Thu.Dec 22, 2022

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10 Reasons Why Your Marketing Agency Should Outsource Your Accounting

GrowthForceBlog

7 min read. Do you know how much time you and each of your employees spend with each client? Do you know the true cost of each marketing service you provide? Are you charging the best price for your services? Do you know how profitable your marketing agency actually is? Key Takeaways. How Can My Marketing Firm Benefit?: Outsourcing is always less expensive than hiring full-time, in-house employees – especially high-level accounting professionals like controllers and CFOs….

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Sales and Use Tax for Leasing – Not as simple as you may think

TaxConnex

This was previously published in Monitor Daily – check out the article now! [link]. Today’s economy has allowed rental and leasing companies to flourish. Many jurisdictions impose a sales tax on the rental or lease of tangible personal property. And along with this tax imposition comes some sales tax applicability nuances depending on the type of lease, associated services and the type of property being leased.

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What Do All Those Employee Benefits Acronyms Stand For? (Part 3 of 3)

ThomsonReuters

QUESTION: Everybody in the employee benefits field uses acronyms like ALE, MLR, and ACA. What do these and other employee benefits acronyms stand for? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Health Care Reform manual. (Last week’s Checkpoint Question of the Week included acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the Checkpoint Question of the Week from the week before included acronyms from the ERISA Complia

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Deloitte UK Got a 27.5% Discount on Audit Fines For Admitting They Screwed Up

Going Concern

That sound you hear? It’s KPMG leadership breathing a heavy sigh of relief for not being the name attached to audit failure headlines this week. Our lucky winner today is Deloitte. The Financial Reporting Council has fined Deloitte UK more than £900,000 (a cool $1,081,444 Federal Reserve notes) over its shoddy audit work for building materials supplier SIG.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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An Outsourced Bookkeeper Could Be The Perfect Addition to Your Business

AccountingDepartment

Small businesses, especially start-ups, face all sorts of challenges, and one of the biggest is keeping track of financial information.

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Trends in client documentation that make accounting easier and audits less painful

Accounting Today

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Final Instructions for IRS’s 2022 ACA Reporting Forms Available

ThomsonReuters

2022 Instructions for Forms 1094-B and 1095-B; 2022 Instructions for Forms 1094-C and 1095-C. B Form Instructions. C Form Instructions. The IRS has released final instructions for the Affordable Care Act (ACA) information reporting forms for 2022. (The final forms and draft instructions were released in October—see our Checkpoint article ). As a reminder, Forms 1094-B and 1095-B are filed by minimum essential coverage providers (such as health insurers and employers sponsoring self-insured heal

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Simple Recordkeeping for Small Business: Must-have Tips

Patriot Software

For 40% of small business owners, handling bookkeeping and taxes is the worst part of owning a business. Sound familiar? If so, you might consider shirking your recordkeeping responsibilities. It’s not a big deal, right? Wrong! Recordkeeping is one of the most important things you can do. And to make things easier on yourself, there […] READ MORE.

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IRS Announces Indexing Factor to Calculate No Surprises Act’s Qualifying Payment Amount for 2023

ThomsonReuters

IRS Notice 2023-4 (Dec. 20, 2022). Available at [link]. The IRS has issued Notice 2023-4, which provides the indexing factor to be used by group health plans and insurers to calculate the qualifying payment amount (QPA) under the No Surprises Act for items or services provided on or after January 1, 2023, and before January 1, 2024. As background, the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA, 2021), expanded patient protections to shield individuals fr

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IRS tax return backlog will continue into 2023 filing season

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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HHS Issues Proposed 2024 Benefit and Payment Parameters, Announces Adjusted Annual Limitation on Cost-Sharing for 2024 Benefit Year

ThomsonReuters

Proposed Rule: PPACA, HHS Notice of Benefit and Payment Parameters for 2024, 45 CFR Parts 153, 155 and 156, 87 Fed. Reg. 78206 (Dec. 21, 2022); Premium Adjustment Percentage, Maximum Annual Limitation on Cost Sharing, Reduced Maximum Annual Limitation on Cost Sharing, and Required Contribution Percentage for the 2024 Benefit Year (Dec. 12, 2022); Fact Sheet: HHS Notice of Benefit and Payment Parameters for 2024 Proposed Rule.

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IRS offers guidance on expanded green energy home tax credits

Accounting Today

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The Ultimate Guide to Digital Transformation in Accounts Payable

MineralTree

What does digital transformation mean in Accounts Payable? Digital transformation in Accounts Payable (AP) occurs when teams use technology to automate and streamline manual processes across the back office. It evaluates existing processes across the AP workflow to identify areas of improvement and help teams unlock greater efficiencies and insights.

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Inspector general faults IRS process for denying tax exemptions to charities

Accounting Today

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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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Retirement Game Plan

Withum

I had a conversation Monday with someone in her early 50s that was hesitant to invest in the stock market. She is single with no dependents and was planning to retire in about ten years. She was worried her money wouldn’t be there when she retired if she invested in the stock market. The following is part of my discussion with her. She planned to use her investments as a base to draw against until she reached age 70, at which time she could start receiving her Social Security benefits with the 3

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Digital dollar is a long way from reality, Treasury official says

Accounting Today

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Synder’s 2022 in Review: So This Is What Happened…

Snyder

As 2022 draws to a close, we’d like to take some time and look back. This year we’ve met over 18k new awesome people who truly became a part of Synder – our e-commerce/SaaS business owners and accountants who are using our products on a daily basis and help us stay motivated. We want to thank you for being a part of this journey and staying together with us all the way.

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Tax Fraud Blotter: Courier and thieves 

Accounting Today

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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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Another Appellate Court Blocks HHS From Enforcing Certain ACA Section 1557 Nondiscrimination Provisions Against a Catholic Coalition

ThomsonReuters

Religious Sisters of Mercy v. Becerra, 2022 WL 17544669 (8th Cir. 2022). Available at [link]. Agreeing with a recent decision by the Fifth Circuit on the reach of Affordable Care Act Section 1557 (see our Checkpoint article ), the Eighth Circuit has upheld a permanent injunction prohibiting HHS from requiring a coalition of entities affiliated with the Catholic Church to perform or provide insurance coverage for gender-transition procedures.

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PCAOB sanctions six audit firms

Accounting Today

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2022 Highlights through Acterys’ Lens: Yearly Roundup

Acterys

The holiday season is in full swing with everyone taking their time to relax and unwind. It’s also the time of the year when we look back and appreciate the milestones we’ve achieved, and the customers we’ve helped accomplish amazing results by using our solutions. 2022 has been the most successful year since our inception in 2016 with immense growth in all key areas, including customer base, revenue & profit, team size, recognition by leading analysts, and penetration in the market.

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IRS revises reporting of uncertain tax positions

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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Grant Thornton’s Global Revenue Is On the Up and Up

Going Concern

Grant Thornton is the latest global accounting firm to announce “we made a shitload of money in 2022” when it released last week its revenue results for the most recent financial year : Grant Thornton International Ltd today [Dec. 14] announced its revenues grew to a record USD7.2 billion for the financial year ended 30 September 2022, up from USD6.6 billion in 2021.

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Bankman-Fried associates flip as FTX founder arrives in NYC

Accounting Today

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Chatbots don't have to be cheerful

Accounting Today

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House votes to require release of presidential tax returns

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.

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Trump bid to stall NY AG's probe thrown out by Florida judge

Accounting Today

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