Accounting in an age of uncertainty
Accounting Today
MAY 16, 2022
Mon.May 16, 2022
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Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits
RogerRossmeisl
MAY 16, 2022
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS.
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The Tax Break Commercial Real Estate Investors Might Need After COVID-19
Withum
MAY 16, 2022
The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. The decrease in value of commercial property has forced many owners to restructure their debt. However, the resulting forgiveness of a portion of the debt does not automatically result in federal taxable income.
Do Valuation Discounts Apply to Compulsory Shareholder Buyouts?
RogerRossmeisl
MAY 16, 2022
Valuation discounts for lack of control and marketability are major points of contention when companies or controlling shareholders are required to buy out shareholders who own minority interests. What’s appropriate depends on the facts of the case — and there’s an important distinction between statutory and contractual buyouts. Statutory buyouts In many jurisdictions, minority shareholders who are oppressed by controlling shareholders or who dissent to major business decisions are entitled to r
Your Accounting Expertise Will Only Get You So Far: The New Way To Lead
Speaker: Victor C. Barnes, CPA, MBA
How To Manage 6 Risks Affecting Cybersecurity for Law Firms
Withum
MAY 16, 2022
Cybercriminals are increasingly targeting law firms; extortion is quickly realized, given the nature of highly confidential client data. The digital footprint of law firms is constantly expanding, leading to more entrances to a firm’s network infrastructure, which is a direct gateway to data. This expansion, combined with insider risks (a firm’s own staff), makes having risk-control protocols of paramount importance.
The Ins and Outs of IRAs
RogerRossmeisl
MAY 16, 2022
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an annual deductible contribution to a traditional IRA if: You (and your spouse) aren’t active participants in employer-sponsored retirement plans, or You (or your spouse) are active participants in an employer plan, and your modified adjusted
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Fully Deduct Business Meals This Year
RogerRossmeisl
MAY 16, 2022
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021). So, you can take a customer out for a business meal or order take-out for your team and temporarily write off the entire cost — including the tip, sales tax and any delivery charges.
5 Ways to Foil a “Fraud Department” Scam
RogerRossmeisl
MAY 16, 2022
When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to preventing fraud, especially in the case of wire and automated clearing house transactions. In most cases, if a caller claims to work for the fraud department of your or your business’s bank, the call is likely legitimate.
The Frontier: Train accountants on tech, or technologists in accounting?
Accounting Today
MAY 16, 2022
The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It
Speaker: Kim Beynon, CPA, CGMA, PMP
A short guide to Making Tax Digital for hospitality
Xero
MAY 16, 2022
The hospitality industry is no stranger to new challenges. From pandemic restrictions to Making Tax Digital (MTD), hospitality businesses have had to stay agile and adapt to many changes in the past few years. In this guide, we’ll look at what the government’s Making Tax Digital initiative means for your hospitality business in practical terms. We’ll also explore how the additional benefits of digitisation and cloud-based accounting software can help you run a healthier business.
How Candice Brown tackled Making Tax Digital and kept her pub pouring through the pandemic
Xero
MAY 16, 2022
It’s hard to overstate how damaging the global pandemic was for local pubs. Many of these businesses are institutions – not simply a place to get a cold pint, but a home away from home, with friendly staff, possibly a sleepy dog and, if you’re lucky, a roaring fire. . Yet, forced to shut their doors as the pandemic ripped through our lives, many struggled to cope with the restrictions that kept customers away.
Why is it so important to make your business a great place to work?
Reckon
MAY 16, 2022
Jessica Morris, Reckon’s head of HR, chats to us about the continued importance of maintaining a rewarding workplace and rich culture. With COVID-19 radically altering the business landscape, shifting the way you cultivate a great place to work is of the utmost importance. Why is the Great Place To Work (GPTW) initiative so important? Having a GPTW is so important because we want to create a unique and great working environment for everyone as we spend a lot of our week here.
Everything you need to know about digital links for Making Tax Digital
Xero
MAY 16, 2022
As a small business owner getting to grips with what’s needed to comply with Making Tax Digital (MTD) for VAT, you’d be forgiven for feeling a little overwhelmed by the number of actions and items you’ve likely never encountered before. From bridging software to HMRC-compliant solutions , you may still be playing catch up. Now, we turn to digital links , which have been mandatory for MTD for VAT compliance since April 2021 and play a vital role in connecting software packages and submitting MTD-
8 Pillars of Leadership Development
Advertiser: Paycor
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.
Come See Us at AICPA Engage 2022! | Canopy
Canopy Accounting
MAY 16, 2022
After more than one year of staying indoors and working remotely, Canopy is excited to get back out there and attend our first in-person trade show in over a year: the American Institute of Certified Public Accountants (AICPA) Engage 2022, which runs from June 6-9 in Las Vegas, Nevada with a virtual option as well. We want to meet all of you, so be sure to stop by booth #1039 and say hi—you might even get some cool swag!
6 Things You Absolutely Must Include in Your Hybrid Work Policy
Patriot Software
MAY 16, 2022
Thanks to the pandemic, there’s a new sheriff in town: Hybrid workplaces. In fact, 74% of companies in the U.S. are using or plan to implement a permanent hybrid work model. If your company plans to be part of this statistic, you need to know what to include in a hybrid work policy to keep […] READ MORE.
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.
Horse Racing On My Mind
RitaKeller
MAY 16, 2022
“Remember that the most valuable antiques are dear old friends.” – H. Jackson Brown, Jr. I was fortunate late last week. I had the opportunity to visit Claiborne Farm i n Bourbon County, Kentucky not far from Lexington, KY. Since the Kentucky Derby was still fresh in my mind, I was pleased that two very dear friends arranged the visit.
Mismatch between GSTR 1 and GSTR 3B? Rectify as early as possible
VJM Global
MAY 16, 2022
With effect from January 01, 2022 mismatches between GSTR 1 and GSTR 3B can have an impact on your working capital. GST officers can initiate various measures such as withholding your GST refunds, reaching out to your debtors to pay them instead of paying you, etc. to try and recover the tax liability to the extent of mismatch or short payment of tax as per your returns.
Five Reasons CPAs Should Use Tested Software Solutions for Creating Clients’ Financials
LSLCPAs
MAY 16, 2022
Executive Summary Many CPA firms prefer to use their own proprietary formats for their clients’ financials. It’s a form of branding. Sometimes, a single accountant will favor his or her financial report layout over the one used in the office next door. That’s also a kind of branding, and while one format might be more. The post Five Reasons CPAs Should Use Tested Software Solutions for Creating Clients’ Financials appeared first on LSL CPAs.
Win Your Play With Chris Wilson of Taylor English
Withum
MAY 16, 2022
Explore Other Episodes. The post Win Your Play With Chris Wilson of Taylor English appeared first on Withum.
How to Set Better OKRs and Drive Results
Advertiser: Paycor
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.
Top 100 ProAdvisor Lauretta Finis on Changing with the Changes
Intuitive Accountant
MAY 16, 2022
There is no question that the last 18-plus months have challenged each of us. To see how some of the industry’s leaders did it, here’s another in our series on what Top 100 ProAdvisors did to weather the storm.
Win Your Play
Withum
MAY 16, 2022
Explore Other Episodes. The post Win Your Play appeared first on Withum.
Payroll Sponsors at Scaling New Heights 2022 (Part 2)
Intuitive Accountant
MAY 16, 2022
Murph presents another group of payroll apps that are making an appearance at 'Scaling New Heights 2022' next month.
Former Deloitte CEO Is a Big Fan of ‘Smors’
Going Concern
MAY 16, 2022
Cathy Engelbert. No, Cathy Engelbert isn’t talking about the delicious summertime treat. She’s talking about “small moments of recovery.”. “I learned this at Deloitte because when you’re running a firm of that size, you have to find time. We dubbed them smors. My EA used to put them on my calendar: Small moments of recovery. You need moments during the day.
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.
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