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Noteworthy 2023 IRS Inflation Tax Changes and Accounting Considerations for High Inflation

Noteworthy 2023 IRS Inflation Tax Changes and Accounting Considerations for High Inflation

🖨 Print⏱ 4 min readWith the world seeing inflation, the Internal Revenue Service (IRS) has issued guidance for tax filers. Based upon an October 2022 IRS News Release, there have been more than 60 adjustments in conjunction with its yearly inflation alterations. Highlights of inflation adjustments include increasing the married couples’ standard deduction for 2023 […]

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Leveraging the Internet of Behavior (IoB) to Boost Customer Loyalty

Leveraging the Internet of Behavior (IoB) to Boost Customer Loyalty

🖨 Print⏱ 4 min readCustomer loyalty is critical to any successful business strategy in today’s digital age. With emerging technologies such as the internet of things (IoT), companies are now leveraging a new approach called the internet of behavior (IoB) to gain deeper insights into their customers’ behavior and preferences. What is IoB? The internet […]

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Understanding the Latest Modifications to Form 1099-K Reporting Requirements

Understanding the Latest Modifications to Form 1099-K Reporting Requirements

🖨 Print⏱ 3 min readThere has been updated guidance on how and when tax filers must file and report Form 1099-K, Payment Card, and Third-Party Network Transactions in 2022 and 2023. According to the December IRS release, new income and transaction reporting requirements for so-called third-party settlement organizations (TPSOs) have been delayed for one year. […]

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How To Use Natural Language Processing To Improve The Efficiency Of Accounting Processes

How To Use Natural Language Processing To Improve The Efficiency Of Accounting Processes

🖨 Print⏱ 4 min readNatural language processing (NLP) is a technology that allows computers to understand and process human language. Processing of natural language is necessary when you want an intelligent device to follow your instructions. NPL is an artificial intelligence (AI) component with many real-life applications. As technology advances, business leaders have to figure […]

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Defining an Impaired Asset

Defining an Impaired Asset

🖨 Print⏱ 3 min readWhen it comes to defining an impaired asset, its fair market value is worth less than the original cost of the asset – or, more formally, its carrying value. As a company re-evaluates its assets’ value, and when it determines there’s a discrepancy between the book or original value and the […]

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