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.
Advertiser: Paycor
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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
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
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: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
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.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
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: David Warren and Kevin O'Neill Stoll
Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng
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.
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
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.
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.
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RogerRossmeisl
APRIL 21, 2022
(This is Blog Post #1189). The post Retaining Talent from “The Great Resignation” appeared first on Roger Rossmeisl, CPA.
SkagitCountyTaxServices
APRIL 20, 2022
Every Skagit County business owner in today’s inflationary environment is looking for ways to economize and improve: overhead expenses, workload, staffing needs, office space, supply chains, etc. It all feels stretched. We’re *all* feeling it, even here in Skagit County. So it might creep into your lizard brain that the basic function of “paying your employees” might seem like an area that doesn’t need your attention – a great place to slash costs and simplify.
Basis 365
APRIL 20, 2022
eCommerce Accounting 101 One of the hardest parts of starting up an online business is determining how to maintain your accounting. However, once your business starts growing things will again change. What seemed at first pretty simple - just profits and expenses - now becomes extremely complicated by adding supplier costs, taxes, refunds, and logistical solutions.
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 ).
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
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