Accounting Insight
APRIL 26, 2023
Over the past few months, ChatGPT has been the focal point of many discussions and continues to polarise opinions, with companies and governments banning its use and Spain raising concerns with the EU data protection watchdog over privacy. AI is already here Artificial intelligence (AI) is transforming many industries, and accounting is no exception.
IgniteSpot
APRIL 25, 2023
Understanding Why Workers Are Leaving Punch in, punch out, and collect a paycheck. Not only do most of us not use punch cards anymore, but our priorities have changed, so we expect our jobs to be fulfilling in a wider variety of ways. The result? Workers are calling it quits more easily and often.
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AccountingDepartment
APRIL 25, 2023
Not all business owners are well versed in invoicing clients, collecting payments, tracking payments, or other bookkeeping tasks - and that's okay.
RogerRossmeisl
APRIL 24, 2023
The “investment opportunity” someone just pitched could be a legitimate way to get in on the ground floor of a soon-to-be profitable business. However, it could also be a pyramid, Ponzi or similar fraudulent multi-level marketing scheme. How can you tell the difference between a real investment and a scam? Don’t get scammed Pyramid schemes can be relatively straightforward, such as recruiting people to sell vitamins or cleaning supplies and recruiting family and friends to also sell the products
Speaker: Victor C. Barnes, CPA, MBA
CPA Practice
APRIL 24, 2023
By Twyla Verhelst, CPA. Preparing and filing your taxes are unavoidable tasks that it’s safe to say most people don’t enjoy. Tax time can be especially daunting for small business owners and the self-employed, who must organize their financial information for the year and ensure they have set aside enough money to cover their tax liabilities. A recent survey by FreshBooks found that 80% of American small business owners feel at least some stress at tax time. 60% of respondents chose one or more
Menzies
APRIL 25, 2023
Menzies LLP - A leading chartered accountancy firm. Have you tested the market by completing a few overseas projects or selling through a distributor? Are you now contemplating setting up business abroad? Setting up abroad sounds relatively simple, but what do you need to know before you take the plunge? Expanding business operations in certain countries can be achieved in less than 24 hours, while in other countries the process is timing-consuming and bureaucratic.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
APRIL 24, 2023
Kiplinger Consumer News Service The U.S. Supreme Court is in the news lately because of the controversy surrounding federal court rulings on the medication mifepristone, which is sometimes referred to as an “abortion pill.” But you might not have heard that the Supreme Court is also set to decide whether when a taxpayer owes money, the IRS can obtain bank records from that taxpayer’s relatives — without notice — to help with the agency’s tax collection efforts.
Canopy Accounting
APRIL 26, 2023
What's new: We’re thrilled to announce our first iteration of an integration with Chat GPT. Users can draft new emails or emails as a part of a thread using the generative AI. Information from the thread, names on the contact, and other relevant information can be used or referenced as part of drafting the email (i.e. filling in "Hi Brad" for the introduction based on the email and contact information).
Accounting Insight
APRIL 25, 2023
As someone working in the accounting industry , I know first hand how important it is to keep your finger on the pulse and stay up to date with the latest accounting standards, regulations, and best practices. With the fast-paced nature of the industry and ever-evolving technology, it can be a challenge. That’s where ChatGPT comes in. I’m not one to get excited by every shiny new thing to hit the market but when I explored ChatGPT, albeit with much apprehension, over the weekend, I was qui
RogerRossmeisl
APRIL 25, 2023
Recently, the Financial Crimes Enforcement Network (FinCEN) told U.S. financial institutions to exercise caution when processing paper checks because they might be fake. Paper checks? Didn’t those go the way of the dodo? Jokes aside, electronic transfers have indeed replaced paper checks for many consumer and business payments. Yet paper checks are still used at many businesses and check fraud has been increasing.
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.
CPA Practice
APRIL 26, 2023
With the IRS laser-focused on enforcement, many partnerships will find themselves subject to their first IRS audits under the new procedurally complex partnership audit rules. Under these rules, the default is that the partnership pays an entity-level tax called an “imputed underpayment” (IU) on any adjustments. This means, unless certain steps are taken, the current partners would bear the tax even if they weren’t partners for the year under audit.
BurklandAssociates
APRIL 26, 2023
Important SaaS KPIs like ARR and LTV:CAC often won’t get you far with debt-based lenders. The post Critical Metrics for SaaS Startups Pursuing a Loan appeared first on Burkland.
TaxConnex
APRIL 25, 2023
We are excited to announce that we have won the Best of Accounting Award for providing superior service to their clients. ClearlyRated's Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of 2023 Best of Accounting winners are more than 1.7 times as likely to be satisfied than those who work with non-winning firms.
RogerRossmeisl
APRIL 25, 2023
When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a return as a head of household is more favorable than filing as a single taxpayer. For example, the 2023 standard deduction for a single taxpayer is $13,850 while it’s $20,800 for a head of household taxpayer.
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.
CPA Practice
APRIL 28, 2023
By Nick Hawkins, Inc. (TNS) For the past two decades, tipped employees have had the responsibility of reporting their tips to the IRS. Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. There are a number of voluntary programs designed to encourage compliance by tipped employees but, you know.
BurklandAssociates
APRIL 26, 2023
Important SaaS KPIs like ARR and LTV:CAC often won’t get you far with debt-based lenders. The post Pursuing a Loan for Your SaaS Startup? Know Your Cash & Recognized Revenue appeared first on Burkland.
Going Concern
APRIL 27, 2023
We’ve used that PwC Chad image way too many times recently so have this AI-generated fantasy forest instead. It wasn’t that long ago that Big 4 accounting firms were cagey about staff playing around with ChatGPT on company equipment, consumed by the fear of sensitive client information being fed into the AI black hole. But then they got over it and both PwC and KPMG proudly announced proprietary AI tools, leading the way in what will no doubt be a transformative time for professional
RogerRossmeisl
APRIL 24, 2023
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the reasons why. A big benefit of an S corporation over a partnership is that as S corporation shareholders, you won’t be personally liable for corporate debts. In order to receive this protection, it’s important that: The corporation be adequately financed, The existence of the corporation as a separate enti
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.
CPA Practice
APRIL 25, 2023
Academics from 187 universities wanted to know how an AI chatbot would do on accounting exams. Recently, Open AI’s newest chatbot, GPT-4, which uses machine learning to generate natural language text, passed the bar exam with a score in the 90th percentile, passed 13 of 15 AP exams, and nearly got a perfect score on the GRE Verbal test, according to the folks at OpenAI.
Xero
APRIL 27, 2023
The Xero Responsible Data Use Advisory Council recently held its seventh meeting, with a focus on the extraordinary developments in the field of generative AI, and the myriad potential applications for small business. The council is made up of myself, Laura Jackson of Popcorn Shed (business owner), Maribel Lopez of Lopez Research (technology analyst), Wyndi and Eli Tagi of WE Mana (advisors), Aaron Wittman of XBert (app developer), Anna Johnston of Salinger Privacy (privacy compliance speciali
Going Concern
APRIL 26, 2023
Blockworks has written about activity on LinkedIn and Google Jobs suggesting “that Deloitte is on the prowl for crypto natives to join its ranks.” A LinkedIn search shows 331 crypto-y roles at Deloitte, almost all of them posted last week. Blockworks’ job hunter says the other Big 4 — you know who they are — show zero. How can that be, with EY’s affection for blockchain?
RogerRossmeisl
APRIL 24, 2023
Business valuation experts will usually provide formal written reports that explain how they arrived at their conclusions. Asking seven questions can help you determine whether an expert’s report is comprehensive and on-point. (1) Did the expert properly define the engagement? Most valuation reports start with a detailed description of the assignment.
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.
CPA Practice
APRIL 27, 2023
By Julio Gonzales. [ Read Part II.] What’s one of the biggest challenges that small businesses face? Lack of funding. Loans are an option, but they’re not always easy to attain. In fact, large banks only approve 25% of Small Business Association (SBA) loans. Many of your clients are likely in need of funds for their businesses, and they may have overlooked one valuable source of funding – grants.
Xero
APRIL 26, 2023
The driving force for many small business owners when choosing to start their own businesses is to improve their lifestyle, but how does small business owner wellbeing actually fare? That’s what we set out to find out in our new report released today: The global state of small business owner wellbeing. Wellbeing gets a lot of attention, with no shortage of articles and reports telling us how we should be better balancing our lives.
Going Concern
APRIL 28, 2023
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. News The leak that puts a multibillion-dollar industry at risk [ Sydney Morning Herald ] A foolish attempt to help multinational companies avoid paying tax in Australia has spectacularly backfired on the multibillion-dol
RogerRossmeisl
APRIL 24, 2023
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway. Filing requirements The annual gift tax exclusion has increased in 2023 to $17,000 but was $16,000 for 2022.
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.
CPA Practice
APRIL 26, 2023
By Saum Mathur. Accurate financial forecasts create predictability in business and help inform more agile decision making. Incorporating AI into financial forecasting can help provide stability and adaptability to a company during uncertain times. With current unstable market dynamics and inflation on the rise, businesses must become proactive to deliver strong financial performance.
Xero
APRIL 27, 2023
The annual Xero Awards is a particularly special night for us at Xero. It’s a chance for us to show our appreciation and admiration to the many incredible accounting, bookkeeping, and app partners in our community. This year’s awards evening, which took place at Ministry Venues, Elephant & Castle, showcased the achievements of the “rockstars” of the accounting world.
Going Concern
APRIL 25, 2023
If you happen to pursuing the internet today and see the exciting headline about NASBA increasing the time you have to pass the CPA exam from 18 months to 30 months , there is a bit of critical information you need that you might miss if you don’t read the article: current exam candidates remain under existing rules until, if and when, the board to which they applied makes changes.
RogerRossmeisl
APRIL 24, 2023
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second 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. April 18 If you’re a calendar-year corporation, file a 2022 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any
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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