RogerRossmeisl
DECEMBER 7, 2021
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a few strategies. Purchase assets Thinking about buying new or used equipment, machinery or office equipment in the new year? Buy them and place them in service by December 31, and you can deduct 100% of the cost as bonus depreciation.
PANALITIX
DECEMBER 8, 2021
RESOURCES / ARTICLES. Growing Your Accounting Firm… Without Hiring. It’s good news that many Panalitix clients have grown their businesses this year and want to expand in the next 12 months. However, hiring new employees to fuel that growth is proving to be a challenge. Here’s an excerpt from a recent conversation about the growth challenges and opportunities ahead: Panalitix: What are your business goals next year?
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RogerRossmeisl
DECEMBER 7, 2021
The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that will generally apply to digital asset transactions starting in 2023. Cryptocurrency exchanges will be required to perform intermediary Form 1099 reporting for cryptocurrency transactions. Existing reporting rules If you have a stock brokerage account, whenever you sell stock or other securities, you receive a Form 1099-B after the end of the year.
TaxConnex
DECEMBER 7, 2021
Rolling the dice with sales tax compliance can backfire in a big way. And there are several examples that take this to the extreme. Keep reading to see some recent sales tax missteps that had big costs. Tax air-or. New York: A Long Island provider of self-service, coin-operated air machines to inflate car tires has been socked with a $4.25 million penalty for failing to pay sales tax on air-inflation services, as well as for tax avoidance schemes by underreporting sales and paying workers off th
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.
BurklandAssociates
DECEMBER 6, 2021
Ask a founder or investor what drives value in an early-stage SaaS business, and “revenue growth” is probably the consensus answer – essentially, quantity of revenue. Everyone wants that hockey Read More. The post The 3 Ps of Revenue Quality for SaaS Startups appeared first on Burkland.
Withum
DECEMBER 10, 2021
This week I took my final 2021 RMD (required minimum distribution) withdrawal from my IRA and wanted to show my wife how it works. I handle all the “big” things in our affairs – investing our portfolio and making sure we are financially secure for the rest of our lives.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
DECEMBER 9, 2021
Wholesalers and manufacturers/distributors have some big advantages regarding sales tax compliance – but they can also have hidden obligations. Wholesalers generally don’t sell to the public but there are times, especially within the last few years, where many wholesalers have added shopping carts to their own websites to catch the small number of consumers that may want to shop direct.
xendoo
DECEMBER 6, 2021
Business Resolutions Start Now. The end of the year is a bustling time for small business owners. Between skyrocketing holiday sales, extended hours, and juggling multiple duties, it can be difficult to find a moment to stop and think about preparing for 2022. . Where do you start? What metrics can be used to predict and measure success? What steps can be taken to effectively prepare your business for the new year?
LSLCPAs
DECEMBER 8, 2021
Introduction You have probably heard that the Infrastructure Investment and Jobs Act signed into law on November 15, 2021, eliminated the Employee Retention Credit for 2021 Q4. Especially if you were anticipating the receipt of the Employee Retention Credit, you’re wondering if there’s anything that will help. One thing is to keep in mind that. The post ERC Employee Retention Credit REPEALED for Q4 – Don’t Panic!
AccountingDepartment
DECEMBER 9, 2021
Financial forecasting is always important for any business. It allows you to know what's coming down the road. Specifically, revenue forecasting allows you to know your financial standing, identify risks, identify trends and make adjustments to your business plan. It identifies potential problems down the pipeline and with this knowledge, companies can make adjustments to avoid risk.
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.
CalCPA
DECEMBER 6, 2021
Whatever your interests and expertise, we have a matching state committee—and the application period to serve in 2022-23 is open through Jan. 28. The post CalCPA BUZZ: State Committee Application Period Open appeared first on Hot Topics.
xendoo
DECEMBER 6, 2021
Xendoo provides online bookkeeping , accounting, and tax support for your partnership business. When you get behind in your books, you have two choices: lose sleep or turn to a catch-up bookkeeping service to help you out. . What is catch-up bookkeeping? Catch-up or “clean-up” bookkeeping is the method of bringing your financial records up to date. In other words, catch-up bookkeeping lets you spend less time worrying about the past and more time focused on the future.
ThomsonReuters
DECEMBER 9, 2021
Anglim v. Sharp Med. Staffing, LLC, 2021 WL 5741961 (D. Neb. 2021). Available at [link]. A former employee sued her employer for violating the COBRA notice requirements and failing to enroll her in COBRA coverage under its group health plan. Following her termination in March 2020, the employee allegedly called the employer repeatedly about COBRA enrollment and sent a $3,600 check for COBRA coverage, despite not having received an election notice.
AccountingDepartment
DECEMBER 8, 2021
When you are a contractor for the government, it is very important that you follow various federal rules and regulations. DCAA compliant accounting is a widely used term in the contracting industry. With DCAA-compliant accounting, you can reduce the risks of problems with an audit and be much better prepared for an audit. Being DCAA compliant means that you are simply following the rules and regulations.
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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.
FraudFiles
DECEMBER 7, 2021
There may be nothing more disheartening in the world of fraud investigation than a church employee caught embezzling. Unfortunately, there are fairly regular news reports of financial fraud at churches. Fraud hits churches hard. Many churches operate on shoestring budgets to begin with. A sizable fraud can put a church on the brink of financial collapse.
GrowthForceBlog
DECEMBER 9, 2021
7 min read. Every CEO’s worst nightmare: your client’s portal was hacked ! Here’s your next move….
Ronika Khanna CPA,CA
DECEMBER 9, 2021
Giving gifts to clients or customers can be a great way to build goodwill, create customer loyalty and differentiate yourself from your competition. Gifts can be anything from a simple bouquet of flowers to something a bit more personalized based on your knowledge of the customer. A gift can be given around the holidays, on birthdays, after closing a sale or any other time as a simple thank you.
AccountingDepartment
DECEMBER 5, 2021
AccountingDepartment.com is the leader in outsourced accounting, bookkeeping, controller, and advisory services. We are the largest and most experienced outsourced provider in the country and serve businesses nationwide with our 100% U.S-based team of professionals.
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
Withum
DECEMBER 10, 2021
This week I took my final 2021 RMD (required minimum distribution) withdrawal from my IRA and wanted to show my wife how it works. I handle all the “big” things in our affairs – investing our portfolio and making sure we are financially secure for the rest of our lives.
FraudFiles
DECEMBER 10, 2021
You are being audited. These are some of the most dreaded words an individual or business will ever hear from a state or federal tax auditor. They invoke fear, panic, and sometimes anger. Most of all, they create a need for documentation. Every number could be scrutinized. That means documentation must be produced to support the amount of each expense and the business purpose of the item.
ThomsonReuters
DECEMBER 9, 2021
QUESTION: Since we changed our company’s ERISA-covered major medical plan from fully insured to self-insured this year, do we have more flexibility in administering the plan’s terms? In particular, we would like to waive the plan’s waiting period for a group of employees hired in connection with an acquisition. ANSWER: You might be able to waive the waiting period for certain groups of employees, but some complicated issues should be addressed.
SkagitCountyTaxServices
DECEMBER 8, 2021
There are many of our clients for whom this time of year is like their version of the Super Bowl. Some Skagit County businesses are earning 30-50% (or more) of their yearly revenue in this one month. Others … well, this is a normal month — except of course for all of the holiday craziness. But for ALL of our clients, this is a time where you can bring home some serious bacon.
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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
DECEMBER 6, 2021
Photo by Roly Vasquez on Pexels.com. In October, a former Facebook employee Frances Haugen told the UK parliament that Facebook “views safety as a cost centre and not an investment for growth” ( CNN ). This made me think of two things. First, what is a cost centre. A simple definition is some unit, part of function of an organisation for which costs can be identified and for which a manager can be held responsible.
LSLCPAs
DECEMBER 6, 2021
UPDATES – U.S. Department of Treasury issued more guidance on June 17, 2021 related to Recipient Compliance and Reporting for the use of Coronavirus State and Local Fiscal Recovery Funds. The U.S. Department of Treasury has made updates to the compliance and reporting guidance to reflect change in reporting dates as well as clarifying reporting.
ThomsonReuters
DECEMBER 9, 2021
Lyn M. v. Premera Blue Cross, 2021 WL 5579710 (D. Utah 2021). Available at [link]. After claims for a child’s residential mental health treatment were denied under an ERISA-covered group health plan, the child’s parents sued the plan and its claims administrator. The trial court upheld the denial, but an appellate court subsequently determined that, because the decisionmaker’s discretionary authority was not mentioned in the SPD or otherwise disclosed, the trial court should have applied the “d
inDinero Accounting
DECEMBER 6, 2021
Credit: Carlos Muza. There are a number of budget forecasting methods to choose from. Knowing which one is right for you, and making it work, can be a confusing challenge. This article introduces and discusses three techniques used for budget forecasting. What is Budget Forecasting? Your budget is the lifeblood of your business. The circulation of your finances ensures continued operations to meet the needs of your clientele.
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.
xendoo
DECEMBER 6, 2021
When businesses are first created, every responsibility falls on the business owner. As they juggle increasing sales, customer service, marketing, and even bookkeeping and accounting , two questions come to mind – how do I pay myself? How do I pay my business’s taxes? . Self-payment for small business owners is far from simple. There are certain requirements for the amount you pay yourself, and even how you receive payments.
AccountingDepartment
DECEMBER 5, 2021
AccountingDepartment.com is the leader in outsourced accounting, bookkeeping, controller, and advisory services. We are the largest and most experienced outsourced provider in the country and serve businesses nationwide with our 100% U.S-based team of professionals.
ThomsonReuters
DECEMBER 7, 2021
‘Twas auditing busy season, when all through the firm. No one was sleeping, especially not the interns. Nails were bitten, and foreheads were slick. Report deadlines were coming up. And quick! The organizers were ready, audit staff on call. But echoes of client’s cries ring in the halls. Oh, my engagement plan? Where’s schedule M-3? Email? Didn’t get it!
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
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