TaxConnex
JANUARY 27, 2022
The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Add a tight job market and the task for many companies has become nearly impossible. First, what’s influencing the availability of workers lately? The national unemployment rate dropped to 3.9% by the end of last year, meaning that fewer people willing or able to work are still looking for a job.
BurklandAssociates
JANUARY 24, 2022
The fractional CFO model has seen a big rise in popularity among startups in recent years. Solid financial guidance is one of the keys to scaling a startup, and a Read More. The post Is My Startup Ready for a Fractional CFO? appeared first on Burkland.
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SMBAccountant
JANUARY 27, 2022
When doing your taxes, there are a lot of things to keep track of. If you're trying to do it all yourself, it can be tough to stay organized and make sure you're including everything. Using a project management tool can help make the process easier and less overwhelming. Here are five reasons why you should use a project management tool when doing your taxes.
RogerRossmeisl
JANUARY 26, 2022
The cost (or asset-based) approach to valuing a business focuses on the balance sheet. This financial statement reports “book values” for the company’s assets and liabilities. Here’s how the cost approach works and when it might be an appropriate method of valuation. Book value vs. fair market value Amounts reported on a company’s balance sheet for its assets and liabilities may not reflect their fair market value to a potential buyer or seller.
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.
TaxConnex
JANUARY 25, 2022
TaxConnex is excited to announce a record-breaking 2021 and reports annual organic revenue growth of 19% in 2021, proving that as sales tax becomes more complicated, businesses are continuing to look for a trusted provider to manage the burden for them. We are also excited to share that last year we onboarded more new clients than ever before and will have remitted over $1.5B in sales tax for our clients from 2021 returns.
Withum
JANUARY 28, 2022
In this post, we are sharing helpful Microsoft Teams tips and tricks to enhance your Teams collaboration journey. Through our work with various organizations, we gathered commonly requested tips that will help staff navigate day-to-day while in Teams. Microsoft Teams provides many ways to do things and we narrowed it down to 10 Team tips and tricks to help your organization adopt Teams. 1.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
JANUARY 26, 2022
While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a number of reasons why they decided to start a business in the midst of a pandemic. For example, they had more time, wanted to take advantage of new opportunities or they needed money due to being laid off. Whatever the reason, if you’ve recently started a new business, or you’re contemplating starting one, be aware of the tax implications.
Patriot Software
JANUARY 26, 2022
Hired your first employee? Check. Set a start date? Check. Ready to process payroll? Not quite yet. Before you can start paying your employees, there are a few steps you need to know and some terms to learn. This handy payroll 101 guide explains how to set up payroll the right way so you can […] READ MORE.
Withum
JANUARY 26, 2022
With new technology comes new opportunities for investors to make money. While cryptocurrencies (crypto) and the blockchain have been around for nearly a decade, they are relatively new to mainstream financial conversations, and currently, more people are investing in crypto than ever before. For those who are unfamiliar with cryptocurrency, crypto is a form of digital currency that is supported by blockchain technology whose value fluctuates based on supply and demand.
ThomsonReuters
JANUARY 27, 2022
QUESTION: Our company is an applicable large employer (ALE) that sponsors a self-insured group health plan. We know we have to file Forms 1094-C and 1095-C for the 2021 calendar year. When are these forms due? ANSWER: ALEs must report to the IRS whether they offered full-time employees and their dependents the opportunity to enroll in minimum essential coverage under an eligible employer-sponsored plan, whether the offered coverage was affordable and provided minimum value, and certain other i
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.
RogerRossmeisl
JANUARY 26, 2022
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1 Contact us soon for an appointment to prepare your tax return. Tip 2 Gather all documents needed to prepare an accurate return. This includes W-2 and 1099 forms. In addition, you may have received statements or letters in connection with Economic Impact Payments (EIPs) or advance Child Tax Credit (CTC) payments.
SkagitCountyTaxServices
JANUARY 26, 2022
This past weekend’s NFL playoff games were maybe some of the best post-season games to watch in a long, long time… with some of the most unexpected outcomes. Who would have believed that all but one of the top teams from the regular season would be unseated from a Super Bowl trajectory? The power of the underdog is not to be underestimated. But surprising outcomes and the power of the little guy is a story employers all over the country are all too familiar with right now.
Withum
JANUARY 27, 2022
Withum proudly announced that the Firm received a score of 100 on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index, the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. Withum joins the ranks of over 840 major U.S. businesses that also earned top marks this year.
ThomsonReuters
JANUARY 28, 2022
Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year. Figuring out how to stabilize revenue throughout the year can help you reduce overall stress and improve income potential.
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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.
GrowthForceBlog
JANUARY 25, 2022
3 min read. Consortium for Educational Change is making waves in the education system- and the proof is in the numbers. CEC's mission to help build collaborative cultures, and evidence-based practices that empower adults and students are heavily evident in their measurable impact. After they supported Peoria High School in Illinois, they saw a 27% increase in students meeting and exceeding standards on the NWEA reading test and a 29% increase in math scores!
Patriot Software
JANUARY 24, 2022
Generally, paying employees hourly or salary wages is a straightforward process. But, what happens when you pay employee commissions or bonuses? You may need to use a supplemental flat tax rate for federal and state income taxes. Not all states require supplemental tax rates. So, take a look at the supplemental tax rates by state […] READ MORE.
Withum
JANUARY 25, 2022
Learn how a non-profit organization in New York City, which has provided essential services throughout the pandemic, leveraged its existing investment in Microsoft 365 to create a customized vaccine and testing tracker application. Download a PDF of this case study. Executive Summary. An established non-profit with over 100 years of service to NYC requested support in launching a COVID testing and vaccination tracker to bring staff back into the office.
ThomsonReuters
JANUARY 27, 2022
Federal Independent Dispute Resolution (IDR) Process Guidance for Certified IDR Entities (Dec. 2021). Available at [link]. The DOL, IRS, and HHS have issued a process guide for certified independent dispute resolution (IDR) entities with details on the various aspects of the IDR process under the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA) (see our Checkpoint article ).
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
AccountingDepartment
JANUARY 24, 2022
NetSuite has several important project management tools. This includes tracking time and costs and paying any vendors used in the project.
RitaKeller
JANUARY 25, 2022
“There is no greater impediment to the advancement of knowledge than the ambiguity of words.” – Thomas Reid. When selecting a new managing partner there are a lot of factors to consider. Sometimes the vocal, flashy, energetic, extrovert seems to be the logical choice. I have observed that often those types of personalities are also very hot and cold.
Withum
JANUARY 26, 2022
COVID-19 changed the dynamic of supply chains around the world, leading companies to learn the benefit of digital investments in maintaining their business structure and supply chain resilience during an emergency. The pandemic gave new meaning to risk management and elevated the importance of how a company can respond to unplanned events. On a macro level, manufacturers worldwide are now faced with new pressures resulting from materials shortages, inconsistent demand and worker unavailability.
ThomsonReuters
JANUARY 27, 2022
Notice 2022-6 (Jan. 18, 2022). Available at [link]. The IRS has updated its guidance regarding when payments from qualified retirement plans (including 401(k) plans, other tax-qualified plans, and IRAs) are considered substantially equal periodic payments that are not subject to the 10% additional tax on early distributions. (There are also other exceptions to the tax—e.g., for distributions after death or attaining age 59 1/2.
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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.
AccountingDepartment
JANUARY 27, 2022
When it comes to owning a business, the last thing anyone wants is to spend valuable time sorting out their accounts. After all, business owners have much more pressing things to contend with on a daily basis. Yet while this is the case, it's important that businesses keep on top of their accounting and don’t let it slide — which is where a virtual bookkeeping company comes in.
Accounting Web
JANUARY 26, 2022
Sales Tax Taxation of the Metaverse is Coming.
Withum
JANUARY 24, 2022
Last week the IRS announced some changes to the Schedule K-2 and K-3 instructions. The update includes some additional language around who has to file the Schedules K-2 and K-3. The instructions now indicate that a partnership with no foreign source income, no assets generating foreign source income, and no foreign taxes paid or accrued may still need to report information on Schedules K-2 and K-3.
ThomsonReuters
JANUARY 27, 2022
Hughes v. Northwestern Univ., 2022 WL 199351 (U.S. 2022). Available at [link]. The U.S. Supreme Court has overturned an appellate court’s dismissal of participants’ claims that retirement plan fiduciaries breached ERISA’s duty of prudence by (1) retaining recordkeepers that charged excessive fees; (2) offering investments in “retail” share classes that carried higher fees than those charged by otherwise identical “institutional” classes; and (3) including so many investment alternatives that pa
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.
GrowthForceBlog
JANUARY 27, 2022
7 min read. Running a Nonprofit and running a for-profit have more similarities than you may think.
MazumaBusinessAccounting
JANUARY 28, 2022
After a tight competition that included nearly 300 small business owners, Mazuma USA is thrilled to announce the winner of our first-ever $10K giveaway: Bruce Bassi, founder of TelepsychHealth. Dr. Bassi started TelepsychHealth in 2018 to improve access to mental health services, providing patients with the resources, support, and help they need when and where they need it.
Withum
JANUARY 24, 2022
A good Enterprise Resource Planning (ERP) project like selecting a manufacturing ERP system involves an IT team, and maybe even external consultants. But a great ERP selection project holistically involves vital people from all business areas affected. It keeps everybody informed about the transparent process and provides valuable feedback. Whether it’s process automation or standardization, critical drivers of any future growth rely on a robust system executed by a team that collaborates.
Steve Feinberg
JANUARY 27, 2022
Beginning with tax periods that end on or after December 31, 2022, business taxpayers with gross sales of $92,000 or less are NOT required to file a Business Profits Tax return. Previously, this was $50,000. This is an obvious planning opportunity for small businesses that will no longer have to pay to prepare a New Hampshire return, since it’s no longer required.
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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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