Tue.Sep 19, 2023

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Metrics Matter: Five KPIs for Fintech Startups

BurklandAssociates

Fintech is a diverse sector with KPIs that vary between companies, but these five metrics should matter to wide swaths of the industry. The post Metrics Matter: Five KPIs for Fintech Startups appeared first on Burkland.

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Telecom tax and filing complexities

TaxConnex

Telecommunications companies face tougher problems than most other businesses when trying to comply with federal, state and local tax and regulatory obligations. Most of the taxes that telecom companies contend with are administered by the individual states’ Departments of Revenue (DOR) and local jurisdictions. These taxes go by various names: sales tax, communications services tax, utility users’ tax, local license tax and so on.

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PCAOB proposes to toughen rule for auditor liability for negligence

Accounting Today

The Public Company Accounting Oversight Board issued a proposal to amend its rule for an individual auditor's or audit firm's contributory liability for knowingly or recklessly contributing to violations.

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A Cautionary Tax Planning Tale: Timing and Formalities Are Critical

CPA Practice

By John M. Goralka, Kiplinger Consumer News Service (TNS) This cautionary tale is based upon the recent tax case of Estate of Hoensheid v Commissioner , TC Memo 2023-34. When owners of a company plan to sell their business, there is very often a desire to minimize the resultant income tax. This tax is effectively taxing the increase in the value of the business often earned over many years and decades into a single year.

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Which Month-End Close Automation Software is Right for You?

Companies are increasingly choosing to automate their month-end close process, hoping to get rid of manual activities, save time, and get control of the close. By allowing technology to take the wheel, finance leaders can streamline and optimize the close, leading to greater accuracy, reduced risk, and improved efficiency. This being said, it can still be difficult to find the best month-end close solution for your team.

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EY Survey: Gen Z Is Broke, Anxious, and Extremely Worried About Everything. We Can’t Blame Them

Going Concern

EY put out a press release on the results of its 2023 Gen Z Segmentation study yesterday and it’s not good. Less than a third (31%) of those born between 1997 and 2007 surveyed feel financially secure, more than half (52%) said they are very or extremely worried about not having enough money. Mind you EY surveyed only 1500 of the 2.56 billion people who make up Gen Z for this particular project.

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PCAOB Looks to Amend Rule on Auditors’ Liability for Audit Firm Violations

CPA Practice

A proposal issued by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would hold auditors and others more accountable when they negligently, directly, and substantially cause their firm to violate auditing standards. The audit regulator is proposing changes to PCAOB Rule 3502, Responsibility Not to Knowingly or Recklessly Contribute to Violations.

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More Trending

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Uncertain Times Call for Creative Estate Planning Strategies

CPA Practice

By Paula Nangle, CFP, Kiplinger Consumer News Service (TNS) Does the thought of estate planning trigger a surge of anxiety? If so, you’re in plentiful company. Estate planning can be one of the most intimidating, complex and emotionally charged financial necessities a family takes on together. There is little room for error, as savers look to safeguard their legacies and protect their families for generations to come.

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The Leadership Files: Avani Desai 

Accounting Today

For the head of Top 100 Firm Schellman, leadership starts with self-aware people who don't hesitate to challenge the status quo — or their leader.

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4 Tips on Managing a Multigenerational Workforce

CPA Practice

There is no need to alert this audience to the acute shortage of CPA talent. But it’s still worth underscoring how important it is for CPA firm leaders to closely monitor the job satisfaction of these precious resources — especially at a time when many of these professionals might be thinking about making a job change soon. Research from Robert Half found that 41% of accounting and finance professionals either have a job search already underway, or they plan to launch one by year-end.

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Withum Team Members Donate $33,000 to 8 Organizations

Withum

Giving back is one of the ten tenets of the Withum Way — a code that Withum team members work and live by. Volunteerism and the spirit of philanthropy spread quickly, so it is no wonder why team members in offices from coast to coast contributed to the donation campaign. At the end of each fiscal year, team members are given the opportunity to donate their unused PTO days to a variety of nonprofits at the rate of $50/day donated.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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Accounting Websites: 43 Examples for Modern Firms

Ryan Lazanis

A well-designed website stands as a pivotal factor in converting visitors into invaluable leads. In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. Let’s go! Table of Contents The Do’s and Don’ts of Accounting Website Design The Top 43 Examples of Accounting Websites The Do’s and Dont’s of Accounting Website Design To give you an idea of

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Eide Bailly to merge in Raimondo Pettit

Accounting Today

The Top 20 Firm is adding three locations in Southern California with its latest deal.

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PwC Canada Totally Blew Their Perfect Score on PCAOB Inspections This Time Around

Going Concern

A few days ago the paper-pushers at the PCAOB released 15 new inspection reports and three expanded reports for the following firms: Inspection reports De Visser Gray LLP (Canada) Ernst & Young Limited Corp. (Panama) Frost, PLLC Harbourside CPA LLP (Canada) Keith K Zhen CPA Maggart & Associates, P.C Miller Wachman LLP PBMares, LLP PKF O’Connor Davies, LLP PricewaterhouseCoopers LLP (Canada) Rehmann Robson LLC Schneider Downs & Co., Inc UHY LLP Warren Averett, LLC Zwick CPA, PLL

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Sorry Folks, my bet didn't play out.

Insightful Accountant

Murph bet on Intuit releasing QuickBooks Desktop 2024 by Sept. 20th, and now he has 'egg on his face', not to mention a bunch of bookies to pay off, and apologies to you.

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2024 Payroll Calendar Templates

These calendars provide pay period dates and paydays for biweekly, semi-monthly, and monthly payroll in 2024. Use them as a reminder or share with employees so they can celebrate payday.

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FTX sues Bankman-Fried's parents to claw back funds

Accounting Today

The managers of the bankrupt crypto exchange sued the parents of its co-founder and former CEO to "recover. fraudulently transferred and misappropriated funds.

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Small Businesses Fear AI Development, Adoption Are Outpacing Regulation

Insightful Accountant

A recent Xero survey shows there is a call among small business owners for greater data protection and education, with 77% believing AI will have an impact on their business in the next five years

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CLA Expands in New York Via Acquisition

CPA Practice

Top 10 accounting firm CliftonLarsonAllen (CLA) has acquired Long Island-based accounting and business consulting firm Richards, Witt & Charles (RWC). Financial terms of the transaction, which went into effect on Sept. 18, were not disclosed. RWC’s office in Garden City, NY, will become CLA’s second location in the state. CLA also has an office in New York City.

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Future Forward 2023: Transforming Advisory with Real-time AI Insights

Insightful Accountant

RLJ Financial Services' Caleb Jenkins explains the power of real-time AI insights to preempt issues, spot trends and provide invaluable, forward-looking counsel. Make sure you sign up today.

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8 Signs Your Accounting Team Is Ready to Automate Month-End Close

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

How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.

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IRS Promises Fewer Audits of EITC Claims

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) IRS audits raise anxiety for many taxpayers. What can be even more frustrating is when those examinations seem unevenly targeted to taxpayers with lower incomes. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A study released earlier this year found that the IRS audits Black taxpayers at about three to five times higher rates than the agency audits other taxpayers.

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How a 1099 Physician Pays Taxes and How It Compares to W2

Anders CPA

Transitioning from filing taxes as an employed physician with a Form W2 to becoming a self-employed or contractor position with a Form 1099 comes with significant tax implications. While W2s are simpler and the employer, rather than the employee, is responsible for withholding federal and state income tax, payroll tax and any premiums for offered benefits, filing as a 1099 physician is considerably more complicated.

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Storm victims in three states face October deadline

Accounting Today

The IRS is reminding some disaster-impacted taxpayers in California, Alabama and Georgia that they have payments due Oct. 16.

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AI and job security: Will technology replace tax professionals?

ThomsonReuters

Jump to: Job security: AI is an enhancement, not a replacement Making AI work for you: Best practices for tax professionals A collaborative future with AI The dawn of artificial intelligence (AI) has sparked concerns across various industries about the potential replacement of human workers with machines. With the recent release of tools like ChatGPT , apprehensions about job security are growing among many professionals, including those in the tax and accounting space.

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DOL Final Overtime Rules: Quickstart Guide for Employers

On August 30, 2023, the DOL unveiled a proposed overtime rule that would raise the weekly salary threshold under the Federal Labor Standards Act. Paycor is closely monitoring the proposal and will provide updates as new information becomes available.

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Big boosts for energy-efficient homes in the IRA

Accounting Today

Tax credits for home improvements in the Inflation Reduction Act may prove a major boon for taxpayers.

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2023 state legislatures break even on efforts to tax sports wagering?

ThomsonReuters

With the recent start to the NFL season, sports wagering is a popular topic of conversation among football fans. It’s also been a popular topic of debate in state legislatures. Earlier this summer, Kentucky, North Carolina, and Vermont all enacted laws that legalize and tax sports wagering activities. Similar efforts in Texas, Missouri, and Georgia failed to garner enough support.

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Yellen is running out of time to make a difference on climate

Accounting Today

Anxiety is growing over the pace of work to develop critical guidance on a slew of clean energy tax credits in the Inflation Reduction Act.

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INCREASE CASH FLOW BY USING THESE TECHNIQUES

Basis 365

Your business will benefit from increased cash flow if you can get your customers to pay quickly. Many companies need help to get their customers to pay soon. The trend of delaying payments began long before the COVID-19 epidemic. A business can benefit from faster payments and collection in many ways. Some of these benefits include providing the company instant access to cash and higher levels of efficiency.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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What If: Payroll Can't Find Intuit Server?

Insightful Accountant

Did you know the security ID can change in a Company file when you restore a Company Backup file?

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LBMC names next CEO

Accounting Today

Jim Meade will succeed Jeff Drummonds at the Tennessee-based Top 100 Firm in 2024.

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Want more clients? A practical approach for accountants who don’t want to niche 19/9/23

Mark Lee

There is no doubt in my mind. The more focused you can be as regards your ideal clients the more chance there is that they will recognise you as an accountant they should approach. And, if you have a clear focus, the easier it will be for other people you know to recognise when they can recommend and refer you to people who need your services. But having a niche or specialist area is not the only route to success.

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Riches in Niches: Influencing influencers

Accounting Today

Nate Coughran of Cookie Finance helps social media stars navigate their finances.

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How Emotionally Intelligent Leaders Drive Business Results

Employees who feel listened to show a 64% longer commitment to tasks (Forbes). And that’s just for starters. Learn how emotionally intelligent leaders drive business results. Download Paycor’s guide for the full story.