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Imagine you’ve got your eye on a business that seems like an attractive investment or acquisition target. It boasts strong earnings, competitive growth estimates and a clean balance sheet. But this business has a secret: fraud. And fraud can dramatically change the prospects — and value — of a company. That’s why, when conducting business appraisals, valuation professionals keep their eyes peeled for signs that fraud is occurring or could easily occur.
If you’re one of our #XeroCertified partners, then you already know the benefit of being certified is that it’s proof to your clients that when you say you’re an expert in Xero — you really mean it! You also know that the quarterly product updates are a great way to stay informed about changes and how you can get the most out of Xero. Read on for five tips for Xero partners, shared by Xero partners, that featured in the 2022 quarterly product updates.
When new technologies emerge, it can take time for the general public to learn how they work. Non-fungible tokens, or NFTs, first appeared in 2014, yet many people are still confused about what they are and how to buy and store them. This gives criminals who understand the technology an advantage. In addition to money laundering, tax evasion and terrorist funding, NFTs are being used to commit fraud and steal from unsuspecting asset buyers.
Last week, I was incredibly excited to co-host the New Zealand Xero Awards 2022 for the first time. It was a special night to celebrate and honor the admirable mahi of our accounting and bookkeeping partners. . It was awesome to be able to bring everyone together in person again, and I loved seeing the buzz in the room as our partners reconnected with one another and cheered each other on. .
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 market approach is an intuitive way to value a private business interest. It bases the subject company’s value on sales of other similar businesses or business interests, which are commonly referred to as “guideline transactions” or “comparables.” Each business is unique, so identifying an exact match is impossible. 2 methods The following two primary valuation methods fall under the market approach umbrella: Guideline public company method.
The ability to connect your bank account to Xero is one of our most loved features and a core part of our vision to automate routine tasks. It’s designed to help your bank transactions flow securely into Xero, so you can save time on bank reconciliation and have better visibility of your cash flow. At Xerocon New Orleans, we announced a new partnership with BMO Financial Group in Canada, and we’re excited to share that this partnership has now been extended to customers in the US.
If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code section that provides for them, allow prepayment of higher education costs on a tax-favored basis. There are two types of programs: Prepaid plans, which allow you to buy tuition credits or certificates at present tuition rates, even though the beneficiary (child) won’t be starting college f
If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code section that provides for them, allow prepayment of higher education costs on a tax-favored basis. There are two types of programs: Prepaid plans, which allow you to buy tuition credits or certificates at present tuition rates, even though the beneficiary (child) won’t be starting college f
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Basics about Social Security The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed workers.
You’ve probably seen this making the rounds on Reddit, Twitter, and whichever other dark corner of the internet you hang out in to commiserate with your fellow capital markets servants. It’s from FinanceBuzz’s 13 Jobs That Will Be Gone Within 20 Years : Like most article that claim accountants will be replaced by machines in 5-25 years, this one seems to conflate “accountant” with, well, anyone performing accounting and bookkeeping tasks.
In most companies, employees need a user identity to access work-related hardware and software. Privileges to use certain applications or open certain files usually are provided to workers based on their department, role and level of authority. Over their tenure, employees might accumulate various privileges they no longer need. For example, someone who once worked in accounting might retain the ability to make journal entries even after transferring to the legal department.
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.
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up to $14,890 of “qualified adoption expenses” for each child. This will increase to $15,950 in 2023. That’s a dollar-for-dollar reduction of tax. Also, adoptive parents may be able to exclude from gross income up to $14,890 in 2022 ($15,950 in 2023) of qualified expenses paid by an employer under an adoption assistance program.
Registering for GST is a ‘must do’ for a variety of Australia businesses. This is mostly due to passing the GST turnover threshold, but there are also several scenarios where you will have to register regardless of your turnover. Let’s have a look at three common business cases where you might register for GST. First, let’s take a look at the GST thresholds for Aussie businesses.
IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received additional funding in the Inflation Reduction Act to improve customer service, upgrade technology and increase audits of high-income taxpayers.
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.
In 2022, we find ourselves facing sharply rising inflation, higher cost of living and elevating interest rates. If you’re a small business operator, there’s every chance you’re feeling that pinch in a variety of ways. While nobody can change the circumstances we find ourselves in, and there’s no magic bullet, there are still meaningful steps you can take to combat these cost pressures and firm up your position to weather adversity.
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering how high inflation will affect your federal income tax bill for 2023? The IRS recently announced next year’s inflation-adjusted tax amounts for several provisions. Some highlights Standard deduction.
Ask any small business owner what the key to running a smooth operation is, and chances are, they’ll all tell you the same thing – positive cash flow. But when contending with pressures like late payments, rising expenses and seasonal slowdowns, many need extra support to stay out of the red. This is where safe and secure borrowing becomes a lifeline.
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. The amounts increased more than they have in recent years due to inflation. 401(k) plans The 2023 contribution limit for employees who participate in 401(k) plans will increase to $22,500 (up from $20,500 in 2022).
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.
Below are links to a crossword puzzle to review stockholders’ equity concepts in financial accounting. Both links are to the same puzzle, but one has a solution enabled and the other does not. Stockholders’ equity crossword puzzle: Share this link with your students to have them work on the puzzle without access to the solution. […].
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and other taxes. You may also have state tax obligations. If you employ a household worker, you aren’t required to withhold federal income taxes from pay.
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Here are the key tax benefits: Contributions that participants make to an HSA are deductible, within limits.
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