Sat.Nov 12, 2022 - Fri.Nov 18, 2022

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Accountant Busy Season: 5 Survival Tips for Accounting Busy Season

Snyder

Christmas cheer is just around the corner, but where does the other strange feeling come from? Ah, yes. Tax season. The first four months of every calendar year are the time when accountants are at their busiest. From January to April, there are few things that accountants do besides tax filing. This is what makes busy seasons so stressful for accountants.

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Fraud’s New Frontier: NFTs

RogerRossmeisl

When new technologies emerge, it can take time for the general public to learn how they work. Non-fungible tokens, or NFTs, first appeared in 2014, yet many people are still confused about what they are and how to buy and store them. This gives criminals who understand the technology an advantage. In addition to money laundering, tax evasion and terrorist funding, NFTs are being used to commit fraud and steal from unsuspecting asset buyers.

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2022 Year-End Tax Planning Checklist

Withum

Single. DEDUCTION AMOUNT: $12,950. Married Filing Jointly. DEDUCTION AMOUNT: $25,900. Head of Household. DEDUCTION AMOUNT: $19,400. 2022 Tax Brackets and Rates. Taxable Income Over. Rate Single Married Filing Jointly Head of Household 10% $0 $0 $0 12% $10,275 $20,550 $14,650 22% $41,775 $83,550 $55,900 24% $89,075 $178,150 $89,050 32% $170,050 $340,100 $170,050 35% $215,950 $431,900 $215,950 37% $539,900 $647,850 $539,900. 2022 Long-Term Capital Gains Tax Bracket.

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Five Ways to Incorporate Profitability Into Your Practice

Going Concern

It’s official, we have reached the exciting future 1950s sci-fi magazines promised us. We have all the world’s knowledge in a tiny device that fits in our pockets, can get just about anything delivered in two hours or less, and nowadays you don’t even need your hand to open a glove box anymore, just your voice. We don’t have flying cars but we do have conveniences unimaginable to our ancestors.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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.

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Don’t let Black Friday blind you to sales tax obligations

TaxConnex

Holiday shopping season is here again – and eCommerce looks to be bigger than ever. But retailers looking forward to perhaps record online sales have to remember how to comply with widely divergent sales tax regulations. Online sales this season are not expected to increase as much as in previous years, but a healthy increase is anticipated (overall retail sales are expected to grow just 7% compared to 15.4% last year).

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Worried About an IRS Audit? Prepare in Advance

RogerRossmeisl

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received additional funding in the Inflation Reduction Act to improve customer service, upgrade technology and increase audits of high-income taxpayers.

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7 Ways to Speed Up and Automate Accounts Receivable Communications

Lockstep

In today’s fast-paced, competitive business environment, it’s more important than ever to optimize your accounts receivable (AR) processes. One way to do this is by leveraging automated customer communications as part of your broader accounts receivable automation strategy. Automated communications can help you speed up the collections process and connect with more customers faster.

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The Collapse of FTX

Withum

The past week has been one of the most eye-opening weeks in the history of the cryptocurrency industry, with one of the largest digital asset exchanges in the world filing for bankruptcy on Friday, November 11. How did this happen so quickly? Here is a high-level overview of the fact pattern: On Sunday, November 6, a significant holder of FTX’s native token, FTT, threatened to sell all of their FTT tokens, which created widespread panic, driving the price of FTT down significantly and leading cu

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When a Valuation Professional Finds Fraud

RogerRossmeisl

Imagine you’ve got your eye on a business that seems like an attractive investment or acquisition target. It boasts strong earnings, competitive growth estimates and a clean balance sheet. But this business has a secret: fraud. And fraud can dramatically change the prospects — and value — of a company. That’s why, when conducting business appraisals, valuation professionals keep their eyes peeled for signs that fraud is occurring or could easily occur.

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Accountants aid clients struggling with inflation

Accounting Today

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

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FTX Scandal: Fact vs. Fiction

BurklandAssociates

The FTX scandal and crypto winter will help differentiate crypto startups with scalable solutions, proper compliance, and financial discipline. The post FTX Scandal: Fact vs. Fiction appeared first on Burkland.

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1099 Filing Season is Upon Us – What You Need to Know

Withum

Form 1099 season is quickly approaching, and now is the time to check the boxes and make sure your business is ready for a quick and painless filing in January. 1099’s report non-employee compensation to vendors who provide services such as independent contracting, consulting, attorney services, rents, royalties, commissions and much more. Does Your Business Have to File 1099-MISC and/or 1099-NEC?

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Finding Comparable Transactions to Use in Business Valuation

RogerRossmeisl

The market approach is an intuitive way to value a private business interest. It bases the subject company’s value on sales of other similar businesses or business interests, which are commonly referred to as “guideline transactions” or “comparables.” Each business is unique, so identifying an exact match is impossible. 2 methods The following two primary valuation methods fall under the market approach umbrella: Guideline public company method.

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FTX users can't count on help from the IRS

Accounting Today

Tax 129
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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

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.

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Someone Looked Up Audit Senior Salary Ranges at the Top 25 Firms to Catch Them Breaking the New NYC Pay Transparency Law

Going Concern

A week ago, u/DoritosDewItRight visited the websites of the top 25 public accounting firms to find out if they’d listed reasonable salary ranges for open positions, as required by a new law effective November 1 that requires employers in New York City — or employers of employees who will perform their work in New York City — to list a salary range on all posted job ads, promotions, and transfer opportunities.

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IRS Grants a “Do Over” to a Taxpayer Engaging in a Qualified Rollover

Withum

The IRS recently released a private letter ruling (PLR 202244004 (August 9, 2022)) that grants additional time to a taxpayer that failed to timely elect to defer the gain from a rollover of qualified small business stock (QSBS). The IRS’s decision to grant late-filing relief in this context is not that surprising or ground-breaking, but it does highlight an important tax strategy that we are starting to see with increasing frequency.

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Investing in the Future with a 529 Education Plan

RogerRossmeisl

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code section that provides for them, allow prepayment of higher education costs on a tax-favored basis. There are two types of programs: Prepaid plans, which allow you to buy tuition credits or certificates at present tuition rates, even though the beneficiary (child) won’t be starting college f

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Audit partners expect to see inflation ease in 2023

Accounting Today

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8 Pillars of Leadership Development

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.

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The Guy Who Saw Enron Through Bankruptcy Calls FTX the Worst He’s Ever Seen

Going Concern

If you aren’t familiar with him, John J. Ray III oversaw Enron’s liquidation many years back and now he’s stuck with the monumental task of unraveling FTX after the crypto exchange collapsed last week. @jonwu_ dug through FTX’s Chapter 11 First Day Affidavit so you don’t have to and in it, Mr. Ray has given a scathing review of the company’s operations that make Nigerian princes look like genius masterminds of advanced financial malfeasance.

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It’s time small businesses get the support they need to thrive

Xero

Today, we presented our “ Small business. Big opportunity ” manifesto to the UK Government. In this report, we’ve made some crucial recommendations to deliver meaningful policy support to small businesses – the backbone of our economy. . At Xero, we understand the challenges our small business customers and accounting and bookkeeping partners face. And I’ve met many of you who’ve told me your worries.

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In 2023, the Social Security Wage Base is Increasing

RogerRossmeisl

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Basics about Social Security The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed workers.

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KPMG finds hybrid work helps with DEI efforts

Accounting Today

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

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.

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Xero Bank Accounts, Bank Feeds and New Bank Partnership

Intuitive Accountant

Murph is going to 'Xero' in on setting-up bank accounts, bank feeds and even Xero's new Bank Partnership in this how-to article. Look for more of Murph's Xero features in the coming weeks and months.

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Changes are coming to auto super in Xero Payroll: What you need to know

Xero

From late November 2022, we’re introducing a new safety measure for automatic superannuation (auto super) payments within Xero Payroll. This requirement will see new and existing customers connect an active bank feed to their registered auto super account. . Why? With this added layer of protection, we’re working to provide a safer way for you to process these payments to your employees.

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Preventing “Privileged User” Fraud and Abuse

RogerRossmeisl

In most companies, employees need a user identity to access work-related hardware and software. Privileges to use certain applications or open certain files usually are provided to workers based on their department, role and level of authority. Over their tenure, employees might accumulate various privileges they no longer need. For example, someone who once worked in accounting might retain the ability to make journal entries even after transferring to the legal department.

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Election aftermath: Compromise or deadlock

Accounting Today

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

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.

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The Next Generation of Wisely® by ADP is Here

Intuitive Accountant

The new enhanced digital financial wellness options will help workers better manage their financial lives, and give employers a hiring and retention advantage.

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Xero establishes a technology base in India

Xero

I’m excited to share that we’re establishing a Xero base in India, where there is deep technical talent, to enhance our existing hiring and development programs for technology roles. . Through a strategic partnership with Infosys , a global digital services and consulting company, we’re setting up a Xero-managed centre of technical talent at an Infosys campus in India. .

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Adopting a Child? Bring Home a Tax Break Too

RogerRossmeisl

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up to $14,890 of “qualified adoption expenses” for each child. This will increase to $15,950 in 2023. That’s a dollar-for-dollar reduction of tax. Also, adoptive parents may be able to exclude from gross income up to $14,890 in 2022 ($15,950 in 2023) of qualified expenses paid by an employer under an adoption assistance program.

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Get back your passion for your firm

Accounting Today

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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

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.