Sat.May 21, 2022 - Fri.May 27, 2022

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Multi-channel selling sales tax: Direct/retail sales

TaxConnex

Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. Nearly half the attendees of a recent TaxConnex webinar on multi-channel selling use direct/retail eCommerce as their main avenue of sales.

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Tax Issues to Assess When Converting From a C to an S Corporation

RogerRossmeisl

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a decision to switch. Here’s a quick rundown of the most important issues to consider when converting from a C corporation to an S corporation: Built-in gains tax Although S corporations generally aren’t subject to tax, those

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Trending Sources

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Are declining MSP revenues a profitability or a technical debt problem?

Accountant Advocate Submitted Articles

Decreasing MSP profits may be due to technical debt which can be resolved by improving service delivery and eliminating costly clients.

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Deloitte: Climate change will cost $178T by 2070

Accounting Today

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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Multi-channel selling sales tax: Wholesalers and Drop Shipping

TaxConnex

Sales of tangible personal property (TPP) are presumed to be taxable unless specifically identified as not taxable. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example.

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Keep Cybercriminals from Stealing Your Business’s Brand

RogerRossmeisl

When criminals steal an individual’s identity, the victim can take steps to minimize potential damage by, for example, notifying credit agencies and freezing bank accounts. But what happens if a cybercrook steals a company’s identity and uses it to engage in fraud? This situation can be more complicated — and expensive — to resolve. Fraudsters who use your business’s digital assets for their benefit are known as brandjackers.

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AICPA names 2022 Outstanding Young CPAs

Accounting Today

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Our New TechCrunch Article on Remote Work Laws & Tax Guidelines for Startups

BurklandAssociates

Burkland’s Managing Director, Tax Practice, Ardy Esmaeili, CPA contributed an article to TechCrunch this month; Starting up remotely? Keep these labor laws and tax guidelines in mind. Our team has Read More. The post Our New TechCrunch Article on Remote Work Laws & Tax Guidelines for Startups appeared first on Burkland.

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Issues to Consider After Your File Your Tax Return

RogerRossmeisl

The tax filing deadline for 2021 has passed. Now that your tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations: 1. You can throw some tax records away now You should hang onto tax records related to your return for as long as the IRS can audit your return or assess additional taxes.

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The Growing Need for Cannabis Business Valuations

Withum

As the legalization at the state level continues to increase, the need for business valuation is increasing. The reasons for business valuations are varied and include the following: Transactional, which might include the acquisition of an existing business or the buy-in or buy-out of an ownership interest. Planning, which might include gifting and succession planning opportunities.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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IRS raids alliantgroup offices

Accounting Today

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Former and Current Alliantgroup Employees Speak Out About ‘Evil, Toxic, Emotionally Damaging Company’

Going Concern

One thing I have learned since finding out about the IRS and the FBI conducting a court-ordered raid of Alliantgroup’s Houston offices last Friday morning is that there are A LOT of horror stories from ex-Ag employees about their experience working at the management and tax consulting firm. If you have the time, check out these threads, posted after the raid went down, on Fishbowl , r/Houston , and from a former Alliantgroup employee on Twitter.

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Three tips for a better balance between work and mental health

Xero

We know that mental wellbeing is vitally important, but for small business owners, striking a balance between work and mental health can feel almost impossible. . The past two years in particular have thrown up a previously unseen level of disruption and turmoil for small businesses. From the pandemic, to soaring inflation and energy prices, it’s no surprise that finding the time to invest in mental wellbeing is proving challenging. .

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Drivers of Stock Market Values

Withum

Stock market volatility has become a daily reality. Why, how and whether you invest in the stock market is your business. What I usually try to do is provide some information on suggested ways to consider stock market investing, and that is what I will be doing now. There are many things that affect the value of stocks — too many to sensibly grasp and use to determine what stocks to buy, so I suggest simplifying your decisions by investing through mutual funds.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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IRS sent over $800M in potentially improper recovery rebate payments

Accounting Today

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It’s Official, the Only Way to Get a Decent Raise is by Leaving Your Firm

Going Concern

As public accountants pull the ripcord and bail out from their firms in droves for the greener grass of industry, government, and even the blissful quiet of unemployment so they can figure out what they really want to do with their lives there’s a lot of talk about the abandoned workloads being dumped on the fools loyal grunts who remain. Associates are doing senior work, seniors are involuntarily impersonating managers without manager pay , blah blah, none of this is news to any of you.

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What Happens If Nobody Wants to Work?

Intuitive Accountant

As people continue to return to office life, Basis 365 Accounting's Rhett Molitor examines what happens when calls for hybrid and remote options take hold.

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New Supply Chain Risk: West Coast Dockworkers

Withum

The critical supply chain for so many sectors has been severely disrupted due to the COVID-19 pandemic (including severe restrictions in China) and the Ukraine conflict. On top of these events, there may be more shipping delays with the West Coast Dockworkers’ contract expiring on June 30, 2022. This workforce covers more than 22,000 dockworkers at 29 ports ranging from Washington State to Southern California; and provides a primary gateway for goods shipped from Asia to the United States.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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IRS upgrades 'Where’s My Refund' tool to track refunds for two years

Accounting Today

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AccountingDepartment.com Attends VETS'22

AccountingDepartment

Last week, AccountingDepartment.com Business Development Representative, Luke Backus, attended the Veteran Entrepreneur Training Symposium 2022 (VETS'22) in Orlando, Florida.

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The #1 Strategy to Eliminate Scope Creep

Ryan Lazanis

In this podcast episode, I shared my #1 strategy to combat scope creep and tips on how you can create a system to eliminate it in your firm. Listen below. 1:08 – Scope creep can cause disagreements with clients if you try to charge for out-of-scope work. 1: 30 – To eliminate scope creep, you should define the boundaries of your deliverables and ensure that your client understands them. 2:00 – A well-defined scope becomes extremely important because it helps protect the profitab

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Jim Hannan Named ROI-NJ Influencer for Manufacturing in 2022

Withum

Withum is proud to share that Jim Hannan , Partner and Practice Leader for Manufacturing, Distribution & Logistics , was recognized by ROI-NJ as a top influencer for 2022. Jim has over 30 years of experience in the industry, specializing in public offerings, SEC filings, international financial reporting standards and mergers and acquisitions. He oversees the MD&L Group at the Firm and has additional industry expertise in Wholesale Distribution Services , Life Sciences and Cannabis Secto

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Finance leaders preparing for tax changes

Accounting Today

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Insightful Accountant's Top 100 ProAdvisors for 2022

Intuitive Accountant

Insightful Accountant is proud to announce the 2022 Top 100 ProAdvisor Award recipients.

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Go Through This Termination Checklist Before Bidding an Employee Adieu

Patriot Software

Here’s a number for you: 47.2%. That was the 2021 annual total separation rate (aka the number of total separations as a percent of annual average employment). And here’s one more number for you: 4,258,000. That’s the number of employees who quit their jobs in January 2022. Quits are happening in businesses nationwide like there’s […] READ MORE.

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Helping you win new business with beautiful quotes

Xero

Sending a quote is often the first digital interaction you have with a potential customer, so it’s important to make the right impression. We’ve made it easy in Xero – you can create a beautiful online quote in minutes, get customers to accept it on the spot, and quickly convert it into an invoice. To continue improving your experience, we’re introducing an exciting new feature and fresh design to quotes in Xero.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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IRS changes guidance on EITC

Accounting Today

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Social Media for Accountants: 7 Reasons Why + 11 Tips How

Ryan Lazanis

You may be wondering if social media for accountants is a good marketing tool for your firm. The answer is yes! There are many reasons why accountants should use social media to market their firms. In this blog post, I will discuss the seven reasons why having a social media presence is important. I will also give you 11 tips on how to use social media for your accounting firm’s marketing efforts.

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Current Crypto Wash Sale Rules

Withum

If you’re an investor in cryptocurrency, you understand the current market has not been friendly. Most cryptocurrencies are currently down over 50% from their all-time highs. The term diamond handing is the belief that one should hold onto an asset that is currently losing value – and gets thrown around a lot during bear and bull markets. It is important to understand the current cryptocurrency rules that can provide a tax advantage to those who wish to continually hold their assets.

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Missouri Bill Reintroduces R&D Tax Credit and Changes to State and Local Tax Treatment and MO Works Program

Anders CPA

A Missouri bill, HB 2400, could affect businesses across the state with several provisions impacting the R&D tax credit, Missouri Works program, the State and Local Tax Parity Act and more. The bill was recently voted on and now heads to Governor Parson’s desk for signature. New Missouri R&D Tax Credit. While Missouri offers a sales tax exemption for research and development (R&D) purchases made within the state, Missouri has been without a state R&D tax credit since the program

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.