TaxConnex
NOVEMBER 30, 2021
When you look at the details involved in your sales tax compliance process – preparing and filing returns, updating the filing calendar, managing notices, monitoring nexus thresholds and on and on – it’s easy to see why you need to simplify the process wherever possible. One important factor is consistent, properly formatted data with the necessary data fields.
RogerRossmeisl
NOVEMBER 29, 2021
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An account for health expenses A pre-tax contribution of $2,750 to a health FSA is permitted in 2021. This amount is increasing to $2,850 for 2022.
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BurklandAssociates
NOVEMBER 30, 2021
As concern over global warming grows around the world, VC investment continues to accelerate in Foodtech. The sector positions itself as a sustainable alternative to the existing food ecosystem and Read More. The post Foodtech Investment is Accelerating, Especially in BioEngineered Foods appeared first on Burkland.
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.
TaxConnex
DECEMBER 2, 2021
Many manufacturers, wholesalers, and distributors believe they have minimal sales tax obligations due to the likelihood of sales tax-exempt transactions. However, there are numerous pitfalls to be aware of. Businesses don’t always fit into a “box” as being only a manufacturer, or only a distributor. Many times, a manufacturer is also a distributor. And the terms wholesaler and distributor are often used interchangeably.
RogerRossmeisl
NOVEMBER 29, 2021
For years, banks, financial service and investment companies, and exporters have been required to follow know-your-customer (KYC) processes to thwart criminal activity. Developed to help certain businesses comply with anti-money laundering and anti-terrorism regulations, these programs aren’t mandated for most nonfinancial businesses. But you might want to consider adopting some KYC principles anyway.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
NOVEMBER 30, 2021
GE , Johnson & Johnson and Toshiba just announced planned spinoffs and IBM just completed one. These are big and well-known companies so there must be something to this, and perhaps the beginning of a trend. Question: What does this mean to stockholders?
ThomsonReuters
DECEMBER 2, 2021
QUESTION: Our company has a calendar-year cafeteria plan with a premium payment feature, a health FSA, and a DCAP. Shortly after our open enrollment period closed for the 2022 plan year, several employees asked if they could change their 2022 elections. How should we handle election change requests made after open enrollment has ended but before the new plan year has begun?
RogerRossmeisl
NOVEMBER 28, 2021
Recent pass-through entity (PTE) tax (AB-150) clarifications from the Franchise Tax Board (FTB) underscore that detailed planning is critical when considering this credit. For an overview of AB-150, also see our initial 8/15/21 post on this subject: “California AB-150 Provides SALT Cap Workaround“ PTE Election The election to pay the tax is: made annually, is irrevocable, and can only be made on an original, timely filed return, including extensions PTE Tax Due Date (2021 Tax Year) F
xendoo
NOVEMBER 29, 2021
You’ve been in business for a while, and your next steps require you to obtain a small business loan. Your lender responds to your request favorably but asks to see your company’s recent balance sheet. . With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how to express the success of your growing business.
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
DECEMBER 2, 2021
At this point in the year, budget season is here (or already begun for you) and 2022 planning is underway. Financial teams usually plan to finalize budgeting for the following year in December and the importance of going into a new year with an established budget cannot be overlooked.
ThomsonReuters
DECEMBER 2, 2021
IRS Notice 2021-64 (Nov. 30, 2021). Available at [link]. The IRS has issued its 2021 Required Amendments List (RA List) for individually designed qualified retirement plans (including 401(k) plans) and 403(b) plans. This year’s list does not identify any qualification changes that require 401(k) plans to be amended. In fact, it identifies only one change, which only affects financially troubled multiemployer defined benefit plans that received special financial assistance under the American Res
RogerRossmeisl
NOVEMBER 29, 2021
(This is Blog Post #1132). The post What’s Your Education ROI? appeared first on Roger Rossmeisl, CPA.
GrowthForceBlog
DECEMBER 2, 2021
6 min read. Well, first, there’s no need to get nervous. Watchdogs are actually a good thing. Here’s why.
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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.
AccountingDepartment
DECEMBER 1, 2021
Business owners and CEOs approach us daily regarding their outsourced accounting and bookkeeping because that's our job after all. And while AccountingDepartment.com is not the only outsourced accounting and bookkeeping firm out there , we always encourage inquiring parties to conduct their own research and prepare themselves as best they can for making the shift.
DMCL
DECEMBER 3, 2021
Congratulations to our newest class of (soon to be accredited) Chartered Professional Accountants: Daryl Eisner. Rita Jia. William Leung. Serena Liang. Devienne Mok. Rhea Morales. Arshdeep Rai. Livani Selvananthan. Felix Tan. Denny Tran. Yvetta Wang. We’re proud of your hard work, grit and determination. Cheers to your success and the next stage of your careers.
Ronika Khanna CPA,CA
DECEMBER 3, 2021
Most of us know at least one small business owner or entrepreneur who maintains an unconventional work schedule, is physically attached to their laptop, sees every get together as a networking opportunity and/or enjoys passionate discussions about spreadsheets. For many business owner, gifts that make their working lives easier and workspaces more efficient (and cozier) are often greatly appreciated since so much of their time is often spent immersed in their businesses.
ThomsonReuters
DECEMBER 3, 2021
With global supply chain challenges spurring dire headlines of precariousness, more than 3,000 transportation, logistics, fulfillment, and warehouse professionals from around the world gathered in October for the Reuters virtual Supply Chain Execution 2022 event. During one panel discussion, titled “Driving Towards a Singular Innovation Goal,” four industry experts discussed how corporate supply chain leaders can foster an innovative culture to master change management when change is incessant.
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
Pooley Accounting Services
DECEMBER 2, 2021
It’s been a long day. You were up at 6:00 and at the construction site by 7:00. It’s 10:00 pm, and you’re trying to pull together a proposal for a huge construction project that is due tomorrow. Somehow, the numbers aren’t coming together, plus you aren’t sure what is the best revenue recognition approach to use. Maybe, it’s time to think about accounting professionals or a firm with construction experience to help.
5 Minute Bookkeeping
DECEMBER 2, 2021
Is not knowing how to charge for bookkeeping services holding you back? I know that for many virtual bookkeepers, the problem isn’t the technical know-how, the problem is being able to confidently price their services. In this blog post, I’ll share the knowledge I’ve gathered over the years on how to charge for bookkeeping services. By far, the most frequently asked question in my Facebook community is how much should I charge for bookkeeping services?
FraudFiles
DECEMBER 1, 2021
It is not uncommon for one spouse to hide assets during a divorce. Everyone is in love until they’re not, and then they may not feel much like splitting everything with a soon-to-be e-spouse. If hidden assets and streams of income remain hidden, it may be impossible to get a fair divorce settlement. Women are very often in the lesser position when it comes to the finances of the family.
ThomsonReuters
DECEMBER 3, 2021
With global supply chain challenges spurring dire headlines of precariousness, more than 3,000 transportation, logistics, fulfillment, and warehouse professionals from around the world gathered in October for the Reuters virtual Supply Chain Execution 2022 event. During one panel discussion, titled “Driving Towards a Singular Innovation Goal,” four industry experts discussed how corporate supply chain leaders can foster an innovative culture to master change management when change is incessant.
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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.
KROST
NOVEMBER 30, 2021
The real estate market can be volatile, full of risks and challenges. Real estate professionals should enlist an expert to ensure compliance and navigate the specifics of real estate tax and accounting. At KROST, we provide specialized real estate accounting services to a diverse range of clients in the real estate industry, including developers and investment, construction, and property management companies.
Generate Accounting
NOVEMBER 28, 2021
The government has announced that a new one-off transition payment will be available for businesses from 10 December this year. Businesses need to have suffered a 30% drop in revenue between October 3 and November 9 compared to a typical week in the six weeks prior to August 17 to be eligible. The transition payment is designed to assist businesses in moving to the new traffic light system.
Cheap Accounting
NOVEMBER 29, 2021
Many self-employed people (AKA sole traders) who complete a Self-Assessment tax return for the first time are left somewhat baffled when their tax bill is much bigger than expected. It happens because after they file their first Self-Assessment tax return, they find out they need to make a “ payment on account ”. . But, what are payments on account and what key things should you know about them?
ThomsonReuters
DECEMBER 2, 2021
Fact Sheet: EBSA Restores Over $2.4 Billion to Employee Benefit Plans, Participants and Beneficiaries. Available at [link]. The DOL’s Employee Benefits Security Administration (EBSA), the agency that enforces Title I of ERISA, has released a fact sheet announcing its fiscal year (FY) 2021 enforcement statistics. According to the fact sheet, EBSA has enforcement authority over nearly 734,000 retirement plans, 2 million health plans, and 662,000 other welfare benefit plans, covering about 1
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.
RitaKeller
DECEMBER 3, 2021
“Many people hear your words, but they feel your attitude.” – John Maxwell. Here is a Flashback Friday post from 2019. What kind of leader/manager will you be as you begin your journey through 2022?
Generate Accounting
NOVEMBER 28, 2021
The government has announced that a new one-off transition payment will be available for businesses from 10 December this year. Businesses need to have suffered a 30% drop in revenue between October 3 and November 9 compared to a typical week in the six weeks prior to August 17 to be eligible. The transition payment is designed to assist businesses in moving to the new traffic light system.
ThomsonReuters
DECEMBER 2, 2021
Christine S. v. Blue Cross Blue Shield of N.M., 2021 WL 4805136 (D. Utah 2021). A group health plan participant sued the plan and its insurer after claims for her child’s residential mental health treatment were denied. The participant argued that the plan improperly classified the treatment as not medically necessary and that it violated the Mental Health Parity and Addiction Equity Act (MHPAEA) by applying more stringent medical necessity criteria to mental health care than to medical/surgical
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