Ryan Lazanis

FEBRUARY 15, 2023

Looking for ways to reduce workload while increasing your firm’s capacity? In this episode, I’ll discuss 2 steps you can take to strategically grow your business while reducing work hours and getting the most out of your capacity. Listen Below. 0:33 – The question I got from social media is relevant to a lot of firm owners: How can busy firm owners find time to work on improving their business and reaching their goals while running the firm?

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account accountant accounted 52

Basis 365

FEBRUARY 15, 2023

A business requires accurate, clean books that are updated at least monthly. You have two options to achieve this goal: hire a professional or have a year-end accounting firm handle your bookkeeping. It's OK to ask an outsourced accountant for help with your daily books. Before we get into the reasons, let's first look at how the duties of accountants and bookkeepers differ.

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tax accountant bookkeeping tax account 97

ThomsonReuters

FEBRUARY 13, 2023

In an era of staffing shortages, accounting firms must increasingly look outside the box to fill gaps in talent. If you find yourself in this position, it may be time to welcome your newest staff member: automation. Historically, accounting firms have dedicated junior staff to handle manual data entry tasks and labor-intensive workflow processes.

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accounting firms tax tax return account 59

Shay CPA

FEBRUARY 15, 2023

The start of a new year always feels fresh. You’re looking ahead and probably getting excited about everything your startup will accomplish in 2023. Don’t forget to look behind you, though. Even as you vision-cast for the year ahead, you need to wrap up the year behind you. Don’t shoot the messenger: it’s time to do your taxes. Yes, you technically have until April 18.

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Advertiser: Paycor

All hourly workers want similar things, but when it comes to recruiting & retention, it helps to understand personal motivations. Download Paycor’s guide to learn how to find & keep the 5 types of hourly workers.

Insightful Accountant

FEBRUARY 12, 2023

According to a recent Canopy study, 79% of accountants lose time looking for files. Canopy's Jonathan Timothy explains.

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accounting firms account accountant accounted 52

Going Concern

FEBRUARY 13, 2023

When we talk about why no one wants to be an accountant anymore, a handful of things come up in every thread. Let’s quickly get them down in case an alien who just landed on Earth this morning Googles “accountant shortage,” arrives on this article, and wishes to learn more about the causes. Salaries — starting salaries in particular — that do not compete with other white collar and professional services fields; Poor work-life balance that has only gotten worse as st

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cpa account accountant accounted 115

RitaKeller

FEBRUARY 15, 2023

“Be a voice not an echo.” – Albert Einstein If you are building a career in the CPA firm world, never hesitate to speak up. Many new staffers are uncomfortable saying what is on their minds. The firm’s leadership wants to hear your ideas and comments. I bet you have been in a staff meeting and had an idea or comment. You lean over and tell the person sitting next to you.

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cpa firm cpa 45

Generate Accounting

FEBRUARY 15, 2023

Recently we posted some thoughts on proactive steps business owners can take when faced with a challenging economy. The article set out some activities that owners should prioritise. We thought it might be a good idea to have a look at each of those initiatives in more depth. The first thing that we know from research is that owners need to really understand their numbers and work with an accountant regularly to ensure that they take steps early to avoid or reduce the impact of challenges.

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tax account accountant accounted 59

Mark Lee

FEBRUARY 14, 2023

Over the years, my conversations with sole practitioner accountants reveal that many are “happy enough” once their practice is generating sufficient income for them. They have reached the stage where they feel comfortable, some might say, complacent. ‘Happy enough’ is hardly an enthusiastic summation of how things are going as it can imply a reluctant acceptance of the status quo.

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tax return tax account accountant 52

RogerRossmeisl

FEBRUARY 15, 2023

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years. SECURE 2.0 is meant to build on the original SECURE Act, which was signed into law in 2019.

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.

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BurklandAssociates

FEBRUARY 14, 2023

When viewed unemotionally with the company’s best interests in mind, a down round may be the best way to get fresh capital in the door. The post Founders: Is It Time to Consider a Down Round? appeared first on Burkland.

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TaxConnex

FEBRUARY 16, 2023

Think you’re the only one worried about sales tax compliance? According to our third annual Sales Tax Market Survey you’re not. “Our company is highly acquisitive and this results in lack of consistency when it comes to billing, accounting and reporting,” said one survey respondent. “Increasingly, I am finding the people who ‘know’ the products and classified them for tax coding purposes long before I arrived do not understand the importance of the little details that can make a huge difference

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Acterys

FEBRUARY 14, 2023

Selecting the right inventory planning solution is critical for efficient supply chain management. As the amount of data increases, organizations want to invest in a complete planning solution that can connect to multiple data sources, extract, and optimize data models, and offer accurate demand forecasts that can help manage optimal inventory levels.

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RogerRossmeisl

FEBRUARY 17, 2023

Are you worried your business won’t receive what a liquidating creditor owes it? In most cases, liquidating companies come by their financially distressed situations honestly. But there’s always a chance that a debtor has made fraudulent transfers or taken other steps to hide assets from creditors. A solvency expert can help you and your legal counsel determine whether a liquidating business is capable of meeting its interest and repayment obligations.

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Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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BurklandAssociates

FEBRUARY 14, 2023

Reference this handy checklist to understand pay transparency compliance requirements and avoid fines at your startup. The post Avoid Fines: The Pay Transparency Checklist appeared first on Burkland.

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TaxConnex

FEBRUARY 14, 2023

Candy, flowers, diamonds, romantic dinners out or a movie snuggled on the couch: The year’s biggest day for dates looms again, and here’s an update on sales tax considerations for Valentine’s Day. Expected spending on gifts this year should average $192.80, up almost 10% from last year, according to the National Retail Foundation. Once again, the top shopping destination to purchase Valentine’s Day gifts is online (35%), closely followed by department stores (34%) and discount stores (31%).

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CPA Practice

FEBRUARY 14, 2023

A taxpayer who deducted expenses attributable to the business use of his vehicles took a wrong turn before the Tax Court. Ultimately, he wasn’t able to back up his claims (Eze, TC Memo 2022-83, 8/4/22). Generally, you can deduct costs relating to the business use of your vehicle, subject to certain rules and limits. However, you must meet strict substantiation requirements spelled out by the IRS.

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RogerRossmeisl

FEBRUARY 14, 2023

Historical financial results are only relevant in a valuation to the extent that the business expects to achieve similar results in the coming years. When projecting future economic benefits, it’s important to consider expected changes to a subject company’s internal and external conditions. Challenging the status quo The last three to five years of financial statements are usually on the list of documents experts use to value a business.

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Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

Spend Management

Insightful Accountant

FEBRUARY 14, 2023

The new tier will enable accountants to get all their QuickBooks transaction questions resolved from their clients quickly and easily—and the subscription is free.

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quickbooks account accountant accounted 122

Going Concern

FEBRUARY 15, 2023

Earlier this month, short seller Hindenburg Research dropped a report called Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History (report here ) full of bullet points outlining the findings of Hindenburg’s two-year investigation into the Indian conglomerate. Among the various accusations: shoddy controls, nepotism, questionable shell company relations, and poor transparency (we’re being mild here).

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audit auditor accounting firms account 107

CPA Practice

FEBRUARY 15, 2023

By Rachel Blakely-Gray. The new W-4 form for 2023 is now available. Unlike the big W-4 form shakeup of 2020, there aren’t significant changes to the new form. But that doesn’t mean you shouldn’t familiarize yourself with it. You may not file Form W-4 with the IRS, but your payroll depends on it. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax.

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Xero

FEBRUARY 12, 2023

The retirement of old reports is now only a little over five months away. If you’re like many small business owners and advisors, you’re probably starting to seriously think about how this will impact your day-to-day work. We’ve answered some of your most common questions, so you can feel confident about switching to new reports before 31 July 2023.

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tax return tax account accountant 104

Advertiser: Paycor

Discover the power of AI in recruitment with Paycor’s complete guide. Learn how to streamline your hiring process, increase interview pipeline, uncover candidates other tools miss, and save time. Get ready to revolutionize your talent acquisition strategy today!

Insightful Accountant

FEBRUARY 16, 2023

Murph brings you up to date on the vision that is the QuickBooks Business Network. While it's not fully capable yet, it's getting there, and appears to be heading in the right direction.

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quickbooks 111

Going Concern

FEBRUARY 17, 2023

It was only a couple days ago that the Journal of Accountancy published an interview with NASBA CEO and President Ken Bishop in which Bishop sternly warns states against even thinking about lowering the CPA licensure requirement to 120 units, something something mobility blah blah. To save you a click, here’s a relevant snip of that JofA article and his comments, published February 10: “Should any state or jurisdiction lower the licensure requirement to 120 hours, their CPAs would no longe

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CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.

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income tax Rhode Island South Carolina tax 131

Nancy McClelland, LLC

FEBRUARY 17, 2023

I’m very proud to again be partnering with the National Society of Accountants for Cooperatives (NSAC) to offer an entertaining and educational upcoming webinar, “ Hippie Co-ops? Expanding Your Co-op Expertise to Other Cooperative Niches “, on Tuesday, February 21, 2023, at 2 PM ET/1 PM CT/ 12 PM MT/ 11 AM PT. The focus of this webinar is to teach existing accountants who are already familiar with co-op accounting about the similarities and differences between the types of clie

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Speaker: Raul Perez, VP and CFO of Lancaster Leaf

Lancaster Leaf Tobacco Co Inc. is a subsidiary of Universal Corporation, the leading global leaf tobacco supplier. Lancaster Leaf supplies virtually all the major cigar manufacturers in the U.S. with filler, binder, and wrapper, and exports filler, binder, and wrapper to international cigar manufacturers. This all could mean a complicated month-end close - before automation.

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Insightful Accountant

FEBRUARY 15, 2023

Xero is continually updating and upgrading its accounting platform to provide an enhanced look and feel, improved accessibility and faster features. Here are some of its recent and in-progress enhancements.

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Going Concern

FEBRUARY 15, 2023

Article photo from a scathing review of KPMG’s metaverse space Alright folks, the moment we’ve been saying wasn’t going to happen to us now has: layoffs are here. Bet you feel dumb for saying firms won’t be laying anyone off because they don’t have enough people to lay off eh? I know I do. We’ve been informed that layoffs began today in KPMG’s advisory practice, less than 2% of the workforce has been axed.

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CPA Practice

FEBRUARY 13, 2023

Do you want your team to feel empowered and motivated? It starts with establishing a solid foundation of an employee-first culture. When employees feel valued, respected, and supported by leadership, your firm builds and sustains trust in its talent. This kind of atmosphere leads to increased job satisfaction for every team member in the firm and has far-reaching impacts on productivity, morale and collaboration—all key elements that drive success.

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Withum

FEBRUARY 16, 2023

The cornerstone of Withum’s success and its greatest asset has always been the talented individuals that make up its teams. Cigna recognized Withum with the Gold Level Healthy Workforce Designation, highlighting how the Firm prioritizes health and well-being for its team members through a workplace wellness program. Withum is proud to be at the forefront of exceptional benefits that support team members’ health and wellness journeys.

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Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

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