Fri.Sep 16, 2022

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IRS Notice of Deficiency – Help Rights &Options

MyIRSRelief

Receiving an IRS Notice of Deficiency, also known as a “90-day letter,” is a serious matter that requires prompt attention. If you receive this notice, it means that the IRS has determined that you owe additional taxes and that you have 90 days to either pay the amount in full or file a petition with the U.S. Tax Court. If you need tax representation, call us at 1-877-78-TAXES [1-877-788-2937].

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TAX PLANNING 101: Busting the Myth that Tax Planning is Only for the Rich! Part 1

CTP

By now, everyone has figured out that America’s wealthy and elite are not always avoiding taxes through illegal means. There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.

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Creating an Unlimited PTO Policy

Patriot Software

Offering paid time off (PTO) is a benefit many small business owners extend to employees. Although the Fair Labor Standards Act (FLSA) does not typically require PTO, many business owners provide paid vacation and personal days. And, some employers may even offer unlimited PTO policies. Have you considered creating an unlimited PTO policy for your […] READ MORE.

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Equifax Verification – A QuickBooks Desktop 2023 Feature

Intuitive Accountant

New for 2023, QuickBooks has partnered with Equifax to automate employment and income verification. No data is shared unless the employee specifically makes a request. Employers also can opt out of this service.

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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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Doffing and Donning Definition

Patriot Software

Employers might require employees to wear uniforms or protective gear depending on the type of business and work environment. To follow federal and state laws, employers must know the regulations of employees putting on and taking off work-related gear and clothing, otherwise known as donning and doffing. Learn more about what is donning and doffing, […] READ MORE.

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Making the Business Case for AP Automation

Intuitive Accountant

For a variety of reasons, it can be difficult to convince some executives to make the investment in AP automation. MineralTree COO Elizabeth Kowal explains how to make it happen.

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Construction Company Employee Compensation And A Note On Taxes

Randal DeHart

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. When paying employees, laws and the IRS have made the payroll function a time-consuming nightmare for the small business owner.

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9 IRS Payroll Forms for Small Business

Patriot Software

As an employer, one of the biggest responsibilities you have is knowing which payroll forms to fill out. With so many forms out there, it can be difficult to know which apply to your business. Learn which IRS payroll forms your small business must file, due dates, and where to send each form. 9 IRS […] READ MORE.

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Sales Tax Issues for Online Retailers

Withum

It is no surprise that states are seeing significant growth in sales tax revenue, a trend fueled by changes in consumer spending during the pandemic. According to a report issued by the National Association of State Budget Officers, median sales tax revenue grew by more than 9% in fiscal 2021, which ended June 30th, and state revenues increased by 12.8%.

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Is Your Employee Asking for a Raise? Here’s What to Do

Patriot Software

At some point, an employee may ask for a higher salary or hourly wage. Although raise conversations can be uncomfortable for both you and the inquiring employee, you need to know how to handle them. What do you do when an employee is asking for a raise? What to do when an employee is asking […] 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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Budget Season is Here. Are You Ready?

AccountingDepartment

Budget season is underway and it is time for financial teams to come together and start planning for 2023, but are you ready? Going into a new year with a clear and concise budget is something that cannot be overlooked by a business owner.

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Service sector SMEs face cash crunch as impact of inflation bites

Accounting Insight

Latest research by alternative lender Capify finds Business and Professional Services SMEs increasingly concerned about cash reserves, as income struggles to keep pace with rising costs. . But survey also points to longer-term optimism with 65% projecting turnover growth over the next 12 months. A growing number of Business and Professional Services (BAPS) business owners are facing a shortage of cash in the bank, a new survey from specialist finance provider Capify has found.

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EY Might Not Make Buckets of Money From This Split Thing After All

Going Concern

The Wall Street Journal has an article today suggesting that the EY audit/consulting split may not be the big money pay day EY is banking (heh) on. Why? Consulting is a competitive market and the economy isn’t looking so great these days, and EY’s separated consulting biz will not necessarily have the brand recognition in the space to start.

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Future Forward 2022: The Bank Your Brain Blueprint™

Intuitive Accountant

Insightful Accountant's Gaynor Meilke and Gary DeHart delve into how you can build a personal brand and monetize your intellectual property. Sign up for the Oct. 4 webinar now.

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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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CliftonLarsonAllen is Still the Constructioniest of All Accounting Firms

Going Concern

You may or may not be aware that there is such a thing as Construction Executive magazine, and you may or may not be aware that Construction Executive magazine has ranked accounting firms with construction practices for the past four years. You may or may not be aware that there is an accounting firm called CliftonLarsonAllen, and you may or may not be aware that CLA (as the cool kids call it) has been named the top construction accounting firm all four years of the trade publication ’s ranking.

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Growing by the Numbers: Accounting Firm Growth Strategy

Patriot Software

Any successful accounting firm has a growth strategy in place. You can’t afford not to. But, have you ever wondered if your accounting firm growth strategy is working? It’s always a good time to take your business expansion strategy back to the drawing board. We’ve put together a list of our top six tips for […] READ MORE.

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INSIDE Public Accounting Names KROST Best of the Best Firm and Top 100 Firm

KROST

PASADENA, CA – KROST CPAs & Consultants was recognized as the Best of the Best Firm and Top 100 Firm by INSIDE Public Accounting in 2022. Out of nearly 600 of the largest firms in the country, KROST was ranked 75th on the Top 100 list based on revenue. With a net revenue of greater Read the full article. The post INSIDE Public Accounting Names KROST Best of the Best Firm and Top 100 Firm appeared first on KROST.

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Understanding the §179D Tax Deduction for Humans, Part 1

Going Concern

Who qualifies for the $1.80 $1.88 $2.00 $5.00 per sq ft tax write-off? If you listen closely, you can hear it: The IRS Section 179D tax deduction is suddenly generating a lot of buzz. The provision, which provides incentives in the form of tax deductions to commercial building owners and designers of government-owned buildings who meet specific energy efficiency requirements, has proven popular since going into effect in 2006.

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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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Expanded 45L and 179D energy efficiency tax breaks have implications for real estate owners

Accounting Today

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4 Ways to Fight Employee Burnout With Automation

GrowthForceBlog

7 min read. Employee burnout is a real threat to business operations.

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PCAOB plans to update some long overdue auditing standards

Accounting Today

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Women in business shoutout to their biggest inspiration!

Reckon

Reckon is like an accountant in your pocket – but we’re not the only ones making small business life easier. We invited Reckon clients to tell us about the people in their lives who’ve made their success possible. Katy Walker, Amanda Stevens and Christine Metcalfe share the stories of their pocket pals who’ve inspired them and who have always had their back through their professional journeys.

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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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Inflation Reduction Act significantly changes 179D building deduction

Accounting Today

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Friday Footnotes: Screw the Office; Auditor Sues EY For Doing Her Job; IRS Levels Up | 9.16.22

Going Concern

Big 4. Deloitte plays both sides of the field in Mercedes-Benz case [ Australian Financial Review ] Mercedes-Benz dealers have discovered long-time auditor Deloitte was banking huge fees from them while secretly working with the German parent company to write reports that would “disguise” the damage a switch in the business model would do to dealers’ profit margins, a court has heard.

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Study: Companies get stock boost from appointing Black CEOs

Accounting Today

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TAX PLANNING 101: Ideas for Reducing Taxable Income and Maximizing Tax Credits Part 2

CTP

We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. So, if lowering your AGI is considered “above the line” deductions, are there then “below the line” deductions to can be implemented as well?

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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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Tech News: OneStream rolls out new capacities

Accounting Today

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TAX PLANNING 101: Ideas for Reducing Taxable Income and Maximizing Tax Credits Part 2

CTP

We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. So, if lowering your AGI is considered “above the line” deductions, are there then “below the line” deductions to can be implemented as well?

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Technology improves access to learning, says ACCA report

Accounting Today

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On-Demand Webinar: Key Considerations for Your Healthcare ERISA Plan

Withum

Listen in as Kevin McElgunn , Ana Romeo , and Israel Tannenbaum of Withum’s Employee Benefit Plan Team discuss key considerations for employee benefit plan audits that healthcare organizations should be aware of. . The team will share their lessons learned and practical recommendations related to plan mergers, 403(b) nuances, Form 5500 requirements, voluntary corrections, common plan deficiencies and the financial impact that COVID-19 had on plans.

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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.