BurklandAssociates
DECEMBER 14, 2020
An important metric when determining not only the health of a SaaS startup, but a target ARR prior to your next round, is the Capital Efficiency Ratio. A question I Read More. The post How Much ARR Does My SaaS Startup Need for Our Next Round? appeared first on Burkland.
RogerRossmeisl
DECEMBER 28, 2020
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make qualifying for a medical expense tax deduction difficult for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes. Itemizers must meet a threshold For 2020, the medical expense deduction can only be claimed to the extent your unreimbursed costs exceed 7.5% of your adjusted
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TaxConnex
DECEMBER 29, 2020
An exemption is an exception that eliminates the need to pay sales tax. The presumption is that all sales of tangible personal property are taxable unless specifically enumerated. The purchaser has the responsibility for determining whether a sale is exempt from tax. If the purchaser does not submit a valid exemption certificate to the business, the business must assess and collect the sales tax from the purchaser.
DuctTapeMarketing
DECEMBER 16, 2020
7 Small Business Trends that Arrived Just in Time for 2021 written by John Jantsch read more at Duct Tape Marketing. This blog post is brought to you by GoDaddy Pro. Every year for the last 20 or so, I’ve wrapped up the year with my predictions for trends in the coming year. I’m usually spot on too. But that’s really more of a testament to the fact that trends tend to creep up on us rather than overwhelm us.
Speaker: Danny Gassaway and Wayne Richards
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
SMBAccountant
DECEMBER 16, 2020
Many small business federal contractors begin with research and development (R&D) contracts or grants as part of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These programs are offered by the government to encourage innovation with the potential for commercialization. These programs often result in technology or products that begin with government use and then become commercial items.
PANALITIX
DECEMBER 3, 2020
RESOURCES / ARTICLES. Finding Your Niche: Lessons from Accountants on the Specialization Journey. Accounting businesses are thinking ahead to 2021… and Panalitix is fortunate to be working closely with many of them in North America, Europe, Australia and New Zealand. One observation is that many partners are not satisfied with the current state of their businesses.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
DECEMBER 28, 2020
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important to avoid wash sales if selling stock by year-end. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back within the 30-day period before or after the sale date, the loss can’t be claimed for tax purposes.
TaxConnex
DECEMBER 17, 2020
With nearly 50 million Americans losing their jobs earlier this year and 11 million still unemployed nearly 10 months after the pandemic began, the reality of being forced to do more with less is being felt in every corner of almost every company, including the finance department. Hiring freezes and budget restrictions have left many finance teams struggling to keep up.
DuctTapeMarketing
DECEMBER 11, 2020
Build a Game Changing Marketing Action Plan in Just 9 Steps written by Kyndall Ramirez read more at Duct Tape Marketing. In order to do anything meaningful, you have to know where you’re going and how you’re going to get there. The saying ”failing to plan is planning to fail” couldn’t be more true. If you want your business to be successful, you have to have a game plan.
SMBAccountant
DECEMBER 2, 2020
Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP? GAAP are a set of accounting principles established by the Financial Accounting Standards Board (FASB) to provide clarity, consistency, and comparability of financial reporting and information.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
MyIRSRelief
DECEMBER 1, 2020
As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. As a result of this, for people looking to save on your business taxes, the IRS is set up in such a way that it provides a series of tax breaks aka deductions for individuals and business owners alike.
BurklandAssociates
DECEMBER 10, 2020
The COVID-19 pandemic has profoundly impacted the economy, but it has also had the unintended consequence of accelerating a range of hugely disruptive macro trends already in place. One of Read More. The post FinTech: The Startup Sector to Watch in 2021 appeared first on Burkland.
RogerRossmeisl
DECEMBER 28, 2020
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you can cash in on depreciation tax savers such as §179 for business property. The election provides a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time.
TaxConnex
DECEMBER 31, 2020
Your employees (like all of us) have more than enough headaches on all fronts headed into the new year. Back in April employees surveyed said that the pandemic is the most stressful time of their entire career. Now more than ever you owe it to your people – and to your business – to ease their problems when you can. If you handle sales tax compliance in house, you’ve got your employees handling an unbelievably complex business function – and with 65% of businesses planning to grow across state l
Speaker: Jennifer Hill
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
PYMNTS
DECEMBER 18, 2020
Facebook’s Libra might be fading a bit as a perceived threat to monetary systems that have been in place around the globe for centuries. But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs).
ThomsonReuters
DECEMBER 20, 2020
What is the difference between sales tax and value-added tax (VAT)? Both sales tax and VAT are types of indirect tax – a tax collected by the seller who charges the buyer at the time of purchase and then pays or remits the tax to the government on behalf of the buyer. Sales tax and VAT are a common cause of confusion within the corporate tax community.
MyIRSRelief
DECEMBER 1, 2020
As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. As a result of this, for people looking to save on your business taxes, the IRS is set up in such a way that it provides a series of tax savings, breaks aka deductions for individuals and business owners alike.
BurklandAssociates
DECEMBER 27, 2020
Burkland has a robust and growing FinTech practice led by Steve Lord out of our New York office. Burkland’s FinTech CFOs, controllers, accountants, and tax advisors are well-versed in the Read More. The post Recommended Resources for FinTech Startups appeared first on Burkland.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
RogerRossmeisl
DECEMBER 28, 2020
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, a decision to maximize your 401(k) Plan can be a smart way to build a substantial sum of money. If you’re not already contributing the maximum allowed, consider increasing your contribution rate. Because of tax-deferred compounding (tax-free in the case of Roth accounts), boosting contributions can have a major impact on the size of your nest e
TaxConnex
DECEMBER 10, 2020
States may be getting tougher on sales tax delinquents as the pandemic drags on and tax revenues, in many places, take hits. Just ask Fiorella’s Landscaping in western New York. The Buffalo, N.Y.-area company must pay back more than $95,000 after pocketing sales tax money owed to the state, according to authorities. The company has paid nearly $69,000 in restitution for sales tax it collected and failed to pay to state coffers between June 2011 and December 2015.
PYMNTS
DECEMBER 28, 2020
Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years. According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a di
ThomsonReuters
DECEMBER 19, 2020
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, PL 116-136) made substantial changes to the Code Sec. 163(j) business interest expense deduction limitation. With all the changes made to the Code in 2020 due to COVID-19, it is worthwhile to review Code Sec. 163(j) both pre- and post-CARES Act changes. What is the 163(j) limitation?
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
Patriot Software
DECEMBER 13, 2020
As the year comes to a close, you might be gung-ho about all the goals you want to achieve in next year. But before you can get the ball rolling in the new year, you have to wrap up some things in the current year—including your payroll. There are a number of timely payroll requirements […] READ MORE.
Withum
DECEMBER 9, 2020
Nothing lasts forever unless someone does the best they could to make it last and they have the wherewithal to do it. People don’t last but some of what they accomplished might.
RogerRossmeisl
DECEMBER 12, 2020
Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). Or perhaps you already have an HSA. It’s a good time to review how these accounts work since the IRS recently announced the relevant inflation-adjusted amounts for 2021.
TaxConnex
DECEMBER 3, 2020
Alpharetta, GA - TaxConnex, Inc today released the results of a new survey finding that the increasing sales tax complexities, growing nexus, limited resources and additional audits are among the top worries of financial professionals in 2021. The nationwide survey, conducted by Porter Research Group in November of 2020, is composed of responses from 100 top finance professionals on their thoughts and experiences in managing sales tax.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
PYMNTS
DECEMBER 23, 2020
Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. According to the release, Santander allegedly knew that it provided incorrect consumer data to the three major credit reporting agencies (CRAs). Santander is an originator and servicer of non-prime auto loans and leases and provides credit information to CRAs via monthly data files, according to the CFPB
ThomsonReuters
DECEMBER 23, 2020
IRS Notice 2021-02 (Dec. 22, 2020); IRS News Release IR-2020-279 (Dec. 22, 2020). Notice. News Release. The IRS has announced the 2021 standard mileage rates for business, medical, and other uses of an automobile, and the 2021 vehicle values that limit the application of certain rules for valuing an automobile’s use. For 2021, the business standard mileage rate is 56 cents per mile (a 1.5 cent decrease from the 57.5 cents rate for 2020), and the rate when an automobile is used to obtain medical
Withum
DECEMBER 21, 2020
“Zoom is not my thing” was a response to an invite I sent to a friend for a program I organized that I thought he would enjoy. He is not the only person I know that doesn’t do Zoom.
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