BurklandAssociates
JULY 28, 2021
Crowdfunding allows large numbers of people to contribute relatively small amounts of money through the Internet to a given project, cause, or new business venture. Crowdfunding is a powerful form Read More. The post What Is Crowdfunding? appeared first on Burkland.
RogerRossmeisl
JULY 27, 2021
If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may deal with when you retire: Taking required minimum distributions This is the minimum amount you must withdraw from your retirement accounts. You generally must start taking withdrawals from your IRA, SEP, SIMPLE and other retirement plan accounts when you reach age 72 (70½ before January 1,
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MazumaBusinessAccounting
JULY 29, 2021
Are you looking to build your business? As small business owners, it is easy to get distracted by the length of our to-do list and lose sight of the important factors that drive our business’ success. It’s also easy to ignore financial reports when we don’t know how to translate the numbers on the report into key insights about the health and value of our business.
TaxConnex
JULY 29, 2021
Sales tax is complex for any business selling into multiple states. But there are specific states and jurisdictions that make it extra confusing for those trying to maintain compliance. One such location is Chicago, Illinois. Chicago is a home rule city and taxes several items that are not taxable at the state level. One example is Software-as-a-Service (SaaS) which is not taxable at the state level but is taxable within the City of Chicago.
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.
RogerRossmeisl
JULY 30, 2021
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to minimize your expenses. Here are some possible options. Savings bonds Series EE U.S. savings bonds offer two tax-saving opportunities for eligible families when used to finance college: You don’t have to report the interest on the bonds for federal tax purposes until the bonds are cashed in, and Interes
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
JULY 27, 2021
An exemption certificate is used to exempt an otherwise taxable transaction from sales tax. The most common exemption certificate is a resale exemption certificate (aka a resale certificate). In the absence of a valid resale certificate, an auditor is likely to assume the transaction was taxable. As a result, it’s critical for the seller to maintain copies of these resale certificates in the event of an audit.
RogerRossmeisl
JULY 27, 2021
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S.
Patriot Software
JULY 26, 2021
Deciding whether you want to provide paid time off (PTO) is something you need to do before you hire an employee. Offering PTO also requires you to craft a policy that explains how your business treats accrued time off. But, PTO payout laws by state may restrict whether you can establish a use-it-or-lose-it policy. Sure, […] READ MORE.
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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.
AccountingDepartment
JULY 24, 2021
If you have a cash shortage with your business, it is important to have a strategic plan to survive and reverse the shortage. If you don't have a plan in place, you could find yourself falling short on money for expenses like payroll. In order to prevent a cash flow shortage , you need to take action ahead of time. Here are a few steps you can take to prevent or survive a cash shortage flow.
RogerRossmeisl
JULY 30, 2021
As we continue to come out of the COVID-19 pandemic, you may be traveling for business again. Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. These rules apply if the business conducted out of town reasonably requires an overnight stay. Note that under the Tax Cuts and Jobs Act (TCJA) , employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns.
ThomsonReuters
JULY 29, 2021
QUESTION: A few participants in our company’s health FSA told us that their doctors have started charging patients a monthly fee that is payable whether or not the patients visit the office. There is no additional charge for actual office visits. Can our health FSA reimburse this fee? ANSWER: Generally, fees of this type are not reimbursable. In our view, such fees are like insurance because they are payable whether or not medical care is provided.
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.
CTP
JULY 27, 2021
California Prop 19, also known as “The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act,” went into effect on February 16, 2021. This blog will review the three classes of people who can benefit from this legislation, as well as the strict limitations it introduces to parent-to-child property […].
Withum
JULY 28, 2021
A lot of people set retirement goals many years in the future. Some are fortunate to reach it and some not so fortunate. Here is a plan, or a template, for those that could tell that they are not going to attain their goals.
RogerRossmeisl
JULY 27, 2021
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. 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. Monday, August 2 Employers report income tax withholding and FICA taxes for second quarter 2021 (Form 941) and pay any tax due.
ThomsonReuters
JULY 29, 2021
IRS Notice 2021-46 (July 26, 2021). Available at [link]. The IRS has issued additional Q&A guidance on the COBRA premium assistance provisions of the American Rescue Plan Act of 2021 (ARPA). Under ARPA, a 100% COBRA premium subsidy and additional COBRA enrollment rights are available to certain assistance eligible individuals (AEIs) during the period beginning on April 1, 2021, and ending on September 30, 2021 (the “Subsidy Period”) (see our Checkpoint article ).
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.
Patriot Software
JULY 26, 2021
Offering competitive benefits attracts, satisfies, and retains top talent. Benefits include everything from retirement plans to health insurance coverage. When you dive into different small business employee benefits, you might consider a section 125 plan. But, what is a section 125 plan? Is it a cafeteria plan? Are section 125 plans pre-tax health insurance?
RogerRossmeisl
JULY 27, 2021
To use their ill-gotten cash, criminals must make it appear legitimate. That’s the job performed by money launderers, who increasingly use cryptocurrencies. According to digital currency analytics company Elliptic, crooks use them to launder $3 to $4 billion per year. With over 4,000 digital currencies to choose from, they gain access to a liquid asset that’s cost effective and usually untraceable.
GrowthForceBlog
JULY 26, 2021
6 min read. Why is my business not making money? Why are we not able to grow? What are the problems holding us back?
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.
xendoo
JULY 26, 2021
Bookkeeping is vital to the success of every business, but business owners rarely have the time (or desire) to manage it themselves. In order to save their time and sanity, many partner with an online bookkeeping and accounting team. There are many options available, ranging from traditional CPAs to tech-savvy online providers. How do you choose the right financial partner for your business?
RitaKeller
JULY 26, 2021
“Success is not final; failure is not fatal: It is the courage to continue that counts.” – Winston Churchill. If you haven’t seen the recent interview of Allan Koltin by Russell Shapiro , it’s time you took a few minutes and watched it. CPA firm leaders need to keep current on the latest trends in M&A and there is no one more in-tune than Allan Koltin.
GrowthForceBlog
JULY 30, 2021
8 min read. How much should Nonprofits spend on bookkeeping and accounting? As a nonprofit leader, you naturally want as much of your resources to go toward furthering your mission as possible, but of course, keeping a nonprofit's operations in motion doesn't just happen for free. In addition to paying employees, office & equipment expenses, and technology costs, nonprofits also need the right processes and procedures in place for audit readiness and mitigating watchdogs.
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
LyfeAccounting
JULY 30, 2021
In today’s post, we’re going to settle the great debate once and for all – and that is the answer to one question: Which is the better investment – stocks vs real estate? Read until the end of this post for the pros and cons of both, and our opinion as someone who has invested and advised people in both asset classes. It’s no secret that real estate investing has created 90% of the world’s millionaires.
ThomsonReuters
JULY 30, 2021
Tax and accounting professionals can be risk-averse and take a conservative, measured approach to analyzing facts and figures, leaving no stone unturned, and always proceeding with caution. This approach is why they’re successful in business. . But this same cautious approach has caused the accounting profession to fall behind other industries in adopting new technology and a digital first mindset that can help firms evolve their business. .
SkagitCountyTaxServices
JULY 29, 2021
No matter how far around the block customers are waiting, in business, only one line counts. The bottom one. That’s why reducing business expenses is critical. Getting a grip on the costs of doing business brings you benefits both short- and long-term. “Cost controls” generally mean saving money (who doesn’t like that?) and laying the foundation for greater efficiency and profitability in the future.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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