Sat.Jan 21, 2023 - Fri.Jan 27, 2023

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Abolish Income Taxes? Idea Gains Some Traction in Congress

CPA Practice

By Mark Ballard, The Advocate, Baton Rouge, La. TNS) Seeming to come out of left field, President Joe Biden last week blasted Republicans for pushing legislation that would abolish federal income taxes and the IRS then replace those revenues with a 30% or so national sales tax. “It

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Role of Accounting in Customer Experience

Lockstep

Accounting is often thought of as a purely financial discipline, but its role in customer experience (CX) and providing customer delight should not be underestimated. In today’s competitive landscape, businesses need to go above and beyond to win customers over and keep them coming back.

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Overcoming the Five Stages of Lease Accounting Grief

Going Concern

When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules 1 , accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!”

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Step Away From The Books with Outsourced Bookkeeping

Accounting Department

From a business owner's standpoint, the thought of handing off an entire area of your business for someone else to take care of may seem a bit nerve-wracking.

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The CPA Firm Growth Strategy: From Compliance to Consulting

Speaker: Rita Keller - President of Keller Advisors, LLC

Join Rita Keller, seasoned CPA firm management strategist and consultant, for an insightful discussion on the importance of diversifying your accounting skills.

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Developing Your Accounting Firm’s Plan

CTP

What are your accounting goals? Many firms want to grow and expand. However, other businesses want to focus on: Increasing profit margins Boosting net profit Growing revenue At the same time, owners often find themselves stressed because they don’t maintain a healthy work-life balance.

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How to take advantage of ’10-Year Averaging’ in New Retirement Tax Rules

CPA Practice

At the end of December, 2022, Congress passed sweeping legislation affecting participants in qualified retirement plans, like 401(k) plans, and IRAs.

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More Trending

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10 tips for changing accounting or ERP systems

Menzies

Menzies LLP - A leading chartered accountancy firm. As your business grows there will become a point in time where you need to upgrade your accounting and/or ERP systems to improve your reporting capability and insight to enable you to make smarter business decisions.

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Benefits of Recurring Invoices or How to Automate Your Accounting With Recurring Invoicing

Snyder

Steady cash flow is what supports your business in a very literal sense. Driving those numbers upwards should be applied not only at the sales and marketing level but the accounting level too.

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What to Do When Your Business Runs Out of Money (Besides Panic)

Patriot Software

Cash flow problems happen—often. It’s why 82% of small businesses fail. But if you have issues with your cash flow, you’re not doomed to close up shop. Instead, it’s like coming to a fork in the road. Turn right to power through, or turn left to call it quits.

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What was new in December for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Crystal ball time.

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.

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Lockstep Inbox Product Updates 01.24.23

Lockstep

The Lockstep Team is excited to share some of the latest updates to the world’s first shared inbox designed for accounting, Lockstep Inbox.

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If This Person Can Pass the CPA Exam, So Can You

Going Concern

I was cleaning out pics on my phone and was reminded of something I saw on Reddit a few weeks back: a screenshot of someone’s many, many, MANY CPA exam attempts over twelve years. Most people would have given up around the tenth attempt but this person persisted. And persisted. And persisted.

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Seven Tips To Help Your Construction Business Adjust For Inflation

Randal DeHart

Inflation has ballooned worldwide in recent months, and there's no question that small construction businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. This can lead to operating at a loss - spending more money than you make.

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Why Your Nonprofit Should Be Conducting Risk Assessments

GrowthForceBlog

6 min read Worrying about problems that haven't happened yet or ones that might never happen to your organization may seem like a waste of time and resources – especially if you have more pressing concerns like determining how you're going to meet your fundraising goals so that your mission can survive another year.

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10 Ways to Keep Your Hourly Employees

Getting and keeping hourly workers is no longer as simple as offering them more cash. Employees have options. But this guide from Paycor will help you put your best foot forward to recruit, retain, and develop hourly workers so you can remain competitive.

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The Accounting Cycle: Everything You Need to Know

Accounting Department

The accounting cycle is a multi-step process that involves accepting, recording, sorting, and crediting payments made within a business during a period of time. It creates an accurate record of the business's financials that are summarized on its financial statements.

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Monday Morning Accounting News Brief: PwC Partner Banned; Salary Predictions; Public Accountants Have Had It | 1.23.23

Going Concern

Last week someone complained about the format I’ve been using for this linkwrap since I started doing it many, many Mondays ago so just for them, here’s some bullet-free bullet points in lieu of one giant paragraph. Don’t say I never did anything for you.

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W2 Statements Due to Employees and SSA by Jan. 31, 2023

CPA Practice

The Internal Revenue Service is reminding employers of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud.

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How Many Employees Does a Small Business Have? (+ Industry and State Charts)

Patriot Software

Small businesses are the backbone of the American economy. The numbers don’t lie: 99.9% of American businesses are small businesses, and almost half (46.8%) of US employees work for small businesses. But what makes a small business small?

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The CFO Playbook: How to Decrease Costs & Increase Engagement

Learn how to reduce costs while simultaneously increasing employee morale.

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When Culture Meets Community

Insightful Accountant

MasterYourBooks' Mariette Martinez on the important role both play in reaching personal and professional growth goals for Latinos

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KPMG Vice Chair Hopes All the Tech Layoffs Will Scare College Kids Into Accounting

Going Concern

KPMG Vice Chair Greg Engel has been having trouble sleeping lately. It isn’t climate change or social justice or the price of eggs keeping him up at night, like most accounting leaders he is consumed by the talent shortage. No really, that’s what he told CFO Dive.

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Supreme Court Shoots Down Appeal on Use of COVID Aid for Tax Cuts

CPA Practice

By Greg Stohr, Bloomberg News (TNS) The U.S. Supreme Court turned away a Missouri appeal that sought to ensure states can cut taxes even as they receive $195 billion in federal pandemic relief money.

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7 Typical Digital Marketing Mistakes to Avoid for a Small Business

Snyder

In the digital marketing world, there are always risks of making crucial digital marketing mistakes that can lead to a waste of money for your business.

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Virtual Cards — Everything You Need to Know

Speaker: Eoin Hession, Controller at Recharge

Even though virtual cards have been part of the payments system for over ten years, there remains a lack of clarity around how they work and their value to companies large and small. In this webinar, Eoin Hession, Controller at Recharge, talks about how his company uses virtual cards in their operations. Sign up today!

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Important Changes to QuickBooks Related 1099 Filing and Billing for 2023

Insightful Accountant

You need to read this if you're an accountant who has firm-billed (wholesale billing or “Bill My Firm”) clients without a Payroll or Contractor Payment subscription, and are filing 1099(s) for the 2022 tax year

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Friday Footnotes: Higher Salaries Lead to Higher Fees; EY Auditors Quit; Senator Rags on Greedy Accounting Firms | 1.27.23

Going Concern

Big 4 EY auditors escape potential Wirecard sanctions after leaving profession [ Financial Times ] Germany’s audit watchdog closed investigations against four current and former EY auditors involved in inspecting collapsed payments firm Wirecard after they handed back their professional licences and left the profession earlier this month.

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Accounting Top 100 Social Media Leaderboard – Jan. 18, 2023

CPA Practice

We are proud that Avalara’s Accounting Top 100 social media leaderboard is made up of a diverse group of accounting industry professionals.

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Know Your Small Business Tax Deadlines For 2023

Ronika Khanna CPA,CA

Somehow we are almost one month into 2023 (!) and it is time for business owners (and individuals) to start thinking about one of their favourite subjects i.e. taxes. I have compiled a list of the deadlines that all of you should know and also updated my annual business tax deadline calendar.

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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.

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QuickBooks, Mailchimp to Host Fireside Chat for Black History Month

Insightful Accountant

The virtual fireside chat, which highlights the challenges and courage of small business owners, features actress Issa Rae, and TV host and former NFL player Nate Burleson. Get the details for the Feb. 1 event here

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Local Accounting Firm Baffled That Desperate Laid Off People Don’t Want to Work There

Going Concern

When big layoffs began in tech last year, accountants everywhere justifiably celebrated for having chosen a career that may not be the most prestigious (or exciting or lucrative…) but will always be in demand.

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New Approaches to Audits Gain Ground

CPA Practice

By Tod McDonald. With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play.

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Salesforce AppExchange: What it is, Benefits,  and Tips

Accounting Seed

See how the Salesforce AppExchange can supercharge your business. The Salesforce platform has hundreds of useful features and components that help organizations provide exceptional customer experiences. However, not every aspect of a business is supported by the family of Salesforce products.

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Building Smart with Distributed Teams

Speaker: Sam Ross, General Counsel at Remote; Jenny Bloom, former CFO at Zapier & Darren Murph, Head of Remote at GitLab

It’s clear that distributed teams are here to stay in some form or another. Adapting to this reality means finding the right systems and processes that support remote workers — including international ones — while controlling for risks and communication challenges. Watch to find out more!