RogerRossmeisl
NOVEMBER 27, 2020
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax responsibilities of COVID-closed businesses that must be met. Of course, a business must file a final income tax return and some other related forms for the year it closes.
SMBAccountant
NOVEMBER 19, 2020
Indirect rates are not exclusive to government contractors. As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service. This typically includes direct labor (hours spent on the billable task) and direct materials (materials used on a billable task).
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BurklandAssociates
NOVEMBER 30, 2020
Many have asked for the latest update on PPP forgiveness. There are a few Burkland clients who have submitted their PPP forgiveness application, were approved, and had their loan fully Read More. The post PPP Forgiveness & Tax Update appeared first on Burkland.
PYMNTS
NOVEMBER 23, 2020
Western Union just took another big step toward ramping up its growing digital payments arsenal. The legacy global remittance giant said on Monday (Nov. 23) that it has expanded its real-time digital payout capabilities in a move that encompasses billions of bank accounts in 100 countries. Western Union first unveiled the goal of expanding digital payments to 100 countries during its investor day event in 2019.
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.
Withum
NOVEMBER 4, 2020
A frequent question I get from clients that want to sell their business is “What can I expect to net from selling my business?” That’s a good question, but a better question might be “What cash flow can I expect from what I net from selling my business?”.
ThomsonReuters
NOVEMBER 30, 2020
The new Thomson Reuters podcast, Tax & Tech Talks explores the evolving inter section of tax and technology. Each episode explores current issue s or topic s , giving listeners an opportunity to gain a deeper understanding and new perspectives in tax and tech. We chat with top subject matter experts and industry leaders as we break down these top-of-mind topics. .
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
SMBAccountant
NOVEMBER 4, 2020
When operating a small business, sometimes it is easy to avoid administrative tasks that seem unnecessary for a business of your size, such as implementing a total quality management plan. Though it may feel excessive in the beginning, that is exactly when you want to start! It is much easier to build a program as you grow rather than try to implement one later.
FusionCPA
NOVEMBER 2, 2020
You need to be careful when it comes to your real estate investment firm accounting. The way that you do your real estate investment firm bookkeeping either hinders or allows you to analyze your business’s financial health. If you are not experienced in bookkeeping or using real estate CPAs , it is recommended that you spend a great deal of time becoming familiar with the capabilities of your QuickBooks Online account before you get started.
PYMNTS
NOVEMBER 5, 2020
As the B2B commerce landscape innovates, it is continually after that "Amazon-like" experience forged in the consumer commerce world. But for B2B vendors and suppliers, the unique needs of corporate customers cannot be ignored, making a consumer-like buying experience particularly complex. Pricing and payments are two key areas that tend to look vastly different in the B2B world than in the consumer arena.
Withum
NOVEMBER 16, 2020
A client just asked me about terminating his 401k and I think it affects many people, so I am posting my response here (and he is getting free advice from me for this). I answered in sections included.
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.
ThomsonReuters
NOVEMBER 25, 2020
In April, I published a post, The Coronavirus pandemic: Executive pay cuts a sign of the times , highlighting companies across multiple industries that were making downward adjustments to the compensation of their executives and board members to help stay afloat in response to the crisis. The burning question is how will companies approach executive pay after the crisis?
Katz,Sapper&Miller
NOVEMBER 20, 2020
This week, the IRS issued Revenue Ruling 2020-27, which dictates the timing of the non-deductible nature of eligible PPP loan expenses. Many had hoped that by delaying the loan forgiveness application – and, as a result, PPP loan forgiveness – until 2021, calendar-year taxpayers could shift the non-deductible event forward a year. We now have the IRS’ position on this issue: If there is a reasonable expectation of forgiveness, borrowers are out of luck.
CapataCPA
NOVEMBER 10, 2020
New Text Phishing Scam The Security Summit (a partnership of the IRS, private sector, and state tax agencies) has released a warning to taxpayers about a new COVID-related scam that deceives people into providing their bank information. The scam is generated by a text message claiming the person has received the $1,200 Economic Impact Payment (EIP).
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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.
PYMNTS
NOVEMBER 23, 2020
Consumers are moving to digital payments and cryptocurrency in droves, and it’s inevitable that more central banks will issue digital forms of currency, PayPal CEO Dan Schulman said in a televised interview on Monday (Nov. 23). “There's no question that people are flocking to digital payments and digital forms of currency,” Schulman told CNBC’s “Squawk Box.”.
Withum
NOVEMBER 12, 2020
Sy passed away last week. We met when we were sworn into the National Guard in 1965, and became friends during basic and then advanced training. We later became partners and remained friends after I left to form a smaller less hectic practice. And now we cannot share any more stories, memories, updates and talks looking forward to our more relaxed futures.
ThomsonReuters
NOVEMBER 25, 2020
Due to the unfortunate circumstances revolving around COVID-19, firms are now dealing with the need to advise accounting clients through bankruptcy. There have been regulation changes around bankruptcy, and as small to medium size businesses face shutdowns and various other factors, indebtedness is a real issue that several businesses are facing. In this episode of Pulse of Practice “Let’s talk bankruptcy” Paul Miller, CPA from Business by Design , and I are joined by Steve Nickles, Law Professo
Katz,Sapper&Miller
NOVEMBER 18, 2020
In a year of unpredictable outcomes and business projections, the manufacturing industry took a hit early in the COVID-19 pandemic but is bouncing back to end the year strong.
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
KROST
NOVEMBER 2, 2020
On March 13, 2020, President Trump declared a national emergency disaster, related to the COVID-19 virus 1. Following the declaration, under the new tax law (TJCA), taxpayers can claim a business casualty loss related to the disaster on either their 2019 original/amended return or their 2020 return. Some examples of losses that may qualify, but are not limited to the following: Inventory impairment such as food spoilage for restaurants who had to shut down.
PYMNTS
NOVEMBER 25, 2020
The age of artificial intelligence (AI) is upon us, where data feeds and models are used in the service of everything from verifying the digital identity of remote users to approving or denying a bank loan application. But Labhesh Patel , chief technical officer and chief scientist at real-time identification firm Jumio , told PYMNTS in a recent interview that AI-underpinned models are only as good as their underlying training datasets.
Withum
NOVEMBER 23, 2020
My guess is that only about 25,000 estate tax returns would be filed for those dying in 2020 and who left estates large enough to pay estate tax. So for most people, this is not a concern. However, for those with sufficient assets, this is a very serious matter.
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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.
ThomsonReuters
NOVEMBER 19, 2020
IRS Information Letter 2020-0024 (Sept. 8, 2020). Available at [link]. The IRS has released an information letter responding to an inquiry from a qualified transportation plan participant with unused transit benefits. Explaining that he was now driving to work instead of taking public transportation due to the COVID-19 pandemic, the participant asked whether his unused benefits could be rolled over to a parking account.
PYMNTS
NOVEMBER 23, 2020
HSBC is introducing a new real-time payments tool that will enable its 14 million international customers to transfer funds through a single account in 20 countries around the globe. “As the world’s leading international bank, it is our ambition to put banking in our customers’ pockets, and create a top-tier borderless banking experience that lets them manage their finances whenever and wherever they want,” Matthias Dekan, head of HSBC Global Money, HSBC Group, said in a statement on Monday (Nov
PYMNTS
NOVEMBER 10, 2020
The use of artificial intelligence (AI) and machine learning (ML) isn’t some futuristic idea. It’s here now and being used to make good banks better — whether to eliminate discrimination in lending decisions, add stability to existing screening systems or drive loan growth and profits. “It’s not an idea, it’s not a postulate. It is a fact — and we can prove it,” Zest AI CEO Mike de Vere told PYMNTS in a recent interview.
PYMNTS
NOVEMBER 12, 2020
Payments Canada is teaming up with Mastercard’s Vocalink for clearing and settlement for the country’s new real-time payments system, the Real-Time Rail (RTR). Delegated by the Canadian Government, Payments Canada is responsible for the clearing and settlement infrastructure, processes and rules. The RTR is the foundation of Payments Canada’s plans to modernize the payments infrastructure in the country. .
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.
PYMNTS
NOVEMBER 3, 2020
There’s no shortage of pain points to catalog from the past six months: A global pandemic, worldwide economic disruption, record-breaking unemployment, an invasion by murder hornets — the hits never seem to stop. But the running theme through all of the frustration that 2020 has created is uncertainty and the feeling that one never quite knows what’s going to happen next.
PYMNTS
NOVEMBER 24, 2020
Bitcoin continued its price climb today (Nov. 24), rising above $19,000 in the morning, CNBC reported. At 6:31 pm EST, the digital currency still hit high, sitting at $19,083.92, as the coin approaches its record price of $19,783, which it hit in December of 2017. While that price apex was followed by a bubble burst and bitcoin fell to $3,122 in 2018, analysts and crypto fans predict this wave is different.
PYMNTS
NOVEMBER 23, 2020
Visa has wrapped up its acquisition of Latin American FinTech YellowPepper , the first deal of its kind by the financial giant in the region. In an announcement of completion of the deal, Visa said it will accelerate the global payments and credit card company’s “network of networks” strategy. Under that strategy, Visa is pushing to become a “single point of access for initiating multiple transaction types” while also laying the foundation for the “secure movement of money.”.
PYMNTS
NOVEMBER 20, 2020
African FinTech Chipper Cash has landed a whale of an investor. Chipper CEO Ham Serunjogi confirmed on Twitter the startup, which got its initial foothold in the market as a peer-to-peer (P2P) payments service, has just wrapped up a $30 million Series B round of venture capital. And among the investors was none other than multibillionaire Amazon Founder and CEO Jeff Bezos, who participated through Bezos Expeditions, his personal venture capital fund.
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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.
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