Sat.Jul 17, 2021 - Fri.Jul 23, 2021

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IRS Releases It’s “Dirty Dozen” Scam List for 2021

RogerRossmeisl

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. On 6/28/21 the Internal Revenue Service, via IR 2021-135, began its “Dirty Dozen” list for 2021 with a warning for taxpayers, tax professionals and financial institutions to be on the lookout for these 12 nefarious schemes and scams.

CPA 246
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Random Sales Statistics, Little Nudges

PANALITIX

RESOURCES / ARTICLES. Random sales statistics, little nudges. Sometimes the biggest value of a “statistic” you happen upon is that it challenges you to think for a bit. Maybe think differently for a bit. This can be the beginning of a new habit that leads to a shift in the way you work – for the better! I came upon some “sales” statistics* on the interweb (so we know they’re legit).

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Calculation vs. Compliance: A Deep Dive into Two Important Pieces of Your Sales Tax Process

TaxConnex

For most businesses, sales tax is not a top priority. It probably doesn’t even make the top 5 list! But if not managed correctly, it can cause major headaches. Understanding the various aspects of your sales tax process is critical to minimize your risk and to keep your business on solid ground as it relates to sales tax. Now that we are three years post the Wayfair decision, and all states with a state-wide sales tax have enacted economic nexus laws, most businesses with a sales tax obligation

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Would My Startup Survive Due Diligence? Part 1: Sales Tax

BurklandAssociates

Welcome to the first in a series of articles examining areas of due diligence that can delay or derail transactions, and leave startup founders red-faced right when they want to Read More. The post Would My Startup Survive Due Diligence? Part 1: Sales Tax appeared first on Burkland.

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If It Ain't Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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IRS 2021 “Dirty Dozen”- Personal Information Cons

RogerRossmeisl

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. This year’s “Dirty Dozen” is separated into four separate categories: Pandemic-related scams like Economic Impact Payment theft (See Blog Post 1049) Personal information cons including phishing, ransomware and phone “vishing” (This Blog P

CPA 246

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Money Secrets of the Rich and Famous…Checklist

Withum

The East Brunswick Public Library sponsored my presentation last week about Money $ecrets of the Rich and Famous and I had a slide with 10 bullet points that seemed to provide a clue to what the wealthy do, and so should most people, so am including it here with some added comments.

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Advance Child Tax Credit

CapataCPA

Advance Child Tax Credit information: What you need to know The IRS created a Child Tax Credit Update Portal, it is a password-protected tool available to everyone with internet access from any device. You may check on your eligibility, payment status, or unenroll from this benefit. If you have an existing IRS account, you may use. The post Advance Child Tax Credit appeared first on CPA firm in Orange County, CA | CAPATA.

Tax 98
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IRS 2021 “Dirty Dozen” – Pandemic-Related Scams

RogerRossmeisl

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. This year’s “Dirty Dozen” will be separated into four separate categories: Pandemic-related scams like Economic Impact Payment theft (This Blog Post) Personal information cons including phishing, ransomware and phone “vishing” (See Blog P

CPA 246
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Extensions to the Paid Sick Leave and Family Leave Credits in 2021

CTP

Employers will continue to see tax benefits for providing paid sick leave and family leave for the second and third quarters of 2021. The Families First Coronavirus Response Act (FFCRA) created an employer tax credit to reimburse employees’ sick and family leave for reasons related to COVID-19. This credit has been extended through the end […].

Tax 98
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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Sarah T. Ciuk, CPP Appointed to Intuit QuickBooks Accountant Council

AccountingDepartment

Select Panel Advises on Products and Services that Accountants and Their Clients Want Most. Naples, Florida – July 22, 2021 – Today, Intuit, Inc (Nasdaq: INTU) announced that Sarah T. Ciuk, CPP has been named to the company’s U.S. Accountant Council advisory board. Intuit’s mission is to power prosperity around the world, and it accomplishes this through its innovative ecosystem of financial management solutions that serve more than 100 million accounting professionals, small businesses and cons

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10 California Labor Laws Your Business Needs to Brush up On

Patriot Software

The Department of Labor (DOL) enforces more than 180 federal laws. These laws can vary depending on your business and employees. And, some states might have additional labor laws that business owners must follow. One state that has some unique regulations is California. Read on to learn about California labor laws and how they impact […] READ MORE.

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IRS 2021 “Dirty Dozen” – Preying on Unsuspecting Victims

RogerRossmeisl

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. This year’s “Dirty Dozen” is separated into four separate categories: Pandemic-related scams like Economic Impact Payment theft (See Blog Post 1049) Personal information cons including phishing, ransomware and phone “vishing” (See Blog Po

CPA 246
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Save Your Small Business With These Cash Flow Strategies

GrowthForceBlog

7 min read. Everything about your business can be perfect – your people, your services, your advertising, and your market – but, no matter how flawless your business seems to be, you can still encounter cash flow problems that could threaten your company's future.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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The Benefits of Accrual Accounting for Your Business

AccountingDepartment

Accounting methods are tools for businesses to use in order to record their finances and keep track of their finances. The two most popular accounting methods that businesses use are accrual accounting and cash accounting. When comparing the two methods, the cash accounting method is an easier way to record financial records. At the same time, the accrual accounting method allows businesses to see expenses as they are happening.

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Visible To The Outside World

RitaKeller

“Customers will never love a company until the employees love it first.” – Simon Sinek. What do your clients say about your firm? What do your employees say about your firm? Clients talk to their employees, families, friends, and business associates. Employees talk to their families and friends. What they say is a reflection of your firm’s culture.

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IRS 2021 “Dirty Dozen” – Persuading Taxpayers into Unscrupulous Actions

RogerRossmeisl

Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare their returns or hire someone to help with their taxes. This year’s “Dirty Dozen” is separated into four separate categories: Pandemic-related scams like Economic Impact Payment theft (See Blog Post 1049) Personal information cons including phishing, ransomware and phone “vishing” (See Blog Po

CPA 246
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Your Business Is Stuck In A Plateau. Should You Get A GAP Analysis?

GrowthForceBlog

5 min read. Why is my business not making money? Why are we not able to grow? What are the problems holding us back?

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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ADC’s Cathy Becker to Join Jirav at AICPA Engage

AccountingDepartment

Cathy Becker, CPA, Senior Controller and Project Manager here at AccountingDepartment.com, is speaking at AICPA Engage 2021, joining forces as a panelist with the Jirav team! Along with Blake Oliver , Martin Zych , and Bruce Phillips of Jirav for " Financial Forecasting: Add Value, Save Time and Delight Clients", Cathy will share her experience and knowledge with attendees in person and virtually.

CPA 98
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What Are Bank Reconciliations and Why Every Business Should Do Them

Ronika Khanna CPA,CA

Many small business and self employed owners take on the responsibility of doing their own accounting. You may do your own accounting from set up to preparing your own small business tax return OR you may have an accountant who simply takes care of your year end and tax reporting while you do the rest. Accounting software has made doing your own accounting much simpler and allows for many business owners to do it, regardless of whether they have some sort of accounting background.

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The 10 Best Property Taxes By States in 2021: Move Here to Save Money!

LyfeAccounting

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5% which you’ll see is almost 10 times the rate that people are paying in other states.

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Lower Turnover & Boost Profits By Honoring Maslow's Hierarchy Of Needs

GrowthForceBlog

5 min read. Employees are continuing to contemplate whether they should consider jumping ship, as turnover rates steadily sweep the U.S.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Economy Surges and Increasing Investments are a Strong End to Q2

AccountingDepartment

The economy is opening back up and confidence is rising among CEOs of small to medium-sized businesses. After surviving the COVID-19 pandemic, you could only figure that it's "only up from here", right?

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Testifying in Court as an Expert Witness

FraudFiles

While waiting in the hallway outside the courtroom to testify as an expert witness, I thought of all the ways my testimony could go wrong. I had hours to contemplate opposing counsel’s questions for me. It was my first time testifying, and I didn’t want to blow it. But I relaxed as I eased into the witness chair and stole a glance at the jury. They were ordinary people who were just hoping to understand my calculations.

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The 10 States With the Lowest Property Taxes in 2021

LyfeAccounting

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5% which you’ll see is almost 10 times the rate that people are paying in other states.

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Debit vs. Credit in Accounting: What’s the Difference?

xendoo

There are a lot of things people don’t tell you about being a small business owner before you get started. Between serving customers, managing employees, keeping your books up to date , and struggling to build the reputation of your brand, it’s a constant process of learning on the job. . Also, you probably didn’t realize that opening your own business would require you to become an accountant by default.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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How Do We Decide What Plan Number to Assign to a New Plan?

ThomsonReuters

QUESTION: Our company is establishing a new health plan. How do we determine what plan number to assign to it? ANSWER: The number for your new plan will depend on whether your company maintains or has previously maintained another welfare plan. A plan number is a three-digit number that the plan sponsor assigns to differentiate a plan from other plans that it sponsors.

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Steve Padgett’s Business Negotiation Skills FTW

SkagitCountyTaxServices

Alright Skagit County business owners, we’re going to move aside from tax-related things today (though there will be PLENTY to talk about as Congressional plans unfold) … and circle back into the nitty-gritty of how business works and share with you some business negotiation skills we’ve learned over the years. I write about this stuff because I don’t see a business relationship as merely transactional; we’re here to serve and advise Mount Vernon business owners in a variety of

CPA 52
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What to Do After You Start an LLC? 6 Critical Next Steps

LyfeAccounting

Great, you have an LLC and now you have all that is required to get to work and operate your business! Hold up! We wish it was that easy, right? You see, everyone talks about getting an LLC but not many people talk about what to do after you start an LLC. And this is kind of scary if you don’t know what to do. So in this post, we’re going to tell you what to do after you start an LLC.