Mon.May 01, 2023

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5 Habits of Top CFOs

GrowthForceBlog

8 min read Chief financial officers are sometimes thought of as behind-the-scenes, numbers people who can close themselves in an office with a stack of financial data and emerge with their jobs successfully completed. This picture, however, is dreadfully outdated, and the role of a modern CFO has been transformed. While CFOs are still financial experts, they must also be strategic visionaries who are directly involved in all aspects of business operations.

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Why More Small Businesses Owners Are Offering 401(k) Plans to Employees

CPA Practice

By Brit Morse, Inc. (TNS) If your small business doesn’t offer a retirement account to your employees, now may be a good time to change that. More small businesses across the country are taking advantage of new tax credits to offer 401(k) programs , according to a report from the Wall Street Journal. The new tax credits are widely available now thanks to the Setting Every Community Up for Retirement Enhancement (Secure) Act , which went into effect on Dec. 29, 2022.

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Deloitte Inked a Deal For 14,000 Square Feet of Brand New Office Space in Las Vegas

Going Concern

Las Vegas Review-Journal has reported that Deloitte will be one of the first tenants for the second phase of mixed-use development UnCommons in southeast Las Vegas. Developer Matter Real Estate Group announced last week that the firm will occupy 14,000 square feet on the third floor of the fourth UnCommons office building, due to be completed this summer.

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Gender Earnings Gap Shrinking at Record Rate, Pew Says

CPA Practice

By Brittany Leitner, Kiplinger Consumer News Service (TNS) Although men remain in the lead as breadwinners in heterosexual marriages in the United States, the earnings gap is decreasing at a record pace. According to new research from Pew, the “share of women who earn as much as or significantly more than their husband has roughly tripled over the past 50 years.

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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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Planday has arrived in Australia. Is it right for your business?

Xero

Managing people is one of the biggest challenges faced by small businesses. The complexity of payroll obligations makes this even more of a burden. In fact, last year we surveyed small businesses across Australia and found that 37% were worried they would accidentally pay their staff incorrectly. To ease the burden on employers, we’ve introduced an online workforce solution: Planday.

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Beyoncé Fighting IRS Over Alleged $2.69 Million in Back Taxes

CPA Practice

By Evan Rosen, New York Daily News (TNS) After the IRS claimed Beyoncé owed nearly $2.7 million in back taxes from 2018 and 2019, she has now decided to file a petition disputing the claim. The 41-year-old music and fashion icon filed the petition earlier this month, and has also requested a trial over the matter in Los Angeles, reports People. A potential date for the trial is unknown.

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What Are the Tax Implications of the SECURE 2.0 Act of 2022?

CPA Practice

The SECURE 2.0 Act of 2022 addresses issues lawmakers believe are roadblocks to effective retirement planning. Building on reforms in the Setting Every Community Up for Retirement Enhancement Act of 2019, this legislation expands retirement coverage and makes retirement plans easier to navigate. While containing provisions concerning a wide range of issues, financial professionals who serve tax clients need to know the tax implications of this legislation.

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Unlock Maximum E-Commerce Profits With These 6 Tips on Accounting for Amazon Product Rebates

AccountingDepartment

A product rebate on Amazon is a type of promotion offered by manufacturers or sellers to incentivize customers to purchase their products. It typically involves offering a partial refund or discount on the purchase price of the product, either at the time of purchase or after the purchase has been made.

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Fyle Making SMB Expense Management Fast, Easy and Real-time

Insightful Accountant

Fyle is helping give small businesses real-time visibility of their credit card data by directly integrating with payment networks like Visa and Mastercard.

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Cryptocurrency terms: A beginner’s guide to advise your clients

ThomsonReuters

As the acceptance of cryptocurrency continues to grow, more and more clients are seeking guidance in navigating the intricate complexities of virtual money. To ensure your firm can meet the needs of these clients, it is essential for your staff to be equipped with a basic understanding of digital currency. Common Cryptocurrency terminology Cryptocurrency mining : A process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger.

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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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3 Reasons Why You Need A Client Portal | Canopy

Canopy Accounting

Client portals have come a long way since they were first introduced. Revolutionary as they were, the first portals were simple tools—clunky and barely more secure than your Hotmail account. Those stone-age portals required a level of technical understanding that few were comfortable with.

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Monday Morning Accounting News Brief: Law Firms Celebrate EY’s Failure; PwC ‘Nature Specialists’; UK Tax Scandal | 5.1.23

Going Concern

The EY split is really dead. Were there any doubts? A WSJ exclusive : Leaders of EY’s dominant U.S. and U.K. operations are focused on repairing the damage from the 18-month effort to split the firm’s auditing and consulting operations, known as Project Everest. “My message to everyone about Everest is, it’s behind us,” Kevin Flynn, head of tax at EY’s U.S. arm, told his staff recently, according to a recording of a webcast heard by The Wall Street Journal.

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3 Reasons Why Accountants Need A Client Portal

Canopy Accounting

Client portals have come a long way since they were first introduced. Revolutionary as they were, the first portals were simple tools—clunky and barely more secure than your Hotmail account. Those stone-age portals required a level of technical understanding that few were comfortable with.

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Anders Named to 2023 Best Accounting Firms List by St. Louis Small Business Monthly

Anders CPA

Anders was named to St. Louis Small Business Monthly’s list of Best Accounting Firms for 2023. The Best Accounting Firms were nominated by St. Louis area businesses and voted to have the top accountants in St. Louis as part of Small Business Monthly’s Best in Business awards. A full list of Best Accounting Firms can be found in the May 2023 issue of St.

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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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Am I There, Yet? Taking Time off Work From Your Firm

Patriot Software

Accountants aren’t famous for taking vacations. They’re known for working hard and seldom taking breaks. But long hours and late nights aren’t sustainable forever. If taking time off work isn’t on your radar, you may need to consider it eventually. Read on to learn how to take time off work as an accountant.

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Steve Martini named Business Angel of the Year by the LABJ

Withum

Withum is proud to share that the Los Angeles Business Journal (LABJ) has named Steve Martini their Business Angel of the Year at their annual Nonprofit and Corporate Citizenship awards. The awards honor the nonprofit community’s incredible work and the corporate citizens and businesses that support them. Steve Martini has over 30 years of experience focusing on business consulting and management advisory services.

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Donah to succeed Pitter as President and CEO of MassCPAs

CPA Practice

T he Massachusetts Society of Certified Public Accountants (MassCPAs), the state’s professional association representing 11,500 members, today announced that Amy Pitter will retire as President and CEO of MassCPAs on December 31, 2023. The search committee of MassCPAs’ Board of Directors unanimously elected Zach Donah, CAE, current Deputy CEO and former Vice President of Advocacy, to succeed Pitter as President and CEO, effective January 1, 2024.

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Doing Less and Getting More from Content Marketing

MazumaBusinessAccounting

These days, companies are increasingly allocating more time and money to content marketing. And the effort is not without good reason, as 67% of marketers suggest that content marketing generates demand and leads. But with a surplus of information and entertainment options available to consumers, is all content marketing worth the effort and resources?

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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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Changing Jobs? Don't Forget About Your 401(K)

RitaKeller

When changing jobs, one of the most important questions to ask yourself is what to do with the money in your 401(k) account. Making the wrong move could cost you thousands of dollars or more in taxes and lower returns.

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Los Angeles tax representation by Mike Habib, EA

MyIRSRelief

If you’re facing an IRS audit or dispute in Los Angeles, you need a fierce tax representative who can protect your rights and defend your interests. One such representative is Mike Habib, EA, a tax professional based in Los Angeles who has a track record of success in helping clients achieve the best possible outcome in their tax matters. Mike Habib is an enrolled agent with over 20 years of experience in tax representation.

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What Are Estimated Tax Payments?

RitaKeller

Estimated tax is the tax paid on income not subject to withholding, such as income from self-employment, interest and dividends, rent, prizes and awards, and gains from the sale of assets.

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Say Goodbye to Ineffective Marketing Tactics: Why Your Firm Needs ABM

CPA Practice

As firm leaders expand their firm’s footprint, account-based marketing (ABM) should be part of their plan. It can help you identify and cater to a specific market through the sales and marketing team’s efforts. What is account-based marketing? Gitnux summarizes (ABM) like this, “Account-based marketing (ABM) is an increasingly popular form of B2B marketing that focuses on targeting individual accounts instead of large groups or an entire market.

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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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Saving for Education: Understanding 529 Plans

RitaKeller

Section 529 plans are an excellent way to save for your child's education and can be used for a child's K-12 education as well as college or vocational school.

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HubSync Secures Series A Funding for All-In-One Tax and Accounting Platform for CPAs

CPA Practice

HubSync Co., a SaaS software company with a next-generation tax and accounting automation platform, raised its Series A investment round, which was led by Nashville Capital Network (NCN) and included other highly-strategic industry veterans. The funding will be used to fuel HubSync’s rapid growth and further accelerate product development. Innovative CPA firm leaders rely on HubSync’s all-in-one, modern client platform which automates the tax return and other key processes and provides a single

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What To Do if You Missed the Tax Deadline

RitaKeller

Haven't filed a 2022 tax return yet? Don't worry; it's not too late. You can still file, and it may be easier than you think.

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There is Only One Minivan Eligible for EV Tax Credits

CPA Practice

By Ira Boudway, Bloomberg News (TNS) After months of debate and lobbying over exactly how the U.S. Treasury Department would interpret new battery-sourcing rules for electric vehicle tax credits, the list of EVs that qualify for the full $7,500 incentive is down to 10. This exclusive lineup includes some marquee names: There’s the first ever all-electric Cadillac, plus Ford’s reinvention of an iconic American truck and a pair of groundbreaking Teslas.

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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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More Young Adults in U.S. are Living Paycheck to Paycheck

CPA Practice

By Alex Tanzi, Bloomberg News (via TNS). The share of young people who struggle to cover everyday bills jumped from a year ago, while that of seniors living paycheck to paycheck leveled off, according to a report. The survey, conducted by LendingClub Corp. in partnership with industry publication Pymnts.com, shows a widening generation gap in the way Americans are coping with inflation and higher costs of living.

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Minnesota Likely to Legalize Recreational Marijuana

CPA Practice

By Ryan Faircloth – Star Tribune (via TNS). The Minnesota Senate cast its first-ever vote to legalize recreational marijuana on Friday, pushing the proposal closer to becoming law than ever before. Senators passed the marijuana bill on a 34-33 vote, with all Democrats voting for it and all Republicans opposing it. The House approved its marijuana bill Tuesday.