TaxConnex
APRIL 19, 2022
Sales tax has a universe of changing conditions. Now we can add more: cryptocurrency (such as bitcoin) and what seems to be its cousin, non-fungible tokens (NFTs). Already the IRS is turning a bright light on these assets as more transactions take place in a virtual world. What are the sales tax ramifications? Few know for sure – yet. Big, and getting bigger.
BurklandAssociates
APRIL 18, 2022
The last two years have seen explosive growth in the number and size of crypto startups. The startup ecosystem experiences the normal ebbs and flows of mood and macroeconomics over Read More. The post Six Key Things Crypto Startups Should Know About Finance appeared first on Burkland.
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FraudFiles
APRIL 18, 2022
In this video, Tracy Coenen briefly defines and audit and how many people are being audited by the IRS. (Hint: A very low number of people are being audited, and people with higher incomes are much more likely to be audited. Watch the video to find out the numbers.).
RogerRossmeisl
APRIL 21, 2022
In today’s economy, many small businesses are strapped for cash. They may find it beneficial to barter or trade for goods and services instead of paying cash for them. Bartering is the oldest form of trade and the internet has made it easier to engage with other businesses. But if your business gets involved in bartering, be aware that the fair market value of goods that you receive in bartering is taxable income.
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.
xendoo
APRIL 20, 2022
Small business expense tracking can be a tedious task. But, it’s one that all companies–from “mom and pop” shops to international enterprises–must do. Fortunately, business expense tracking apps make the job easier. If you have a business with many employees, sales, and tax considerations, an app is ideal. For some small businesses, however, paying a subscription fee for an expense tracker may not be feasible in the beginning.
Withum
APRIL 19, 2022
I will be presenting an investment program for the general public on Thursday, April 21, 2022, on Zoom and it is free. A lot has happened since the COVID lockdown in March 2020, when the stock market dropped over 30% in one month only to recover to all-time highs and then undergo sharp ups and downs, and now it has to deal with inflation and a rapidly rising 10-year Treasury interest rate.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
APRIL 21, 2022
Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain types of property, such as IRAs or other retirement plans. Fortunately, there may be ways to minimize or even eliminate the IRD tax bite. Basic rules For the most part, property you inherit isn’t included in your income for tax purposes.
Going Concern
APRIL 21, 2022
I buried the link I’m about to share with you all in Footnotes last Friday ; however, since its author intended for it to spur a conversation about the profession’s pipeline problem, I thought it best to highlight it in its own post should any of you feel like discussing it. “In my view, the future of the CPA profession is at risk,” writes Yigal Rechtman, CPA, CFE, CITP, CISM in a letter to the editor published by The CPA Journal.
Withum
APRIL 19, 2022
Understanding the Business Value of Microsoft’s Low-Code/No-Code Tools. As organizations get past the initial stage of moving to Microsoft 365 (M365) – typically by migrating their email and files shares to the cloud – they start looking for ways to get even more value from their investment. The Power Platform, with its suite of low-code/no-code tools, is sparking a lot of interest lately; we have clients who have been using M365 for email and file management for years who are just now starting
ThomsonReuters
APRIL 21, 2022
Considerations for Implementing the Health Information Technology for Economic and Clinical Health (HITECH) Act, as Amended; Request for Information, 45 CFR Part 164, 87 Fed. Reg. 19833 (Apr. 6, 2022). Available at [link]. HHS’s Office for Civil Rights (OCR) has issued a request for information (RFI) seeking public comments on two provisions of the Health Information Technology for Economic and Clinical Health Act (HITECH Act): the effect of recognized security practices, and sharing of penalty
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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.
RogerRossmeisl
APRIL 21, 2022
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any
Going Concern
APRIL 19, 2022
Following one spot behind RSM US in the 2022 Fortune BCTWF is KPMG, the second Big 4 firm in the ranking behind Deloitte at No. 24. It’s not too often that KPMG finishes ahead of PwC in anything, so the House of Klynveld should celebrate this accomplishment while it can. For the most part, people seem to enjoy working at KPMG. According to the website Great Place to Work , which partners with Fortune every year for the BCTWF, 86% of KPMGers say the firm is a great place to work, which is second
Withum
APRIL 21, 2022
Withum is excited to share that Matt Ferrante , Partner and Market Leader of Cyber and Information Services , was honored by NJBIZ as a Digi-Tech Innovator in a virtual ceremony. At Withum, Matt leads an expansive, progressive cyber team that works tirelessly to ensure clients are cyber secure, safe and that they optimize cyber solutions for their business operations.
ThomsonReuters
APRIL 19, 2022
Your firm has been going nonstop, and your team has just made it through another busy tax season. It’s time to start thinking about what you’ll do to thank them for a job well done. No matter how large or small your firm may be, these simple gestures are excellent ways to reward your staff both during and after the seasonal tax rush. 1. Pay for meals since your team has been working ‘round the clock.
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.
RogerRossmeisl
APRIL 21, 2022
Executives often receive lucrative compensation packages. But for some, it isn’t enough and they engage in illegal activities to line their own pockets. The Association of Certified Fraud Examiners (ACFE) has found that owners and executives commit 20% of occupational fraud. However, they’re responsible for the largest median loss of $600,000. (In comparison, rank-and-file employees who steal are responsible for a median loss of just $60,000.
Going Concern
APRIL 18, 2022
Except for 2012 when the Purple Rose of Chicago shockingly was named the best accounting firm to work for , a Big 4 firm has been ranked No. 1 in all the other Vault Accounting 50s. And even though Vault’s latest ranking for 2023 , released earlier today, includes only 25 firms instead of 50, a Big 4 firm is still the leader. Which firm has led the most through the years?
Ryan Lazanis
APRIL 20, 2022
Finding the right accounting niches is a tried, tested, and true way to quickly grow your firm. In this article, you’ll hear about: What a niche is. The 5 benefits to niching. The 1 big disadvantage when you niche. How you can niche. 10 great examples of accounting niches. Read on to hear more! What is an Accounting Niche? A niche is another word for “market” or “industry.” .
ThomsonReuters
APRIL 21, 2022
QUESTION: I understand that obtaining a hardship distribution from a 401(k) plan requires a certain type of hardship and proof that a 401k plan distribution is necessary to alleviate the hardship. What is the current standard for proving necessity? ANSWER: In the past (generally, distributions prior to 2020), plans could use either of two standards for determining whether a hardship distribution was necessary: a safe harbor standard or a “non-safe harbor” standard.
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.
RogerRossmeisl
APRIL 21, 2022
Despite the robust job market, there are still some people losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last thing on your mind. However, there are tax implications due to your changed personal and professional circumstances. Depending on your situation, the tax aspects can be complex and require you to make decisions that may affect your tax picture this year and for years to come.
Going Concern
APRIL 19, 2022
Another year, another first-place finish for PwC in Vault’s ranking of the most prestigious public accounting firms. At this point, you can just pencil in PwC as being the most prestigious firm now until the end of time. If a firm was to eventually unseat PwC in prestige, it would be as big of an upset as the US Olympic hockey team beating the Soviet Union in the 1980 Winter Olympics.
Anders CPA
APRIL 22, 2022
The biggest weekend for purchasing appliances in Missouri is here! If you’re looking to buy a new appliance, take advantage of savings between April 19 and April 25. This is the week that Missouri is holding their Show-Me Green Sales Tax Holiday. During this time, if you buy a certified Energy Star appliance in Missouri, you will not have to pay any state sales tax.
ThomsonReuters
APRIL 21, 2022
FAQs About Affordable Care Act Implementation Part 53 (Apr. 19, 2022). Available at [link]. The DOL, HHS, and IRS have issued FAQ guidance (Part 53) adopting an enforcement safe harbor for health plans and insurers reporting certain types of in-network rates under the transparency in coverage (TiC) regulations. As background, TiC final regulations issued in November 2020 include requirements for health plans and insurers to publicly disclose price information in machine-readable files for plan
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.
RogerRossmeisl
APRIL 21, 2022
(This is Blog Post #1189). The post Retaining Talent from “The Great Resignation” appeared first on Roger Rossmeisl, CPA.
Going Concern
APRIL 18, 2022
Vault today released its newest ranking of the best public accounting firms to work for , and it’s a slimmed-down version for 2023: the number of firms ranked went from 50 (as has been the case for many years) to 25. But one thing remains constant: PwC is No. 1. This is the 10th straight year PwC has held the top spot in the 13-year history of Vault’s ranking, and the House of Ryan’s total score of 8.807 out of 10 beat 2022’s score of 8.742, which at the time was the highest score ever earned by
Accounting Web
APRIL 22, 2022
Practice How to Boost Your Firm's Growth with CAS.
ThomsonReuters
APRIL 19, 2022
Some people are coming back to the office for the first time in two years. There has been pushback among workers about returning full time, with half of them looking to quit if required to do so. Organizations have acknowledged this desire for remote work, and some are adopting a hybrid work model. Many employees, though, are excited to see their co-workers face to face.
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
RogerRossmeisl
APRIL 21, 2022
If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example, if you’re self-employed and set up a SEP-IRA, you can contribute up to 20% of your self-employment earnings, with a maximum contribution of $61,000 for 2022.
CalCPA
APRIL 19, 2022
Do you know accounting educators who are innovative, have significant involvement in the profession or have authored case studies and programs? If so, The post CalCPA BUZZ: Accounting Educator Award Nominations Due May 13 appeared first on Hot Topics.
Accounting Web
APRIL 18, 2022
Practice 9 Valuable Investing Lessons Clients Should Know.
ThomsonReuters
APRIL 21, 2022
Federal Independent Dispute Resolution (IDR) Process Guidance for Disputing Parties (Apr. 2022); Federal Independent Dispute Resolution (IDR) Process Guidance for Certified IDR Entities (Apr. 2022). Disputing Parties Process Guide. IDRE Process Guide. The DOL, IRS, and HHS have jointly issued revised process guides for independent dispute resolution (IDR) under the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA) (see our Checkpoint article ).
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