Wed.Jan 04, 2023

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IRS audit rates declined further in 2022

Accounting Today

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Here's Your Sign to Outsource in 2023

Accounting Department

Most business owners and managers are busy to the point that they overlook the signs that indicate it is time to outsource bookkeeping and/or accounting projects to outside specialists. Instead of attempting to do everything in-house, trust the bookkeeping services professionals to complete numbers-related projects on your behalf.

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Addressing the accounting hiring crisis

Accounting Today

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Changes to Lease Accounting Rules (ASC 842)

SMB Accounting and Consulting

New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. Under the old rules, financial reporting requirements were determined based on whether a contract was considered a capital or operating lease. Capital leases were leases of equipment or large assets.

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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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Machine learning in Google Sheets, and other tech stories you may have missed

Accounting Today

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Amazon Sagemaker Pricing Explained: A Guide For 2023

CloudZero

Amazon SageMaker makes it easy to prepare data for machine learning (ML) and then train, deploy, and modify ML models. SageMaker is a fully managed service that automates much of the ML lifecycle. So, if you want a single partner to help you through all stages of your Artificial Intelligence (AI) lifecycle, SageMaker might be the answer.

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Why can't accountants work 40-hour weeks?

Blake Oliver

Me: "Why can't accountants work 40-hour weeks?" Grizzled Director/Partner: "Because accounting is deadline-driven. Unless you change the deadlines, you can't change the busy season." That's the number one argument I hear against the 40-hour week for accountants. Maybe that was true in the past, but it isn't true today. There's tech your firm can buy TODAY that will cut your workload by 20% or more.

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Despite spike in use, private debt collectors don't collect much tax

Accounting Today

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Jan 4, IRS News For U.S. Work From Home Business Owners

Bookkeeping Essentials

IRS news and other information that would be of interest to U.S. business owners who do their own bookkeeping or work from home bookkeepers. News on 2023 COLA & FICA.

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M&A roundup: Deals from East to West

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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Jan 4, 5 Tips for Business Owners Looking to Organize Their Books

Bookkeeping Essentials

What will your New Year's resolution be?

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Walmart gets $1B tax bill for PhonePe shift to India

Accounting Today

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Jan 4, CRA Auto Allowances | IRS Mileage Rates

Bookkeeping Essentials

What is CRA's tax free auto allowance for 2023? What is the IRS standard mileage rate for 2023? Find these and other business travel rates here.

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Investing novices are calling the shots for $4T at U.S. pensions

Accounting Today

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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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Jan 4, CRA and IRS Interest Rates | Small Business

Bookkeeping Essentials

CRA and IRS interest rates for corporate loans to shareholders, installment sales, under and over payment of taxes

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Wash sales heavily inflating crypto transaction volume

Accounting Today

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Jan 4, 2023 Self Employment Taxes | FICA & CPP

Bookkeeping Essentials

Learn about self employment taxes for business owners working from home. US self employment tax (SICA) & required CPP contributions for self employed in Canada.

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Labor Market Remains Tight, But Not for Long

NACM

Despite the Fed's aggressive interest rate hikes and stubborn inflation, the labor market remains tight. The unemployment rate is sitting at a historical low of 3.7% and average hourly earnings rose 5% year-over-year, "well above a pace that would be consistent with the Federal Reserve's 2% inflation goal," reads an article from Bloomberg.

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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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Jan 4, U.S. Self Employment Income - Self Employment Tax

Bookkeeping Essentials

Self employment income is subject to U.S. self employment tax. updated to 2023. You'll find information on estimated taxes, standard mileage rates and U.S. rules for business use of your car.

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