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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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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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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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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INSIDE Public Accounting Names Withum on 2022 Best of the Best Accounting Firms List

Withum

Withum is excited to share that INSIDE Public Accounting (IPA) has not only named the Firm on their Annual Best of the Best List but has also named Withum as an IPA 100 Fastest-Growing All Growth Firm and an IPA 100 Fastest-Growing Organic Growth Firm. IPA named Withum the Top 22 nd Firm, which is once again up in the rankings from previous years, marking Withum’s highest spot yet. .

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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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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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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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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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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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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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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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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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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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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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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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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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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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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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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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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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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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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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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 Handle the Death of an Employee in Your Small Business

Patriot Software

An employee’s death can be sudden and unexpected. But, you can’t be caught unaware by your employer responsibilities for handling the death of an employee. Although a difficult topic, you must know what to do when an employee dies. From notifying your staff to paying out deceased employee wages, you can’t neglect your duties. Not […] READ MORE.

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He Said, She Said, They All Said

Intuitive Accountant

The survey says you need to have those awkward conversations. We sat down with Ignition's Matthew Kanas to get a deeper dive into why having the chats you don't want to have matters.

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

Accounting Today

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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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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IFAC releases action plan for fighting corruption and crime

Accounting Today

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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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PwC sees audit quality improving

Accounting Today

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.