Tue.Jan 17, 2023

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An Important R&D Tax Credit Update Impacting Startups in 2023

BurklandAssociates

By Nancy Torretta and Sam Leon An update to IRC Section 174 took effect January 1, 2022 that will impact the R&D Tax Credit for startups. What is IRC Section Read More. The post An Important R&D Tax Credit Update Impacting Startups in 2023 appeared first on Burkland.

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The latest on sales tax on shipping charges (part 1)

TaxConnex

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”. Three terms with confusing differences as you try to meet sales tax obligations in states and jurisdictions where you have economic nexus.

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If Your Parents Were Poor, It Takes Longer to Climb the Ladder at KPMG (No Really)

Going Concern

Big 4 firms spit out all kinds of research — very little of which rates a mention beyond maybe somewhere in a linkwrap if that — but this research from KPMG we’re about to share with you (which we did bury in a linkwrap some weeks back ) deserves a callout of its own. Not because it’s so stupid or fluffed with buzzwords, as much as we enjoy calling both of those things out.

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How the CPA, CMA and EA Credentials Have Become Global Designations

CPA Practice

By Shawn Parikh. In the last few years there has been a shortage of critical skills with regards to the accounting profession and especially in the output of North American and European professionals with CPA, EA and CMA qualifications. This accounting qualification shortage has put a squeeze on firm owners who require individuals with these designations.

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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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Building Playgrounds for Everybody With Build Jake’s Place

Withum

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Building Playgrounds for Everybody With Build Jake’s Place appeared first on Withum.

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State CPA Society News & Updates

CPA Practice

State CPA Society Ne ws is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. The Society is offering free wellness webinars to all of its members to help them prioritize both physical and mental health.

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How to Grow Your Firm with Payroll Services

CPA Practice

By James Paille. In 2021, 67% of accounting firms reported they offered payroll services to their clients. Accounting firms today know offering client payroll services can lead to significant revenue growth for their practice. Offering payroll can lead to an immense value add for your clients while boosting revenue and profits for your firm. Deploying the right payroll solution can help firms drive efficiencies, minimize time-consuming manual data entry tasks, and improve accuracy.

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A Spanish Communist Is Concerned About Excessively Long Hours at Big 4 Firms

Going Concern

This story was highlighted in yesterday’s Monday news brief but it deserves its own spot so that future generations might Google “Big 4 abusive practices” and stumble upon it. Financial Times reported that the labor ministry of Spain sent inspectors to the Madrid offices of Deloitte, EY, KPMG, and PwC back in November in the course of investigating “potentially abusive practices.” Mainly the ministry wants to know if “there are any overtime hours for which emp

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How to Expand a Business to Another State

CPA Practice

By Nellie Akalp. Are your clients interested in expanding their businesses to a new state? Here’s a valuable guide to help you advise them as they grow their businesses. Foreign Qualification. If your client wants to keep their home state as the primary state of business and expand their business to another state, the first determination is whether they must file for foreign qualification.

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Lockstep Inbox Product Updates 01.18.23

Lockstep

The Lockstep Team is excited to share some of the latest updates to the world’s first shared inbox designed for accounting, Lockstep Inbox. These enhanced features, included in the free application are designed for you to collaborate more efficiently, connect with customers and vendors smarter, and save you hours of manual processes each and every week.

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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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Eide Bailly Sees Risk Awareness Driving Growth in Sales Tax Automation

CPA Practice

Eide Bailly sees risk awareness driving growth in sales tax automation. Sales taxes continue to be one of the most dynamic and risk prone areas of business operations, particularly since so many businesses are still not fully aware of their compliance requirements. Nearly five years following the U.S. Supreme Court decision in South Dakota v. Wayfair, Inc., which enabled states to implement economic nexus laws, businesses continue to discover, sometimes through painful audits, that they have una

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How Your Business Can Generate More Revenue with Outsourced Virtual CFO Services

IgniteSpot

Implement data tracking. An invoice here, a receipt there. Wouldn’t it be helpful to put all key information in one place instead of playing “find the document?” Virtual CFO services help get your house in order by centralizing data, so your team knows where and how to access it.

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How to Increase Board Member Engagement

GrowthForceBlog

8 min read. In the for-profit world, business owners continuously talk about the importance of employee engagement. Engagement directly correlates with productivity and profits. Key Takeaways. Why Engagement Is Important for a Nonprofit Board of Directors: Having an engaged board is not just important; it's vital. The success and positive impact of your nonprofit's mission depend on your board members' engagement….

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The Impact of New Lease Standards on Debt Covenants

CPA Practice

By Ane Ohm. For accounting firms, this is the calm before the storm. The year is over, and it’s likely to be a few weeks before year-end financial reports start coming in from your clients. But particularly if your clients are primarily private companies, there’s a task you can do right now to save both yourself and them problems later: Make sure your clients talk to their banks about how the ASC 842 lease accounting standard could affect their debt covenants.

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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.

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Starting a New Business & Launching Successfully: Tax and Business Planning Tips

Cherry Bekaert

Stay Connected Starting a new business can be daunting. On this episode of the Private Client Services podcast, Greg Kellar , Tax Senior Manager, and TJ Wilson , Partner and Leader of the Firm’s Gastonia tax practice, walk through the necessary steps when starting a new business. They pay special attention to the importance of tax and business planning components, such as entity selection, capitalization (funding of business), loan structures, bylaws, insurance and relationships with professio

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Nonresident alien tax 101

ThomsonReuters

Tax season can be a confusing and challenging time of year for businesses. This can be especially true for businesses who employ nonresident aliens, as nonresident alien tax can become complicated. . Thousands of nonresident aliens are employed in the United States each year and many of them work for small business owners. . Helping business owners navigate the complexities is an ideal opportunity for tax and accounting professionals to strengthen their role as a trusted advisor.

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How Salesforce Native Apps Work Together to Provide Data in Real-time

Accounting Seed

Salesforce native accounting gives your company real-time data views that can quickly spotlight opportunities to grow revenue and lower costs. But what does “Salesforce native” mean? Businesses operate on data. Sales, operations, finance, and other departments all generate their own useful data streams, but this information is traditionally stored in different systems that don’t play well together.

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Intuit QuickBooks Names Tiffany Beltis New ProAdvisor Program Leader

Insightful Accountant

In her new role, she will help ensure the ProAdvisor Program meets the needs of the ProAdvisor community.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Special Report: Avalara Tax Changes 2023

CPA Practice

The idea of returning to “business as usual” was a nice thought after three difficult years spearheaded by COVID-19, political unrest, and digital expansion. Unfortunately for businesses, the world — and tax compliance — are as complex as ever. . The Avalara Tax Changes 2023 report is a great resource to expand your tax compliance education and awareness.

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LiveFlow @ QuickBooks Connect 2022

Insightful Accountant

Check out how to create customized financial dashboards that allow you to eliminate manual data entry and put your financial reporting on autopilot.

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Consumer Spending Grew 7.7% in December

CPA Practice

By Jonnelle Marte, Bloomberg News (via TNS). Spending by U.S. consumers is growing at a slower pace and the share of households making major purchases in recent months declined, according to a report from the Federal Reserve Bank of New York. Monthly household spending grew by 7.7% in December from a year earlier, down from a high of 9% reached in August, according to survey results released by the New York Fed on Tuesday.

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Liscio @ QuickBooks Connect 2022

Insightful Accountant

See how the technology will help better your business and easily transform your firm into a digital powerhouse with a quiet, simple-to-use platform that elevates your practice.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Staff Benefits Review – A Menzies Wealth Management Case Study

Menzies

Menzies LLP - A leading chartered accountancy firm. A successful professional services business with 70 employees, which prided itself on offering excellent training and apprenticeships guiding young graduates through to full qualification sought out Menzies Wealth Management to provide a review of it’s employee benefits scheme. The scenario. Whilst wishing to attract excellent staff at all levels of the organisation, over the years it had become increasingly apparent that whilst its salar

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Don't Miss Today's QB Talks on QuickBooks Enterprise 2023

Insightful Accountant

Today's edition of 'QBTalks' features Esther Friedberg Karp and Murph discussing the powerful capabilities of QuickBooks Enterprise 2023. You really don't want to miss it!

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Why Outsource Provider Enrollment and Credentialing?

Anders CPA

Why would a health care organization consider outsourcing provider enrollment or credentialing? Health care providers must complete the provider enrollment process before being able to bill insurance companies, but the procedures can be lengthy, complicated and susceptible to mistakes. Mistakes can lead to delays in provider onboarding, which could cost a group $10,000 or more a day in potential revenue.

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How to Grow Your Practice Through Advisory Services

Insightful Accountant

Add six figures to your practice by offering a service that your clients really want—especially in times of trouble. Learn more about The CFO Project webinar here.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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7 Business Tips for Beginners to Keep in Mind

Patriot Software

Becoming a business owner is no easy task. It takes time, dedication, money, and more. Chances are, you’ll probably make a few mistakes along the way. But if you follow a few business tips for beginners, you can avoid making common startup mistakes and set yourself up for success. 7 Business tips for beginners When […] Read More.

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Surviving a Tax Audit

FraudFiles

Income tax audits are intimidating whether you are being audited personally or as a business owner. There is a right way and a wrong way to handle an audit by a state or federal taxing authority.

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Tax Digest

Cherry Bekaert

January 2023 | View this edition December 2022 | View this edition November 2022 | View this edition October 2022 | View this edition September 2022 | View this edition August 2022 | View this edition July 2022 | View this edition June 2022 | View this edition May 2022 | View this edition April 2022 | View this edition March 2022 | View this edition February 2022 | View this edition January 2022 | View this edition December 2021 | Part II | View this edition December 2021 | Part I | View this ed

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Should I reference my fees on my website? If so, how can I do this?

Mark Lee

Should I reference my fees on my website? And if so, how can I do this given how my fees vary from client to client? These are very common questions I get asked by accountants, bookkeepers and tax advisers. And my answer is always: “It depends.” ;-). It depends whether you are confident of the following 6 points. And, if you are, please don’t bother reading this blog post.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.