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Cash is king! Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Inflows for your Construction Company primarily come from selling goods or services to your customers, but keep in mind that inflow only occurs when you make a cash sale or collect on receivables.
By Nick Hawkins, Inc. (TNS) For the past two decades, tipped employees have had the responsibility of reporting their tips to the IRS. Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. There are a number of voluntary programs designed to encourage compliance by tipped employees but, you know.
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. News The leak that puts a multibillion-dollar industry at risk [ Sydney Morning Herald ] A foolish attempt to help multinational companies avoid paying tax in Australia has spectacularly backfired on the multibillion-dol
By Twyla Verhelst, CPA. Preparing and filing your taxes are unavoidable tasks that it’s safe to say most people don’t enjoy. Tax time can be especially daunting for small business owners and the self-employed, who must organize their financial information for the year and ensure they have set aside enough money to cover their tax liabilities. A recent survey by FreshBooks found that 80% of American small business owners feel at least some stress at tax time. 60% of respondents chose one or more
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.
Withum is proud to share that Opus Connect, an exclusive network of M&A professionals, named Caroline Banzali , Partner and leader of the M&A Transaction Tax Practice , on their annual Top 23 Women in M&A List. Caroline has over 20 years of experience spanning all business lifecycle stages and industries, making her a strategic partner for clients looking for personalized, comprehensive guidance.
Interest rates remain high and home buyers are looking for ways to save money, including buying mortgage points. A recent analysis of data from the Home Mortgage Disclosure Act (HMDA) by Zillow Home Loans finds nearly 45% of conventional primary home borrowers opted to purchase mortgage points in 2022 as a way to reduce their monthly payment. The historically low interest rates of 2019–2021 saw far fewer buyers opting for points — 29.6% in 2021, 28.4% in 2020 and 27.3% in 2019.
Another day, another Financial Reporting Council fine for KPMG. This time it is related to their audit of TheWorks.co.uk, a discount retailer specializing in arts, crafts, toys, books, stationery, and perpetual fire sales of various cheap stuff with which to clutter your domicile and desk drawers. Like if Hobby Lobby, Borders, KB Toys, and a souvenir stall at the Washington Monument had a baby On Wednesday, the FRC announced sanctions against KPMG and lead engagement partner Anthony Sykes in rel
Another day, another Financial Reporting Council fine for KPMG. This time it is related to their audit of TheWorks.co.uk, a discount retailer specializing in arts, crafts, toys, books, stationery, and perpetual fire sales of various cheap stuff with which to clutter your domicile and desk drawers. Like if Hobby Lobby, Borders, KB Toys, and a souvenir stall at the Washington Monument had a baby On Wednesday, the FRC announced sanctions against KPMG and lead engagement partner Anthony Sykes in rel
My recent blog, Top Seven Microsoft 365 Features To Modernize Traditional Work Habits , sparked a further conversation with a colleague about Microsoft accessibility and inclusion while we were finalizing some of the languages in the Teams transcription section. Now, I am pleased to expand on some of the accessibility and inclusion features included in several of the Microsoft products.
620 tech companies have laid off 184,616 employees so far in 2023 per Layoffs.fyi , up from 164,511 employees in 2022 and we’re not even halfway through the year. The good news is tech layoffs are trending down for now after a peak in January, hopefully we don’t repeat last year’s pattern. via Layoffs.fyi It goes without saying that people who work in tech are scared, or at least feeling less empowered than they were in 2021.
Consumers plan to spend a total of $35.7 billion on Mother’s Day this year, nearly $4 billion more than last year’s record high of $31.7 billion, according to the annual survey from the National Retail Federation and Prosper Insights & Analytics. Eighty-four percent of U.S. adults are expected to celebrate the holiday. “Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF President and CEO Matthew Shay said.
I participated in my office’s “Bring Your Kid to Work” day yesterday. I spoke to 10 kids ages 8 to 13 about my wonderful profession of public accounting. I had a blast and held their attention for the half hour I was allotted. First of all, I did not dumb down my presentation. What I did was shorten it to gear it to kids that either did not know squawk about accounting, knew it was something one of their parents did, or came because they were told they would have fun and get to play with other k
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.
Avalara, Inc. , a provider of cloud-based tax compliance automation for businesses of all sizes, has announced the return of Avalara CRUSH in person, its annual tax and technology event. This year, CRUSH is expanding into eight, one-day regional events across the U.S. and in the U.K. These complimentary events are designed to help businesses of all sizes navigate compliance and help ensure it doesn’t stand in the way of opportunity.
The role of technology in modern CPA firms has been growing rapidly in recent years. The adoption of new technologies has brought significant benefits to CPA firms, including increased efficiency, improved accuracy, and better client service. However, technology adoption also comes with challenges, such as increased cybersecurity risks and the need for ongoing training.
While PwC continues to lead Vault’s ranking of the best accounting firms to work for, it no longer holds the title of “most prestigious accounting firm.” That now belongs to Deloitte. Vault, which provides career resources and advice to students and job seekers, just came out with its 18th annual ranking of accounting firms based solely on prestige.
Introducing Payhawk, the leading spend management solution for scaling businesses. Learn more about them before meeting the team at Accountex… What do Payhawk do? Payhawk is the leading spend management solution for domestic and international businesses throughout Europe, the US, and the UK. Combining company cards, reimbursable expenses, accounts payable, and seamless accounting software integrations into a single product, Payhawk makes business payments easy — for everyone.
“Every moment is a fresh beginning.” – T.S. Eliot Just a short note this Friday to let you know that this blog will be appearing on a new website. Have a great weekend!
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