Withum
JANUARY 12, 2023
How do you know when your company has grown beyond QuickBooks’ capabilities? Let’s cover the key areas that will help you make an educated decision on when QuickBooks is too small for your growing organization. QuickBooks is one of the world’s most well-known and widely used accounting software solutions that can help turn a simple idea into a full-grown company.
RogerRossmeisl
JANUARY 12, 2023
On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). This means that individuals and households that reside or have a business in Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Men
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TaxConnex
JANUARY 12, 2023
Studies show that some 1.4 million people in the Commonwealth of Puerto Rico (more than a third of population) do their shopping online, with annual online purchases in the U.S. territory now at $458 million. The size of the average online transaction in Puerto Rico has almost tripled in the past six years. It’s a fair bet, then, that sooner or later you’re going to be selling online into Puerto Rico, which has a sales tax.
CPA Practice
JANUARY 12, 2023
The 2023 tax-filing season will open on Jan. 23—the day in which the IRS will begin accepting and processing 2022 tax year returns, the agency said on Thursday. The IRS said it is expecting more than 168 million individual tax returns to be filed this year, with the majority of those returns coming before the April 18 tax deadline. Taxpayers have three extra days to file in 2023 due to the calendar.
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Withum
JANUARY 12, 2023
The IRS announced comprehensive tax relief provisions for taxpayers affected by California’s winter storms. These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. Relief provisions include: Quarterly estimated tax payments due on January 17, 2023 and April 18, 2023; Business tax returns due March 15, 2023 and April 18, 2023; Personal income tax returns due April 18, 2023; Payroll tax returns due January 31, 2023 and April 30, 2023.
CPA Practice
JANUARY 12, 2023
The AICPA said on Thursday that it was not the victim of a cyberattack, days after an article surfaced online stating that threat actors had bragged on an online forum that they compromised an AICPA database with more than 140,000 emails and corresponding passwords. The website Cybernews wrote on Tuesday that cyberthieves had attached samples of the data on the online forum as proof of legitimacy.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Insightful Accountant
JANUARY 12, 2023
Are you thinking, 'There must be one solution that can be configured to fit all your needs?' You might be right, and the New Year might be the perfect time to switch.
ThomsonReuters
JANUARY 12, 2023
Use of an Electronic Medium to Make Participant Elections and Spousal Consents, Prop. Treas. Reg. Sec. 1.401(a)-21, 87 Fed. Reg. 80501 (Dec. 30, 2022). Available at [link]. The IRS has released proposed regulations that would permanently allow remote witnessing of certain retirement plan and benefit elections, including those involving spousal consent, that are required under the Code to be witnessed by a plan representative or notary public.
Going Concern
JANUARY 12, 2023
Moss Adams admitted 36 lucky boys and girls into the partnership last week, topping last year ’s new partner class of 34 and more than double the class of 2021. “Our newest group of admitted partners exemplifies our focus on providing holistic services that help our clients succeed,” said Eric Miles, CEO and chairman for Moss Adams. “I’m proud to have this group join our partnership.”.
AccountingDepartment
JANUARY 12, 2023
With a small to medium-sized business, everything has an impact on cash flow, and cash flow is one of the most crucial metrics for business owners to monitor. As cash flow issues occur within a business, decisions are made based on inaccurate data and it will ultimately hurt a company in the long run.
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.
Insightful Accountant
JANUARY 12, 2023
NetSuite helps SailGP manage its financial operations and make strategic business decisions as it expands.
Going Concern
JANUARY 12, 2023
Who penetrates networks in the dark with a hood over their head? Silly. h/t @cbriancpa for tweeting this story out. Hackers are claiming they gained access to a database with more than 140,000 emails and passwords from the AICPA according to Cybernews , the only outlet reporting on this as yet. We have reached out to the AICPA to confirm. Attackers announced the breach on a popular hacking forum, saying they have a database with over 140k user data.
CPA Practice
JANUARY 12, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review Bill , a cloud-based, automated bill management and payment system for firms and businesses. Use the player below to listen to the podcast.
Withum
JANUARY 12, 2023
I find the following information interesting and informative and put them in charts for easy viewing. The charts start with 1990 and go through the end of 2022. The chart with the annual sales growth starts in 2001. I prepared the charts, but the underlying data came from Multpl , which has a ton of additional information and statistics, and I recommend checking it out.
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
ThomsonReuters
JANUARY 12, 2023
The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . In addition to helping businesses and individuals follow the required accounting standards and tax laws, accountants are increasingly capitalizing on new ways to utilize their knowledge and experience to make a positive impact on the clients they serve. .
Going Concern
JANUARY 12, 2023
Although EY’s 13,000 partners have yet to vote on the audit/consulting split, the firm continues to march ever onward toward separation, announcing in December that Global Chairman and CEO Carmine Di Sibio would head up consulting and US chair Julie Boland will oversee audit. And a few days ago Financial Times reported that EY has set aside $2.5 billion for a freshly-liberated consulting business to go on an “acquisition spree” that has up until now been prevented by conflicts
Patriot Software
JANUARY 12, 2023
The accounting world may seem filled with hard facts. Either the money is in the account, will be in the account, or it isn’t … right? Well, that’s not always the case. There are some situations when it’s difficult to know exactly how much money you need to account for. For example, accounting for the […] Read More.
ThomsonReuters
JANUARY 12, 2023
Historically, auditors spent weeks out in the field holed up at the headquarters of the company undergoing an audit. However, sparked by the onset of the COVID-19 pandemic, which forced many companies to go remote essentially overnight, a growing number of firms are opting to remain remote , or at least hybrid. . Thanks to advancements in technology — such as cloud-based solutions, teleconferencing, data-sharing platforms, and drones with cameras — remote audits are possible as long as the righ
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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.
LSLCPAs
JANUARY 12, 2023
The IRS announced on Tuesday, January 11, 2023 that for a number of counties in California, they have extended the upcoming tax deadline to May 15, 2023. Within the notice the IRS stated: Victims of severe winter storms, flooding, and mudslides in California beginning January 8, 2023, now have until May 15, 2023, to file. The post IRS Extends April 18 Tax Deadline to May 15 for California Storm Victims appeared first on LSL CPAs.
ThomsonReuters
JANUARY 12, 2023
If you work in the professional services sector, you’re well aware of the rise of automation. For those of us in the tax and accounting profession, we’ve witnessed the amazing time savings and efficiency automation can bring—and audit is no exception. . Not so long ago, auditing in accounting meant spending long hours manually entering taxpayer data, sifting through loads of paperwork, and scrutinizing spreadsheets line-by-line.
Insightful Accountant
JANUARY 12, 2023
Data security is a top priority for tax and accounting firms. Join Wes Stillman, Chief Innovation Officer of Visory, to learn how you can protect your firm from the ever growing cyber threats.
ThomsonReuters
JANUARY 12, 2023
When it comes to cryptocurrency, there are many unknowns around accounting, audit and assurance. With a lack of universal guidance, crypto assets can easily be over or understated, making risks much higher. Adding to the complexity is the fact that most taxpayers are unaware of the potential tax consequences of crypto. . With more than 50 million taxpayers answering ‘Yes’ to the IRS Virtual Currency question on the front page of the 1040 form on their 2021 tax returns, there is a pressing need
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Insightful Accountant
JANUARY 12, 2023
ADP's Ellen Feeney and Helena Almeida discuss how transparency in the workplace can be powerful and strategic for both employees and employers. Sign up for the webinar here.
ThomsonReuters
JANUARY 12, 2023
Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. One of these specialties is ESG audits. . What is ESG? Environment, Social and Governance (ESG) is a framework for evaluating risks and opportunities related to a company’s operational impact on the environmental, social issues, and governance factors. .
ThomsonReuters
JANUARY 12, 2023
QUESTION: Can our ERISA employee benefit plans impose a deadline for participants or beneficiaries to file a lawsuit if they wish to challenge a final administrative determination under our plans’ claims procedures? ANSWER: Yes, plans can impose a deadline for filing lawsuits, if certain conditions are met. As background, essentially all legal claims must be filed within a certain period of time, referred to as a limitations period or, when established by law, a statute of limitations.
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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.
Insightful Accountant
JANUARY 12, 2023
See how Docyt provides accounting, automation and various back office workflows for today's small- and mid-size businesses.
Insightful Accountant
JANUARY 12, 2023
Check out more about the easy to use analysis, reporting and forecasting solution for today's accounting professionals.
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"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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