employers are reluctant to reduce headcount. Initial filings for jobless benefits fell by 1,000 to 191,000 in the week ended March 18, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 197,000 applications.
Anders CPA
MARCH 23, 2023
As the banking industry continues to adjust to the fallout from the collapses of several banks, including Silicon Valley Bank (SVB) and Credit Suisse, many businesses who bank with community and regional banks are unsure of how to proceed. Uncertainty abounds as the market decides whether the steps that have been taken to combat this wave of bank collapses is positive or negative.
CPA Practice
MARCH 23, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review Acumatica , an easy-to-use and customizable cloud ERP system that helps improve profitability, efficiency, and more. Use the podcast player below to listen to the podcast.
ThomsonReuters
MARCH 23, 2023
QUESTION: We understand that SECURE 2.0 significantly expands the rules for self-correcting 401(k) plan errors. Can you tell us more about these changes? ANSWER: SECURE 2.0 (see our Checkpoint article ) expands access to self-correction for 401(k) plans in multiple ways. As of December 29, 2022, self-correction under the IRS Employee Plan Compliance Resolution System (EPCRS) may cover any eligible inadvertent failure that would disqualify the plan, unless (1) the IRS identifies the error befo
Advertiser: Paycor
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CPA Practice
MARCH 23, 2023
By Brian Niemietz, New York Daily News (TNS) The Securities and Exchange Commission said Wednesday it would accept settlements from celebrities, including Lindsay Lohan, who promoted cryptocurrency without disclosing they were being paid for their services. “On February 11, 2021, Lohan—a well-known actress, singer, and internet personality—touted on social media a crypto asset security that was being offered and sold,” the SEC said in a cease-and-desist order.
ThomsonReuters
MARCH 23, 2023
Federal Independent Dispute Resolution (IDR) Process Guidance for Certified IDR Entities (Mar. 2023); Federal Independent Dispute Resolution (IDR) Process Guidance for Disputing Parties (Mar. 2023) Guidance for Certified IDR Entities Guidance for Disputing Parties The DOL, HHS, and IRS have issued revised guidance implementing the independent dispute resolution (IDR) process used by plans, insurers, providers, and certified IDR entities in resolving claims for payment for out-of-network services
Withum
MARCH 23, 2023
Artificial intelligence has been making tremendous strides recently and is continuing to improve every second, including advancements in AI for business and AI for developers. There are several different ways that AI can help improve your day-to-day processes, like helping you create Power Apps applications, Power Automate Flows and even help with researching and writing documents.
Accounting Insight
MARCH 23, 2023
In the run up to Accountex London, our Meet The Brand series is back, to introduce you to some of the up and coming brands you can look forward to meeting at the show. First up is Pixie. A simpler practice management and workflow automation approach for small accounting and bookkeeping firms. Thousands of accountants and bookkeepers rely on it daily to manage work more effectively, scale their firms, and leave clients delighted.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.
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