Wed.Nov 23, 2022

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HLB Names Bill Hagaman as Chairman

Withum

Withum is proud to share that Bill Hagaman has been appointed Global Chairman of HLB International. HLB, the global advisory and accounting network, announced at their annual summit in October that Bill Hagaman , Managing Partner and CEO of Withum, will take over the post from Corney Versteden. We are delighted to welcome Bill as our new HLB International Chairman.

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5 CPE Courses To Be Grateful For | Canopy

Canopy Accounting

The end of the year is nearing, which means it’s crunch time for CPAs who still need to earn those mandatory CPE credits. Accounting CPE credits can be acquired by participating in various courses, webinars, and conferences throughout the year. We’re sharing 5 great course options that you’ll be grateful for while finishing your CPE credits for the year.

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3 Holiday Tips for Small Business Accounting

Basis 365

Holiday accounting requires special preparation. It was the week before Christmas and all over town. Every business was busy Other than us. We are dead. Is this you? This time of year is a great time for retailers, but it can also be slow for service businesses. Unfortunately, January will not bring much relief, as the new year usually begins slowly.

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That’s a wrap for Xero Roadshow Singapore!

Xero

It was an absolute privilege to speak at my very first Xero Singapore Roadshow last week – our first major in-person event in nearly three years. What an incredible day it was, meeting the more than 750 accountants and bookkeepers who showed up to engage with the community, share their knowledge and expertise. An extra special thank you to all those who travelled from Hong Kong, Malaysia, the Philippines, Indonesia and elsewhere in the region to attend. .

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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.

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What’s the Status of the 2007 Proposed Cafeteria Plan Regulations?

ThomsonReuters

QUESTION: We know that the IRS issued proposed cafeteria plan regulations in 2007. What is the status of these regulations? Are employers required to comply with them? ANSWER: The IRS has yet to publish final cafeteria plan regulations. Meanwhile, the 2007 proposed regulations can be relied on for guidance until the final regulations are issued, as explained in the preamble.

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App Partner Stories: Supporting a (robotic) bird’s eye view of analytics (literally)

Xero

Xero app partner Projectworks has been working closely with Aerium Analytics , a Calgary-based technology company that uses data automation and analytics to provide geospatial intelligence, inspection, and wildlife management services using aerial drones. . Aerium is focused on three main products: Foreign Object Debris Detection (FOD). Runway Marking Analysis.

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How UK sole traders can ease their financial admin burden with Xero Go

Xero

In my role as GM of Xero Go, I speak with sole traders, accountants and bookkeepers and have learned so much about the ups and downs of running a business solo. I’m always so inspired by anyone who takes the brave step to start their own business. I love the passion and determination they so often display and know how challenging it can be, particularly over a sustained period. .

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The PCAOB Thinks It Deserves a 12.6% Raise

Going Concern

These days everyone wants a raise that is at least as high as the rate of inflation, which is currently 7.75%. The PCAOB does too. At an open meeting held today [Nov. 18], the Public Company Accounting Oversight Board approved its fiscal year 2023 budget and 2022-2026 strategic plan. […]. The 2023 budget is guided by the strategic plan and provides the Board with the resources necessary to execute its goals to help keep investors protected.

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The Tax Technology Transformation: Getting Started

ThomsonReuters

According to the Thomson Reuters 2022 State of the Corporate Tax Department report, almost two-thirds of all corporate tax departments are either at or near the beginning of their tax technology journey. As a result, understanding how to manage the transition to a more automated, technologically sophisticated department is a top priority for many tax leaders.

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Friendly Reminder: If You Are Going to Commit Fraud For Clients, Charge More

Going Concern

Remember the Chrisleys? The flamboyantly wealthy TV couple Todd and Julie Chrisley of Chrisley Knows Best ? On Monday, Todd was sentenced to 12 years in prison and Julie to seven years for an assortment of crimes like fraud, tax evasion, and conspiracy to defraud the United States. Also tied up in this bonanza of federal charges was the Chrisleys’ accountant Peter Tarantino, who was charged with one count of conspiracy to defraud the United States and two counts of willfully filing false t

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2024 Payroll Calendar Templates

These calendars provide pay period dates and paydays for biweekly, semi-monthly, and monthly payroll in 2024. Use them as a reminder or share with employees so they can celebrate payday.

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IRS Releases 2023 Versions of HSA Reporting Form and Instructions

ThomsonReuters

Form 5498-SA (HSA, Archer MSA, or Medicare Advantage MSA Information) (2023); Instructions for Forms 1099-SA and 5498-SA (2023). Form 5498-SA. Form 1099-SA and 5498-SA Instructions. The IRS has released Form 5498-SA for the 2023 tax year, along with its instructions, which are combined with the instructions for Form 1099-SA. (The 2023 General Instructions for Certain Information Returns, which relate to these and certain other information returns, have not yet been released.

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Accounts Receivable (AR) Automation: The Solution To The Collection Problem

Accounting Seed

If you’re running a booming business with plenty of credit sales, it’s great news for your company. It also leaves you with a ton of paperwork. You’re constantly entering sales figures in accounts receivable (AR), invoicing customers, remembering whether they’ve paid, contacting them if they haven’t, and adjusting AR when they settle up. That can add up to a lot of time spent bookkeeping, but it has to be done.

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Tax Implications of Interstate Remote Work for Law Firms

Withum

As a result of the COVID-19 pandemic, there has been an unprecedented shift in employees working remotely. Many law firm practices lend themselves to remote work, and as such, the days of all partners and employees working from a single office in a single state every day are gone. Many law firms now have partners, lawyers, and support staff working remotely on a full-time or part-time basis.

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OCR Cybersecurity Newsletter Focuses on Security Incident Procedures

ThomsonReuters

October 2022 OCR Cybersecurity Newsletter: HIPAA Security Rule Security Incident Procedures (Oct. 25, 2022). Available at [link]. OCR has released its latest cybersecurity newsletter on the importance of having policies and procedures to detect and respond to security incidents. As part of their compliance with the HIPAA security rule, covered entities (including health plans and most health care providers) and business associates (together, “regulated entities”) must implement policies and pro

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8 Signs Your Accounting Team Is Ready to Automate Month-End Close

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.

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ERP Implementation Failure: 8 Mistakes to Avoid

Withum

An Enterprise Resource Planning rollout is paradigm-shifting…err, right? It can be. An ERP system can be critical to running your company better; it can help facilitate better communication between previously disconnected departments and more. This only works however if you avoid ERP implementation failure and the system is implemented properly. Here are some ERP implementation stats to understand the importance of learning from common mistakes: ERPs can reduce operational and administration cos

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Overcoming Awkward, Winning Clients, and Influencing People

Summit CPA

The Virtual CPA Success Show: Episode 67. Are you an introvert who has trouble networking and marketing your brand or business? In this episode, Jamie Nau, our host and Summit CPA's Director of Virtual CFO sits down with Adam Hale, Partner at Anders CPAs + Advisors, and Monica Parkin, author of "Overcoming Awkward, an Introvert's Guide to Networking, Marketing and Sales. " She is an International Speaker, the host of the "Juggling without Balls" podcast and Director of Community Engagement for I

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How an independent valuation can reduce the time and costs of a dispute

Menzies

Menzies LLP - A leading chartered accountancy firm. When groups of businesses are restructuring or are changing hands, they often call in professional advisors to aid in carving up privately run businesses. For example, if a shareholder made the decision to leave and sell their shares, both the departing and remaining shareholders may seek advice on what the best next steps are.

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Skagit County Businesses choosing to live out of a place of gratitude

SkagitCountyTaxServices

This week is an opportunity. To comfort ourselves away from the noise of our clamoring-for-attention society with good food and (mostly?) good company … for sure. But also, to pause. There’s not many opportunities for that as a Skagit County business owner (without falling behind on the 983 conversations you’re part of on a daily basis).

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DOL Final Overtime Rules: Quickstart Guide for Employers

On August 30, 2023, the DOL unveiled a proposed overtime rule that would raise the weekly salary threshold under the Federal Labor Standards Act. Paycor is closely monitoring the proposal and will provide updates as new information becomes available.

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What CPAs need to know about the new SEC marketing rule

Accounting Today

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Court Sets Aside HHS Interpretation That ACA Section 1557 Prohibits Discrimination on the Basis of Sexual Orientation or Gender Identity

ThomsonReuters

Neese v. Becerra, 2022 WL 16902425 (N.D. Tex. 2022). In a class action lawsuit brought by two medical providers, a federal trial court has set aside HHS’s interpretation that Section 1557’s prohibition of discrimination “on the basis of sex” includes discrimination on the basis of sexual orientation and gender identity. The lawsuit challenged a May 2021 notification announcing that HHS would interpret Section 1557 consistent with the U.S.

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IRS posts info on required amendments for 403(b) plans

Accounting Today

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KPMG Australia appoints first-ever head of metaverse future 

Accounting Today

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Tax Fraud Blotter: Fallen stars

Accounting Today

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TIGTA revamps website

Accounting Today

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New AI tool can determine necessity of bank bailouts

Accounting Today

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Trump tax order is latest rebuff by Supreme Court that he remade

Accounting Today

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How Emotionally Intelligent Leaders Drive Business Results

Employees who feel listened to show a 64% longer commitment to tasks (Forbes). And that’s just for starters. Learn how emotionally intelligent leaders drive business results. Download Paycor’s guide for the full story.

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Trump had losses of $900M in two years, jury told

Accounting Today

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Trump's civil fraud trial in NY is set to start in October 2023

Accounting Today

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