Snyder
NOVEMBER 14, 2022
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.
RogerRossmeisl
NOVEMBER 13, 2022
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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Withum
NOVEMBER 17, 2022
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.
Going Concern
NOVEMBER 17, 2022
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.
Advertiser: Paycor
Choosing an HCM partner is one of the most important decisions you’ll make because time is one of your company’s most strategic assets. How do you want to spend your time?
TaxConnex
NOVEMBER 17, 2022
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).
RogerRossmeisl
NOVEMBER 13, 2022
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.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Lockstep
NOVEMBER 16, 2022
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.
Withum
NOVEMBER 15, 2022
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
RogerRossmeisl
NOVEMBER 13, 2022
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.
BurklandAssociates
NOVEMBER 16, 2022
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.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Ready to automate the month-end close process but don't know where to start? We got you covered. Join us in this informative webinar where we will walk you through the main consideration areas when it comes to evaluating and selecting a month-end close solution. We will cover everything from sponsor champion identification, vendor evaluation, pitfalls during contracting, IT requirements, termination considerations, and more.
Intuitive Accountant
NOVEMBER 15, 2022
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.
Withum
NOVEMBER 17, 2022
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?
RogerRossmeisl
NOVEMBER 13, 2022
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.
Xero
NOVEMBER 16, 2022
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.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Intuitive Accountant
NOVEMBER 17, 2022
AuditClub addresses the CPA talent shortage with the launch of a program that will help students gain audit experience, Accelerate CPA licensure and advance career progression.
Withum
NOVEMBER 14, 2022
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.
RogerRossmeisl
NOVEMBER 13, 2022
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
Anders CPA
NOVEMBER 18, 2022
We’re wrapping up our 2022?Not-for-Profits in the Know webinar series?designed to educate and empower community leaders to further their missions. With organizations still bouncing back from the pandemic, our last webinar of the year will focus on what your not-for-profit needs to know going into 2023 to start the new year on solid financial ground.
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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.
Intuitive Accountant
NOVEMBER 16, 2022
The new enhanced digital financial wellness options will help workers better manage their financial lives, and give employers a hiring and retention advantage.
Withum
NOVEMBER 15, 2022
Forty-six million people have IRAs, and 60 million workers participate in 401k retirement plans, yet the tax laws are unwieldy, complicated and unfair. Congress and the IRS, through inattention or inaction, have let the rules and requirements get out of hand. This program will tell you 12 things you must know about these accounts. This is not a program on why you should participate, but how to not get hurt when you participate.
RogerRossmeisl
NOVEMBER 13, 2022
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.
ThomsonReuters
NOVEMBER 17, 2022
QUESTION: Does our company have to pay for employees’ health coverage while they are on FMLA leave? ANSWER: Your company does not have to pay your employees’ share of health coverage premiums while they are on FMLA leave. However, employers covered by the FMLA (generally, private-sector employers with 50 or more employees and public agencies and local educational agencies with any number of employees) must maintain coverage under any group health plan for the duration of an FMLA leave at the l
Advertiser: Paycor
Why are HR leaders so important to business success? Because leaders across the organization, from the C-suite to frontline managers, disproportionately affect employee engagement. It goes back to the old saying: “A boss has the title, but a leader has the people.” Learn more and discover the 3 steps to driving loyalty and engagement: The true power of intentional coaching The secret to optimizing performance The best ways to reward employees & retain top talent Don't miss out, download now!
Canopy Accounting
NOVEMBER 17, 2022
Don’t look now, but the end of the year is almost here. Parties, family get-togethers, ski vacations no doubt. Oh, and don’t forget about reaching your yearly CPE and CE credits amount.
Withum
NOVEMBER 15, 2022
Withum is proud to share that the Los Angeles Business Journal has recognized Chris Passmore , partner-in-charge of the Encino office, and Aza Ghazaryan , tax partner, on their Top 100 Accountants list for 2022. Christopher Passmore , CPA, MBA, leads Withum’s Encino office as the partner in charge and specializes in assurance and business consulting services to emerging and middle market companies.
RogerRossmeisl
NOVEMBER 13, 2022
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.
ThomsonReuters
NOVEMBER 17, 2022
IRS Notice 2022-41 (Nov. 8, 2022). Available at [link]. We recently reported on final IRS regulations that change the eligibility standards for an Affordable Care Act (ACA) premium tax credit (PTC) to fix the “family glitch” by providing that, for taxable years beginning after 2022, affordability of employer-sponsored coverage for an employee’s family members is based on the employee’s cost to cover the employee and those family members, rather than the cost of employee-only coverage (see our C
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Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!
IgniteSpot
NOVEMBER 16, 2022
1. Review your business budget. How should you be spending company dollars? Your budget covers expected expenditures for the coming year—or even the quarter ahead—providing a guideline for how to utilize resources. Your CFO is instrumental in assessing your budget, especially as it pertains to reporting and forecasting.
Intuitive Accountant
NOVEMBER 14, 2022
Day 2 of the webinar series kicks off with a panel discussion on profitable accounting miches in the construction, ecommerce and non-profit sectors. Sign up to join Greg Bossen, Kelly Gonsalves and Diane Gilson here.
RogerRossmeisl
NOVEMBER 13, 2022
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.
Basis 365
NOVEMBER 16, 2022
It's 2022, so you probably have an eCommerce channel. However, You may have realized that one channel is insufficient to reach your profit margin goals. Omnichannel presence is crucial for your eCommerce business. It is essential to understand the limitations and perks of each platform, as well as the benefits and advantages they offer for your small business and the customer experience.
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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