June 24, 2018

For Once, the Month-End Close Drives You to Drink for Fun

Please enjoy this sponsored content from FloQast.

Join us on Thursday, May 18th from 6 to 8 p.m. for a happy hour panel discussion at the Stack Overflow office in New York City, where attendees can gain insight into best practices for managing the month-end close process.

The panel will include accounting and finance executives from Grubhub, Stack Overflow, Oscar Health and Connor Group, led by FloQast co-founder and CEO, Mike Whitmire.

Learn how accounting teams at industry-leading companies are better organizing their teams and processes to accelerate their close time and improve accuracy. Share industry best practices and enjoy complimentary food, an open bar and the chance to network with finance and accounting executives. We hope to see you there!

Who’s talking:

  • Brandt Kucharski, Corporate Controller at Grubhub
  • Jonathan Kearl, Director at Connor Group
  • Jerry Raphael, Controller at Stack Overflow
  • Aaron Crawford, Manager of Financial Reporting at Oscar Health
  • Mike Whitmire, CEO of FloQast

What are they talking about?

It’s a panel discussion where attendees will gain insight into best practices for managing the month-end close and learn how accounting teams at cutting-edge companies are better organizing their teams and processes to accelerate their close time and improve accuracy.

What will you learn?

Panelists will discuss best practices learned from their experiences at innovative accounting departments on:

  • Management: Advice for keeping your team organized, transparent and accountable
  • Organization: How to maintain standardized documentation and efficient processes; effective document tracking and version control
  • Workflow: Process management, automation, and collaboration solutions
  • Audit Readiness: Strategies for a faster month-end close and pain-free audits
  • Education: Continuous education and improvement

When and where is this happening?  

Thursday, May 18th from 6 to 8 p.m. at Stack Overflow’s Headquarters, 110 Williams St., Floor 28 in New York.

Why would I want to go?

Share industry best practices, enjoy free food, an open bar and the chance to network with finance and accounting executives from industry leading companies.

Who should attend:

Any finance and accounting leaders who want to gain insight into best practices for managing the month-end close.

Where do I sign up?!

Glad you asked! The event is free and you can register here.

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Give It Up Tax Protesters, You’re Just Screwing Yourselves

Of the adherents of strange and puzzling belief systems – 9/11 Truthers, Fed groupies, Cubs fans – few work so hard to screw themselves as tax protesters.

By their own account, twww.rothcpa.com/archives/000480.php”>spend “thousands of hours” reading their arcane tracts, expanding on theories of why the 16th Amendment is a figment of our imagination, or why a gold-fringed flag means you’re in an admiralty court, which somehow undoes the income tax.

Or why the federal tax law only covers the District of Columbia and federal forts, or why Section 861 says U.S. source income isn’t taxable. The result? They still owe the taxes, penalties, and maybe $25,000 idiot fees from the tax court – and that’s if things go well. If they go badly, they go very badly.

Every year the IRS updates its handy debunking of tax protester arguments. It does little good. You can spend hours trying to talk tax protesters out of their ideas, but they move effortlessly from one gold-fringed bad idea to another, and they can almost sound like they make sense, until you get outside and get some fresh air. But there is one common problem in all of these “Tax Honesty” arguments: they don’t work.

No matter how convinced you are that Irwin Schiff’s theories of the income tax are true, that there is no income tax, all of the federal judges think there is one. So does the IRS, the Federal Marshals Service, and pretty much everyone in the Bureau of Prisons. What they say trumps what Irwin says, which is why the poor man is likely to die in jail.

But what about the glorious courtroom triumphs of Lloyd Long, Vernice Kuglin and Tom Cryer? They were acquitted by juries! Yes, these guys beat criminal charges. Why the juries voted the way they did, we’ll never really know. Maybe they were nullifiers, striking a blow against the income tax. Maybe they decided that the defendants really believed their schtick, so they didn’t “willfully” fail to pay their taxes. But these acquittals debunk the income tax only if the O.J. acquittal debunks California’s murder statute. Even though these guys didn’t go to jail (unlike many, including their pied piper, Irwin Schiff), they still have to pay their taxes.

Maybe you’re reading this and thinking “Of course he says that. He does taxes for a living. He’s in on the conspiracy!” If so, come on. If this stuff actually worked, I wouldn’t grind my way through every tax season pretending there is an income tax. If it worked, I would just talk to a few of my wealthiest clients, work out a deal to take 5% of their income for the next 10 years in return for making their taxes go away, wave my wand, and spend March in Mesa.

But here I am, grinding out those returns. That no more makes me “pro-tax” than believing in germ theory makes a doctor “pro-bacteria.” Still, if you really want to ruin your financial life, you’re welcome to choose your poison. But first ask yourself: are all of these big companies and rich guys who pay taxes crazy or stupid? Or is it just you?