Bette M. Hochberger, CPA CGMA

"Over a third of small- to medium-sized businesses are looking for more advice in areas such as strategic tax planning or financial planning."* Accountants can build stronger relationships with their clients and help them achieve their goals, and ChangeGPS has the tools to make it easy. 👉https://hubs.la/Q02yyl-m0 - #accountantsandaccounting #accountingservice *https://hubs.la/Q02yygdn0

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We just published a new blog post about the June 2024 Individual Due Dates, learn more from your friends at MTS Professional Tax Service Inc. Just click below.

Accountants recommend widening the tax base for state revenue boost. Read more on the link.

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Want to unlock the full potential of your CPA partnership? Here are 5 tips: Ask questions: Don't be afraid to seek clarification on financial matters. Take notes: Keep track of questions or topics you want to discuss throughout the year. Communicate openly: Regular check-ins ensure you're on the same page. Don't wait: Reach out before tax season for proactive planning. Long-term strategy: Work with your CPA to develop a financial roadmap for your business's future. #choosepattar 🔹 #smallbusiness #financialadvice #businesssuccess #doingindyright #indybusiness

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WHY IS ACCOUNTING IMPORTANT? Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions. There are three key financial statements generated by your records. *The income statement provides you with information about the profit and loss *The balance sheet gives you a clear picture on the financial position of your business on a particular date. *The cash flow statement is a bridge between the income statement and balance sheet and reports the cash generated and spent during a specific period of time. It is critical you keep your financial records clean and up to date if you want to keep your business afloat. Here are just a few of the reasons why it is important for your business, big or small! -IT HELPS IN EVALUATING THE PERFORMANCE OF BUSINESS Your financial records reflect the results of operations as well as the financial position of your small business or corporation. In other words, they help you understand what’s going on with your business financially. Not only will clean and up to date records help you keep track of expenses, gross margin, and possible debt, but it will help you compare your current data with the previous accounting records and allocate your budget appropriately. Read full article 👇🏽: https://lnkd.in/eakzEYC #elizabethrobertsaccounting #financialaccounting #accountingservices #accountingtips #taxtips #taxplanning #taxprofessional

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The first 2023 tax year deadline is almost down and the end is in sight! While many 🇨🇦 accounting pros are wrapping up personal income tax preparation work today, we know lots of you still have a few more deadlines to make 💼 We've got you - we're here to cheer you on every step of the way! 🎉 🙌 #KeepCalmAndTaxOn

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CPA Trendlines: GROWTH STRATEGIES: Clients Buy Solutions, Not Features: Four elements to consider in every selling situation. By August J. Aquila Price It Right: How to Value Accounting Services Go PRO for members-only access to more August J. Aquila. http://dlvr.it/T5fgf8 #Client #Growth #Marketing

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CPA Trendlines: GROWTH STRATEGIES: Clients Buy Solutions, Not Features: Four elements to consider in every selling situation. By August J. Aquila Price It Right: How to Value Accounting Services Go PRO for members-only access to more August J. Aquila. http://dlvr.it/T5fh02 #Client #Growth #Marketing

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CPA Trendlines: GROWTH STRATEGIES: Clients Buy Solutions, Not Features: Four elements to consider in every selling situation. By August J. Aquila Price It Right: How to Value Accounting Services Go PRO for members-only access to more August J. Aquila. http://dlvr.it/T5fhZb #Client #Growth #Marketing

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Our latest episode of Taxes for the Masses - Tax Nerdery talks about the declining number of accounting professionals. We've already gotten a lot of comments on this episode and will be revisiting the topic -- and the excellent research done into the issue -- in a future episode. In the meantime, check out this one, wherever you get your podcasts! #taxday #taxes #accounting Professors.fm Texas McCombs School of Business Indiana University - Kelley School of Business

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❓🤔 I get asked often about how we approach outsource accounting here at The Bonadio Group. We created a brief video that provides an overview of our services & the technology powered by Sage Intacct. Click the link to learn how outsourcing can eliminate turnover, create stability, streamline your financial operations, drive growth and so much more. #TheBonadioGroup #OutsourceAccounting https://lnkd.in/dyRtEdG7

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CFOs Struggle to Manage Complexities of State Tax Filings Tax season might be over. But then again, there’s always next year. As Wendy Walker, solution principal at Sovos, told PYMNTS, the complexities of tax reporting will still demand that organizations of all sizes gear up for changes in the tax code and rigorous reporting requirements that will always be fluid and complex. But one thing is simpler: The IRS’ Combined Federal and State Filing program seeks to simplify some of that complexity by taking things online. As Walker told PYMNTS, direct state reporting takes place — as the name implies — when an enterprise files 1099 tax information directly with a state government. “Generally speaking, if you are required to issue a 1099 to the IRS, there is going to be a state requirement as well,” she said. Tax laws require that states use most of the information contained in 1099s, W-2s and other returns that are filed with the IRS to compare income and withholding amounts on state income returns. Enforcement Is Ramping Up Although state tax reporting is nothing new — it’s been around for decades — Walker noted that enforcement has seen some renewed vigor in terms of making sure that all the information matches up. Missteps or failure to file those forms with the states winds up having consequences, chiefly in the form of penalties. “Sometimes states have a per-failure penalty rate, so they will charge a certain dollar amount for each information return that has not been filed,” she said. “Other states will levy penalties based on the income reported on the returns that were not filed.” “There can be pretty stiff penalties, depending on the state,” she added. Amid the stepped-up enforcement, complexity reigns too. This is becoming more apparent as states lower direct-reporting requirements below IRS thresholds. Walker offered the example where some states now require direct reporting of Form 1099-K for transactions done through online apps such as Uber and DoorDash at a $600 threshold, while the IRS only plans to lower the federal threshold to $5,000 for 2024 reporting. Although the IRS’ combined filing program seeks to allow states to file information with the IRS — and the IRS shares the info with the states — the fact remains that the IRS does not (yet) support all the information that states require. California, in just one instance, requires information returns for cancellation of debt that are not included in the combined program. “So, if you are in California, you would have to file those returns directly with the state instead of being able to rely on the IRS,” Walker said. In other cases, some states are listed as participating in the combined program, but their websites say that companies must file directly. “This can all get a bit confusing,” Walker said. News credit PYMNTS #news #fintechnews #finance #financenews #trendingnews #viralnews #dailynewsupdates #dailynewsletter

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When people think of accountants and the role they play for businesses and business owners, they usually think of tax and compliance. However, the role of an accountant extends far beyond traditional bookkeeping and tax preparation.   As accountants, we are pivotal in supporting and steering businesses towards growth and sustainability.   At Johnsons MME, we believe in achieving goals together, and this principle is at the heart of how we guide successful businesses to improve and grow.   In our latest blog we share some of the ways which, as your accountant, we can work with you to improve business operations, profitability, strategic direction, and achieve goals together.   Read more here, https://lnkd.in/gx74avmQ

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What are the top habits of companies with highly effective account reconciliation processes? Join Derek Henry, CPA, CFE and me to find out and earn #freeCPE at the same time. We've combined our passion for quality & efficiency to introduce ways you and your accounting team can get the most out of your reconciliations. Use the link or QR code in the post below to sign up. See you on June 26! #CPE #accountreconciliations #reconciliationstrong #qualityreconciliation #trueaccountingstories

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