BurklandAssociates
JUNE 29, 2021
The investment environment is tilted in favor of startups right now. And that means there’s a high likelihood you’ll be able to raise capital — in fact, it’s as high Read More. The post Evaluating Fit Between Entrepreneur and Investor appeared first on Burkland.
TaxConnex
JUNE 29, 2021
A voluntary disclosure agreement (VDA) is a legal means for taxpayers to self-report back taxes owed for income, sales, property, and other tax types. In exchange for voluntarily reporting the tax due, states offer a waiver of some penalties and other benefits to the business. If back taxes are not disclosed but are instead discovered through an audit, the taxpayer is at a disadvantage and will end up being assessed various penalties plus interest plus all historical tax due.
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AccountingDepartment
JUNE 30, 2021
Job costing is an often overlooked yet important component of business, especially for small to medium-sized companies. The pricing of your jobs shapes your bottom line. It can be argued determining the optimal price point for each specific job is one of the most important decisions small business owners make. This is precisely why job costing is so important.
xendoo
JUNE 30, 2021
Partnering with Gusto today means a better tomorrow for Xendoo customers. As a small business owner, you juggle multiple roles… bookkeeping, human resources, marketing, and all that goes into running your business every day. You love what you do and wish you could leave the complicated, boring stuff out of your day-to-day. Xendoo feels your pain, we recognize that bookkeeping and payroll are integral to your company’s operational success and your peace of mind.
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.
ThomsonReuters
JULY 2, 2021
In the aftermath of Brexit, most companies that conduct business in the United Kingdom (UK) and European Union (EU) have absorbed the initial shock and are now looking for more stable, long-term solutions to the challenges posed by the UK’s new trade regime. In a recent webinar, global trade experts from Thomson Reuters and EY discussed some of the tactics and strategies companies should be considering if they want to avoid unnecessary complications from Brexit, including shipping delays, invent
TaxConnex
JULY 1, 2021
Sales tax is a significant revenue source for many states. In fact, according to the Tax Policy Center, for many states, it can comprise 25%-35% of a state’s revenue. With the 2018 Wayfair decision , many more businesses are now required to collect and remit sales tax, and while many have taken action, there are still a lot who have yet to grasp it fully.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
JUNE 30, 2021
Sunday is Independence Day, a day we should all honor and celebrate. The founding fathers actually said it should be commemorated with spectacular displays of fireworks and pomp and circumstance. And that is how it has been celebrated ever since.
ThomsonReuters
JULY 1, 2021
IRS Notice 2021-42 (June 30, 2021). Available at [link]. The IRS has announced a one-year extension of the special tax relief for leave-based donation programs aiding victims of the COVID-19 pandemic. Under a leave-based donation program, an employer may permit its employees to give up their vacation, sick, or personal leave in exchange for cash payments by the employer to charitable organizations.
AccountingDepartment
JUNE 28, 2021
Remote work flexibility has become a common thing for companies in 2021 and it can ultimately lead to them retaining their staff. After the COVID-19 pandemic, people got a real taste of what working from home was like and this was probably one of the biggest adjustments companies had to make as the dust settled. A study by the global staffing firm, Robert Half, shows that about 1 in every 3 professionals working from home due to the pandemic would look for a new job if they were required to retu
GrowthForceBlog
JULY 1, 2021
6 min read. If you needed a sign to update your revenue forecast, this is it.
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.
Steve Feinberg
JULY 2, 2021
Don’t get caught by the nanny tax. This often overlooked bookkeeping and payroll tax requirement can cause a tangle of tax problems if not handled correctly. Could you be impacted? This is what you need to know. Nanny tax explained. In an effort to capture income from household employees, the tax code requires you to obtain employee information, pay the related state and federal taxes, and withhold taxes for anyone you employ around the house.
LyfeAccounting
JULY 2, 2021
Tax refund delays are completely out of control right now. Calling appears pointless as it is mostly automated, and checking your status on irs.gov only shows you if your tax return has been received by the IRS. But, it does not tell you why your tax refund is delayed. So, in this post, we want to go over the top 9 reasons why your tax refund is delayed this year.
AccountingDepartment
JUNE 29, 2021
On June 22, 2021, we had the pleasure of hosting a NetSuite-based webinar with our friends at goVirtualOffice. Our Co-Founder, Bill Gerber, and Dirk Shimpach, CPA and Co-Founder of goVirtualOffice review some Accounting Best Practices.
GrowthForceBlog
JULY 2, 2021
6 min read. You don't rent out an office to complete a single job. The benefits you offer don't directly affect a specific client, but they do attract top talent, resulting in better quality service. You don't invest in employee training to carry out a specific job, making it an overhead expense, but you do invest in employee training to improve or expand the services you provide.
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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.
LSLCPAs
JULY 2, 2021
Wow! Can you believe it’s been over 15 months since the CARES Act was passed? We know that some of you are saying it feels even longer. Besides the actual pandemic and the resulting government restrictions, you’ve had to deal with several major Congressional relief acts, ever changing guidance from Treasury and the SBA, and. The post PPP Part XVI – Happy Fourth of July!
ThomsonReuters
JULY 2, 2021
How to shift your mindset from accountant to business owner. You did it. You’ve made the leap from staff accountant to small firm owner. You’ve done the work, you have the experience, and you might even have a ready-made client list. More challenging, however, is the switch in mindset from an individual contributor to the one who is running the show.
AccountingDepartment
JULY 1, 2021
While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies. Just like for-profit businesses, non-profits use financial statements to report revenue generated and expenses incurred, although they may have different names.
LyfeAccounting
JULY 1, 2021
The IRS reminds me of Debo from the movie Friday! No matter how you receive income, where you receive income, or why you receive income, you can bet that the IRS wants their fair share of it. Most people know that income from your job or investment is taxable. But you’d be surprised at the number of things that are considered taxable that you never would have thought of.
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
Withum
JUNE 30, 2021
The adoption of new technology within enterprises has historically been a challenge. Successful change management and good user adoption of a new system starts with realizing that there’s a process for change management, and that approaching it in a mindful and intentional way can improve results.
ThomsonReuters
JULY 1, 2021
QUESTION: An employee who called in sick reported to her supervisor that she had tested positive for COVID-19, and the supervisor notified Human Resources. Does HIPAA prohibit Human Resources from notifying coworkers who had contact with the employee so they can get tested? ANSWER: HIPAA’s requirements to safeguard protected health information (PHI) apply only to covered entities (health plans, health care clearinghouses, and most health care providers), not to employers acting in their capaci
SkagitCountyTaxServices
JUNE 30, 2021
The past year and a half has been stressful for everybody in Skagit County. And I would argue it’s been doubly so for Skagit County business owners. The thing is though, these things happen. Quite regularly. Maybe not global pandemics, but disasters in general. So, as the person in your corner who might be one of the only ones asking you these questions — What happens to your Skagit County business if the building next door catches on fire?
xendoo
JUNE 30, 2021
The new product, dubbed “Gusto Embedded Payroll,” will allow vertical SaaS companies to provide payroll support to their own customers. The post Gusto is now offering pieces of its service to other companies via API appeared first on Xendoo.
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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.
LyfeAccounting
JUNE 30, 2021
Do you need a loan to get your business up and running? You’re not alone. About 43% of small businesses applied for business loans last year. And of those, 66% were actually approved. So in today’s post, we will break down the steps necessary to increase your chances of getting approved for business loans… …and start that business you’ve been dreaming about.
ThomsonReuters
JULY 1, 2021
IRS Notice 2021-40 (June 24, 2021). Available at [link]. The IRS has announced a 12-month extension of its temporary relief from the requirement that certain signatures be witnessed “in the physical presence” of a plan representative or notary public. The original relief, which appeared in IRS Notice 2020-42 (see our Checkpoint article ), was provided primarily to facilitate CARES Act distributions and loans (see our Checkpoint article ) but could be used during 2020 for any signature that, u
FraudFiles
JUNE 30, 2021
Last week I joined Leah Wietholter of Workman Forensics in Tulsa, OK on her podcast The Investigation Game. We talked about one of the largest consumer frauds: multi-level marketing (MLM). You may know MLM by other names such as: direct sales, network marketing, affiliate marketing, consumer-direct marketing, or home based business. MLM is not a business.
KROST
JUNE 30, 2021
KROST Client, Big Rock , has been making a name for itself in the luxury cannabis industry. The company’s affiliate entity, Sonoma Hills Farm , represents the finest in this consumer products industry, and recently their COO, Joyce Cenali, was named as one of SF Times Most Influential Women. We had the opportunity to catch up with Joyce to learn more about her career, Big Rock Partners, and her advocacy for equity in business, and mentorship to incredible founders that are sure to take the consu
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.
LyfeAccounting
JUNE 29, 2021
How to opt-out of monthly child tax credit payments? So if you are someone who does not want an advanced payment on your child tax credits… …maybe because you are worried about your tax liability, or maybe you just like the idea of a big tax refund when you file your taxes, t hen you can opt out. You can do so because the IRS just released a new tool on their website to help families manage all their child tax credit payments.
ThomsonReuters
JULY 1, 2021
IRS Chief Counsel Memorandum AM 2021-003 (June 8, 2021). Available at [link]. The IRS has released a Chief Counsel Memorandum addressing the process for assessing Code § 4980H employer shared responsibility penalties under the Affordable Care Act (ACA) against churches that are applicable large employers (ALEs). The memorandum explains that Code § 7611 protects tax-exempt churches from undue interference by permitting the IRS to begin a church tax inquiry (i.e., an inquiry as to whether the chu
LSLCPAs
JUNE 28, 2021
Payroll is one of your company’s biggest expenses representing 30 to 50% of all of your expenses depending on your industry. Your employees are one of your greatest assets. It is your company’s (or “plan sponsor”) fiduciary responsibility to ensure employees are paid correctly and that their retirement plan contributions are calculated appropriately and in.
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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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