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☆ Intuit's CMO has a plan to help the company seize a new $30 billion revenue opportunity
▼ + stars: | 2024-01-17 | by ( Ryan Joe | ) www.businessinsider.com time to read: +5 min

And providing that financial assistance, Goodarzi said during an investors conference in December, represents a $30 billion opportunity that Intuit has not claimed. But TurboTax competitor H&R Block is also reaching for this opportunity, and has gone on the offensive with its own AI-powered tax assistant, released in December. A bevy of new H&R Block ads tout the assistant, and takes a shot at TurboTax: "So long, TurboTax!" "Comparative marketing is a common practice and we've used it for many years to help consumers easily see the benefits of working with H&R Block," an H&R Block spokesperson said. "People just aren't aware, because of how strongly we grew the do-it-yourself perception within TurboTax," Balazs said.

Persons: TurboTax, Lara Balazs, there's, Sasan Goodarzi, Goodarzi, Balazs, DJ Stout, we've Organizations: Intuit, Business, Karma ., Intuit Assist Locations: TurboTax

☆ Intuit beats first-quarter estimates on resilient demand for financial products
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

The logo of financial software company Intuit is displayed at the Collision conference in Toronto, Ontario, Canada June 23, 2022. REUTERS/Chris Helgren Acquire Licensing RightsNov 28 (Reuters) - Accounting software-maker Intuit (INTU.O) on Tuesday beat Wall Street estimates for first-quarter profit and revenue, on resilient demand for its artificial intelligence infused products that help businesses manage their financial needs. Products offered by Intuit include tax-preparation software TurboTax, personal finance portal Credit Karma, and QuickBooks that help small businesses. The company posted adjusted profit of $2.47 per share for the first quarter, compared with analysts' estimates of $1.98 per share. In the reported quarter, revenue at Credit Karma fell 5% to $405 million, while revenue at its Consumer Group rose 25% to $187 million.

Persons: Chris Helgren, Jaspreet Singh, Shailesh Organizations: Intuit, REUTERS, Products, Credit Karma, Consumer, Thomson Locations: Toronto , Ontario, Canada, View , California, Bengaluru

When applying for a business credit card, issuers may consider your personal credit score if you don't have a business credit report yet. [ Jump to more details ]More on our picks for the easiest business credit cards to getCapital One Spark 1% ClassicThe Capital One Spark 1% Classic has lower credit score requirements than many cash-back business credit cards but still earns valuable rewards. [ Return to card summary ]Bank of America Business Advantage Unlimited Cash Rewards Secured credit cardThe Bank of America Business Advantage Unlimited Cash Rewards Secured credit card is a secured credit card, geared toward applicants with poor or no credit scores. Credit card issuers usually check your personal credit when you apply for a business credit card. Our methodologyTo determine which business credit cards are the easiest to get approved for, CNBC Select analyzed the most popular credit cards available to U.S. business owners with poor or average credit.

Persons: It's, cardholders, Bradstreet, Cardholders, Slack, you've, Cash, you'll, There's Organizations: CNBC, Capital, Bank of America Business, The, of America Business, Apple, Google, Mastercard, Card, Emigrant Bank, FDIC, Brex, SEC, Treasury, Cash, Gas, Bank of America, World, Microsoft, MasterRental, Savings, CNBC Select's, Facebook, Twitter Locations: U.S

☆ The Fed decision on interest rates won't offer much relief to Main Street businesses
▼ + stars: | 2023-11-01 | by ( Mallika Mitra | ) www.cnbc.com time to read: +5 min

The average monthly credit card expenditure of U.S. small businesses is up by an average of 20% compared to pre-pandemic levels, according to a recent report by Intuit QuickBooks. Around 1,660 small businesses have filed for bankruptcy in 2023 so far, which is higher than in all of 2022, according to the American Bankruptcy Institute. Access to capital for small businesses is at an economic cycle low. Getting a business credit card is much easier than getting a loan from a bank, Akcigit said. Power, who leads research on small business credit cards at the firm.

Persons: Jerome Powell, Ufuk, Intuit QuickBooks, Goldman Sachs, Akcigit, John Cabell, Cabell Organizations: Fed, Federal Reserve, Bureau of Labor Statistics JOLTS, Intuit QuickBooks, University of Chicago, Intuit, American Bankruptcy Institute, Goldman Locations: ., U.S

☆ A big climate change stress test is coming for Amazon sellers and suppliers
▼ + stars: | 2023-10-14 | by ( Laura Petrecca | ) www.cnbc.com time to read: +6 min

"The pressure is coming at companies, who are then putting pressure on suppliers," said Bob Willard, a corporate consultant and author of six books on sustainability. AstraZeneca suppliers are expected to annually report emissions data to the CDP and set science-based goals. "Tracking emissions data is no easy feat," says Karen Kerrigan, president and CEO of the Small Business & Entrepreneurship Council. Small businesses already under economic stressAmid ongoing fears of recession, higher interest rates cutting into sources of capital, signs of weaker consumer demand, and labor market challenges, small businesses have focused more on employees and their bottom line than sustainability. The report found, as previous climate accounting has typically shown, that the majority of emissions come from suppliers.

Persons: Bob Willard, Andrew Winston, Winston, Karen Kerrigan, Chaitali Patel, Patel, Russell Organizations: Amazon, Microsoft, Walmart, Apple, AstraZeneca, Intuit QuickBooks, Small Business, Entrepreneurship Council, Greenhouse, CNBC, SurveyMonkey, Survey, New York Times

☆ 28-year-old's side hustle makes $180 an hour, more than doubling his income: How it 'snowballed' into a six-figure salary
▼ + stars: | 2023-09-18 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Carter Osborne's side hustle, advising high schoolers on their college application essays, has more than doubled his income over the last two years, he says. He never dreamed his side hustle, advising high school seniors on their college application essays, would give him a six-figure income. Coming from a family of educators, he'd actually enjoyed his own college application process. Applying to 10 schools — an ambitious but not uncommon number — means writing upwards of 25 essays, Osborne says. At first, the teen was hesitant to include the hobby in his college application, Osborne says.

Persons: Carter, Carter Osborne, Osborne, he'd, He'd, Here's, —, I've Organizations: University of Washington, Seattle, Stanford University, CNBC, National Football League

☆ A former biology teacher who bought a small-town bookstore explains how she made the business profitable and competes with behemoths like Amazon
▼ + stars: | 2023-09-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +14 min

Outside the front door of Main Street Books sits a three-tiered cart with neatly stacked brown bags filled with books. The "Curbside Pickup" cart, which sits outside Main Street Books, was born out of the coronavirus pandemic. Courtesy of Main Street BooksMain Street Books is on Main Street in Davidson, North Carolina, nestled between another local business, Summit Coffee, and a Fifth Third Bank. In 2018, the best-selling author David Sedaris came to Main Street Books for a reading. When the COVID-19 pandemic hit in March 2020, like most businesses, Main Street Books was forced to close.

Persons: Adah Fitzgerald, she's, she'd, —, bookstore's, They're, it's, Fitzgerald, — Barbara Freund, Betty Reinke —, stepdad, David Sedaris, Fitzgerald didn't, That's, Andrea Jasmin, Beth Helfrich, Catherine Edmondson, Kendra Adachi, QuickBooks Organizations: Small, Service, Fifth Third Bank, Books, Woodlawn School, Davidson College, Street Books, American Booksellers Association Locations: breakeven, Davidson , North Carolina, Davidson

Sept 6 (Reuters) - Intuit (INTU.O) launched an artificial intelligence-powered assistant on Wednesday to help clients in financial decision-making when using its products, ranging from tax-preparation tool TurboTax to bookkeeping software QuickBooks. The generative AI tool named "Intuit Assist" marks the latest effort by the financial software company to capitalize on the technology that has taken the world by storm after the rise of OpenAI's ChatGPT. The service uses the company's proprietary generative AI (GenAI) operating system designed to run with its own large language models. Chief Data Officer Ashok Srivastava told Reuters that Intuit's models "competed favorably" against sophisticated third-party rivals in accuracy tests conducted internally. The assistant is currently available to all TurboTax customers and select customers of Intuit's remaining products, with more features lined up for the 2023 tax season, the company said.

Persons: Ashok Srivastava, Arsheeya Bajwa, Akash Sriram, Shweta Agarwal Organizations: Intuit, Reuters, Thomson Locations: Bengaluru

☆ Top Wall Street analysts pick these 5 stocks for compelling returns, including Nvidia
▼ + stars: | 2023-09-03 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Nvidia | via ReutersThe macro backdrop is looking challenging as September begins, but analysts have highlighted several stocks that they feel confident about for the long term. Here are five attractive stocks, according to Wall Street's top experts, as rated by TipRanks, a platform that ranks analysts based on their past performance. The company recently reported its fiscal second-quarter results, which crushed Wall Street's expectations, as revenue more than doubled compared to the prior-year quarter. Management expects sequential revenue growth to accelerate in the fiscal third quarter, fueled by AI and cloud infrastructure. He expects the company's AI initiatives to create value for small business owners, consumers, and taxpayers, driving long-term growth and improved profitability.

Persons: INTU PANW, Wall, Harlan Sur, Sur, Ross Seymore, MRVL, Seymore, Keith Bachman, billings, Bachman, Brad Zelnick, Zelnick Organizations: Nvidia, TipRanks, JPMorgan, Marvell Technology, Management, Deutsche Bank, Automotive, Marvell, Palo Alto, Palo Alto Networks, BMO Capital, Palo, Intuit Financial, Intuit Locations: Santa Clara , California, Palo, billings, Palo Alto

☆ Intuit forecasts robust annual profit; shares dip on weak consumer group outlook
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

The company forecast Consumer Group growth of 7% to 8% for the financial year ending July 2024. "The Consumer Group guidance for FY24 is lighter than expected," Morningstar analyst Julie Sharma said. Intuit's main products include QuickBooks, TurboTax, Credit Karma, and Mailchimp among others, that serve more than 100 million customers by managing a wide range of accounting services. "We were expecting slightly better Credit Karma results," said Sharma, adding it appears that challenges regarding loans were worse than she expected. The company expects annual revenue between $15.89 billion and $16.11 billion, compared with market estimate of $15.99 billion.

Persons: Morningstar, Julie Sharma, Sharma, Jaspreet Singh, Shailesh Organizations: Intuit, Wall, Consumer, Consumer Group, Thomson Locations: TurboTax, View , California, Bengaluru

☆ PayPal taps Intuit exec Alex Chriss as its new CEO
▼ + stars: | 2023-08-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Alex Chriss will become the new CEO of PayPal on September 27. Current CEO Dan Schulman announced in February he would retire at the end of 2023. Chriss will come from Intuit, where he is the EVP of small business and self-employed group. Alex Chriss, the executive vice president of small business and self-employed group at Intuit, has been tapped to lead PayPal, the firm announced Monday. The move comes as current PayPal CEO Dan Schulman announced on February 9 that he will retire at the end of the year.

Persons: Alex Chriss, Dan Schulman, Chriss, Schulman, Elliott Management, Intuit's, Alex, John Donahoe Organizations: PayPal, Intuit, Morning

☆ 6-figure Etsy sellers share 4 big mistakes all users should avoid when using the platform
▼ + stars: | 2023-07-28 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

Insider spoke with four Etsy sellers who started their shops as side hustles and hobbies. They said to research trends, track costs, and accept that a store won't be passive income at first. First-time Etsy sellers could find themselves making common mistakes and not seeing the profits they'd hoped for. Mim JenkinsonMim Jenkinson started selling stickers on Etsy after her breast-cancer diagnosis meant she had to leave her job to undergo chemotherapy. She also uses paid services such as eRank, a platform that helps Etsy sellers find what key words are trending on the platform.

Persons: Jenkinson, she'd, hadn't, Read, Rachel Jimenez, Rachel Jimenez Rachel Jimenez, Jimenez, Emma Larocque, Emma Larocque Emma Larocque, Larocque, I've, Kelly Byrnes, Byrnes, she's Organizations: Jenkinson, Facebook Locations: Etsy

It starts with knowing your money: track your net worth and credit score, and check your finances daily. Your net worth goes beyond your budget, and by tracking it you will start to see how your decisions affect your bottom line. Know your credit scoreYour credit score is important. A good credit score gives you more options for everything from credit cards and personal loans to apartment rentals to insurance. The more money you have along with good money management skills, the more options and possibilities there are for you and your life.

Persons: Rachel Rodgers, —, Rodgers, Here's Organizations: Service, Money Locations: Wall, Silicon

☆ Goldman's 'Rule of 10' for investing and stocks meeting that criteria today
▼ + stars: | 2023-07-04 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Goldman Sachs has a "Rule of 10" for investing that could serve traders well as they head into the second half of the year. While the poor market breadth this year was significant, Goldman Sachs said the trend is typical of most recent years. According to Goldman Sachs, it's vital to identify those names that can lead the market. Now, Goldman Sachs has updated its "Rule of 10" screen to not only identify those stocks posting faster-than-average sales growth, but net income too. Intuit is also expected to post strong net income growth of 15% through 2025, coupled with sales growth of 13% per annum.

Persons: Goldman Sachs, David Kostin, Kostin, Chipotle, Fortinet, Paycom Organizations: Bank of America, Intuit Locations: Fortinet, TurboTax

Capital One Spark Miles Select for Business RewardsWhat is the Capital One Spark Miles Select for Business welcome bonus? How to earn rewards from Capital One Spark Miles SelectThe Spark Miles Select Business Card has a very straightforward earning structure. Read our review Read Our Review A looong arrow, pointing rightCapital One Spark Miles Select for Business Annual Fee and Other CostsThe Spark Miles Select Business Card doesn't charge an annual fee, so it's free to keep and use year after year. What's the difference between the Capital One Spark Miles and Spark Miles Select? Methodology: How we reviewed the Capital One Spark Miles Select for BusinessWe evaluated the Capital One Spark Miles Select for Business in relation to Capital One's other small-business cards, as well as competing no-annual-fee business cards from other banks.

☆ How a 28-year-old former fork lift driver used TikTok to build a multimillion-dollar business
▼ + stars: | 2023-05-05 | by ( Amanda Breen | ) www.businessinsider.com time to read: +7 min

Duke Alexander Moore is the founder of Duke Tax, a membership-based tax service for creators. He uses social media to build his business, "[TikTok] took me from zero to seven figures," he said. "That's how I originally got involved with taxes," Moore explains, "because at an early age, I was self-taught: taxes, bookkeeping and write-offs, just learning all that jam." "I'll never forget, I saw this one tax video [on TikTok]," Moore says. Many creators don't realize they're running a business; they owe money and are eligible for deductions, just like any other business owner, Moore says.

☆ What to expect from the jobs report
▼ + stars: | 2023-05-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —If the latest employment trends continue and economists’ forecasts prove true, Friday’s jobs report could bring back that pre-pandemic feeling. Economists expect the US economy to have added 180,000 jobs in April, according to consensus estimates on Refinitiv. It could also hammer home the fact that the US labor market has indeed cooled down from its red-hot recovery over the past two years. What a rising unemployment rate meansEconomists are expecting the unemployment rate to tick up to 3.6% from 3.5%, according to Refinitiv. Mixed signalsPayroll processor ADP’s monthly look at private-sector employment activity, released two days before the BLS’ employment report, is sometimes looked at as a preview of what to expect from the federal data.

Adult ADHD can make it harder to focus on tasks that don't capture your attention, experts say. Strategies for managing your finances with ADHD include getting outside help and giving yourself extra time. It's no surprise, then, that adult ADHD affects your ability to stay on top of your financial management and overall financial well-being. Experts say there are ways you can keep your finances under control with adult ADHD, though. "When I was managing my business finances and using QuickBooks, it was a very visually overwhelming experience for me," says Potter.

☆ From threatening skeptical execs to approving expenses with emojis, here are the 6 most damning claims from FTX's first debtors report
▼ + stars: | 2023-04-10 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +7 min

Sam Bankman-Fried threatened FTX employees who voiced concerns about its business practices. The report, which is 45 pages long, compiled interviews of 19 former FTX employees and "received substantial information through counsel" for five others. 1) SBF threatened FTX execsMultiple FTX execs were threatened after voicing concerns over the company's business practices. As a result, the report says: "Senior FTX Group personnel scrambled to cobble together purported policies that could be shown to auditors. One former executive described Singh's and Wang's oversight on FTX Group as: "If Nishad [and Gary] got hit by a bus, the whole company would be done."

☆ 10 stocks that are gaining market share for their disruptive innovations like AI, according to a portfolio manager
▼ + stars: | 2023-03-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

AI can be placed under the broad category of disruptive technology, which refers to innovations that change consumers' habits and displace old markets. Then, you have public cloud infrastructure that connects it all together, such as Amazon Web Services or the Google Compute Engine which provides infrastructure as a service (IaaS). For this reason, instead of taking the approach of creating something as narrow as an AI ETF, the ETF is focused on anything that signals disruption to an entire industry and changes the status quo. They have a "tremendous" market share in AI applications, and companies are hungry for their products, he noted. Analog Devices (ADI) provides technology that can translate atmospheric information into digital data to mean something to the hardware.

☆ I'm a stay-at-home mom who made $23,000 in 3 months on Etsy. Here's how I built a business around my busy schedule.
▼ + stars: | 2023-03-17 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +6 min

Kelly Byrnes, a stay-at-home mom, sells wall art on Etsy using a printer in her garage. The low barrier of entry for a print shop on Etsy appealed to meAfter researching what I needed to set up an at-home printing business, I was confident I could start one. I purchased A4 card stock, envelopes, cellophane wrappers, and a postage printer from Amazon. As my business has grown, I've started using independent sellers instead of Amazon to source the materials I need. My Etsy shop has given me exactly what I wanted — independence and money of my ownOn top of money and independence, my Etsy shop has given me great flexibility as the primary caregiver of our three children.

Capital One Spark Cash Select Review: Is the Capital One Spark Cash Select the Best Credit Card for You? For nearly every purchase you make on the Spark 1.5% Cash Select for Excellent Credit, you'll earn 1.5% cash back. Capital One Spark Cash Select RewardsSpark Cash Select welcome bonusThe card currently offers a $500 cash bonus after spending $4,500 on purchases in the first 3 months from account opening. What's the difference between Spark Cash Select for Excellent Credit and Spark Cash Select for Good Credit? Methodology: How we reviewed the Capital One Spark Cash Select for Excellent CreditInsider's credit card team compared the Spark 1.5% Cash Select for Excellent Credit to other small business cards issued by Capital One and other banks.

Pros Check mark icon A check mark. Expert help is available with every filing package Check mark icon A check mark. Pay less than H&R Block and TurboTax and get a comparable experience Check mark icon A check mark. Efficient and streamlined interface Check mark icon A check mark. Ability to set up reminders to pay estimated quarterly taxes throughout the year Check mark icon A check mark.

☆ Bankrupt crypto lender Celsius used Quickbooks for its accounting just like FTX, report says
▼ + stars: | 2023-02-01 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Bankrupt crypto lender Celsius used QuickBooks to log its finances just like FTX. According to an examiner's report, Celsius' tracked its finances in 15 QuickBooks files and failed to produce consolidated statements. Later, Pillay found "significant discrepancies" between account balances in Celsius' QuickBooks files and those used to create consolidated statements, per Decrypt. The court examiner found the "files produced by Celsius were not the original files used to prepare the consolidated financial statements." A detailed probe into the troubled crypto lender found that Celsius misled customers when it advertised its business model.

☆ Crypto startups are getting more due diligence heat from VCs after several high-profile blowups in the industry. But loose accounting standards are making it challenging.
▼ + stars: | 2023-01-30 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

Investors are conducting more rigorous due diligence on crypto startups in the wake of FTX's blowup. Founders told Insider VCs are asking for background checks and more detailed performance metrics. But loose accounting standards in the industry make it hard for investors to vet company financials. After a series of bankruptcies in the crypto industry, venture capitalists are looking much more closely into the inner workings of blockchain and Web3-related startups before they cut a check. The collapse of FTX exposed serious flaws in its investors' due diligence process, several VCs and founders said.

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