March 2019 - CPA Practice Advisor

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In this issue

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Payroll

Employers: SSN No-Match Letters are Back

Many employers still recall opening a letter from the Social Security Administration (SSA) informing them that the name or Social Security number (SSN) reported on a recent wage report does not match a name or SSN in the SSA’s records. At times the ...

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Firm Management

Do Your Best Time Management

While thinking about the time management theme of this issue, I believe my favorite quote about time was used by my Mum that, “We all have the same amount of time in the day, and we have the choice of how we use it.” While I know that’s not quite true ...

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Small Business

QuickBooks Online Advanced Offers a Powerful Solution for Mid-Market Clients

Big things are in store for QuickBooks Online (QBO) Advanced. At the beginning of 2019, Intuit added Client Overview for accountants to its feature set and announced that four more important features – expanded custom user permissions, enhanced ...

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Sales Tax

5 Ways to Fail a Sales Tax Audit

All businesses relish a good sales tax audit. After all, what’s not to like? And did you know it’s possible to spend more time, money, and resources than absolutely necessary during an audit? It’s true. Simply follow the five tips below and you’ll ...

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Firm Management

Time Management: A Critical Element of Firm Success

Accurate time management plays an important role in the success of any professional services firm, including accounting and CPA firms. While time management includes solid time and billing capability, time management is much more than simply recording ...

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Firm Management

2019 Reviews of Time and Billing Systems

The level of features found in these products vary widely, but all offer solid time tracking and client invoicing capability. Advanced features and functionality are found in several of these applications as well. Here are some of the features we ...

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Advisory

4 Keys to Providing Accounting Services to Auto Repair Clients

One of my favorite types of businesses to work with, as a bookkeeper, are auto repair shops. Since the first client of Kildal Services was a repair shop - and actually still IS a client - I have a special place in my nerdy accounting heart for them.

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Firm Management

How to Market Your Firm to Auto Repair Businesses

With over 175,000 mechanical automotive repair shops in the U.S., of which 60 percent are family-owned businesses[1], it may be a good market to expand your firm’s industry lines.

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Accounting

Avoid the Efficiency Trap

Transformation is a favorite topic of conversation at accounting industry conferences and in CPA communities. At this point, firms know why they need to make changes. The challenge isn’t convincing them they need to automate compliance work, modernize ...

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Firm Management

How to Make the Most of Virtual Meetings

The internet has brought many changes to our office work environment, and one of the most significant areas where I see firms not ready to meet client expectations is being ready to participate in effective virtual meetings. Virtual meeting platforms ...

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Sales Tax

More States Taxing Streaming Services Like Netflix and Hulu

Fewer North Americans tune into traditional television and cable these days, and it’s harder to find an American or a Canadian who doesn’t stream at least some shows or movies. Likewise, despite the vinyl revival, there’s a rising generation for whom ...

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Firm Management

Time Management in the Light of Day

I’m not a morning person. There’s nothing about getting up earlier than everyone else that would feel great to me. Instead of working by myself, in the dark, when it’s cold and lonely, I could be cozy asleep in my bed – now that would feel great!

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Firm Management

Building Sincere Connection in the Workplace is More Valuable than Ever

Technology has made the modern work environment at once ultra-connected and increasingly lonely. In every profession, even if you work in a bustling office amid a clamor of people, the interpersonal disconnect we experience is a strange side-effect ...

Accounting

AICPA News: March 2019

The American Institute of CPAs (AICPA) recently wrote to the U.S. Department of the Treasury and the Internal Revenue Service to ask for additional and more extensive penalty relief to taxpayers for the 2018 tax year for underpayments and late ...

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Firm Management

Apps We Love: Weather Apps

It’s that time of year when we (at least those of us in the snowy states) eagerly look out the window each morning to check for signs of spring. Or, if we’re not looking out the window, we’re checking apps to see whether that groundhog made an ...

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Payroll

Payroll Rules When Employees Don and Doff Gear

Donning and doffing is the practice of employees putting on and removing work-related protective gear, clothing, and uniforms. Donning refers to putting on work clothes, gear, and equipment, while doffing means removing them.

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Payroll

How to Create an Unlimited PTO Policy

Unlimited PTO allows employees to take as much time off as they would like for sick leave, vacation, or other types of time off. However, unlimited PTO must not interfere with business operations and tasks.

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Firm Management

Work Is About Results, Not Location

The first thing many people do when they wake up is reach for their smartphone. In fact, your smartphone probably is your alarm clock. But we also use it to send and receive email, check our calendar and so much more. Before we officially sit down ...

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Tax Preparer Due Diligence: More than Checking the Boxes

For most tax professionals, conducting due diligence is second nature, an automatic reflex much like breathing. When a function becomes this automatic, some practitioners may be lulled into a routine of “checking the boxes” and relying on information ...

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Benefits

The Benefits, Perks and Incentives Workers Want Most

Accounting managers understand the persuasive power of a competitive salary when wooing top talent. But it doesn’t stop there. Benefits, perks and incentives can also be deal-makers. Highly skilled accountants and auditors want a well-rounded package ...