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.

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Tax tax return CPA Start-ups 206

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

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Construction Sales Tax 200

GrowthForceBlog

MARCH 24, 2021

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

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accountant accounted Account 97

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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accountant Account accounted Start-ups 224

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.

Account

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 213

CPA accountant Account accounted 213

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.

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West Virginia Maryland Tax Montana 245

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

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.

CPA 161

CPA 161

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

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

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.

Account

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.

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payroll 94

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 130

CPA Tax 130

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

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

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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.

financial statements

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.

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bookkeeping accountant accounted Account 78

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

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.

accountant 70

accountant Account accounted bookkeeping services 70

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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105

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

Sales

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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72

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!

Legal 52

Legal Tax accounting and finance accounting firms 52

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 accountant Account 60

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

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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.

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.

Tax 52

Tax 52

ThomsonReuters

MARCH 25, 2021

QUESTION: Our company has 60 employees, all of whom are eligible for our fully insured medical plan and our health FSA. This year, 40 employees have enrolled in our medical plan and health FSA. Does our health FSA, which we administer in-house, qualify for the exclusion from the HIPAA privacy and security rules for self-administered health plans with fewer than 50 participants?

Tax 52

Tax accountant Account accounted 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.

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Technology accountant accounted Account 52

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.

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bookkeeping bookkeeping services quickbooks tax consultant 52

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.

LSLCPAs

MARCH 23, 2021

The “P” in CPA Should Stand for Proactive. What about the “C” and the “A”? Introduction Let’s start back a step. Do you even need a CPA, a Certified Public Accountant? Certified means that the person has completed a field of study that makes them specialists in their area. They […]. The post What to Expect Your CPA to Do for You & Your Business appeared first on LSL CPAs.

CPA 52

CPA cpas public accounting accountant 52

ThomsonReuters

MARCH 25, 2021

In re: Fidelity ERISA Fee Litigation, 2021 WL 836766 (1st Cir. 2021). Available at [link]. An appellate court has affirmed the dismissal of a class action lawsuit alleging that a retirement plan service provider breached its fiduciary duties when it charged some mutual funds access fees to be included on the provider’s investment platform. The provider, which serves as the recordkeeper and directed trustee for thousands of 401(k) plans, offers a “supermarket” of funds (the Big Menu) from which

Tax 52

Tax accountant Account accounted 52

CTP

MARCH 23, 2021

If you have a client who is an expat working in a foreign country, or if your client is a foreign national living in the U.S. but with income from a foreign country, they are required to file U.S. tax returns. On the upside, there is a good chance they are entitled to substantial tax […]. The post 4 Ways to Reduce Taxes on Foreign Earned Income appeared first on certifiedtaxcoach. 4 Ways to Reduce Taxes on Foreign Earned Income was first posted on March 23, 2021 at 9:00 am. ©2017 "

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Tax tax return 52

Generate Accounting

MARCH 22, 2021

The government has announced significant changes that will impact residential property investors. The Bright Line Test will be extended to ten years, a move that was widely anticipated. In a surprise move, the government will remove interest deductibility on residential rental property mortgages. Brightline Test Extension The existing bright line test will be extended from five years to ten years.

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income tax Government Maine Tax 52

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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.