IRS makes more progress on tax return backlog
Accounting Today
JUNE 21, 2022
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Accountants as Advisors – and the Elephants in the Room!
PANALITIX
JUNE 22, 2022
RESOURCES / ARTICLES. Accountants as Advisors– and the Elephants in the Room! How do Accountants sell more advisory services? This is a question we get asked a lot… and the answer can be more complicated than it appears. For starters, WHY would Accountants WANT TO sell more advisory services? There could be good reasons like: They find advisory work fun and rewarding, perhaps because they get to work more deeply with clients who value their support.
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Trending Sources
Four Things Startup Founders Should Do Now to Prepare for a Downturn
BurklandAssociates
JUNE 21, 2022
As noted in my May email, we recommend taking action from the downturn playbook now. In today’s article, I’ll share four things startup founders should do to prepare for a Read More. The post Four Things Startup Founders Should Do Now to Prepare for a Downturn appeared first on Burkland.
Four years since Wayfair: A trend takes hold
TaxConnex
JUNE 21, 2022
What a 48 months it’s been. The Supreme Court Wayfair decision four years ago gave tax jurisdictions the sudden power to require countless companies to collect and remit sales tax. Those governments jumped the on chance for such big revenue – and continue to do so. In many respects, Wayfair also opened the path to levying additional kinds of tax obligations on businesses that sell online as eCommerce becomes more and popular.
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.
KPMG’s New Metaverse Space is Like the First-Person Shooters You Played in 1999 But Worse
Going Concern
JUNE 23, 2022
14 or 15 years ago I trolled Bill Sheridan of the Maryland Association of CPAs on Twitter about uncovering a weapons cache they’d stashed on CPA Island, a then-revolutionary virtual space in the game Second Life MACPA had set up for…accounting things. Back in 2008 CPA Island was the first (only? It never really caught on IIRC) of its kind and promised to be an exciting hub of pixels for accounting professionals.
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Will the IRS Deny Your Claim for the Employee Retention Tax Credit?
Withum
JUNE 24, 2022
The employee retention credit (ERC) started out slow but keeps going strong, even to the present day. . When it was first enacted on March 27, 2020 as part of the CARES Act, it received little fanfare because taxpayers that received a forgivable loan under the paycheck protection program (PPP) were prohibited from claiming the ERC. When that prohibition was lifted nine months later by the Consolidated Appropriations Act, 2021, claims for the ERC exploded.
Partners Stand to Make Millions (Maybe) If EY Breaks Up
Going Concern
JUNE 21, 2022
The big hurdle in EY’s plan to split audit and consulting lies in whether or not its partners want to take the risk per earlier Wall Street Journal coverage in which people familiar with the matter told WSJ its roughly 12,000 partners will need to vote to approve the spinoff. Well according to this it probably won’t be too hard to get partners on board.
13 Accounting Influencers You Might Not Be Following | Canopy
Canopy Accounting
JUNE 21, 2022
These days, social media is a necessity in today's business world. It's a place to make connections, network and keep a pulse on your industry. Search algorithms have become more sophisticated over the years and content across social channels continues to be curated towards users’ specific interests and needs. Social media is a powerful source of industry information if you’re engaging with the right accounts.
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.
I Sold My Small Business Stock After 4½ Years – Can I Qualify for the QSBS Exclusion?
Withum
JUNE 22, 2022
I receive at least 5 calls per year with some variation of this question. The callers are asking about the exclusion for capital gain on the sale of qualified small business stock (QSBS). By the time they reach me, the callers have already spoken with their local tax advisors and/or looked on the internet, and they know there is a 5-year holding period in order to qualify for the QSBS exclusion in section 1202.
KPMG CEO Pats His Firm on the Back For Being So Behind the Times, Roasts EY While He Does It
Going Concern
JUNE 24, 2022
Sky News has obtained part of an internal memo KPMG Global Chairman and CEO Bill Thomas sent to firm partners earlier this month in which Mr. Thomas turns his nose up at EY’s plan to split consulting and audit practices. Some choice quotes from the memo: We are a partnership that has been strong and growing in some countries for over 150 years.
Four ways to build a fighting fit practice in FY23
Xero
JUNE 22, 2022
The world of advisory has undoubtedly changed over recent years. Since the pandemic’s arrival, many practices have had no choice but to adapt to an environment where uncertainty is the new norm. And despite some persistent challenges – such as hiring staff and rapid regulatory changes – this evolution has also brought about countless chances to grow, connect and innovate. .
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.
Taxpayers with Balances Due Have Been Put on Notice By the IRS
CPA Practice
JUNE 20, 2022
The IRS has begun mailing out CP14 notices to millions of taxpayers who have a balance of $5 or more in unpaid taxes, kindly reminding them that the federal government would like its money.
Being Home During Lockdown Shifted Accountants’ Priorities, Says Lady
Going Concern
JUNE 24, 2022
Kristy Illuzzi, CPA, CGMA of International Federation of Accountants (IFAC) on why the Great Resignation is affecting the profession so acutely : I think the Great Resignation is interesting in that it has impacted almost every sector of our economy and every profession in some way, and it’s no different in the accounting industry. I think a lot of people during 2020, 2021, when we were on lockdown, we started doing things very differently.
The next step in our journey towards a unified client record
Xero
JUNE 21, 2022
If you’re an accountant or bookkeeper, you’ll know that having consistent information across your practice management tools is vital. That’s why we’re working hard to create a unified client record across Xero Practice Manager (XPM), Xero Tax, and Xero HQ. This will reduce double handling of data and give you confidence in the accuracy of your records, so you can become more efficient in your day-to-day work.
8 Pillars of Leadership Development
Advertiser: Paycor
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.
Bullet-Proof Your Accounts Payable with 3-Way Matching
xendoo
JUNE 22, 2022
The process of 3-way matching in accounts payable protects your business against incorrect or fraudulent invoices. It mitigates risks in your company’s spending by making sure you don’t overpay for services or fall for counterfeit invoices. It may sound like no one would fall for invoice fraud—when a scammer pretends to be a business partner or vendor and sends a company an invoice for services that they didn’t actually deliver.
EY Throws a Fit When Your Job Circumstances Change
Going Concern
JUNE 23, 2022
I got an offer in a corporate role and turned in my two week notice at EY. Everything was fine: HR treated me well and wished me luck in the next chapter of my career. However, on my LAST DAY at EY, the new company rescinded their offer for reasons that I won’t get into here but were ridiculous (even the third-party recruiter agreed it was ridiculous).
10 questions you should ask your advisor this tax season
Xero
JUNE 20, 2022
Xero partner and accountant Andrew Van De Beek of Illumin8 shares 10 questions every small business should ask their advisor this tax season (and beyond). . When it comes to tax time, small business owners (perhaps, yourself included) typically have a lot of questions for us advisors. But sometimes, knowing what to ask – or even how to ask it – can be a challenge.
Protect What Matters: Rethinking Finance Ops In A Digital World
Speaker: Cheryl J. Muldrew-McMurtry
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Tax Strategies for Selling an S Corporation: Failing the §302 Stock Sale Tests
CTP
JUNE 24, 2022
As a tax planner, when a client approaches you about selling their S corporation, one of the first questions to ask is whether they are selling the stock or the assets of the business. What is the difference from a tax perspective? An asset sale requires you to allocate the assets into different classes, which then determines your tax liabilities or deductions.
“The digital future is already here. It’s way past time to fully adopt the cloud”
Reckon
JUNE 23, 2022
Once upon a time the cloud was new and strange, and you could exceed in business without paying it any mind. That time has long since passed. With the ATO embracing digital record keeping and compliance methods, it’s only a matter of time before we see a wholly digital business ecosystem. However, focusing merely on compliance is an incomplete view of the march toward the cloud, as the business opportunities and simplicity inherent in integrated cloud solutions are tantalising and inescapable.
QuickBooks Bank Feeds Enhancements
Intuitive Accountant
JUNE 23, 2022
QuickBooks Online Bank Feeds now import available check images and make them available in Accountant View or Business View.
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.
HHS Announces New Version of Security Risk Assessment Tool to Help With HIPAA Security Rule Compliance
ThomsonReuters
JUNE 23, 2022
Security Risk Assessment Tool; Security Risk Assessment Tool v3.3 User Guide (May 5, 2022). Webpage. User Guide. HHS’s Office of the National Coordinator for Health Information Technology, in collaboration with its Office for Civil Rights, has announced an updated version of the interactive Security Risk Assessment (SRA) Tool. The SRA Tool, first developed in 2014 (see our Checkpoint article ), is designed to help healthcare providers conduct a security risk assessment as required by the HIPAA
Selling an S Corporation: Using a Stock Redemption for Tax Benefits
CTP
JUNE 24, 2022
As part of the tax planning process, business owners looking to sell their S corporation first need to establish whether they are selling the stock or the assets of the business. What is the difference from a tax perspective? An asset sale will involve assigning each business asset to an asset “class,” which then determines your tax liabilities or deductions.
Theresa Richardson Named 2022 Women Worth Watching Award Winner
Withum
JUNE 22, 2022
Withum is proud to share that Profiles in Diversity Journal named Theresa Richardson , Chief Talent Officer, a 2022 Women Worth Watching Award Winner. Theresa was acknowledged for her work with Withum’s Inclusion and Diversity initiatives, specifically with the Team Member Resource Groups and expanding the Firm’s team member benefits. She is a co-leader of Women of Withum , a Team Member Resource Group whose mission is to motivate, advocate and elevate women professionals with the tools they nee
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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