BurklandAssociates
DECEMBER 27, 2020
Burkland has a robust and growing FinTech practice led by Steve Lord out of our New York office. Burkland’s FinTech CFOs, controllers, accountants, and tax advisors are well-versed in the Read More. The post Recommended Resources for FinTech Startups appeared first on Burkland.
RogerRossmeisl
DECEMBER 28, 2020
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make qualifying for a medical expense tax deduction difficult for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes. Itemizers must meet a threshold For 2020, the medical expense deduction can only be claimed to the extent your unreimbursed costs exceed 7.5% of your adjusted
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RitaKeller
DECEMBER 30, 2020
“The woods are lovely, dark and deep. But I have promises to keep and miles to go before I sleep.” – Robert Frost. The following is a Flashback Post from 2017. I think it applies to every year-end. How many times have you said those two words, “next year”? Maybe to your kids, “You’ll be old enough to do that next year.”. Maybe to your spouse, “Honey, we’ll take that special vacation trip next year.”.
TaxConnex
DECEMBER 31, 2020
Your employees (like all of us) have more than enough headaches on all fronts headed into the new year. Back in April employees surveyed said that the pandemic is the most stressful time of their entire career. Now more than ever you owe it to your people – and to your business – to ease their problems when you can. If you handle sales tax compliance in house, you’ve got your employees handling an unbelievably complex business function – and with 65% of businesses planning to grow across state l
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
JANUARY 1, 2021
The consumers who shopped for anything from groceries to sporting goods to cars in December of 2019 are completely different from the ones who shop today. Not only have they been stung by an unprecedented pandemic and consequential lockdown, they've been made aware of – and have started using – different ways to conduct their shopping journeys, pay for their goods and even take possession of them.
RogerRossmeisl
DECEMBER 31, 2020
The recent stimulus legislation, the Consolidated Appropriations Act of 2021, (CAA 2021) included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. Here are the details. In general, the ordinary and necessary food and beverage expenses of operating your business are deductible.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
DECEMBER 29, 2020
An exemption is an exception that eliminates the need to pay sales tax. The presumption is that all sales of tangible personal property are taxable unless specifically enumerated. The purchaser has the responsibility for determining whether a sale is exempt from tax. If the purchaser does not submit a valid exemption certificate to the business, the business must assess and collect the sales tax from the purchaser.
PYMNTS
DECEMBER 28, 2020
Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years. According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a di
RogerRossmeisl
DECEMBER 28, 2020
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important to avoid wash sales if selling stock by year-end. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back within the 30-day period before or after the sale date, the loss can’t be claimed for tax purposes.
Patriot Software
DECEMBER 28, 2020
Attention Oregon employers! Specifically, attention employers in Eugene, Oregon. A new type of payroll tax is coming your way in 2021. Learn all about the Eugene Community Safety Payroll tax and whether or not you need to withhold and remit it to the city. What is the Eugene Community Safety Payroll Tax? The Eugene Community […] READ MORE.
Advertiser: Paycor
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Withum
DECEMBER 30, 2020
Starting the year right means getting things organized, in order and getting started on the right foot. Here is a checklist of some things to do.
PYMNTS
JANUARY 1, 2021
If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers. Starting with some of the most recent changes — and a sign of what’s to come — earlier in the month, the European Commission offered up its initial draft o
RogerRossmeisl
DECEMBER 28, 2020
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you can cash in on depreciation tax savers such as §179 for business property. The election provides a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time.
SkagitCountyTaxServices
DECEMBER 30, 2020
It’s going to take us many weeks to digest everything in this massive omnibus of a relief bill that the President signed on Sunday night. And with year-end barrelling at us (2021 is on FRIDAY), it’s unlikely that we will be able to make substantive action on your behalf THIS WEEK. That doesn’t mean that we aren’t already diving into the thing — we are — but just that we are prioritizing year-end matters for our clients this week.
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
PYMNTS
DECEMBER 27, 2020
The highly competitive streaming-audio industry could be starting the New Year with some consolidation, a new report suggests. Jack Dorsey — the billionaire CEO of Square and Twitter — is said to be interested in buying TIDAL , the audio service owned by billionaire music legend Jay-Z. Unnamed sources told Bloomberg that the outspoken Dorsey has been seen with Jay-Z and his singer-wife Beyonce recently, and is reportedly interested in adding a music feature to payment platform Square’s growin
RogerRossmeisl
DECEMBER 28, 2020
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, a decision to maximize your 401(k) Plan can be a smart way to build a substantial sum of money. If you’re not already contributing the maximum allowed, consider increasing your contribution rate. Because of tax-deferred compounding (tax-free in the case of Roth accounts), boosting contributions can have a major impact on the size of your nest e
LyfeAccounting
DECEMBER 31, 2020
?. So you have a business? Paying yourself and employees? Or have plans on doing so? Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes.
Speaker: Jamie Eagan
As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of
FraudFiles
DECEMBER 30, 2020
Fraud is big business. Companies are at the greatest risk of fraud from their employees, since the employees have easy access to information and assets. We don’t know for sure how much fraud happens, but experts estimate that companies lose 5% of their revenues to employee fraud. At a company with annual sales of $100 million, that means that $5 million is walking out the door each year.
PYMNTS
DECEMBER 29, 2020
Amazon is reporting a record-breaking holiday shopping season that saw more than 1.5 billion toys, electronics and household goods delivered amid the global COVID-19 pandemic. “Amazonians around the world have truly shown what it means to be customer-centric and support our communities this year,” Jeff Wilke , CEO of worldwide consumer at Amazon, said in a press release on Tuesday (Dec. 29). .
RogerRossmeisl
DECEMBER 28, 2020
Americans generally feel generous during the holidays and usually are eager to donate to worthy charitable causes. At the same time, they’re so busy and rushed with holiday activities they don’t necessarily vet charities that ask for support. Unfortunately, the holidays are the season for charity fraud. Fraud perpetrators masquerading as non-profits usually find easy pickings.
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FraudFiles
DECEMBER 28, 2020
When a company discovers an internal fraud, it’s not uncommon for owners and management to look for a party to blame. After all, someone should have known that a fraud was in-progress, right? Often, the blame is cast in the direction of the auditors. The auditors are an easy target. Not only do they usually have professional liability insurance policies to fall back on, the auditors initially seem like the logical culprit.
PYMNTS
DECEMBER 30, 2020
A lawsuit filed by the Securities and Exchange Commission (SEC) against digital payments firm Ripple is heading to virtual court on Feb. 22, according to legal documents filed in the U.S. District Court of the Southern District of New York. Legal counsel for those named in the suit — Ripple Labs, CEO Bradley Garlinghouse and Executive Chairman and Co-founder Christian Larsen — were called to appear in an online pretrial conference with Judge Analisa Torres. .
RogerRossmeisl
DECEMBER 28, 2020
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on deductions Cars are subject to more restrictive tax depreciation rules than those that apply to other depreciable assets. Under so-called “luxury auto” rules, depreciation deductions are artificially “capped.” So is the alternative §179 deduction that you can claim if you elect to expense (write-off in the year placed in service) all or part of the cost of a busine
Withum
DECEMBER 27, 2020
Advertiser: Paycor
Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.
RitaKeller
DECEMBER 28, 2020
“It takes courage to grow up and become who you really are.” – E.E. Cummings. The military takes a young, enthusiastic person and turns them into highly-skilled soldiers, sailors, marines, etc. These very young people have huge, life or death responsibilities. (Haven’t you seen the documentaries about the flight deck crew on an aircraft carrier?).
PYMNTS
DECEMBER 28, 2020
As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. . “Already, fraudsters have offered, for a fee, to provide potential victims with the vaccine sooner than permitted under the applicable vaccine distribution plan,” FinCEN said in a statement on Monday (Dec. 28).
LyfeAccounting
DECEMBER 30, 2020
?. Are you tired of paying taxes? Yeah me, too. Taxes stink. But recently, I heard that some people pay very little in taxes. In fact, the president’s tax returns show he paid just $750 in federal income taxes in 2016 and 2017. And nearly nothing for many years before that, according to reports from the New York Times. Man, that sounds too good to be true.
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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.
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