Wed.Dec 28, 2022

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IRS Tax Forums: Save the Date

Intuitive Accountant

Earn CE/CFP credits. Hear the latest on tax laws, cybersecurity, ethics, and much more. The "2023 IRS Tax Forums" will be held in-person, so reserve your spot now.

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Are You Ready for 1099-K Reporting in 2023?

Basis 365

Attention businesses: Do you receive customer payments via third-party apps such as PayPal, Zelle, or Venmo for your business? Unfortunately, due to the changes to 1099K reporting, you may have to report more in 2023. The 1099-K threshold will drop to $600 starting in 2022. Unfortunately, this means that many businesses can expect to see a considerable increase in 1099-Ks in 2023.

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Latisha Carter on How Xero Tailors Their Product to Fit User Needs

Intuitive Accountant

In another episode of Accounting Insiders, Insightful Accountant Publisher Gary DeHart sits down with Xero's Latisha Carter to discuss all things Xero. Check out the episode here.

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Ten questions for Payroll service providers

Basis 365

Small business owners can use payroll services to manage their tax filings and pay their payroll. However, outsourcing to a third-party payroll service provider is better than trying to handle payroll as you grow. It doesn't matter if you outsource for the first or second time. These ten questions will help you choose the right payroll service provider.

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Planning Your Restaurants 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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Latisha Carter on How Xero Tailors Its Product to Fit User Needs

Intuitive Accountant

In another episode of Accounting Insiders, Insightful Accountant Publisher Gary DeHart sits down with Xero's Latisha Carter to discuss all things Xero. Check out the episode here.

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PwC’s 2021 PCAOB Inspection Report Shows Once Again It Is Less Awful at Auditing Than the Other Big 4 Firms

Going Concern

The 2021 PCAOB inspection report season kicked off right before Christmas with the release of a batch of six big ones: PwC, Deloitte, EY, KPMG, BDO USA, and Grant Thornton. It would be tough for PwC to top its 2020 inspection report as it was nearly blemish-free. Of the 52 audits reviewed by inspectors during that inspection cycle, only one mistake was found —related to the firm’s testing of controls over and substantive testing of revenue and related accounts and inventory—for a deficiency rate

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More Trending

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How To Add Health Insurance To S-Corp 2%+ Owner W-2 In Gusto

Nancy McClelland, LLC

As anyone who’s worked with me — clients, team members, colleagues, vendors — knows, I adore Gusto Payroll. They truly changed my life for the better (not to mention the lives of thousands of small business owners) when they decided to create a tech-forward payroll company that seamlessly syncs with QuickBooks Online. (Note: our affiliate link will earn you a $100 gift card after you run your first payroll — or up to $500 if you are an accountant or bookkeeper who signs u

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What you need to consider when switching from contractors to employees

Basis 365

Like many entrepreneurs, you started your business with as few people as possible. Companies often form relationships with independent contractors, either directly or through agencies. This helps to keep costs down and allows for growth. These contractors may become employees, or you might want to hire more employees. This is a common scenario, but it cannot be obvious.

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Patriot Software Accounting Software Tops the Software Advice FrontRunners List

Patriot Software

Canton, OH Patriot Software, an accounting and payroll software provider, is a FrontRunner for Top Small Business Accounting Software. This is the eighth time in 2022 that Software Advice has named Patriot Software as a FrontRunner in their accounting software category. The FrontRunner comparison chart depends on in-depth user surveys to find the true value […] READ MORE.

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5 Small Business Accounting Trends for 2023

Basis 365

Technology is constantly evolving, so there are many small business accounting trends. Accountants must understand how to make the most of these new trends to provide clients with the best possible services. You'll need to find an experienced accounting professional who can take advantage of these innovations for small business owners. It is time to invest in automation for accounting Although automation has been a popular buzzword for a while, small business accounting will see a significant in

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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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Moving From EOS to Pinnacle with Tom Barrett

Summit CPA

The Virtual CPA Success Show: Episode 70. In this episode, Jamie Nau, our host and Summit CPA's Director of Virtual CFO, and Jody Grunden, Partner at Anders CPAs + Advisors, catch up with Tom Barrett, Certified Scaling Up Coach, Certified Pinnacle Business Guide, and former Certified EOS Implementer, to discuss his transition from EOS to Pinnacle and how he’s using this new model to help businesses thrive.

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The top 15 stories of 2022

Accounting Today

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IRS Audit Red Flags: How to Avoid Getting Tax Audited by the IRS

Snyder

Many small business owners often feel like they might be a heartbeat away from the IRS tax audit. In fact, according to the IRS data , only about 1 percent of taxpayers are facing an audit. If you’re a small business owner, however, your chances are a bit higher – about 2.5 percent of small businesses are getting tax audited. What’s interesting is that the less income you have, the higher the chance of a tax audit.

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4 reasons every firm needs a disaster recovery plan

Accounting Today

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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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How to Start an Instagram Business: A Comprehensive Guide

Snyder

We’re living in the era of Instagram, social media has become a fast-growing and promising strategy that allows your small business to find more customers and increase brand awareness. 83% of a whopping 1 billion Instagram users worldwide discover new products and services on the platform. It means that now you can use an Instagram page for sale and get access to a great number of potential clients.

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IRS updates 1099-K FAQ

Accounting Today

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Partnership And S-Corp Medical Insurance Premiums For Owners: Avoid Double-Dipping

Nancy McClelland, LLC

Note: much of the information below was pulled from the old Polito Eppich website — however, they have since merged with another firm to become Magnus Blue , and as such have removed their former blog content. My 2018 blog post linking to their article on how to properly account for partnership and S-Corp health insurance to avoid double-dipping now points to a web archive of the original site — but since that’s hard to find, I’m borrowing some of their material and shari

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The pipeline includes the present

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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Deloitte Transparently Informs Us Asians and Males Have the Highest Attrition at the Firm

Going Concern

The 2022 Deloitte Diversity, Equity, and Inclusion (DEI) Transparency Report somehow flew under our radar when it came out in August, probably because Deloitte puts out approximately 263 reports a week and it would be impossible for your average person to read and understand each and every one of them. As the name implies, the report is pretty transparent.

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Boomer's Blueprint: What are you reading?

Accounting Today

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New Pay Equity Laws Change the Landscape of Employee Pay

Patriot Software

It’s illegal to pay different wages for the same job based on race, sex, gender expression, or national origin. But, pay equity in the workplace is sometimes still a problem. What does pay inequality look like? On average, a woman in the U.S. makes $0.83 for every $1.00 a man earns. Pay inequality doesn’t just […] READ MORE.

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2022 Sales Tax Nerd Award winner named

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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Trump's tax returns to be released by House on Friday

Accounting Today