Ryan Lazanis

MAY 18, 2023

In this episode, I want to share 9 ways you can leverage ChatGPT in your accounting firm to save time, reduce stress, and boost productivity. Listen below. 0:26 – ChatGPT is a powerful tool that can boost productivity and efficiency for several processes. 1:07 – ChatGPT can help businesses save time and generate high-quality blog content by quickly creating informative and engaging posts based on provided topics and details. 1:39 – Second, ChatGPT helps you draft professional e

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Accounting Seed

MAY 5, 2023

The top 3 ways the role of the CFO is evolving, and how technology is leading the change. Over the years, particularly since 2020, the role of the CFO has shifted dramatically from transactional and historical to real-time and commercially focused. No longer are CFOs solely responsible for financial management and reporting. Now more than ever, CFOs are being called upon to be highly strategic and forward-thinking due to the evolving and expanded needs of businesses.

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Going Concern

MAY 18, 2023

At its core, accounting is a challenging career that requires growth and learning and can usually pay pretty well. There’s lots to do, and it requires developing expertise and finding ways to solve puzzles. Organizations need folks who can understand broad frameworks and rules and interpret that to produce all sorts of things they need. So far, so good.

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ThomsonReuters

MAY 15, 2023

Working in the tax and accounting industry can be a stressful job. With long hours, tight deadlines, and pressure to deliver results, it can be hard to achieve a work-life balance. That’s why it’s important for both tax and accounting professionals and their firms to take steps to protect their mental health. With Mental Health Month upon us, this is a good time to think about strategies to ensure that your teams maintain a healthy work-life balance.

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Companies are increasingly choosing to automate their month-end close process, hoping to get rid of manual activities, save time, and get control of the close. By allowing technology to take the wheel, finance leaders can streamline and optimize the close, leading to greater accuracy, reduced risk, and improved efficiency. This being said, it can still be difficult to find the best month-end close solution for your team.

Finance

CPA Practice

MAY 19, 2023

The IRS is planning to roll out its own free online tax-filing system in a move that could put the agency in direct competition with online tax preparation behemoths like Turbo Tax and H&R Block. In a report the agency submitted to Congress on Tuesday, as required by the Inflation Reduction Act, the IRS said it evaluated the feasibility of providing taxpayers with the option of a free, voluntary, IRS-run electronic filing system, which is being called “Direct File.

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RogerRossmeisl

MAY 5, 2023

The starting point for a business valuation is generally the subject company’s financial statements. Here’s an overview of how historical financial statements can serve as the basis for a valuation professional’s conclusion under the cost, income and market approaches. Cost (or asset-based) approach Because the balance sheet identifies a company’s assets and liabilities, it can be a reliable source of financial information, especially for companies that rely heavily on tangible assets (such as m

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CPA Practice

MAY 2, 2023

By Michael Grothaus, Fast Company (TNS) The World Economic Forum (WEF) has released its annual Future of Jobs Report for 2023 and it makes for some interesting reading, not only for employers but for younger people who have yet to decide upon a career path. One of the most interesting parts of the report looks at the jobs market outlook for the next five years (2023-2027).

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IgniteSpot

MAY 3, 2023

4 Essential CFO Functions Do you really need your CFO to be involved in the sales cycle? Yes, because their job is rapidly becoming about more than reporting. Some even dip their toes into HR! CFO services make your organization more valuable to shareholders, increase your ROI, and improve internal and external relationships.

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Accounting Seed

MAY 15, 2023

The Salesforce and Accounting Seed implementation specialist is sharing their successful approach with clients across the globe—after adopting it themselves. Businesses around the world are using Salesforce for Customer Relationship Management (CRM)—but the capabilities of the platform span far beyond a traditional CRM system. From sales, service, and operations to industry-specific solutions, Salesforce provides a wide range of products that support every business need (plus an entire Marketpla

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Going Concern

MAY 24, 2023

Ed. note: this article’s headline has been changed as we don’t actually know if he got fired or not. Neerabh Mehrotra, formerly Associate Director at Deloitte India, has been let go after he gushed over Adolf Hitler’s charisma, intelligence, and confidence on LinkedIn. The post: Text transcription, courtesy Google Lens: Friday Inspiration Recently I picked up a book on Adolf Hitler “The Dark Charisma of Adolf Hitler” by Laurence Rees.

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"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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RogerRossmeisl

MAY 15, 2023

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. Basic rules and IRS clarifications You can claim an itemized deduction for qualified medical expenses that exceed 7.5% of your adjusted gross income.

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Withum

MAY 4, 2023

There has been a notable increase in companies moving their manufacturing operations back to the United States, a phenomenon known as reshoring. Private equity firms have played a crucial role in this trend, investing in businesses shifting their manufacturing base. Reshoring Process in Private Equity The reshoring process in private equity encompasses three primary phases: Assessment Planning and Strategy Development Implementation and Integration Firms initially assess the viability and advant

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CPA Practice

MAY 16, 2023

By Michael E. Kanell – The Atlanta Journal-Constitution (via TNS). Mary Woods has a career with erratic schedules and unpredictable paychecks, but she saved money and kept her credit score high so she could buy a house on her own. The purchase was a priority, said Woods, 43, a production worker in the film industry who has been in her DeKalb County, Georgia, home for nearly two years, glad for friendly neighbors, the options for walking her dogs and the proximity to urban amenities.

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Insightful Accountant

MAY 10, 2023

Zamp's team includes former state auditors, sales tax experts, research specialists and first employees of Stripe-acquired TaxJar & Vista-acquired Avalara.

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tax auditor Sales 120

Advertiser: Paycor

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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Xero

MAY 9, 2023

Xero wouldn’t be where it is today without the support of our partner community, and that includes our Xero Partner Advisory Council (XPAC). That’s why we’re thrilled to announce our latest XPAC cohort for Australia. The XPAC team is a group of experts connecting Xero to the community and industry alike. They both challenge and champion the needs of the accounting and bookkeeping sector by engaging in open discussion, sharing industry insights, and providing actionable feedback.

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Going Concern

MAY 12, 2023

Have you ever been totally in the zone, grinding away at work oblivious to the world around you when you’re rudely interrupted by a *DING* that snaps you right out of your trance and back to the tedium of a seemingly infinite inbox? Or maybe you were cruising along on some project you’d been putting off when a calendar reminder pops up to tell you you’ve got ten minutes of focus remaining until you need to be in yet another useless meeting (this is me).

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RogerRossmeisl

MAY 15, 2023

Valuing a business requires more effort than just plugging numbers from the financial statements into a spreadsheet or artificial intelligence software program. A valuation professional needs a comprehensive understanding of business operations. Financial statements, tax returns and marketing materials tell only part of the story. Site visits can help bridge the gap, especially in adversarial situations.

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Withum

MAY 2, 2023

Implementing an ERP system requires a cross-functional team of individuals with diverse skill sets, including business process experts, project managers, IT professionals, and end-users. Each team member brings unique perspectives, experiences, and expertise to the table, which helps avoid ERP implementation failure and ensures the deployment is successful.

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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.

Finance

CPA Practice

MAY 26, 2023

The IRS has announced that it’s “open season” on false claims for the Employee Retention Credit (ERC). It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). This type of scheme was recently included on the IRS’ list of the Dirty Dozen tax scams to watch out for in 2023.

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Insightful Accountant

MAY 2, 2023

In today's business landscape, being a thought leader is everything. Otter PR's Amanda Reseburg spins you through some of the fine points of honing your content writing craft.

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Xero

MAY 23, 2023

In just a few months, we’re heading back to Sydney’s iconic Darling Harbour for Xerocon 2023! On 23 and 24 August, we’re bringing our partner community together from across the globe for two inspiring days. So what can you expect? As the world’s most beautiful and innovative conference for cloud accounting leaders, this is your opportunity to see world-class speakers and entertainers, hear thought-provoking updates from Xero’s leadership team, and take home practical learnings from the Xero show

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Going Concern

MAY 9, 2023

In recent years, US firms have shifted heavily into offshoring and it seems it never crossed anyone’s mind that offshore talent might be a finite resource. So far it seems dwindling accounting graduate numbers in the Philippines are mostly affecting in-country businesses and firms, still something worth keeping an eye on. This is from CNN Philippines in March : The country is facing a shortage of accountants as college enrollment for this field of study dropped while those licensed chose t

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Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

Legal

RogerRossmeisl

MAY 15, 2023

One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to attract, retain and motivate employees is to provide education fringe benefits so that team members can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer under a “qualified educational assistance program.

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GrowthForceBlog

MAY 13, 2023

5 min read Outsourced accounting, bookkeeping, and controller services have become a more common solution for small businesses today. Why? The advantages, which once were only enjoyed by mid-market and enterprise companies, are becoming understood by smaller companies. Key Takeaways Why Do Companies Outsource? Cost savings, focusing on core business functions, and solving capacity issues are primary drivers to outsource.

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CPA Practice

MAY 24, 2023

The American Institute of CPAs (AICPA) has endorsed bipartisan legislation introduced by Representatives Judy Chu (D-CA) and Mike Carey (R-OH) to simplify the tax filing extension process. The Simplify Automatic Filing Extensions (SAFE) Act of 2023 would assist the Internal Revenue Service (IRS) with receiving extensions earlier in the year, providing taxpayers, CPAs and the IRS with a streamlined process and reducing the need for many penalty abatement requests.

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Insightful Accountant

MAY 22, 2023

Intuit has significantly enhanced the custom workflow feature within QuickBooks Online Advanced. Murph shows why the new workflows are easier and better than ever.

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quickbooks 111

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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.

Spend Management

Xero

MAY 17, 2023

There’s now a little over two months to go before old reports in Xero are retired. Over the past year, we’ve been encouraging you to make the switch, with lots of education, support and advice from other small business owners and their advisors. If you’ve waited until now to start using new reports, you’ll have less time to make the switch. We urge you to start focusing on this, to avoid any disruption to your workflows.

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Going Concern

MAY 31, 2023

Discountenanced Credit Suisse stockholder Gregory Stevenson is suing 29 of Credit Suisse’s current and former directors and officers, the bank’s ex-auditor KPMG, and various KPMG henchmen on behalf of investors alleging the firm looked the other way while aforementioned directors and officers plundered the bank for more than a decade. The docket number is No. 1:23-cv-04458 in Southern District of New York ( Stevenson v.

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RogerRossmeisl

MAY 15, 2023

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying for a deduction The net operating loss (NOL) deduction addresses the tax inequities that can exist between businesses with stable income and those with fluctuating income.

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Anders CPA

MAY 25, 2023

Over 670 brackets were created during the 35th annual Anders Hoops for Hope March Madness-style bracket tournament supporting Missouri Veteran’s Endeavor (MOVE-STL). As the firm’s 2023 Charity of Choice, members of MOVE-STL joined Anders for a celebration luncheon where the final amount raised during Hoops for Hope was unveiled and a check for $13,010 was presented.

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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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