September, 2021

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Sales Tax for Subscription Boxes

TaxConnex

Over the past few years, subscription boxes have increasingly grown in popularity. This method of selling products delivers packages right to customers. Buyers sign up for regular delivery of everything from food, makeup, music, books, pet supplies, flowers, clothes and more. This industry has ridden the wave of e-commerce and the growing expectation among shoppers that much of what they want to buy can come right to their door.

Sales 244
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Fintech Developments in the Startup Ecosystem

BurklandAssociates

As Fintech continues to be a top destination for VC capital, the sector is driving key developments across the startup ecosystem. According to Pitchbook data, some $1.354B went into 40 Read More. The post Fintech Developments in the Startup Ecosystem appeared first on Burkland.

Account 147
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ABLE Accounts May Help Disabled or Blind Family Members

RogerRossmeisl

There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related expenses. Who is eligible?

Account 173
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3 Common Hacking Techniques and How to Avoid Them

Withum

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Welcome Caitlin Wyatt!

SMBAccountant

You may have noticed a new name popping up on emails from our office in the last few months. That’s right, the SMB team has recently grown by another member, and we thought it was finally time to formally introduce her! Caitlin Wyatt joined the team this past July as a bookkeeper. She has been helping with much of the behind-the-scenes administrative tasks at SMB, as well as helping with monthly reconciliations, running payroll, and learning how to build DCAA compliant budgets, to name a few thi

Florida 130
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Tax & Accounting Service – Preparation, Planning, Representation

MyIRSRelief

Tax Help? IRS – FTB – CDTFA – EDD tax help. . We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as: – Back Taxes . – Tax Levy – we release wage and bank levies. – Tax Audits. – Tax Appeal. – Unfiled Tax Returns – 1040, 1120, 1065. – Negotiated Tax Settlements. – Tax Liens. – Offer in Compromises. – Tax Planning & Tax Preparation. ̵

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Monthly SaaS Contracts vs. Annual

BurklandAssociates

How Much More Should I Charge Monthly SaaS Contracts? One of the most overlooked benefits of a subscription business model is the positive cash flow impact of having annual contracts Read More. The post Monthly SaaS Contracts vs. Annual appeared first on Burkland.

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Which are the Most Private Browsers?

RogerRossmeisl

As posted to the Naomi Brockwell YouTube Channel on 4/30/21 (Run Time: 8 min, 13 sec) In this informative video from her Privacy Series, Naomi Brockwell compares the most popular browser options available to help you make an informed decision as to which will work best for your personal situation. With web browsers being your interface to the Internet, it is not surprising that they become the target of companies or hackers who want to collect information about you.

CPA 220
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It’s a Good Time to be a Good Listener…

PANALITIX

RESOURCES / ARTICLES. It’s a Good Time to be a Good Listener…. If you really want to help clients, just listening to them is not enough. You need to ‘hear’ what they are communicating, which takes empathy and energy. This concept is very well-explained by a Panalitix client based on his own experience. For more on Effective Listening, read on…. We work with many accountants trying to sell ADVISORY services to clients.

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Tax Proposals and the Potential Impact to Estate Planning

Withum

Tax 126
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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Whittier 911 Urgent accounting help

MyIRSRelief

This article is for business owners who need emergency bookkeeping, accounting services to catch up on back years and unprepared books. Many Whittier, Los Angeles, Orange County, and other businesses find themselves at a critical time financially due to Covid-19. The only true way to survive is to realize that you need professional CPA, EA help, finding the right help is the key.

Account 130
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Why So Many Filing Frequencies?

TaxConnex

When attempting to manage your sales tax obligations across many different states, one of the first things to hit you will be the dizzying number of deadlines you must follow when filing sales tax returns. Due dates can include the 7 th , 10 th , 15 th , 20 th , 30 th and the last day of the month. Determining factors. Generally, the higher the volume of tax you’ll be reporting, the more often you have to file and remit.

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How to Measure Marketplace Success: Stage 1, Marketplace Metrics

BurklandAssociates

Every marketplace is different, but at its core, each marketplace has a seller (supply) and buyer (demand) side, acting as an intermediary to bring them together. The metrics VCs use Read More. The post How to Measure Marketplace Success: Stage 1, Marketplace Metrics appeared first on Burkland.

Account 130
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Will you Owe Tax on Profits from Selling Your Personal Residence?

RogerRossmeisl

Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was: $411,200 in the Northeast, $275,300 in the Midwest, $305,200 in the South, and $508,300 in the West. Be aware of the tax implications if you’re selling your home or you sold one in 2021.

Tax 217
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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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When Does the Premium Subsidy End for a Biweekly COBRA Billing Cycle?

ThomsonReuters

QUESTION: We understand that the COBRA premium subsidy is set to expire on September 30, 2021. Does this mean the subsidy will be cut off on that date regardless of a plan’s COBRA billing cycle? ANSWER: In general, the COBRA premium subsidy for an assistance eligible individual (AEI) ends on the earliest of (1) the end of the AEI’s maximum COBRA coverage period; (2) the first month after the AEI becomes eligible for other disqualifying health coverage; or (3) September 30, 2021 (the end of the

Tax 110
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Taxing Topics Podcast – Prepare for What’s Ahead

Withum

Tax 124
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Tax Basis Method for Partnerships: The Transactional Approach

CTP

At the end of 2020, the IRS announced important changes to their compliance rules for partnerships. Starting with tax year 2020, partnerships must report their capital accounts using the tax basis method. Capital accounts show the equity in a partnership owned by each partner, including items like initial contributions made by each partner, business profits […].

Tax 98
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Prices, Shipping, Growth: New Trends in E-Commerce

TaxConnex

How much are consumers spending online, and what do merchants pay for shipping in relation to the overall revenue from those e-commerce orders? These are just two questions answered in the recent 2021 E-Commerce Shipping and Fulfillment Benchmarks Report. Sourced from Shippo customers of all sizes and across industries, results cover average orders for different products, shipping expense and overall growth of e-commerce over the past two years.

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Building a Business Case for Finance Automation

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.

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SaaS Metrics Simplified, Part Two: Optimize & Scale

BurklandAssociates

(This article is Part II of SaaS Metrics Simplified. Also see Part I, Launch Metrics.) To truly understand your SaaS company’s performance, you need to go beyond standard financial metrics, Read More. The post SaaS Metrics Simplified, Part Two: Optimize & Scale appeared first on Burkland.

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Tax Breaks to Consider During National Small Business Week

RogerRossmeisl

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. 1. Claim bonus depreciation or a §179 deduction for asset additions Under current law, 100% first-year bonus depreciation is available for qualified new and used property that’s acquired and placed in service in calendar year 2021.

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IRS’s Draft 2021 ACA Reporting Forms and Instructions Incorporate Some Expected Changes, Omit Others

ThomsonReuters

Draft 2021 Forms 1094-B, 1095-B, 1094-C, and 1095-C; Draft 2021 Instructions for Forms 1094-B and 1095-B; Draft 2021 Instructions for Forms 1094-C and 1095-C. Draft Form 1094-B. Draft Form 1095-B. Draft Form 1094-C. Draft Form 1095-C. Draft B Form Instructions. Draft C Form Instructions. The IRS has released draft Affordable Care Act (ACA) information reporting forms and instructions for 2021.

Tax 98
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IRS Extends Filing and Payment Dates for 10 Counties in New Jersey and 7 Counties in New York

Withum

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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The Best Small Business Bookkeeping Solutions

xendoo

As a small business owner, your time is best spent on the revenue-generating features of your business— not hunched over a computer screen scrolling through QuickBooks! . Thankfully, a reliable bookkeeping solution is just a click away. What should you look for in an accounting or bookkeeping service? Today, we’ll highlight five of the best small business bookkeeping service solutions.

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Understanding Your Sales Tax Obligations as a Technology or Software Company - A Checklist

TaxConnex

Sales and use tax generally applies to the sale or use of tangible personal property and certain services. Since software, and especially Software-as-a-Service, may not be delivered in a tangible form, many technology and software companies have considered themselves exempt from sales and use tax. But this is not always the case. In fact, many states impose sales and use tax on services provided by the technology industry.

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Mazuma Launches Keep Going Podcast, $10,000 Giveaway for Business Owners

MazumaBusinessAccounting

A new podcast launch and a $10,000 giveaway—there’s no question that Mazuma USA has an exciting grand finale planned for their 10-year anniversary. On October 11, 2021, Mazuma will launch Keep Going , a podcast that shares the struggles, insights, and everyday triumphs of business owners. In addition, Mazuma plans to give away $10,000 to help one business owner on their own business journey. “As we geared up for this 10-year milestone, we kept thinking about our journey to this point

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Tax Consequences of Employer Provided Life Insurance

RogerRossmeisl

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable income tax implications. Tax on income you don’t receive The first $50,000 of group term life insurance coverage that your employer provides is excluded from taxable income and doesn’t add anything to your income tax bill.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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What Are the Typical Steps in a DOL Audit?

ThomsonReuters

QUESTION: Our company sponsors an ERISA health plan and has received a request from the DOL for plan-related documents. Is this an audit, and what should we expect if it is? ANSWER: The request for documents probably does signal the beginning of a DOL civil investigation (often referred to as an “audit”). You should address this inquiry without delay, as a prompt and cordial response can establish a positive rapport with the investigator.

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IRS Extends Filing and Payment Dates for New Jersey, New York, and Pennsylvania

Withum

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The Franchise Landscape

xendoo

On the heels of Covid lockdowns and quarantine, we are seeing unprecedented levels of interest in business ownership with much of this interest coming through the avenue of franchising. Year-to-date, our client placements have increased well over 50% vs. 2020, which despite Covid, saw similar levels of expansion over 2019. The vast majority of these placements have come in industries outside of food and lodging, which we will touch on later.

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What's New in State Sales and Use Taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. State Revenue Updates. Dire forecasts of states’ plunging sales tax revenue in the age of COVID continue to be proven wrong. Florida, which recently instituted economic nexus, is expected to beat pre-pandemic forecasts for general-revenue collections by about $1.2 billion for this fiscal year and $1.2 billion for next year – with online sales taxes making up a s

Sales 245
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Cash Flow Secrets Every Upskilled CPA Should Know

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.