BurklandAssociates
MARCH 3, 2022
Burkland’s Tax Services lead, Ardy Esmaeili, CPA contributed an article to TechCrunch this week, What US Startup Founders Need to Know About the R&D Tax Credit. Our tax team has Read More. The post Our New TechCrunch Article on R&D Tax Credit Resources for Startups appeared first on Burkland.
xendoo
MARCH 4, 2022
Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? Ecommerce business owners have some degree of flexibility that physical storefronts cannot afford. Apart from avoiding rent, an ecommerce model makes it easy to fulfill orders from the comfort of your home or warehouse.
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TaxConnex
MARCH 3, 2022
Understanding the taxability of your company’s products or services is one of the key steps to complying with sales and use tax laws. In many situations, your “products” can be easy to classify: They’re usually tangible (in fact, a key sales tax definition is “tangible personal property”) and you charge sales tax on property unless it falls into an exemption category.
RogerRossmeisl
FEBRUARY 28, 2022
Back in 2017, the Tax Cuts and Jobs Act was signed into law which instituted a cap on the amount of state and local taxes (SALT) that individuals could report as Itemized Deductions on Schedule A. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000. Previously, there was no limit. Since then, roughly 20 states have come up with workarounds intended to negate, or at least mitigate the effect of the SALT limitation.
Speaker: Danny Gassaway and Wayne Richards
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
Withum
FEBRUARY 28, 2022
Welcome to the future! Cryptocurrency continues to gain popularity (see our previous article here ), the Metaverse is constantly expanding, and NFTs (Non-Fungible Tokens) are trending. Blockchain technology is on track to become the most impactful innovation since the internet (and for charities specifically, since the “donate now” button) and has been a catalyst in creating recent generational wealth.
Acterys
MARCH 4, 2022
Acterys 22.1 marks the biggest update yet in our 4 years journey of developing our platform to be the most comprehensive integrated planning and analytics solution. After seeing the tremendous response for our last version 21.2 update , we are set on the path to take Acterys to the next level and provide unmatched value to our customers. And here we are with Acterys 22.1 with several new features and functionality enhancements that doubles its ease-of-use, extensibility, and automation capabilit
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Going Concern
MARCH 3, 2022
Ever since KPMG was fined $50 million by the SEC in June 2019 as a result of auditors at all levels cheating on internal online training exams by illegally sharing answers with colleagues and manipulating test results (as well as that whole KPMG audit partners stealing confidential inspection information from the PCAOB thing), we have learned that employees passing around the answers to mandatory internal training exams happens quite a bit in the Big 4.
Withum
MARCH 2, 2022
With the kickoff of the 2021 tax season, many taxpayers are gathering their information and trying to determine how recent legislative changes may apply to them when filing their 1040. One of these changes was to the Child Tax Credit. Under the American Rescue Plan of 2021, the Child Tax Credit was increased and allowed for advanced payments during the year.
ThomsonReuters
MARCH 3, 2022
QUESTION: Several of our employees were hospitalized over the past year with COVID-19 and incurred large medical expenses, which our self-insured health plan was obligated to cover. We later discovered that these employees were not vaccinated against COVID-19. Given the financial impact of COVID-19 on our health plan, can we require employees going forward to show proof of COVID-19 vaccination as a condition of eligibility?
MyIRSRelief
MARCH 1, 2022
Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Keeping track of how much money is coming in and going out is paramount and when it comes to hiring a firm you need to find the right one. Hopefully, by the time you get to the end of this article, we provided you with enough reasons to choose to go with a tax/accounting firm that offers the best Business Bookkeeping Services.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Going Concern
MARCH 3, 2022
[Updated with additional statement from Deloitte Global.]. When Deloitte’s global HQ posted a statement on its website on March 1 (see below in original post from Tuesday), the firm said it had “suspended business operations and client service in Ukraine as we focus on taking care of our people and their loved ones.” But on Wednesday, Deloitte Global updated its statement to say it “is currently reviewing our business and presence in Russia,” making it the first Big 4 firm to say publicly that i
Withum
MARCH 1, 2022
Withum is proud to share that New Jersey Business Publication, ROI-NJ, named CEO and Managing Partner Bill Hagaman , as a top influencer in the state’s business world. “Not only has he made Withum a national player during his tenure, he’s been an example of giving back to the business and nonprofit communities…” ROI-NJ. The annual list recognizes successful leaders within their fields and within the greater community.
ThomsonReuters
MARCH 3, 2022
HHS: Update to the Women’s Preventive Services Guidelines, 87 Fed. Reg. 1763 (Jan. 12, 2022). Available at [link]. The HHS Health Resources and Services Administration (HRSA) has issued updated preventive services guidelines for women, which it approved on December 30, 2021. As a reminder, non-grandfathered group health plans and insurers must cover without cost-sharing certain preventive services specified by HRSA, the United State Preventive Services Task Force (USPSTF), and the CDC (see our
CTP
MARCH 2, 2022
Success in your business should be a reason to celebrate and take pride in your accomplishments. Yet as a savvy business owner, you also need to consider what this success will mean for the next generation. Without careful planning, your beneficiaries could find themselves with a hefty tax bill. A tax expert can help you a) minimize estate taxes and b) generate sufficient liquidity to satisfy estate expenses.
Speaker: Jennifer Hill
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
inDinero Tax Tips
FEBRUARY 28, 2022
Credit: Kelly Sikkema. Classifying employees correctly is important to optimizing your tax position while staying on the correct side of the law. Misclassifying employees could cost your company thousands in fines and unexpected back taxes. This article reviews why you might want to classify employees in certain ways and how to know if you can. How Classifying Employees As Independent Contractors Benefits Your Business.
Going Concern
MARCH 3, 2022
Today’s Grant Thornton roasting comes not from the PCAOB (like usual) but from r/accounting , also known as the magic genie from whence a wealth of content is born. We didn’t have time to create a fake resume, apply to one of the many, many open positions at GT, and hope we get the same recruiter to verify its legitimacy, but if any firm is going to talk like this, GT would be it.
ThomsonReuters
FEBRUARY 28, 2022
Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. What is the IRS Form 941? On January 1, 1950, a new plan took effect to collect taxes due under the Federal Insurance Contributions Act (FICA) and under the federal income tax withholding provisions of the Internal Revenue Code (IRC).
5 Minute Bookkeeping
MARCH 3, 2022
Breaking up with bookkeeping clients is hard to do, as the song goes. Since I’ve worked with hundreds of clients, I’ve certainly ‘fired’ or parted ways with my share of bookkeeping clients, but it’s not all bad news. Every breakup is a valuable lesson. Today I want to share the biggest lessons I’ve learned from firing bookkeeping clients.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
GrowthForceBlog
MARCH 3, 2022
6 min read. The importance of high-performing executive teams cannot be denied. Whether or not your leadership team can perform well will have an effect on just about every aspect of your business.
Going Concern
MARCH 4, 2022
When did you decide you were done with public accounting? Not the moment you decided to accept an offer to go work somewhere else, but the moment you decided there wasn’t a snowball’s chance in hell you would stay—the moment that cemented the decision to start looking for the right opportunity to get the hell out and never look back? My moment of full clarity came at the tail end of a PCAOB inspection.
CPA Practice
MARCH 2, 2022
Historic backlogs at the IRS have led clients to contact accounting firms in a panic, wanting to know where a refund is or why an unexpected tax notice has arrived.
SkagitCountyTaxServices
MARCH 2, 2022
With the events of the past week and whispers of world war, it’s pretty easy to get caught up in the non-stop fear cycle. Watching a full-scale invasion of Ukraine, anxiously waiting to see if China will invade Taiwan, hearing Turkey issue threats to Russia if they invade the Black Sea… well, it’s more than enough to get everyone on edge. So, if I can be so bold here, I want to encourage you at all costs to keep your mind clear of all of this.
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
Withum
FEBRUARY 28, 2022
The heightened level of globalization, product complexity and increased demands of customers are some of the top factors affecting the supply chain industry today. These have led to the adoption of transformative technology, which has tremendously reshaped the supply chain industry from the renowned pure operation hub into the epicenter of modern business innovation.
Going Concern
MARCH 4, 2022
I was scrolling through LinkedIn last night and came across this post by John Robinson , a former partner at both EY and Deloitte, who gave six reasons why the Big 4 should cut ties with their Russian member firms. He makes some pretty interesting points, and I was wondering if you guys agree or disagree with his reasoning. Here’s his post: Three of the Big 4’s biggest consulting rivals—Accenture, McKinsey, and Boston Consulting Group—said yesterday they are severing ties with Russia.
ThomsonReuters
MARCH 3, 2022
Required Minimum Distributions, 26 CFR Parts 1 and 54, 87 Fed. Reg. 10504 (Feb. 24, 2022). Available at [link]. The IRS has proposed a restatement of most of the regulations under Code § 401(a)(9) that govern required minimum distributions (RMDs) from qualified plans (including 401(k) plans), IRAs, Roth IRAs, 403(b) plans, and eligible deferred compensation plans under Code § 457(d).
AccountingDepartment
MARCH 3, 2022
This week, AccountingDepartment.com's Co-founder, Dennis Najjar, had the opportunity to join Jeff Siegel on the Leaders Who Scale podcast.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Withum
MARCH 4, 2022
With the ongoing initiative of building Withum’s Women in Financial Services group, we will continue to spotlight our women clients, friends and founders on their personal and professional experiences and successes. This month, we are spotlighting Camila Potenza from Mindset ventures on comfort zones and measuring success. Q: As a working mom and founder, describe your worst working day.
Going Concern
MARCH 2, 2022
I was tempted to start this post with “it’s hard to believe it’s already 2022,” but you know what, time has been pretty nebulous for at least the last two years, if not longer, and it really doesn’t even matter anymore. It’s as if the aliens who run the simulation cranked us up a la Joe Potter’s eternally trapped cookie in Black Mirror’s White Christmas , but whatever, we’re not here to talk about time distortion ( here is an interesting read
ThomsonReuters
MARCH 3, 2022
Texas Med. Assoc. v. HHS, 2022 WL 542879 (E.D. Tex. 2022); Memorandum Regarding Continuing Surprise Billing Protections for Consumers (Feb. 28, 2022). Memorandum. Upholding a challenge by health care providers, a federal trial court has vacated key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).
FraudFiles
MARCH 3, 2022
A competent expert witness is vital to cases involving economic damages and other financial calculations. However, the expert must be much more than just a mathematician, market analyst, economic guru or forensic accountant. The job of the expert is far from over once the facts are analyzed and the calculations are completed. Traditional accounting and finance skills are not enough when it comes to litigation.
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