RogerRossmeisl
MAY 16, 2022
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS.
BurklandAssociates
MAY 9, 2022
One of the most frequent questions Burkland CFOs receive from our SaaS startup clients and their investors is, “how do we compare to other SaaS startups?” It is a good Read More. The post Financial Benchmarks for SaaS Startups, a Self-Assessment Tool appeared first on Burkland.
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Accountant Advocate Submitted Articles
MAY 31, 2022
It can be appealing to view the federal government as a customer, but do you know what it takes to prepare a federal government contract bid?
Going Concern
MAY 20, 2022
[UPDATE 5] Not sure if this is pertinent as to why the FBI and IRS raided Alliantgroup’s offices in Houston this morning, but one Alliantgroup employee who contacted us earlier today said the firm’s billing practices are unfair to its clients: For most clients there is a 35% fee cap for our services. Employees are incentivized to use this entire amount up.
Advertiser: Paycor
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.
Withum
MAY 16, 2022
The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. The decrease in value of commercial property has forced many owners to restructure their debt. However, the resulting forgiveness of a portion of the debt does not automatically result in federal taxable income.
Xero
MAY 30, 2022
Cloud-based apps and tools, like those in the Xero App Store or wider Xero Ecosystem, have given small businesses the ability to use a combination of apps to build their own bespoke business engine. And according to the numbers, the more apps the merrier. Our research has shown that organisations who use five or more apps have seen sales growth of 4.3% , while those who don’t use any at all have experienced a 3.4% decline (year to December 2020).
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
MAY 19, 2022
Unfortunately, businesses often make assumptions about what their clients want. Sometimes they miss the mark, which can lead to misunderstandings, unmet expectations, and potentially dissatisfied clients who eventually take their business elsewhere. “When a firm, or any other business, has been doing things the same way for 10, 20, or 30 years — and it has worked for 10, 20, or 30 years — there are blind spots,” said Greg Pope, Vice President of Marketing at SurePrep.
Accountant Advocate Submitted Articles
MAY 24, 2022
Decreasing MSP profits may be due to technical debt which can be resolved by improving service delivery and eliminating costly clients.
Canopy Accounting
MAY 19, 2022
Times have changed these past few years, haven’t they? There have been so many differences around the world, not only in our personal lives, but in our professional lives as well. The changing times are impacting everyone, including clients—your clients are reevaluating their needs when it comes to their accounting professionals. Gone are the days of clients sticking with a CPA solely because they’ve been with them for years.
Withum
MAY 23, 2022
As the legalization at the state level continues to increase, the need for business valuation is increasing. The reasons for business valuations are varied and include the following: Transactional, which might include the acquisition of an existing business or the buy-in or buy-out of an ownership interest. Planning, which might include gifting and succession planning opportunities.
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.
Accounting Insight
MAY 4, 2022
After two years of cancelled, postponed and virtual events, like everyone else, we are thrilled that in-person exhibitions and trade shows are back this summer. With the market evolving at a rapid pace and new solutions and product developments being designed to enhance the way you do business; it is important that your business and your clients keep up with the perpetual digital transformation.
RogerRossmeisl
MAY 23, 2022
Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a decision to switch. Here’s a quick rundown of the most important issues to consider when converting from a C corporation to an S corporation: Built-in gains tax Although S corporations generally aren’t subject to tax, those
ThomsonReuters
MAY 17, 2022
Do you have clients working full- or part-time in the gig economy? Self-employed workers who drive for Uber or deliver food for DoorDash, who sell crafts and merchandise on Etsy, or who hire out their services on TaskRabbit? These budding entrepreneurs often get paid through mobile payment services like Venmo, Paypal or CashApp or get paid directly through the Uber or Doordash app.
Patriot Software
MAY 31, 2022
You don’t know what you don’t know. This phrase couldn’t be more true, especially when it comes to taking up your business’s accounting. After all, it’s a technical and complex subject. And when it comes to your responsibilities, you probably have a million accounting questions—even if you don’t know exactly what they are. Have questions […] READ MORE.
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
Xero
MAY 25, 2022
We know that mental wellbeing is vitally important, but for small business owners, striking a balance between work and mental health can feel almost impossible. . The past two years in particular have thrown up a previously unseen level of disruption and turmoil for small businesses. From the pandemic, to soaring inflation and energy prices, it’s no surprise that finding the time to invest in mental wellbeing is proving challenging. .
Withum
MAY 16, 2022
Cybercriminals are increasingly targeting law firms; extortion is quickly realized, given the nature of highly confidential client data. The digital footprint of law firms is constantly expanding, leading to more entrances to a firm’s network infrastructure, which is a direct gateway to data. This expansion, combined with insider risks (a firm’s own staff), makes having risk-control protocols of paramount importance.
Intuitive Accountant
MAY 31, 2022
Based on increasing demand for QuickBooks Online and its mission to help its customers thrive, QuickBooks is accelerating its investment in QBO platform products. Liz Scott digs a little deeper.
RogerRossmeisl
MAY 23, 2022
When criminals steal an individual’s identity, the victim can take steps to minimize potential damage by, for example, notifying credit agencies and freezing bank accounts. But what happens if a cybercrook steals a company’s identity and uses it to engage in fraud? This situation can be more complicated — and expensive — to resolve. Fraudsters who use your business’s digital assets for their benefit are known as brandjackers.
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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.
ThomsonReuters
MAY 12, 2022
What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. It is not only time-consuming, but also takes lots of resources as the process can take from a few weeks to several months. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.
Patriot Software
MAY 10, 2022
In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, you need to learn and understand the difference between a credit vs. debit. Otherwise, your books will wind up unbalanced and sloppy (and no business owner wants that!). To get to know debits and credits in accounting like […] READ MORE.
MazumaBusinessAccounting
MAY 31, 2022
Have you ever wondered how long to keep important financial records such as receipts, bank statements, and credit card bills? You’re not alone! Rather than keep everything forever and let the stacks of paper reach the ceiling, develop an organized system of keeping receipts for the recommended amount of time. Remember, the IRS recommends keeping tax-related documents for at least six years.
Withum
MAY 19, 2022
If you received a notice regarding deferred social security taxes that you partially paid back in December 2021, then you are not alone. The IRS has recently issued CP256V Notices to taxpayers that assert penalties and interest for failure to make proper federal tax repayments relating to Form 941. This article will discuss why the IRS is issuing these notices and how you can respond to get the penalties abated.
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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.
Ryan Lazanis
MAY 26, 2022
In this podcast episode, I shared my #1 strategy to combat scope creep and tips on how you can create a system to eliminate it in your firm. Listen below. 1:08 – Scope creep can cause disagreements with clients if you try to charge for out-of-scope work. 1: 30 – To eliminate scope creep, you should define the boundaries of your deliverables and ensure that your client understands them. 2:00 – A well-defined scope becomes extremely important because it helps protect the profitab
RogerRossmeisl
MAY 8, 2022
Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent disbursements. If you suspect occupational fraud and request an investigation, here’s what the experts might find. Unusual changes Your statement of cash flows shows how cash changed during the year.
ThomsonReuters
MAY 5, 2022
Rev. Proc. 2022-24 (Apr. 29, 2022). Available at [link]. The IRS has released the 2023 cost-of-living adjusted limits for health savings accounts (HSAs), high-deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements (EBHRAs). Here are the details: HSA Contribution Limits. The 2023 annual HSA contribution limit is $3,850 for individuals with self-only HDHP coverage (up from $3,650 in 2022), and $7,750 for individuals with family HDHP coverage (up from $7,300 in 2
Patriot Software
MAY 10, 2022
Canton, OH Patriot Software, LLC, a leading accounting software and payroll provider, today announced an exclusive partnership with Vestwell to offer 401(k) plans with seamless payroll integration. Vestwell is the modern fintech engine powering savings and investment programs for small businesses and individual savers across the country. Patriot, powered by Vestwell, will offer 401(k) plans […] READ MORE.
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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.
Anders CPA
MAY 24, 2022
A Missouri bill, HB 2400, could affect businesses across the state with several provisions impacting the R&D tax credit, Missouri Works program, the State and Local Tax Parity Act and more. The bill was recently voted on and now heads to Governor Parson’s desk for signature. New Missouri R&D Tax Credit. While Missouri offers a sales tax exemption for research and development (R&D) purchases made within the state, Missouri has been without a state R&D tax credit since the program
Withum
MAY 5, 2022
Rajesh Tripathi. Principal Washington, DC. Calvin Yung. Manager – Withum. Ambassador Atul Keshap. President – United States India Business Council. John Campanella. CFO – Guidepoint Global. Food: Brazilian Barbecue “Churrasco” and “Feijoada” Sightseeing: Balneário Camboriú located in the State of Santa Catarina.
Going Concern
MAY 20, 2022
For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast. While business writers push endless streams of science fiction about robots taking jobs, technology has been quietly replacing intern busywork at public accounting firms for years.
RogerRossmeisl
MAY 30, 2022
These days, it’s common for businesses to purchase cyber insurance to help mitigate financial losses from network breaches. According to the U.S. Government Accountability Office, the proportion of businesses adding cyber coverage increased from 26% in 2016 to 47% in 2020. But in the event of a loss, processing such claims can be expensive, and insurers are becoming more selective about the companies they agree to insure and for how much.
Advertiser: Paycor
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