Fri.Feb 03, 2023

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Accounting Leads: 21 Tactics to Generate More

Ryan Lazanis

If you’re looking for tried, tested, and true tactics to help you generate more accounting leads for your firm, you’re in the right place. Read on to access 21 actionable methods that you can implement to help increase your client base. Let’s go! Table of Contents What is Lead Generation for Accountants 21 Tactics to Help You Generate Leads What is Lead Generation for Accountants?

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The cost of inaction: An urgent call to upgrade accounting processes.

Airbase

If you’re like most mid-market to early-enterprise companies, you’ve probably built up — or inherited — a number of systems in your financial tech stack to manage spending. The legacy ones include Expensify, bill.com, and Concur. You’ll have a card program like AMEX or SVB, or maybe a software-enabled one like Ramp or Brex. But, in this new era of cost savings and efficiency, the limitations and expense of these point solutions are increasingly clear.

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If You Let 23-Year-Olds Sign Off on Audits, You’re Gonna Have a Bad Time

Going Concern

On January 24, short seller Hindenburg Research dropped a report called Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History , in which Hindenburg accuses Indian conglomerate Adani Group of engaging in “a brazen stock manipulation and accounting fraud scheme over the course of decades,” among other things.

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Mortgage Rates Drop For Fourth Week in a Row

CPA Practice

By Prashant Gopal, Bloomberg News (TNS) Mortgage rates in the U.S. fell for a fourth straight week. The average for a 30-year, fixed loan was 6.09%, down from 6.13% last week, Freddie Mac said in a statement Thursday. Mortgage costs have come down almost a full percentage point from their recent high, giving hope to some would-be homebuyers looking for a way into a deal.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

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

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Friday Footnotes: Know Your Value; Retired EY Partners Complain; ‘Rest For Success’ | 2.3.23

Going Concern

Hail Eris! Today is 2/3/23 and this is your Friday roundup of all the week’s news that wasn’t fit to print (or make fun of). We appreciate you stopping by! Big 4 EY considers handing retired US partners cut of proceeds from spin-off [ Financial Times ] EY has told retired US partners it is considering giving them a cut of the proceeds from a spin-off of its consulting arm, after complaints that the firm’s leadership is cashing in on a business built by previous generations.

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R&D Tax Credit Misconceptions and Guidelines

CPA Practice

By Steven Bright, ADP vice president of Business Incentives. The federal research and development (R&D) Tax Credit is a useful credit for businesses of all sizes. The credit is designed to help organizations that engage in a range of activities, such as develop new products, processes, software, and more. In addition to providing a dollar-for-dollar reduction in a company’s tax liability, it also actively encourages a culture of innovation as business managers continue to put a high emphasis

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Miami Woman Accused of Buying Bentley with PPP Funds

CPA Practice

By Jay Weaver, Miami Herald (TNS). She did not go for a Lamborghini, as so many often do. Daniela Rendon instead got a Bentley. But the feds still noticed her flashy ride. Now the Miami woman is in custody — accused of stealing $381,000 from the federal government’s COVID-19 loan programs intended for businesses struggling during the pandemic. Rendon, 31, did not use the proceeds for her company’s employee payroll expenses or other overhead costs, as required by law under the Small Business Admi

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SME confidence takes hit as cash flow causes sleepless nights

Accounting Insight

Latest research by alternative lender Capify finds SME business confidence at lowest point since survey began. Results suggest some cause for optimism but also finds declining cash balances and cash flow concerns proving a barrier to growth The outlook from the UK’s SME community has fallen to a record low level, according to the latest quarterly survey from alternative finance provider Capify.

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U.S. Economy Expands at 2.9% Rate in Q4

CPA Practice

By Augusta Saraiva, Bloomberg News (TNS). The U.S. economy expanded at a healthy pace in the fourth quarter, though signs of slowing underlying demand mounted as the steepest interest-rate hikes in decades threaten growth this year. Gross domestic product increased at a 2.9% annualized rate in final three months of 2022 after a 3.2% gain in the third quarter, the Commerce Department’s initial estimate showed Thursday.

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Growing Your Construction Company Through Collaboration And Partnership

Randal DeHart

Operating and growing your construction business requires more than functional and skilled employees, but it's an excellent start. You need a steady stream of quality, paying clients to keep your company afloat. Likewise, deciding on an online marketing plan can be overwhelming for company owners like you who are looking for affordable ways to nurture consistent, sustainable growth.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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Treasury Shifts SUV Definition for EV Tax Credits After Carmakers Gripe

CPA Practice

By Riley Beggin, The Detroit News (TNS) The U.S. Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits. The change is likely to be the difference between thousands of dollars in consumer discounts. Under new federal tax credits, SUVs, trucks and vans can cost up to $80,000 and still qualify for a $7,500 credit.

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Which Firm Had the Most IPO Audit Clients In Q4 2022?

Going Concern

The fourth quarter of 2022 didn ’t miraculously save what was a terrible year for initial public offerings. There were 20 IPOs during the last quarter of the year which raised a combined total of $1.9 billion, according to a new analysis from Audit Analytics. That is down significantly from Q4 of 2021, when 265 companies went public and raised a total of nearly $66.1 billion.

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FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard

CPA Practice

As expected, the Financial Accounting Standard Board (FASB) voted on Wednesday to issue an exposure draft of a new accounting standard that would require companies to measure cryptocurrency assets, like Bitcoin and Ethereum, using fair value accounting, with gains and losses recorded in current period comprehensive income. Last October, the board decided that fair value accounting was the right method for crypto assets, which was a substantial development because there currently are no accountin

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2023 Alabama Tax Cut for Retirees with 401k and IRA Distributions

Dent Moses

Governor Ivy signed HB162 into law, which exempts the first $6,000 of retirement plan distributions for taxpayers age 65 or older beginning January 1, 2023. This mirrors the taxation of defined benefit plans for other plans such as 401K or IRAs. The exemption increases by $6,000 per year until it reaches $24,000 in 2026. The exemption is per spouse.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Georgia Tax Preparer Pleads Guilty to Federal Tax Fraud Charges

CPA Practice

The Albany Herald, Ga. (TNS) A Columbus, GA-based tax preparer has pleaded guilty in federal court to charges that she submitted false claims for tax credits for her clients and also failed to pay her own personal taxes. Nadine Word, 35, pleaded guilty Thursday to one count of aiding and assisting in the preparation and presentation of false and fraudulent individual income tax returns and one count of willful failure to file return, supply information, or pay tax before U.S.

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Essential Excel Formulas For Accounting

Snyder

As you already know by now, Excel is among, if not the most powerful piece of software that can assist individuals and businesses in making the job of accountants easier by significantly streamlining the accounting and financial control processes that they undertake. For one, with its various functions and formulas, Excel allows accountants to efficiently track financial data, thus effectively saving precious company time and improving accounting accuracy.

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The Technology Lab Podcast – Review of Hubdoc – Feb. 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review Hubdoc, an online tool that helps businesses and firms digitize and automate the management of financial documents, receipts and invoices, and import them into accounting systems. Click here to visit the podcast page.

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Becoming Stock Smart: The Four Cornerstones of Inventory Planning

Acterys

Inventory planning is crucial for businesses because a successful plan allows them to meet customer demand while remaining profitable. Poor inventory planning can lead to problems, such as excess or insufficient inventory, which can result in lost sales or higher carrying costs. On the other hand, effective inventory planning can help businesses to reduce costs, improve customer satisfaction, and increase profitability.

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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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ADP Says 107,000 Jobs Added in January; Salaries Up 7.3%

CPA Practice

Private sector employment increased by 106,000 jobs in January and annual pay was up 7.3 percent year-over-year, according to the January ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market.

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Remote Work & Your Skagit County Business Insurance Policy

SkagitCountyTaxServices

Now that we’re through January (and all of the 1099’s and payroll-related information returns), we take a small breath … but then things start ramping up again for us here at Padgett & Padgett, PLLC CPA. So let this serve as an early notice that it would be a very good idea to get on our calendar as soon as you’re able. And I’m well aware that this takes time for business owners.

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Inflation Rate Drops for 6th Month; Housing Market Still High

CPA Practice

By Jim Probasco, Bankrate.com (via TNS). There’s good news on the inflation front: December 2022 marked the sixth straight month that the U.S. rate of inflation has decreased. According to the latest figures from the U.S. Bureau of Labor Statistics, released January 12, the Consumer Price Index (CPI) fell 0.1% in December 2022. It had risen by the same amount in November.

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What is a Lifestyle Analysis in Divorce?

FraudFiles

The divorce financial analysis is one very specific set of services that can be offered by a forensic accountant. The lifestyle analysis is the process of tabulating and analyzing the income and expenses of the parties.

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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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How to take advantage of ’10-Year Averaging’ in New Retirement Tax Rules

CPA Practice

At the end of December, 2022, Congress passed sweeping legislation affecting participants in qualified retirement plans, like 401(k) plans, and IRAs. First, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 made several important changes, including raising the age threshold for required minimum distributions (RMDs) from age 70½ to age 72.

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How to set up as a self-employed barrister

Menzies

Menzies LLP - A leading chartered accountancy firm. David Truman – Private Client Partner As a pupil barrister, setting up as self-employed might seem like a daunting and complicated admin task, but getting your details and business processes set up early will pay dividends in the future. We work with barristers across all stages of their career to support them with their personal and business finances.

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Changes to Tax Credits and Deductions Could Mean Smaller Refunds or Higher Taxes in 2023

CPA Practice

The IRS began accepting tax returns in late January, and if you were hoping for a bigger tax refund—or at least a smaller tax bill—in the new year, some tax law changes impacting the upcoming 2022 tax year filing season may dampen your spirits. For starters, certain tax credits for children and dependents have been reduced, and the charitable deduction some taxpayers took advantage of during the pandemic years is no longer so easy to claim.

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