Sat.Mar 25, 2023 - Fri.Mar 31, 2023

article thumbnail

Top Reasons to Switch to Advisory Services and the Tools to Get You There 

CPA Practice

By Kristen Keats, CPA. The accounting profession has been seeing a shift over the last few years where firms are moving away from compliance and leaning into providing advisory services year round. This shift has been spearheaded by customers wanting more guidance and financial support from their tax professionals instead of only a tax return once a year.

article thumbnail

Why so many clients are indifferent and don’t recommend you

Mark Lee

Many accountants claim that they secure much of their new work through word of mouth referrals. This suggests that clients are making positive comments about their accountants. They may do that if they’re particularly happy but in the same way any unhappy clients will be quick to complain about their accountants. I’ve heard a large number of people talking about their accountants in recent years and it’s fair to categorise those views as good, bad, or most often, indifferent.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Busy Season Problems: You Deducted What?, Dumbest Conference Idea Ever, Clients Taking Ls

Going Concern

It occurred to me the other day as I was setting up my bullet journal spreads for next month that it is almost April. How’d that happen? As I was casually drawing out colorful little calendar boxes, checklists, and doodles without a care in the world I remembered that there are a good number of people out there for whom doodling is way, way down the list of things they have time to do (sorry).

cpa 87
article thumbnail

Celebrating Women in the Financial Services Industry

Withum

In celebration of Women’s History Month, Withum’s Women in Financial Services Team is spotlighting some dynamic female leaders in the industry. With dedication, hard work, and collaboration, these women continue to break barriers, ensuring that they and those who come after them have a rightful seat at the table. An overarching theme among women leaders is the importance of advocating for other women and celebrating each other’s accomplishments.

article thumbnail

Planning Your Restaurants 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.

article thumbnail

2023 Tech Company Tax Tips

Shay CPA

Does thinking about filing your taxes put some tension on your shoulders? If so, it’s probably because you’ve had a less-than-ideal filing experience in the past. And in most cases, those unwelcome filing instances come from surprises. Or you might be feeling stressed because you don’t know what to expect. Either way, we can help. By giving you a heads-up in some key areas, we can make filing your tech company’s 2022 taxes gets a whole lot easier — and less stressful.

tax 59
article thumbnail

A Financial Controller May Be Just What You Need, And More

AccountingDepartment

Considering the need for a financial controller for your business? To help you solidify the decision, learn more about the duties of a financial controller and the benefits of partnering with an outsourced client accounting services (CAS) provider to make it even easier!

account 84

More Trending

article thumbnail

How Client Conversations Can Turn Tax Season Into Opportunity Season

CPA Practice

For many accountants, busy season can certainly feel more like “survival season” – last year, nearly 200 million individual and business tax returns were filed , with accountants shouldering a large portion of the work. Now, with accounting firms facing talent shortages and growing workloads, the effort required for this tax season may seem positively Herculean.

tax 121
article thumbnail

Identifying Top Concerns Among Finance Leaders

Insightful Accountant

A national survey by Trullion highlights major accounting pain points, including handling the talent gap, making time for strategy and life after a recession.

Finance 99
article thumbnail

Efficiency In Using Spend Workflows

IgniteSpot

Our firm has turned to three tools—BILL (formerly Bill.com), Divvy, and Rippling—to add more stability for our clients and organization in our workflow. Each tool cuts down on the back-and-forth with clients and stabilizes the confirmation process for cash outflow in our client's organizations. Each tool provides something different, with the goal of gaining more efficiency in recurring workflows, but each emphasizes approval and resource allocation levels.

52
article thumbnail

Awarded Money in a Lawsuit or Settlement? It’s Only Tax-Free in Certain Circumstances

RogerRossmeisl

You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax under the tax code. This includes amounts received in a lawsuit or a settlement and in a lump sum or in installments.

tax 243
article thumbnail

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

article thumbnail

What Founders Need to Know About Dilution

BurklandAssociates

Understanding how new capital will dilute existing shareholders before a round happens is a core responsibility of any startup CEO. The post What Founders Need to Know About Dilution appeared first on Burkland.

147
147
article thumbnail

Customer satisfaction — it’s how Airbase continues to rank #1 on G2.

Airbase

Airbase is the highest-ranked mid-market spend management platform on G2 for the fourth quarter in a row! We hold the coveted top position on the Mid-Market Grid ® Report for Spend Management, Spring 2023. G2 classifies mid-market companies as those with 51 to 1,000 employees. And we hold the number two position overall for spend management, right behind Navan, who sits in the #1 spot for the Enterprise Grid.

article thumbnail

Here Are the Five Countries with the Highest Income Tax

CPA Practice

By Faustine Ngila, Quartz (TNS) Côte d’Ivoire citizens pay the highest income taxes in the world according to this year’s survey findings by World Population Review. While both its sales and corporate tax regimes may be considerably lower than those of other countries globally, at 60%, Côte d’Ivoire’s income tax rates are markedly higher compared to developed countries.

article thumbnail

IRS Announces Crucial Updates on the ERC

Withum

As of March 29, 2023, the IRS has published five documents expressing that the employee retention credit (ERC) is rife with fraud because of unscrupulous tax credit shops. See October 19, 2022 (press release); November 7, 2022 (COVID Tax Tip); March 7, 2023 (press release); March 7, 2023 (OPR Memo); March 20, 2023 (IRS adds promoter claims involving the ERC to its Dirty Dozen list of tax scams).

article thumbnail

No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

article thumbnail

New WSJ Article Underscores the Value of Fractional CFOs for Startups

BurklandAssociates

Early-stage companies often rely on their banks or venture backers for financial guidance, but many now see the benefit of independent advice in managing their capital. The post New WSJ Article Underscores the Value of Fractional CFOs for Startups appeared first on Burkland.

130
130
article thumbnail

Michael Scarpelli on his action-packed path to becoming Snowflake’s CFO.

Airbase

Michael Scarpelli’s career path has been as unique as the snowflakes his company is named for. From a stint in Italy, to uncovering extensive fraud, and taking three prominent companies public — including the biggest SaaS IPO in history — his wide range of experiences made for a fascinating Path to Becoming a CFO session. Launching a career. The possibility of travel was initially what drew Michael to finance.

auditor 130
article thumbnail

Don’t Take Tax Advice from Social Media

CPA Practice

The Internal Revenue Service warns that trusting tax advice found on social media can lure otherwise honest taxpayers and tax professionals into compromising tax situations. Social media can circulate inaccurate or misleading tax information, and the IRS has recently seen several examples. These can involve common tax documents like Form W-2 or more obscure ones, like Form 8944 that’s aimed at a very limited, specialized group.

tax 137
article thumbnail

President Biden’s Anti-Fraud Proposal Expanded: What to Know

Withum

In March of 2022, after President Biden’s State of the Union Address, we summarized increased efforts specifically related to the Paycheck Protection Program (“PPP”) and other pandemic relief fraud. Now a year later, President Biden has doubled down on the government’s efforts to fight PPP Fraud. President Biden’s Proposal to Greatly Expand Resources President Biden has announced a Pandemic Anti-Fraud proposal which increases the funding by $600 million and increases the statute of limitations a

article thumbnail

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.

article thumbnail

Layoff Watch ’23: McKinsey Joins the 2023 Consulting Culling

Going Concern

McKinsey & Co. is joining KPMG , BDO USA , and Accenture in culling the consulting herd. Like Accenture, McKinsey doesn’t get much lip service on this website but it is worth talking about here because cuts from non-Big 4 consulting firms reflect the overall health of the consulting market which therefore effects the firms we do write about.

111
111
article thumbnail

What is AI and why is it relevant for my small business?

Xero

It’s safe to say that artificial intelligence (AI) is now part of common language and everyday life. But while we’ve all heard of the term, not everyone really knows what it is or how to use it (or rather, whether it can be useful for them). Believe it or not, the term ‘artificial intelligence’ has been with us since as far back as 1955, when a number of academics and professionals in the field of technology first proposed a study of the term.

account 108
article thumbnail

The Mystery Behind a $7B Estate Tax Payment

CPA Practice

Tim Fernholz, Quartz (via TNS). Sometimes it seems like billionaires can dominate our lives—or at least the news. A mystery in U.S. tax data, however, suggests at least one super-wealthy individual flew under the radar until the very end. The U.S. Treasury’s daily reports of government financial transactions turned up a surprising data point on Feb. 28, 2023: The deposit of $7 billion in the category of “estate and gift” taxes.

tax 132
article thumbnail

A Tale of Two Pitchers

Withum

It was the best of times; it was the worst of times for New York Met Fans. On December 2nd, 2022, long-time Met’s pitcher Jacob deGrom signed a 5-year contract worth $185 million with the Texas Rangers. The ace of the Mets pitching staff, who had been a lifelong Met, had decided to head to Texas for what he called a “winning culture” and likely tax savings.

Texas 122
article thumbnail

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.

article thumbnail

How Disruptive Cloud Technology is Shaping Practice Growth

Accounting Insight

With 2023 now well underway, we’re beginning to see changes in how practices approach their use of cloud, as they navigate past historic challenges to take advantage of the opportunities the cloud offers. The cloud was once viewed as mainly a cost-savings-focused technology model, allowing businesses to control and even optimise expenditures to get more out of their IT budgets.

article thumbnail

Want to Do Your Part to Help the Accountant Shortage? Here’s What You Can Do Right Now

Going Concern

As accounting firms dig deep into their pockets to raise starting salaries and the profession’s biggest egos brains figure out new and exciting ways to ease the accountant shortage, there are things that you, as an accountant, can do right now to make a difference. Although it may not feel like you can make a difference, in the aggregate all of you operating as a unit can move the needle and in turn illuminate the path to accounting as a promising career full of okay-ish earning potential

account 101
article thumbnail

86% of Accountants Expect Technology to Drive their Firms’ Growth in 2023

CPA Practice

Technology continues to be a driver of growth for today’s successful accounting practices, and professionals know it, with a recent survey showing that 86% of respondents agree that technology will play a significant role in the growth and expansion of their practices in the next year. The survey was sponsored by Intuit Inc., a global financial technology platform that makes several professional, business and consumer tax and financial management systems.

article thumbnail

When It's Time to Migrate Desktop to Online Payroll

Insightful Accountant

QuickBooks Desktop users can take advantage of the benefits of QuickBooks Online without having to start over using a QBO Payroll (payroll only) Subscription.

payroll 108
article thumbnail

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.

article thumbnail

Three Withum Partners Named to ROI-NJ’s Women in Business List For 2023

Withum

Withum is proud to share that three team members have been named on ROI-NJ’s Influencers: Women in Business List for 2023. Carleen Gaskin , Jessica Hollobaugh and Nicole Lyons of the Forensic and Valuation Services team were all named by the New Jersey business publication on their annual Influencers list. The Women in Business Category celebrates female business leaders across industries who excel in their roles and serve as leaders and mentors for the next generation.

article thumbnail

Friday Footnotes: EY Partners Are Split on the Split; PCAOB Further Annoys Auditors; Recruiting Events Are Back! | 3.31.23

Going Concern

Remember tomorrow is April Fool’s. We aren’t planning anything, every day is a joke for us. For nostalgia’s sake, here’s a look back on the time we wrote only about bitcoin and put a fake bitcoin paywall on the site for a couple hours. People did not enjoy that. Big 4 EY Fails to Reach Deal on Split [ Wall Street Journal ] The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who belie

auditor 99
article thumbnail

Half of U.S. Workers Earn Money from a Side Gig

CPA Practice

Alex Tanzi Bloomberg News (TNS) To meet increasing spending needs, households can generally do two things: cut spending or raise income. A large share of Americans are doing the latter, according to a new survey. Almost half of employed consumers hold a side job or have some other form of supplemental income such as selling artisan products, data released Monday by LendingClub Corp. in partnership with industry publication Pymnts.com show.

Gambling 122
article thumbnail

The psychology of money: how your mindset affects your financial decisions

Reckon

Anthony Martin, founder and CEO of Choice Mutual says: “The relationship between our mindset and how we handle money is exciting! Your beliefs, attitudes, and behaviours towards money can affect your financial health. If you take the proper steps – acquiring sound financial education, building healthy financial habits, cultivating a sense of abundance, and focusing on long-term goals – you’ll be on your way to developing a healthy relationship with money that will lead you to live your best life

article thumbnail

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.