TaxConnex

AUGUST 17, 2021

Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others. Drop shipments are one of those topics. As e-commerce continues to explode – it almost doubled during the pandemic and was already rising sharply nationwide in early 2019 – drop shipment transactions have become even more prevalent. Many companies have added marketplaces on websites and don’t maintain their own inventory for online purchases.

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PANALITIX

AUGUST 15, 2021

RESOURCES / ARTICLES. Exciting Clients…. with Review Meetings! Accountants interpret financials to advise clients, sometimes through ‘quarterly [or monthly] review’ meetings. How do we get clients excited (and willing to invest) in these meetings? They need to see the value and believe in the approach. Then they’ll enter productive, long-term advisory relationships.

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financial statements Education accountant Account 147

SMBAccountant

AUGUST 30, 2021

When applying for government contracts, it’s important to understand the types of contract options that are available to you. Each type of contract carries its own risks and opportunities and can help you make decisions when compiling your proposal. Project managers should work closely with their team to manage resources, track the project’s performance to budget, and communicate with the accounting department to review billing rates to make sure the contract remains profitable.

Government 246

Government audit accountant Account 246

RogerRossmeisl

AUGUST 27, 2021

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults on the loan and you’re required to pay principal or interest under the guarantee agreement, you don’t want to be blindsided.

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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

AUGUST 9, 2021

For any business, the worst thing that can happen is that you can find yourself in a 911 urgent tax help situation. The IRS is known to be the toughest and most ruthless of all collection agencies on the planet. If you ever find yourself in trouble with the IRS, never consider going it alone. There are always avenues for you to turn and they do allow you to have a representative on your side.

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Tax tax return audit business tax 147

BurklandAssociates

AUGUST 3, 2021

Important efficiency metrics for SaaS startups include Sales Efficiency (aka the Magic Number), Human Capital Efficiency, and Capital Efficiency. The post 3 Important Efficiency Metrics for SaaS Startups appeared first on Burkland.

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Sales accountant accounted Account 147

xendoo

AUGUST 5, 2021

Small businesses are making the leap into digitalization to respond to evolving consumer behavior and expectations, adapting to new working norms, putting data to work to drive performance and building business resiliency. The post 4 Reasons Why Digital Transformation Is Table Stakes for Small Businesses appeared first on Xendoo.

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Patriot Software

AUGUST 9, 2021

You know that paying someone comes at a cost. In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.

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payroll tax payroll Tax 111

RogerRossmeisl

AUGUST 4, 2021

Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as a team — all require a certain level of trust. However, too much trust can lead to occupational fraud and conflicts of interest. To maintain the proper balance, establish a policy that outlines your disclosure expectations and require employees to follow it.

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Manufacturing CPA 246

Withum

AUGUST 25, 2021

Friday, I start teaching for the first time at my alma mater, Baruch College. I will be teaching Financial Accounting to non-accounting majors. It will be presented on Zoom to 70 undergraduate students ranging from Freshmen to Seniors and it is a 3:45 PM weekly session for 15 weeks. My quandary is how to keep them engaged, interested and excited.

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financial accounting accountant Account accounted 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

BurklandAssociates

AUGUST 31, 2021

To truly understand your SaaS company’s performance, you need to go beyond standard financial metrics, such as revenue and operating income, and dive into SaaS metrics. Debbie Rosler, Fractional CFO Read More. The post SaaS Metrics Simplified, Part One: Launch Metrics appeared first on Burkland.

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accountant accounted Account 130

TaxConnex

AUGUST 19, 2021

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. In the fall of 2020, I published an article on how the sales tax picture is changing due to COVID-19. Now that we’re over a year into the pandemic, I wanted to provide an update on the sales tax landscape, what predictions have remained the same and what’s changed.

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Sales E-commerce Tax Missouri 245

ThomsonReuters

AUGUST 19, 2021

QUESTION: Our company offers a high-deductible health plan (HDHP), and many participants contribute to their own HSAs. Several have asked about making HSA contributions on a pre-tax basis so they can receive income tax savings every payroll period (instead of waiting until they file their tax returns) and avoid paying FICA taxes on those contributions.

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AccountingDepartment

AUGUST 19, 2021

Not all businesses sell a physical product, but many businesses have inventory that is made up of materials used as a part of a service provided to a customer. In either case, these products and materials need to be accounted for in the warehouse, when they are moved to job sites, and when they are used for a client job or within the production of a larger product.

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accountant Account accounted NetSuite 104

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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

RogerRossmeisl

AUGUST 2, 2021

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a “spousal” IRA. It allows contributions to be made for nonworking spouses.

CPA 244

CPA Tax 244

Withum

AUGUST 19, 2021

Last week I wrote about a cleaner that closed and suggested that if they added a surcharge, it might have saved their business. I gave a copy to my cleaner and she told me I was wrong, and I did not want to argue with her, so I decided to put my thoughts in this follow-up, which I will give to her.

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BurklandAssociates

AUGUST 24, 2021

Many companies find themselves in return-to-work limbo, trying to determine what expectations to set for employees who have been working from home for more than a year. Making these decisions Read More. The post Is “Remote-First” the Future of Work for Startups? appeared first on Burkland.

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TaxConnex

AUGUST 26, 2021

Is it just your imagination or is e-commerce expanding every year? It’s not your imagination. Let’s see some numbers : 5% of global internet users have purchased products online. The e-commerce industry is growing 23% year-over-year (yet 46% of American small businesses still don’t have a website). By 2040, an estimated 95% of all purchases will be through e-commerce.

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E-commerce Sales Tax Missouri 243

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

GrowthForceBlog

AUGUST 12, 2021

8 min read. With COVID hot spots once again dotting the world map and U.S officials rolling out restrictions on social distancing, business owners should be considering what they can do now to prepare for the possibility of a second COVID shutdown.

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MazumaBusinessAccounting

AUGUST 26, 2021

What Is the Hobby Loss Rule? If your business goes too many years without making a profit, it can be classified as a hobby. When it becomes a hobby, you can no longer claim losses as business deductions. In order to determine if you are running a business or a growing hobby, the Internal Revenue Service (IRS) looks at the following qualifications: Do you put in the time to turn a profit?

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RogerRossmeisl

AUGUST 4, 2021

There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called the “Trust Fund Recovery Penalty” and it applies to the Social Security and income taxes required to be withheld by a business from its employees’ wages. Because taxes are considered property of the government, the employer holds them in “trust” on the government’s behalf until they’re paid over.

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income tax CPA Tax Government 244

Withum

AUGUST 11, 2021

I spoke to a friend that was somewhat upset because his cleaner closed last week. He used them for over 25 years. It was very convenient and he got into a routine where he would drop off and pick up his cleaning and laundry, get some bagels if he was there in a morning, or a pizza if he stopped off on the way home from work. There was a drug store in the strip center and he would occasionally stop in there.

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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.

BurklandAssociates

AUGUST 16, 2021

Misclassification of employees and independent contractors is one of the most common pitfalls startups face during a due diligence process. The post Surviving Due Diligence, Part 2: Employee vs. Contractor appeared first on Burkland.

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Tax 130

TaxConnex

AUGUST 5, 2021

Ever had a bad connection on a video conferencing platform? It can be a confusing and frustrating experience. That’s a lot like understanding the taxes on videoconferencing services right now. With the recent boom of video conferencing brought on by the necessity of a way to meet during the pandemic, businesses and governments alike are trying to figure out how to best apply sales tax to these services, or if they are even taxable.

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AccountingDepartment

AUGUST 19, 2021

Growing a business and setting it up for continued growth is a challenge that many new and veteran business owners face. In the start-up phase, a business will typically find itself with basic accounting software, order processing techniques, etc. While these will handle the early stages of a business, with growth comes the need to improve these programs and processes.

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MazumaBusinessAccounting

AUGUST 12, 2021

As a small business owner, there are many decisions you will need to make that will impact your company for years to come. Among these decisions is which corporate entity is best for your business. In this blog, we will review 5 different types of business entities along with their advantages and disadvantages so you can decide which works best for your business.

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tax return Tax Legal business tax 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.

RogerRossmeisl

AUGUST 15, 2021

While Congress develops legislation that would eliminate, and/or otherwise mitigate, the current TCJA implemented state and local tax (SALT) limit on an individual taxpayer’s ability to take the itemized deduction for state and local taxes, California has just passed legislation which offers a work-around that will allow many Californians to mitigate the effects of the current $10,000 federal limitation on SALT deductions.

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California income tax CPA Tax 243

Withum

AUGUST 5, 2021

Comparing taxes among countries is a hobby for some, a talking point for others and an important metric for those that devise strategies or who track foreign trade and investments. However, it is an uneven process. Currencies, tax rates and how they are applied, fluctuating economic conditions, population sizes, governmental restrictions and regulations, the tax base and what is taxed and extraterritorial activities vary making comparisons inaccurate.

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Tax 105

BurklandAssociates

AUGUST 10, 2021

Anupam Rastogi transformed his passion for building and scaling startups into a career in venture capital over a decade ago. He saw venture as a way to bring his skill Read More. The post Anupam Rastogi Shares Insights on Today’s Startup Landscape from an Early-Stage VC appeared first on Burkland.

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TaxConnex

AUGUST 24, 2021

Amazon, eBay and Etsy are more than household names. In the world of sales tax, they’re major marketplace facilitators. A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Think of it almost like a consignment shop.

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Sales South Dakota Tax South Carolina 240

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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.