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.
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.
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.
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.
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.
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).
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.
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: 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.
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.
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.
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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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.
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.
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: 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
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.
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.
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
LSLCPAs
AUGUST 23, 2021
When, What, How, Why, and Who We all know the importance of planning and having procedures in place to help manage our workflows, our families, and our lives. Procedures help us develop a routine. They save time. Let’s look some aspects of procedures in the accounting field. When to use procedures in small and big. The post Robust Accounting Procedures Can Save Companies appeared first on LSL CPAs.
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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.
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.
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?
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).
AccountingDepartment
AUGUST 23, 2021
For the past 25 years, the Hartford Business Journal's 40 Under Forty Awards have recognized outstanding young professionals in the Greater Hartford area that excel in their industries through their leadership roles. These individuals are driven by success, motivated by challenges, and are role models for their peers.
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.
FraudFiles
AUGUST 23, 2021
Divorces can go on for years. It’s emotionally taxing, and of course, the longer a divorce goes on, the more expensive it gets. Can you imagine a divorce that goes on for seven years? Scott Hassan and Allison Huynh were married for 13 years when he sent her a text in 2014 saying the marriage was over. They’re still fighting because they’ve got billions of dollars of assets to divide.
RogerRossmeisl
AUGUST 26, 2021
Some organizations struggle to prevent cyberattacks because they rely on cybersecurity tools and techniques that protect only their perimeter. Perpetrators who make it past a single line of defense (such as with a username and password) can gain unfettered access to the company’s network. They can then use ransomware to block access to data or steal customer information or intellectual property.
ThomsonReuters
AUGUST 26, 2021
Schwartz v. ADP, Inc., 2021 WL 3172029 (M.D. Fla. 2021). As part of a larger employment action involving allegations of wrongful termination, wiretapping, and unfair trade practices, a former employee sued his employer for not providing a COBRA election notice when he was terminated. The employee alleged that without the notice, he was unable to make an informed decision on health insurance coverage, which caused him to lose coverage and to postpone having a baby.
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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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