Thu.Jan 05, 2023

article thumbnail

The 7-Step Pathway to Reducing Your Workload

Ryan Lazanis

You may be starting an accounting firm and unsure how to build it without burning yourself out, or you may have a 6- or 7-figure firm where you’re working too much. I’ll share a 7-step path you can follow to significantly minimize your workload. Listen Below. 1:17 – The goal of each step will be to better systematize your business and/or significantly shield your time from areas that you should not be involved in. 2:00 – Step 1 in the pathway to reduce your workload is to

article thumbnail

Tax strategies to usher in 2023

Accounting Today

Tax 119
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

An Accounting Firm Is Hiring an Honest-to-God Actor to Perform in a Client Onboarding Video

Going Concern

Googling “accounting firm” as I do each and every day multiple times a day in the hopes today is the day that something interesting happens in the accounting profession, I came across this ad looking for an actor to serve as “accounting firm spokesperson” in a client onboarding production. Anyone wanna make $75 an hour? Surely it’s more than most of you are making now.

article thumbnail

What About QuickBooks Card Readers?

Insightful Accountant

Someone wrote in asking about the different types of QuickBooks card readers for use with Payment Services. Which one do you have?

article thumbnail

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.

article thumbnail

IRS Announces 2023 Standard Mileage Rates and Vehicle Value Limitations

ThomsonReuters

IRS Notice 2023-03 (Dec. 29, 2022); IRS News Release IR-2022-234 (Dec. 29, 2022). Notice. News Release. The IRS has announced the optional 2023 standard mileage rates for business, medical, and other uses of an automobile, and the 2023 vehicle values that limit the application of certain rules for valuing an automobile’s use. For 2023, the business standard mileage rate is 65.5 cents per mile (a 3-cent increase from the 62.5-cent rate that applied during the second half of 2022—see our Checkpoin

article thumbnail

The Year Ahead

Insightful Accountant

Canopy's Tax Resolution Subject Matter Expert Jason Penninger provides his thoughts on what the accounting profession might expect to see in 2023.

Tax 104

More Trending

article thumbnail

The Financial Close Process Explained

AccountingDepartment

With 2022 behind us, it's time to start focusing on closing the books for the year and putting 2023's goals in the sights of business owners. Closing the books is a critical business process for many reasons. Doing so leads to the data needed for the creation of financial statements that can guide strategy and decision-making for business owners.

article thumbnail

Finding the power in your firm's purpose

Accounting Today

97
article thumbnail

Year-End Appropriations Legislation Contains Group Health Plan Provisions

ThomsonReuters

Consolidated Appropriations Act, 2023, Pub. L. No. 117-328 (Dec. 29, 2022). Available at [link]. Congress has passed, and the President has signed, the Consolidated Appropriations Act, 2023 (CAA, 2023), containing provisions that impact both retirement and group health plan sponsors and advisors. Here are highlights of the provisions affecting group health plans: Telehealth/HDHPs.

article thumbnail

College admissions cheating mastermind gets 3 1/2 years in prison

Accounting Today

Tax 96
article thumbnail

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.

article thumbnail

No One Cares But Here Are PwC’s 2023 Metaverse Predictions Anyway

Going Concern

What’s next for the metaverse and what — if anything — should you do about it? PwC has answered the question no one is really asking in its 2023 metaverse predictions. These predictions are, as you’d expect, dumb made assuming that businesses and consumers alike will begin using the metaverse in earnest rather than making this gesture in its general direction: ¯_(ツ)_/¯.

article thumbnail

Transform finance teams into forward-thinking profit centers

Accounting Today

Finance 84
article thumbnail

IRS Audit Triggers—and How to Avoid Them

Patriot Software

You have a lot to deal with to keep your company operating. One thing you don’t want to have to handle? An IRS audit. While some audits happen randomly, others trigger from red flags in your records. What are these IRS audit triggers, you ask? There are common red flags that could trigger an audit, […] Read More.

audit 59
article thumbnail

Here's how to weather a coming recession: Fire your clients

Accounting Today

75
article thumbnail

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.

article thumbnail

How to address the growing skills gap in global trade management

ThomsonReuters

A new whitepaper from the Thomson Reuters Institute (TRI) explores the causes of a growing skills gap in global trade management, and proposes several solutions. Multinational companies the world over face an increasingly common problem —namely, they are finding it difficult to hire people with the skills and experience needed to fill many key global trade management positions.

Legal 11
article thumbnail

KPMG acquires Arnold Group

Accounting Today

article thumbnail

4 Ways to Future-Proof the Finance Team

MineralTree

The Current State of Finance. There’s no debating that the COVID-19 pandemic has shifted how companies operate. Faced with staff cuts, the Great Resignation, and supply chain issues, executive teams must now carefully strategize how to propel their companies in the right direction. So where are they setting their focus in the new year? According to data from Gartner , the top three most difficult tasks for CFOs to manage in 2023 include: hiring and retaining staff (54%); forecasting (36%); and c

Finance 55
article thumbnail

Tax incentives eyed to support local journalism

Accounting Today

Tax 64
article thumbnail

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.

article thumbnail

Clarification on the manner of dealing with differences in ITC availed FORM GSTR-3B Vs ITC reflecting in GSTR-2A for FY 2017-18 and 2018-19

VJM Global

The issue around the basic tool of GST , i.e., matching ITC availed by the taxpayer in his GSTR-3B with ITC auto-populating in GSTR-2A is ongoing and the department is coming up with various amendments and clarifications to streamline the system. Taxpayers have faced various notices or alerts from the department because of this difference. Now when the department has commenced the assessment of FY 2017 -18 and 2018-19, ITC disallowance on grounds of Invoices not appearing in GSTR-2A has become c

cma 52
article thumbnail

IRS ticks off Tesla and makes Hyundai happy with EV tax credits

Accounting Today

Tax 64
article thumbnail

Striving 'To Be Greater'

Intuitive Accountant

The Bonadio Group grows its leadership team with promotion of four partners across the firm.

52
article thumbnail

Tax Fraud Blotter: Backing the wrong horses

Accounting Today

Tax 59
article thumbnail

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.

article thumbnail

7 Budgeting Tips to Implement in 2023

Basis 365

Budgeting is an essential part of any business. However, many companies need help managing their finances and making the right decisions. We've developed seven budgeting strategies for businesses looking to scale in 2023. 1.Define and understand the risks When you are creating your budget for the year, make sure you consider the risks. These could be financial risks such as a sudden drop in sales or an increase in expenses that lowers your profit margin for the quarter.

Sales 52
article thumbnail

Private sector added 235K jobs in December

Accounting Today

payroll 52
article thumbnail

Must-Follow Marketing Techniques to Increase Sales in 2023

Snyder

There’s no doubt that every business aspires to grow. A more complicated issue is how to fuel this potential growth in the changing sales landscape. With everybody selling or buying something on a daily basis, which means a lot of competition, the major thing is to implement some working strategies that can help a company scale steadily. Sales people today know numerous techniques that can boost sales, but the crucial moment is to define which one or maybe a combination of which techniques or st

Sales 52
article thumbnail

Can Our Health FSA Reimburse Vitamins?

ThomsonReuters

QUESTION: Several participants in our company’s health FSA have asked whether vitamins qualify for reimbursement. What should I tell them? ANSWER: Unless your plan imposes additional limits, the answer depends on whether the vitamins are being taken for general health or for a specific medical condition. Health FSAs can only reimburse expenses that are for “medical care” as defined in Code § 213(d).

article thumbnail

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.

article thumbnail

R&D Tax Credits: 2022 Year in Review

Cherry Bekaert

2022 brought significant developments to the tax treatment of Research & Development (R&D) costs. There was significant activity regarding the timing of deductions, reporting requirements for amended tax returns and proposals for reporting in future tax years. This article highlights key developments and their details. Section 174 Amortization of Research and Experimental (R&E) Expenditures.

Tax 40
article thumbnail

FAQs (Part 56) Announce Delay, Good Faith Enforcement Relief for Prescription Drug and Health Care Spending Reports

ThomsonReuters

FAQ About Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 56 (Dec. 23, 2022). Available at [link]. The DOL, HHS, and IRS have jointly issued FAQs (Part 56) with enforcement relief and a delay for reporting data under a transparency provision included in the Consolidated Appropriations Act, 2021 (CAA, 2021), which requires group health plans and insurers to annually report prescription drug and health care spending, premiums, and enrollment information to the go

article thumbnail

KSM's Noble Consulting acquires Eide Bailly's insurance practice

Accounting Today

40
article thumbnail

SECURE 2.0 Act Provisions Enacted as Part of Year-End Appropriations Legislation

ThomsonReuters

Consolidated Appropriations Act, 2023, Pub. L. No. 117-328 (Dec. 29, 2022). Available at [link]. Congress has passed, and the President has signed, the Consolidated Appropriations Act, 2023 (CAA, 2023), containing provisions that affect both retirement and group health plans. Retirement plan provisions are set forth in a portion of CAA, 2023 known as the SECURE 2.0 Act of 2022 (SECURE 2.0), as some elements build on provisions in the original Setting Every Community Up for Retirement Enhancemen

article thumbnail

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.