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Accounting Today
AUGUST 26, 2022
August, 2022
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3 Tax Breaks for Small Businesses
RogerRossmeisl
AUGUST 28, 2022
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. But it’s not available to C corporations or their shareholders.
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What is the importance of Bank Reconciliation in Business?
Simple Accounts
AUGUST 19, 2022
You might have heard the term ‘Bank reconciliation’ multiple times but did not bother to go in-depth to find out what it is. If you are someone who is in the business game or who is interested in such details, you might know this. Let us see what it is and how it helps in your business in the simplest way. . Bank Reconciliation: Definition . Bank reconciliation is the process of identifying, comparing, and matching your financial records and bank statements.
Forecasting Failures Are Costly: Here's How To Fix Them
Speaker: Dave Sackett
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Sales tax is a tricky world
TaxConnex
AUGUST 11, 2022
A few recent developments – including scams and fine definitions –across the country show how sales tax compliance can be complicated. New York: An appeals court ruled last month against a company that claimed eligibility for sales tax refunds on several purchases of concrete. The petitioner argued that its purchases of concrete were for a nontaxable service provided by the seller that would also provide the installation of capital improvements to real property, rather than a taxable delivery of
Signs Your Accounting Inbox Needs a Workflow Overhaul
Lockstep
AUGUST 3, 2022
When you are just starting out, using email to manage the inflow of communications and documents to/from customers and vendors makes sense. You are building relationships and managing invoices with a personal touch. This might help you get paid a bit faster. With a manageable number of clients and vendors and a small team, basic accounting inbox tools are good way to collect and store correspondence and the exchange of invoices, payment receipts, etc. .
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Does the Kiddie Tax Affect Your Family?
RogerRossmeisl
AUGUST 23, 2022
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your higher tax bracket and place it in the lower tax brackets of your children. While some tax savings are available through this approach, the “kiddie tax” rules impose substantial limitations if: The child hasn’t reached age 18 before the close of the tax year, or The child’s earned income doesn’t exceed half of his or her s
Keepin’ It in the Family: 10 Tips for Hiring Your Child
Patriot Software
AUGUST 25, 2022
Do you daydream about working with family members? You may consider hiring your child if you’re a small business owner. That way, you can show them the ins and outs of your business and the importance of hard work. At the same time, you gain an extra set of hands to get tasks done (win-win-win!). […] READ MORE.
Why Accountants Should Be Using the Cloud | Canopy
Canopy Accounting
AUGUST 15, 2022
Cloud computing is the process of delivering hosted services using the internet. In a short time, cloud computing has emerged as an efficient and advanced way to boost the success of just about every type of business. Accounting firms are not alone in harnessing this practice and many are seeing tremendous savings in time and money.
10 Critical Elements Your Website Must Employ Today
DuctTapeMarketing
AUGUST 10, 2022
10 Critical Elements Your Website Must Employ Today written by John Jantsch read more at Duct Tape Marketing. Many people assume that a website's purpose is to get new clients. Just create high-quality product pages, write a little content, add a CTA button then sit back and see if it works. Yet the primary goal of a website isn’t only to obtain new clients.
Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
App purchases and sales and use tax
TaxConnex
AUGUST 30, 2022
Many tech companies consider themselves a service provider exempt from sales and use tax. But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps. A mobile application, or app, is a program or software application to run on a mobile device.
Write-back Options in Power BI – Not Everything is Equal
Acterys
AUGUST 12, 2022
Over the last 7 years, Power BI has developed into the predominant self-service analytics solution. It was b uilt for analyzing data, but the visualization and data modelling capabilities also make it the perfect platform for collecting data down to very sophisticated x P&A ( Extended Planning & Analytics) processes. The key arguments here are not just the unsurpassed visualization options that also enable dramatic improve ments for planning processes but also the ease of deployment and
JB Straubel on Recycling EV Batteries to Create a Closed-Loop System
RogerRossmeisl
AUGUST 28, 2022
As posted to the Redwood Materials YouTube page on 8/11/22 Run Time 41 minute, 15 seconds In this clip, JB Straubel, Founder & CEO of Redwood Materials and Tesla co-founder & former CTO details how recycling lithium-ion batteries will cost effectively help EV demand & supply chain needs. Of concern however is that legacy automotive manufacturers haven’t “done the math” on attaining the raw materials needed to produce batteries in their transition to electric vehicles, and skepticism
Employee Documentation: Tips & Examples to Save Your Startup Money
BurklandAssociates
AUGUST 23, 2022
Employee documentation can help your company raise that next round of funding and mitigate any allegations of unfair employment practices. The post Employee Documentation: Tips & Examples to Save Your Startup Money appeared first on Burkland.
Book of Secrets on the Month-End Close
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Cyber Insurance Requires Implementation of Controls
Withum
AUGUST 22, 2022
Many organizations have been surprised when they find that cyber insurance premiums have gone up and they now have less coverage. Some organizations are not able to renew their insurance pending proof of meeting the insurance company’s requirements that they have the controls needed to protect and defend themselves against cyberattacks. In another organization, a cyber insurance company denied their renewal because they could not clearly identify their cyber risk which the insurance company stat
Can remote employees create sales tax nexus?
TaxConnex
AUGUST 18, 2022
A lot of times regarding sales tax, the answer to any question is, “It depends.” This is another of those times. And then some. Covid created unique conditions for companies that must collect and remit sales tax, including many temporary breaks regarding worker locations. At the same time, the pandemic turned remote work from an occasional perk to a standard way of operating a company.
August ‘22 Acterys Product Updates
Acterys
AUGUST 25, 2022
This month, we are again releasing major improvements for Acterys. Our development team has been pretty busy working on significant functionality improvements and new features to make your experience with our products better in terms of speed, usability, security, and ease of use. We have added multiple new features, new Apps, upgraded Power BI visuals with refined functions, and enhanced overall application security.
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Speaker: Anna Tiomina, MBA
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The Auto Industry is Likely to Decline in Enterprise Value
RogerRossmeisl
AUGUST 23, 2022
Excerpt of an article posted to the ARK Invest website on 7/15/22 According to the research of ARK Invest, during the next five years the auto industry as measured in units will grow, but as measured by enterprise value, it will shrink. In 2021, the number of light vehicles sold globally was 78 million and the enterprise value of automakers, roughly $3.5 trillion.
A Guide to States & Cities with Pay Transparency Laws in 2022
BurklandAssociates
AUGUST 19, 2022
For more information, see HR Dive’s summary with links California California was the first state in the U.S. to legally require employers to provide the pay range for a job—if Read More. The post A Guide to States & Cities with Pay Transparency Laws in 2022 appeared first on Burkland.
New CalCPA chairs plan to focus on diversity, education in accounting
Accounting Today
AUGUST 2, 2022
Do You Have What It Takes to Be an Entrepreneur?
VetCPA
AUGUST 14, 2022
Do you like being in charge of your destiny and are you able to handle stress well? Do you have a great idea for a new business? You may be able to strike out on your own and become the entrepreneur you want to be. Here are some ideas that may help clarify your thinking and help you decide if you could become a successful entrepreneur. What’s Your Personality Type?
New Software & You: Elevating Your Tech Stack
Speaker: Joe Wroblewski, Senior Sales Engineer
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
Why Sales Tax Technology Only Solutions Are Not Enough
TaxConnex
AUGUST 16, 2022
Since the Wayfair decision four years ago, sales tax compliance has had to become a major priority for businesses with multistate sales. In fact, 24% of finance professionals rank one of their top concerns of managing sales tax as keeping up with their evolving nexus footprint, according to a TaxConnex blind survey conducted at the end of 2021. The survey also stated that over 10% of respondents still weren’t fully aware of the impact of Wayfair (economic nexus) on their business.
Write-back Options in Power BI – Not Everything is Equal
Acterys
AUGUST 12, 2022
Over the last 7 years, Power BI has developed into the predominant self-service analytics solution. It was b uilt for analyzing data, but the visualization and data modelling capabilities also make it the perfect platform for collecting data down to very sophisticated x P&A ( Extended Planning & Analytics) processes. The key arguments here are not just the unsurpassed visualization options that also enable dramatic improve ments for planning processes but also the ease of deployment and
How to Avoid the Early Withdrawal Tax Penalty on IRA Distributions
RogerRossmeisl
AUGUST 28, 2022
When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals depending on how old you are when you take them and what you do with the money. Important: Once you reach a certain age, you must start taking required minimum distributions from your traditional IRAs to avoid a different tax penalty.
When To Hire an HR Professional for Your Startup
BurklandAssociates
AUGUST 16, 2022
Consider bringing on HR when you reach milestones like hiring your first out-of-state employees, adding benefits, and creating an employee handbook. The post When To Hire an HR Professional for Your Startup appeared first on Burkland.
The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience
Speaker: Melissa Hurrington
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Unpaid payroll taxes Help – Los Angeles, CA local representation firm
MyIRSRelief
AUGUST 1, 2022
According to the most up-to-date US Tax Code, all US-based business employers are required to file employment 941 / 940 Payroll Tax forms with the IRS every quarter and year-end at a prescribed date. These employment reporting forms goes along with all of the necessary payments that are made to the IRS throughout the year. When a Los Angeles, CA business employer runs afoul of the IRS, it is very important to know that it is serious and you should seek out professional help from a representation
5 reasons you need continuity in a sales tax provider
TaxConnex
AUGUST 25, 2022
Consistent (i.e., “good”) service is a nice thing to have in any industry. In a field that changes as fast as sales tax, it’s a necessity. But providers have their own business priorities as well and if customer service isn’t at the top of their list, changes could end up harming you. Maybe they’ve priced themselves out of your range or discontinued the service you need, or have become too big to match your specific needs.
Acterys Power BI App Contest: The Dashboard Challenge Begins!
Acterys
AUGUST 4, 2022
Calling all Acterys partners! It is time to unleash the Power BI wizard in you – wield your magic staff to build and showcase outstanding dashboards. Acterys is bringing you, the first of many to come, the Acterys Power BI App Contest. Use this opportunity to boast your skills and expertise in building stunning reporting and analytic solutions using Power BI.
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
Speaker: Yohan Lobo and Dennis Street
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.
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