TaxConnex

MAY 19, 2022

Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them. Local sales are becoming an increasing burden for online sellers as cities, counties and towns nationwide constantly tinker with their own sales taxes and other jurisdictions create new economic nexus rules. Accurately collecting, reporting and remitting is a major, ever-changing challenge for online sellers.

Alaska 224

Alaska Colorado Louisiana West Virginia 224

RogerRossmeisl

MAY 16, 2022

Valuation discounts for lack of control and marketability are major points of contention when companies or controlling shareholders are required to buy out shareholders who own minority interests. What’s appropriate depends on the facts of the case — and there’s an important distinction between statutory and contractual buyouts. Statutory buyouts In many jurisdictions, minority shareholders who are oppressed by controlling shareholders or who dissent to major business decisions are entitled to r

CPA 192

CPA 192

Accounting Today

MAY 18, 2022

Tax 126

Tax tax preparation 126

BurklandAssociates

MAY 17, 2022

SaaS startups need strong metrics for Series A funding that demonstrate traction, growth, profitability, and efficiency. The post Critical Series A Finance Metrics for SaaS Startups appeared first on Burkland.

Finance 195

Finance 195

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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.

Account

TaxConnex

MAY 17, 2022

“Sourcing” or as we often call it, situsing, is key when you determine sales tax obligations: It refers to the location where a sale is taxed. According to the Sales Tax Institute there may be changes on the horizon– and though the aim appears to lean towards improving life for remote sellers, the changes only seem to make meeting sales tax obligations harder.

New Mexico 210

New Mexico Texas Illinois Colorado 210

RogerRossmeisl

MAY 16, 2022

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS.

audit 210

audit Tax tax return CPA 210

VetCPA

MAY 18, 2022

Is Your QuickBooks company file ready for 2022? Three things you can do to put things in order. Don’t forget about QuickBooks while you’re catching up on 2021 and looking ahead to 2022. You probably don’t want to put one more item on your to-do list, but any steps you take now to ready the software for the new year will pay off. Once you start entering transactions and placing orders and welcoming new customers, it will help tremendously to have a clean slate.

Start-ups 130

Start-ups quickbooks 130

Going Concern

MAY 20, 2022

[UPDATE 5] Not sure if this is pertinent as to why the FBI and IRS raided Alliantgroup’s offices in Houston this morning, but one Alliantgroup employee who contacted us earlier today said the firm’s billing practices are unfair to its clients: For most clients there is a 35% fee cap for our services. Employees are incentivized to use this entire amount up.

Texas 145

Texas public accounting Tax accountant 145

RogerRossmeisl

MAY 16, 2022

Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an annual deductible contribution to a traditional IRA if: You (and your spouse) aren’t active participants in employer-sponsored retirement plans, or You (or your spouse) are active participants in an employer plan, and your modified adjusted

CPA 189

CPA Tax 189

Lockstep

MAY 19, 2022

Patent-pending Email and Accounting Software Integration Revolutionizes and Streamlines Payments and Month-end Closing Workflows. Seattle, WA – May 19, 2022 — Lockstep® , the leader in connected accounting, today announced the launch of Lockstep Inbox , the first-ever shared inbox for accounting teams. An industry first, Lockstep Inbox is a free solution that streamlines accounting workflows between companies such as onboarding, invoicing, disputes, payments, and reconciliation.

accountant 138

accountant Account accounted accounting software 138

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.

Account

Withum

MAY 16, 2022

The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. The decrease in value of commercial property has forced many owners to restructure their debt. However, the resulting forgiveness of a portion of the debt does not automatically result in federal taxable income.

Real Estate 131

Real Estate Tax income tax tax return 131

ThomsonReuters

MAY 19, 2022

Unfortunately, businesses often make assumptions about what their clients want. Sometimes they miss the mark, which can lead to misunderstandings, unmet expectations, and potentially dissatisfied clients who eventually take their business elsewhere. “When a firm, or any other business, has been doing things the same way for 10, 20, or 30 years — and it has worked for 10, 20, or 30 years — there are blind spots,” said Greg Pope, Vice President of Marketing at SurePrep.

Tax 105

Tax tax return Technology accounting and finance 105

RogerRossmeisl

MAY 16, 2022

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021). So, you can take a customer out for a business meal or order take-out for your team and temporarily write off the entire cost — including the tip, sales tax and any delivery charges.

Entertainment 189

Entertainment CPA Tax Government 189

Lockstep

MAY 19, 2022

Lockstep is pleased to announce our latest offering, Lockstep® Inbox. Revolutionizing accounting, Lockstep Inbox creates an shared inbox where accounting teams professionals can work better with customers and vendors. Today, more than 90% of accounting professionals are using manual personal, email inboxes and spreadsheets to manage their “digital” accounting workflows.

accounting and finance 114

accounting and finance accounting system accounts payable Start-ups 114

Advertisement

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.

financial statements

Withum

MAY 16, 2022

Cybercriminals are increasingly targeting law firms; extortion is quickly realized, given the nature of highly confidential client data. The digital footprint of law firms is constantly expanding, leading to more entrances to a firm’s network infrastructure, which is a direct gateway to data. This expansion, combined with insider risks (a firm’s own staff), makes having risk-control protocols of paramount importance.

Healthcare 128

Healthcare Government Technology tax services 128

ThomsonReuters

MAY 17, 2022

Do you have clients working full- or part-time in the gig economy? Self-employed workers who drive for Uber or deliver food for DoorDash, who sell crafts and merchandise on Etsy, or who hire out their services on TaskRabbit? These budding entrepreneurs often get paid through mobile payment services like Venmo, Paypal or CashApp or get paid directly through the Uber or Doordash app.

Tax 105

Tax tax return income tax Start-ups 105

RogerRossmeisl

MAY 16, 2022

When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to preventing fraud, especially in the case of wire and automated clearing house transactions. In most cases, if a caller claims to work for the fraud department of your or your business’s bank, the call is likely legitimate.

CPA 172

CPA accountant Account accounted 172

Canopy Accounting

MAY 19, 2022

Times have changed these past few years, haven’t they? There have been so many differences around the world, not only in our personal lives, but in our professional lives as well. The changing times are impacting everyone, including clients—your clients are reevaluating their needs when it comes to their accounting professionals. Gone are the days of clients sticking with a CPA solely because they’ve been with them for years.

CPA 105

CPA accountant Account accounted 105

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

Sales

Withum

MAY 19, 2022

If you received a notice regarding deferred social security taxes that you partially paid back in December 2021, then you are not alone. The IRS has recently issued CP256V Notices to taxpayers that assert penalties and interest for failure to make proper federal tax repayments relating to Form 941. This article will discuss why the IRS is issuing these notices and how you can respond to get the penalties abated.

Tax 124

Tax tax return payroll tax tax services 124

Going Concern

MAY 19, 2022

After getting rid of the boil on its butt (that boil being ex-chairman William Duhnke ) last June, the PCAOB seems to be feeling pretty good now under the leadership of Erica Williams. And that’s bad news for audit firms. The PCAOB has created new ways of disciplining audit firms and auditors who bend the rules, as the new chair and board members put more of a focus on enforcement and increasing their scrutiny of the guardians of the capital markets.

audit 105

audit cpa firm CPA auditor 105

RogerRossmeisl

MAY 20, 2022

If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020. But despite their popularity, the tax rules involved in selling mutual fund shares can be complex. What are the basic tax rules?

Tax 171

Tax income tax CPA 171

Reckon

MAY 19, 2022

“My sole trader clients often have questions about business growth and taking on new staff. I often draw from my own experience as a business owner when advising them. After all, I’ve navigated these very same questions in my own business life.”. While fast-tracking business growth is the aim of the game for many entrepreneurs, expansion often requires bringing on new staff.

bookkeeping services 98

bookkeeping services bookkeeping payroll Construction 98

Advertisement

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

Withum

MAY 18, 2022

I’ve spoken to quite a few people in the last month that told me they are getting “killed” in the stock market. I listen but do not offer much commiseration. The economy and stock market run in cycles. It is not static and has never been static. It is constantly in flux. Over the last ten years, even including the tanking in March 2020, we’ve had a huge run-up in the stock market.

Tax 105

Tax accountant Account accounted 105

Going Concern

MAY 20, 2022

For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast. While business writers push endless streams of science fiction about robots taking jobs, technology has been quietly replacing intern busywork at public accounting firms for years.

Pennsylvania 98

Pennsylvania Technology cpas CPA 98

ThomsonReuters

MAY 19, 2022

Texas Med. Assoc. v. HHS, 2022 WL 542879 (E.D. Tex. 2022); on appeal to 5th Cir., No. 22-40264, Doc. 00516304229 (May 3, 2022). At the request of the IRS, DOL, and HHS, the Fifth Circuit has put a hold on the agencies’ appeal of the trial court case vacating key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).

Texas 98

Texas Tax accountant Account 98

Xero

MAY 17, 2022

While it may be lacking the fireworks and champagne of New Year’s Eve, come 1 July the new financial year ushers in fresh opportunities for Australia’s small businesses. Along with the new calendar, there are often regulatory changes for you to manage or implement. And this year is no different, with updates coming to payroll in FY23. . Starting from 1 July 2022, there are a number of government requirements that will impact how you manage payroll (including superannuation) for employees.

payroll 98

payroll bookkeeping Start-ups Government 98

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.

Anders CPA

MAY 17, 2022

If we’re discussing hindsight in business, let’s use a particularly early example. Pretend you own a business transporting goods by horse and carriage. You’re focused on finding a way to make your horses run faster or further. If you can figure that out, you’ll increase business. Meanwhile, there’s a guy trying to build an automobile that would replace the need for horses.

cpas 98

cpas Transportation CPA Sales 98

Going Concern

MAY 19, 2022

Hanlon’s razor states “never attribute to malice that which is adequately explained by stupidity.” Meaning most of the time when someone does something bad, it’s not because they’re a bad person, rather too stupid to know better. Or something. Socially anxious people with victim complexes — who no doubt make up a large portion of Going Concern readership as well as contributors — should read up on the concept next time they’re convinced colleagues

CPA 98

CPA Tax Georgia accounting and finance 98

ThomsonReuters

MAY 19, 2022

QUESTION: We understand there is a small employer exception to COBRA for employers with fewer than 20 employees. What employees should we count for purposes of this exception? ANSWER: A group health plan is not subject to COBRA for any year if all employers maintaining the plan together employed fewer than 20 employees on a typical business day during the preceding year.

payroll 98

payroll Tax accountant Account 98

Canopy Accounting

MAY 18, 2022

Mental health determines how we handle stress, make choices and relate to others. It also impacts how we act, feel and think. The Center for Disease Control shockingly states that 1 in 5 Americans will experience a mental illness in a given year. One of the leading causes of disabilities is depression according to the National Alliance of Mental Illness.

98

98

Advertisement

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.