RogerRossmeisl
AUGUST 23, 2021
As posted to the Lex Fridman YouTube Channel on 8/20/21 (Run Time: 11 min, 29 sec) “Tesla AI Day presented the most amazing real-world AI and Engineering effort I have ever seen in my life” — Lex Fridman On 8/19/21, Elon Musk convened Tesla AI Day, an event to share progress in the automaker’s software and hardware development related to artificial intelligence.
BurklandAssociates
AUGUST 24, 2021
Many companies find themselves in return-to-work limbo, trying to determine what expectations to set for employees who have been working from home for more than a year. Making these decisions Read More. The post Is “Remote-First” the Future of Work for Startups? appeared first on Burkland.
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TaxConnex
AUGUST 26, 2021
Is it just your imagination or is e-commerce expanding every year? It’s not your imagination. Let’s see some numbers : 5% of global internet users have purchased products online. The e-commerce industry is growing 23% year-over-year (yet 46% of American small businesses still don’t have a website). By 2040, an estimated 95% of all purchases will be through e-commerce.
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.
RogerRossmeisl
AUGUST 27, 2021
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults on the loan and you’re required to pay principal or interest under the guarantee agreement, you don’t want to be blindsided.
MazumaBusinessAccounting
AUGUST 26, 2021
What Is the Hobby Loss Rule? If your business goes too many years without making a profit, it can be classified as a hobby. When it becomes a hobby, you can no longer claim losses as business deductions. In order to determine if you are running a business or a growing hobby, the Internal Revenue Service (IRS) looks at the following qualifications: Do you put in the time to turn a profit?
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
AUGUST 25, 2021
Friday, I start teaching for the first time at my alma mater, Baruch College. I will be teaching Financial Accounting to non-accounting majors. It will be presented on Zoom to 70 undergraduate students ranging from Freshmen to Seniors and it is a 3:45 PM weekly session for 15 weeks. My quandary is how to keep them engaged, interested and excited.
RogerRossmeisl
AUGUST 24, 2021
If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. 1. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 7.5% of adjusted gross income (AGI).
AccountingDepartment
AUGUST 27, 2021
NetSuite searches and reports provide the data managers need to run and improve their business. Here's how to use them.
GrowthForceBlog
AUGUST 23, 2021
5 min read. The fact is: 1 in 12 businesses close each year! (According to the U.S Small Business Administration).
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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.
xendoo
AUGUST 24, 2021
Where to Begin? Businesses are created because business owners have a passion that needs to be pursued. They may be changing the world and even their own lives. Payroll , however, is most likely not their passion. Yet, every business owner faces the unique challenge of figuring out how to pay themselves. Paying yourself as a sole proprietor can feel daunting.
RogerRossmeisl
AUGUST 27, 2021
(This is Blog Post #1083). The post 5 Ways to Grow Your Business appeared first on Roger Rossmeisl, CPA.
AccountingDepartment
AUGUST 25, 2021
A yearly financial close can be a laborious process that accounting and finance departments dread. It requires tracking down information from other departments, ensuring financials are accurate, and identifying/correcting errors. However, a financial close is only as hard as the business makes it. Having processes and procedures in place from the start will help minimize the time it takes to finalize a close.
GrowthForceBlog
AUGUST 26, 2021
5 min read. How much does it cost to hire an in-house bookkeeper, accountant, or controller? How much does an outsourced accounting department cost? Which is best for my business?
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.
RogerRossmeisl
AUGUST 23, 2021
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know your options for setting it up. Here are the basics of operating as an LLC and why it might be appropriate for your business. An LLC is somewhat of a hybrid entity because it can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purposes.
SkagitCountyTaxServices
AUGUST 26, 2021
One thing you can expect from me come rain or shine is to keep you in the loop on changes to all things tax-related. This week is no exception. There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. But first, let’s briefly talk 2021 Infrastructure bill. While the bill is getting some serious push and pull in the House, there are conflicting views on how this will affect small businesses.
FraudFiles
AUGUST 26, 2021
My investigations are rooted in financial documents, as I am most often trying to trace money and figure out where it went. (Thus, my unofficial tagline of: “I find money!”). But incorporated into the financial investigations is often background investigative work. To be clear: I don’t do deep-dive background investigations. For something like that you’d go someone like Marcy Phelps or Philip Segal.
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.
RogerRossmeisl
AUGUST 25, 2021
“Vishing” may sound familiar, but unless you’re a fraud investigator, you probably haven’t encountered it. Unfortunately, that could change. soon. To foil a scam that increasingly takes advantage of remote workers, learn what vishing is and how your business can prevent it from infiltrating your network. Clarifying terms Vishing isn’t the same as “phishing.
ThomsonReuters
AUGUST 26, 2021
QUESTION: We are considering changing our company’s major medical plan from fully insured to self-insured. Are we required to purchase stop-loss insurance? Can you briefly describe how stop-loss insurance works in connection with a self-insured health plan? ANSWER: Stop-loss insurance is not required for self-insured plans, but many employers find it beneficial to help manage the financial risks of self-insuring by protecting the employer/plan sponsor in the event of catastrophic claims.
RitaKeller
AUGUST 24, 2021
“When you bring your best to the table, no matter where you are or what you are doing, you bring out the best in others. And soon, you start to realize, that, in turn, helps them bring out the best in you.” – Bruce Tulgan. If you are a regular reader of this blog, you know that I admire Bruce Tulgan. Tulgan is an American writer specializing in management training and generational diversity in the workforce.
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.
RogerRossmeisl
AUGUST 25, 2021
If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary, middle and high schools, as well as those attending college, graduate school or accredited vocational schools. It doesn’t matter if the scholarship makes a direct payment to the individual or reduces tuition.
Ronika Khanna CPA,CA
AUGUST 27, 2021
An accounting system can be an extremely powerful tool for business owners. When structured with the specific needs of the business in mind, it has the power (through the magic of debits and credits) to convert data into a format that tells an interactive, completely personalized story about your business. By providing feedback on how your business is doing it allows you to understand its strengths and weaknesses which ultimately helps you to improve profits.
ThomsonReuters
AUGUST 26, 2021
M.S. v. Premera Blue Cross, 2021 WL 3511094 (D. Utah 2021). Available at [link]. A self-insured health plan denied coverage for a minor child’s residential mental health treatment, finding that the treatment was not medically necessary. The child’s family sued the plan, plan administrator, and claims administrator for (1) denial of benefits under the terms of the plan, (2) violation of the Mental Health Parity and Addiction Equity Act (MHPAEA), and (3) violation of ERISA’s disclosure requiremen
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
RogerRossmeisl
AUGUST 25, 2021
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or two or more related transactions), must file Form 8300. What is considered a “related transaction?
CTP
AUGUST 24, 2021
In a previous blog, we discussed tax basis—the amount that a taxpayer has invested in business assets, which determines the gain or loss when the asset is sold. Remember that a taxpayer must have sufficient basis to deduct a business loss on their tax return. Another set of tax rules that can be overlooked is […]. The post Tax Basis for Inherited or Gifted Property: Implications for S Corporations and Partnerships appeared first on certifiedtaxcoach.
ThomsonReuters
AUGUST 26, 2021
FAQs About Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 49 (Aug. 20, 2021). Available at [link]. The DOL, HHS, and IRS have issued FAQ guidance (Part 49) on implementation of the transparency in coverage (TiC) regulations and overlapping transparency provisions in the Consolidated Appropriations Act, 2021 (CAA).
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