BurklandAssociates
AUGUST 3, 2021
Important efficiency metrics for SaaS startups include Sales Efficiency (aka the Magic Number), Human Capital Efficiency, and Capital Efficiency. The post 3 Important Efficiency Metrics for SaaS Startups appeared first on Burkland.
RogerRossmeisl
AUGUST 2, 2021
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But there may be a bright side: You may qualify for a tax break for paying the premiums. Medicare premiums are medical expenses You can combine premiums for Medicare health insurance with other qualifying medical expenses for purposes of claiming an itemi
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TaxConnex
AUGUST 3, 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. So what has the pandemic done to states’ coffers? States themselves don’t seem to know yet, according to a recent survey co-sponsored by the Tax Policy Center. Most states were unable to fully assess the impact of the pandemic on their budgets – due in part due to shifting tax deadlines – but most states did wind up with higher revenues than they foresaw some 14
xendoo
AUGUST 5, 2021
Small businesses are making the leap into digitalization to respond to evolving consumer behavior and expectations, adapting to new working norms, putting data to work to drive performance and building business resiliency. The post 4 Reasons Why Digital Transformation Is Table Stakes for Small Businesses appeared first on Xendoo.
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.
Withum
AUGUST 5, 2021
Comparing taxes among countries is a hobby for some, a talking point for others and an important metric for those that devise strategies or who track foreign trade and investments. However, it is an uneven process. Currencies, tax rates and how they are applied, fluctuating economic conditions, population sizes, governmental restrictions and regulations, the tax base and what is taxed and extraterritorial activities vary making comparisons inaccurate.
RogerRossmeisl
AUGUST 4, 2021
Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as a team — all require a certain level of trust. However, too much trust can lead to occupational fraud and conflicts of interest. To maintain the proper balance, establish a policy that outlines your disclosure expectations and require employees to follow it.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
MazumaBusinessAccounting
AUGUST 5, 2021
It’s tax time and you don’t have receipts for last year’s business expenses. Now what? You can still claim deductions on your taxes without receipts for every transaction. Keep in mind that you don’t have to send your shoebox full of receipts to the IRS. You’ll only need them if you’re audited (which can happen up to 6 years after filing your taxes).
FraudFiles
AUGUST 4, 2021
One of the last places you’d expect to find fraud is in a law practice. Like accounting, the practice of law is a profession in which ethics are of utmost importance. Accountants and lawyers are often too trusting of their fellow professionals, and therefore leave themselves open to the risks of fraud. The issue of fraud isn’t limited to a law practice of a particular size.
RogerRossmeisl
AUGUST 2, 2021
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a “spousal” IRA. It allows contributions to be made for nonworking spouses.
CTP
AUGUST 3, 2021
Business losses have become all-too common during COVID-19. Though new tax benefits have been introduced, understanding whether these will benefit a specific business can be a complicated process. One common COVID-era benefit is the Paycheck Protection Program (PPP) loan. Businesses celebrated the news that PPP funds are tax exempt, so they wouldn’t have to pay […].
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.
xendoo
AUGUST 3, 2021
Though bookkeeping may not be the most exciting part of running a business, it’s arguably one of the most important. Bookkeeping can help you maintain your financial records, track expenditures and revenue, and provide an up-to-date snapshot of the growth and overall health of your business. . Bookkeeping is the make-or-break factor for a business, sometimes determining the success or failure of a company.
AccountingDepartment
AUGUST 2, 2021
As an entrepreneur thinking of launching a small to mid-sized business, you may be wondering how much capital is needed to put up the business. The amount of capital you need depends on many factors. The type of business, whether you plan to outsource processes or keep everything in-house and whether your products and/or services will be offered online , from a brick-and-mortar base, or a combination of both are just three things that impact how much money you need.
RogerRossmeisl
AUGUST 4, 2021
There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called the “Trust Fund Recovery Penalty” and it applies to the Social Security and income taxes required to be withheld by a business from its employees’ wages. Because taxes are considered property of the government, the employer holds them in “trust” on the government’s behalf until they’re paid over.
GrowthForceBlog
AUGUST 5, 2021
6 min read. We've all experienced sophisticated, modern marketing tactics- you express interest in a product or service by viewing it online, and then later the same product or service turns up in a digital advertisement on another website.
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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.
Patriot Software
AUGUST 5, 2021
More and more states are jumping aboard the paid family leave bandwagon. One of the newest states to get in on the trend is Oregon. Read on to learn more about the new Oregon paid family leave program and how it impacts your business. Overview of paid family leave Paid family leave (PFL) requires employers […] READ MORE.
AccountingDepartment
AUGUST 5, 2021
Business process automation is evolving and becoming more popular to drive growth for companies. Freeing up staff and having the ability to transfer busy work to machines allows employees to flex their creativity and problem-solving skills. The result is accomplishing more while the automation takes care of the rest behind the scenes.
RogerRossmeisl
AUGUST 5, 2021
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. Census Bureau reports that business applications are up 18.6%. The Bureau measures this by the number of businesses applying for an Employer Identification Number. Entrepreneurs often don’t know that many of the expenses incurred by start-ups can’t be currently deducted.
xendoo
JULY 31, 2021
We believe business owners should have time to do what they love, build their business – not do bookkeeping. The post Profile of a Founder: Lil Roberts of Xendoo appeared first on Xendoo.
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
ThomsonReuters
AUGUST 3, 2021
As an API Solutions Consultant for Thomson Reuters, I am continuously speaking with different customers about which APIs we offer and different use cases on how to implement them. But why are APIs so important to CPAs and how does an accountant learn about APIs if they don’t have a technical background? . The article that follows is an interview with Ford Baker and Joe Abesamis from the Baco group about their API journey. .
RogerRossmeisl
AUGUST 2, 2021
Most restaurants are finally reopening to in-person dining. And while you may now be thinking about luring customers back, hiring enough workers and managing supply-chain shortages, one issue has remained the same: fraud. Restaurants often face fraud threats from employees, customers and vendors. So now isn’t the time to drop your guard. Potential risks Your restaurant may have high transaction volumes but lack the technology linking point-of-sale, inventory and accounting systems.
xendoo
AUGUST 2, 2021
You’ve put your heart and soul into your business. So why does it feel like you’re spinning your wheels, trying to keep up with your core business and your administrative overhead at the same time? . When you first started your company, it might have made sense to try to handle your own bookkeeping and accounting needs. After all, it kept costs down.
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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.
KROST
AUGUST 6, 2021
The Tax Cuts and Jobs Act passed in December 2017 limited the state and local tax (SALT) deduction for individuals to $10,000. States have worked to find ways around the limit using various methods and gimmicks, which the IRS has rejected until recently. The IRS has issued guidance that allows states to work around the $10,000 limit using pass-through entities, but this required legislative action by the state.
Pooley Accounting Services
AUGUST 5, 2021
When it comes to paperwork, most business owners fall into one of two extremes. There are those who have huge boxes full of every receipt, invoice, carbon copy, and cocktail napkin they’ve ever come across (“just in case”), and those who hold onto almost nothing. . So, what do you REALLY need to keep for taxes, and how long do you need to keep it? .
RogerRossmeisl
AUGUST 3, 2021
According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their spouses and dependents also suffered big financial losses to fraud last year. In fact, in 2020, military consumers lost more than the general public to fraud — a median $600 compared to $311 for nonmilitary consumers.
xendoo
AUGUST 2, 2021
How much is your business currently spending on accounting costs? According to the small business organization known as SCORE, roughly 1 in 5 small businesses are sinking as much as $10,000 in bookkeeping costs and other fees. Roughly 1 in 6 are spending $20,000 or more! How much does a CPA cost in 2021? Do you really need a CPA as well as a bookkeeper?
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
AUGUST 4, 2021
In just a moment, we’re going to show you a reliable set of steps to fix bad credit fast. . This post is for you if you have no credit, bad credit, or just want to boost your scores as high as humanly possible. Probably similar to you, most parents never told their kids about the importance of good credit or what it takes to boost your credit score… …and the truth is that, having bad credit is downright expensive. .
ThomsonReuters
AUGUST 5, 2021
On August 4, 2021, the IRS released Notice 2021-49 that provides additional guidance regarding claiming the Employee Retention Credit (ERC) for employers who pay qualified wages after June 30, 2021, and before January 1, 2022 [IR 2021-165,?Notice 2021-49]. Overview. The Employee Retention Credit is a refundable tax?credit against certain employment taxes of the qualified wages an eligible employer pays to employees?
RogerRossmeisl
AUGUST 3, 2021
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just 0.5% of individual tax returns were audited in 2020.
xendoo
AUGUST 5, 2021
When it comes to financial health as your scaling your startup there are six steps to healthy financials for scaling your startup. Watch for insightful tips for your small business by our CEO and Founder Lil Roberts, at This Week in Startups – Scaling your Startup. E1224 of Low Burn. The post Low-Burn | Scaling Your Startup S2 E8 with Neyborly’s Ben Seidl & Xendoo’s Lil Roberts | E1224 appeared first on Xendoo.
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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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