Mark Lee
APRIL 18, 2023
Many of the sole practitioners who contact me are feeling isolated, frustrated and/or overwhelmed. During our initial conversations I always ask what has prompted them to get in touch ‘now’ The details will vary but typically there will have been a catalyst – even if they were only prompted to get in touch ‘at last’ by something of mine they recently read.
Airbase
APRIL 18, 2023
The rapidly evolving spend management market is once again experiencing a breakout moment. As the category leader and pioneer, Airbase is the first and only spend management platform to now offer Guided Procurement — intake functionality for all purchasing. This innovation expands the capabilities of spend management to include the beginning of the purchasing lifecycle, as employees first enter a request to spend company money.
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ThomsonReuters
APRIL 18, 2023
For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. Payroll errors are certainly a real concern, but with the right tools and resources in place, payroll services can be a growth opportunity for firms. Today’s global workforce, remote and hybrid work environments, and the ever-changing regulatory landscape have added additional layers of complexity to payroll.
CPA Practice
APRIL 18, 2023
By Theresa Braine, New York Daily News (TNS) Death and taxes may both still be inevitable, but waiting to talk to the IRS soon won’t be, the agency claims. The IRS said Monday that its average wait times for phone calls is now 4 minutes, down from 27 last year. This year’s tax filing deadline is Tuesday. Thanks to last year’s Inflation Reduction Act, the IRS got a funding boost that enabled it to improve customer service all around for the 2023 tax season.
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Ryan Lazanis
APRIL 18, 2023
Artificial intelligence in accounting is currently transforming the industry. In this article, you’ll: See concrete examples of how AI is currently being used in the profession How you can start using AI in accounting right now Understand the benefits and risks of AI Plus more… And by the way, since this article is about AI, the remainder of it, with our guidance, will be written by AI An explanation at the end of this article describes how AI was used to produce this post.
CPA Practice
APRIL 18, 2023
By David Wichner, The Arizona Daily Star, Tucson (TNS) A tax preparer in Tucson, AZ, already awaiting trial on drug-smuggling charges has been indicted by a federal grand jury, accused of filing fraudulent tax returns to reap inflated fees. The 10-count indictment against Nour Abubakr Nour, who operated Skyman Tax LLC, alleges that Nour used a tax refund advance loan service to pay himself fees from inflated tax refunds, after filing fraudulent tax returns on behalf of clients in 2017 and 2018.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Going Concern
APRIL 18, 2023
Yesterday the PwC return to office plan set to be announced May 3 and take effect after the firmwide summer break was all but confirmed and in a discussion about it I came across this: Therese are nothing when compared to Deloitte’s planned RTO announcement which has a tentative announcement date of the Tuesday after Memorial Day. 75% in office for tax, and 100% in office for those below manager without engagement partner approval to work from home.
CPA Practice
APRIL 18, 2023
Mere days after announcing it had shelved a yearlong global plan to split its auditing and consulting practices into two separate companies , EY is letting go of 3,000 U.S. employees, or about 5% of its U.S. workforce, in the coming months. The cuts will primarily occur within the Big Four firm’s consulting, strategy and transactions, people advisory services, and core business services areas “where growth has notably slowed, or we have significant excess capacity,” EY said in a message to emplo
GrowthForceBlog
APRIL 18, 2023
7 min read In the modern era, the business landscape undergoes rapid changes seemingly almost every day. From the pivots required by the pandemic lockdowns to the dawning of new artificial intelligence (AI) technologies and the growing fears of an economic recession, businesses today have been and will continue to be challenged to undergo and survive change.
AccountingDepartment
APRIL 18, 2023
Opportunity cost is a concept in business that refers to the value of the best alternative forgone in order to pursue a certain action or decision. It is a crucial element to consider when evaluating the benefits and drawbacks of various options, particularly in business.
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.
Insightful Accountant
APRIL 18, 2023
erplain offers B2B sales and inventory simplified for your small- to medium-sized business using QuickBooks Online.
Cherry Bekaert
APRIL 18, 2023
On the surface, it may seem like a simple accounting method change, but Section 174: Amortization of Research & Experimental Expenditures has complex implications and rules, particularly for technology companies, as it relates to research and software development costs. Section 174 impacts technology companies much more than other industries. In the latest episode of our Technology podcast, Tim Larson , Tax Partner, welcomes members from Cherry Bekaert’s Tax Credits & Incentives Adviso
ThomsonReuters
APRIL 18, 2023
Cash flow is the lifeline for all businesses and, not surprisingly, is a top concern for many business owners. They rely heavily on cash flow statements and the expertise of their accountant to make informed strategic business decisions. Therefore, cash flow statements must be accurate. Cash flow statements are one of the three fundamental financial statements used, alongside income statements and balance sheets.
Cherry Bekaert
APRIL 18, 2023
Taxpayer claims for the federal income tax credit for Increasing Research Activities (R&D tax credit) continue to draw scrutiny from the Internal Revenue Service (IRS). Two recent court cases highlight how taxpayers can lose their R&D tax credit claims. In Little Sandy Coal v. Commissioner [1] (Little Sandy Coal), the Court determined that the taxpayer did not provide the proper documentation to support its experimentation process necessary fo purposes of claiming the R&D tax credit.
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
RitaKeller
APRIL 18, 2023
“I always say complacency is the kiss of death.” – Shari Redstone The quote above once again reminds me of one of the challenges I see for many CPA firms. Times have been very good for CPAs (meaning profitability) in the last few years. And, honestly, progressive firms have been very profitable for MANY years. Thus, partners become very complacent. At a partner retreat, a few items were identified as something to “fix” in the coming year.
Insightful Accountant
APRIL 18, 2023
FFP Wealth Management's John Graziano offers some timely tips you can employ now that tax time is over (sort of).
MazumaBusinessAccounting
APRIL 18, 2023
One of the perks of being a small business owner is the tax deductions you can take advantage of, including how to write off a business trip or vacation. You just need to know your motives before you go! To begin, you need to understand your trip needs to have a business purpose for it to be eligible as a tax deduction. The key element to writing off your trip is that its primary purpose is business.
CPA Practice
APRIL 18, 2023
Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) held a meeting on April 17 in Norwalk, CT. The meeting was the 32nd in a series of meetings between the FASB and the ASBJ to further the boards’ cooperative efforts to develop high-quality global accounting standards. At this meeting, representatives of the FASB and the ASBJ provided updates on their respective activities and discussed agenda items in which both boards have inter
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ThomsonReuters
APRIL 18, 2023
The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. This has given rise to new growth opportunities for firms, but that’s not to say that accounting issues don’t remain in their daily workflows.
Going Concern
APRIL 18, 2023
Post image via Here’s the Deck EY Put Together to Sell the Audit/Consulting Split to Staff It was only days ago that EY released its Empathy in Business Survey results for 2023 and if you remember, the last time they promoted empathy in business it did not go well. Recap on that from last year: The Thing Workers Want Most Is Not Better Pay But Empathetic Employers Says Employer Unwilling to Pay You More You can skip the click, this one post sums up the firm’s snafu: An actual Facebook post
ThomsonReuters
APRIL 18, 2023
To help ensure that financial reporting is transparent and investors have the most accurate and timely information they need to make informed investment decisions, public companies must disclose certain financial, and other information, to investors. Therefore, preparing financial statements that are in compliance with generally accepted accounting principles (GAAP or U.S.
Accounting Insight
APRIL 18, 2023
Visitors are Accountex London can look forward to meeting Fortis DPC Limited, who are exhibiting at the show. They are a compliance practice that prioritise data as your most valuable asset. They work with you to ensure you don’t lose data and fall foul of the regulator. Learn a bit more about them… What do you do? We are Data Protection specialists focussed on the accountancy sector.
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Menzies
APRIL 18, 2023
Menzies LLP - A leading chartered accountancy firm. We’ve all thought about it as some point – how the world is becoming more and more driven by technology with each passing year. Maybe you’ve even joked about how computers are going to take over the world one day! Of course, in reality that is implausible. But there is already so much more technology out there than you can even comprehend.
Anders CPA
APRIL 18, 2023
Thirteen years later, and one day early, the Consumer Financial Protection Bureau (CFPB) issued a final rule on small business data collection as required by Section 1071 of the Dodd-Frank Act. While there are 18 months before data collection rules become mandatory for the largest reporters, banks and other financial institutions can take important steps now to prepare for reporting deadlines.
TaxConnex
APRIL 18, 2023
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates so far this year. Thumbs up, thumbs down. New sales taxes are progressing in some states but not all. Alaska, one of the few states still without a statewide sale tax, is considering one as it tries to close a projected revenue shortfall of $450 million heading into the next fiscal year.
ThomsonReuters
APRIL 18, 2023
Financial statements contain critical information about a company’s financial position, cash flows, and results of operations. They paint a picture of the company’s financial position and business performance and help management, investors, and other stakeholders make more informed economic decisions. Unfortunately, despite how carefully statements may be prepared, financial reporting errors can happen.
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