Fri.Jun 23, 2023

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Unveiling the Enrolled Agent: Unlocking the Realm of Tax Expertise and Services

MyIRSRelief

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Department of Treasury to represent taxpayers before the Internal Revenue Service (IRS).

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What is a ‘Boot’ in a 1031 Exchange?

CPA Practice

By Edward E. Fernandez, Kiplinger Consumer News Service (TNS) In the context of a 1031 exchange, “boot” refers to the portion of a transaction that doesn’t meet the tax-free criteria and thus becomes subject to immediate capital gains tax. Forms of boot might include cash proceeds, mortgage reduction and non-transaction costs. Although boot won’t disqualify a 1031 exchange, understanding its implications is crucial for optimizing tax benefits and preventing unnecessary liabilities.

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Friday Footnotes: The Profession vs. Gen Z; CPA Firms Get Back to the Office; Deloitte Quits | 6.23.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. Talent How Can the Accounting Profession Attract a Diverse Generation Z?

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Survey: Employees’ Well-Being is Getting Worse, Not Better

CPA Practice

By Christopher Zara, Fast Company (TNS) The Great Resignation may not yet be over. More people say stress at work is hurting their mental, physical, social, or financial well-being—so much so that they’re ready to quit their jobs, according to a survey released June 21 by consulting firm Deloitte and HR research and advisory firm Workplace Intelligence.

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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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Lotus Notes to Microsoft SharePoint Migration

Cherry Bekaert

As Lotus Notes was initially established in the 1980s as a standard software, the circumstances have radically transformed now that technological solutions, such as Microsoft SharePoint, have advanced in the marketplace. Organizations now recognize the power of more robust collaboration platforms for increased collaboration and productivity. In this episode of Cherry Bekaert’s Digital Journeys podcast series, Trace Armstrong , Senior Manager, and Erin Robinson , Senior Architect in our Microso

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Men are Returning to the Office Faster than Women, Says Study

CPA Practice

By Michael Sasso – Bloomberg News (via TNS). Men are giving up remote work and returning to offices in the U.S. faster than women, according to new government data. The share of men who worked at least partly at home on an average day dropped to 28% in 2022 from about 35% the year before, results of an annual survey published Thursday by the Bureau of Labor Statistics showed.

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The Ultimate Guide to Budgeting for Marketing Firms

GrowthForceBlog

8 min read Having a budget is essential for the operation of any business, including service-based businesses like marketing firms. Key Takeaways What Is a Budget: A budget is a document that outlines a business's estimated income and estimated expenditures over a specified period of time, such as an annual, quarterly, or monthly budget….

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A Guide To Building A Solid Construction Company Marketing Plan

Randal DeHart

As a contractor, having a solid business plan is essential for growing your company and attracting new clients. If you're serious about getting the best value you can for your marketing budget, you'll need to develop a marketing plan. One of the first steps is to identify your target audience. Who are your ideal clients? What are their needs and pain points?

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Fed Chairman Says One or Two Interest Rate Hikes Maybe Be Necessary in 2023

CPA Practice

By Catarina Saraiva – Bloomberg News (via TNS). Federal Reserve Chair Jerome Powell said returning U.S. inflation to 2% is crucial to support the long-term health of the U.S. economy, and that more interest-rate increases may be needed this year. Policymakers feel “it will be appropriate to raise rates again this year, and perhaps twice,” if the economy performs about as expected, even as they’ve been hiked to an appropriately restrictive level, Powell told the Senate Banking Committee Thursday.

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How to Account for Bad Debts and Record it in Quickbooks Online and Desktop

Ronika Khanna CPA,CA

One of the more unpleasant aspects of being a business owner is having to chase clients that do not pay. It is frustrating, stressful and disheartening, while attempts to collect are an unproductive use of time and can have a significant impact on cash flow, particularly if you are unprepared. A bad debt, in accounting terms, refers to an amount charged to a customer that is never paid.

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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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SOARING to Scaling New Heights

Insightful Accountant

Liz Scott prepares a primer for the sights, sounds and seminars for this year's "Scaling New Heights" in St. Louis.

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PwC Is Allegedly Looking to Sell Off Its Poisoned Government, Education and Healthcare Practice

Going Concern

Australian Financial Review is reporting today that PwC Australia may be in talks with private equity to sell off its poisoned government, education and healthcare practice. The private equity firm named in the report is Allegro Funds. It is understood a term sheet about a potential deal has been drawn up outlining details of the deal. But there are ongoing discussions about the remit of any new independent firm and whether it will work only for the public sector or also take on private sector c

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The Technology Lab Podcast – Recap of AICPA Engage 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the 2023 AICPA Engage conference, held in Las Vegas, June 3-8, 2023. The largest annual event by the association, Engage brings together professionals in all areas of practice for education, networking, and other events. Click here to go to the podcast page.

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Optimize Tax Time Workload with Outsourced Assistance: A Smart Approach to Maximizing Savings

Analytix Finance & Accounting

Tax season is often a dreaded and stressful time for many U.S. companies. As deadlines approach, businesses scramble to file taxes, which often leads to missed opportunities for maximizing tax savings. In this blog post, we will discuss the benefits of tax optimization that help companies save on tax payments and how outsourcing tax-related tasks can reduce your overall workload during this hectic time.

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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.