This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
How much are consumers spending online, and what do merchants pay for shipping in relation to the overall revenue from those e-commerce orders? These are just two questions answered in the recent 2021 E-Commerce Shipping and Fulfillment Benchmarks Report. Sourced from Shippo customers of all sizes and across industries, results cover average orders for different products, shipping expense and overall growth of e-commerce over the past two years.
When a child takes over a family business they immediately become an entrepreneur. This can be a daunting undertaking if the child is not prepared or is not inclined to be a business owner. So, here are some things to consider.
7 min read. The pandemic brought on many tax changes- including the uptick in small business audits. In 2020, the IRS announced its plan to increase small business tax audits by 50% in 2021 [1].
The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. 1. Claim bonus depreciation or a §179 deduction for asset additions Under current law, 100% first-year bonus depreciation is available for qualified new and used property that’s acquired and placed in service in calendar year 2021.
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.
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. State Revenue Updates. Dire forecasts of states’ plunging sales tax revenue in the age of COVID continue to be proven wrong. Florida, which recently instituted economic nexus, is expected to beat pre-pandemic forecasts for general-revenue collections by about $1.2 billion for this fiscal year and $1.2 billion for next year – with online sales taxes making up a s
As Fintech continues to be a top destination for VC capital, the sector is driving key developments across the startup ecosystem. According to Pitchbook data, some $1.354B went into 40 Read More. The post Fintech Developments in the Startup Ecosystem appeared first on Burkland.
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court decision illustrates how that’s sometimes difficult to do. Basic rules for theft losses The tax code allows a deduction for losses sustained during the taxable year and not compensated by insurance or other means.
AccountingDepartment.com, the leader in outsourced accounting and bookkeeping services, would like to congratulate our amazing clients that made it onto the 2021 Inc. 5000 list. The Inc. 5000 ranks companies by overall revenue growth over a three-year period, so we are happy to see our clients continuing to grow!
Calculating adjusted tax basis in a partnership or LLC takes us into a complex area of tax law. Remember that the tax basis is equal to the purchase price of an asset minus any accumulated depreciation. This formula sounds simple enough, but a business’s entity type can introduce unique complications in determining the initial value […]. The post Calculating Adjusted Tax Basis in a Partnership or LLC: Understanding Inside vs.
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
As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or gift tax. The exclusion amount for 2021 is $15,000.
All businesses want to increase their cash flow rate, but sometimes cash flow delays come from within the company itself. Time-consuming manual processes and an Accounts Receivables (AR) staff that may be in the dark for some critical information can all be connected to a slow AR process.
The big news in Hollywod is a D-List actor named Zach Avery (legal name Zachary Horowitz) who is set to plead guilty to a Ponzi scheme in which he collected $650 million from about 250 investors. That’s a lot of money! And that’s an impressive scam. Over the years, I’ve written a bunch here about Ponzi schemes: What they are. Red flags of Ponzi schemes.
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.
7 min read. The US economy grew 6.3% in the first quarter, and 6.5% in the second quarter of 2021 [1]. Despite growing daily case numbers of the novel coronavirus's Delta variant, growth is still expected to continue.
It's a brave new cyber world that we live in, one where virtual currency exists to exchange and pay for things globally. Certainly, this throws a whole new monkey wrench into basic accounting platforms and raises a few questions. How is accounting for cryptocurrency handled by an accountant, and just what in the world is it anyway?
The EIDL is a loan directly from the SBA that offers a low-interest, fixed rate, long-term loan that is available to businesses that were impacted by the pandemic. Unlike the PPP, the EIDL must be repaid and cannot be forgiven. Below are the updates to the EIDL program: Maximum loan amount increased from $500,000 to $2 million. There is an exclusivity period; the SBA will not start approving loans greater than $500,000 until October 8, 2021.
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?
7 min read. It’s the year of the great resignation– Businesses everywhere are currently facing an unprecedented turnover surge and labor shortage , so focusing on employee retention to avoid high turnover rates and their costs is more important now than ever before!
“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.” – John Quincy Adams. Once again it is time to remind you of the leadership development programs offered by Convergence Coaching. Too many firms have ignored the need for structured leadership development programs and thus limit their choices when considering firm succession.
Though viewed with certain strengths such as agility, the small accounting firm has its own unique set of challenges due to size. At the forefront of those challenges is staffing, and how properly outsourcing affects your firm’s client relationships. In this episode of Pulse of Practice “Get big! A chat with Chris Papin”, Paul Miller, Owner of Business by Design , and I are joined by Chris Papin, owner of Papin CPA, PLLC.
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!
You’ve put in the years, labored long days, sweat the bad times, and high-fived in the good as your business grew. Now, it looks like it’s time to step away into the next life stage, slay the next dragon. It’s time to sell. (You think.). Whether you’re headed to another career or a seaside retreat, get what your business is worth before you walk away.
There are two inexpensive and simple steps that can be taken to provide more oversight for the disbursement function at a law office. First, a partner needs to be actively involved in the process of issuing checks and payments. It’s not enough to simply glance at checks to vendors and immediately sign them. Before any check is signed or sent out, it should be compared to an invoice, credit card statement, or other documentation that will help verify the legitimacy of the payment.
QUESTION: Is the COBRA premium subsidy still available for a period of coverage from April 1, 2021, through September 30, 2021, if the COBRA election is made after September 30, 2021? ANSWER: So long as a COBRA qualified beneficiary who is an Assistance Eligible Individual (AEI) under the American Rescue Plan Act of 2021 (ARPA) elects COBRA coverage for the period from April 1 through September 30, 2021, within COBRA’s 60-day election period, the subsidy is available.
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.
When you reconcile your bank account you may notice that there are old entries lingering around that you need to review for clean up. In fact when bank reconciliations are done monthly you should take a hard look at these outstanding entries for possible errors or issues that need to be handled. If you are doing these for your client or yourself, be sure to discuss and review with the appropriate people.
How Much Money Can I Make? As franchisors work to sell franchises, one question they will always be asked is, “how much money can I make?”. The answer to this question can be found within one section of the Franchise Disclosure Document: Item 19. In order to create a compelling Item 19, franchisors need financial data on the performance of each franchise location.
Proposed Revision of Annual Information Return/Reports, 29 CFR Part 2520; 26 CFR Part 301; 29 CFR Part 4065, 86 Fed. Reg. 51488 (Sept. 15, 2021); Proposed Rule: Annual Reporting and Disclosure, 29 CFR Part 2520, 86 Fed. Reg. 51284 (Sept. 15, 2021); Fact Sheet: SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500 (Sept. 14, 2021).
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
246 
Let's personalize your content