Sat.Dec 03, 2022 - Fri.Dec 09, 2022

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Beware of this trap if you use social media as an accountant

Mark Lee

Accountants may not always be who they say they are online. If ever accountants needed proof that different social media platforms attract different people I think we now have it. A recent report in The Times revealed something quite shocking about the hashtag accountants. On reading this I then referenced the report on Linkedin and learned that I am certainly not alone in my ignorance.

Account 52
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Client Accounting Services: The Complete Guide

AccountingDepartment

When business owners are first starting out, they usually do not have the time or resources to keep track of their finances. This is where client accounting services come in. Client accounting services can help companies manage their finances, keep track of their spending, and plan for the future.

Account 76
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Who Pays Payroll Taxes? (+ Cheatsheet)

Patriot Software

Whenever you cut a check for an employee, the employee isn’t the only one receiving money. You must withhold payroll taxes from employee wages and remit them to the proper agencies. Depending on the payroll tax, you must match employee contributions. But, not all payroll taxes are created equally. So, who pays payroll taxes? Is […] READ MORE.

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What’s Your Payroll Tax Deposit Schedule? If You’re Not Sure, Read This

Patriot Software

When you have employees, your responsibility isn’t just to pay them. You also need to pay the IRS their share, too. How often you pay the IRS depends on your payroll tax deposit schedule. But, not all employers follow the same schedule. Your schedule, and thus payroll tax deposit due dates, depends on the type […] READ MORE.

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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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Tax pros blast IRS's 'nearly nonexistent' priority phone service

Accounting Today

Tax 121
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Managing Transactional Taxes as Your Business Grows Globally

TaxConnex

You may think that selling outside the U.S. spares you the complexities and headaches of sales tax thresholds. And you’d be right – except that in many countries you’d instead run into value-added tax (VAT) on transactions. VAT is applied at each stage of the supply chain and is recoverable by most businesses and, similar to American jurisdictions’ sales tax, rates are generally applied at a country level with exceptions on certain products.

Tax 195

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Computer Software Costs: How Does Your Business Deduct Them?

RogerRossmeisl

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others. In any of these situations, you should be aware of the complex rules that determine the tax treatment of the expenses of buying, leasing or developing computer software.

CPA 237
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Tax Preparation Checklist for Startups

BurklandAssociates

Use this tax preparation checklist for startups to collect the information and documents your tax professional will need to prepare your 2022 taxes. The post Tax Preparation Checklist for Startups appeared first on Burkland.

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What Do All Those Employee Benefit Acronyms Stand For? (Part 1 of 3)

ThomsonReuters

QUESTION: Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA. What do these and other employee benefit acronyms stand for? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Cafeteria Plans, Consumer-Driven Health Care, ERISA Compliance, Self-Insured Health Plans, and Fringe Benefits manuals. (Next week’s Question of the Week will address acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the following w

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Here’s What Happens When You Hire AI to Do Accounting

Going Concern

For a good decade we’ve heard about the robots that are going to render accountants obsolete, now we finally get a peek at the glorious technology that will transform the industry as we know it. You should prepare yourself, this advanced technology will have you on the University of Phoenix website ASAP to get a jump on the Master’s of Tik Tok degree you’ll need if you have any hope of being employed in the next five years.

Account 104
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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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Is Your Business Closing? Here are your Final Tax Responsibilities

RogerRossmeisl

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If you’ve decided to close your business, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met.

Tax 241
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Intuit QuickBooks Unveils New Innovations that Support Accountants and Drive Business Success at QuickBooks Connect

SchoolofBookkeeping

We are very excited to be at QuickBooks Connect this year. It has been great reconnecting with our colleagues. This is the first in-person event in over three years due to Covid-19. This event is one that should not be missed each year. Learn about the new innovations for accounting professionals announced by Intuit this morning. Intuit QuickBooks Unveils New Innovations that Support Accountants and Drive Business Success at QuickBooks Connect.

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Making the Most of Fixed Asset Purchases – Expensing Options

Dent Moses

Let’s review some options to reduce taxable income through expensing of fixed asset purchases and, in some cases, improvements. To count as a 2022 purchase, the item(s) must be placed in service (used for its intended purpose) by December 31 st. Tangible Personal Property Regulations. In late 2013, the IRS issued final regulations providing rules on the treatment of expenditures for improving, maintaining or purchasing tangible property.

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Theresa Stearns Honored as a CIO of the Year ORBIE Awards Finalist

Anders CPA

Anders Chief Information Officer Theresa Stearns has been recognized as a finalist of the CIO of the Year ORBIE Awards. Presented by the St. Louis CIO Leadership Association ( StLouisCIO ), the ORBIE Awards recognize leading technology executives from the region’s largest private and public companies and not-for-profit organizations to connect with and recognize CIOs to inspire them to achieve their leadership potential.

CPA 98
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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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Going Concern Value, Liquidation Value or Somewhere in Between

RogerRossmeisl

When valuing a business, it’s important to clearly identify the appropriate premise of value. There are two basic options: going concern value or liquidation value. In general, liquidation value sets the floor for a company’s value. When a company is “worth more dead than alive” — such as in a Chapter 7 bankruptcy filing — liquidation value is typically the appropriate premise of value.

Michigan 240
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CalCPA BUZZ: CPA Day and Election Outcomes

CalCPA

With the start of a new legislative session and many new faces in the capitol, CalCPA’s Government Relations team is working to facilitate. The post CalCPA BUZZ: CPA Day and Election Outcomes appeared first on Hot Topics.

CPA 98
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The Ins and Outs of Real Estate Income: Tax Planning for Short-Term Rentals

CTP

Using real estate as a source of income is only becoming more popular with the advent of sites like Airbnb and VRBO that enable homeowners to earn extra cash from property they already own. Taxpayers who are new to leveraging real estate for income may be unfamiliar with the tax loopholes available to them. As a tax professional, you may have to overcome your clients’ uncertainty in taking advantage of these loopholes.

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Appletree & The Prestige Journal Merger Announcement

Steve Feinberg

For Immediate Release December 5, 2022. We’re pleased to announce that Appletree Business Services LLC merged with The Prestige Journal LLC. The Prestige Journal has grown quickly to become a leading provider of bookkeeping, tax, and fractional CFO services for entrepreneurs who are coaches, course creators, and content creators. . Andrew Davis and Josh Baurle, founders The Prestige Journal, said “ Appletree is a great accounting and consulting firm that fits the culture of our team and clients,

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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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How Savings Bonds are Taxed

RogerRossmeisl

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they reach final maturity, what action do you need to take to ensure there’s no loss of interest or unanticipated tax consequences? Interest deferral Series EE Bonds dated May 2005 and after earn a fixed rate of interest.

Tax 197
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How to Renew Your PTIN in 15 Minutes | Canopy

Canopy Accounting

If you are one of more than 759,000 federal tax return preparers in the US, your Preparer Tax Identification Number (PTIN) will expire December 31. It must be renewed before you prepare client tax returns next year. This may sound like just another thing to add to your never-ending to-do list, but the good news is, if you renew it now, it shouldn't take you more than 15 minutes.

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Hamish Cooke and Ben Richmond on Xero's Advisory Services Offerings

Intuitive Accountant

Check out another episode of Accounting Insiders, with Xero's Hamish Cooke and Ben Richmond providing a snapshot of what the online accounting software leader has coming down the pipeline.

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Lonely Workaholics at PwC UK Will Have to Find Some Other Place to Go For Christmas

Going Concern

Last year, PwC UK chairman Kevin Ellis wrote a lovely advertisement article in The Telegraph letting his people know that if they have literally nothing better to do, PwC employees can spend Christmas at the office. He framed it as a kindness for those who may be lonely — or the opposite, ready to beat the s**t out of their roommates after being locked inside with them for so long — and the firm was not going to ask “what the hell are you doing here on Christmas??

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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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Don’t Fall for Invoice Fraud Schemes

RogerRossmeisl

Middle-market businesses lose an average of almost $300,000 annually to invoice fraud, according to a recent survey by software company Medius and researcher Censuswide. Invoice fraud can be challenging to spot — and even more difficult to recover from — but your company can take steps to prevent it from happening. Common types The most common type of invoice fraud is fraudulent billing.

CPA 130
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Get your NZ payroll fit for the festive season

Xero

As we near the end of the year and begin to wind down for the summer break, it’s a good time to make sure you’ve got your payroll sorted. We get asked lots of payroll questions around this time of year so here are the answers to the most common ones. How do I pay my employees all their holiday pay? It’s not possible to pay out holiday pay as such. The holiday pay figure in Xero shows 8% of an employee’s total gross earnings for their current anniversary year.

payroll 87
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So, You Think Accountants Are Boring?

Intuitive Accountant

FloQast's award-winning workplace comedy series returns for Season 2 on Dec. 6. Check out the new trailer here.

Account 114
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How Are Public Accounting Salaries Stacking Up For 2023? (Part 4, Hays U.S.)

Going Concern

The latest group of fortune tellers gazing into crystal balls to figure out what accounting salaries will be like next year are from the recruitment firm Hays U.S. In its 2023 salary guide , Hays provides salary ranges for accounting and finance jobs in nine states, plus the District of Columbia. For this article, we selected four positions in audit and four in tax.

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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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ArtisTrade Live on Lockstep

Lockstep

Connected Accounting Pioneer Provides Unprecedented Access to Mid-Market ERP Systems. Seattle, WA – (December 8, 2022) – Lockstep , the connected accounting network, today announced that ArtisTrade , a finance software provider specializing in supply chain finance, is now live on Lockstep. Lockstep provides an API for developers to connect to and leverage the accounting and financial data of their customers to automate workflows between companies.

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What To Know About North Carolina Power Substations Taken Out by Gunfire

Withum

Withum Cyber Flash Report | US Critical Infrastructure. This past Saturday two electrical substations in Moore County, North Carolina were severely damaged by gunfire leaving residents without power. After the initial attack, it was estimated that around 45,000 people located within the county had lost power. Duke Energy has most recently released as of Monday that around 7,000 residents have had power returned to their homes still leaving around 38,000 without power in their homes.

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Crypto 101 for Accountants and Bookkeepers

Intuitive Accountant

Acuity founder Matthew May and Crypto Practice Manager Anthony Zepeda offer everything today's accountants and bookkeepers need to know about cryptocurrency. Signup for the webinar here.

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What is Cloud Computing?

KROST

Cloud computing is the future of the accounting industry. Essentially cloud computing is the storing, managing, and processing data on the internet instead of storing information on local hard drives or servers. Information can be accessed from any device and is easily shared with management, team members and trusted advisers. Cloud computing simplifies the accounting Read the full article.

Account 75
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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.