Sat.Oct 02, 2021 - Fri.Oct 08, 2021

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Monthly State Sales and Use Tax Update

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Developing updates. There are currently five states with no state-level sales tax. Might that be changing? Take a look north. Alaska has long heard rumblings of a statewide sales tax. First came the state’s Remote Seller Sales Tax Commission of municipalities banding together to tax sales.

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Actively Look for Fraud and Reduce Financial Losses

RogerRossmeisl

The Association of Certified Fraud Examiners’ (ACFE’s) Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse provides ample evidence that some fraud detection methods are better than others. In general, passive methods, such as accidental discovery or notification by police, coincide with longer-running schemes and higher financial costs.

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Everybody Wins When AI & People Collaborate in the Workplace

BurklandAssociates

This is a joint article by Jeff Burkland, founder of Burkland Associates and Abhinav Agrawal, Co-founder & CEO of Rocket. It was originally published on Medium. The robots are coming! Read More. The post Everybody Wins When AI & People Collaborate in the Workplace appeared first on Burkland.

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Designing Your Firm… So It’s Not Reliant On You

PANALITIX

RESOURCES / ARTICLES. Designing Your Firm… so it’s not reliant on you. Being a slave to your accounting business is not a desirable situation and causes stress on you and your colleagues. Building a business which can scale and is not dependent on the owner(s) is a matter of Organizational Design. For tips on building a scalable business, read on. .

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Planning Your Restaurants Path to Profitability

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.

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Excise Tax versus Sales Tax

TaxConnex

Soon after you start dealing with states’ sales tax, you’re going to also run into another term: excise tax. What is excise tax? And is it different from sales tax? A different kind of tax pie. Excise tax – which in America dates to the nation’s earliest days – is levied on certain goods, products or services at the time of purchase. Your business is responsible for collecting excise taxes and sending them to the proper authorities but, unlike sales tax, the cost of the excise tax is usually pas

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Key Q4 2021 Tax Deadlines for Businesses

RogerRossmeisl

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in federally declared disaster areas.

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The Power of Diversity of Thought

RLLeaders

We live in a world of constant disruption. It interrupts and destabilizes our systems and norms, impacting individuals, organizations, and indeed, all of our society. We face cultural, environmental, and technological disruptions on a daily basis and rarely do we recognize them until they’re on our doorstep. Sometimes this is because people are willfully ignorant, trying to carry on as if the world around us isn’t rapidly evolving.

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Your Guide to Navigating Through Personal Use of Company Car Rules

Patriot Software

Do your employees use company-owned or leased vehicles for personal reasons? If so, you need to know how to handle reporting personal use of company car for wage and tax purposes. Read on to learn: What is personal use of company car? How to calculate personal use of company vehicle value How to report personal […] READ MORE.

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Why an Outsourced Accounting Department Makes Sense

AccountingDepartment

Does an outsourced accounting service make sense? You bet it does. That is why outsourced accounting services are a growing trend among companies today. More and more businesses are allowing outsourced services to take care of their accounting functions. They are reaping all of the benefits that an outsourced accounting firm has to offer. Here is a list of reasons why businesses are choosing to outsource their accounting tasks.

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Triple Bottom Line: What Is It & Why Is It Important for My Business?

GrowthForceBlog

5 min read. In today’s world, sustainability is on the minds of many business owners and is often a stated goal. Yet, it’s quite difficult to measure the degree to which an organization is being sustainable.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Skagit County SMB Owners – Don’t Panic About The Business Supply Chains

SkagitCountyTaxServices

Remember when the monster cargo ship Ever Given jammed the Suez Canal? After the Given had been stuck just five days, almost 400 other freighters were backed up waiting to pass through the Canal. Experts began predicting temporary shortages of everything from exercise bikes to coffee, cheese to semiconductors. For once, they were right — and not just because of one stuck ship.

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Employer Student Loan Repayment: 2021’s Hottest New Benefit Is Here to Stay Tax-free (for a While)

Patriot Software

If you’re looking for a new benefit to offer employees, you might consider employer student loan repayment. The benefit itself isn’t new, but it got a tax-exemption makeover thanks to the CARES Act and Consolidated Appropriations Act. The result? An up-and-coming employee benefit hitting businesses nationwide. Here’s what you need to know about the employer […] READ MORE.

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Common Questions About Switching to Outsourced Accounting

AccountingDepartment

Outsourced accounting can pose many questions for a business owner that is considering making the switch, or just simply trying to learn more about the service as a whole. AccountingDepartment.com is the leader in outsourced accounting a bookkeeping services, and we have compiled some of the common questions asked when it comes to making the switch from in-person to outsourced accounting services.

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CalCPA BUZZ: Pass-through Entity Elective Tax Update

CalCPA

According to the FTB, PTE forms are in the development phase for qualified entities to make their PTE elective tax payments, and for. The post CalCPA BUZZ: Pass-through Entity Elective Tax Update appeared first on Hot Topics.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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When They Walk In The Door

RitaKeller

“If you want to ignite the spark, focus on them from the moment they walk in the door.” – Bruce Tulgan. I have often talked about young, newly graduated talent walking into the door, for the first time, at their new job in a CPA firm. My story stresses the fact that from a baby’s first step they have heard applause for each accomplishment through their growing-up years.

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Creating a Legacy of Memories and Values

Withum

People change but their memories don’t but can get hazy or fuzzy, or sweeter and fonder or could vanish. Perspective also adds to enjoyment of memories and past successes, so does preservation. Our memories are not conserved like those on Keats’ Grecian Urn but they can be passed on in a memo, letter, booklet or video orchestrated by you. This Sunday an expert on helping people preserve their memories will be speaking at a free Zoom program I organized and am inviting you to attend.

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Eliminate the ‘SALT’ Deduction Cap?

LSLCPAs

What does SALT stand for, and what are the Pros and Cons? SALT is an acronym for State and Local Taxes. The current cap on deductions for state and local taxes is $10,000 as enacted in the 2017 Tax Cuts and Jobs Act (TCJA). Since 2017 (and through 2025), as the current law exists, only. The post Eliminate the ‘SALT’ Deduction Cap? appeared first on LSL CPAs.

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3 Keys to Working Smarter, Not Harder in Business

xendoo

Work Smarter, Not Harder. At SmartScout , we built our business around the idea of working “smarter”. Easy enough to say. What steps can small business owners take to work smarter? Glad you asked. The three keys to working smarter, not harder, in business are education, technology, and delegation. In this blog post, we will show you how you can use these keys to expand your knowledge, streamline your workflow, and delegate work to your team to grow their skills. . 1.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Best Accounting Practices for General Contractors

Pooley Accounting Services

At the end of a year-long project, the CEO of a construction company joked that he loved it when a plan came together. Although the CEO was pleased that the project went as planned, he felt that the success was due as much to luck as to planning. After all, only 28% of construction projects come in on time or budget. A 2020 survey found that construction businesses blame delays on:: Change orders (62%), Weather (60%), Poor project coordination (54%), Delayed payments (12%).

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Preparing for Automation

ThomsonReuters

For tax professionals with many years of experience in the field, automation can seem like technological overreach. Any change or disruption to a workflow developed over many years of practice is going to be met with resistance. However, automation is important for any firm looking to improve efficiency and generate more revenue. . Why automation?

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Failure Rates in MLM (Multi-Level Marketing)

FraudFiles

More than 99% of people lose money in multi-level marketing (MLM). In Chapter 7 of Dr. Jon Taylor’s book, The Case (For and) Against Multi -Level Marketing , he details the failure rates of participants in multi-lievel marketing companies. In order to analyze the true failure rates and to calculate actual profits or losses from participation in these (improperly termed) “business opportunities,” it is necessary to wade through confusing and incomplete disclosures and to estimate figures that are

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Celebrating Women’s Small Business Month: Advice from Xendoo CEO and Founder, Lil Roberts

xendoo

National Women’s Small Business Month celebrates women’s achievements in business, and highlights what they bring to their communities as small business owners. We took a moment to interview Xendoo founder and CEO Lil Roberts, to get insight into what it takes to be a successful entrepreneur, and the importance of women leading in business. . Build Up Your Team.

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Recruit and Retain New Blue-Collar Talent

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.

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INSIDE Public Accounting Ranks KROST Among Top 100 Firms in the US in 2021

KROST

Pasadena, CA – INSIDE Public Accounting (IPA) named KROST CPAs & Consultants Top 100 Firm, Top 100 Fastest-Growing Organic Growth Firm, Top 100 Fastest-Growing All Growth, and best of the best in 2021. The firm placed 81 st on the prestigious top 100 list, a substantial leap from 116th in 2020. KROST along with other recipients of these distinguished awards will be highlighted in the August and September issues of IPA’s monthly newsletter.

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Evaluating Your Firm’s Advisory Stance

ThomsonReuters

Maintaining your firm’s competitive advantage is important in any crowded marketplace. As more and more clients seek DIY solutions when completing their taxes, differentiating your firm, and capitalizing on your strengths are crucial to keeping existing clients and generating new business. Evaluating your firm’s advisory stance is a strong first step to improving your business operations. .

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How to Use a Lifestyle Analysis in Divorce

FraudFiles

How is a lifestyle analysis used in a divorce case? Attorney Miles Mason discusses how he uses the report, more specifically the numbers that he is most concerned about.

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My Copy Arrived

RitaKeller

“There are no shortcuts to any place worth going.” – Beverly Sills. As with every Fall, I anticipate the arrival of my copy of the Rosenberg Survey. I learn so much from this valuable resource and it is a very helpful tool as I do my advisory work with local and regional firms. For example: Why should firms located in cities with over 2 million in population have partner billing rates that range from $474 down to $277?

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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International Flower Wholesaler And Distributor Gets Fully-Integrated IT Infrastructure

Withum

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What Are the Transparency Requirements for Handling Requests for Provider Directory Information?

ThomsonReuters

QUESTION: We’ve heard that our group health plan will be subject to provider directory transparency disclosures that require protocols for responding to individual requests for directory information. What are the requirements, and when do they take effect? ANSWER: As we discussed in a previous Checkpoint Question of the Week , a number of transparency requirements impacting provider directories go into effect for plan years beginning in 2022.

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Wheelchairs For Warriors: Giving Veterans & First Responders A Life Of Mobility

GrowthForceBlog

5 min read. Wheelchairs for Warriors puts the quality back in " quality of life " for those who courageously risked their lives and sacrificed limbs for our freedom. Too often, Veterans injured in the line of duty come home with the burden of substandard mobility equipment that hinders their ability to function. Wheelchairs for Warriors was created to resolve this pressing issue- and give quality of life back to those who serve(d) in the gap for us.

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Who Drives You Nuts? Flashback Friday

RitaKeller

“A thought that sometimes makes me hazy: Am I – or are the others crazy?” – Albert Einstein. In almost every CPA firm there are partners who drive people nuts? Even if you are a partner, there are other partners who drive you nuts. I guess it is just human nature. Here is a Flashback Post t hat describes partners who might drive you nuts!

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.