Mon.Aug 29, 2022

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How to Do Payroll: Your Step-by-step Guide on Paying Employees

Patriot Software

If you’re becoming an employer or already have employees, you must learn how to do payroll. Handling payroll is an important employer responsibility with many steps. Familiarize yourself on how to do payroll by learning about what payroll information you need to gather and the steps you need to follow to pay employees. Information to […] READ MORE.

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What’s Included in Virtual CFO Services?

IgniteSpot

What Is a Virtual CFO? You’re probably familiar with the role of chief financial officer (CFO), but your company doesn’t have one. yet. CFOs are usually high-level business executives, commanding high salaries to match. But small- and medium-sized businesses like yours might not be ready for that. Virtual CFO services provide an alternative to in-house financial expertise as you continue to scale.

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What to Know About Shift Differential Pay

Patriot Software

Many employers find themselves extending their hours of operation to keep up with customer demands. Businesses operating day and night need employees who are willing to work evening or late shifts. However, it can be difficult to recruit employees for these undesirable hours. Paying employees a shift differential is an effective way to overcome staffing […] READ MORE.

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Art of Accounting: 10 ways to better manage your time

Accounting Today

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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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Learn How to Calculate Your Absenteeism Rate—and Use It—Today

Patriot Software

From time to time, employees miss work. Expecting employees to come in every day throughout the year is likely unrealistic. But when employees make a habit of missing work unexpectedly, their absences can set your business back. Learn how to calculate your business’s absenteeism rate to reduce absenteeism in the workplace. What is the absenteeism […] READ MORE.

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Renters Insurance for College Students

Withum

As students return to campus around the country with shiny new dorm décor, laptops, and other assorted electronics, it is important to understand how those items are insured. A common misconception is that student’s belongings are covered under their school’s coverage of the building, but those policies only cover the structure and not the contents.

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Western Foodservice & Hospitality Expo

KROST

Our Restaurant team exhibited at the Western Foodservice & Hospitality Expo on Monday, August 29th from 11am-5pm. We were located at the Los Angeles Convention Center — South Hall in Booth #1123. We volunteered to raise money for Restaurants Care. Thank you to those who came by to say hello and spun our prize wheel. Read the full article. The post Western Foodservice & Hospitality Expo appeared first on KROST.

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What Is Medicare Tax? A Closer Look for Employers & Employees

Patriot Software

If you have employees, you’re responsible for handling and paying Medicare tax. Like all things tax-related, Medicare tax can get complicated quickly. Read on to learn what is Medicare tax, what it funds, and how much it costs. What is Medicare tax? Medicare tax is a payroll tax employers and employees share. You must withhold […] READ MORE.

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Monday Morning Accounting News Briefing: PwC India Hiring; CFO Expectations; EY’s Sales Pitch | 8.29.22

Going Concern

“Why aren’t there resources to help those with private loans get forgiveness?” asks a 34-year-old accountant who paid off $100,000 in private student loans. “It’s like I was told that if I went to college I’d be able to get a good job and support myself and family, and that’s just not always true in our current environment.” A former chief accounting officer of two businesses in Ohio gave herself a $36 per week raise and extra bonuses of $600 and $

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How to Handle Accrued Time Off in Your Business

Patriot Software

Paid time off (PTO), including vacation days, sick days, and holidays, is a popular employee benefit. According to the Bureau of Labor Statistics, 77% of employees receive paid vacation days, 77% receive paid sick leave, and 79% receive paid holidays. But when employees don’t use up their PTO, they’re left with accrued time off. If […] 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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Do I Need a Bookkeeper If I Have Quickbooks?

MazumaBusinessAccounting

Yes. Yes, you do need a bookkeeper even if you have Quickbooks. We understand that you’re a small business owner, and you want to save money where you can. But relying on software alone may cost you more in the long run. Accountants and bookkeepers can offer so much more than Quickbooks. Why You Need a Bookkeeper Even If You Have Quickbooks. Here are just a handful of reasons that having a human touch is better than relying on Quickbooks alone.

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Can Your Employees Change W-4 Forms?

Patriot Software

New employees must complete Form W-4 before they start working at your business. With Form W-4, employees input information that determines their federal income tax withholding, which allows you to run payroll. To adjust their withholding, employees must change W-4 forms. As an employer, you might be wondering about the rules for updating Form W-4. […] READ MORE.

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Do Small Businesses Get Tax Refunds?

MazumaBusinessAccounting

In 2021, the average tax refund was $3,039. Small potatoes? Hardly, especially given the economic downturn of the last couple of years. New small business owners may be hopeful for a tax refund, a small gift to invest back into their operations. Not all types of small businesses can receive tax refunds, however. Is yours one of them? Do small businesses get tax refunds?

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Can You Hire Someone Without a Social Security Number?

Patriot Software

When you hire new employees, you are responsible for collecting new hire paperwork. You must gather information, such as an employee’s name, address, and Social Security number (SSN). But, what happens when an employee doesn’t have an SSN? Can you hire someone without a Social Security number? Get the answers to all of your burning […] 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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On-Demand Webinar: Lessons from the First 100 Days of Recreational Cannabis in New Jersey

Withum

Garden State Cannabis Regulatory Commissioner Krista Nash Keynote Presentation. Krista Nash , NJ Cannabis Regulatory Commissioner, reflected on the first 100 days of recreational cannabis and shared her insights and predictions for the cannabis industry in the Garden State. With over 230 businesses with temporary permits, she touched on the next phase of this multi-billion-dollar industry including regulations, enforcement efforts and ways to support the social equity program.

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Gross vs. Net Pay: What’s the Difference?

Patriot Software

Running payroll can be confusing. Although it’s natural to have payroll questions when starting out, you can’t afford to get tripped up when it comes to gross vs. net pay. Knowing the difference between gross and net pay impacts employee wages, payroll withholdings, recordkeeping, and even employer laws. Learn gross pay vs. net pay, how […] READ MORE.

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Reconciliation: a Short Feature Overview

Snyder

Why is the Reconciliation feature so important? Reconciliation is the process of identifying and correcting accounting mistakes, omissions, or inconsistencies in financial records. It’s a process that every company must go through to ensure their books are balanced and accurate. Having an organized reconciliation system can save you time and money by reducing manual intervention and minimizing the risk of error.

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7 Ways to Transition Your Team to New Technologies

Intuitive Accountant

New technology can help your firm streamline its processes, communication and workflow. But are you doing it? Client Hub's Judie McCarthy shares tips on making the leap.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Why Is Data-Driven Analytics of Interest to Companies?

Snyder

The success or failure of your business is mainly determined by the type of business decisions you make. So, your main responsibility as an entrepreneur is to ensure that your business decisions are well-informed. To make well-informed decisions you must carefully analyze the data available to get actionable, data-driven insights. But what are data-driven insights and how do they affect your business?

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AICPA proposes revisions to tax standards and 1040 crypto question

Accounting Today

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Even KPMG in South Africa Could Not Escape the Clutches of PCAOB Enforcement

Going Concern

Earlier today the PCAOB gave KPMG of the South African variety a slap on the wrist and punished a couple of partners for the firm collaborating with an outside accounting firm not registered with the PCAOB on three years ’ worth of audits of a public company. That non-registered accounting firm was KPMG Zimbabwe. And these two KPMG affiliates have a history of getting into trouble together.

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Surprise: Borrowers may face up to $1,100 in state taxes on forgiven student loans

Accounting Today

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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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What Is the Penalty for Not Paying Payroll Taxes?

Patriot Software

Collecting, reporting, and remitting payroll taxes are some of your key responsibilities when you have employees. And if you forget or downright neglect your responsibility, your small business could receive a penalty for not paying payroll taxes. Whatever your reason for missing your deposit deadline, not paying payroll taxes is a big deal to the […] READ MORE.

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The next business model for accounting firms

Accounting Today

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Washington Paid Family and Medical Leave

Patriot Software

This article has been updated to include 2022 tax information. As an employer, you must stay on top of your payroll responsibilities, including federal, state, and local taxes and deductions. If you are an employer with employees who work in Washington state, you need to know about the Washington paid family leave program. What is […] READ MORE.

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Ledgible releases crypto tax guide

Accounting Today

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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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ICYMI: KPMG Is Downsizing Its NYC Digs Big Time

Going Concern

KPMG announced last week it will relocate its headquarters to Two Manhattan West, a new building in Midtown Manhattan’s West Side slated for completion in 2023. The new digs mean a huge 40% reduction in NYC office space, signaling the firm expects hybrid work to persist for the foreseeable future and then some (sorry, Boomers). From the press release : When construction on KPMG’s new space at Two Manhattan West – part of Brookfield Properties’ Manhattan West neighborhood – is c

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PCAOB fines KPMG South Africa for using unregistered Zimbabwe affiliate

Accounting Today

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Semiconductor (Microchips) Manufacturing Reshored to USA 

Withum

The Chips and Science Act, signed into law on August 9 by President Biden, contains $52 billion in subsidies and tax credits for global chip manufacturers to expand their footprint in the USA. [1]. United States manufacturing employment decreased 33% from 1985 to 2014. During the same period, the United States semiconductor manufacturing, accounting for 1.7% of the total of the United States manufacturing workforce, lost 35% of its employees.

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CFOs feeling gloomier about economy in Q3

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.