RogerRossmeisl
MAY 26, 2021
Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pension plan? Two simple retirement savings options to consider are a “simplified employee pension” (SEP) or a “savings incentive match plan for employees” (SIMPLE).
TaxConnex
MAY 25, 2021
Having a full understanding of your sales tax obligations is important for your peace of mind. But, like most things in sales tax, this is easier said than done. It’s difficult enough to keep up with the different economic nexus thresholds per state, but for some states, the revenue thresholds are based on gross sales, and in other states, they are based on taxable sales.
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MazumaBusinessAccounting
MAY 27, 2021
Financial reports can be an incredibly helpful tool for small businesses. They can help you determine how much money you can pay yourself each month. Or they can help you decide if it’s time to expand your business. As helpful as financial reports are, they can only help you if you understand how to read them. Luckily, Ben Sutton, Mazuma’s co-founder and CPA, took the time to explain how an income statement and balance sheet work.
BurklandAssociates
MAY 26, 2021
Jamie Ceglarz joins us to discuss hiring trends and how to attract top talent to your startup in today’s competitive hiring environment. The post How to Hire Top Talent in Today’s Startup Landscape: A Conversation with Jamie Ceglarz with Guild Talent appeared first on Burkland.
Advertiser: Paycor
Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!
RogerRossmeisl
MAY 28, 2021
The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an itemized deduction on your tax return for real estate taxes and home mortgage interest. Most other home ownership costs can’t be deducted currently. However, these costs may increase your home’s “basis” (your cost for tax purposes).
TaxConnex
MAY 27, 2021
Taking advantage of sales and use tax exemptions can save your business money and headaches. But exemptions can be harder to secure in some states than in others. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer. The presumption is that all sales of tangible personal property are taxable without specific and enumerated exemptions.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
MAY 24, 2021
Amidst the backdrop of the pandemic, there’s never been a more important time to highlight Mental Health Month. It’s been a devastating year and while signs point toward a return to normal, the impact of our mental health on our personal and professional lives remains top of mind. From a small CPA firm perspective, the intensity of the workload during this extended tax season is like nothing we’ve seen before, compounding already heightened stress levels.
RogerRossmeisl
MAY 27, 2021
As counterintuitive as it may seem, law firms aren’t immune to criminal activity. Because some firms place enormous pressure on attorneys to produce billable work, they may be particularly vulnerable to fraud. Your firm needs to know what to look for and how to protect itself from potential schemes perpetrated by partners, associates and support staff.
xendoo
MAY 26, 2021
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. . You know that filing taxes can be stressful even in the best of times, but as a restaurant owner, tax time can leave you feeling in the weeds because your deductions are exponentially more complex. Never fear, though, because Xendoo is here to help.
GrowthForceBlog
MAY 26, 2021
5 min read. Last year was a tumultuous time for business. For PR firms, in particular, hanging onto clients was a struggle, because businesses tend to put PR services on the chopping block at the first sign of financial trouble.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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.
AccountingDepartment
MAY 26, 2021
Working from home seems like an absolute dream, right? After over a year of a large amount of the United States’ workforce working from home, or in hybrid environments, many got a taste of that dream and the thought of going back to an in-person office is simply dreadful.
CTP
MAY 25, 2021
One strategy regarding income recharacterization is to shift non-passive income to passive income. Non-passive income is any income earned actively by the taxpayer: wages, salaries, self-employment income, etc. Passive income includes income derived from real estate, limited partnerships, interest in dividends, and more. In summary, passive income is any activity where the taxpayer is not […].
LyfeAccounting
MAY 25, 2021
Quick Inflation Tax Explanation. So new data from the Bureau of Labor Statistics shows that inflation is skyrocketing. The consumer price index is showing that inflation has jumped to 4.2% year over year. So quick math here… Basically, if you had $100 this month last year, well it’s worth about $96 today just based on that 4.2% inflation rate.
Withum
MAY 27, 2021
Phil Mickelson became the oldest person to win a major golf tournament. He was 1 month short of his 51st birthday and is considered “old.”.
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.
AccountingDepartment
MAY 24, 2021
Budget variances are the difference between a planned budget amount and an actual amount. An analysis of budget variances will reveal the reason behind failures. It helps point out the trends to make your company a success. A budget analysis should be performed at least once every quarter at a minimum and when the market changes due to a crisis like COVID-19, it should be done every week.
RitaKeller
MAY 25, 2021
“Ideas are useless unless used. The proof of their value is in their implementation. Until then, they are in limbo.” – Theodore Levitt. To be able to run an efficient and profitable accounting firm you need to do more than talk about the changes you need to make. Talking about change is an active exercise inside firms. Actually, implementing and executing the steps necessary for change is another topic altogether.
LyfeAccounting
MAY 27, 2021
Picture this…. It’s the end of the week and it’s a beautiful day outside. You go to check the mail as usual. Junk. Bill. Junk. Then boom. You see you’ve gotten mail from the Department of the Treasury… aka the INTERNAL REVENUE SERVICE. Your seemingly great day just got turned upside down because now Uncle Sam is knocking at your door. You’re not alone.
xendoo
MAY 27, 2021
Is getting people to pay their invoice balance a challenging part of running your own business? You are not alone. According to a report in Entrepreneur , on average, small businesses had $84,000 in unpaid invoices. Waiting weeks and sometimes months for the checks to arrive and managing cash flow in the meantime can be daunting, to say the least. Since invoicing isn’t the most exciting aspect of your business, we want to share these tips for small business invoicing to help you get paid faster,
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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.
5 Minute Bookkeeping
MAY 27, 2021
What should you do if you are working on a massive QuickBooks Online cleanup and you come across a mysterious balance in an account called Opening Balance Equity on the balance sheet? You probably won’t recall ever adding that account to QuickBooks Online, or categorizing any transactions to/from it. So what is it, and why is it showing up on your balance sheet?
ThomsonReuters
MAY 27, 2021
IRS Webpage: Operational Compliance List (Apr. 27, 2021). Available at [link]. The IRS has updated its Operational Compliance (OC) list highlighting changes in tax-qualification requirements and related guidance affecting the operation of retirement plans. The IRS provides the OC list to help individually designed plans maintain operational compliance by identifying changes in requirements generally effective during a calendar year.
LyfeAccounting
MAY 27, 2021
You want to build your business credit and want to know the most effective and fastest way to do so. Perfect. You are in the right place. Business credit is extremely underrated and overlooked by most businesses even though it is a key ingredient to business success. So in this post, we will be going over what business credit is, and everything you need to know about it.
xendoo
MAY 26, 2021
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. . As a restaurant owner, you have a lot of expenses on your plate every month that a partner like Xendoo can help you manage, such as providing tax tips for restaurants. Like rent and insurance, many of those are fixed and are beyond your control except when it’s time to renegotiate those agreements.
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
FraudFiles
MAY 25, 2021
Tracy Coenen explains exactly what a Ponzi scheme is: an investment scheme in which the promoter takes money from “investors” and promises to invest it. There is little to no real investment, and when it comes time to pay “returns” those investors, the promoter needs money from NEW “investors” to pay them. The promoter is generally stealing from the investors and constantly needs new money to keep the scam going.
ThomsonReuters
MAY 27, 2021
Tyll v. Stanley Black and Decker Life Ins. Program, 2021 WL 1748474 (2d Cir. 2021). In a dispute about life insurance benefits under an employer-sponsored ERISA plan, the Second Circuit has upheld a trial court’s use of the deferential arbitrary and capricious standard of review, ruling that the plan adequately delegated discretionary authority to the plan’s insurer.
LyfeAccounting
MAY 24, 2021
The IRA tax break can put $6,000 into your retirement account, and lower your taxable income by $6,000. And anyone can take advantage of the IRA tax break, regardless of if you’re self-employed or employed at another company. Still, many people are not taking advantage of this simple tax break. And some of the people who are, are being surprised by a huge mistake they are making that is preventing them from taking this tax deduction.
xendoo
MAY 25, 2021
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. . As a restaurant owner, you know very well that managing your expenses can be a real headache. It doesn’t take long for high food or restaurant labor costs to start eating away at your bottom line. Fortunately, Xendoo is here to help.
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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.
Martin Quinn
MAY 24, 2021
Photo by Artem Podrez on Pexels.com. Lean if a termed usually used to describe process efficiency. There are various terms used in the field of “lean” such as l ean thinking , lean manufacturing/production , lean management etc, but to me the easiest way to think of “lean” concepts is to think of the normal meaning of lean – fit, strong and without fat.
ThomsonReuters
MAY 27, 2021
QUESTION: We have heard that there are revised requirements for agreements with plan service providers. As an employer that sponsors an ERISA group health plan, what should we know about the changes? ANSWER: ERISA’s prohibited transaction exemption for plan service arrangements has been amended to add extensive disclosure requirements that apply to certain types of arrangements beginning in December 2021.
LyfeAccounting
MAY 24, 2021
We got some really great news for parents. So monthly payments through the new federal enhanced child tax credit will start on July 15, 2021. This child tax credit will go to close to 40 million households, or roughly 90% of children in the United States, according to the IRS. So in this post, we want to eliminate all the confusion around the child tax credit, and more so keep reading!
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.
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