TaxConnex
JUNE 1, 2021
Collecting and remitting sales tax can be onerous – and expensive – for any business. That’s one reason some states give a collection discount to help with the costs of managing sales tax. States offer it as a way of helping to pay administrative costs of compliance. And if it sounds like free money, it can be if your company knows how to take advantage of it in states where you have nexus.
PANALITIX
MAY 31, 2021
RESOURCES / ARTICLES. Specializing an Accounting Business: . What and How? Specialization is one way to distinguish your firm from the competition and generate more profitable work. But what should you specialize in? The clues lie in your clients, your market, your areas of interest and your skills. For an overview of the path to specialization, read on. .
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CTP
JUNE 1, 2021
If you haven’t looked at last week’s blog (“Reclassifying Non-Passive Income”), we suggest you do that first. Last week, we focused on classifying activities as either passive or non-passive. This week, we want to look at the rules of material participation. When intentionally trying to recharacterize income from non-passive to passive, we need to prove […].
RogerRossmeisl
JUNE 3, 2021
In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19. Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return was due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year).
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.
BurklandAssociates
JUNE 2, 2021
VC deal flow to Consumer startups accounted for well over 40% of all venture deals in 2020 and a whopping 46.6% in Q1 2021. The post VC Deal Flow Was Dominated by Consumer Startups in 2020 appeared first on Burkland.
GrowthForceBlog
JUNE 2, 2021
Summer is here- which means sunshine, the smell of freshly mowed grass, and some much-needed downtime is right around the corner. But as a business owner, it's much more than that. For some, the approaching summer translates to a slow and lean period. For others, business is booming. Whichever category your small or medium-sized business falls into, the summer months offer some unique opportunities, as well as challenges, that all businesses need to prepare for ahead of time.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
JUNE 3, 2021
(This is Blog Post #1027). The post Keep Your Network’s Connections Strong appeared first on Roger Rossmeisl, CPA.
Withum
JUNE 3, 2021
Many business people, especially professionals, feel it is important to get published. Others have a deep seated craving to write the next #1 Best Seller, and still others want to write so they could share personal notes, stories and anecdotes about their past, values or ethics, and some want to become a social media star. Whatever the reason you need to start.
AccountingDepartment
JUNE 4, 2021
Here at AccountingDepartment.com, we always strive to make our virtual workplace an enjoyable experience for all of our 130+ amazing employees. Earlier this year, our employees were anonymously surveyed and the results show that our efforts truly pay off - we're Great Place To Work Certified!
inDinero Accounting
JUNE 3, 2021
Outsourcing has been the way to grow a startup or small business, but that’s changing. According to Global Industry Analysts, Inc. , business process outsourcing (BPO) is ubiquitous with “doing business.” However, the BPO industry shrank by 28.7% in 2020. As CFOs pursue greater flexibility, liquidity, and risk management for their companies, alternatives to BPO are becoming more attractive.
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
JUNE 2, 2021
Not all red flags lead to active occupational fraud schemes. But when fraud is occurring, it usually leaves traces — for example, accounting anomalies — for fraud experts and other knowledgeable people to find. Owners and executives, as well as rank-and-file workers, should be familiar with the signs of fraud and know when to call in a forensic accounting specialist.
LyfeAccounting
JUNE 4, 2021
Today’s post is all about how to pay yourself as an LLC. Here at LYFE Accounting, not only do we help people pay themselves correctly as an LLC… …but we’ve also started one of the fastest-growing LLCs according to Inc Magazine and the financial times in 2021. So now, we want to walk you through how we pay ourselves as LLC owners, and how we advise our clients to pay themselves through an LLC.
AccountingDepartment
MAY 29, 2021
What is break-even analysis? The break-even point is when your company is not making any profit. At the same time, it is the place in time where your company is not making any profits either. Basically, your company is covering expenditures but not gaining any profits. A break-even point gives you a target of what you need to shoot for to make profits.
FraudFiles
JUNE 4, 2021
Every time I think I should start a podcast called The FraudFiles Podcast, I end up appearing as a guest on someone else’s show. It’s so much easier to just post all of those here and pretend it’s my own podcast feed. I hope I haven’t missed any! Exhibit (A)ttorney Show with Jordan Ostroff. May 17, 2021. The Ins & Outs Of Forensic Accounting & Finding Fraud.
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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
JUNE 1, 2021
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property. The credit is intended primarily for business users of alternative energy (other energy tax breaks apply if you use alternative energy in your home or produce energy for sale).
LyfeAccounting
JUNE 3, 2021
Today’s post is all about crypto! Now we’re pretty sure you’ve heard of cryptocurrency in the news, social media, or just talking with friends and family. But, do you understand it? Well if you’ve done any research on it, you may have found yourself even more confused. It’s not exactly an easy topic to understand. But don’t worry, we’ve done all of the research for you.
AccountingDepartment
JUNE 3, 2021
Indirect costs are necessary for the operation of a business. Indirect costs include things like office technology, rental equipment, marketing campaigns, supplies, and accounting services. When you know the true costs of both your indirect costs and your direct costs, you can then properly price your products or services for a profit. Indirect costs can be both variable and fixed.
ThomsonReuters
JUNE 3, 2021
Improving efficiency, driving automation, and streamlining internal processes are essential for tax and accounting firms looking to better meet increased client demands and, ultimately, generate greater profitability. . For today’s firms, this is made possible through the rise of application programming interfaces, more commonly known as APIs. API use has surged in recent years and is changing the way tax and accounting professionals work and serve their clients. .
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
FraudFiles
JUNE 1, 2021
When there are suspicions of hidden income or secret investments or bank accounts, an analysis of known bank accounts can reveal helpful details. Tracy Coenen explains how bank statements and credit card statements can be used by a forensic accountant in a divorce or child support case.
LyfeAccounting
JUNE 2, 2021
Want to Know How to File an Amended Tax Return? Today, we’re going to walk through, step by step, how to do it. Let’s dive right in! As an accounting firm, we’ve filed our fair share of amended tax returns. And, we wanted to make this post so there is less confusion and stress surrounding the topic. In today’s post, we’ll be going over when to amend your taxes and the 5 steps to actually amend your taxes.
xendoo
MAY 30, 2021
Florida is among the most tax-friendly states in America. If you have a small or midsize business in the state of Florida, you may be shielded from many typical forms of small business taxes. But how can you know which tax laws apply to your business? This post will cover some of the more common tax questions related to taxes for small businesses in Florida.
ThomsonReuters
JUNE 3, 2021
QUESTION: Our company sponsors a self-insured health plan. We maintain a HIPAA Notice of Privacy Practices. How often do we need to update the Notice? When must we distribute the updated Notice to plan participants? ANSWER: Your Notice does not need to be updated according to any particular timeline, but it must accurately describe your plan’s uses and disclosures of protected health information (PHI), individuals’ HIPAA rights, and the plan’s legal duties with respect to PHI.
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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.
AccountingDepartment
MAY 30, 2021
Having tax write-offs is a great way to save your business money. Here's a list of some tax write-offs that you may be entitled to this tax season.
LyfeAccounting
JUNE 1, 2021
Today, we are here to help you find grants for your business – basically free money that does not have to be paid back. There are many places to look for grants. But they often overly priced, overly confusing to navigate, or extremely outdated. So, we’ve compiled a list of the best grants and places to find grants to save you time and money.
GrowthForceBlog
JUNE 4, 2021
8 min read. If I asked you “How do you boost your bottom line?” - what’s the first thing that pops in your head?
ThomsonReuters
JUNE 3, 2021
Scott v. UnitedHealth Group, Inc., 2021 WL 2018839 (D. Minn. 2021). Available at [link]. Participants in several self-insured ERISA health plans sued the plans’ TPA (an insurer providing administrative services), seeking to bring a class action claiming that the TPA’s practice of cross-plan offsetting violates ERISA. Cross-plan offsetting is a way to recover overpayments to health care providers.
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.
RitaKeller
JUNE 4, 2021
“The spoken word and the written — there is an astonishing gulf between them.” – Hercule Poirot . Working in the CPA profession you do a lot of talking and writing. Are you even aware how you come across to others? Here’a a Flashback post that address both of these activities. Enjoy your weekend and do some reading!
ThomsonReuters
JUNE 3, 2021
HHS Resolution Agreement: Peachstate Health Mgmt., LLC (Apr. 28, 2021). Available at [link]. HHS’s Office for Civil Rights (OCR) has announced a $25,000 settlement with a clinical laboratory (a HIPAA covered entity) to resolve alleged violations of the HIPAA security rule. OCR began its investigation after the laboratory was acquired by another business that was already under an OCR compliance review.
ThomsonReuters
JUNE 3, 2021
Guy v. Bd. Of Educ. Rock Hill Local Sch. Dist., 2021 WL 1140224 (S.D. Ohio 2021). Available at [link]. A former employee sued the school board that had employed her and its two service providers for failing to provide a COBRA election notice upon her termination of employment. The employee claimed that she suffered unspecified damages and asked the court to impose fines, attorney’s fees, and “other relief.
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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.
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