Sat.Sep 19, 2020 - Fri.Sep 25, 2020

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Why small business owners need to own marketing instead of renting it

DuctTapeMarketing

Why small business owners need to own marketing instead of renting it written by John Jantsch read more at Duct Tape Marketing. Odds are this question has crossed your mind at one point in time if you’re a small business owner: “Should I hire someone in-house for marketing or continue to seek outside help?”. So many small business owners are afraid to hire marketing people internally.

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5 Steps to Put Your Business on the Right Track to Maintain Sales Tax Compliance

TaxConnex

It has been two years since the US Supreme Court passed the Wayfair decision which paved the way for states to enact economic nexus rules. At this point, the majority of finance professionals understand the need to maintain sales & use tax compliance. Most businesses have some type of process in place although it may not be comprehensive enough.

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Common Accounting Mistakes: Government Edition - Issue #6 Fixed Assets

SMBAccountant

Nearly all businesses have some kind of fixed assets. A fixed asset is something purchased or assembled that is intended for long-term use. It is not a liquid asset and cannot be converted quickly to cash. The useful life, or amount of time the asset should be useful to the company, must be greater than one year and be greater than the established corporate limit.

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PPP Update: Two New Rules for Owners of S and C Corporations

Bharmal&Associates

PPP Update: Two New Rules for Owners of S & C Corporations. The Payroll Protection Program (PPP) rules—they keep a-changing. During the past month, the Small Business Administration (SBA) issued a new set of frequently asked questions (FAQs) and a new interim final rule, which in combination create the following good news for the Payroll Protection Program (PPP): More forgiveness.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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FinCEN Files Show Banks’ ‘Whack-a-Mole’ Battle Against KYC/AML

PYMNTS

Gross negligence – or evidence of a battle waged by banks that requires new, high-tech weaponry? To that end, and as reported by BuzzFeed , documents submitted by banks to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity.

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Taxes in the Telecom World: Misconceptions and Advice

TaxConnex

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. Taxes are an integral part of the telecom world. Taxes, fees and government surcharges on telecommunications services increased from 19.1% to 21.7% in 2019 (even as average monthly bills for consumers actually dropped). In talking with countless telecommunications service providers about their various tax and regulatory requirements, there are some recurring themes I hear that can

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Seven Things To Know Before You Take Out EIDL Loan

Bharmal&Associates

Seven Things To Know Before You Take Out EIDL Loan. Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic. Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back.

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Federal Banks, Savings Associations Win Approval For Some Crypto Activities

PYMNTS

The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . A letter by the Office of the Comptroller of the Currency (OCC) published on Monday (Sept. 21) clarified the authority for national banks and federal savings associations to hold reserves on behalf of customers who issue stablecoins.

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Get Ready to Mark Your Calendar! Here’s What Happens If Payday Falls on a Bank Holiday

Patriot Software

Between 50% – 78% of workers live paycheck to paycheck. These employees (and likely all employees) count on receiving their wages on their scheduled pay date. But, bank holidays might pose a slight hiccup. What happens if payday falls on a bank holiday? What happens if payday falls on a bank holiday—or around it? Although […] READ MORE.

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2021 Tax Deadlines for Startups

BurklandAssociates

Here are 2021 tax deadlines for startups including U.S. Federal tax filing dates, and key tax dates for San Francisco, New York, and Seattle. You can estimate your tax preparation Read More. The post 2021 Tax Deadlines for Startups appeared first on Burkland.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Common Accounting Mistakes: Government Edition - Issue #6 Fixed Assets

SMBAccountant

Nearly all businesses have some kind of fixed assets. A fixed asset is something purchased or assembled that is intended for long-term use. It is not a liquid asset and cannot be converted quickly to cash. The useful life, or amount of time the asset should be useful to the company, must be greater than one year and be greater than the established corporate limit.

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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Digital dollars could make the leap from concept to reality, but there might be a few ways to get there. Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Her speech, entitled “Payment and the Pandemic,” included a section on digital currencies.

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Improving Workflow to Drive Profit and Growth

PANALITIX

RESOURCES / ARTICLES. Improving Workflow. to Drive Profit and Growth. We hear a lot about accountants evolving their businesses to offer high margin (advisory) services. This makes sense as technology innovation, increased competition and downward price pressure impact the industry. The fact is, however, that most accounting businesses will continue to offer compliance services because they are in demand and are the bedrock of an accounting business.

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Xero Accounting and Taxes for eCommerce Companies

FusionCPA

As your e-commerce business grows it becomes increasingly complicated and you may be looking at all-in-one solutions like Xero accounting and Xero taxes. Staying current and organized when it comes to your bookkeeping starts to demand more and more time. You and your CFO may be looking for ways to simplify your bookkeeping. On the other hand, you may need to take a more in-depth look into your numbers but don’t have the time to sort through all the data and don’t know where to start to create a

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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PPP Update: Owner Compensation, Payroll Costs, and Self-Rental Costs

Katz,Sapper&Miller

The U.S. Small Business Administration (SBA) officially opened the Paycheck Protection Program (PPP) forgiveness application portal to lenders on Aug. 10, 2020. Some banks are accepting applications and borrowers are beginning to prepare loan forgiveness applications. Recent guidance provides significant clarifications regarding owner-compensation limitations, payroll costs, and self-rental costs.

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Unlocking Brazil's Open Banking Potential

PYMNTS

In the journey to improve the payments experience, sometimes the best user experience (UX) is an unnoticeable one. Payment innovators are migrating toward making payments nearly invisible to the payer, with the goal of enabling the movement of funds so seamless and friction-free that the user is less able to identify that a transaction is even taking place.

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The Basics of Payroll Tax Withholding

Patriot Software

When you have employees, you are responsible for paying them—but not before taking out some money for payroll taxes. The IRS, Social Security Administration (SSA), and state and locality (if applicable) all require payroll tax withholding. So, what is payroll tax withholding? What do you need to do to stay compliant? What is payroll tax […] READ MORE.

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ACCOUNTING IN THE AGE OF AUTOMATION AND AI

AccountingDepartment

ACCOUNTING IN THE AGE OF AUTOMATION AND AI: EXPLORING POSSIBILITIES, OPPORTUNITIES & CHALLENGES IN ACCOUNTING TODAY.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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New International Regulations Provide Additional Guidance on Tax Reform

Katz,Sapper&Miller

The IRS recently issued a new set of final and proposed regulations impacting many international tax concepts introduced as part of the Tax Cuts and Jobs Act (TCJA). As a refresher, the TCJA enacted section 951A, often known as Global Intangible Low-Taxed Income (GILTI), and requires a U.S. shareholder of a Controlled Foreign Corporation (CFC) to include certain income earned by a CFC in taxable income annually.

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Taking AI Beyond Fraud Prevention And Into The Realm Of Smart Payments Routing

PYMNTS

Merchants, quite logically, want to keep transaction conversion rates high. And consumers want to pay with their preferred methods, across cards or digital wallets. Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed.

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5 Signs that You Have Outgrown QuickBooks Online for Accountants

FusionCPA

If you are the owner of your own business or if you are launching a startup of your own, you may be using QuickBooks for accountants to track invoices while managing your expenses. However, knowing the signs that you have outgrown QuickBooks Online - Intuit's solution suitable for small businesse s - to a solution more suitable for scaling. Or maybe you want to outsource accounting completely.

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Reclassifying Multiple Transactions at Once in QuickBooks

SchoolofBookkeeping

Once you record transactions, QuickBooks posts to accounts at the time it was recorded, but sometimes you may realize that it was posted to the wrong way. How do you update multiple transactions at once? Fortunately there are several ways. Read More. The post Reclassifying Multiple Transactions at Once in QuickBooks appeared first on schoolofbookkeeping.com - Ignite Your Practice!

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Provider Relief Funds Received Under the CARES Act Impose Audit Requirements

Katz,Sapper&Miller

In response to the global pandemic caused by COVID-19, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provided increased funding for existing programs and funded at least 20 new federal programs to help stimulate the economy.

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FLEETCOR Buys AFEX To Boost Cross-Border Payments

PYMNTS

FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated Foreign Exchange (AFEX) to help boost its own payments network, a press release says. AFEX works to implement cross-border solutions to aid small to medium-sized businesses (SMBs), helping them to grow internationally, the release says.

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What’s Your Biggest Accounting Takeaway from Your Time in the Virtual Workplace this Year?

AccountingDepartment

It was only just a few years ago when our teams sat among the huge main sessions (unthinkable these days!) of QuickBooks Connect and Scaling New Heights. We heard all about the future of cloud accounting, how machines would be taking over, and how we could best prepare for the future of automation and AI. Truth be told, we probably could’ve given many of those presentations as we were already 100% virtual.

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The Impact of the Pandemic on State and Local Tax Considerations for a Remote Workforce

KROST

The COVID-19 pandemic has completely changed what we once thought was normal. With social distancing becoming a way of life, millions of Americans are now working remotely. For many, there is no certainty as to when or if they will return to their workplaces. As the pandemic drags on, many businesses have allowed their employees to continue to work remotely.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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Why Your Database Is Your Most Powerful Asset

CTP

As the old saying goes, it takes money to make money. Sure, your small business owner clients can bootstrap their new business to a certain extent. However, when it’s time to scale and make substantial investments in property and/or personnel, in most cases, outside capital has to be acquired. And truth be told, many of […]. The post Why Your Database Is Your Most Powerful Asset appeared first on certifiedtaxcoach.

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Western Union Teams With Isabel Group To Offer Payments In Belgium

PYMNTS

The business division of Western Union will work with Isabel Group , a Belgian company providing multi-bank services through its B2B network Isabel 6, to grow connectivity in Belgium, according to a press release. Western Union Business Solutions will work with Isabel Group to expand access to Isabel's network, which offers online banking and fast payment services for organizations.

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It’s Not an Investment Club, It’s a Pyramid Scheme

FraudFiles

Have you seen these invitations to “join an investment club” on social media? They’re frauds. They’re scams. They’re not investment clubs. This is a typical pyramid scheme (also called Ponzi scheme ). Below is the scam being promoted by an attorney in Washington D.C. who has a pretty decent social media following. For weeks, she’s been posting screenshots like this: You see that she’s receiving money “from an external Bitcoin account.” Over

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KROST Client Lilit Davtyan of Phonexa Awarded CFO of the Year

KROST

We would like to extend our congratulations to Lilit Davtyan for receiving the title of Large Private Company CFO of the Year. She received this recognition during the 14 th Annual CFO Awards hosted by the Los Angeles Business Journal on September 23, 2020. Lilit is the CFO of one of our valued clients, Phonexa , an all-in-one platform for ROI-driven marketing.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.