November, 2023

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Firms look at ways to attract young people to accounting

Accounting Today

Accounting firms need to pay more to bring young people into the profession, as starting salaries are still lagging compared to other fields, and they have to make other changes in how the job is structured.

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A Strategic Timeline for Implementing a Sales Tax Strategy and Process - Part 2 | TaxConnex

TaxConnex

A job as intimidating as setting up a system to handle your sales tax obligations can be a lot easier if you have an idea how long it will take. As with most aspects of sales tax, there are no fixed answers, but we can give you an idea. Depending on your business and where you are in your sales tax journey, it could take as little as a month or so or up to six months (or more).

Sales 262
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The Benefits of Combining FP&A and Power BI

Acterys

Financial planning and analysis (FP&A) teams are critical for a business’ strategic foresight and its ability to navigate evolving market conditions. These teams are essential in parsing business performance data and crafting informed strategies. However, outdated systems and manual workflows can hinder their effectiveness, leading to issues with data access, accuracy and responsiveness.

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IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims

RogerRossmeisl

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Tax Credit (ERTC) claim and are concerned about its accuracy.

Tax 262
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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Why 2024 will be the year of generative AI for investment accounting

Accounting Today

While it initially garnered attention for its creative applications in content and image generation, the true potential of generative AI lies in its ability to unlock new ways of thinking in the business world.

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2023 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

RogerRossmeisl

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have businesses in federally declared disaster areas.

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Understanding the Latest Accounting Standards Update 2023-01 Leases: Common Control Arrangements

Withum

The subject of accounting standards is of utmost importance in the business world. With the ever-evolving nature of the global economy, it becomes imperative to align accounting practices and regulations with the changing needs of organizations. To this end, the Accounting Standards Update 2023-01 Leases (Topic 842): Common Control Arrangements offers valuable insights and guidelines for entities involved in such transactions.

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Art of Accounting: Problems with accounts receivable besides collecting them

Accounting Today

Delaying a payment or not paying an invoice and letting amounts pile up are a way for a client to give voice to a problem with your services without causing an immediate confrontation.

Account 131
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Elevating Your Accounting Practice: The Critical Role of a Value Committee

CPA Practice

Today, ensuring your firm delivers exceptional value and effectively captures that value through appropriate pricing is crucial. Traditional approaches to scoping and pricing jobs have often been fragmented and inconsistent. Partners and managers handle their own pricing on a client-by-client basis and often end up undercharging. The same client might get a quote from two offices for the same service priced drastically differently depending on who they call.

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Should you charge sales tax to international customers? | TaxConnex

TaxConnex

Selling outside the U.S. does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., but different, too. Europe’s value-added tax VAT is applied at each stage of the supply chain and is recoverable by most businesses and, similar to American sales tax, rates are generally applied at a local (in Europe’s case, usually by country) level with exceptions on certain products.

Sales 264
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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Plan Now for Year-End Gifts with the Gift Tax Annual Exclusion

RogerRossmeisl

The holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or gift tax. The exclusion amount for 2023 is $17,000. The exclusion covers gifts you make to each recipient each year.

Tax 279
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Private Equity Insights for Startup Founders from Gaurav Bhasin

BurklandAssociates

During our recent interview, Gaurav Bhasin shared valuable insights and tips for founders considering a private equity deal. The post Private Equity Insights for Startup Founders from Gaurav Bhasin appeared first on Burkland.

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Deloitte Auditors Got Caught Changing Their Computer Clocks to Backdate Workpapers

Going Concern

This is not the kind of behavior we expect from our friends in the north! CPA Ontario announced yesterday Deloitte will be paying $1.59 million ($1.15 million USD) in fines and costs for breaches of the CPA Ontario Code of Professional Conduct (Rule 501 and 502). 501 covers a firm’s maintenance of policies and procedures for compliance with professional standards and 502 a firm’s maintenance of policies and procedures: competence and conduct of firm members.

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The 20 worst states to be a property owner

Accounting Today

The five states with the highest real-estate taxes have an average rate of 2.17%.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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AP automation best practices for 2024 and beyond.

Airbase

Implementing accounts payable best practices can help your organization reduce risk, save time and money, foster strong vendor relationships, and create a better spend culture. You can better identify the best AP automation solution for your organization by following accounts payable best practices. Table of Contents FirstHeading Finding a system to support accounts payable.

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How To Qualify For Telecommunications Tax Exemptions

TaxConnex

At TaxConnex, we work with telecommunications service providers  of all sizes.  Many are existing MSPs (Managed Service Providers) or IT management companies that would like to expand their service offering and become “stickier” with their clients. They may have infrastructure in place to support the sales tax requirements of their existing business, but the telecommunications service presents a different set of issues.

Tax 264
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IRS Opens Clean Vehicle Tax Credit Tool to Auto Dealers

RogerRossmeisl

As reported via IR-2023-202 on 11/1/2023 IRS opens free Energy Credit Online tool for sellers of clean vehicles to register for time-of-sale reporting and dealer advance payments for the Clean Vehicle Credit The Internal Revenue Service announced today that sellers of clean vehicles can now register using the new IRS Energy Credits Online tool, available free from the IRS.

Tax 264
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Boost Your Financial Performance: Reports Your FP&A Team Needs

Acterys

In a rapidly changing business environment, companies turn to financial planning and analysis (‌FP&A) reports for a holistic understanding of business conditions and performance. For FP&A teams to be most effective, they need powerful, easy-to-use tools that help them quickly analyze data, create financial reports and distribute that information among stakeholders.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Two Paths Forward: AI in Startup Finance

BurklandAssociates

Back office solutions and decision support solutions will both be natural beneficiaries of AI’s core promise. The post Two Paths Forward: AI in Startup Finance appeared first on Burkland.

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Art of Accounting: Managing strategic growth

Accounting Today

Strategic growth requires a plan, execution and something new to present to potential clients.

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Rumor: There Might Be a Big Merger in the Works For FORVIS

Going Concern

Fresh off the rumor mill via the tip box: Forvis, in its laughable quest for global domination (WE DONT WANT TO BE THE BIG 4), is going to announce another merger/acquisition this week, presumably to leapfrog GT and BDO in the Americas or establish significant footing overseas. FORV/S (ugh why’d I type that) currently sits at #8 on the IPA Top 100 with $1.7 billion in revenue.

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Don't Forget Sales Tax When It Comes to Year-End Planning for Your Clients!

TaxConnex

October 15 th ended the last major income tax due dates in 2023. Most CPAs use the fourth quarter of the year for audit and tax planning for clients, strategic planning for the firm and of course, CPE. (Look out for our December webinar for an additional CPE credit!)  As you are contemplating your clients’ needs and identifying tax planning for them, don’t forget about sales tax planning as well.

Sales 263
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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.

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Individual Home Energy Tax Credits for 2023

RogerRossmeisl

Taxpayers who make home energy improvements in 2023 may be able to benefit from tax credits for a portion of the qualifying expenses. The credit amounts have been increased, and types of qualifying expenses were expanded, by the Inflation Reduction Act of 2022. This post is intended to assist taxpayers in comparing the tax credits available for making energy home improvements.

Tax 262
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How to Use Power BI With a HubSpot Data Warehouse

Acterys

HubSpot is an all-in-one marketing technology solution that provides software, tools and other resources to support vital business functions, including sales, marketing and customer service. As businesses using HubSpot scale up and add technology, they find themselves needing to consolidate data sources and extract more value from existing systems. One way to do this is by using Power BI with a HubSpot data warehouse.

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State Sales Tax Liability Continues to Evolve for US Startups

BurklandAssociates

As of 2023, all states have enacted economic nexus legislation. Every business must understand state requirements and evaluate the tax implications. The post State Sales Tax Liability Continues to Evolve for US Startups appeared first on Burkland.

Sales 130
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CFOs should embrace digital transformation or risk irrelevance

Accounting Today

In an ever-shifting global landscape full of economic uncertainties, the traditional role of chief financial officers is undergoing a seismic evolution.

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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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S Corporation Tax Savings: Frequently Asked Questions

MyIRSRelief

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. What is an S Corporation? An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements. The biggest feature of an S Corporation is that it provides its owners with limited liability protection, while allowing income and losses to be passed through t

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5 Benefits of Sales and Use Tax Overpayment Reviews | TaxConnex

TaxConnex

Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. With extensive experience in both the industry and sales tax consulting side, Invoke Tax Partners National Director of Sales and Use Tax, Scott Schwertner, knows how difficult it can be for businesses to get sales tax right on every transaction. It is common for businesses across the United States to pay sales tax and accrue use tax on purchases that are not taxable, resulting in an unnecessary hit

Sales 256
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Investment Swings: What’s the Tax Impact?

RogerRossmeisl

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year-end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to know to avoid tax surprises. Tax-favored retirement accounts and taxable accounts If you’ve had wild swings in the value of investments held in a tax-favored 401(k), traditional IRA, Roth IRA or self-employed SEP account, there’s no

Tax 262
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How to Use Power BI With a HubSpot Data Warehouse

Acterys

HubSpot is an all-in-one marketing technology solution that provides software, tools and other resources to support vital business functions, including sales, marketing and customer service. As businesses using HubSpot scale up and add technology, they find themselves needing to consolidate data sources and extract more value from existing systems. One way to do this is by using Power BI with a HubSpot data warehouse.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.