TaxConnex

JUNE 29, 2021

A voluntary disclosure agreement (VDA) is a legal means for taxpayers to self-report back taxes owed for income, sales, property, and other tax types. In exchange for voluntarily reporting the tax due, states offer a waiver of some penalties and other benefits to the business. If back taxes are not disclosed but are instead discovered through an audit, the taxpayer is at a disadvantage and will end up being assessed various penalties plus interest plus all historical tax due.

audit 233

audit Tax Sales Legal 233

RogerRossmeisl

JUNE 25, 2021

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is covered under a “high deductible health plan.

accountant 130

accountant Account accounted CPA 130

PANALITIX

JUNE 14, 2021

RESOURCES / ARTICLES. Best Practices for . (Annual) Strategy Meetings. Partners, owners and/or managers of accounting businesses need to work on business strategy from time to time. These sessions can be hugely productive or… frankly… a waste of time. In this article we look at some best practices in strategy meetings which will help you get the best outcomes. .

Start-ups 130

Start-ups tax planning Tax accountant 130

BurklandAssociates

JUNE 2, 2021

VC deal flow to Consumer startups accounted for well over 40% of all venture deals in 2020 and a whopping 46.6% in Q1 2021. The post VC Deal Flow Was Dominated by Consumer Startups in 2020 appeared first on Burkland.

accountant 147

accountant Account accounted 147

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

Account

MyIRSRelief

JUNE 14, 2021

Running a corporation is not easy. There are many challenges that you will face, some of which you may not even expect until they happen. And while no one is perfect, you can minimize potential problems if you do the basics. This means surrounding yourself with the best personnel, including the right Los Angeles CPA or EA tax firm that can do so much for your needs.

tax return 130

tax return CPA bookkeeping tax consultant 130

GrowthForceBlog

JUNE 2, 2021

Summer is here- which means sunshine, the smell of freshly mowed grass, and some much-needed downtime is right around the corner. But as a business owner, it's much more than that. For some, the approaching summer translates to a slow and lean period. For others, business is booming. Whichever category your small or medium-sized business falls into, the summer months offer some unique opportunities, as well as challenges, that all businesses need to prepare for ahead of time.

129

129

RogerRossmeisl

JUNE 9, 2021

Bad faith denials of claims by insurers are illegal, but some dishonest companies or agents attempt them anyway. It’s possible that just when you have the greatest need, you’ll find yourself out in the cold. Unfortunately, there aren’t a lot of great legal remedies. So it’s critical to avoid unreliable and fraudulent insurance coverage in the first place.

Legal 244

Legal CPA 244

PANALITIX

JUNE 20, 2021

RESOURCES / ARTICLES. Best Practices for . (Annual) Strategy Meetings. Partners, owners and/or managers of accounting businesses need to work on business strategy from time to time. These sessions can be hugely productive or… frankly… a waste of time. In this article we look at some best practices in strategy meetings which will help you get the best outcomes.

Start-ups 130

Start-ups tax planning Tax accountant 130

BurklandAssociates

JUNE 29, 2021

The investment environment is tilted in favor of startups right now. And that means there’s a high likelihood you’ll be able to raise capital — in fact, it’s as high Read More. The post Evaluating Fit Between Entrepreneur and Investor appeared first on Burkland.

130

130

MazumaBusinessAccounting

JUNE 18, 2021

If you’re wondering, “How many years can I take a loss on my business?” then you’re probably reaching a point where you’ve been claiming too many losses on your taxes. The Internal Revenue Service (IRS) only allows your business to be in the negative for a certain number of years before it declassifies it as a business.

audit 105

audit Tax accounting and finance Finance 105

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Account

xendoo

JUNE 30, 2021

Partnering with Gusto today means a better tomorrow for Xendoo customers. As a small business owner, you juggle multiple roles… bookkeeping, human resources, marketing, and all that goes into running your business every day. You love what you do and wish you could leave the complicated, boring stuff out of your day-to-day. Xendoo feels your pain, we recognize that bookkeeping and payroll are integral to your company’s operational success and your peace of mind.

bookkeeping 105

bookkeeping payroll payroll tax Tax 105

TaxConnex

JUNE 1, 2021

Collecting and remitting sales tax can be onerous – and expensive – for any business. That’s one reason some states give a collection discount to help with the costs of managing sales tax. States offer it as a way of helping to pay administrative costs of compliance. And if it sounds like free money, it can be if your company knows how to take advantage of it in states where you have nexus.

Sales 245

Sales South Carolina Tax Utah 245

RogerRossmeisl

JUNE 15, 2021

High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some steps you may be able to take to reduce its impact. The NIIT applies to you only if modified adjusted gross income (MAGI) exceeds: $250,000 for married taxpayers filing jointly and surviving spouses, $125,000 for married taxpayers filing separately, $200,000 for unmarried taxpayers and heads of household.

income tax 237

income tax Tax CPA cpa firm 237

Patriot Software

JUNE 17, 2021

Whether you offer time off or need to process direct deposit, staying on top of legal holidays is a must. And when it comes to Juneteenth, you need to keep updated with the latest federal and state holiday status changes. So, what is Juneteenth, and is it a legal holiday? Get out your reading glasses. […] READ MORE.

Legal 98

Legal payroll 98

Advertisement

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

financial statements

BurklandAssociates

JUNE 23, 2021

Some startups have been blindsided by the ramifications of letting teams work from anywhere and everywhere. Here's what you need to know. The post Legal, Tax & Culture Implications of Remote Work at Startups appeared first on Burkland.

Legal 130

Legal Tax 130

MazumaBusinessAccounting

JUNE 30, 2021

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. Here’s a quick guide that covers important tax deductions for your business. What Will a Deduction Save Me?

Tax 98

Tax Education accounting and finance Finance 98

xendoo

JUNE 25, 2021

Editor’s Note: This post was originally published in November 2019 and has been revamped and updated for accuracy and comprehensiveness. . As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited to do great work for your clients, whether buying or selling pieces of property. .

Real Estate 98

Real Estate accountant Account accounted 98

TaxConnex

JUNE 15, 2021

They said it would be simple. They said they could automate it all, but in fact, you’re still doing a lot of the work. Why are you paying more penalties for missed notices and late payments than you were before you started working with your sales tax vendor? Guess what – we frequently hear these situations from businesses ready to make a switch. The good news is there are other providers that put the client first and ensure sales tax is managed correctly.

Sales 245

Sales Tax audit tax preparation 245

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Sales

RogerRossmeisl

JUNE 10, 2021

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes.

payroll tax 216

payroll tax payroll CPA Tax 216

ThomsonReuters

JUNE 15, 2021

Starting your own CPA firm may seem like a distant fantasy, but with barriers to entry lower than they’ve ever been, it could be closer than you think. If you’ve been wondering if it’s time to break free, here are five signs that you’re ready to be your own boss. You have the experience. Most small CPA firm owners have years of experience working for larger firms and find themselves wanting to utilize that experience to serve clients in their own way.

cpa firm 98

cpa firm tax return CPA Non-Profits 98

BurklandAssociates

JUNE 15, 2021

The online marketplace model is surprisingly lean and scalable, making it a popular choice for investors and new consumer startups. The post Is an Online Marketplace the Best Model for My Startup? appeared first on Burkland.

130

130

MazumaBusinessAccounting

JUNE 4, 2021

Whether you know it or not, you could be leaving hundreds—even thousands—of dollars on the table by missing a few lesser-known small business tax deductions. Entrepreneurs often miss some small business deductions they could qualify for because they didn’t keep accurate records throughout the year, or they shy away from the complications of itemizing each expense.

business tax 98

business tax Tax Entertainment Education 98

Advertisement

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

xendoo

JUNE 6, 2021

Ecommerce is booming. Total revenue will reach nearly $4.6 billion in 2021 and grow at an annual rate of 4.6% over the next five years – reaching $5.6 billion by 2025. It’s easy to see why owners of small and medium businesses are asking themselves how they can get a piece of the eCommerce pie. One popular option—the Amazon small business marketplace. .

bookkeeping 98

bookkeeping Tax Legal Sales 98

TaxConnex

JUNE 17, 2021

Legalization of cannabis and how it would be taxed has been a discussion for many years. But as states continue to pass laws legalizing the sale of cannabis, the businesses trying to capitalize on the market are struggling with the complexities of taxation as it differs from other sales. States that have legalized the sale of cannabis are reaping the benefits.

Legal 159

Legal Illinois Nevada Oregon 159

RogerRossmeisl

JUNE 3, 2021

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19. Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return was due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year).

Tax 213

Tax tax return CPA 213

ThomsonReuters

JUNE 14, 2021

Each year, more than 40 million Schedule K-1 (Form 1065) are sent to US taxpayers, reporting income and other financial information stemming from their participation in partnerships, S corporations, and trusts. Unlike W-2 forms and other IRS-mandated documentation, however, K-1s needn’t be produced in a standard format, so they come in a variety of formats and may include unstructured data, free-form text, footnotes, statements, and disclosures.

Technology 98

Technology corporation tax Tax Real Estate 98

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

BurklandAssociates

JUNE 9, 2021

Customer Success costs are a drag on a startup's Gross Margins, but much less of a drag than losing customers. The post SaaS Customer Success: Gross Margin vs. Churn Trade-Offs appeared first on Burkland.

accountant 130

accountant accounted Account 130

AccountingDepartment

JUNE 9, 2021

Kitti Crawford is our Staff Success Ambassador at AccountingDepartment.com and her main function is to assist our new and tenured staff members with training as they grow into their roles here at ADC. Kitti has been with us since 2006 and has been excelling in her current position for the past 4 years. When Kitti was preparing to start college, she had three career paths that were under strong consideration to pursue.

Maine 98

Maine accounted Account accountant 98

Withum

JUNE 22, 2021

It should mean nothing. Last week the Fed’s comments about inflation caused the stock market to drop. However, yesterday the market seems to have recovered somewhat.

100

100

TaxConnex

JUNE 8, 2021

There’s always something changing in the world of tax, especially sales tax. And 2021 continues to prove that. Here’s a review of some of the recent changes and updates. Biggest news: Missouri will likely soon join fellow holdout Florida in establishing economic nexus requirements. (They were the last two states with a sales tax to set up such requirements.).

Sales 157

Sales Tax Arkansas South Carolina 157

Advertisement

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.