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Last week we talked about all of the different filing frequencies and deadlines you have to manage with your sales tax obligation. If you missed that – check it out! But what happens if you accidentally miss one of those deadlines, or you didn’t realize your deadline had changed? T rying to meet your sales tax obligations across many different states confronts you with a head-spinning assortment of deadlines and filing frequencies.
How Much More Should I Charge Monthly SaaS Contracts? One of the most overlooked benefits of a subscription business model is the positive cash flow impact of having annual contracts Read More. The post Monthly SaaS Contracts vs. Annual appeared first on Burkland.
Falling a little behind in your books is no big deal. After all, you can always catch up tomorrow, right? But how many “tomorrows” in a row does it take before you lose control over your incoming and outgoing expenses? . Before long, your overdue books are hanging over your head like that project you forgot to complete in middle school. If your hands are already sweaty from the mere thought of catching up on your books, you’re not alone.
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.
Sales and use tax generally applies to the sale or use of tangible personal property and certain services. Since software, and especially Software-as-a-Service, may not be delivered in a tangible form, many technology and software companies have considered themselves exempt from sales and use tax. But this is not always the case. In fact, many states impose sales and use tax on services provided by the technology industry.
You may have noticed a new name popping up on emails from our office in the last few months. That’s right, the SMB team has recently grown by another member, and we thought it was finally time to formally introduce her! Caitlin Wyatt joined the team this past July as a bookkeeper. She has been helping with much of the behind-the-scenes administrative tasks at SMB, as well as helping with monthly reconciliations, running payroll, and learning how to build DCAA compliant budgets, to name a few thi
You may have noticed a new name popping up on emails from our office in the last few months. That’s right, the SMB team has recently grown by another member, and we thought it was finally time to formally introduce her! Caitlin Wyatt joined the team this past July as a bookkeeper. She has been helping with much of the behind-the-scenes administrative tasks at SMB, as well as helping with monthly reconciliations, running payroll, and learning how to build DCAA compliant budgets, to name a few thi
Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was: $411,200 in the Northeast, $275,300 in the Midwest, $305,200 in the South, and $508,300 in the West. Be aware of the tax implications if you’re selling your home or you sold one in 2021.
Draft 2021 Forms 1094-B, 1095-B, 1094-C, and 1095-C; Draft 2021 Instructions for Forms 1094-B and 1095-B; Draft 2021 Instructions for Forms 1094-C and 1095-C. Draft Form 1094-B. Draft Form 1095-B. Draft Form 1094-C. Draft Form 1095-C. Draft B Form Instructions. Draft C Form Instructions. The IRS has released draft Affordable Care Act (ACA) information reporting forms and instructions for 2021.
At the end of 2020, the IRS announced important changes to their compliance rules for partnerships. Starting with tax year 2020, partnerships must report their capital accounts using the tax basis method. Capital accounts show the equity in a partnership owned by each partner, including items like initial contributions made by each partner, business profits […].
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.
As posted to the Naomi Brockwell YouTube Channel on 4/30/21 (Run Time: 8 min, 13 sec) In this informative video from her Privacy Series, Naomi Brockwell compares the most popular browser options available to help you make an informed decision as to which will work best for your personal situation. With web browsers being your interface to the Internet, it is not surprising that they become the target of companies or hackers who want to collect information about you.
Many businesses have in-house accounting departments because this was simply the norm for years past. With new levels of technology and the ability for businesses to save money, be more efficient and improve their accounting accuracy, the benefits of outsourced accounting are becoming more recognized. As businesses grow, many are making the switch.
A new podcast launch and a $10,000 giveaway—there’s no question that Mazuma USA has an exciting grand finale planned for their 10-year anniversary. On October 11, 2021, Mazuma will launch Keep Going , a podcast that shares the struggles, insights, and everyday triumphs of business owners. In addition, Mazuma plans to give away $10,000 to help one business owner on their own business journey. “As we geared up for this 10-year milestone, we kept thinking about our journey to this point
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
Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs. Here are the main tax benefits: Contributions made to an HSA are deductible, within limits, Earnings on the funds in the HSA aren’t taxed, Contributions your employer makes aren’t taxed to you, and Distributions from the HSA to cover qualified
I recently had the opportunity to attend my first conference in-person since the start of the pandemic last March. Held concurrently with the United Nations General Assembly, the Concordia Summit was founded ten years ago. I was honored to sit on a panel and attend several others, making some great connections throughout. Over the course of the event a number of thoughts occurred to me that serve as both timely reminders for all of us, and prompts to expand our thinking in the weeks and months a
With direct deposit being the most popular payment method for employees, you may decide to jump on the bandwagon at some point. But if you’ve never paid employees via direct deposit before, you probably have a few questions about the setup process. To ensure your direct deposit is ready to roll, learn how to set […] READ MORE.
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.
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) can result in it taking longer than expected to fully depreciate a vehicle. Cents-per-mile vs. actual expenses First, note that separate depreciation calculations for a passenger auto only come into play if you choose to use the actual expense
Many larger and older businesses typically already have an ERP system in place. However, sometimes these systems were put in place before the internet and as you may have guessed, are severely outdated. Many of these older systems have years and years of updates that must be done manually by the user, so there is no guarantee that these systems are up-to-date.
8 min read. Whether you're operating as CEO of your own company or have been hired as CEO of an established business, congratulations on getting the top job- a major accomplishment in its own right. However, just because you've made it to the top position doesn't mean you've succeeded yet.
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?
At first glance, calculating restitution for fraud damages may seem relatively simple. If someone steals $10,000 from a company, that person should repay that amount, perhaps with interest, right? Not quite. Financial experts also consider the profits the business lost because of the fraud — and weigh different methods of computing damages. The appropriate approach Experts typically use either the benefit-of-the-bargain or out-of-pocket approach to calculate damages.
There is a LOT of smoke emanating from Congress right now. As usual, with Congress, there are always rumors and mutterings — what matters is what is actually signed into law. And we’ll keep you up to date on what you might need to know. But speaking of Congressional acts that have been signed into law … Wouldn’t it be great to get money for just having kept your Skagit County employees afloat during the last rough-as-nails year or so?
QUESTION: We’ve heard that our group health plan’s provider directories will be subject to specific transparency requirements. What are they, and when do they apply? ANSWER: For plan years beginning in 2022, a group health plan is required to establish a database on its public website that contains a list with directory information for each health care provider and facility with which it has a direct or indirect contractual relationship for furnishing items and services.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
California Assembly Bill No. 50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers. Overview Beginning 11/1/21, and ending 11/30/21, the California Department of Tax and Fee Administration (CDTFA) will be accepting applications through their online reservation system for qualified small business employers to reserve $1,000 per net increase in qualified employees, not to exceed $150,000.
The government has extended the COVID-19 Business Debt Hibernation (BDH) scheme until 31 October 2021 in response to the pressures placed on businesses during the pandemic. Businesses who qualify to use the BDH scheme can buy up to six months grace in order to pay their creditors and have time to address their cash flow difficulties. At a high level, the scheme: allows for businesses to set up an arrangement to pay their existing debts; gives the business a month to set up the arrangement and is
As the effects of the pandemic continue to reverberate through the economy, resource-constrained corporate tax departments are unceasingly adapting to change — including new regulatory requirements, new ways of working, extended tax deadlines, Covid tax relief provisions and, now, the demands of a busy tax-filing season. A new episode of Thomson Reuters Tax & Tech Talks podcast shares tips and best practices for streamlining operations and navigating this unprecedented tax season.
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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