Basis 365
SEPTEMBER 12, 2023
Accounting may not be the topic of choice for new or growing businesses. However, good accounting will keep the business going and ready for the future. With a strong accounting department, a business can survive. Making the right decisions as an owner or manager will help a business succeed. Here are five everyday decisions for growing and new businesses.
Accounting Today
SEPTEMBER 13, 2023
Not looking out for insider threats can cost a company dearly.
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Ryan Lazanis
SEPTEMBER 13, 2023
As I shared numerous times before, I love the idea of presenting clients with Gold, Silver, and Bronze options for personal tax preparation services. However, in this episode, our focus will be on highlighting some of the additional features you can provide and discussing how to present them, rather than demonstrating how to bundle them together. Listen Below. 0:51 – Out of all the services I offer, standalone personal tax preparation services are probably the ones I like the least.
Airbase
SEPTEMBER 14, 2023
Your single source of truth needs good data to live up to its title. As companies increasingly rely on transaction software to handle certain operations outside of the ERP, strong integrations from these systems to the ERP are essential for efficient and accurate ledger bookings. However, finance teams are inevitably plagued by errors as data fails to flow accurately, completely, or from one system to another.
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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be
Xero
SEPTEMBER 13, 2023
We are pleased to share the key findings from our study of the accounting and bookkeeping sector. This report involved engaging with over 600 accounting and bookkeeping professionals practising across the UK, from sole practitioners to large practices. Despite global economic uncertainty and rising inflation, this sector has shown remarkable growth and resilience.
Insightful Accountant
SEPTEMBER 11, 2023
In the second track from 'Future Forward September 2023,' K2 Enterprises' Randy Johnston demystifies AI and unveil its practical applications, transforming it from theory into a hands-on tool. Sign up here.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
SEPTEMBER 11, 2023
The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.
Shay CPA
SEPTEMBER 13, 2023
When your tech startup is young and scrappy, people wear a lot of hats. In fact, in its early days, you might have even overseen the company’s finances. As you grow, though, you want to bring in people with the required expertise to continue scaling successfully. And when it comes to your company’s financial function, that means bringing in people with a specific background, like a controller and a chief financial officer (CFO).
CPA Practice
SEPTEMBER 11, 2023
By Joy Taylor, Kiplinger Consumer News Service (TNS) More people each year pay this pesky tax: The 3.8% surtax on net investment income (NII). The tax, which was enacted as part of Obamacare, applies to single filers with modified adjusted gross incomes (AGIs) above $200,000 and to joint filers with modified AGIs over $250,000. The income threshold is $125,000 for married people filing separately.
RogerRossmeisl
SEPTEMBER 14, 2023
As appearing in IRS IR-2023-169 To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Tax Credit (ERTC) processing amid surge of questionable claims Concerns from tax pros, aggressive marketing to ineligible applicants highlights unacceptable risk to businesses and the tax system Moratorium on processing of new claims through year’s end will allow IRS to add more safeguards to prevent future abuse, protect businesses from predatory tactics; IRS working with Justice
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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.
TaxConnex
SEPTEMBER 14, 2023
Are subscriptions taxable? Depends on what they’re for and where they’re delivered. Over the past few years, subscription box services, for instance, have exploded in popularity as buyers have signed up for regular delivery of everything from food, makeup, music, books, pet supplies, flowers, clothes and more. This industry has ridden the wave of eCommerce to join long-established subscription markets for publications and memberships.
BurklandAssociates
SEPTEMBER 11, 2023
Startups should invest their excess capital with the objective of earning market-based returns on near risk-free instruments. The post Low-Risk Investment Instruments for Venture-Backed Startups appeared first on Burkland.
MyIRSRelief
SEPTEMBER 15, 2023
1. What is an IRS bank levy? An IRS bank levy is a legal action taken by the Internal Revenue Service (IRS) to collect unpaid taxes. When the IRS levies your bank account, they freeze the funds in it and eventually withdraw the amount owed to satisfy your tax debt. 2. Why would the IRS levy my bank account? The IRS may levy your bank account for various reasons, including: a.
Airbase
SEPTEMBER 15, 2023
Unicorn companies all have different origin stories, but most growth paths share a similar landscape, one that is covered with obstacles and navigated at a breakneck pace — straining people, processes, and systems. Things get done reactively, with ad hoc procedures developed to keep moving. Even after reaching unicorn status, the resulting chaos isn’t sustainable, can easily lead to burnout, and may not support continued growth.
Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius
4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor
TaxConnex
SEPTEMBER 12, 2023
TaxConnex is excited to announce that we have launched a new app for Shopify users to easily pull data out of Shopify for a better returns filing process. The new app, eConnex, gives Shopify users a simple way to get their sales tax data out of Shopify and upload it into TaxConnex's Client Connexion for easy returns filing. As an outsourced sales tax department for businesses with a sales tax obligation, TaxConnex removes the burden of sales and use tax returns filing by completely managing it
SMBAccountant
SEPTEMBER 11, 2023
Purchasing is an important function for any size business, whether large or small, because it has a direct impact on costcontrol, efficient operations, quality, and vendor relationships. Failure to follow best practices when purchasing goods and services can expose a small business to compliance violations, cash flow problems and missed savings opportunities.
CPA Practice
SEPTEMBER 12, 2023
Big 4 accounting firm Deloitte and Bitwave, an enterprise accounting platform for digital assets, have announced a strategic alliance that brings together Bitwave’s software platform with Deloitte’s accounting, tax and governance, risk and controls advisory services, to help deliver speed and process efficiencies, cost savings and compliance enhancements to businesses that utilize digital assets.
Going Concern
SEPTEMBER 11, 2023
Deloitte Australia’s 1,000 or so partners gathered in Adelaide at the end of August and according to Sydney Morning Herald reporting ahead of the totally-business-and-not-pleasure gathering, it was absolutely in no way whatsoever a party. Per Deloitte themselves. Consulting giant Deloitte is holding a big partner bash from Thursday, flying in more than 1000 partners and nearly booking out a couple of five-star hotels in town.
Speaker: Chandra McCormack, CPA, MBA, NACD.DC
Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.
Withum
SEPTEMBER 14, 2023
The IRS continues to pound the table with its most recent press release on employee retention credit (ERC) claims. On September 14, 2023, the IRS announced a moratorium on processing new ERC claims until at least 2024. It wants to “protect against fraud but also to protect the businesses from facing penalties or interest payments stemming from bad claims pushed by promoters.
Accounting Today
SEPTEMBER 11, 2023
The Internal Revenue Service will need to tread carefully with how it uses AI amid growing questions about the reliability of the technology.
CPA Practice
SEPTEMBER 12, 2023
By Paul S. Hamann. As many of us in the accounting profession have learned over the years, and especially in the current environment of talent scarcity, structuring a high-performing team in your firm is no easy feat. Whether you have worked to build an engaging and effective culture or not, your practice has a culture. I know from my experience in building companies over the years, each part of the culture-building process needs to be intentional if you want your culture to positively contribut
Going Concern
SEPTEMBER 15, 2023
Chattanooga Times Free Press has written quite the story about legacy accounting firm Croft & Frost abruptly laying everyone off earlier this week after months of issues making payroll. Thanks to the tipsters who sent this over because holy s**t. CTFP: Several emails obtained by the Chattanooga Times Free Press show a period stretching between late May to the present in which the company was continually failing to pay employees on time, even as its CEO Jonathan Frost and other leaders assure
Speaker: Joe Sharpe and James Carlson
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
Withum
SEPTEMBER 11, 2023
It’s that time of year when extended pass-through business returns are being finalized, and owners are beginning to receive their K-1s. If you are one of those owners, have you ever looked at your K-1? Do you know what information is being provided to you? To move forward on explaining your K-1, we first must take a step back. Businesses that are structured as LLCs (that haven’t elected C status), partnerships or S corporations are all considered pass-through entities.
Accounting Today
SEPTEMBER 13, 2023
The American Institute of CPAs is teaming up with other groups to help accountants cope with natural disasters, as well as learn more about the environmental, social and governance area.
CPA Practice
SEPTEMBER 14, 2023
A rash of bogus employee retention credit (ERC) claims in recent months has prompted the IRS to put the program on hold through at least Dec. 31. IRS Commissioner Danny Werfel ordered the immediate moratorium today and said the agency “could no longer tolerate growing evidence of questionable claims pouring in.” “The IRS is increasingly alarmed about honest small business owners being scammed by unscrupulous actors,” he said in a press release.
Going Concern
SEPTEMBER 14, 2023
The IRS announced today that it has issued an immediate moratorium on processing new employee retention credit claims at least through the end of the year. The agency cited “rising concerns about a flood of improper Employee Retention Credit claims,” driven by “aggressive promoters,” as the reason for closing the door on ERC claims.
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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.
Insightful Accountant
SEPTEMBER 11, 2023
Murph is prone to repeating himself these days. That's especially so when it comes to important clues, like "don't miss training opportunities" for Top 100 2024.
Accounting Today
SEPTEMBER 13, 2023
The Securities and Exchange Commission has proposed upgrading the EDGAR system to, among other things, shift from a per-company login system to a per-individual one.
CPA Practice
SEPTEMBER 14, 2023
Bloomberg Tax & Accounting released its 2024 Projected U.S. Tax Rates, which indicates inflation adjusted amounts in the tax code will increase 5.4% from 2023. While this is a slight decrease from the 7.1% increase in 2023, it is nearly double the 2022 increase of 3%. The full report is available at: [link]. [See projected tax bracket tables below.
Going Concern
SEPTEMBER 14, 2023
As we all know, EY had a tough year. Mostly due to their own choices, choices that led to the professional services equivalent of a wet fart. Despite the proposed audit and consulting split falling apart and leaving a $500 million dollar hole in the firm’s pocket, they still had “one of the most successful years in the history of the organization with record global revenues and continued significant growth.” EY has announced combined global revenues of $49.4 billion for the fin
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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.
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