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Another day, another article purporting to offer the solution to the precipitous drop in accounting talent over the past several years that doesn’t involve paying people more. “Young people” have been blamed for talent shortages long before an actual shortage existed, what with all their job-hopping and demanding employers accept that they have a life outside of work.
We live in a time where the "best" accounting practices change daily. Keeping track of all the changes in the industry between updates and tech can be overwhelming. Today, most accountants feel that traditional accounting isn't enough to remain competitive. Now, getting accounting leads and finding ways to stay ahead of everyone else is critical to remaining relevant.
My advice here re building and promoting your firm’s brand is controversial. And of course there will be some exceptions. But I would urge you to consider whether YOUR firm really is one of those exceptions. Think about ten top accountancy brands. Or at least the ones you can remember. How many of those do you think a typical client of YOUR firm would be able to name – or would even recognise?
In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
By Sean M. Duncan, CPA Congratulations! You’ve decided it’s time to dive in and give advisory services a go in your practice! You’ve done the hard work of deciding what services you are going to offer, who you want to target, and even have a plan on how to roll it all out. Whether you have done this through a formal training program such as my Chief Proactive Advisor Master Class or on your own, you are ready to rock!
Menzies LLP - A leading chartered accountancy firm. This period of high inflation, ever-increasing costs and future uncertainty is showing how essential it is for businesses to manage their cash. Whilst it is challenging to forecast what is going to happen with costs going forward, attempts to forecast incomings and outgoings are vital to ensure an unmanageable deficit does not creep up on businesses.
From banking to accounting services , technology continues to transform and streamline operations throughout the financial industry. Whether you’re looking for virtual outsourced CFO services or software that can scale with your business, there’s a tech to meet your needs.
From banking to accounting services , technology continues to transform and streamline operations throughout the financial industry. Whether you’re looking for virtual outsourced CFO services or software that can scale with your business, there’s a tech to meet your needs.
By Michael Grothaus, Fast Company (TNS) Credit card debt in America has reached staggering new levels, according to a report from the Federal Reserve Bank of New York’s Center for Microeconomic Data. In its Quarterly Report on Household Debt and Credit, the New York Fed found that in the fourth quarter, credit card balances rose by $61 billion, meaning total outstanding credit card debt held by Americans reached $986 billion.
Sales tax compliance is riddled with risk. Failure to comply with the applicable sales tax rules can have a devastating effect on a business, but they’re often overlooked because they’re considered “pass-through” as the business is responsible for collecting the applicable taxes which pass through the business and are subsequently turned over or paid to the states.
As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) in on the page entitled California Severe Winter Storms, Flooding, Lan
We all know the story: women and minorities are underrepresented in top finance and accounting roles, and even though their representation has grown, a yawning gap persists within senior positions and salaries. Today, only 15% of Fortune 500 company CFOs are women, and women earn between 12% and 45% less than their male counterparts in many accounting and finance roles.
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.
Fresh start – tax forgiveness program – as advertised on radio, TV, internet Taxation can be a complicated and stressful matter, particularly when it comes to tax levies and liens. If you are facing a tax issue, it is important to understand your rights and how to navigate the complex tax system. In this comprehensive FAQ, we will explore the ins and outs of tax levies and liens, and how Mike Habib, EA a tax relief professional can help you resolve your tax issues.
“Services” are generally not subject to sales tax while tangible personal property generally is subject to sales tax. This over simplification can get you sideways in various states as there are lots of exceptions to these general rules. Kentucky is the latest in terms of taxing specific services. The Bluegrass State looks to expand sales tax on what it calls high-growth services.
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your business from home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income. There are two methods for claiming this tax break: the actual expense method and the simplified method.
EBITDA provides an accurate overall financial performance picture and helps investors understand their potential returns. The post EBITDA: A Metric Every Startup Founder Should Know appeared first on Burkland.
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.
The act of planning is a crucial component in any business approach, and companies frequently allocate ample time and resources to establish efficient plans. Nevertheless, traditional approaches to Extended Planning and Analysis (xP&A) can prove to be arduous and consume a lot of time, particularly for individuals who want to gain business insights without depending on IT support.
Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 24. The deadline already had been postponed to May 15 for these areas. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) in these three states.
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until this year’s April 18 filing deadline and benefit from the tax savings on your 2022 return. Rules for eligibility You can make a deductible contribution to a traditional IRA if: You (and your spouse) aren’t an active participant in an employer-sponsored retire
I’m starting to get this question more and more from do-it-yourself types hoping to save money. If computers can beat a world chess champion, they argue, why can’t they perform as good as or better than my local tax advisor? We’ll explore this issue in more detail below, but the short answer is no, artificial intelligence is not at the point where it can analyze tax issues and reliably produce accurate responses.
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.
Having happily offered services to crypto clients since 2014, Armanino very nearly marked ten years in the crypto space until the catastrophic collapse of crypto exchange FTX in November 2022 forced them to part ways with crypto clients seeking assurance, FTX being one of them. As a reminder, here’s what happened in December : Armanino is ending its crypto audit practice and dropping clients, two sources familiar with the matter say.
By Molly Crane-Newman, New York Daily News (TNS) The former head of engineering at Sam Bankman-Fried’s bankrupt cryptocurrency trading firm FTX owned up to fraud charges on Tuesday, federal prosecutors said. Nishad Singh, 27, pleaded guilty in Manhattan Federal Court to wire fraud, conspiracy to commit commodities fraud, conspiracy to commit money laundering, conspiracy to make unlawful political contributions and defraud the Federal Election Commission, and other related charges.
Revenue Ruling 59-60 is a landmark piece of IRS guidance that outlines the factors to consider when estimating the fair market value of a private business. Here’s an overview of those factors, along with other hidden details found in the ruling’s fine print. 8-factor approach Revenue Ruling 59-60 says that business valuation is an inexact science, often resulting in “wide differences of opinion” about the value of a particular business interest.
Over the past few days, the IRS has issued several updates regarding tax relief for victims of severe winter storms, flooding, landslides, and mudslides. The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. What Items Are Now Extended Until October 16, 2023?
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.
Despite the fantastic work that accountants and bookkeepers do, the industry has an image problem. There’s still an old-fashioned perception, with little understanding of how you support small businesses and the wider economy. We know from our recent research – Five biggest hurdles hindering accountants – that recruitment is a key hurdle you face, and this misconception among the candidate pool isn’t helping.
Just 49% of American workers know about a tax credit that may help them save for retirement and lower their tax bill, according to survey findings from nonprofit Transamerica Center for Retirement Studies (TCRS). The Saver’s Credit, also referred to as the Retirement Savings Contributions Credit by the IRS, is available to millions of eligible taxpayers who are saving for retirement.
In case you didn’t notice because who cares, Baker Tilly has engaged the help of filmmaker and adventurer Jimmy Chin and teenage tennis star Coco Gauff to brighten up the Baker Tilly name and recruit the youfs to this exciting accounting firm. Said Coco Gauff at gunpoint in a press release about the partnership: “I am excited to partner with Baker Tilly, a dynamic organization who, like me, dreams big and thinks bold.
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.
I’m delighted to announce that Xero has partnered with Parolla , to offer Xero accounting and bookkeeping partners and small business customers a free VAT solution, enabling you to easily prepare and generate revenue-compliant VAT3 returns for direct upload to Revenue Online Services (ROS). Introducing the EMEA Xero team I’m Ayman, Head of EMEA (Europe, Middle East and Africa) and I want to personally introduce myself and my team to let you know we are committed to you and all our customers and
By Leada Gore, al.com (TNS) The end of pandemic-era stimulus programs is having an impact on tax refunds. IRS statistics for the week ending Feb. 17 show the average tax refund is $3,140, down 11.2%, or $396, from last year. The decline is in keeping with previous IRS alerts that said people could see “significantly smaller refunds,” this year. “Refunds may be smaller in 2023.
We know accounting can be a tough field full of numbers and serious work. And sometimes, that work can be taxing (pun intended.) But seriously, we all experience problems with clients, coworkers and bosses. Once in awhile, it's a good idea to poke fun at your job and have a laugh. With that in mind, take a look at these 20 hilarious accounting memes and see which ones you relate to the most.
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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