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: 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.
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.
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.
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.
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
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!
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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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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 ).
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.
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.
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.
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
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.
GrowthForceBlog
MAY 18, 2021
7 min read. Look at any business's income statement, and employee-related costs will likely comprise the largest portion (or one of the largest portions) of overhead expenses. While many business owners' first instinct might be to try to cut costs from this hefty category, the money you spend on your employees is well worth it.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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