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RESOURCES / ARTICLES. Using HR Data. to Advise Clients. Accountants are increasingly analyzing clients’ Human Resource (HR) data to provide valuable advice. This is not surprising… given the critical role of employees in any business and management’s desire to improve productivity, motivation and performance. Which HR data can be useful? How can the data form the basis of advice?
Whew, you made it through 2020! But don’t rest easy yet as there’s new fraud to watch out for in 2021. The fraud perpetrators enjoyed a profitable year in 2020, and there are signs they may continue to feed off Americans as long as the pandemic is active. Here are several new scams. PPP fraud Struggling small-business owners have welcomed last month’s 11th hour extension of the Paycheck Protection Program (PPP).
A new tax season is underway, and Burkland’s startup tax accountants are working with our clients to prepare. In this article, we share a roundup of helpful 2021 tax preparation Read More. The post Startup Tax Preparation Resources for 2021 appeared first on Burkland.
Sales tax is broadly defined to mean any tax that is charged to the end-user customer by the retailer of property or services. Though this definition is correct, it does not always provide a complete picture of a business’s transactions tax liabilities. Sales taxes are a transactions based tax, but they are not the only transactions based taxes. There are numerous specialty transactions taxes applied to specific products, services and industries.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
How Do Photos Benefit My GMB Listing? We’ve all heard the saying a thousand times over, a picture is worth a thousand words. Well when it comes to your GMB profile, a carefully-curated photo gallery is worth a whole lot more! According to Google, businesses with photos receive 35% more click-throughs to their websites than businesses that don’t have photos.
If you’ve caught an employee stealing from your company, you may think that turning the person over to the police will result in prosecution. That’s not necessarily true. Law enforcement officials pursue and reject cases for many reasons. So if you’re determined to request prosecution of an occupational fraud perpetrator, take the following steps to help in preparing a fraud case. 1.
At the end of last year, TaxConnex commissioned Porter Research Group to conduct a survey of 100 finance leaders to understand the growing concerns they face related to sales tax heading into 2021. One question respondents were asked was if they were satisfied with how they were currently managing sales tax, and almost three out of four respondents (71%) answered that they were in fact not completely satisfied with how sales tax was being managed within their business.
When your company has the opportunity for a new project, it can be very tempting to accept any offer that comes your way. However, it is important that the scope of the project is carefully reviewed and analyzed in conjunction with your accountant or accounting department to make sure that the objectives are in line with company goals and perform a risk assessment to ensure tolerable risk.
In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start his own mortgage business. The perpetrator hacked the protected records by sending an email containing malware to a coworker. This particular dishonest worker was caught. But your company may not be so lucky.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
5 min read. The hardest lesson for any business owner – if you don't know your numbers, then you don't know your business. But what does "knowing your numbers" really mean?
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021 than you could for 2020 or 2019. This is the second year in a row that the cents-per-mile business mileage rate decreases year-over-year.
The consumer packaged goods (CPG) industry had a banner year in 2020, as homebound consumers upped their consumption of toilet paper, paper towels, cleaning supplies, canned goods, laundry detergent and snack foods. But what happens in 2021, as the vaccine gets out into circulation and consumers start getting back out there — returning to their offices, going out to eat and even hopping on airplanes and traveling to new destinations?
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
We’ve all heard the myths about cloud tax and accounting, including the intimidating theories that the cloud is not secure, expensive, complicated, or not up to compliance standards. Plus, as accountants, we tend to get comfortable with the on-premise, perhaps outdated software we’ve already implemented. However, the state of the tax and accounting industry is rapidly changing, and firms are having to shift their technology to keep from being left behind.
The Employee Retention Credit (ERTC) was created as part of the CARES Act to encourage businesses to continue paying employees by providing a credit to the eligible employer for wages paid to eligible employees. The ERC could be a valuable alternative for those who did not qualify for PPP and other emergency loans. We have compiled a list of frequently asked questions below: Question: For ERTC eligibility, does the company need to calculate full time equivalents or just the total of all full tim
Within financial services, artificial intelligence (AI) is typically deployed in various efforts to identify and stop fraud. But advanced technologies can also be leveraged to help financial institutions (FIs) operate more efficiently, improving the end-to-end payments experience for their consumers. It’s that holistic approach that has driven Visa ’s expanded AI initiative announced Tuesday (Feb. 2).
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The December 2020 numbers from the U.S. Bureau of Labor and Statistics (BLS) on national unemployment noted that 45 states and the District had jobless rate increases from one year earlier, no doubt due to the coronavirus (COVID-19) pandemic. States like California, Hawaii and Nevada registered unemployment rates at or above 9% in December 2020 and throughout the pandemic many other states suffered record-high unemployment rates rendering the state’s unemployment trust fund insolvent.
Join Jason Melillo, CPA (Principal – Accounting, ERTC) and Jeff Kamin, CPA (Manager, Accounting, ERTC) as they host a webinar on Employee Retention Tax Credits (ERTC) on Wednesday, February 10th at 9:30AM PST. In this session, they will review the details of the recently passed Taxpayer Certainty and Disaster Tax Relief Act of 2020, including: • Qualifying companies – aggregation rules, full-time employee limitations. • Qualifying wages – healthcare costs. • Reporting requirements and refu
Baby and beauty products company The Honest Company , which was founded by actress Jessica Alba , is quietly preparing to conduct an initial public offering (IPO), Bloomberg reported, citing unnamed sources. The company could be valued at as much as $2 billion, and an IPO could come as soon as Friday (Feb. 5), Bloomberg reported. As of Sunday (Jan. 31), no filing had been made with the U.S.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
QUESTION: We are an applicable large employer (ALE). For 2020, we offered coverage under our self-insured health plan to our salaried employees. We offered our hourly employees coverage under an individual coverage HRA (ICHRA). How do we report the ICHRA coverage on Forms 1094-C and 1095-C? ANSWER: Employers were able to offer ICHRA coverage to employees starting January 1, 2020 (see our Checkpoint article ).
5 min read. One of the biggest decisions a business owner will make is pricing– how do you know that you are pricing your services properly? Every business owner would agree, having an effective pricing strategy is a challenging aspect of running a successful business. You need prices that generate strong profit margins while keeping you competitive in the marketplace.
Although the U.S. healthcare system is lauded for providing the best, most advanced care in the world, when it comes to the payments practices being used with much of that industry, honorable mention might be a more fitting rank. This, despite the fact that consumers are not only accustomed to modern, seamless payments in almost every aspect of their lives, but studies show 1 in 4 patients say they’d switch to another provider or doctor that offered more payment options and a better patient expe
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
So, last week I ran through the (rather incredible) selection of NEW and/or extended tax credits available for Skagit County business owners. That’s just the tip of the iceberg though. But this is the great thing about working with business owners in tax strategy … we can get so creative and make a MASSIVE impact for your bottom line. It does take some partnership with you, of course.
By Feng Gu and Baruch Lev. In April 2020, Tapestry, Inc. ( TPR ) (luxury goods) announced a goodwill write-off of $211 million related to its line of Stuart Weitzman (shoes). Investors’ reaction was swift and harsh, Tapestry’s stock price decreased by 12.7% on the announcement day. There was other news in Tapestry’s announcement that likely affected shareholders’ reaction, but the goodwill write-off was definitely a contributing factor.
Michael Jordan is mostly known for one thing: basketball. And as he once said about hoops, “You miss 100 percent of the shots you don’t take.” But perhaps his best quote comes from his other pastime, gambling: “I want people to understand, gambling is not a bad thing if you do it within the framework of what it’s meant to be, which is fun and entertaining.”.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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