Tue.Sep 06, 2022

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8 Simple Ways to Manage Clients Effectively and Efficiently | Canopy

Canopy Accounting

The key to success in any business is building lasting relationships with clients. But what happens when managing clients takes up a lot of your time and energy? The best way to nurture and grow your relationships with each client when you are strapped for time—especially during tax season—is to practice both efficient and effective client management.

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What to Look for in a Fractional CFO for a Healthcare Startup

BurklandAssociates

Healthcare startups need a CFO who understands the industry, knows the regulatory landscape, and can open doors with healthcare-focused capital sources. The post What to Look for in a Fractional CFO for a Healthcare Startup appeared first on Burkland.

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Tips for Startup Accounting

Withum

As technology and emerging growth companies experience success, they find themselves in a position where their revenue is not the only thing growing. With the transition beyond the startup phase to the next growth phase, there is an inevitable increase in transactional volume and complexity. What used to be a process where an excel schedule took a few hours a month, is now or has been quickly becoming outdated.

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QuickBooks Desktop 2023 Product Summary

Intuitive Accountant

September 6, 2022 is the day Intuit's QuickBooks Accountant Leader Ted Callahan announced the release of the QuickBooks Desktop 2023 line-up to ProAdvisors and Accountants. Murph provides a summary of what's new.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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.

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Is Paying Employees Cash Under the Table Legal?

Patriot Software

Some businesses prefer paying employees cash instead of other payment methods, like direct deposit or check. If you choose to pay cash wages, you are still responsible for depositing and reporting employment taxes. Paying employees cash under the table, or off the record, means you fail to pay and report taxes. Learn whether cash under […] READ MORE.

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Deloitte is Out Here Being Cringey on LinkedIn Again

Going Concern

via r/linkedinlunatics. That polar bear’s name? Albert Einstein. Related articles: We Get It Lady, You Work For Deloitte. What’s Up With Deloitters and the LinkedIn Cult Mentality? Everyone Knows 11-Year-Olds Can’t Wait to Work at Deloitte. The post Deloitte is Out Here Being Cringey on LinkedIn Again appeared first on Going Concern.

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Information Returns Your Small Business May Need to File

Patriot Software

Every small business makes payments to operate. Some of these payments must be reported to the IRS or Social Security Administration (SSA). Companies must use information returns to report qualifying payments. Do you need to file an information return? Learn what information returns are, which common forms small businesses might need to file, and how […] READ MORE.

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Accounting and the Metaverse

Intuitive Accountant

In today's ever-growing social age, the question must be asked: Is this the future for firms? Engineered Tax Services' Julio Gonzalez shares his insights.

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Correcting Employment Taxes: What to Do If You Withhold the Wrong Amount

Patriot Software

It’s easy to make mistakes, especially when you have a million and one things on your plate. One error you could make is deducting the wrong amount from employee wages. Correcting employment taxes is necessary if you withhold too much or too little from your employees’ paychecks. This article provides an overview of employment taxes […] READ MORE.

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Broker of global tax deal quits with accord's future unclear

Accounting Today

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

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Use Our Ultimate Checklist to Hire Your First Employee

Patriot Software

Hiring your first employee is exhilarating. Instead of remaining buried by your business responsibilities, you can bring employees on board to alleviate some of your stress. But for many, the endless information about becoming an employer can be overwhelming. Every small business owner starts their employer journey by hiring their first employee. To get through […] READ MORE.

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IFAC releases action plan for fighting corruption and crime

Accounting Today

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Form 943: What to Know About Agricultural Withholding

Patriot Software

Various types of employers must withhold taxes from employees’ wages, including employers hiring farm workers. If you are an agricultural employer, you likely withhold taxes from your employees’ pay. And, you are responsible for reporting wages on IRS Form 943. So, what is Form 943? What is Form 943? Form 943, Employer’s Annual Federal Tax […] READ MORE.

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PwC sees audit quality improving

Accounting Today

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

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.

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What to Know About Form 941 Reconciliation

Patriot Software

As a small business owner, you have likely heard of IRS Form 941. If you file IRS Form 941, do you know the steps you must follow for Form 941 reconciliation? Find out how to reconcile Form 941 and why reconciliation is important for your small business. What is Form 941? You must know what […] READ MORE.

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Documents for Adult Children – Advanced HealthCare Directive and Power of Attorney Protecting Your Ability to Act for Adult Children

Dent Moses

Parents are accustomed to making decisions for their children but at age 19 (Alabama), your ability to make decisions for you child changes. While unmarried adult children may be perfectly capable of making their own decisions, the consider the following circumstances: Your 24-year-old son working in another city is injured in an accident and unable to make healthcare or financial decisions.

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Which Taxes Have a Wage Base?

Patriot Software

If you’re an employer, you likely know that withholding, contributing, and remitting employment taxes is essential to running legal and accurate payrolls. Before calculating how much to withhold and contribute, you need to know about the tax wage base. Some taxes have a wage base while others do not. To avoid overwithholding and overpaying taxes, […] READ MORE.

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How Restaurants Can Make the Most of Pandemic Relief Funding

Anders CPA

As COVID relief programs were incredibly influential within the food and beverage industry, many bars and restaurants are finding themselves in the situation of having larger amounts of cash than what they are used to. While this is not a bad problem to have, it’s important to explore your business’s options and determine the best use for that excess cash.

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8 Pillars of Leadership Development

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.

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What Does Direct Compensation Include?

Patriot Software

As an employer, you may give employees several types of compensation, including direct compensation. So, what’s direct compensation? And, what are the different types? What is direct compensation? Direct compensation is the monetary benefit a business offers its employees in return for their service. This includes an employee’s base pay (hourly wage or annual salary), […] READ MORE.

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4 Ways to Scale Your Business with Virtual CFO Services

IgniteSpot

1. Build your team. CFOs are expensive (think six-figure salaries), but their services don’t have to be out of reach. Instead, virtual CFO services provide an option for businesses to get CFO expertise they normally can’t afford.

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The Pros and Cons of Hiring Seasonal Employees for Your Small Business

Patriot Software

Some small businesses only operate during parts of the year, such as snow plow and lawn care services. These types of businesses are usually considered seasonal employers. The idea of hiring seasonal employees may sound appealing. But, you should weigh your pros and cons before becoming a seasonal employer. Have seasonal employees? Streamline your payroll […] READ MORE.

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IRA 2022 Provides a Business Benefit for Modernization of Commercial Buildings

Withum

It may be time for businesses to consider making energy efficient upgrades to existing buildings. If 179D is utilized, a taxpayer may be provided an immediate deduction of costs related to energy efficient commercial building property even though the costs otherwise would be capitalized and depreciated up to 39 years. The deduction for the 2022 taxable year was $1.88 per square foot.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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In the blogs: No surprises

Accounting Today

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CalCPA BUZZ: Last Chance for Top 100 Accountants Award Nominations

CalCPA

CalCPA is partnering with the Los Angeles Business Journal (LABJ) to launch the 2022 Top 100 Accountants Awards to recognize and honor outstanding accounting. The post CalCPA BUZZ: Last Chance for Top 100 Accountants Award Nominations appeared first on Hot Topics.

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Tuesday Morning Accounting News Brief: PwC’s Skepticism Fail; KPMG’s Appalling Work; Marcum Deal Done | 9.6.22

Going Concern

Ed. note: we usually do these headline roundups on Monday but since Monday was a holiday (I know, some of you probably didn’t notice), you’re getting it on Tuesday instead. Welcome to a new work week! YAY! A former accounting specialist for WFYI Public Media in Indianapolis has been charged with conspiracy to commit wire fraud and faces a maximum penalty of 20 years in federal prison if convicted.

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Net Worth Method to Prove Unreported Income

FraudFiles

When an IRS auditor or criminal investigator suspects that a taxpayer has unreported sources of income, he or she looks for ways to calculate that unreported income. One way is the net worth method of proof. Forensic accountants and fraud investigators can use the same method to calculate unreported income in other types of cases, such as divorce. In this video, Tracy describes how the calculation is done and how the results may be used.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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Is the Future of Cannabis in the Hands of E-Commerce?

Withum

Unprecedented e-commerce opportunities have presented themselves to the multi-billion-dollar cannabis industry. Increasing in popularity, e-commerce is significantly influencing and accelerating cannabis businesses globally. From the back-end operational side to consumer purchases on the front end, e-commerce is being implemented in every stage of the process.

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Would sweetFrog use job costing or process costing in calculating the cost of a customer’s cup of frozen yogurt and toppings?

Wendy Tietz

sweetFrog is a frozen yogurt restaurant franchise with over 300 locations in the United States and several more international locations. Customers select the flavor of frozen yogurt they want and fill their cup from the self-serve machine with the desired amount of the frozen yogurt. Next the customer will proceed to the toppings bar, where […].

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QBO Monday Minute: IRS Waves Late Filing Penalties

Intuitive Accountant

In the continued fallout of a pandemic that changed everything we did, the IRS lends a hand by automatically providing penalty relief for 2019 and 2020 tax filings. Liz Scott explains.

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How to choose where to promote and market your practice

Mark Lee

I have referenced what I call the 5Ms of marketing an accountancy practice before. This blog post is related to the fourth M. That is, which Media should you use to get your chosen Messages to your chosen Market? The answer to the question depends on where you are most likely to find your chosen Market (ie: your target audience). When many accountants are asked about this, they have no clear answer.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.