Sat.Dec 24, 2022 - Fri.Dec 30, 2022

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Somehow Accounting Ended Up on This List of the Highest-Paying College Majors in 2022

Going Concern

CBS News crunched some Payscale data and by some miracle, accounting ranked #52 on this list of the 60 highest-paying majors. Because we anticipate people might ask for proof of this, we have screenshotted accounting’s entry on said list. Text: Accounting isn’t just accounting anymore. Experts must perform multiple functions at once — and that’s where the accounting and computer systems major comes in.

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How to Become a Freelance Accountant: 9 Tips for Succeeding in Freelance Accounting

Snyder

Freelance accounting is increasing in popularity. With the rise of online platforms like Upwork, Fiverr, and Remote.co, more and more people are working remotely to offer their services to businesses worldwide. This means that nowadays, freelancers have greater opportunities to find work and grow their businesses faster. Even if online accounting is something you’ve done for years, becoming a freelancer may seem tricky to begin with.

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Accounting Controller vs. CFO: Which Does My Business Need?

IgniteSpot

4 Key Differences Between a Controller and a CFO. Repeat after us: Controllers and CFOs are not the same. The two might have occasional overlaps in duties, but they approach your business operations and processes from different perspectives. Think about what makes controllers and CFOs stand apart.

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What happened in sales tax in 2022

TaxConnex

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. The year opened right after the second annual TaxConnex survey. Almost three out of four respondents reported that online sales as a percentage of revenue had increased since 2019 – no doubt fueled by pandemic eCommerce.

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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.

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Art of Accounting: Continuation agreements as a gift for your family

Accounting Today

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IRS Audit Red Flags: How to Avoid Getting Tax Audited by the IRS

Snyder

Many small business owners often feel like they might be a heartbeat away from the IRS tax audit. In fact, according to the IRS data , only about 1 percent of taxpayers are facing an audit. If you’re a small business owner, however, your chances are a bit higher – about 2.5 percent of small businesses are getting tax audited. What’s interesting is that the less income you have, the higher the chance of a tax audit.

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What is a sales tax exemption?

TaxConnex

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. If you determine your products/services are taxable and you have nexus, then you must register, begin charging and collecting sales tax and file and remit returns to all the states and jurisdictions in which you have nexus.

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Is It a Good Idea To Outsource as a Start-Up?

AccountingDepartment

Startup founders and managers rightfully question whether it is prudent to outsource accounting and bookkeeping or keep the work in-house. Chart out the positives and negatives of outsourcing accounting/bookkeeping projects and you’ll find the positives are significantly greater in number.

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Ten questions for Payroll service providers

Basis 365

Small business owners can use payroll services to manage their tax filings and pay their payroll. However, outsourcing to a third-party payroll service provider is better than trying to handle payroll as you grow. It doesn't matter if you outsource for the first or second time. These ten questions will help you choose the right payroll service provider.

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4 Steps to Creating a Successful Agency Marketing System

DuctTapeMarketing

4 Steps to Creating a Successful Agency Marketing System written by John Jantsch read more at Duct Tape Marketing. Running a successful marketing agency is no easy task. It requires careful management of resources, strategic planning, and keeping up with the latest trends and technologies. But, in order to stand out from the competition and make your mark, you need to have a winning marketing system in place.

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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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Listeners’ Favorites: Our Top Startup Success Episodes of 2022

BurklandAssociates

Thank you to all the experts throughout the startup ecosystem who joined our Startup Success podcast in 2022 to share knowledge and insights. The post Listeners’ Favorites: Our Top Startup Success Episodes of 2022 appeared first on Burkland.

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Deloitte’s Latest PCAOB Inspection Report Is Its Worst Since 2017

Going Concern

Uh-oh, this can t’t make Joe U., Lara Abrash, and other Deloitte audit folks happy (bold part added by us for emphasis): In the 2021 inspection of Deloitte & Touche LLP, the PCAOB assessed the firm’s compliance with laws, rules, and professional standards applicable to the audits of public companies. We selected for review 54 audits of issuers with fiscal years generally ending in 2020.

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Getting Ready for Top 100 – Ecosystem Apps & Software

Intuitive Accountant

Murph provides a first look at this year's totally new Formal Application that our qualified nominees will complete on. A big part of being a Top ProAdvisor is helping your client with the ecosystem of products for QuickBooks.

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Are You Ready for 1099-K Reporting in 2023?

Basis 365

Attention businesses: Do you receive customer payments via third-party apps such as PayPal, Zelle, or Venmo for your business? Unfortunately, due to the changes to 1099K reporting, you may have to report more in 2023. The 1099-K threshold will drop to $600 starting in 2022. Unfortunately, this means that many businesses can expect to see a considerable increase in 1099-Ks in 2023.

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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.

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IRS Announces Delay for Implementation of $600 Reporting Threshold for Third-Party Payment Platforms – Form 1099 K

Dent Moses

On December 23, 2022, the Internal Revenue Service announced the delay in the implementation of the new $600 reporting threshold for third-party network’s Forms 1099-K. As a result of this delay, third-party networks will not be required to report 2022 tax year transactions on a Form 1099-K to the IRS or the payee for the new $600 threshold amount.

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EY’s Auditing Has Reverted Back to Being Bad, 2021 PCAOB Inspection Report Shows

Going Concern

Next up on the PCAOB ’s hit list is EY, whose 2021 inspection report was released on Dec. 19. The Black and Yellow had been slowly but surely not screwing up as many audits in recent years. After having a not-great audit deficient rate of 31% in its 2017 inspection report , EY’s error rate had dropped to 26% in its 2018 report , 18% in 2019 , and 15.4% in 2020.

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Natalia Arriaga on Getting Young People into Our Industry

Intuitive Accountant

See what a future accountant professional believes the industry can do to attract young people to the profession. Check out another episode of Accounting Insiders here.

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Types Of Small Business Financing You Need To Know About

xendoo

Small business financing is vital as it can make or break your business. When first starting, there are many factors that you need to consider, such as your business plan and your financing options. When creating your business plan, it should outline your goals and objectives to have a clear idea of how to implement your plan. It’s important to plan ahead so you don’t miss any crucial steps that will bring on more than necessary.

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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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Year-end Closing And Planning For Construction Business Owners

Randal DeHart

The end of the year is typically a reflective time. Something about that lull between holiday festivities and New Year's Eve sets the stage for introspection and review. While you're busy reflecting on the year ending and making plans for the new one about to begin, make sure you take some time to consider your finances. Preparing your End of Financial Year (EOFY) information often feels stressful—there are receipts to sort out and reports to review.

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Do Looks Matter at Big 4 Firms? And If So, Do They Matter at PwC the Most?

Going Concern

Remember forums? The younger folks among us may not but those of us in the 35-55 age bracket likely spent some time in the forums of yore talking about cat care and car parts and whatever other nonsense we now discuss on Reddit like civilized people. I don’t spend much time in forums these days but I found this ancient forum post in my Pocket (the app, not my pants) while digging around for something to write about for this vacation week so let’s discuss.

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IRS Tax Forums: Save the Date

Intuitive Accountant

Earn CE/CFP credits. Hear the latest on tax laws, cybersecurity, ethics, and much more. The "2023 IRS Tax Forums" will be held in-person, so reserve your spot now.

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Making The Most of Client Accounting Services

AccountingDepartment

Business owners and CEOs often wear a lot of hats in their organizations. Accounting and bookkeeping may not be one of their specialties, putting them at risk for lost payments, missed revenue, and preventing the company from growing as it should. Client accounting services (CAS) can help a business owner automate many financial tasks and maximize efficiency and profitability.

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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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The Easiest Way to Implement a New Practice Management Software | Canopy

Canopy Accounting

Hey, I get it. You’re not reading this article for fun. You’re reading because you’re worried about implementing a new practice management software for your accounting firm.

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PwC’s 2021 PCAOB Inspection Report Shows Once Again It Is Less Awful at Auditing Than the Other Big 4 Firms

Going Concern

The 2021 PCAOB inspection report season kicked off right before Christmas with the release of a batch of six big ones: PwC, Deloitte, EY, KPMG, BDO USA, and Grant Thornton. It would be tough for PwC to top its 2020 inspection report as it was nearly blemish-free. Of the 52 audits reviewed by inspectors during that inspection cycle, only one mistake was found —related to the firm’s testing of controls over and substantive testing of revenue and related accounts and inventory—for a deficiency rate

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Latisha Carter on How Xero Tailors Their Product to Fit User Needs

Intuitive Accountant

In another episode of Accounting Insiders, Insightful Accountant Publisher Gary DeHart sits down with Xero's Latisha Carter to discuss all things Xero. Check out the episode here.

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Understanding the corporate tax outsourcing opportunity: What firms need to know

ThomsonReuters

Companies are facing an ever-increasing burden of corporate tax compliance and the pace of complexities shows no sign of slowing. Helping companies ensure compliance by outsourcing for business processes represents a growth opportunity for today’s tax and accounting firms. . “ We ’ re seeing that trend accelerating in the present day really because of all the headwinds that corporations are currently facing, whether that be staffing related or inflationary challenges.

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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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Consulting Or Testifying In Divorce Cases

FraudFiles

A financial professional can fill two distinct roles in family law cases. He or she can be a consultant who provides analysis and opinions privately to the attorney and client.

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Apparently Custom Deloitte Stan Smith Adidas Sneakers Are a Thing

Going Concern

As seen on LinkedIn and Instagram: Deloitte and ServiceNow have a partnership/alliance so that ’s why both brands are on the shoes. Anyone got a pair? Related article: Would You Rock These KPMG Kicks? The post Apparently Custom Deloitte Stan Smith Adidas Sneakers Are a Thing appeared first on Going Concern.

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Internet Explorer 11 Ending Feb. 14, 2023 For Most Windows 10 Users

Intuitive Accountant

The Internet Explorer 11 desktop application is scheduled to be permanently disabled through a Microsoft Edge update on most Windows 10 computers as of Feb. 14, 2023. What does it mean for QuickBooks Desktop?

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Running Restaurants: A Comprehensive Guide to Restaurant Bookkeeping

Snyder

Restaurant bookkeeping can be intimidating even for experienced restaurant owners. There are so many things to keep in mind and so many important reports to maintain (profit and loss statement, daily sales report, cash flow report, balance sheet, and others). Many questions arise about restaurant accounting services, such as what is the difference between restaurant bookkeeping and accounting ?

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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.