BurklandAssociates
DECEMBER 27, 2020
Burkland has a robust and growing FinTech practice led by Steve Lord out of our New York office. Burkland’s FinTech CFOs, controllers, accountants, and tax advisors are well-versed in the Read More. The post Recommended Resources for FinTech Startups appeared first on Burkland.
RogerRossmeisl
DECEMBER 28, 2020
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make qualifying for a medical expense tax deduction difficult for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes. Itemizers must meet a threshold For 2020, the medical expense deduction can only be claimed to the extent your unreimbursed costs exceed 7.5% of your adjusted
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RitaKeller
DECEMBER 30, 2020
“The woods are lovely, dark and deep. But I have promises to keep and miles to go before I sleep.” – Robert Frost. The following is a Flashback Post from 2017. I think it applies to every year-end. How many times have you said those two words, “next year”? Maybe to your kids, “You’ll be old enough to do that next year.”. Maybe to your spouse, “Honey, we’ll take that special vacation trip next year.”.
TaxConnex
DECEMBER 31, 2020
Your employees (like all of us) have more than enough headaches on all fronts headed into the new year. Back in April employees surveyed said that the pandemic is the most stressful time of their entire career. Now more than ever you owe it to your people – and to your business – to ease their problems when you can. If you handle sales tax compliance in house, you’ve got your employees handling an unbelievably complex business function – and with 65% of businesses planning to grow across state l
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.
PYMNTS
JANUARY 1, 2021
The consumers who shopped for anything from groceries to sporting goods to cars in December of 2019 are completely different from the ones who shop today. Not only have they been stung by an unprecedented pandemic and consequential lockdown, they've been made aware of – and have started using – different ways to conduct their shopping journeys, pay for their goods and even take possession of them.
RogerRossmeisl
DECEMBER 28, 2020
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important to avoid wash sales if selling stock by year-end. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back within the 30-day period before or after the sale date, the loss can’t be claimed for tax purposes.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
DECEMBER 29, 2020
An exemption is an exception that eliminates the need to pay sales tax. The presumption is that all sales of tangible personal property are taxable unless specifically enumerated. The purchaser has the responsibility for determining whether a sale is exempt from tax. If the purchaser does not submit a valid exemption certificate to the business, the business must assess and collect the sales tax from the purchaser.
PYMNTS
DECEMBER 28, 2020
Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years. According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a di
RogerRossmeisl
DECEMBER 28, 2020
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you can cash in on depreciation tax savers such as §179 for business property. The election provides a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time.
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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.
Patriot Software
DECEMBER 28, 2020
Attention Oregon employers! Specifically, attention employers in Eugene, Oregon. A new type of payroll tax is coming your way in 2021. Learn all about the Eugene Community Safety Payroll tax and whether or not you need to withhold and remit it to the city. What is the Eugene Community Safety Payroll Tax? The Eugene Community […] READ MORE.
PYMNTS
JANUARY 1, 2021
If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers. Starting with some of the most recent changes — and a sign of what’s to come — earlier in the month, the European Commission offered up its initial draft o
RogerRossmeisl
DECEMBER 28, 2020
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, a decision to maximize your 401(k) Plan can be a smart way to build a substantial sum of money. If you’re not already contributing the maximum allowed, consider increasing your contribution rate. Because of tax-deferred compounding (tax-free in the case of Roth accounts), boosting contributions can have a major impact on the size of your nest e
Withum
DECEMBER 27, 2020
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.
SkagitCountyTaxServices
DECEMBER 30, 2020
It’s going to take us many weeks to digest everything in this massive omnibus of a relief bill that the President signed on Sunday night. And with year-end barrelling at us (2021 is on FRIDAY), it’s unlikely that we will be able to make substantive action on your behalf THIS WEEK. That doesn’t mean that we aren’t already diving into the thing — we are — but just that we are prioritizing year-end matters for our clients this week.
PYMNTS
DECEMBER 27, 2020
The highly competitive streaming-audio industry could be starting the New Year with some consolidation, a new report suggests. Jack Dorsey — the billionaire CEO of Square and Twitter — is said to be interested in buying TIDAL , the audio service owned by billionaire music legend Jay-Z. Unnamed sources told Bloomberg that the outspoken Dorsey has been seen with Jay-Z and his singer-wife Beyonce recently, and is reportedly interested in adding a music feature to payment platform Square’s growin
RogerRossmeisl
DECEMBER 31, 2020
The recent stimulus legislation, the Consolidated Appropriations Act of 2021, (CAA 2021) included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. Here are the details. In general, the ordinary and necessary food and beverage expenses of operating your business are deductible.
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.
LyfeAccounting
DECEMBER 31, 2020
?. So you have a business? Paying yourself and employees? Or have plans on doing so? Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes.
PYMNTS
DECEMBER 29, 2020
Amazon is reporting a record-breaking holiday shopping season that saw more than 1.5 billion toys, electronics and household goods delivered amid the global COVID-19 pandemic. “Amazonians around the world have truly shown what it means to be customer-centric and support our communities this year,” Jeff Wilke , CEO of worldwide consumer at Amazon, said in a press release on Tuesday (Dec. 29). .
RogerRossmeisl
DECEMBER 28, 2020
Americans generally feel generous during the holidays and usually are eager to donate to worthy charitable causes. At the same time, they’re so busy and rushed with holiday activities they don’t necessarily vet charities that ask for support. Unfortunately, the holidays are the season for charity fraud. Fraud perpetrators masquerading as non-profits usually find easy pickings.
Withum
DECEMBER 28, 2020
This is a suggested list of how to declutter in the coming new year. Some things can be sold, given away to friends or relatives, donated to a charity or thrown in the trash (while being careful to shred papers with personal and confidential information). If you are in doubt about something having a value, check it out on eBay.
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.
LyfeAccounting
DECEMBER 30, 2020
?. Are you tired of paying taxes? Yeah me, too. Taxes stink. But recently, I heard that some people pay very little in taxes. In fact, the president’s tax returns show he paid just $750 in federal income taxes in 2016 and 2017. And nearly nothing for many years before that, according to reports from the New York Times. Man, that sounds too good to be true.
PYMNTS
DECEMBER 30, 2020
A lawsuit filed by the Securities and Exchange Commission (SEC) against digital payments firm Ripple is heading to virtual court on Feb. 22, according to legal documents filed in the U.S. District Court of the Southern District of New York. Legal counsel for those named in the suit — Ripple Labs, CEO Bradley Garlinghouse and Executive Chairman and Co-founder Christian Larsen — were called to appear in an online pretrial conference with Judge Analisa Torres. .
RogerRossmeisl
DECEMBER 28, 2020
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on deductions Cars are subject to more restrictive tax depreciation rules than those that apply to other depreciable assets. Under so-called “luxury auto” rules, depreciation deductions are artificially “capped.” So is the alternative §179 deduction that you can claim if you elect to expense (write-off in the year placed in service) all or part of the cost of a busine
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
FraudFiles
DECEMBER 30, 2020
Fraud is big business. Companies are at the greatest risk of fraud from their employees, since the employees have easy access to information and assets. We don’t know for sure how much fraud happens, but experts estimate that companies lose 5% of their revenues to employee fraud. At a company with annual sales of $100 million, that means that $5 million is walking out the door each year.
PYMNTS
DECEMBER 28, 2020
As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. . “Already, fraudsters have offered, for a fee, to provide potential victims with the vaccine sooner than permitted under the applicable vaccine distribution plan,” FinCEN said in a statement on Monday (Dec. 28).
RitaKeller
DECEMBER 28, 2020
“It takes courage to grow up and become who you really are.” – E.E. Cummings. The military takes a young, enthusiastic person and turns them into highly-skilled soldiers, sailors, marines, etc. These very young people have huge, life or death responsibilities. (Haven’t you seen the documentaries about the flight deck crew on an aircraft carrier?).
Withum
DECEMBER 30, 2020
Starting the year right means getting things organized, in order and getting started on the right foot. Here is a checklist of some things to do.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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