RogerRossmeisl

MARCH 25, 2021

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. Here are some tax rules and considerations involved in operating with that entity. The pass-through deduction To the extent your business generates qualified business income (QBI), you’re eligible to claim the pass-through or QBI deduction, subject to limitations.

Tax 213

Tax tax return CPA Start-ups 213

TaxConnex

MARCH 25, 2021

A contractor is generally defined as someone who provides improvements to real property on a lump sum contract basis. From a sales and use tax perspective, there isn’t much of a difference between a subcontractor and a prime or general contractor. At first glance, the sales and use tax requirements for a contractor seem quite simple. Contractors are typically considered the end-user/consumer of all tangible personal property purchased and used by them in conjunction with the performance of a con

Construction 244

Construction Sales Tax 244

GrowthForceBlog

MARCH 24, 2021

10 min read. Fundraising is already tough. Fundraising during economic uncertainty? Even tougher.

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accountant accounted Account 96

BuildYourFirm

MARCH 24, 2021

Why Accountants should Fully Optimize their Google My Business Listing. Every accountant can use some additional visibility to drive new business, and your Google My Business listing is the perfect place to start optimizing your local internet presence. Also known as your Business Profile, this highly-authoritative business listing is the internet gateway to your accounting firm, highlighting your services, staff, reviews, and NAP (name, address, phone) information.

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Account accounted accountant Start-ups 224

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.

Finance

RogerRossmeisl

MARCH 25, 2021

If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. The SECURE Act, which was signed into law in late 2019, made a number of changes of interest to those nearing retirement.

CPA 220

CPA accountant accounted Account 220

TaxConnex

MARCH 23, 2021

Companies that sell digital products in the U.S. should know about a relatively new kind of ta x – and tax obligation. Maryland has a n ew tax on digital advertising and has extended the state ’ s existing sales and use tax to the sale of such digital goods as digital code, streaming, music, ring tones, e-books and audio books, movies, online newspapers and cable, satellite and pay-per-view television programming.

West Virginia 246

West Virginia Maryland Tax Montana 246

Withum

MARCH 22, 2021

Tax 124

Tax 124

RogerRossmeisl

MARCH 24, 2021

Fraud perpetrators are constantly altering their methods to evade detection. Nimble cybercriminals, for example, are why IT security companies update their software so frequently. The use of deepfakes (a word derived from “deep learning” and “fake”) is one of the latest threats to emerge. Deepfakes are enabled by artificial intelligence (AI) and they’re something your company needs to have on its radar because if you haven’t seen a deepfake yet, you will.

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CPA 166

ThomsonReuters

MARCH 26, 2021

Now that tax season is in full swing for many practitioners, you may find yourself questioning if this is the right time to break off and explore starting your own CPA firm. In this next chapter of Small Talk with Heather Walker , I am once again joined by Linda Forde, CPA and owner of The Forde Firm, and Nina Tross, Executive Director of the National Society of Tax Professionals (NSTP).

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cpa firm CPA Non-Profits Start-ups 98

5 Minute Bookkeeping

MARCH 25, 2021

When you’ve got a problem in QuickBooks Online, the ‘easy fix’ is making a journal entry…right? As an accounting professional, you may have been trained to use journal entries liberally (I know I was), but in QBO there are some situations where journal entries help, and some where they can really mess up the books ! The key is knowing which is which and what goes on inside QBO when you create journal entries to make corrections.

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quickbooks accounts payable bookkeeping payroll 98

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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.

Technology

Withum

MARCH 24, 2021

This is taken from the introduction to the file with reprints of 168 of my non-business blogs.

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RogerRossmeisl

MARCH 23, 2021

The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic. Among the many initiatives are direct payments that will be made to eligible individuals. And parents under certain income thresholds will also receive additional payments in the coming months through a greatly revised Child Tax Credit.

CPA 131

CPA Tax 131

CapataCPA

MARCH 24, 2021

Update- California PPP Tax Conformity Although it is no secret that California has yet to release information on whether or not it will partially conform state tax code to the current federal tax rules regarding forgiven Paycheck Protection Program (PPP) loans, CalCPA has shared why the delay is taking place. California’s governor and legislation were ready to legislatively conform to federal PPP.

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California Tax cpa firm CPA 98

AccountingDepartment

MARCH 26, 2021

During a recent Vistage Executive Summit, a few points stood out to us when it came to positioning your business to stay ahead of the curve in 2021, and years to come. Alex Chausovsky of ITR Economics gave us the breakdown of some of these important points below.

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accountant accounted Account 94

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.

payroll

Patriot Software

MARCH 22, 2021

Let’s face it: Health insurance is expensive. The average employer health insurance premium contribution—per employee—is nearly $6,000 (single) and nearly $15,000 (family) annually. It’s natural to weigh your options, but skipping the benefit altogether? Nearly 90% of employees value health insurance. And with 69% of private industry workers having access to medical benefits, you could […] READ MORE.

payroll 94

payroll 94

Withum

MARCH 23, 2021

New Jersey 85

New Jersey Tax 85

GrowthForceBlog

MARCH 20, 2021

5 min read. As your business grows, you inevitably have more fires to put out, issues to deal with. One of the worst is when you have cash flow or other financial problems. There’s a few reasons why that happens, but one thing we see so very often is the unfortunate effect of having an inefficient back office.

bookkeeping 77

bookkeeping accountant accounted Account 77

AccountingDepartment

MARCH 23, 2021

If you own or manage a business, you have to decide whether it is better to outsource your accounting projects or handle them in-house. Though handling accounting projects in-house with your own employees certainly has its benefits, there are more advantages to outsourcing the work to a group of accounting specialists. Chief amongst the reasons to outsource is the team approach implemented by an entire group of professional accounting specialists.

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Account accounted accountant bookkeeping services 69

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.

Finance

inDinero Tax Tips

MARCH 26, 2021

April 15, Tax Day in the U.S., is just around the bend. So, I thought you might need a reminder about how The Coronavirus Aid, Relief, and Economic Security (CARES) Act changed the charitable deduction rules. Don’t worry! You’ll probably like these changes. Changes for 2020 charitable deduction rules that won’t last forever. The CARES Act changed charitable deductions in 2020, anticipating a decline in revenues for philanthropic organizations.

Healthcare 52

Healthcare Tax Legal financial accounting 52

Withum

MARCH 22, 2021

I organized many of my Non Business blogs into a file that I could send you.should you want it. These have been posted since February 2012 and cover the following topics with the number of blogs in that section.

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85

GrowthForceBlog

MARCH 26, 2021

8 min read. “ Who are my most profitable clients? “Am I pricing my jobs right? ” “ Why am I losing money on some jobs?”. Sound familiar? If you don’t know the answer to those questions, it’s important you take time to really understand job costing.

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71

AccountingDepartment

MARCH 25, 2021

QuickBooks isn’t the latest and greatest accounting software yet it is certainly useful. Countless businesses use QuickBooks at their offices, meaning job-seekers and those looking to advance their career should have in-depth knowledge of this important computing tool. Take full advantage of QuickBooks and you will find it helps your business in several important ways.

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quickbooks accounting software accounted Account 60

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.

CPA

xendoo

MARCH 26, 2021

Bookkeepers and bookkeeping services can be a small business owner’s best investment. Bookkeepers save small businesses money by keeping their books in order and providing accurate financial reports – giving the small business owner more time to do what they do best. . Bookkeepers handle a wide range of duties, including recording financial transactions, maintaining accurate records, and balancing the books of a business.

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bookkeeping software bookkeeping NetSuite quickbooks 52

Withum

MARCH 24, 2021

75

75

FraudFiles

MARCH 26, 2021

Are you more likely to be selected by the IRS for a tax audit if you file an extension for your income tax return?

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audit Tax income tax tax return 52

AccountingDepartment

MARCH 20, 2021

A notable takeaway from the Vistage Executive Summit in Boise, ID comes from guest speaker Joe Galvin, Chief Research Officer of Vistage Worldwide, Inc. Joe discussed how technology is one of the top areas CEOs will look towards for investments throughout 2021. The TOP Strategy provides some guidance to how these investments will be made.

Technology 52

Technology accountant accounted Account 52

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

Spend Management

xendoo

MARCH 26, 2021

With Xendoo’s bookkeeping services you can easily find the plan you need and work with our expert financial team to gain insight and make smart business decisions. Xendoo doesn’t use its own proprietary software, but instead, we partner with Quickbooks Online and Xero, so your books are yours throughout any changes and transitions. Your books are up to date with your dedicated financial team, financial insight is at your fingertips, and you are always tax-ready.

bookkeeping 52

bookkeeping bookkeeping services quickbooks tax consultant 52

Withum

MARCH 26, 2021

Real Estate 69

Real Estate 69

LyfeAccounting

MARCH 25, 2021

As an accounting firm, we get asked all the time. “What should my business entity be? I heard that I should have an LLC.” Well, the truth is, sometimes you need an LLC, and guys, sometimes you don’t. So in this post, we want to set the record straight, eliminate the confusion, and breakdown who needs an LLC and who doesn’t. Let’s get into it!

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Legal Tax accounting and finance accounting firms 52

CTP

MARCH 25, 2021

Roth IRAs are owned by 19 percent of all U.S. households. If you are younger than age 50, you can contribute a maximum of $6,000 per year. If you are age 50 or older, you can contribute up to $7,000 per year. Advantages of a Roth IRA: No required minimum distributions Tax-free withdrawals Can contribute […]. The post Tax Free Growth with a Roth IRA appeared first on certifiedtaxcoach.

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Tax 52

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