TaxConnex
FEBRUARY 11, 2021
Candy, flowers, jewelry, dinners: The gifts may be the same, but Cupid’s arrow will fly in new online directions this year for Valentine’s Day presents. And it might land right on your company’s bottom line after sales and use tax obligations. Expected s pending on Valentine’s Day gifts this year dropped to an average $164.76 , down about $32 from a record high in 2020 , according to the National Retail Foundation.
TaxConnex
FEBRUARY 9, 2021
If you sell into the handful of states that don’t have nexus or don’t have a general sales tax, you might think you’re home free when it comes to obligations to remit sales tax. Maybe, and maybe not. Forty-five states and the District of Columbia have a statewide sales tax. Alaska, Delaware, Montana, New Hampshire and Oregon do not. ( Local jurisdictions in some of these, however, can charge sales tax based on state nexus thresholds and other criteria. ) Florida and Missouri have sales tax but h
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ThomsonReuters
FEBRUARY 10, 2021
The Consolidated Appropriations Act, 2021 (CAA; PL 116-260), contained numerous tax provisions. While many of those provisions impact tax years 2021 and later, some affect 2020 returns. Here’s a rundown of what you need to know about the CAA as you prepare 2020 business and individual tax returns. Individual Returns. Amendments to CARES Act Economic Impact Payment Rules.
RogerRossmeisl
FEBRUARY 7, 2021
When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re married or unmarried on December 31. More than one filing status may apply, and you can use the one that saves the most tax.
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.
BurklandAssociates
FEBRUARY 8, 2021
Businesses have come a long way when it comes to addressing environmental, social and governance (ESG) concerns. From being on the fringe a decade ago, virtually all larger firms now Read More. The post ESG: Coming Soon to Startups – and their CFOs appeared first on Burkland.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
FEBRUARY 12, 2021
Over the past year, most businesses have been forced to contend with multiple crises, including COVID-19, social unrest and financial challenges. The last thing you need right now is a fraud incident. But if your company is defrauded, make your fraud contingency plan one that can help mitigate the damage. Identifying likely scenarios No contingency plan can cover every possibility, but yours should be as wide-ranging as possible.
SchoolofBookkeeping
FEBRUARY 9, 2021
When QBOA was first introduced, Accounting Firms who signed up for it received a free “Your Books” subscription. The idea was the Accountants could use this to keep track of their own books and be able to recommend QBO to. Read More. The post QuickBooks Online Accountant’s “Your Books” Getting an Upgrade appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.
ThomsonReuters
FEBRUARY 11, 2021
QUESTION: Our company would like to assemble its senior staff for a four-day retreat at a facility near our headquarters to work on our long-term business plan and receive some training. This would not be travel “away from home” for most of them, and we understand that the usual travel exclusion rules will not apply to our local employees. But will we need to treat the value of lodging provided to those local employees as taxable income?
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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.
KROST
FEBRUARY 9, 2021
Pasadena, CA. – KROST CPAs and Consultants, the Los Angeles based firm, has announced a new Principal, Stacey R. Korman, CPA, MST. Stacey has extensive experience in assurance & advisory and accounting services and since joining the firm she has led the accounting and audit departments. As an AICPA certified Fundamental Client Accounting Advisor, Stacey leads KROST’s Client Accounting Service (CAS) division.
Withum
FEBRUARY 8, 2021
Marking anniversaries is a way to note changes or chart progress. Most people do not usually think about the significance of growth or changes while they are going through the process and an anniversary is one way of reflecting on it.
Patriot Software
FEBRUARY 10, 2021
Withholding taxes from employee wages is all part of Payroll 101. But, what happens when an employee is exempt from withholding? While rare, some of your employees might be exempt from taxes. And if an employee tells you that they are exempt, you need to know what to do. So, what does exempt mean, and […] READ MORE.
FraudFiles
FEBRUARY 12, 2021
Many of the cases I work currently focus on the tracing of funds through multiple bank, brokerage, and credit card accounts. I am typically working with tens of thousands of transactions at a time, so the sheer volume of the data could be overwhelming. Over the years, I have developed a proprietary system using software that allows me to capture, manage, and analyze large volumes of data.
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.
ThomsonReuters
FEBRUARY 11, 2021
DOL Fact Sheet: FY 2020 MHPAEA Enforcement; An Introduction: DOL MHPAEA FY 2020 Enforcement Fact Sheet (Jan. 15, 2021); Appendix: MHPAEA Violation Guidance Compendium. Fact Sheet. Introduction. Appendix. The DOL has issued a fact sheet summarizing 2020 mental health parity enforcement activity conducted by the DOL and (with respect to non-federal governmental group health plans) the Centers for Medicare & Medicaid Services (CMS).
Withum
FEBRUARY 10, 2021
Jeff Immelt, the former CEO of GE was interviewed in Sunday’s NY Times by David Gelles. Immelt’s book of his GE experiences was just published and he said things about managing that I would like to share here along with my comments. I did not read the book and am basing my comments on the interview which I believe has some good lessons any corporate or organization leader or entrepreneur could learn from.
LyfeAccounting
FEBRUARY 9, 2021
?. What are the tax benefits of S-Corps? Today, we’re going to answer that question and more! And here’s a quick note: We recently saved our client over $95,000 in taxes by making one small change – you guessed it right, helping her switch from an LLC to an S-Corp. And if you are still being taxed, let’s say as an LLC instead of an S-Corp, you may be giving uncle sam a bit more money than you have to.
RitaKeller
FEBRUARY 12, 2021
“Vision is the art of seeing what is invisible to others.” – Jonathan Swift. 2020 was a challenging year and you had to distance yourself from others. This Friday Flashback Post stresses visibility. Also, just because it is tax season, it doesn’t mean you are permitted to forget about visibility. During this time of year, CPAs are the heroes – you are working very hard to help others.
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.
ThomsonReuters
FEBRUARY 11, 2021
IRS Form 8994 (Employer Credit for Paid Family and Medical Leave) (Jan. 2021) and Instructions. Form 8994. Instructions. The IRS has issued an updated Form 8994, which is used by employers to figure the tax credit for providing paid family and medical leave (see our Checkpoint article ). To claim the credit, eligible employers must have a written program that pays at least 50% of wages to qualified employees for at least two weeks of annual paid family and medical leave.
SkagitCountyTaxServices
FEBRUARY 10, 2021
During the first Super Bowl that Tom Brady won (with the Patriots), these were some of the companies who advertised (hat tip to Jon Erlichman of Bloomberg): AOL Blockbuster Radio Shack Circuit City CompUSA Sears HotJobs Yahoo VoiceStream Wireless Gateway Computers. The year was 2002, and life looked a little different, eh? BUSINESS looked different.
RitaKeller
FEBRUARY 11, 2021
“Be spectacularly great at what you do. Wear your passion on your sleeve and hold your heart in the palm of your hand. And work hard. Really hard.” – Robin Sharma. If you have been keeping up with current trends in firm management, you probably know all too well that the annual performance review is on the verge of death. Many firms have already abandoned this old-school method of providing team members with information that could help advance their careers.
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.
ThomsonReuters
FEBRUARY 9, 2021
Background. Under the Families First Coronavirus Response Act (FFCRA), certain employers were required to provide paid leave to workers who were unable to work or telework due to circumstances related to COVID-19 (Qualified Paid Leave). FFCRA offsets the costs of providing Qualified Paid Leave, up to certain amounts, with refundable tax credits against employment taxes for qualified leave wages taken beginning April 1, 2020 and ending December 31, 2020.
Withum
FEBRUARY 10, 2021
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
Withum
FEBRUARY 12, 2021
ThomsonReuters
FEBRUARY 8, 2021
In the digital age, tax executives must shift from traditional tax roles in order to be ready for changes that are coming to the industry. Traditional tax roles often include planning to decrease tax liability and increase cash flow, traditional reporting to ensure compliance with current laws and regulations, and analyzing risk to manage exposure appropriately.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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