The Internal Revenue Service issued guidance today on new tax law changes that allow small business taxpayers with average annual gross earnings of $25 million or less in the prior three-year period to use the cash method of accounting.
Are you wondering if the location of your accounting practice really matters? With technology and cloud accounting, does it matter where your office is located? The answer is: Absolutely.
Most accountants are well trained to deal with technical issues. But there is minimal guidance for playing the role of unofficial psychiatrist. We spoke with several experts who offered advice for when you find yourself in that position... Here are some Tips for handling anxious clients.
Regardless of what anyone else tells you, running a business isn’t cheap or easy. In addition to the expenses you probably know about, there are a number of hidden costs of starting and running a business. I personally find that easily sneak up on you. It can even erode your bottom line if you aren’t careful.
Your staff does not collaborate enough. At least that’s the finding of a Harvard Business Review study that found 75 percent of teams working cross-functionally are dysfunctional. Here are 10 Secrets to Strong Team Collaboration... @KatieTolin @CPAGrowthGuides
Small businesses need to bring their product or service to market, whilst minimising unnecessary expenditure, monitoring competitors, retaining staff and providing memorable customer experiences.
There is a great need to develop the younger generation to become better business advisors. The art of developing integrity, technical skills and strategic thinking in younger generation staff members to become better business advisors can be challenging, but it doesn’t have to be overwhelming. #PoweringProsperity @angelanrust
When comparing traditional bookkeeping to cloud computing and hiring a virtual accountant, the flaws of traditional methods become evident, and you realize that it’s slowing your business down via @TammathaDenyes
In June, Google released 'Messages for Web' which are similar to the Apple iPhone iMessage for Mac. The App allows you to create and respond to text directly from your computer via @QuickBooks
Choosing the best way to pay for something – credit or cash – can make a real dollar difference for you. So knowing when to do which is key. Here are 5 times when it's better to stash your cash and pay with plastic.
Client relationships are critical to your accounting or bookkeeping firm’s success. Strong, productive relationships with your clients will reduce churn, help your firm differentiate, and ultimately help you to increase profitability via @Hubdoc
Quite often we can get so wrapped up in checking projects off the company’s to-do list that we forget to recognize the labor that went into each accomplishment via @RootAdvisors
Multigenerational family vacations have experienced an uptick in popularity, especially with older generations being more active and families living farther apart via @RootAdvisors
You may be completely proficient at decoding emojis on social media and in text messages, but for many of us, figuring out what other people’s facial expressions mean can be quite a challenge. However, Can You Interpret Facial Expressions at Work?
You've probably heard of the term imposter syndrome. It's a phrase that describes that feeling that you don't really belong in an industry or group. It's really just a clever, trendy term for an age-old problem: insecurity over how to be a leader.
Interview With Michael Hitchcock, QBOA Practice Management Visionary Soon we’ll be releasing workflow templates for tax, accounting, payroll and client onboarding that we sourced from the tip-of-the-spear accountants across the globe. #PoweringProsperity @QuickBooks @IntuitAccts
The most profitable firms are the ones who know that customer experiences are what drive retention and growth – but how do you become an accountant that goes above and beyond for their clients, especially when they least expect it? #QBFirmOfTheFuture #PoweringProsperity
Every entrepreneur I know is constantly striving to do better, whether that means improving efficiency, increasing profitability, feeling more fulfilled or delivering better products to our clients via @MikeMichalowicz on @AmexBusiness
Let’s face it: we all have “that” client/company who forget they need to record an online bill payment. What they do instead is get click happy and accept @QuickBooks Online Bank Feeds and record an expense. via @LizQBO
What we’re really making here is something that is humanity plus: It’s us, plus the machines, plus the planet. via @SmithsonianMag
Artificial intelligence (AI) and related technologies will generate as many jobs as they displace over the next 20 years, according to a report by audit firm PwC which focused mainly on the United Kingdom.
Organizations around the world could add more than $2.5 trillion to their annual labor costs within 12 years as a result of the global shortage of highly skilled workers, according to new research from Korn Ferry.
As far back as the industrial revolution, major innovations have traveled swiftly from company to company and industry to industry, an economy-boosting phenomenon called diffusion.
Automation is the delegation of the human control function to a machine and in accounting, automation is the delegation of human control function software. #PoweringProsperity
People should get paid for work they have done. It’s a pretty simple principle of capitalism, but a principle that seems increasingly violated in the modern economy. #PoweringProsperity Disrupting the paycheck, @Gusto's Flexible Pay allows...
Team chat apps have made a huge dent in reducing internal email. They improve communication by encouraging brevity and reshaping expectations about how and when people will reply. Team Chat Apps Showdown: Slack vs. Microsoft Teams
Over the last few months, Facebook has been relentlessly pushing its Workplace by Facebook platform, expanding the app’s feature list while ramping up its marketing. Does Workplace by Facebook Live Up to the Hype for Accountants?
Plenty of studies and surveys show the power of remote work when it comes to productivity. Here are three reasons remote workers outperform office workers via @Inc
In 2013, attorney Dan Alban of the Institute for Justice argued that the Internal Revenue Service (IRS) could not license tax preparers for one simple reason: Congress never gave the IRS the authority to license tax preparers.
Working remotely is no longer a pipe dream within the accounting profession. Some firms have come a long way, harnessing the power of cloud technology to support remote workers and broaden their reach into the pool of qualified staff. #PoweringProsperity
Begin with why you are going. As with any worthwhile endeavor, I have found that determining your reasons for attending a certain event should also determine your approach. via @kathygrosskurth
Alabama has had a rule requiring certain out-of-state sellers to collect and remit tax on their sales into the state since January 1, 2016, but it’s lacked the authority to properly enforce it. Until now — enforcement begins October 1, 2018 via @Avalara
The Intuit® ProConnect™ team is constantly monitoring important changes in tax reform and IRS activities, and will bring these changes to you as they become available. Here are some important changes to e-file you’ll want to know about for tax year 2018.
Tax Pros for Reel: What Do you Think About the Practice Management Tool in QuickBooks® Online Accountant? @QuickBooks @IntuitAccts @HSatterley
.@QBMurph looks at some more recent data corruptions impacting QuickBooks Desktop users. @QuickBooks
Does the proliferation of artificial intelligence (AI) threaten the accounting profession? Could accountants be replaced by automation? Here's a guide on how to prosper in the age of accounting robots...
You’ve decided to move on from checks and wires and implement electronic payments. Congratulations! But now the real work begins. How to Transition your Clients from Checks and Wires to Electronic Payments via @PlootoInc
Starting a new #smallbiz? Surely your focus needs to be on getting going. You only have a few employees, so there’s nothing to worry about your "team" - Right? WRONG. Here are 6 Ways New Businesses Can Build Employee Engagement From the Start via @LivePlan
Whether it thrills or terrifies you, the unknown has great power. Its manifestations—the novelist's blank page, the painter's empty canvas—are mythologized with good reason: their universal potential to intimidate or inspire the artist. #PoweringProsperity
The IRS is always looking for ways to collect more tax, and limited liability companies (LLCs) are one of the latest targets. In court cases since 2011, the IRS has been giving extra scrutiny to the self-employment taxes paid by LLC members. #QBFirmOfTheFuture
Perfectionism begets self-doubt, and self-doubt begets an inability to operate at your full potential. The key, according to Arianna Huffington, is to ""evict the obnoxious roommate"" in your head via @Amazon on #YouTube
According to #Cybersecurity firm Trend Micro, about 90 percent of all data breaches begin with a simple #emailphishing attack. Financial wellness starts with knowing your personal and financial data are safe and sound via @LiscioCX #PoweringProsperity
If you find yourself getting distracted by busy days, you might need to try a new trick: visualization. Charles Duhigg says the most successful people know how to visualize their day, and they're more productive because of it. Use mental models to be productive via @Amazon on #YouTube
The ongoing digitization of the Canadian financial services sector is driving consulting revenue at the Big Four accounting firms in Canada. @Cdn_Accountant
When you're faced with a head and notebook full of ideas, deciding how to prioritize can be a challenge. Tim Ferriss has several helpful tips for you, outlining how he's made success possible in his own life. Here are 3 strategies for prioritization via @Amazon on #YouTube
We often think of one type of intelligence when we talk about “smarts.” However, book learning isn’t everything. Being smart intellectually isn’t going to be the only thing that allows you to be successful as a business owner.
Starting your own business is no easy task. There’s a mountain of things to do and paperwork to sort out, as well as trying to find new customers and clients. Here are 5 common mistakes of new business owners... via @sweetestmenu on @QuickBooks
In this new article of #QBFirmOfTheFuture, we spotlight Vanessa Ocampo, founder of QuickBooksEnEspanol.com. #PoweringProsperity
Cloud computing offers so many benefits to #accountingfirms of every size. Cloud technologies can reduce your IT costs, improve your data security, and provide real-time data & remote access. Here's a guide on How to move your accounting firm to the cloud via Roberto Ramesar of @WayPayInc
Responding to your reviews, both positive and negative, is important in shaping your brand online. And now you can reply to reviews on #QBOA #FAP. Her are some Dos and Don'ts of Replying to Reviews on Find-a-ProAdvisor... #QBFirmOfTheFuture #PoweringProsperity @QuickBooks @IntuitAccts
