TaxConnex
MAY 18, 2021
As we entered 2021, many industry experts believed that state? sales tax audits ?were likely to increase sharply due to the loss of state revenue during the pandemic. Likewise, in a recent? TaxConnex survey we saw that two out of five?respondents?agree with the experts,?saying that?they?expect?sales tax audits to become more common over the next two years. 38%?
RogerRossmeisl
MAY 18, 2021
When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies for “head of household” tax filing status, which is more favorable than single? To qualify, you must maintain a household, which for more than half the year, is the principal home of a “qualifying child” or other relative of yours whom you can claim as a dependent (unless you only qualif
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BurklandAssociates
MAY 18, 2021
Colin Kennedy stops by to discuss the Fintech landscape, how accelerated momentum is changing the space, and whether it is here to stay. The post Accelerated Momentum in Fintech. Is it Here to Stay? appeared first on Burkland.
MyIRSRelief
MAY 17, 2021
Cannabis-based businesses are some of the fastest growing business sectors in the country. With more and more states legalizing medical marijuana and also recreational use, dispensaries and grow operations are popping up all over. Unfortunately, there are a number of things that makes a cannabis business a challenge is that there are many unique situations that go into running an all-cash operation.
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
MAY 20, 2021
We are approaching the three-year mark of the introduction of economic nexus and the South Dakota v. Wayfair decision. In order to address their expanding sales tax obligation, many businesses decided to outsource the sales tax process and chose an “automated” solution. If you are one of these businesses, you may now realize that much of the sales tax process falls on your shoulders.
RogerRossmeisl
MAY 17, 2021
As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here are some considerations. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for services performed. In order for your business to deduct the wages as a business expense, the work done by the child must be legitimate and the child’s salary must be reasonabl
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
xendoo
MAY 18, 2021
This past year has been incredibly hard on retailers, especially small businesses. Retail sales plunged more than 20% between February and April last year, but with pandemic restrictions easing, the industry is starting to recover. As folks are venturing out more, it’s the perfect time to refresh yourself and your sales associates on tips to help increase retail sales and work towards building your business back up!
ThomsonReuters
MAY 19, 2021
Historically, accounting for lease modifications is an area you may have found an infrequent need to address. The COVID-19 pandemic has upset that general rule, with lease concessions and terminations becoming all too common to afford relief to lessees under difficult economic conditions and disruptions. These adverse circumstances have served to place a spotlight on the necessity for entities to have processes and systems in place to account for lease modifications properly.
RogerRossmeisl
MAY 20, 2021
In 2019, AB 5 was signed into law with an effective date of 1/1/2020. Under AB 5, most workers are presumed to be employees for purposes of the Labor Code, the Unemployment Insurance Code, and for most wage orders of the Industrial Welfare Commission unless a hiring entity satisfies a three-factor test, referred to as the ABC test. This means that many workers previously classified as independent contractors are now employees under California law and you must withhold California income and payro
CapataCPA
MAY 18, 2021
Preparing Your Business for Recessions We all know that recessions will come in a matter of time, and no business has immunity from an economic downturn as we have seen with the recent COVID-19 pandemic. As our economy begins to improve, here are six strategies you can implement into your business model or plan to maximize the. The post Preparing Your Business for Recessions appeared first on CPA firm in Orange County, CA | CAPATA.
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.
inDinero Tax Tips
MAY 21, 2021
Did you know your business could qualify for a ‘sweet’ tax credit. Does your startup or small business spend money on trial-and-error activities to create a new product or improve a process? If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. The R&D tax credit wasn’t always available to small businesses.
ThomsonReuters
MAY 19, 2021
Over the past year, virtual communication practices have accelerated and changed our normal pattern of behavior with our clients. Are we going to text, email, call, or even comb our hair and do a Zoom meeting? In this episode of Pulse of the Practice “ Communication Standards ”, Paul Miller, Owner of Business by Design , and I discuss the pandemic’s impact on our client communication practices, what we’ve learned, and what we can apply as standards going forward.
RogerRossmeisl
MAY 20, 2021
As posted to the FightMediocrity YouTube Channel on 10/24/14 (Run time: 3 min, 52 sec) In this thought provoking clip, FightMediocrity provides a quick review and recommendation of “The 80/20 Principle” by Richard Koch. The unspoken corollary to the 80/20 principle is that little of what we spend our time on actually counts. But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness in our jobs, our care
Patriot Software
MAY 19, 2021
Having employees is an amazing feeling. Learning the responsibilities of being an employer can be daunting, though. One responsibility you have once you hire employees is withholding taxes from their paychecks. For accurate withholding, learn how to calculate payroll taxes. What are payroll taxes? When you think of payroll taxes, you might think of all […] READ MORE.
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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.
Withum
MAY 19, 2021
“When should I start collecting Social Security?” is a frequent question clients ask me. They are getting close to the age when they are eligible and it seems this is not as simple as one might expect. I’ve previously posted about this which addresses many of these questions but decided to update it.
AccountingDepartment
MAY 19, 2021
As a business owner or manager, you likely spend some time generating and analyzing financial statements. However, no two statements are of exactly the same importance. Some financial statements are essential to understanding the financial health of a business while others are less significant. Let’s take a look at the most important four financial statements for all businesses.
RogerRossmeisl
MAY 17, 2021
It’s not always easy being small. For one thing, small businesses (with fewer than 100 employees) experience higher occupational fraud losses: a median $150,000 vs. $140,000 for larger companies, according to the Association of Certified Fraud Examiners. That’s because they don’t always have the staffing or financial resources to implement fraud-prevention programs.
Patriot Software
MAY 17, 2021
Hiring employees can be exciting, especially if it means your business is growing. But if you’re hiring someone under 18 years old, you need to know child labor laws. Why? Because the employment of minors carries stricter regulations than adult employment. Not to mention, ignoring child labor laws can result in penalties from the federal […] READ MORE.
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
MAY 17, 2021
If you do not have a will, you are delegating a costly mess to your survivors. Everyone dies. Some very late in life and some too soon and unexpectedly. The problem is that very few really know when they will die.
LyfeAccounting
MAY 18, 2021
If you haven’t noticed, PPP loan fraud is becoming more and more common. The Google search for PPP loan fraud is at an all-time high on Google Trends. And PPP loan fraud is so out of control that it has actually become a joke over on Twitter. We’re not sure why people are not taking the government seriously. Or why they think they can get away with lying about businesses and employees when there are so many ways to easily invalidate their loans such as: payroll taxes and. previously filed
AccountingDepartment
MAY 17, 2021
Our very own co-founder, Dennis Najjar, will be speaking at this year's Accounting & Finance Show Americas 2021! This is a fully virtual event that you can attend and hear Dennis discuss solutions to help your business from cash flow to the client experience. Click below to tune in at 2:35 pm EDT on May 18, 2021.
ThomsonReuters
MAY 20, 2021
IRS Notice 2021-31 (May 18, 2021). Available at [link]. The IRS has issued 86 Q&As on the COBRA premium assistance provisions of the American Rescue Plan Act of 2021 (ARPA). Under ARPA, a 100% COBRA premium subsidy and additional COBRA enrollment rights are available to certain assistance eligible individuals (AEIs) during the period beginning on April 1, 2021, and ending on September 30, 2021 (see our Checkpoint article ).
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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.
GrowthForceBlog
MAY 21, 2021
Since 1996, Youth Speaks has led a global movement of young people picking up pens and taking hold of microphones to declare themselves present. Today, they continue to empower the younger generation by providing a safe space for those with limited resources, to develop their intellectual and artistic voice. Youth Speaks now works with 45,000 teens per year in the Bay Area alone , and has created partner programs in 36 cities across the United States.
RitaKeller
MAY 19, 2021
“To think that in such a place I led such a life.” I am in a reflective frame of mind this morning. My granddaughter graduated, summa cum laude , from Miami University (of Ohio) on Sunday. She is off to begin a new life adventure. The above quote is an inscription on a statue sculpted by a Miami undergraduate. Miami uses the quote extensively and especially at graduation time.
MazumaBusinessAccounting
MAY 17, 2021
Tax day has come and gone and you didn’t have time to file your taxes. As long as you filed a tax extension, you have an extra six months to get your tax return to the Internal Revenue Service (IRS). The IRS will allow you to file an extension for any reason, as long as you file form 4868 by the original tax deadline or they will automatically grant you an extension if you have paid your taxes by the original deadline.
KROST
MAY 20, 2021
If you missed our webinar led by Paren Knadjian , Head of M&A and Capital Markets , there is a recording available. This webinar provides the roadmap to being prepared for when you are planning to sell your business now, in the next 5 years, or have no plan. Topics covered include: • How exit planning fits with business strategy and personal financial planning. • The six biggest myths about selling a business. • Maximizing value. • Reducing risk. • Readiness review. • How much value does ex
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.
GrowthForceBlog
MAY 19, 2021
8 min read. Building and managing a sustainer program for your nonprofit can be complicated, and if not done right, may yield less than desired results.
RitaKeller
MAY 21, 2021
“The best way out of a difficulty is through it.” – Will Rogers. This week for Flashback Friday , I encourage you to read about one of your biggest challenges. Here is a post from 2019.
AccountingDepartment
MAY 20, 2021
During the latest Vistage Executive Summit, Joe Galvin of Vistage Worldwide discussed the 2021 approach to remote work and how it is going to have a lasting impression into 2022 and many more years ahead.
KROST
MAY 19, 2021
Congress passed a $28 billion recovery fund, estimated to be enough to fund roughly 100,000 grants for the restaurant industry. However, in just the first few days of launching it, the SBA received about 186,000 applications. In fact, the latest reporting indicates that the number has grown to 266,000 applications, requesting a total amount of dollars that is twice what is available in the fund.
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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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