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: Dave Sackett
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
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.
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.
ThomsonReuters
DECEMBER 9, 2021
IRS Information Letter 2021-0023 (Aug. 18, 2021). Available at [link]. The IRS has released an information letter responding to a request for guidance that would expand the medical care that may be provided by a high-deductible health plan (HDHP) before the minimum annual deductible has been satisfied. As background, individuals who wish to make or receive HSA contributions must be covered by a qualifying HDHP and have no impermissible coverage.
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.
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?
Speaker: Erroll Amacker
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
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.
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!
GrowthForceBlog
DECEMBER 9, 2021
7 min read. Every CEO’s worst nightmare: your client’s portal was hacked ! Here’s your next move….
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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.
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.
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.
Speaker: Anna Tiomina, MBA
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?
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.
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.
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.
Speaker: Joe Wroblewski, Senior Sales Engineer
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!
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.
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.
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.
Speaker: Melissa Hurrington
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.
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
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.
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.
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.
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