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There are certain expenses that a business incurs that the federal government does not reimburse. While these costs may be legitimate business expenses, the federal government may disallow a cost which means it cannot be reimbursed using the incurred costs rates calculated to reimburse costs for cost contracts. These costs may be considered unreasonable, or not is support of the government mission.
In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. But they are deductible if they’re considered trade or business expenses.
“Manufacturing” for sales tax purposes is often d efined as a physical application of materials and labor to change the characteristics of tangible personal property. Makes sense, but does that mean your business is exempt? Not so easy. E very state has nuances on how sales tax applies to the manufa cturing process and the various equipment and materials that are used and consumed.
What Is Stretch IRA? Last December, the imaginatively named Setting Every Community Up for Retirement Enhancement (SECURE) Act became law. The SECURE Act was intended mainly to expand opportunities for individuals to increase their retirement savings and to simplify the administration of retirement plans. Fine. Good. But the act also included a big unfavorable change that kneecapped the so-called stretch IRA estate planning strategy that was employed by well-off IRA owners.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Burkland's Head of Marketing Kate Adams interviewed Amanda Robson, a Principal at Cowboy Ventures, about preparing your Series A pitch. Q: Is there anything you recommend startups to do before Read More. The post Develop a Winning Series A Pitch – Advice from a VC appeared first on Burkland.
Forensic accountants have many tools to help them find evidence of hidden assets or fraud. But one of the most effective, particularly in divorce matters or legal disputes with former business partners, is using lifestyle analysis to find hidden income and assets. This method involves developing a financial profile of a subject and then examining mismatches between the person’s known resources and lifestyle.
Consumers across all age demographics have radically realigned their lives over the last eight months. To say that we aren’t quite the same people we were a year ago might seem overly dramatic. Still, the 2020 edition of the PYMNTS | Visa How We Will Pay consumer survey of a national sample of roughly 10,000 U.S. consumers confirmes that consumers, in fact, have changed.
Consumers across all age demographics have radically realigned their lives over the last eight months. To say that we aren’t quite the same people we were a year ago might seem overly dramatic. Still, the 2020 edition of the PYMNTS | Visa How We Will Pay consumer survey of a national sample of roughly 10,000 U.S. consumers confirmes that consumers, in fact, have changed.
S Corporation Owners – How Much Salary is the Right Amount? You likely formed an S corporation to save on self-employment taxes. If so, is your S corporation salary. nonexistent? too low? too high? just right? Getting the S corporation salary right is important. First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty.
When looking at all that goes in to maintaining your business’s compliance in sales tax, the filing of your returns is often seen as one of the easiest tasks. Yet, that doesn’t mean there aren’t things that can trip you up in the process. Be sure to follow these four steps to ensure you don’t run into issues. 1. Pick the right form. Compliance starts with the right form.
Management consulting company McKinsey reports that synthetic identity theft is growing fast. In fact, it’s the fastest growing financial crime in the United States. And a LexisNexis Risk Solutions study has found that 20% of ID theft losses by banks can be attributed to synthetic versions of the scheme. If you’re unfamiliar with synthetic ID theft, you should know that it’s not — as its name might imply — a weaker, less “real” form of fraud.
PayPal has announced that it is jumping into the wild world of cryptocurrency , making it possible for wallet holders to buy, sell and hold cryptocurrencies like bitcoin, ethereum, bitcoin cash and litecoin in their PayPal accounts. And starting in 2021, they will be able to spend their crypto caches with any of the 26 million merchants currently accepting PayPal.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
There are certain expenses that a business incurs that the federal government does not reimburse. While these costs may be legitimate business expenses, the federal government may disallow a cost which means it cannot be reimbursed using the incurred costs rates calculated to reimburse costs for cost contracts. These costs may be considered unreasonable, or not is support of the government mission.
As posted to the Munro Live YouTube Channel on 10/9/2020 (Run Time 22 min, 38 sec) This video is an “abridged” version of a presentation given by legendary automotive engineer Sandy Munro in September, 2020. On Testa’s growing lead in technology, Sandy comments, “It is not the big that eat the small, but rather the fast that eat the slow” (This is Blog Post #905) Sandy Munro is an automotive engineer who specializes in machine tools and manufacturing.
Shopping is increasingly done remotely, but when it comes to luxury goods, appealing to high-end consumers requires personalized digital connections and a memorable experience, Zornitza Stefanova , founder and CEO of global luxury-shopping platform BSPK told PYMNTS. Whether that comes in the form of video, live chats or being on a first-name basis with a personal retail adviser, it’s all about personalization and the relationship. .
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
With just weeks left until the 2020 election, a slew of tax legislation nearing expiration, and economic recovery from COVID-19 taking center stage, many are wondering how the presidential election outcome will affect the country’s tax landscape.
As an employer, you’re in charge of paying your employees … and handling those pesky employment taxes. One of the taxes you need to calculate and withhold is a payroll tax known as FICA. What is FICA tax? What is FICA tax? FICA is a mandatory payroll tax equally split between employees and employers. Unlike […] READ MORE.
As posted to the Tony Seba YouTube Channel on 10/30/2019 (Run Time 31 min, 17 sec) Based on Tony Seba’s #1 Amazon bestselling book “Clean Disruption of Energy and Transportation” and “Rethinking Transportation 2020-2030”, this presentation lays out the key technologies (batteries, electric vehicles, autonomous vehicles), business model innovations (ride-hailing, transportation-as-a-service), how the technology disruption will affect existing companies and sectors (m
American Express is working with Coupa on a new partnership to use virtual cards for Coupa's B2B solution, a press release says. Coupa Pay, the Coupa B2B solution, will be available for customers of AmEx's virtual cards, in a move meant to streamline the old payment processes which the release calls "outdated, complex, and inefficient.". The move toward virtual cards comes with a rising demand for work-from-home solutions, more popular now during the pandemic.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Saturday, October 24th is the 75th anniversary of the United Nations. This is not about the United Nations. What I want to do here is share my personal experiences with the United Nations’ 10th Anniversary stamp issue in 1955.
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then you should be aware of the complex rules that apply to determine the tax rules for deducting software, whether you’re buying, leasing or developing. Purchased software Some software costs are deemed to be costs of “purchased” software, meaning software that’s either: Non-customized software available to the general public under a non
Plaid is denying that it has used TD Bank 's logo to dupe customers into sending information it could monetize, a report from The Globe and Mail says. Plaid said it’s also disappointed that TD Bank has filed a lawsuit against it in the case, saying Plaid's role in transactions is “made clear” to customers. Plaid's software includes helping popular apps like Venmo , Coinbase , Square and Stripe access bank and credit card info, and the company says they “have been working with TD for quite some t
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Trying to find your footing in the virtual world? One of the latest challenges to befuddle business owners is comparing and choosing between virtual service partners. With not much more to go on that individual experience and the “snazzy” level of the website, it can be hard to feel confident that you’re putting your trust in the right place. With over 16 years’ experience providing services virtually, we’ve come to learn a thing or two about how to hire vendors virtually.
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act created multiple programs to assist healthcare providers in weathering the COVID-19 storm. And while the financial support has been welcomed by the industry, it introduced many new deadlines, rules, and reporting requirements. Here is a summary of what you need to know.
Let's talk fear. Fear of costs, fear of information, fear of change. Businesses are often held back by fear in one or more of these areas. Sometimes it isn't the fear itself but rather the unknown on the other side that keeps you from moving forward. So today we're going to address some common fears we encounter on a regular basis.
Cool evenings. Colorful leaves. Pumpkin-flavored everything. These are just a few of the reasons I love fall and I bet you do, too. This time of year I often hear that CPA’s like yourself are starting to ask themselves some tough questions. As we enter into the final stretch of 2020: You may be looking […]. The post Fall Changes You Need To Make In Your Practice appeared first on certifiedtaxcoach.
Brazilian bank accounts are being hit by a new malware, called Vizom by IBM, that makes use of familiar overlay attack tactics to hijack devices in real time, according to a report by ZDNet. Disguising itself as a commonly used video conferencing tool, Vizom spreads through phishing campaigns. Once it hits a Windows PC, the malware hijacks the AppData directory to force the loading of malicious DLLs.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
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