TaxConnex

MAY 16, 2023

As you are likely aware, managing your sales and use tax obligations is not a small task. Ensuring you have the right people and processes in place is key to maintaining compliance and not putting yourself or your business at risk. Despite the risk, difficulties in hiring experienced accounting employees, lack of full knowledge of the rules and complexities and time constraints surrounding managing sales and use tax in-house, businesses continue to manage these obligations in-house.

Sales 130

Sales Tax cpa firm CPA 130

RogerRossmeisl

MAY 16, 2023

As appearing in IRS Tax Tip 2022-97 Many people take up gig work on a part-time or full-time basis, often through a digital platform like an app or website. Gig work, such driving a car for booked rides, selling goods online, renting out property, or providing other on-demand work, is taxable and must be reported as income on the worker’s tax return.

Tax 213

Tax tax return CPA 213

BurklandAssociates

MAY 16, 2023

While startups may not have the same level of resources as larger companies, they can still take advantage of best practices in HR to ensure their employees are engaged and Read More The post HR Tips for Startups appeared first on Burkland.

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CPA Practice

MAY 16, 2023

By Michael E. Kanell – The Atlanta Journal-Constitution (via TNS). Mary Woods has a career with erratic schedules and unpredictable paychecks, but she saved money and kept her credit score high so she could buy a house on her own. The purchase was a priority, said Woods, 43, a production worker in the film industry who has been in her DeKalb County, Georgia, home for nearly two years, glad for friendly neighbors, the options for walking her dogs and the proximity to urban amenities.

Real Estate 143

Real Estate Georgia Start-ups Tax 143

Advertiser: Paycor

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Insightful Accountant

MAY 16, 2023

Intuit began pushing out the R9_45 update to QuickBooks 2022 Desktop Products, including Enterprise 22.0 on May 11. You may have seen this update pending in QuickBooks 2022 software.

quickbooks 105

quickbooks 105

Cherry Bekaert

MAY 16, 2023

Using lessons learned and best practices from your ASC 842 and IFRS 16 adoption to transform your organization in three steps. Authors: Kenneth Woodring , Senior Manager, Risk & Accounting Advisory Services , Graham Michitsch , Senior Manager, Risk & Accounting Advisory Services Congratulations to successfully completing your implementation of ASC 842 and IFRS 16 – Leases.

Account 98

Account accountant accounted accounting and finance 98

Insightful Accountant

MAY 16, 2023

Intuit began pushing out the R9_45 update to QuickBooks 2022 Desktop Products, including Enterprise 22.0 on May 11. You may have seen this update pending in QuickBooks 2022 software.

quickbooks 98

quickbooks 98

CPA Practice

MAY 16, 2023

The IRS is planning to roll out its own free online tax-filing system in a move that could put the agency in direct competition with online tax preparation behemoths like Turbo Tax and H&R Block. In a report the agency submitted to Congress on Tuesday, as required by the Inflation Reduction Act, the IRS said it evaluated the feasibility of providing taxpayers with the option of a free, voluntary, IRS-run electronic filing system, which is being called “Direct File.

tax preparation 98

tax preparation Tax Washington Technology 98

Cherry Bekaert

MAY 16, 2023

Architectural & Engineering (A&E) firms that propose or work on government contracts may be required to provide overhead rates prepared in accordance with the Federal Acquisition Regulation (FAR). Many government agencies require that A&E firms have their overhead rates audited. In this episode of Cherry Bekaert’s Professional Service Podcast, Brynn McNeil , an Audit Partner in the Firm’s Professional Services Industry practice, welcomes Mandy Grivnovics , an Audit Senior Manager

audit 94

audit Transportation Government 94

Going Concern

MAY 16, 2023

Staci Zaretsky wrote about deferred Biglaw start dates on Above the Law today and while law ≠ accounting, the sausage factory of the Professional Services Industrial Complex is pretty much the same thing. Let me add, we’re beginning to see delayed start dates in our little corner of the billable hour universe so this might have some relevance.

Non-Profits 83

Non-Profits public accounting Start-ups CPA 83

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.

Cherry Bekaert

MAY 16, 2023

Contributors: John Ford | Senior Consultant, Government Contracting Industry Practice Tony Konkol | Manager, State & Local Tax Practice As a general rule, corporations are responsible for paying Federal and state taxes on the income they earn. This is not necessarily the case for smaller entities that qualify for special treatment under the Federal Internal Revenue Code for S corporations.

income tax 88

income tax Tax tax return Connecticut 88

AccountingDepartment

MAY 16, 2023

Experienced business leaders know that accurately predicting future financial outcomes is a highly complex challenge. It’s a process not to be left only to logic that is based on reviews of combined financial reports from the past.

NetSuite 78

NetSuite Technology Account accountant 78

SkagitCountyTaxServices

MAY 16, 2023

We’ve been watching the unfolding banking “crisis” closely and evaluating what it means for our economy moving forward. Yes, seeing (numerous) banks fail can be unnerving, especially when the economy seems to also be careening toward a recession. The media, of course, is aware of this feeling of unsettledness and is financially motivated to make the most of it.

CPA 78

CPA Legal Government Start-ups 78

Insightful Accountant

MAY 16, 2023

QuickBooks and Mailchimp celebrate small business heroes delivering big impact in their communities.

quickbooks 98

quickbooks 98

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

Technology

Mark Lee

MAY 16, 2023

One of the topics that often comes up is the challenge of prioritising anything (non-billable) you might think you want to do when there is client work that could be done. Certainly, some of the accountants I work with tell me that they struggle to make time to prioritise developing, building and promoting their practice. One reason for this is that some business related plans seem to require big and continuous amounts of time which are hard to schedule.

Account 87

Account accountant accounted bookkeeping 87

Accounting Insight

MAY 16, 2023

There are signs of confidence returning to the UK’s 5.5m small and medium-sized businesses and the lending market they rely on, iwoca’s latest SME Expert Index finds. The new research, carried out with over one hundred SME finance brokers who collectively submitted over 2,500 SME finance applications in March, reveals that worries about a recession are at their lowest level in a year.

accounting and finance 59

accounting and finance Finance corporation tax Tax 59

xendoo

MAY 16, 2023

Most small businesses have a low probability of going through an IRS audit, but it’s possible. What happens if you get audited and don’t have receipts to back your expenses? It’s a common question and concern for many business owners. The best way to avoid headaches during an IRS audit is to keep accurate business records and bookkeeping year-round , and that includes tracking receipts.

audit 52

audit bookkeeping tax return cpas 52

Accounting Insight

MAY 16, 2023

ACCA’s UK Talent Trends in Finance 2023 uncovers the key issues facing the sector, including concerns over inflation, burnout and technology A significant research report, UK Talent Trends in Finance 2023, published today lifts the lid on the world of work and how it impacts employees and employers. One of the most startling findings is how finance professionals have embraced flexible working methods post-pandemic – and the beneficial impact on the workforce.

Finance 59

Finance accounting and finance Technology Account 59

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Technology

CPA Practice

MAY 16, 2023

Adam Bell The Charlotte Observer (TNS) Wells Fargo is settling a class-action lawsuit from shareholders for $1 billion over claims the bank misled them about how it was complying with regulators in the aftermath of its fake sales scandal , new court records show. The federal suit claimed the bank made “materially false and misleading statements” about its compliance with consent orders it had with federal regulators over previous practices.

Rhode Island 52

Rhode Island North Carolina New York Sales 52

Going Concern

MAY 16, 2023

Once again, in what can only be described as an attempt to market its tax platform, Bloomberg has released its annual awards for the Bloomberg Tax Authors of the Year. We’ll just mention the Federal authors of the year here, but there are also three other categories of Bloomberg author awards: State Tax, International Tax, and Estates, Gifts, and Trusts.

Tax 52

Tax Washington audit tax planning 52

CPA Practice

MAY 16, 2023

Retail sales bounced back in April, showing both month-over-month and year-over-year growth, the National Retail Federation said today. “Retail sales rebounded in April, reflecting consumer resilience in the face of elevated economic uncertainty,” NRF President and CEO Matthew Shay said. “Moderating price levels, continued labor market strength and wage gains have increased consumers’ ability to spend.

Sales 52

Sales Retail Sports 52

inDinero Accounting

MAY 16, 2023

What does VC mean? In short, VC stands for venture capital, a type of financing where investors purchase ownership stakes in high-risk, high-reward companies. The truth is, most startups don’t need to think about venture capital. This sort of funding is the exception rather than the norm, with fewer than 1% of companies raising VC dollars. That’s because VC firms are interested in business ideas capable of creating or disrupting entire ecosystems, businesses like Uber or Airbnb.

Technology 52

Technology accounting and finance Agriculture Finance 52

Advertiser: Paycor

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Basis 365

MAY 16, 2023

Negative cash flow is a common challenge that many businesses face, especially in their early stages of operation. When a company's expenses exceed its revenues, it creates a cash shortfall that can negatively impact its financial stability and ability to meet financial obligations. This article explores the problem of negative cash flow and how outsourcing accounting services can help mitigate the challenge.

Account 52

Account accountant accounted Technology 52

Anders CPA

MAY 16, 2023

In previous blog posts, we discussed the concept of “missing” participants in a 401(k) Plan. These are participants that have assets in your Plan, but they have terminated employment with your company. If these individuals don’t move the money out of your Plan into either another Plan, an Individual Retirement Account (IRA) or take the funds as a cash withdrawal, you may lose touch with them over time.

audit 52

audit CPA Account accountant 52

xendoo

MAY 16, 2023

Most small businesses have a low probability of going through an IRS audit, but it’s possible. What happens if you get audited and don’t have receipts to back your expenses? It’s a common question and concern for many business owners. The best way to avoid headaches during an IRS audit is to keep accurate business records and bookkeeping year-round , and that includes tracking receipts.

audit 52

audit bookkeeping tax return cpas 52

FraudFiles

MAY 16, 2023

Despite all the warnings about tax scams, consumers are still falling victim to these types of fraud. Tracy Coenen talks on CNBC about the top five tax scams that consumers should be aware of. This episode is from 2008, but consumers are STILL falling victim to the same scams!!!

Tax 52

Tax 52

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Finance

Insightful Accountant

MAY 16, 2023

If you answered 'yes,' now is the time to be thinking about it, even before the 2023 Top 100 names are announced.

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CPA Practice

MAY 16, 2023

If you’re cleaning out your closet, you may come across clothing in perfectly good shape that you don’t wear any longer or have never worn. You can donate this clothing to charity and claim a deduction on your personal return if you itemize. However, as shown in a new case, Bass, TC Memo 2023-41, 3/27/23 , you must obtain an independent appraisal if the total value of your gifts exceeds an annual threshold.

North Carolina 122

North Carolina tax return Tax income tax 122

xendoo

MAY 16, 2023

There’s a lot to keep track of when you run a business. Many business owners look at their calendars halfway through April and realize that they missed their tax deadline. If this happened to you, it’s not too late to take action. You might be wondering: What happens if you miss the tax deadline? In this article, we’ll go over everything you need to know about late tax filings and payments and provide an action plan to get you back on track.

Tax 52

Tax tax return bookkeeping cpas 52

CPA Practice

MAY 16, 2023

May 2023 It’s hard to believe that this year is almost halfway gone, and some of our most important projects for helping our team and improving the tools we use are just now getting started. Technology tools for your firm’s stack continue to improve and innovate. But how do you determine what is fact and what is hype? Please check out our podcast coverage of tools at The Technology Lab.

Technology 52

Technology accounting firms audit payroll 52

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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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