Sat.Mar 06, 2021 - Fri.Mar 12, 2021

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Payroll Provisions of the American Rescue Plan Act

RogerRossmeisl

The American Rescue Plan, 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The legislation extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Consolidated Appropriations Act, 2021 (CAA, 2021).

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Sales Tax Updates for Technology Companies

TaxConnex

Sales tax obligations regarding software and other technology-related solutions can often come down to location and definition. And the definition is potentially different depending on the location. Four states recently took a closer look at how sales tax applies to technology-related solutions, one of the more confusing industries for complying with sales and use tax requirements.

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Are you an Accountant or Business Person? And why it matters

PANALITIX

RESOURCES / ARTICLES. ARE YOU AN ACCOUNTANT OR BUSINESS PERSON? AND WHY IT MATTERS. Over the next few months, we’ll be looking at how you can “re-boot” your approach to creating proposals, engagement letters and targeted marketing campaigns with Panalitix state-of-the art technology solutions. Now’s the time to take a fresh approach to make proposal creation and delivery a more efficient and polished experience – for both you and your clients.

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What’s Your Signature Response to Problems?

DuctTapeMarketing

What’s Your Signature Response to Problems? written by John Jantsch read more at Duct Tape Marketing. One of the ways to create goodwill, positive buzz, and happy customers is to exceed expectations. Responding proactively to problems is, in my opinion, one of the easiest ways to exceed the expectations available. Problems happen, that’s a fact.

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Building a Business Case for Finance Automation

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.

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Calculating the Churn Rate of a SaaS Startup? See the Real Picture.

BurklandAssociates

Looking at lost customers as a percentage of total customers at the beginning of the period understates churn rates for annual pay customers and obscures retention problems in fast-growing enterprises. Read More. The post Calculating the Churn Rate of a SaaS Startup? See the Real Picture. appeared first on Burkland.

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How To Evaluate Where You Have Established Economic Nexus

TaxConnex

Sales tax is more complicated than ever, especially in a post-Wayfair world. And what’s worse is that everyone who says they’re simplifying sales tax is still leaving the hardest parts – and the liability – up to you. In fact, a recent survey TaxConnex conducted through Porter Research found that the top sales tax worry of finance pros in 2021 was understanding changing nexus laws.

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Can You Pay That?! Federal and State Tipped Minimum Wage Rates

Patriot Software

Want to avoid breaking labor laws? Then you need to pay employees according to federal, state, or local minimum wage law. But if you have tipped employees, you might be able to pay a lower, tipped minimum wage. Read on to learn what is a tipped minimum wage, along with the current federal tipped wage […] READ MORE.

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Fraud Potential When Factoring Receivables

RogerRossmeisl

If your business struggles to generate steady cash flow from operations, factoring is a possible solution. With factoring, a business sells the right to collect on customer invoices to a factoring company in exchange for an immediate payment. If you have slow-paying customers, factoring accelerates the collections process. But some companies abuse factoring and use it to commit fraud.

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TaxConnex Rounds Out 2020 with an 18% Growth in Organic Revenue and an Industry Leading Net Promoter Score (NPS) of 83

TaxConnex

TaxConnex is excited to report exciting growth coming out of 2020. While 2020 was full of chaos and trials, sales tax filings and returns d id not stop , and we were able to continue to assist our clients and grow as a company in both employee size and revenue. TaxConnex grew 18% in organic revenue in 2020 over 2019 and added 82 new client entities to our portfolio.

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Client Classification: Finding the Win-Wins to Generate more Profit

PANALITIX

RESOURCES / ARTICLES. Client Classification: Finding the Win-Wins to Generate more Profit. If you are a manufacturer, an important business asset will include your factory and the machines inside. Taking good care of the machines will help them work more efficiently and preserve their working life. Sounds like smart business. In an accounting business, what are your most important assets?

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Fall In Love With the Month-End Close

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.

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Tax Aspects of The American Rescue Plan Act

Withum

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How to Qualify for Home Office Deductions

RogerRossmeisl

During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might qualify for home office deductions and be able to claim to expenses against your business income. There are two methods for claiming this tax break: the actual expenses method and the simplified method.

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Celebrating Women’s History Month: Advice for women in tax and accounting

ThomsonReuters

Whether you’re starting your career, or you’ve been in the profession for a while, women have more opportunities than ever to rise above in the tax and accounting profession. As we enter Women’s History Month and celebrate International Women’s Day, we also celebrate evolution past gender cultural bias and advancements within the profession. In this chapter of Small Talk with Heather Walker , I am joined by two successful women in the tax and accounting profession: Linda Forde, CPA and owner of

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Engagement Letters: Untangling what you WANT to say from what you feel you HAVE to say

PANALITIX

RESOURCES / ARTICLES. ENGAGEMENT LETTERS: UNTANGLING WHAT YOU WANT TO SAY FROM WHAT YOU FEEL YOU HAVE TO SAY. Whether you’re buying a dishwasher or proposing tax services – there are some Terms and Conditions that are really important to understand from the outset and others that are probably not critical. Here’s how to hone in on what is really important to communicate in a proposal and save time for everyone !

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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It That a Cayman Islands SPAC I just Invested In?

Withum

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A Thank You to the Women of ADC!

AccountingDepartment

AccountingDepartment.com is proud of our amazing, hard-working, dedicated women who make up the bulk of our team and for this International Women’s Day, we would like to take a moment to thank all of the women that keep us moving forward on a day-to-day basis. Our female team members have made an incredible impact on our business over the years and we would not be where we are today without them!

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Congress Passes ARPA With Many COVID-19 Payroll-Related Provisions

ThomsonReuters

Background. The American Rescue Plan Act of 2021 (ARPA) extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Consolidated Appropriations Act, 2021 (CAA, 2021). Paid Sick and Family Leave Credits. Changes under ARPA apply to amounts paid with respect to calendar quarters beginning after March 31, 2021.

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Small Business Technology Trends For 2021

GrowthForceBlog

5 min read. 80% of small businesses in the United States aren’t taking complete advantage of the technology tools that are available to them- according to a recent Google report [1].

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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National Debt Amount

Withum

According to the National Debt Clock, the total debt as of March 7, 2021 was $28,024,870,801,925.00. You can get the current number by going to [link].

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The Major Aspect of Business You'll Have to Decide In 2021?

AccountingDepartment

While attending the virtual Vistage Executive Summit , Anne Petrick, Sr. Director of Research at Vistage Worldwide, Inc. presented to us some interesting thought points for CEOs and business owners in 2021.

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Why your accounting firm needs a succession plan

ThomsonReuters

We’ve seen the impact the COVID-19 pandemic took on succession planning for accounting firms. For anyone who didn’t exit during the pandemic but were thinking about it before, they’ve had their plans pushed back. Our businesses are quite different than they were before. We survived, but what on earth do we do now? In this episode of Pulse of Practice “Setting Course for the Next Chapter”, Paul Miller, CPA from Business by Design , and I discuss the importance of accounting firm leaders to contin

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Why Employee Retention Is Important And How To Improve It

GrowthForceBlog

5 min read. Every business owner’s nightmare- one of your ‘A’ players walks out the door. Regardless of the position, employee retention should be one of your top goals. From the individuals answering phones and sorting the mail, to those working as supervisors and filling other high-level positions, keeping the people you have is essential to your company's success and your bottom line.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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James Ferrare Named on Forbes Best-In-State Wealth Advisor List

Withum

Jim Ferrare was named to this year’s 2018 Best-In-State Wealth Advisors list by Forbes. The list spotlights the top performing wealth advisors across the country. Each state’s list is determined by SHOOK research, an algorithm based on qualitative and quantitative criteria including in-person interviews, candidate’s industry experience, community involvement, client retention data and revenue trends.

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The Scoop on the California Paid Sick Leave Law

Patriot Software

Some states, like California, require mandatory paid sick leave. The majority of California’s employers must offer paid sick leave to their employees. So, what is the California sick leave law? What is the California paid sick leave law? Paid sick leave is paid time off given to employees for health-related reasons. Through paid sick leave, […] READ MORE.

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COVID Relief Bill Temporarily Increases DCAP Maximum, Expands ACA Premium Tax Credit, and Extends Tax Credit for Paid Leave

ThomsonReuters

American Rescue Plan Act of 2021, H.R. 1319. Available at [link]. Congress has passed, and the President is expected to sign, the American Rescue Plan Act of 2021 (ARPA), providing sweeping COVID-19 relief that includes several benefits-related provisions. A 100% COBRA premium subsidy has drawn perhaps the most attention (see our Checkpoint article ), but other items are also of interest to group health plan sponsors, administrators, and advisors.

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Why The Most Successful Businesses Run On Operating Frameworks

GrowthForceBlog

5 min read. If running a business was easy, every business would succeed. Fortunately for your market share, but unfortunately for those aspiring to be successful business leaders, running a business isn't easy. It's an enormous challenge that requires limitless energy, passion, creativity, stamina, and flexibility.

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Profit in the Details: Rethinking Spend for Monumental Impact

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

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ACT NOW: Forgivable PPP Loan Eligibility for Labor Unions and Certain Benefit Plans

Withum

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3 Signs Things Are Looking Up for 2021!

AccountingDepartment

During the virtual Vistage Executive Summit in Portland, OR this past week, we were shown some interesting figures by Connor Lokar of ITR Economics, comparing surveys from a group of Pacific Northwest CEOs from Q4 of 2020 to Q1 of 2021. The results? Well, it seems that things are certainly looking up! 32% of CEOs said that the economy has recently improved, versus the 6% that thought so in Q4 of 2020.

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What Are the Tax Consequences of Providing Per Diem Payments for Employee Travel Expenses?

ThomsonReuters

QUESTION: Our company would like to simplify reimbursements for business travel expenses by paying employees a fixed amount for each travel day regardless of incurred expenses. How can we keep the per diem payments from being treated as income to our employees, and how would those payments affect employees’ expense reporting? ANSWER: Per diem payments are often used to simplify compliance with the accountable plan rules that allow business travel reimbursements to be excluded from employees’ g

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8 Tax Breaks for Homeowners: Deductions & Credits List For 2021

LyfeAccounting

We’re about to reveal the best and biggest tax breaks for homeowners. Homeownership offers some of the best tax deductions and tax credits that can save you thousands of dollars in taxes. Yet, every year, homeowners miss out because they are not aware. But you’re not one of them…. Because if you read this post today, you will know the best and biggest tax deductions available to homeowners so you can benefit BIG TIME.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

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.