Tue.Jun 14, 2022

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The Basics of Cash Balance Plans for Employees and Business Owners

Anders CPA

Saving for retirement throughout your career helps you work towards having the lifestyle you desire when the time comes to stop working. While traditional 401(k) retirement plans are commonplace at most companies, certain employers may also offer a cash balance plan option. Below we dig into the details of cash balance plans for employees and business owners so you can weigh your options.

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Gross vs. taxable sales: Which count toward economic nexus?

TaxConnex

Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. That by itself is confusing enough, and unfortunately it gets more confusing. Focusing on economic nexus, each state defines certain thresholds that include the amount of revenue sourced to a particular state and/or the number of invoices in a particular state.

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People Operations vs. HR: What’s the Difference?

BurklandAssociates

In 2006 Google renamed its HR department “People Operations”. Since then, the term has seen a steady rise in adoption among companies of all sizes. “People Operations” Interest Over Time: Read More. The post People Operations vs. HR: What’s the Difference? appeared first on Burkland.

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Do Accounting Firms Care if You’re On Drugs? Part III

Going Concern

12 years ago my former colleague Caleb Newquist published a post titled “Do Accounting Firms Care if You’re On Drugs?” A good chunk of that post describes Wall Streeters getting blitzed at real estate investment trust companies because back in those days accounting news was extra slow and we wrote about a lot more finance-adjacent stuff until enough commenters bullied us into focusing solely on Big 4 firms and maybe Grant Thornton every now and then when GT does something boneh

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Planning Your Restaurants 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 Can Your Product-based Business Respond to Shifts in Consumer Spending (2022)? 

Patriot Software

Target’s slashing prices on inventory like appliances and televisions. Marriott’s hotel room demand for leisure travel is up 10% compared to 2019 bookings. What does this mean for consumer spending in 2022? It means that a great shift in consumer spending 2022—from goods to services—might be here. For product-based businesses, this change could lead to […] READ MORE.

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Calculating and Using AR Turnover Ratios

AccountingDepartment

Your accounts receivable (AR) turnover ratio is an essential element of the accounting process. Find out, in this article, what makes the AR turnover ratio tick and how to calculate this for your company. Learn how to make better gains with your business by using this key metric for a performance standard.

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5 Reasons You Need a New Practice Management Strategy

Intuitive Accountant

Achieving short- and long-term financial and operational goals means your firm must continue to implement new methodologies and ideas. Here are some indicators where you might be missing the mark.

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Net Profit and Retained Earnings: What’s the Difference?

xendoo

Retained earnings are a key indicator of a company’s financial performance. Read on to learn about what they are, how to calculate them, prepare a retained earnings statement, and more. . Table of contents . What are retained earnings? Why are they important? What is net income? Retained earnings vs. net income. How to calculate retained earnings. Retained earnings and shareholder equity.

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Special Treatment

RitaKeller

“I am a product of nepotism. I don’t think I would have had the profession that I’m in currently if it wasn’t for my dad.” – Jeff Bridges. It’s an old story in the business world. The boss’s son has joined the firm/business. The “other” employees cringe but they are willing to give “the kid” a chance.

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IRS issues revised audit technique guide for cost segregation analysis

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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A Bigger and Better Way to Run Your Practice

Intuitive Accountant

A new eBook from Canopy will give you the practical tools to advance your workflow and create a more efficient and empowered firm.

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The dirtiest tax scams for 2022

Accounting Today

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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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Maryland Assoc. of CPAs names new CEO

Accounting Today

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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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Should You Be Worried About Your Kids Browsing Incognito?

SkagitCountyTaxServices

That means everything that you have added to dictionary will be deleted from your iPad or iPhone. That’s really amazing post about that what are things we need to delete before selling our iPhone. Call your carrier and ask them to remove your iPhone from your account. I know the option because I’ve used it before, but sometimes it shows up correctly and other times it does not.

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A portrait of small businesses in a pandemic

Accounting Today

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What’s the best way for an accountant to win new clients?

Mark Lee

Many of the accountants who take up the opportunity to book a call with me start with variations on the same question: How can I attract new clients? How can I grow my practice? What can I do to get more clients? I need more clients, what should I do? I never know if it helps to know that that are not alone. It’s a common question and concern.

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Inflation has states thinking twice about taxes imposed after Wayfair

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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What Is Accounting Workflow Software? | Canopy

Canopy Accounting

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Management accountants take long-term view during current challenges

Accounting Today

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Manufacturing Industry Outlook Survey Offers Benchmarking Data and Insights

Anders CPA

To fill a void of relevant benchmarking data in the manufacturing industry, Anders and our accounting association, LEA Global , have launched the 2022 LEA Manufacturing Industry Outlook Survey , and we’re looking for input from manufacturers across the country. As a sponsoring member firm, we are supporting LEA to develop valuable insights on manufacturing leadership goals, strategic plans, budgetary trends and global expansion expectations.

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In the blogs: Just plain fun

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 is Lockstep® Inbox?

Lockstep

Lockstep is pleased to announce our latest offering, Lockstep® Inbox. Revolutionizing accounting, Lockstep Inbox creates an shared inbox where accounting teams professionals can work better with customers and vendors. Today, more than 90% of accounting professionals are using manual personal, email inboxes and spreadsheets to manage their “digital” accounting workflows.