TaxConnex

OCTOBER 14, 2021

The majority of businesses still manage their sales tax obligations with internal staff, but do they have what it takes to manage sales tax effectively? Most businesses don’t have the internal expertise to accurately manage it in-house, especially in the current work environment where finding and keeping the best talent is difficult at best. Sales tax compliance involves everything from determining if your company is obligated to collect and remit sales tax in a jurisdiction (aka nexus) and moni

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Sales E-commerce Tax Start-ups 246

GrowthForceBlog

OCTOBER 14, 2021

5 min read. Spoiler alert: Both cost accounting and management accounting are intended for internal use by business leaders. Smart leaders use it to improve organization operations and boost the bottom line.

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cost accounting management accounting management accounts Account 76

Withum

OCTOBER 11, 2021

Account 119

Account accounted accountant 119

RogerRossmeisl

OCTOBER 12, 2021

Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” rates that became effective October 1, 2021. Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling away from home. (Taxpayers in the transportation industry can use a special transportation industry rate.

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Transportation CPA business tax Tax 217

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.

Finance

TaxConnex

OCTOBER 12, 2021

NOMAD and sales tax – I’m sure you’ve heard it before. But what does it mean? When it relates to sales tax, the NOMAD states refer to the five American states without a statewide sales tax: New Hampshire, Oregon, Montana, Alaska, and Delaware. When named in that order they make up an acronym lover’s dream: “NOMAD.”. While most of the country is accustomed to the idea of a sales tax, this handful of states don’t impose this tax on their residents (at least at the state level).

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Sales Montana Alaska Delaware 245

BurklandAssociates

OCTOBER 12, 2021

What is a PEO? A Professional Employer Organization (PEO) allows its participants to outsource many of their human resource functions, share employment liability, and, often, gain economies of scale to Read More. The post PEO for Startups: Save Costs & Improve Benefits appeared first on Burkland.

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RogerRossmeisl

OCTOBER 12, 2021

If you own a valuable piece of art, or other property, you may wonder how much of a tax deduction you could get by donating it to charity. The answer to that question can be complex because several different tax rules may come into play with such contributions. A charitable contribution of a work of art is subject to reduction if the charity’s use of the work of art is unrelated to the purpose or function that’s the basis for its qualification as a tax-exempt organization.

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Tax CPA 186

MazumaBusinessAccounting

OCTOBER 15, 2021

When the financial crisis hit in 2007, Claudia McKinney had no way of knowing it would mark the start of her new career. Nothing good—in her own family or across the nation—seemed to be coming from the economic slump. “My husband’s business suffered tremendously,” McKinney states. “And it went under.” In addition to their source of income, the McKinney’s lost their house.

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bookkeeping Tax business accounting accounted 98

ThomsonReuters

OCTOBER 14, 2021

SSA Press Release: Social Security Announces 5.9 Percent Benefit Increase for 2022 (Oct. 13, 2021). Available at [link]. The Social Security Administration (SSA) has announced the annual cost-of-living adjustment to the maximum amount of earnings subject to Social Security tax (i.e., the taxable wage base). For 2022, that amount will be $147,000 (up from $142,800 for 2021).

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Tax accountant accounted Account 98

Withum

OCTOBER 11, 2021

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CPA 98

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Technology

xendoo

OCTOBER 15, 2021

When it comes to sheer exposure for your business, it’s hard to beat Amazon. If you’ve been using an Amazon FBA (Fulfilled by Amazon) account, then you might already be familiar with the administrative fees associated with warehousing, packing, shipping, and customer service. But there’s another need you’ll have to consider: accounting and bookkeeping.

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CPA accrual accounting bookkeeping online accounting 90

MazumaBusinessAccounting

OCTOBER 15, 2021

Did you know you can deduct Halloween candy from your taxes? As a business, you can use Halloween candy as a tax write-off if you figure out a way to make it business-related. Here are five ways to deduct those over-priced bags of snack-size chocolates this October: Make a promotion out of it. Attach your business card or a promotional flyer to packets of M&M’s and voila!

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Tax Gaming business accounting Sales 97

ThomsonReuters

OCTOBER 14, 2021

Alkon v. Cigna Health and Life Ins. Co., 2021 WL 3362562 (D. N.J. 2021). An out-of-network health care provider performed surgery on a participant in an ERISA health plan. After receiving payment for less than 1% of the billed charges and unsuccessfully seeking additional reimbursement using the plan’s internal claims process, the provider sued the plan and its claims administrator.

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Legal Tax accountant accounted 98

Withum

OCTOBER 11, 2021

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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.

payroll

AccountingDepartment

OCTOBER 14, 2021

As a business owner, you always want to make sure that all operations run properly and efficiently. You want to ensure that you are in control of all of your company's operations. This way, you simply know what's going on. This approach puts you in the driver's seat. Without a doubt, accounting and bookkeeping are an important part of a business. And while having in-house employees do the accounting and bookkeeping has some benefits, there are a few pitfalls that cannot be ignored.

bookkeeping 89

bookkeeping Account accounted accountant 89

MazumaBusinessAccounting

OCTOBER 10, 2021

In 2017, Senga Nuga invested his last $100 to start his own business, desperate to provide for his wife and one-year-old daughter. Earlier that year, Senga had been let go from his job as a security guard, and the idea to form his own company resulted from a conversation with a friend who was a contractor. “I asked him, ‘How was your day?

Construction 97

Construction Start-ups bookkeeping payroll 97

GrowthForceBlog

OCTOBER 12, 2021

8 min read. Setting sales goals is a normal, necessary part of running a business that you hope to run for a long, long time. Keeping track of your progress toward annual sales goals helps you determine whether your business is on target to meet, exceed, or fall short of those goals.

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Sales 74

Withum

OCTOBER 13, 2021

accounting firms 69

accounting firms Account accounted accountant 69

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.

Finance

AccountingDepartment

OCTOBER 13, 2021

This past week, AccountingDepartment.com Business Development Representative, Shawn Marcum attended the Entrepreneurs' Organization (EO) Xcentric event in New Orleans, LA.

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ThomsonReuters

OCTOBER 14, 2021

QUESTION: Many of our company’s employees have student loans. Could we help them repay those loans on a tax-advantaged basis using a qualified educational assistance program? ANSWER: Educational assistance programs under Code § 127 currently can be used to help employees repay certain student loans, but this benefit is only available for a limited time and there are other restrictions.

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Education income tax Tax accountant 59

LSLCPAs

OCTOBER 14, 2021

Accounts payable automation is an incredible tool to include in your accounting and bookkeeping processes. The A/P (Accounts Payable) software apps are intuitive and easy to use. Implementation is seamless, and the cost is relatively low. Your bank may have a bill pay system that connects easily to your bank account and accounting software, or. The post 10 Benefits to Automating Your A/P and QuickBooks Accounts Payable Through Software Apps appeared first on LSL CPAs.

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accounts payable quickbooks Accounts Payable Automation Account 52

Withum

OCTOBER 14, 2021

Iowa 52

Iowa Tax 52

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.

CPA

SkagitCountyTaxServices

OCTOBER 13, 2021

Any of you Skagit County business owners remember those halcyon days when you could “talk a little business” with somebody while traveling … and then you got to write off the whole getaway on your taxes? Even if that ever really happened, that ain’t today. Now, the good folks at the IRS pull against their leashes to get at businesspeople who try to finagle an on-the-job tax deduction – and the taxman’s very best friend can be your own sloppy records.

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Account accounted accountant tax return 52

ThomsonReuters

OCTOBER 14, 2021

Proposed Rule: Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights, 29 CFR Part 2550, 86 Fed. Reg. 57272 (Oct. 14, 2021); Fact Sheet: Notice of Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (Oct. 13, 2021). Proposed Rule. Fact Sheet. As we went to press with this week’s edition of the EBIA Weekly, the DOL released advance copies of a proposal to amend the investment duties regulation.

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Government Tax accounted Account 52

FraudFiles

OCTOBER 13, 2021

Internal fraud is a huge risk to companies. Experts estimate that on average it costs companies 3% to 5% of revenue each year. When profit margins are thin, internal fraud can literally put some companies out of business. Executives are prone to underestimating the amount of fraud that exists within their companies. They want to believe that their internal controls are better, their employees are more honest, and their ability to stop fraud is more effective than that of executives at other comp

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financial statements audit Government Finance 52

Withum

OCTOBER 12, 2021

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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

Spend Management

xendoo

OCTOBER 12, 2021

Julia Aquino, Xendoo COO, recognizes Breast Cancer Awareness Month. As we begin Breast Cancer Awareness Month, we spoke with Xendoo COO and breast cancer survivor, Julia Aquino. She was diagnosed with breast cancer in 2012. She knew that she needed a deep understanding of the disease in order to make the best decisions for her health, while also running a successful business. .

bookkeeping 52

bookkeeping Sales 52

ThomsonReuters

OCTOBER 14, 2021

HHS Resolution Agreement: Children’s Hosp. & Med. Ctr. (Aug. 17, 2021). Available at [link]. HHS’s Office for Civil Rights (OCR) has announced the 20th settlement under its initiative to enforce the HIPAA provisions giving individuals the right to access their protected health information (PHI). According to OCR’s summary, a parent filed a complaint with the agency alleging that a health care provider (a HIPAA covered entity) had failed to provide her with timely access to her deceased mino

Tax 52

Tax accountant accounted Account 52

Martin Quinn

OCTOBER 11, 2021

Image from Grandtournation. Whether you love or hate Jeremy Clarkson, the Clarkson’s Farm series on Amazon conveys many of the challenges faced by farmers. In the last ten minutes of the final episode of Season 1, the financial challenges are highlighted. As I watched this part of the show, I guessed a figure of £10,000 profit. The actual profit shown was £144 on arable farming in what was a weather affected year ( yields were down 40%).

Account 52

Account accounted accountant Agriculture 52

RitaKeller

OCTOBER 15, 2021

“Be brave enough to start a conversation that matters.” – Margaret Wheatley. First of all, happy October 15th! This Friday I hope you have time to read my blog post. It stresses the importance of helping beginners on how to talk to clients. Have a great weekend!

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