Wed.Jun 15, 2022

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Do You Need an LLC For Shopify?

Snyder

If you’re an ecommerce business owner, you must have heard about LLCs, and you might be confused about whether you need one for your Shopify store. Well, you’re in the right place–in this article, we’ll discuss in detail what an LLC is and whether you need one for Shopify. What Is an LLC? An LLC is a limited liability company. It’s a business structure that can provide personal liability protection to its owners, and LLCs are popular among small business owners because they off

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Nexus and MSPs: Navigating interstate commerce - Modern MSP

Accountant Advocate Submitted Articles

MSPs & IT services are Nexus audit targets. Modern MSP finance expert explains interstate taxes and preparing your MSP for audits. Read how.

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Inflation, Recession and the Stock Market

Withum

Right now, inflation seems to be unchecked and has caught the Federal Reserve, economists and many others off guard. There is also talk of an impending recession as the “cure” for inflation. I will not add to either discussion but want to provide some comments. The economy is complicated with many moving parts. We look at a falling stock market and think that is the “economy.

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Why is the Accounting Profession Scaring Everyone Away?

Going Concern

Saw this on our Twitter timeline, thought I’d throw it to the sharks and see if anyone has some thoughts: Accounting industry. We all agree there numerous issues & major changes are needed. The ultimate question is even with all the issues, why are ppl not willing to overcome all of them & either enter or stay in the profession? Its about the industry as a whole.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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How to keep up with tax law changes

ThomsonReuters

The foundation of a successful tax practice rests on the technical knowledge of your people. While you can create a modern firm with automated processes and expansive service offerings, your clients won’t keep coming back if your team isn’t up to speed with the most recent tax law changes. But of course, staying informed is easier said than done.

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App partner of the month: EzzyBills

Xero

Xero connects with over 1,000 apps that help small businesses and their advisors succeed, with most available in the Xero App Store. Each month we celebrate an app partner who stands out for helping small businesses thrive. Find out more about becoming a Xero app partner here. I’m excited to introduce June’s app partner of the month, EzzyBills – a smart, simple data processing and approvals tool for small businesses and their advisors.

More Trending

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Alleviating Cash Flow Management Pains for Skagit County Businesses

SkagitCountyTaxServices

[1] Because we’re talking cash flow management today… with a recession looming on the horizon and the effects of inflation being felt so hard in everyday life, it’s difficult not to freak out over what lies ahead for your Skagit County small business. But, some think a recession might not be all that bad for small businesses… even helpful. While that remains to be seen, one thing I can say is, don’t panic.

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How to Successfully Pivot to a New Business Venture

GrowthForceBlog

8 min read. You've likely heard the phrase, "No man is an island." In much the same way, no business is an island, either. In other words, businesses exist in communities, in marketplaces, and within the greater economy, and all of these elements are constantly in flux. This is true for startups and well-established companies.

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The Big Reveal: Soulteria’s New Digs, Courtesy of Xero’s Beautiful Business Contest

Xero

Earlier this year, we announced our Xero Beautiful Business contest , which gave U.S. small business owners the chance to win a $15,000 office refresh by celebrated stylist and interior designer, Estee Stanley. Entrants were asked to submit photos and/or videos of their office, along with a description of why their workspace deserved a makeover. We are excited to share that the office makeover is finally complete!

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Hybrid Work Only Makes It More Obvious How Much Going to the Office Sucks

Going Concern

While there are small pockets of American white collar workers who would welcome a respite from screaming kids and incontinent dogs at home (shout-out to a certain Going Concern team member always regaling us with shitty stories on Zoom calls), a good majority of people have realized that skipping the commute and making your own lunch while working from home is far superior to the pre-Covid office grind.

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Planning Your Restaurant's Path to Profitability

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.

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How You Can Help LGBTQIA+ E-commerce Businesses

Snyder

You can find a lot of articles about what the LGBTQIA+ community can do to thrive in this big world of small businesses. But let’s turn the table this time and look at what others can do to show their support for the LGBTQIA+ community. Here are 5 simple things that can have a huge impact. How to be an LGBTQIA+ ally. 1. Educate yourself and others. Here are some points to keep in mind: Understand equality.

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ReMarkable 2 – Paper… But Better

Intuitive Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp explains how the next generation paper tablet changed her life and her business—and why it just might change yours, too.

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What are the tax considerations when managing cross-border payments?

Menzies

Menzies LLP - A leading chartered accountancy firm. As a consequence of more businesses trading internationally, there are an ever-growing array of cross-border transactions. These range from selling products and services to global customers, to interacting with overseas group companies. Despite this growth in conducting cross-border transactions, the tax implications of such arrangements are all too often overlooked.

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How to Win More Clients by Speaking Their Language

Summit CPA

As accountants, we use a lot of technical terms; however, it’s important to relate to your audience and current and potential clients in a way that builds goodwill and trust—and not get hung up on technical language. Doing so in these three areas—public speaking, sales meetings, and enriching client relationships—helps build a solid foundation for growing your business.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Brothers

Dent Moses

Most of you will wonder why we thought this article would be helpful. You already understand the concepts that are to be presented but trust us and read to the end. Imagine twin brothers. The first brother graduates from high school and goes to work as a plumber at age 18. If you have any plumbing work done, you will know the kid is fairly smart. He immediately starts funding his Roth IRA with $6000 per year.

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On-Demand Webinar: Global Summit 2022 Keynote

Withum

On the final stop for our virtual Global Summit Series, Withum’s International Team proudly presents Dr. Kevin Lyons, Supply Chain Management Department and Director, Public Private Community Partnerships of Rutgers Business School, on a deep dive into how climate change will affect culture and global supply chains. Listen in as Dr. Kevin Lyons provides insight into how the global community can start to think about what we can do together to minimize the impacts of climate change on our cu

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Failure to prepare for change will see accountants lose more than just sleep

Accounting Insight

New IRIS Software Group report finds sluggish technology adoption is hampering growth . . Only one in ten accountants are confident they can ensure their business grows its value over the next five years, according to new research from IRIS Software Group. . . This comes as legislative burden including Making Tax Digital (MTD) tops the list of things giving accountants sleepless nights, with more than two in five (over 40%) rating it number one.

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On-Demand Webinar: Public Law 86-272 – The Past, Present, and Future

Withum

This on-demand webinar will explore Public Law 86-272 from 1959 to present. Public Law 86-272 was enacted in 1959 to protect taxpayers from state income taxes when their sole activity in the state is limited to the solicitation and sale of tangible personal property. State tax authorities have been contesting this federal law ever since passage. Due to the rise of the digital economy, taxpayer protection under P.L. 86-272 has been steadily eroding.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Expert Witness Rebuttal Reports

FraudFiles

My favorite part of being a forensic accountant is rebuttal reports. An attorney comes to me with an expert report filed by the other side, which details some sort of economic loss. My job is to analyze that report and poke holes in it. The things I will potentially criticize might include: The numbers are wrong – mistakes were made in the calculations, wrong numbers were used, transactions were skipped or incorrect, etc.

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Planning for New York City’s Carbon Tax: Local Law 97 Explained

Withum

Beginning in 2024, New York City (NYC) real estate will be subject to a fine (“carbon tax”) known as Local Law 97. Like all taxes, proper planning can save affected individuals a significant amount of money. . In 2019, the NYC Climate Mobilization Act (The Act) was passed by the New York City Council. The Act includes Local Law 97, which sets carbon (CO2e) reduction targets of 40% by 2030, and 80% by 2050, for NYC real estate.

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Office Makeover Winner Shows Off Spoils

Intuitive Accountant

After winning the ‘Xero Beautiful Business Contest,’ Soulteria's Alissa Millett debuts inspirational, yet functional home workspace for her growing small business.

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Something You Need – EQ

RitaKeller

“Common sense is not so common.” – Voltaire. You have been reading about it for many years now. Are you getting better at it? I am talking about Emotional Intelligence (EQ). Some have said that accountants often do not have a high level of EQ while they do rank highly when it comes to IQ. The following is a brief excerpt from a blog post via Payroll Vault.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Inventory & ERP Sponsors at Scaling New Heights (Part 2)

Intuitive Accountant

There is even more to see in the way of Inventory and ERP sponsors while attending 'Scaling New Heights.' Murph takes a look.

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Business leaders think they’re more trusted than they really are

Accounting Today

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APPS Directory Spotlight — Shogo

Intuitive Accountant

Here’s how you can seamlessly—and automatically—move sales data from your Point of Sale or eCommerce Solution to your accounting system in the cloud.

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Lawmaker introduces bill to tax assault weapons 1,000%

Accounting Today

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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Niche App Sponsors at Scaling New Heights (Part 1)

Intuitive Accountant

Murph examines some of the sponsors bringing you Niche Apps to the exhibit hall floor at this year's 'Scaling New Heights.

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Tech and automaton innovation in tax and accounting

Accounting Today

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A Smarter Data-Driven Approach to ESG Implementation & Reporting

Acterys

Globally, many organizations have started paying more attention to tracking their Environmental, Social, and Governance (ESG) impact due to its increasing importance among customers, investors, and other stakeholders. This rising interest in ESG is supported by statistics as well. According to a report on consumer and employee ESG expectations by PwC, 83% of consumers think organizations should work on implementing ESG best practices.

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McDonald’s settles twin French tax probes

Accounting Today

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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.