TaxConnex

MARCH 17, 2022

Economic nexus is now pretty much the law of the land for all states with a statewide sales tax. But what has been the impact on states? States – and their cities and towns that receive portions of their sales tax revenue – have scored big. In fact some would say they are seeing green! Revenues and now their localized payouts are reported to be way up, from New York’s Long Island and California’s Pacific coast to towns like Bentonville, AR, Calhoun, GA, and Kingsport, TN revenues from sales tax

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Sales E-commerce West Virginia Kansas 244

BurklandAssociates

MARCH 14, 2022

Some of my best tactical and strategic advice gleaned from two decades of working with startups in different stages and sectors. The post Advice for Founders from a Fractional CFO for Startups appeared first on Burkland.

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VetCPA

MARCH 16, 2022

As a small business owner, tax liability is the money you owe the government when your business generates income. With changing laws and gray areas regarding deductions, exemptions, and credits, it’s no wonder small business owners rank taxes at the top of the list of the most stress-inducing aspect of business ownership. To reduce that stress, taxes shouldn’t be something to focus on only at year’s end.

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Withum

MARCH 17, 2022

Let’s be honest. Most tax accountants would not be described as “hip” and many struggle to be considered “tech savvy”. Even so, some of their clients’ needs are forcing them into a new world surrounding the exchange of digital assets. . While many persons trading cryptocurrency or buying a non-fungible token (“NFT”) think they are just doing something new, fun, or just goofing around because they have cash to play with, what they don’t realize is that Uncle Sam is looking to collect their share.

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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

ThomsonReuters

MARCH 17, 2022

QUESTION: Our self-insured health plan would like to reduce required employee contributions for employees who do not use tobacco. Can the plan require employees who use tobacco to pay more than employees who do not use tobacco, even though both groups receive the same coverage? ANSWER: Under HIPAA’s health status nondiscrimination rules, a group health plan generally cannot require an employee to pay more for coverage than another similarly situated employee if the difference is based on a hea

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FraudFiles

MARCH 17, 2022

Today I have the honor of being the guest on one of the most popular divorce podcasts…. How Not to Suck at Divorce with Morgan Stogsdill and Andrea Rappaport. Episode 20 is all about Divorce Finances, Forensics & Fraud. I love how they describe me: Today’s episode is like divorce meets CSI as we welcome Tracy Coenen. You may have seen her on CNBC On the Money, CBS, NBC, and in the Wall Street Journal.

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Withum

MARCH 16, 2022

On March 11, 2022, the U.S. Government issued Executive Order 14068 prohibiting certain imports, exports and new investment with Russia. The following transactions by U.S. Persons are prohibited: the importation into the United States of Russian-origin fish and seafood (defined below), and preparations thereof, alcoholic beverages (defined below), and non-industrial diamonds; the exportation, reexportation, sale, or supply, directly or indirectly, of luxury goods (see below) as determined by the

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ThomsonReuters

MARCH 17, 2022

Rev. Proc. 2022-17 (Mar. 16, 2022). Available at [link]. The IRS has announced the 2022 inflation-adjusted Code § 280F “luxury automobile” limits on certain deductions that may be taken by taxpayers using passenger automobiles (including vans and trucks) in a trade or business. For purchased automobiles, the limits cap the taxpayer’s depreciation deduction.

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Going Concern

MARCH 14, 2022

Most people who leave public accounting have absolutely no intention of going back. These days public accounting would probably take you back in a heartbeat if you changed your mind. But if you feel like you could use another “drink from the firehose” to help propel your career forward and provide you a missing experience or an additional skill set, maybe you should consider the boomerang.

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SkagitCountyTaxServices

MARCH 17, 2022

While we all helplessly watch the war in Ukraine, we are also seeing the toll it’s extracting on our economy… and small businesses. Oil prices are skyrocketing and supply chain disruptions are becoming regular fare. The shock of the last two years hasn’t really worn off and new challenges are mounting as war affects the globe. And the greatest concern among small business owners right now?

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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 15, 2022

After years of attempting to make ends meet on a shoestring budget, the IRS stands to receive a $675 million funding increase from the Omnibus spending bill passed in the Senate last week. To stave off an impending government shutdown, federal lawmakers passed a $1.5 trillion funding bill that includes a $12.6 billion budget for the IRS. With the new funding, the IRS’s budget allocates $2.8 billion for taxpayer services, including the Office of Taxpayer Advocate, and increased hiring; $5.4 billi

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ThomsonReuters

MARCH 17, 2022

DOL Compliance Assistance Release No. 2022-01, 401(k) Plan Investments in “Cryptocurrencies” (Mar. 10, 2022). Available at [link]. The DOL has issued a compliance assistance release expressing “serious concerns” about the prudence of making cryptocurrency investments available to 401(k) plan participants and advising fiduciaries to use “extreme care” before they consider adding a cryptocurrency investment option.

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Going Concern

MARCH 14, 2022

It’s been a minute since we’ve talked about projected salaries for this year in public accounting, and compensation discussions will be happening for many of you in mere months. So today we have a new entrant in our continuing series of 2022 public accounting salary projections , and it is staffing and recruitment firm Century Group, which recently released its 2022 Salary Guide for accounting and finance.

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Patriot Software

MARCH 14, 2022

Here’s the situation: Your employee takes a little time off because they can’t physically work. What happens? In some cases, the employee must receive short-term disability insurance benefits. But, that all depends on whether you decide to offer it—or whether your state forces you to due to a state disability insurance program. Does yours?

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payroll 89

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

Withum

MARCH 14, 2022

Withum is excited to announce Bob Bamsey will join our Global Transfer Pricing Strategies Team as a Principal.??. With over fifteen years of transfer pricing experience, Bob will be advising clients on both transfer pricing and international tax matters, specializing in middle-market companies. He believes in collaborating on projects involving all types of intercompany activity, including tangible property, intangible property, services, and financial instruments.

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Minnesota Tax 98

ThomsonReuters

MARCH 17, 2022

HHS, Annual Civil Monetary Penalties Inflation Adjustment, 45 CFR Part 102, 87 Fed. Reg. 15100 (Mar. 17, 2022). Available at [link]. HHS has announced adjustments of civil monetary penalties for statutes within its jurisdiction. The latest amounts are based on a cost-of-living increase of 1.06222%. These adjustments are effective for penalties assessed on or after March 17, 2022, for violations occurring on or after November 2, 2015.

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Accounting Web

MARCH 17, 2022

Practice Excellence Managing Change Management Expectations.

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xendoo

MARCH 17, 2022

It can be overwhelming for small business owners to choose from all the ecommerce bookkeeping services out there. Many small businesses trust Xendoo with their financials, but we understand that choosing the best bookkeeping and accounting solution is a big decision. . When running an online store, there are many financial considerations and challenges, including payments, customer returns, shipping logistics, and inventory management.

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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

Withum

MARCH 17, 2022

A better take on Microsoft Teams management in today’s highly collaborative, but often overwhelming, hybrid workplace. We have arrived in the new digital era where we’re professionally challenged to take up things online rather than offline. Starting from kindergarteners to CEOs we’re all part of a routine where we need to attend video conferences and online meetings more often – such is the way of a hybrid workplace.

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ThomsonReuters

MARCH 17, 2022

Consolidated Appropriations Act, 2022, Pub. L. No. 117-103 (2022). Available at [link]. Congress has passed, and the President has signed, omnibus spending legislation that (among other things) temporarily exempts telehealth and other remote care services from certain restrictions affecting health savings account (HSA) eligibility. By way of background, tax-advantaged contributions generally cannot be made to an HSA unless the account holder is covered by a qualifying high-deductible health plan

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Going Concern

MARCH 15, 2022

The other day — OK it was actually 12 days ago — we got a random email in our editor inbox. This is not uncommon, said inbox serves as the garbage disposal into which reader complaints go. Just kidding, we love feedback. Really. The editor inbox is a hub for reader comments, advertising requests, story requests, complaints, butt emails consisting of long nonsensical rows of b’s and x’s, and occasionally some old guy complaining about how one F-bomb is too many and I need

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AccountingDepartment

MARCH 17, 2022

What's the draw of outsourcing? Some of the most important outsourced accounting benefits are known and enjoyed by businesses of all sizes. An off-site accounting staff provides CEOs, CFOs, and business owners access to experienced accounting professionals that can show them how to run their business more efficiently, grow the business, and even boost ROI and cash flow—typically for much less outlay than a traditional, on-site accounting team.

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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

SkagitCountyTaxServices

MARCH 12, 2022

Have you been able to keep your mind clear? Have you kept your time-limited output and attention focused on your Skagit County business? I hate to repeat myself, but this is so critical during these globally anxious days. Your business, your team – your FAMILY – is riding on how you manage your most precious resource: your attention. So as things continue to escalate in this war, I want to, once again, encourage you to reduce your time in the swirl of breaking news and around-the-clock social me

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Withum

MARCH 17, 2022

With the current real estate market heavily favored towards sellers, property owners are looking to cash in on the appreciated value of their real estate holdings. However, that lucrative sale may come with a hefty tax bill from Uncle Sam. . Fortunately, it is possible to defer a portion of the gain if the transaction is structured as an installment sale.

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GrowthForceBlog

MARCH 18, 2022

8 min read. We’ll cut to the chase: how CEOs manage time has a direct effect on the bottom line.

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AccountingDepartment

MARCH 15, 2022

As companies close their books from 2021 and start the new year, not every closing period goes smooth and sometimes can be done better. Whether you are closing a month, quarter, or year, closing the books is an essential activity that accounting professionals rarely look forward to.

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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

RitaKeller

MARCH 15, 2022

“The more you check in with your people the more love-filled your team will be, and so the more productivity, creativity, resilience, and collaboration you will get.” – Marcus Buckingham. When I read the above quote, it brought to mind the 12 Questions to measure employee engagement first introduced by Marcus Buckingham in his book, First Break All The Rules.

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cpa firm CPA 64

Withum

MARCH 14, 2022

The IRS issued proposed PFIC regulations on January 25, 2022 to clarify issues related to PFIC shares held by U.S. partnership and S-Corporation taxpayers. Historically, U.S. passthroughs were responsible for: Reporting ownership of a PFIC; Making elections pertaining to the PFIC; and Allocating income inclusions required by the PFIC regime. These obligations hinged on the fact that these entities were included in the definition of a “PFIC shareholder”.

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GrowthForceBlog

MARCH 16, 2022

6 min read. Before the pandemic, many business and nonprofit leaders viewed working from home as a sort of forbidden fruit, assuming that remote work from home might improve employee morale and satisfaction but significantly reduce productivity.

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Accounting Seed

MARCH 17, 2022

The days when small businesses never had to think in any currency but dollars are long gone. The 21st century economy is globalized and grows steadily more so. For example, with tools like the internet and wire transfers, it’s easy to do business with suppliers in Bangkok or hire remote workers from Ottawa to Cairo. Even if your business is localized in the U.S. you may still need to deal in foreign currency to pay overseas suppliers.

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