RogerRossmeisl
JULY 14, 2021
The world’s largest meat production company was recently sidelined by a ransomware attack. The hack forced the company to temporarily shutter plants in the United States, Canada and Australia, affecting the U.S. meat supply and even hurting commodity prices. If it seems like cybercriminals often target manufacturing (including food processing) and distribution companies, that’s because they do.
GrowthForceBlog
JULY 14, 2021
6 min read. You've hit 7-figures in your consulting firm — a major milestone! As your consulting firm stands now, you're only able to do so much with the resources you currently have built into your business model.
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MazumaBusinessAccounting
JULY 15, 2021
Running your own business is rewarding, but it can also be overwhelming. There are dozens of administrative tasks to keep tabs on besides your day-to-day work. I’ve been there, and I’ve felt that nagging feeling that I am letting something important slip through the cracks. That’s why I wanted to put together these tips to help you stay on top of your finances while growing a successful business. 1.
TaxConnex
JULY 13, 2021
We are very excited to announce the launch of our newly designed website. Visit us at www.taxconnex.com to check it out! After several months of hard work and dedication, we are delighted to officially announce the launch of our newly designed website. We wanted to make the new website faster, easier to navigate, and more informative , and we believe this new site achieves all these things!
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 14, 2021
Fraud perpetrators take whatever they can get their hands on. But fraudsters prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise and tools to trace even cash-based theft. Multiple opportunities According to the Association of Certified Fraud Examiners, there are three main categories of cash fraud, which includes checks because they’re easily converted to cash: theft of cash on hand, theft of cash receipts, and fraudulent disbursements.
BurklandAssociates
JULY 13, 2021
By now you have probably heard of the 2018 U.S. Supreme Court ruling in South Dakota v. Wayfair (“Wayfair”), which granted all 50 states the ability to reach out to Read More. The post Sales Tax on SaaS: A Checklist & State-By-State Guide for Startups appeared first on Burkland.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
JULY 15, 2021
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 that occurred over the last month. Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales.
RogerRossmeisl
JULY 14, 2021
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other non-tax benefits. The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you may be able to: Shift your high-taxed income into tax-free or low-taxed income, Realize payroll tax savings (depending on the child’s age and how your business is organized), and Enable retirement plan contributions for the children.
GrowthForceBlog
JULY 16, 2021
7 min read. We've all been in meetings where no one contributes, no one takes anything away, and everyone leaves feeling a little less vibrant, having been drained of time and energy. This type of meeting is costly- and your bottom line takes the hit.
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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.
ThomsonReuters
JULY 15, 2021
QUESTION: We have heard from our company’s group health plan insurer that our plan must continue covering certain patients who are undergoing treatment when we change our contractual relationship with their provider. What are the rules, and when do they apply? ANSWER: The surprise medical billing legislation passed in December 2020 (see our Checkpoint article ) included a new patient protection mandate referred to as “continuity of care” that applies when a provider ceases to be an in-network
RogerRossmeisl
JULY 13, 2021
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child tax credits changed? The ARPA temporarily expanded and made CTCs refundable for 2021.
Withum
JULY 14, 2021
Most people I speak to have faint memories of last year’s stock market drop. The resulting increase created that memory lapse. Question: How did you feel when the market dropped?
xendoo
JULY 14, 2021
In the past, online sellers often had to dig into their own pockets to fund their eCommerce business dreams. . Since small or growing businesses are technically high-risk investments, banks and other financial institutions were reluctant to part with their cash to help eCommerce sellers. . But times have changed. . Today, there is a growing number of funding options eCommerce entrepreneurs can tap into to make even their biggest, hairiest goals reality.
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.
ThomsonReuters
JULY 15, 2021
Hua v. Board of Trustees, 2021 WL 2190906 (D. N.J. 2021). A participant in a union- and employer-sponsored self-insured group health plan was injured in an accident and sued the other parties involved. The plan administrator asserted its right, under the terms of the plan, to be reimbursed for the participant’s accident-related medical expenses (paid by the plan) out of any recovery.
RogerRossmeisl
JULY 11, 2021
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules for businesses that have considered revisiting the Employee Retention Tax Credit. Background Back in March of 2020, Congress originally enacted the ERTC in the CARES Act to encourage employers to hire and retain employees during the pandemic.
FraudFiles
JULY 14, 2021
Hiring a forensic accountant for your divorce is expensive. If you can’t afford a forensic accountant, what can you do when you receive all the financial discovery in your divorce case? First, the documents you’ll need: Tax returns and W-2s. Pay statements or stubs. Bank statements, deposit tickets, canceled checks, check registers (hard copy or software like Quicken).
CTP
JULY 13, 2021
The Dependent Care Credit is available to taxpayers who pay someone else to care for a dependent under age 13 or to care for a spouse or dependent who is unable to care for themselves. The goal of the credit is to help subsidize dependent care expenses so the taxpayer is able to work or […]. The post Navigating Changes to the 2021 Dependent Care Credit appeared first on certifiedtaxcoach.
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.
ThomsonReuters
JULY 15, 2021
IRS Information Letters 2021-0003 (Dec. 14, 2020) and 2021-0013 (Apr. 27, 2021). Letter 2021-0003. Letter 2021-0013. The IRS has released two information letters that address the substantiation rules for health FSA debit card programs. One letter responds to an inquiry on behalf of an individual whose card was deactivated for failure to provide requested documentation to substantiate expenses paid with a health FSA debit card.
Withum
JULY 13, 2021
Thursday I am presenting a webinar for the East Brunswick Public Library titled Money $ecrets of the Rich and Famous…and what you can learn from them. It is free and I guarantee you will enjoy it and will learn about some “insider” financial planning tips.
xendoo
JULY 12, 2021
As your business grows, however, things start to change. It becomes harder and harder to keep up with everything that needs to be done, and something has to give. By outsourcing strategic tasks, like finding an online bookkeeping and accounting team you can trust, you can open up time in your daily schedule without spending a fortune on full-time employees. .
Patriot Software
JULY 14, 2021
If you’re an employer with employees in Washington, listen up. Starting in 2022, you need to make an additional deduction from Washington workers’ paychecks for the Washington Cares Fund. But, what is the Washington Cares Fund, and how much do you have to deduct and remit? Get all of the answers about the new program […] READ MORE.
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.
ThomsonReuters
JULY 13, 2021
Backup Withholding. The IRS requires the payer of certain income payments to be reported on information returns (e.g., Form 1099-NEC , Nonemployee Compensation ). Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed.
GrowthForceBlog
JULY 12, 2021
6 min read. We don’t need to tell you that your business depends on sales, and you must find ways to continuously motivate your sales force.
xendoo
JULY 12, 2021
Bank reconciliation is a task that sounds boring even before you know exactly what it is. As a business owner who already has too many tasks and not enough time, it’s easy enough to just take a pass on something that sounds so dull. . Unfortunately, skipping out on bank reconciliation is not something you can afford to do. With this post, we’d like to give you a quick introduction to the concept of bank reconciliation and why it’s an essential part of your ongoing accounting and bookkeeping acti
AccountingDepartment
JULY 13, 2021
Working from home has many perks, but a few challenges are attached to it as well. Staying productive is the most important thing a remote employee can sometimes struggle with. As a fully remote company, all of our employees work from the comfort of their own homes, so we’ve laid out a few pointers to help battle the productivity struggle and knock out that task list of work on a daily basis.
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
RitaKeller
JULY 15, 2021
“Always bear in mind that your own resolution to succeed is more important than any one thing.” – Abraham Lincoln. My husband and I are history buffs , especially Civil War history. We have visited many battlefields and other sites. Ken Burns’ Civil War has taught us so much and a movie I always recommend is Gettysburg. It tells the story from both sides and is quite informative.
xendoo
JULY 12, 2021
Everyone was affected in one way or another by the COVID-19 pandemic. Whether it was by contracting the disease, dealing with illness in your family, or just the extended effects of the shutdowns and restrictions, this global event didn’t leave anyone untouched. . For business owners, the challenge of keeping the doors open and the lights on has been significant.
AccountingDepartment
JULY 14, 2021
Join our co-founder, Bill Gerber, at the 2021 GovCon Accounting Summit from July 20, 2021, to July 22, 2021! The GovCon Accounting Summit is the premier educational experience for government contract accounting professionals.
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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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