Sat.Sep 10, 2022 - Fri.Sep 16, 2022

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Growing Pains: The Top 8 Accounting Issues We See at Startups

BurklandAssociates

Burkland’s Fintech Practice Leads Steven Lord and Smit Shukla share eight accounting gaps and issues to watch out for in the early days of scaling a startup. Startups are inherently Read More. The post Growing Pains: The Top 8 Accounting Issues We See at Startups appeared first on Burkland.

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How to Easily Sell Peace of Mind to Your Clients

Ryan Lazanis

As an accounting firm owner, you should know that one of your main selling points is providing peace of mind to your clients. But how do you make this more tangible for them? In this podcast episode, I’ll give you some tips on how to easily sell “peace of mind” to your clients. Listen Below. 0:59 – Clients say that peace of mind is what they’re looking for from their accounting or bookkeeping firm. 1:39 – I want to show you how you can gain an advantage over y

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Signs It May Be Time For a New Accountant

AccountingDepartment

Hiring your first accountant, whether it be internal or external, for your business is a big step in terms of growth. It provides some further assurance that your company's finances will be kept in check. However, the first accountant or the current accountant that you work with might not be the best accountant or even the best option for your business.

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The Right Document Management System for Your Accounting Firm | Canopy

Canopy Accounting

Your company could be stacked with all kinds of human talent. A whole office building of ambitious, albeit nerdy, accountants with Ivy League universities listed on their resumes.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Been Burned by Outsourcing Before? Let's Talk about It.

GrowthForceBlog

6 min read. Making the decision to enlist an outside company to handle any portion of your business is a big choice and one that should not be taken lightly. With the right outsourced professionals, your business stands to improve leaps and bounds. Selecting the wrong outsourced service provider, however, can cause irreversible damage to your company with inefficient and unorganized systems, poor communication, lowered standards, and unhappy customers.

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KPMG’s ‘Do As We Say Not As We Do’ Tips to Prevent Employee Turnover

Going Concern

KPMG has some sponsored content in Harvard Business Review about how to keep employees from defecting (defecting? Really? It’s a job, not the Sandinistas) and in it, the firm offers some suggestions to encourage employee loyalty. Suggestions that they themselves would be wise to implement should KPMG want to hang on to their own people (there may or may not be a mass exodus underway at KPMG , according to Going Concern archives this has been going on at least since we were founded in 2009)

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But Who’s Counting? Episode 12: Should Businesses Consider Accepting Cryptocurrency?

Anders CPA

Some of the largest companies are now accepting bitcoin and other cryptocurrencies as payment, but how and when will this impact small and mid-size businesses? In this segment of But Who’s Counting?, David E. Hartley sits down with Anders tax partner and cryptocurrency guru Derek A. Barnard to dive into what investors and businesses need to know before they get involved with crypto, including: Clearly defining blockchain and cryptocurrency Tax implications of bitcoin and other cryptocurren

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How to Conduct an Audit in Your Small Business

Patriot Software

A nerve-wracking visit from the IRS isn’t the only type of audit out there. There are several audits you can—and should—conduct regularly. And to do that, you need to know how to conduct an audit. Read on to learn: What is an audit? The types of audits Why performing an audit is important How to […] READ MORE.

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2022 tax planning after the Inflation Reduction Act

Accounting Today

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Colorado: Fee or tax?

TaxConnex

Remote retail sales just got rockier in Colorado, which has begun imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Wholesale sales or sales of exempt goods are not subject to the fee.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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IRS Notice of Deficiency – Help Rights &Options

MyIRSRelief

Receiving an IRS Notice of Deficiency, also known as a “90-day letter,” is a serious matter that requires prompt attention. If you receive this notice, it means that the IRS has determined that you owe additional taxes and that you have 90 days to either pay the amount in full or file a petition with the U.S. Tax Court. If you need tax representation, call us at 1-877-78-TAXES [1-877-788-2937].

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Dealer Vision: Volume VII

Withum

End Summer on a high note by diving into these exciting articles written by Michael Mulhearn , Michele D’Antonio , Robert Campbell and first-time writer, Joseph Polanco. We will discuss if trade-ins are eligible for a sales tax credit, how to protect your dealership from fraud, the automotive industry in the metaverse and privacy and safeguarding customer information.

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Audit Partners and MDs Work Much, Much Harder Than Everyone Else at PwC

Going Concern

Saw this in PwC’s 2022 Audit Quality Report and wanted to get the peanut gallery’s opinion on this math: My first thought is imagine how much worse these numbers would be if you people didn’t eat as many hours as you do. Though judging by this, you’re getting much better at it. Thoughts? Concerns? Outrage? Have at it in the comments.

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How not to tank your sales tax audit (part 1)

TaxConnex

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. Rightly so: Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. But as usually happens in business, you can take steps to protect yourself and, in fact, not make the situation worse.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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4 Accounting Tips to Run a Profitable Professional Services Company

Basis 365

It doesn't matter if you run a marketing agency or a management consulting firm when it comes to managing a profitable consultancy business. It is only half of the job to provide your consulting services. In addition, your business must send accurate invoices to clients and collect payments promptly. For a service-based business to be profitable, it is essential to track time and invoicing accurately.

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Making Sense of a Wacky Stock Market 

Withum

Yesterday (September 13), the Dow Jones Industrial Average opened up about 375 points and closed down 1276 points or a loss for the day of 3.9%. The S&P 500 index was down 4.3%, and NASDAQ down 5.2%. These are big losses, yet all three indexes are up for the prior three-month period. Stock prices go up and down, and this is a continuous situation.

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What Is Surprise Billing IDR?

ThomsonReuters

QUESTION: We’ve heard that group health plan claims for certain services must be resolved under federal IDR rules. What is IDR, and what claims does it apply to? ANSWER: The No Surprises Act (included in the Consolidated Appropriations Act, 2021 (CAA)) protects individuals from surprise bills for certain out-of-network services (see our Checkpoint article ), and establishes an independent dispute resolution (IDR) process under which out-of-network providers and health plans may resolve disput

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TAX PLANNING 101: Busting the Myth that Tax Planning is Only for the Rich! Part 1

CTP

By now, everyone has figured out that America’s wealthy and elite are not always avoiding taxes through illegal means. There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. 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 vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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What Is Mileage Reimbursement, and How Does it Work?

Patriot Software

As a business owner, running errands is inevitable. But sometimes, you are too busy to make the run yourself. You might send an employee to pick up something or handle a task for you. If you find yourself counting on employees to use their personal cars for business, consider offering mileage reimbursement. So, what is […] READ MORE.

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Taking Aggressive Tax Positions in Light of the Expected IRS Hiring Binge

Withum

Thanks to the Inflation Reduction Act the IRS is hiring thousands of new field agents and examiners. Before this new funding, taxpayers of all stripes and income brackets enjoyed a period of very low audit rates due to the IRS’s shrinking workforce, which further exacerbated the audit statistics. As a result, the chances of getting audited became about the same as the odds of winning the Power Ball lottery.

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Equifax Verification – A QuickBooks Desktop 2023 Feature

Intuitive Accountant

New for 2023, QuickBooks has partnered with Equifax to automate employment and income verification. No data is shared unless the employee specifically makes a request. Employers also can opt out of this service.

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Listicle of the Day: The Accounting Firms on Fortune’s 25 Best Large Workplaces in Consulting and Professional Services

Going Concern

Yikes that headline was a mouthful, sorry about that. Anyway, Fortune has released its 25 Best Large Workplaces in Consulting and Professional Services list and you might be surprised to learn that only one Big 4 firm cleared the top ten. Actually you might not be surprised by that at all once you learn the methodology : To determine the Best Workplaces in Consulting & Professional Services list, Fortune partnered with people analytics company Great Place to Work who analyzed the survey resp

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Creating an Unlimited PTO Policy

Patriot Software

Offering paid time off (PTO) is a benefit many small business owners extend to employees. Although the Fair Labor Standards Act (FLSA) does not typically require PTO, many business owners provide paid vacation and personal days. And, some employers may even offer unlimited PTO policies. Have you considered creating an unlimited PTO policy for your […] READ MORE.

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Make Giving a Habit With Daffy

Withum

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Make Giving a Habit With Daffy appeared first on Withum.

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Diane Gilson on Being Insightful Accountant's 2022 ProAdvisor of the Year.

Intuitive Accountant

Kelly Gonsalves caught up with Diane Gilson during Scaling New Heights 2022 to discuss her business and what being Insightful Accountant's 2022 ProAdvisor of the Year means to her.

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Construction Company Employee Compensation And A Note On Taxes

Randal DeHart

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. When paying employees, laws and the IRS have made the payroll function a time-consuming nightmare for the small business owner.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Are You Correctly Calculating Overtime for Tipped Employees?

Patriot Software

One major blunder small business owners make is not paying their tipped employees the correct wages. And when it comes to you paying tipped employees overtime, things can get a little more complicated. So, are you using the correct overtime rate for your employees who receive tips? Read on to learn the right way to […] READ MORE.

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How to Effectively Integrate an Accounting Controller into Your Finance Team

IgniteSpot

3 Steps to Integrate a Qualified Accounting Controller. You can’t throw a controller partner into the pool and ask them to swim. While they are absolute rock stars at their jobs, even the best controllers need to get acquainted with how your business operates in order to help it succeed.

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Making the Business Case for AP Automation

Intuitive Accountant

For a variety of reasons, it can be difficult to convince some executives to make the investment in AP automation. MineralTree COO Elizabeth Kowal explains how to make it happen.

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Sales Tax Issues for Online Retailers

Withum

It is no surprise that states are seeing significant growth in sales tax revenue, a trend fueled by changes in consumer spending during the pandemic. According to a report issued by the National Association of State Budget Officers, median sales tax revenue grew by more than 9% in fiscal 2021, which ended June 30th, and state revenues increased by 12.8%.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.