Tue.Aug 09, 2022

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5 Reasons to Consider Outsourcing Your Accounting

AccountingDepartment

As a company grows and evolves, business leaders and key personnel may spend more and more time devoted to bookkeeping and accounting activities than they would prefer. Some small business owners spend more than half their time managing the company's finances.

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5 Ways to Stop Employees from Colluding in Fraud

RogerRossmeisl

What happens if two or more individuals in your organization collude to commit fraud? According to the Association of Certified Fraud Examiners’ (ACFE’s) 2022 Report to the Nations, fraud losses rise precipitously. The median loss for a scheme involving just one perpetrator is $57,000, but when two or more perpetrators are involved, the median loss skyrockets to $145,000.

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Everyone Knows 11-Year-Olds Can’t Wait to Work at Deloitte

Going Concern

Why do people post this crap on LinkedIn. via r/accounting. Thanks for doing your part to feed the pipeline, ma’am. The post Everyone Knows 11-Year-Olds Can’t Wait to Work at Deloitte appeared first on Going Concern.

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A Candid Talk with Ford CEO Jim Farley on Ford’s EV Future

RogerRossmeisl

As posted to the Munro Live YouTube Channel on 8/1/2022 (Run Time 49 min, 46 sec) Ford CEO Jim Farley, Linda Zhang (F-150 Chief Nameplate Engineer), and Doug Field (Chief Officer of EVs and Digital Systems) deliver Munro & Associates a Ford F-150 Lightning and sit down for a down-to-earth interview with Sandy Munro to discuss, among other things, urgent changes necessary to avoid a financial calamity in the transition to EVs.

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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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Take Advantage of Increased Estate Tax Exemption and Gift Tax Exclusions in 2022

Anders CPA

Annual gifting is a valuable part of most estate plans. With increased gift and estate tax exclusions in 2022, now is a great time to review your estate plan to make sure you’re taking advantage of ways to lower your taxable estate. Below we cover the details of the current gift tax exclusions, increased exemptions for 2022, the limited application of anti-clawback rules and why you should consider gifting now.

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Valuators Know How to Evaluate Compensation Levels

RogerRossmeisl

Reasonable (or replacement) owners’ compensation can be a hot button during IRS audits, divorces, shareholder disputes and other litigation matters involving the value of a private business. What’s appropriate depends on the facts and circumstances. Applying federal tax guidance The IRS is on the lookout for C corporations that pay employee/shareholders excessive salaries in place of dividends.

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Do You Need to Outsource Your Accounts Payable?

Basis 365

A provider that offers Accounts Payable automation could be the difference between success or failure when your company decides to outsource. Although outsourcing payables may not be for everyone, it is something that you should consider. Accounts Payable - A Quick Overview In a nutshell, accounts payable refers to money owed to vendors or suppliers.

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Superfund Chemical Excise Tax FAQ: What companies need to know

ThomsonReuters

Effective July 1, 2022, as required by the Infrastructure Investment and Jobs Act (IIJA) passed last November, the Internal Revenue Service (IRS) has reinstated the Superfund Chemical Excise Tax on a wide range of chemicals and substances. These taxes have not been in effect since 1995, so over the past 27 years are now scrambling to understand the complexities and requirements of this new iteration of the law.

Tax 97
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Hoping Everyone Has Forgotten About All the Scandals, KPMG UK Is Bidding for Government Contracts Again

Going Concern

Late last year KPMG UK decided to stop bidding for government contracts for a bit while they worked out some scandals, p**s poor audit quality, and client collapses. Well, it wasn’t so much that they decided but rather that the government threatened them and told them to get their s**t together or they’d be banned from bidding on government work altogether.

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Four tips to help you ace your Xero Award nomination

Xero

The Xero Australia Awards are back for another year! That’s right, this is a chance to showcase your achievements, benchmark your business against the industry, and be in the running to win an exclusive awards experience. . Like last year, we have 13 major categories. These are designed to recognise the diversity (and talent) of our business community.

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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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IRS Form W-9: 5 Burning Questions, Answered

Patriot Software

Does your business hire independent contractors, gig workers, or freelancers? If so, congratulations—you get to learn the ins and outs of IRS Form W-9! So, what’s the scoop with the IRS W-9 form? What exactly is it used for? Who needs to fill one out? We have the answers to all of your burning questions […] READ MORE.

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Intuit Announces New Desktop Payroll Changes

Intuitive Accountant

The global technology platform also has announced changes to QuickBooks Desktop Payroll Subscriptions and Pricing for 2023.

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How to Hire People Who Won't Quit

GrowthForceBlog

7 min read. Whether you run a small, medium, or large business, the basic goal of hiring tends to be the same: hire the best candidate who will help fulfill your organization's mission and reach your goals.

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IRS expands crypto question on draft version of 1040

Accounting Today

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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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Meet Top 100 ProAdvisor Marjorie Adams

Intuitive Accountant

Our spotlight of the Insightful Accountant 2022 Top 100 ProAdvisors begins with industry thought leader and Fourlane CEO Marjorie Adams. See what she says it takes to stay on top of your game.

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Why Your Accounting Firm Needs a Blog and How To Get Started | Canopy

Canopy Accounting

Content marketing is a tool that can help increase traffic to your website, build trust with your audience and boost SEO rankings. Let’s take a look at how these things can be accomplished.

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Benefits of TODOIST for Busy Business Owners, Controllers, and CFOs… And Why We’re Fans

LSLCPAs

If you’re looking for a better way to get control of your many “To-Do” lists—or LARGE projects—you might want to look at the TODOIST app, which you can find on TODOIST.com. This article will focus on the benefits of this app for busy business owners, controllers, CFOs, and their teams. We plan to tell you. The post Benefits of TODOIST for Busy Business Owners, Controllers, and CFOs… And Why We’re Fans appeared first on LSL CPAs.

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Is there a shortage of worldwide digital talent

Menzies

Menzies LLP - A leading chartered accountancy firm. There is currently a deficit of skills, especially around web development and digital technology, affecting multiple industries and sectors. Because of this, many UK-based companies are now employing remote workers in foreign countries such as America, Amsterdam, and Spain. What caused this lack of skilled workers?

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Looka, Xero Ink Referral Partnership Program

Intuitive Accountant

The new Partner Marketplace Program is a resource designed to connect small businesses to a range of online accounting solutions.

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IRS releases sample security plan for tax pros

Accounting Today

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Avalara to be Acquired by Vista Equity Partners for $8.4 Billion

Intuitive Accountant

The tax compliance automation provider Avalara has entered into a definitive agreement to be acquired by Vista Equity Partners.

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Dynamics resellers join forces to aid Ukrainian teams

Accounting Today

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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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Expensify Wins Best Workplace Awards

Intuitive Accountant

Honors by Fortune and the San Francisco Chronicle have cited the software company as one of the best places to work.

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6 key issues a firm's ownership agreement should address

Accounting Today

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When growing your practice is NOT the solution you need

Mark Lee

Many management consultants would argue that if your practice fails to grow it will stagnate. Is that true actually? I think it depends on what one means by ‘grow’. Grow the client base? Turnover? Profits? Range of services? Efficiency? I prefer the word ‘evolve’ as I’ll explain below. Many years ago I was headhunted to join BDO as a partner in London.

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CohnReznick to monitor JFK airport redevelopment

Accounting Today

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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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What's new in July for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Holiday hucksterism? State sales tax holidays fail to live up to the hype. That’s the consensus of a recent report from the Institute on Taxation and Economic Policy, which notes that “so far this year 20 states have decided to forgo a combined $1 billion in vital tax revenue?

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PwC U.K. hit with £1.75 fine over BT audit

Accounting Today

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Tax Consequences of Selling Your Home

Dent Moses

We’re all familiar with soaring home prices. In addition to the normal moves associated with life changes, this has many people wondering if now is the time to sell. We’ve had a number of calls from clients asking about the tax consequences of a residence sale. First, what constitutes a personal residence? It’s where you live the majority of time – true fixed and permanent home.

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Rebuild your business model to scale your firm

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.