Sat.Nov 07, 2020 - Fri.Nov 13, 2020

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3-Step Approach to Annual Financial Planning for Startups

BurklandAssociates

In this piece, Debbie Rosler, CFO for startups at Burkland, lays out a simple approach for startups to set their annual financial plan. It’s that time of year again… leaves Read More. The post 3-Step Approach to Annual Financial Planning for Startups appeared first on Burkland.

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Complexities of Sales Tax: Leasing

TaxConnex

Sales tax is complicated no matter the industry you are in. But the leasing industry brings out even more complicated nuances depending on the type of lease, support activities and even the leased item itself. Some sales tax concepts for the leasing industry are quite simple while others are more complicated. For example, a lessor by definition owns property and leases the use of said property to a lessee.

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Per-Diem Rates for Post-9/30/20 Business Travel

RogerRossmeisl

IRS issued Notice 2020-71 which contains the special per-diem rates for taxpayers to use, after 9/30/2020, to substantiate ordinary and necessary business travel expenses. Background An employer may pay a per-diem amount to an employee on business-travel status instead of reimbursing actual substantiated expenses for away-from-home lodging, meal and incidental expenses (M&IE).

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Zest AI CEO: Artificial Intelligence Is Reshaping Lending and Credit

PYMNTS

The use of artificial intelligence (AI) and machine learning (ML) isn’t some futuristic idea. It’s here now and being used to make good banks better — whether to eliminate discrimination in lending decisions, add stability to existing screening systems or drive loan growth and profits. “It’s not an idea, it’s not a postulate. It is a fact — and we can prove it,” Zest AI CEO Mike de Vere told PYMNTS in a recent interview.

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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.

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What Does Biden’s Win Mean for Tax Policy?

Withum

Tax 130
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Complexities of Sales Tax: Technology

TaxConnex

Technology companies, and specifically software companies, have always had challenges related to managing sales tax. Understanding where they have a physical presence as well as the varying taxability rules associated with their products and services was complex. But with the proliferation of Software-as-a-Service (SaaS) as a delivery mechanism and Wayfair, the sales tax landscape has become exponentially more complex.

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Payments Canada Partners With Mastercard’s Vocalink To Advance Real-Time Rail

PYMNTS

Payments Canada is teaming up with Mastercard’s Vocalink for clearing and settlement for the country’s new real-time payments system, the Real-Time Rail (RTR). Delegated by the Canadian Government, Payments Canada is responsible for the clearing and settlement infrastructure, processes and rules. The RTR is the foundation of Payments Canada’s plans to modernize the payments infrastructure in the country. .

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Seymour G. Siegel

Withum

Sy passed away last week. We met when we were sworn into the National Guard in 1965, and became friends during basic and then advanced training. We later became partners and remained friends after I left to form a smaller less hectic practice. And now we cannot share any more stories, memories, updates and talks looking forward to our more relaxed futures.

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New Text Phishing Scam

CapataCPA

New Text Phishing Scam The Security Summit (a partnership of the IRS, private sector, and state tax agencies) has released a warning to taxpayers about a new COVID-related scam that deceives people into providing their bank information. The scam is generated by a text message claiming the person has received the $1,200 Economic Impact Payment (EIP).

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IRS Expands Enforcement Focus on Abusive Micro-Captive Insurance Schemes

RogerRossmeisl

In IR 2020-226, the Internal Revenue Service, on 10/1/2020, encouraged taxpayers to consult an independent tax advisor if they participated in a micro-captive insurance transaction. The IRS encourages any taxpayer who has continued to engage in an abusive micro-captive insurance transaction to not anticipate being able to settle its transaction with the IRS or Chief Counsel on terms more favorable than previously announced settlement offers and that any potential future settlement initiative tha

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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i2c President Says Blockchain Will Unlock Cryptocurrency

PYMNTS

Cryptos are having a moment. Scan the headlines over the past few weeks and cryptos, well beyond the marquee bitcoin, are making inroads into mainstream consumer and business activities. PayPal is opening its network to allow consumers to shop using cryptocurrency. Square bought $50 million of bitcoin. J.P. Morgan said late in the month that it has gone live with JPM Coin.

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IRS Intends to Greenlight Full State Income Tax Deduction for Pass-Throughs

Withum

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Are you an M.I.A. Business Owner?

IgniteSpot

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Is Your Business Inadvertently Paying a Shell Company?

RogerRossmeisl

Not all shell companies are dishonest. Despite their often-sinister reputation, these paper-only companies may be used legitimately to hold another business’s assets. Or they may be the “empty container” left after a company downsizes or is acquired. That said, some fraud perpetrators use shell companies to embezzle funds, evade taxes, dodge debts and commit other illegal acts.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Bitcoin Daily: Bitcoin ATM Installations Jump By 85 Pct; Argentinian Lawmaker To Introduce Crypto Bill

PYMNTS

The count of bitcoin ATMs has jumped this year, rising by 85 percent to just under 11,800, CoinDesk reported. The border-free network of bitcoin allows for money to be easily moved in any amount internationally, according to the outlet, which noted that the rise in bitcoin ATMs shows that the digital currency is becoming more and more popular as a method of payment.

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2020 Year-End Tax Planning Checklist

Withum

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Therapy Group Quadruples Revenue After (Finally) Finding a Suitable Accountant

IgniteSpot

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Mutual Fund Buy-Sell Tax Pitfalls

RogerRossmeisl

If you invest in mutual funds, be aware of some potential mutual fund buy-sell tax pitfalls that can surprise the unwary. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund investment. Every time you write a check against your mutual fund account, you’ve made a partial sale of your interest in the fund.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Salesforce Rolls Out Revenue Cloud To Simplify B2B Functions

PYMNTS

Salesforce has rolled out its new Revenue Cloud product, which will work to simplify B2B purchasing for customers, according to a press release. Revenue Cloud, according to the release, will work to bring together configure, price, quote (CPQ) and billing, partner relationships and B2B commerce capabilities in order to consolidate services and streamline the process overall.

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2020 Year-End Planning: Is there anything that can be done to salvage this dreadful year?

Withum

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New Coding Changes May Give Physicians a Raise

Katz,Sapper&Miller

Every year there are changes to current procedural terminology (CPT) coding that are generally minor text revisions, clarifications, code additions, and code deletions. While important for accurate coding, these annual changes don’t typically have a significant impact on provider compensation.

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21st Century Forensic Accounting

RogerRossmeisl

Forensic accountants are engaged for a wide variety of assignments, among them investigating fraud, auditing internal controls and quantifying damages associated with legal disputes. All of these require attention to detail and a diverse set of skills including mathematical, technological, legal and investigative. But the accounting landscape and client needs are constantly changing.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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PPP Fraud Reveals New Need For Banks To Use Geolocation Data

PYMNTS

Government-benefits fraud runs at about 10 percent even during normal times, but now that the pandemic has exponentially increased U.S. federal stimulus spending, the level of theft is on the rise, too. . “I think bad actors and fraudsters always follow the money,” Elizabeth Cronan , vice president of government relations at geolocation-based fraud prevention firm GeoGuard recently told PYMNTS. .

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Real Estate Industry Outlook: A Case Study of New York City

Withum

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Navigate the Complex Issues in Manufacturing & Distribution with KROST’s Industry Experts

KROST

KROST has extensive experience in the manufacturing and distribution industry. Our team of experts has experience servicing clients in various sectors such as aerospace and defense, automotive and transportation, consumer products, food and beverage, industrial parts, wholesale distribution, and more. Manufacturing and distribution clients rely on our suite of services, specifically catered to their needs.

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Bookkeeping vs Accounting: What’s the Difference? How Should You Choose?

LyfeAccounting

?. Imagine you have a 20 dollar bill, and that money is earned by providing a service and as a result, the business has the freedom to spend it, invest it or save it. Regardless of what happens to that 20 dollars next, these transactions have started bookkeeping and accounting processes. But a lot of people are still confused when it comes to bookkeeping vs accounting.

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AP Automation: The Competitive Advantage Your Business Needs

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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COVID-19 Breathes New Life Into QR Codes

PYMNTS

Up until recently, QR might have been an acronym for: Quaint Relic. In the United States, anyway. The QR code is shorthand for the “quick response” barcode that was first designed in 1994, and which initially surfaced in Japan. QR codes had made some inroads here and there, and yet did not become the go-to repositories of data and information – scannable, naturally, across mobile devices – that some had predicted.

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Veterans Day 2020

Withum

Veterans Day is celebrated tomorrow, but should be celebrated every day. The men and women that served and are serving in our armed forces put themselves in harm’s way to assure we maintain the freedom, liberty and justice we too many times take for granted.

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2020 Year-End Ideas for Your Business

FusionCPA

The year 2020 will go down in history as a landmark year full of challenges, disappointments, and heartbreaks. People experienced change on a global level that has not been experienced for many years. Things changed so quickly that most could not fully acclimate to the changes but had to take them as they came. These changes have been seen in many sectors, especially in business.

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Year-end Tax Planning

CapataCPA

Year-end Tax Planning With the year coming to a close, now is an important time to be thinking about ways to save on taxes for 2020 and possibly 2021. Year-end tax planning and projections are especially valuable this year as new guidance was released on the Tax Cuts and Jobs Act (TCJA) as well as the. The post Year-end Tax Planning appeared first on CPA firm in Orange County, CA | CAPATA.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.