Sat.May 14, 2022 - Fri.May 20, 2022

States with local economic nexus - a review

TaxConnex

Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them.

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Do Valuation Discounts Apply to Compulsory Shareholder Buyouts?

RogerRossmeisl

Valuation discounts for lack of control and marketability are major points of contention when companies or controlling shareholders are required to buy out shareholders who own minority interests.

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Tax season wasn’t as bad as some expected: Survey

Accounting Today

Tax preparers IRS Tax Tax season

tax 101

Lockstep® Announces World’s First Shared Inbox Designed for Accounting

Lockstep

Patent-pending Email and Accounting Software Integration Revolutionizes and Streamlines Payments and Month-end Closing Workflows.

5 Pain Points Every Small to Medium-Sized Accounting Firm Experiences

These are the top 5 pain points that come up over and over again when we talk to small to medium-sized accounting firms. Let's break each one down and talk about solutions!

Trends: Are sourcing rules changing (and making anything easier)?

TaxConnex

“Sourcing” or as we often call it, situsing, is key when you determine sales tax obligations: It refers to the location where a sale is taxed.

Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits

RogerRossmeisl

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled.

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More Trending

What is Lockstep® Inbox?

Lockstep

Lockstep is pleased to announce our latest offering, Lockstep® Inbox. Revolutionizing accounting, Lockstep Inbox creates an shared inbox where accounting teams professionals can work better with customers and vendors.

Critical Series A Finance Metrics for SaaS Startups

BurklandAssociates

SaaS startups need strong metrics for Series A funding that demonstrate traction, growth, profitability, and efficiency. The post Critical Series A Finance Metrics for SaaS Startups appeared first on Burkland. CFO Insights Financial Modeling Fundraising SaaS

The Ins and Outs of IRAs

RogerRossmeisl

Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview.

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The IRS Is Paying an Unwelcome Visit to Alliantgroup (NEW UPDATES)

Going Concern

[UPDATE 5] Not sure if this is pertinent as to why the FBI and IRS raided Alliantgroup’s offices in Houston this morning, but one Alliantgroup employee who contacted us earlier today said the firm’s billing practices are unfair to its clients: For most clients there is a 35% fee cap for our services.

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Cyber Security, Change Management and Enterprise Risk Management: Scaling Operations for Growth

Speaker: William Hord, Vice President of Risk Management and Compliance

Join us as we discuss the various tangents of data and the change management process that will help you make better risk-based business decisions to save time and money for your organization.

National Accounting Day 2022

Lockstep

This week, we are celebrating the success of our wonderful customers, because accounting teams are the backbone of every business. Even more so, without the organization and fortitude of the accounts receivable (AR) teams, cash flow would be a “cash trickle.” .

IRS audit rates plummet, especially for wealthy

Accounting Today

Tax audits GAO IRS Tax Tax evasion

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Fully Deduct Business Meals This Year

RogerRossmeisl

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021).

The PCAOB Ain’t Messing Around No More

Going Concern

After getting rid of the boil on its butt (that boil being ex-chairman William Duhnke ) last June, the PCAOB seems to be feeling pretty good now under the leadership of Erica Williams. And that’s bad news for audit firms.

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How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

Through a detailed analysis of major attacks and their consequences, Karl Camilleri, Cloud Services Product Manager at phoenixNAP, will discuss the state of ransomware and future predictions, as well as provide best practices for attack prevention and recovery.

IRS Raises Interest Rates for Q3 2022

CPA Practice

5% for overpayments (4% in the case of a corporation). for the portion of a corporate overpayment exceeding $10,000. 5% for underpayments. 7% for large corporate underpayments.

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New AICPA chair pledges to 'open doors, broaden horizons'

Accounting Today

Diversity and equality AICPA

Tax Implications of Selling Mutual Fund Shares

RogerRossmeisl

If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020.

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Are You Future-Ready? Learn How to Get There at This PICPA Event

Going Concern

For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast.

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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 speeding up the month-end close and better managing your remote teams.

FP&A Hindsight is 20/20: What Lessons Can We Learn?

Anders CPA

If we’re discussing hindsight in business, let’s use a particularly early example. Pretend you own a business transporting goods by horse and carriage. You’re focused on finding a way to make your horses run faster or further. If you can figure that out, you’ll increase business.

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Democrats urge IRS to boost drivers’ 58.5-cent mileage deduction

Accounting Today

Inflation IRS Tax Tax deductions

5 Ways to Foil a “Fraud Department” Scam

RogerRossmeisl

When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to preventing fraud, especially in the case of wire and automated clearing house transactions.

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Guy Blames Failing the CPA Exam on Why His Clients Got Busted for Bank Fraud and Tax Evasion

Going Concern

Hanlon’s razor states “never attribute to malice that which is adequately explained by stupidity.” ” Meaning most of the time when someone does something bad, it’s not because they’re a bad person, rather too stupid to know better. Or something.

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How to Write OKRs: 45 Effective Examples

Many companies are embracing objectives and key results (OKRs) as the best practice for committing to goals and following through. Objectives are outcomes that reflect current company priorities. Each employee should write OKRs that roll up to larger company goals.

The Three Golden Rules of Accounting You Should Always Follow

Patriot Software

You might have heard of the Golden Rule in life: Treat others as you want to be treated. But, did you know that there’s also a golden rule for accounting? In fact, there are three golden rules of accounting.

IRS increases interest rates for Q3

Accounting Today

Inflation Interest rates IRS Tax

What Is Compensation? | Employer Guide

Patriot Software

If you have employees, you need to compensate them. So, you set an hourly rate or salary. But, you might also give other types of wages to your employees. And if you do, you need to know if those other wages count as compensation.

How 2022 Global Consumer Trends Could Impact Your Firm | Canopy

Canopy Accounting

Times have changed these past few years, haven’t they? There have been so many differences around the world, not only in our personal lives, but in our professional lives as well.

Live Demo: Supercharge Your Month-End Close

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

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 processes can help you reach the next level of closing.

And Just Like That, It’s Time to Change Sole Proprietorship to LLC. Here’s How to Do It

Patriot Software

Did you structure your business as a sole proprietorship? Do you want to move beyond your sole proprietorship status? If your business structure just isn’t cutting it, one of your options is to change sole proprietorship to LLC. And here’s the thing—you’re not alone.

KPMG Audit Kickstart CPA program will pay new hires to study

Accounting Today

Accounting education Continuing education CPA Exam KPMG

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Job Rotation Program: Pass or Play?

Patriot Software

Some employees can be hard to hold onto. Employees, particularly millennials, want more opportunities to learn, grow, and advance their careers. In fact, job development is so important that 87% of millennials want it.

Marketing for Accountants: The Top 19 Strategies

Ryan Lazanis

If you’re looking for the best marketing for accountants’ strategies, you’ve come to the right place. In this post, I’m going to outline 18 of the top strategies working well right now to help you attract clients.

Airbase Presents: Off the Ledger LIVE! — Small Teams. Big Impact.

Speaker: Panel Speakers

Airbase invites you to virtually join our inaugural one-day conference inspired by, and in support of, Off the Ledger — a Slack community of over 3,300 finance and accounting professionals. Learn how your finance teams, big or small, can have the greatest impact.