Innovative Tool Determines Which Products Are Subject to Sales and Use Tax

NEW YORK (Nov. 22, 2016) – CPA.com and Vertex SMB today announced the launch of a new product taxability tool that allows CPA firms to advise clients on which products are subject to sales and use tax.

An increasing number of small to midsize companies are expanding into online sales, and they need a trusted business advisor to help navigate complex and changing regulations in the more than 11,000 taxing jurisdictions within the United States. It’s not enough to determine if a company has a sufficiently sizable business presence in a state to be subject to sales tax, or what’s known as “nexus.” Clients also need advice on which specific products or services they sell that might incur taxes.

“If a CPA has a client with sales in 20 states, researching the applicable tax laws and how they apply product by product can be time-consuming and costly,” said Michael Cerami, CPA.com’s vice president of business development and corporate alliances. “We’ve automated this function as part of the Firm Advisory Program we’re offering through CPA.com and Vertex SMB. The offering is a key piece of a comprehensive solution that allows firms to track client activity through dashboards and reports, and to keep on track with regulatory updates and thought leadership.”

For initial setup of the taxability tool, practitioners review their client’s products and select specific taxability codes for each item within the Vertex SMB solution. The CPA firm can then run monthly reports to flag any new or changed regulations so the company remains compliant and up-to-date on tax remittances. This enables the CPA firm to add value for their clients by providing advisory services in the area of product taxability.

“We tracked more than 600 new or significant changes in sales and use tax regulations last year, so the ability for CPAs to provide timely updates on compliance-related matters is extremely valuable,” said Chris Livingston, director of product and operations at Vertex SMB. “We think it is an essential tool for practitioners looking to build advisory services in this space.”

CPA.com and Vertex SMB are offering a free webinar about sales and use tax compliance and product taxability, “Automated Sales and Use Taxability Reports for the Win,” at 2 p.m. EST on Nov. 30.

Besides the Firm Advisory Program, CPA.com and Vertex SMB also offer a referral program for CPA firms who want to assist clients with sales and use tax compliance but don’t want to build out an advisory practice. To learn more, visit www.cpa.com/salestax.

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/controller services by firms.

The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.

CPA.com is a majority-owned subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.

About Vertex Inc.

Founded in 1978, Vertex Inc. is the leading provider of corporate tax software and services for companies of all sizes, from small to medium-sized businesses to global multinationals.

Vertex solutions enable companies to realize the full strategic potential of the corporate tax function. The company offers a variety of products and services that allow businesses to automate, integrate, and streamline their corporate tax processes. Vertex provides solutions in every major line of tax including income, sales and consumer use, value added, and payroll. Vertex also offers tailored solutions for specific industries including retail, communications, hospitality, and leasing.

Vertex SMB, a division of Vertex Inc., helps automate sales and use tax compliance for small to medium-sized businesses. By enabling calculations and returns in a cloud-based solution and offering flexible service levels and featuring attractive pay-as-you-go pricing, Vertex SMB meets the sales and use tax automation needs of growing businesses.

Known for its innovative culture, Vertex is a privately held company that employs 900 professionals across the globe, at its headquarters in the U.S. (Berwyn, Pa.) and offices in Europe (London), Brazil (São Paulo), Dallas, Fort Collins, Naperville, Phoenix, San Francisco, Sarasota, and Seattle. For more information about Vertex Inc., visit www.vertexinc.com. For more information about Vertex SMB, visit www.vertexSMB.com.

Financial Information Exchange Developed by CPA.com and Confirmation.com Honored for Innovation

NEW YORK (Nov. 18, 2016) – RIVIO Clearinghouse, a secure document exchange for private company financial information, has been honored with Accountex’s 2016 Blue Ocean App Award, which recognizes innovation in the accounting software marketplace for small to medium-size businesses.

The award was presented today in Las Vegas at Accountex USA, the largest independent accounting technology conference and expo in the United States. It is one of four Meridian in Technology Awards that Accountex oversees in partnership with AccountingWEB, a leading online community and news site for CPAs.

“The Blue Ocean App is an important designation, as it represents innovation in the marketplace,” said R.D. Whitney, group vice president of Diversified Communications, the parent company of Accountex. “The (RIVIO) solution steps outside standard market boundaries to answer a problem that had previously not been addressed for not only CPA firms and their clients, but for financial institutions as well.”

Jointly developed by CPA.com and Confirmation.com, RIVIO is an online platform that securely controls the flow of financial documents between private companies, CPA firms and lenders and investors. It helps prevent fraud and provides more sophisticated controls than existing delivery methods.

“This is the third major accounting technology award RIVIO has won this year, so we’re seeing a consensus of expert opinion form about the advantages of this innovative platform,” said Erik Asgeirsson, president and CEO of CPA.com.

The clearinghouse previously was recognized with a CPA Practice Advisor 2016 Tax & Accounting Technology Innovation Award and an Accounting Today 2016 Top New Product designation.

“We’re proud to be recognized with this award and look forward to working with CPA firms, private equity firms, financial institutions and other key stakeholders who can benefit from RIVIO,” said Brian Fox, CPA, founder and president of Confirmation.com.

For more information about the clearinghouse, visit RIVIO.com.

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/Controller services by firms.

The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.

CPA.com is a subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.

About Confirmation.com

Confirmation.com is the world's leading provider of secure online audit confirmations. Today, 13,000 audit firms confirm over $1 trillion annually for 700,000 clients worldwide. Confirmation.com is used in over 125 countries by banks, companies, and law firms to respond to audit confirmation requests. For more information, visit Confirmation.com.

Position Paper Discusses Demand from Lenders and Investors for Authenticated Data Sources

ORLANDO, Fla. (Oct. 24, 2016) – CPA.com today released a position paper, “Addressing the Need for a Private Company Clearinghouse,” that makes the case for the secure digital distribution of private company financial information.

“Reliable financial information is one of the foundations of capital markets,” the document states. “Emerging trends and market demands suggest the current process in the United States of exchanging private company financial information between CPA firms, clients, banks and investors is not working and needs to be dramatically improved.”

Among other findings, the report:

• Discusses current practice for distributing financial statements and other critical financial data for private companies, which can lead to increased risk of fraud and error
• Examines the digital transformation of financial services, which has led to a growing demand for readily available, authenticated sources of data
• Identifies components of a private company clearinghouse that are required to make it effective

“We created this position paper to shine a light on the growing market problem related to private company financial information exchange.” said Erik Asgeirsson, president and CEO of CPA.com. “In addition, we identified the key capabilities needed in a private company clearinghouse based on extensive discussions with firms, lenders, and investors over the past two years.”

CPA.com and Confirmation.com have jointly developed RIVIO Clearinghouse, a secure, online financial document exchange that meets the requirements outlined in the report. RIVIO was launched this past May, and has been recognized as an Accounting Today 2016 Top New Product and winner of a CPA Practice Advisor 2016 Tax & Accounting Innovation Award.

The position paper was released at the fall meeting of the AICPA governing Council, where Asgeirsson led a panel discussion on RIVIO. The report was developed with feedback from firms, investors, lenders and private businesses, as well as several AICPA technical committees.

More information about RIVIO Clearinghouse can be found at RIVIO.com

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

Co-workers Developed a Tool to Manage Collateral for Marketing, Sales and Business Development

NEW YORK (Sept. X, 2016) – Caitlin Lacher and Rachael Higginbotham, two marketing team members with the Louisiana-based accounting and business advisory firm Postlethwaite & Netterville, are co-winners of CPA.com’s Innovative Practitioners 2016 Award, which recognizes innovations in process, services or technology implementation in public accounting firms.

Lacher and Higginbotham were the guiding forces behind Pounce, a business development tool for professional services firms that launched this summer. The platform allows CPA firms to manage and match staff resumes, as well as industry experience, service expertise and other firm-related materials, so marketing and sales teams can quickly and effectively respond to new business opportunities.

“Rachael and Caitlin had an innovative idea for a tool that could manage our professional bios and sales materials ensuring that materials are accurate, consistent and available 24/7,” said Bill Balhoff, CPA, CFF, CGMA, managing director and CEO of Postlethwaite & Netterville. “They led the development of Pounce, which is an easy-to-use, web-based system designed not only for our firm, but also for all professional services firms.”

Lacher and Higginbotham will be recognized as winners of the award at the 2016 Digital CPA Conference, which will be held Dec. 5-7, 2016, in Las Vegas. Both women have been invited as guests to the event.

“We’re seeing a lot of excitement and energy from the Digital CPA community as more firms embrace technology and a range of practice management innovations,” said Erik Asgeirsson, president and CEO of CPA.com. “Our Innovative Practitioner Award is designed to give a human face to the best practices and breakthrough tools many firms are developing.”

Besides the two winners, three other nominees were recognized for their innovative work. They are:

Runner up

• Charles Postal of Santos, Postal & Co., Rockville, Md., An early advocate of the paperless office, Charles has been at the forefront of technological innovation as managing partner. Under his watch, the firm adopted Yammer.com, Slack.com and OfficeVibe.com, among other services, to provide greater transparency and communication among staff.

Honorable Mention (tie)

• Kathy Ryan of RoseRyan, Newark, Calif. Kathy helped develop her firm’s own in-house application -- the RoseRyan Dream Team System – to automate key processes, such as time tracking, recruiting, revenue forecasting and the like.
• Dixie McCurley of Trusted CFO Solutions, Atlanta. Dixie helps lead CPA.com workshops on client accounting services in the cloud, but also walks the walk with her firm, developing customized accounting models for clients that deliver powerful data analytics for business decision-making.

To read more about these practitioners, please visit the award page. More information about the Digital CPA Conference can be found at DigitalCPA.com.

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

Majority of Small Business Owners See Value in HR and Regulatory Guidance from Trusted Advisors such as CPAs

NEW YORK (Sept. 7, 2016) – CPA.com and Paychex today announced an expanded program to help CPAs broaden their advisory role in human resources, an area that’s becoming increasingly difficult for small and medium-sized businesses to manage.

Businesses need the help, according to a survey of small business owners conducted this spring by Paychex. Some 44 percent of respondents agreed it was increasingly difficult to manage HR, twice as many as those who said it was not. And 61 percent said they would find it valuable if their existing trusted advisor –accountant, attorney or other consultant – offered additional guidance on HR and regulatory compliance.

CPA firms, meanwhile, are eager to broaden their role with clients, according to research from CPA.com. Developing new offerings that expand the value CPAs provide to existing clients was the top priority for firms in last year’s CPA.com Innovation in Public Accounting Survey.

Reflecting these trends, the Paychex Partner Program is designed to grow a CPA’s relationship with clients seeking guidance in payroll, retirement benefits, and now, thanks to the expanded program, human resource services. Through the program, CPAs refer clients to partner with Paychex, one of the country’s leading providers of HR and human capital management solutions, solidifying the accountants’ role as expert advisor and creating more strategic, higher-revenue consultation opportunities for CPAs.

CPAs who enroll in the program can offer their clients a suite of best-in-class services, including access to Paychex’s cloud-based platform, which integrates different offerings such as payroll, employee time and attendance, HR applications and benefits administration.

Additionally, CPAs and clients can connect to a host of flexible reporting tools to create comprehensive, customizable reports. CPAs and clients also enjoy anytime access to data and personnel information through industry leading mobile applications.

“From health care reform to new overtime rules to changes in the minimum wage, the HR landscape is evolving at a rapid pace,” said Andy Childs, Paychex’s vice president of marketing. “Keeping up with regulations requires expert guidance, and the Paychex Partner Program puts one of the most trusted advisors – CPAs – in the best position to serve clients.”

“Payroll, retirement and human resource administration are key components in the value equation of client accounting services,” said Erik Asgeirsson, president and CEO of CPA.com. “With the expansion of the Paychex Partner Program, we’re helping CPA firms move further into the advisory space, which we expect to be a growth area going forward.”

Paychex was the first member of CPA.com’s Partner Solutions lineup, and the two companies have a successful, decade-long partnership that designates Paychex as the preferred payroll, HR, and retirement services provider for AICPA members and their clients.

For more information about the Paychex Partner Program, visit www.cpa.com/paychex.

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the AICPA, the world's largest member organization representing the accounting profession. The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

About Paychex

Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.