Sat.Oct 08, 2022 - Fri.Oct 14, 2022

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Email Blunders That Cost Accountants Time and Money

Lockstep

Email is a necessary evil for accounting teams. It’s the primary way we communicate with our colleagues, vendors, and customers. But it can also be a huge source of frustration – especially when things go wrong. In this three-part blog series, we’ll take a look at some of the biggest email blunders that can cost accountants time and money.

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Happily Ever After - Achieving a Fairy Tale Month-End Close | CFO.University

Accountant Advocate Submitted Articles

A Professional Community of Member-Scholars, Companies and Trusted Advisors committed to the education and development of Chief Financial Officers.

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2 Big Reasons Why You’re Having Trouble Scaling Advisory Services

Ryan Lazanis

With the growing number of firms entering the virtual CFO and advisory space, there are two important things that you need to know to prevent being in a bottleneck position and improve your chances of scaling your firm. Listen Below. 0:32 – There are two reasons why many have trouble scaling their virtual CFO and advisory services. 0:54 – W e want to create a model that can scale, and which can operate systematically, in a fashion where no bottlenecks exist. 1:08 – The first bi

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Accountants, remove these 5 things from your to-do list

Accounting Today

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How to Build the Ideal HR Team

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.

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What Is Attendance Management?

Patriot Software

Employees come to work, do their jobs, and then go home. Day after day. But, sometimes employees call off sick or come in late. They might ask you to rearrange their schedules to accommodate their personal lives. How can you possibly keep track of all the coming and going? You need an attendance management system […] READ MORE.

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Are you a new Certified Management Accountant? Avoid these 4 mistakes at all costs

Accounting Today

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Tricky items for sales tax

TaxConnex

We’re fond of saying that nothing’s ever easy in sales tax. And here we’ll kick off our run toward Halloween with a look at one of the newest and trickiest areas of sales tax: electric vehicle chargers and charging. This new line of business raises a few sales tax questions, chiefly regarding the electricity flowing into the vehicles. Though states like Kentucky are considering or already have additional fees for owners of electric cars, most states are still fuzzy on whether the customer or the

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How CPAs can communicate with clients in a digital world

Accounting Today

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Tips for Relocating Your Small Business

VetCPA

Is your business thinking of moving to a new location? No need to worry, we got you covered with some tips for the journey! Why are you relocating? It’s important that you first consider why it is necessary to change your location. If you’re certain about the move, you should be able to fully answer the following questions. Are you moving for a new market to give you more opportunity than your previous one?

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The Importance of Investor Updates

BurklandAssociates

Many founders don’t understand the importance of regular updates and communication with their investors. Once they secure their funding, the focus moves to their business – which makes sense. However, Read More. The post The Importance of Investor Updates appeared first on Burkland.

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Planning Your Restaurant's 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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In telecom case, fault is with the company – not the third-party provider

TaxConnex

A proposed penalty from the Federal Communication Commission shows the danger of a hire-and-forget attitude toward a third-party for tax compliance. The FCC has proposed a $153,000 penalty against a Florida-based telecom provider that had outsourced its compliance tasks. The FCC alleges that the company failed: to cooperate with the revenue reporting verification functions (i.e., “contributor audits”) by the Universal Service Administrative Company?

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Connecticut Paid Family Leave and What to Know

Patriot Software

Connecticut joined the paid family leave states when employers began handling Connecticut paid family leave contributions in 2021. Time has flown by and it’s now 2022. What does that mean? Employees in Connecticut can now apply for benefits from the state’s paid family leave program. Read on to learn about the new Connecticut paid family […] READ MORE.

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Young Accountant Narrowly Misses the Tragedy of Working For Grant Thornton

Going Concern

Someone on r/accounting posted this over the weekend and I thought it worth sharing because it reminds everyone of two very important facts when it comes to recruiting: 1) never bank on a verbal offer and 2) don’t work for Grant Thornton. Oops wait, I meant 2) if firms recruiting on campus engage in any kind of screwy behavior you should report it to your school’s accounting chair/director/benevolent overlord.

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Anders Named a Top Privately Held Company in St. Louis

Anders CPA

Anders has been named to the St. Louis Business Journal’s list of Top 150 Privately Held Companies in St. Louis for the first time. Each year, the St. Louis Business Journal celebrates the largest and fastest-growing companies in our region. The Top 150 list features the top privately held local companies ranked in order by revenue. Coming in at #145, Anders is honored to make the list for the first time in 2022.

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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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Must Applicable Large Employers File ACA Information Returns Electronically?

ThomsonReuters

QUESTION: We added a large number of full-time employees in 2021 and became an applicable large employer (ALE) in 2022. We are preparing to file Forms 1094-C and 1095-C with the IRS in early 2023. Do we have to file the forms electronically? ANSWER: The filing method—paper or electronic—depends on the size of the ALE. As background, the Affordable Care (ACA) enacted Code § 4980H, which imposes employer shared responsibility penalties on ALEs that fail to offer full-time employees adequate empl

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Do Employers Have to Give Pay for Jury Duty Leave?

Patriot Software

When an employee is called to serve on a jury, it can be a strain on your business. You might need to adjust schedules to fill the employee’s absence. Product creation or services might be disrupted. When your employee is fulfilling their civic duty, your business doesn’t stop. But, when an employee is on jury […] READ MORE.

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10 Tax Season Time Management Tips You Can Use

Intuitive Accountant

When the deadlines hit, it's good to know how to ease things down. To help you get in the groove, here are some reminders on how to better manage your time from Breadnbeyond's Andre Oentoro.

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Small business bookkeeping for dummies

Reckon

Ok, so you’ve finally got your small business idea off the page and into the real world. You did it! Nice job. But now that you’re consumed with providing your goods, building a brand and turning over some cash, you might have forgotten the lurking reality in the background – bookkeeping! Bookkeeping may not be your forte, but don’t despair, with some basic knowledge, a bit of discipline, and some software tools, you can master the basics with ease.

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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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IRS Regulations Base Eligibility for ACA Premium Tax Credits on Affordability of Family Coverage; Related Guidance Allows Additional Election Changes

ThomsonReuters

Final Regulations: Affordability of Employer Coverage for Family Members of Employees, 26 CFR Part 1, 87 Fed. Reg. 61979 (Oct. 13, 2022); IRS Notice 2022-41 (Oct. 11, 2022). Regulations. Notice. The IRS has finalized regulations that change the eligibility standards for an Affordable Care Act (ACA) premium tax credit (PTC) by providing that, for taxable years beginning in 2023, affordability of employer-sponsored coverage for an employee’s family members is based on the employee’s cost to cover

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Do Employers Have to Pay Unemployment Taxes?

Patriot Software

As a small employer, you have all sorts of payroll taxes to worry about: income taxes, Medicare tax, and Social Security tax. But, what about unemployment taxes? Do employers have to pay unemployment taxes? Do employers have to pay unemployment taxes? In general, all employers have to pay unemployment taxes. Some exemptions exist, which are […] READ MORE.

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Average Bookkeeper Salary in the United States

Snyder

As the title of the article is quite unambiguous, it might seem that mentioning a couple of numbers would suffice. But the job market today is much more complicated than stating some numbers if one wants to get some deep insight into the topic. . The average salary of any profession is influenced by a number of factors, so it’s logical to look into these variables.

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Cyber Insurance: The Importance of Being Proactive

Withum

Cyber insurance provides companies with some financial peace of mind as an essential component of their cybersecurity risk mitigation strategy. It can help to recover from a data breach or cyber incident – or at least that used to be the case. Cyber insurance was a tool leveraged to mitigate cyber risk at the expense of implementing appropriate cybersecurity controls.

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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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9 GST Amendment effective from 1st October 2022 | Finance Act, 2022

VJM Global

Finance Act , 2022 introduced various amendments under GST Law. However, most of the amendments were not implemented till date. Now, with effect from 1st October 2022, the following amendments are made applicable. 1. Due date of claiming ITC extended and Only eligible ITC can be claimed- Amendment in Section 16 (Section 100 of the Finance Act, 2022). 1.1 Extended due date of claiming ITC.

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One of a Kind: Maine’s Paid Sick Leave Law

Patriot Software

With paid sick leave programs on the rise, more and more states are establishing new laws for employers. One state that has taken its law to the next level is Maine. The Maine paid sick leave law boasts something that no other state can: paid leave for any reason. Read on to learn all about […] READ MORE.

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Ignition Launches Continuing Professional Development Course

Intuitive Accountant

The free, on-demand certification course provides accounting professionals with tools to enhance their client engagement and scale their business.

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How to Get Free Transcripts Online | Canopy

Canopy Accounting

Are you an accountant who used to be able to pull transcripts for your clients using a third-party software, then sometime last year, that service stopped working—and now you have to deal directly with the IRS?

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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Cost Overruns in Construction Projects And How to Manage Them

Steve Feinberg

Cost overruns in construction projects are exactly what they sound like: You meticulously considered the project, offered a detailed bid, spent time, resources, and capital to complete the work to code and client satisfaction—only to have spent 30% more than you initially planned to when the job is finished. If this sounds familiar to your company, you’re not alone.

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What Is Workers’ Compensation Fraud?

Patriot Software

Accidents can happen in the workplace. When an employee gets a work-related injury or illness, your business could be on the line. Workers’ compensation insurance protects you by reimbursing employees when accidents take place. But, employees, employers, and even health care providers can take advantage of the system by committing workers’ compensation fraud.

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5 Ways to Better Manage the Human Side of Your Practice

Intuitive Accountant

In a time when making your practice's brand matter, BrightMark Consulting's Jane Cavalier offers tips for building a reputation—and name—that people can trust.

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The Making Tax Digital for VAT portal is closing. Here’s what it means for small businesses

Xero

Close the door, pull down the shutters. The time has come. HMRC is closing the old VAT online portal on November 1. You may have recently received an email from HMRC explaining that VAT-registered businesses will no longer be able to use this gateway to file monthly or quarterly VAT returns. Instead, you’ll need to submit them through Making Tax Digital (MTD)-compatible software. .

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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.