TaxConnex
MARCH 29, 2022
Subscription-based selling is appealing to businesses for its reliability of loyal customers and steady revenue. From gift boxes to magazines to cutting-edge software, it’s one of the most diverse ways of selling. The model does come with steady sales tax obligations and risks though, and if not properly understood, it could lead to significant sales tax risk in the business.
BurklandAssociates
MARCH 29, 2022
What will the future of work for startups look like? Shahar Erez, Co-Founder & CEO of Stoke Talent, joined us on Startup Success to share his thoughts on the future Read More. The post How to Prepare Your Startup for the Future of Work appeared first on Burkland.
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RogerRossmeisl
MARCH 28, 2022
Keeping track of every IT asset — particularly as remote work has become common — is essential if your company wants to limit financial losses and fraud risk. According to some estimates, most remote employees use at least two employer-assigned devices, and a smaller percentage use three or more. In general, the more devices in use, the greater the potential for loss or theft.
Acterys
MARCH 28, 2022
The purpose of any forecast is to provide the closest possible snapshot of the future for business teams to plan and budget their activities. In essence, a good forecast is determined by its flexibility to evolve as per the changing conditions instead of sticking to the same initial projections across the financial period. As such, rolling forecasts are a solid first step towards agile planning and budgeting for organizations looking to become more reactive and adaptive to change.
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
MARCH 31, 2022
Sometimes if we hear a phrase often enough, we don’t appreciate the importance of all the words. One such phrase is “sales and use tax.”. We sure know what “sales” tax is. What about Use Tax? Use tax is defined ?as a tax on the storage, use or consumption of a taxable item or service on which no sales tax has been paid. A complementary or compensating tax to the sales tax, it’s required to be paid by the buyer in cases where the seller does not collect sales tax.
Withum
MARCH 29, 2022
Crowdfunding is an alternative way of raising funds for a startup, requesting donations for a specific charitable cause, or even collecting money for individuals in need. The contributions are usually in small amounts, but the funds raised can be significant. The question is, are funds raised through websites like Kickstarter, GoFundMe, Kiva and Indiegogo taxable?
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
MARCH 31, 2022
QUESTION: Our company is adding a high-deductible health plan (HDHP) option next year, so that employees who choose the HDHP and otherwise meet the HSA eligibility requirements can establish and contribute to HSAs. What will happen to the funds in an HSA after an account holder dies? ANSWER: Upon the death of an HSA account holder, any amounts remaining in the HSA transfer to the beneficiary named in the HSA beneficiary designation form.
MyIRSRelief
APRIL 1, 2022
Amending and or correcting a US individual 1040 income tax return (1040X), there are many reasons to do so: correcting filing status of the taxpayers, which if not corrected, would result in incorrect total income reported, tax deductions and tax credits. Taxpayers should timely correct and amend their personal tax returns to assure inaccuracy of penalties being assessed, and of course to avoid a possible audit and its significant impact on you the taxpayer, if located in Los Angeles, CA or othe
Withum
MARCH 31, 2022
Withum is excited to welcome Lynn Mucenski-Keck to the Firm’s National Tax Services Group in the role of Principal, specializing in tax planning for businesses. With over 20 years of experience, Lynn has industry expertise in healthcare, hospitality, real estate and manufacturing distribution and logistics. At Withum, she will focus on Federal tax planning and policy, working with the National Tax Services Group to ensure clients’ understanding of dynamic tax guidance and maximize their cash imp
RogerRossmeisl
MARCH 28, 2022
(This is Blog #1180). The post Why Your Company Needs an Expense Reimbursement Policy appeared first on Roger Rossmeisl, CPA.
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ThomsonReuters
MARCH 31, 2022
Insurance Standards Bulletin Series – Information – Extension of Limited Non-Enforcement Policy through 2023 and Later Benefit Years (Mar. 23, 2022). Available at [link]. CMS has indefinitely extended the limited nonenforcement policy allowing states to permit insurers in the individual and small group markets to renew health insurance policies that would otherwise have to be canceled due to noncompliance with certain Affordable Care Act (ACA) insurance market reforms.
AccountingDepartment
MARCH 31, 2022
Cash is constantly moving in and out of businesses. For example, when a retailer purchases inventory, money flows out of the business to its suppliers. But, when that retailer sells something from its inventory, cash flows into the business from the consumer.
Withum
MARCH 28, 2022
Withum is excited to announce that Caroline Banzali has joined the Firm’s Transaction Advisory practice as a partner specializing in tax due diligence, structuring and post-transaction integration and tax optimization planning. With over 20 years of experience in strategic planning, mergers and acquisitions, buy- and sell-side transactions, Caroline’s experience and background as both a service provider and corporate executive has culminated in Caroline’s unique arsenal of commercial business co
RogerRossmeisl
MARCH 28, 2022
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex calculations, which we can take care of for you. But in addition to the credit itself, be aware that the credit also has two features that are especially favorable to small businesses: Eligible small businesses ($50 million or less in gross receipts) may claim the credit against alternativ
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.
ThomsonReuters
MARCH 28, 2022
You ’ ve found the ideal tax and accounting research solution for your firm. With features like interactive workflow tools, relevant analysis, and up-to-date guidance, you ’ re certain that this software will save you time while getting to trusted answers — and have a positive impact on you, your team and your clients. . 4 tips to help prepare your business case .
AccountingDepartment
MARCH 30, 2022
Forecasting revenue is an important task for businesses to provide insight to what is coming in the future. It allows for a clear idea of a company's financial standing, helps identify potential risks, and set owners and management up to make adjustments to the business plan throughout the year.
Withum
MARCH 28, 2022
Residential and commercial real estate management company engages outsourced accounting services to fill needs after the retirement of a former outsourced accounting firm. Download a PDF of this case study. Executive Summary. A NYC-based residential and commercial real estate management company transformed its back-office through outsourced accounting services.
RogerRossmeisl
MARCH 28, 2022
You may have wondered why, in a given year, you may be taxed on more S corporation income than was distributed to you from the S corporation in which you are a shareholder. The answers lies in the way S corporations and their shareholders are taxed. But before explaining those rules, be assured you that when you are taxed on undistributed income, you won’t be taxed again if and when the income ultimately is paid to you.
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.
Accounting Web
MARCH 30, 2022
Practice How Small Business Owners Can Prepare to Retire.
GrowthForceBlog
MARCH 31, 2022
9 min read. The Great Resignation spurred on by the pandemic has exposed egregious problems with company culture, work-life balance, and employee engagement around the world, with employees leaving their dissatisfying jobs in droves, leading to unprecedented employee turnover rates.
Withum
MARCH 31, 2022
Many employers are now offering to accommodate hybrid work arrangements. This is already having an effect on commercial real estate as landlords are downsizing office spaces in response to tenant demand. This shift is also having a growing effect on residential rental spaces as well, as landlords begin to offer new and creative accommodations in an effort to keep current tenants and draw in new tenants.
SkagitCountyTaxServices
MARCH 30, 2022
I can’t write without mentioning that somewhat awkward, somewhat shocking, somewhat moving star-studded Oscars event. There were some, well, memorable scripted (and *unscripted*) moments. One truly happy surprise was the best picture winner CODA (child of deaf adults) – the first streaming service movie to win Best Picture. Apple’s foray into Hollywood glory is showing how businesses can go beyond money-making endeavors to truly make a difference.
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.
Randal DeHart
APRIL 1, 2022
Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with. They will likely find more deductions that can save you money and, in some cases, mean the difference between success and failure in your construction company.
Nancy McClelland, LLC
MARCH 29, 2022
A short article in today’s Accounting Today newsletter (which I highly-recommend) included an extremely helpful snippet that I want to make sure to spread far-and-wide. To validate and successfully submit an electronically filed tax return to the IRS , taxpayers need their adjusted gross income, or AGI, from their most recent tax return. The IRS has a couple of “special tips” to ensure the tax return is accepted by the IRS for processing.
Withum
MARCH 30, 2022
On February 16, 2022, the Small Business Administration (“SBA”) released additional information for Shuttered Venue Operators Grant (“SVOG”) recipients: SVOG Post-Award FAQs and SVOG Post-Application Guidance. This additional information clarifies the rules surrounding payments included in the Independent Contractors budget line item (6a) for SVOG recipients. .
Ryan Lazanis
MARCH 31, 2022
Do you have too much on your plate right now? If yes, it’s probably the right time to hire someone to help you out. In this episode, I shared my journey in hiring and managing a virtual assistant, or VA, and how it helped me save more time. Listen below. 1:25 – I hired my first virtual assistant to help take some of the administrative burdens off my plate. 1:46 – They handle everything from assisting with marketing tasks to interacting with my customers. 2:15 – The right
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
Inform Accounting
APRIL 1, 2022
Tax policy is used to influence behaviour as well as to collect revenue. One example where this is the case is the company car tax rules which tax high emission cars heavily and reward drivers for choosing electric and low emission models. Why emissions matter for tax? Where an employee has a company car that is available for his or her private use, they are taxed on the benefit that this provide.
FraudFiles
APRIL 1, 2022
Insider fraud is most commonly detected in companies through a tip, either from an employee, a customer, a vendor, or an outside party. Anonymous hotlines are excellent tools for reporting fraud, but management must have a plan for evaluating these tips. Some tipsters are okay with revealing their identities from the start. Others fear retribution or damage to their own reputations, so they prefer anonymous reporting.
Withum
MARCH 31, 2022
This quarterly newsletter will encompass timely insights relevant to your dealership. Contact Us. For questions or additional insight, contact Withum’s Dealership Services team to help address your dealership challenges. Contact Us. Dealership Services. Partner Spotlight. James Berg. Partner East Brunswick, NJ. The post Dealer Vision: Volume VI appeared first on Withum.
Going Concern
MARCH 31, 2022
We usually reserve this space on Going Concern for our tax preparer friends who have to deal with mostly client-initiated and other unexpected problems on a daily (hourly?) basis during busy season. And we’ll get to them next week as they near the home stretch of the April 15 18 filing deadline. Erin Collins. But today I wanted to bring to your attention a blog post from National Taxpayer Advocate Erin Collins.
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