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Errors in Posting Payroll

SMBAccountant

Almost every business has some sort of payroll to pay their employees. Payroll can become much more complicated than some assume and it often has a substantial impact on financial results. The largest expense for many businesses is their labor expense, yet it’s often the most misunderstood.

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Fraud Detection and Prevention: Fraud Through Employee Reimbursements

Withum

In past years, the annual audit was performed by a CPA who was an income tax practitioner. When selecting the new firm, ACME CPAs, management chose a firm and practitioners who specialized in financial audits with an emphasis in labor union/not-for-profit organizations. The Takeaway.

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A Comprehensive Guide to Building an Optimal Accounting System

Basis 365

Invoices languish in email inboxes, expense reports get lost in paper trails, and payroll processing involves manual calculations. Their robust, cloud-based software integrates seamlessly with payroll, inventory management, and customer relationship management platforms. In most cases, you should choose accrual accounting.

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Deep Dive: How Firms Can Avoid Costly Mistakes Come Tax Season

PYMNTS

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. Unusual or unexpected expenses could also crop up each year. Digitizing these processes can ease SMBs’ tax frustrations.

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Expense Reimbursement vs Company Credit Cards: What Skagit County Business Owners Need to Decide

SkagitCountyTaxServices

You probably didn’t realize that there are actual pros and cons to expense reimbursement for employees, etc. If you run such a business in Skagit County, or know somebody that does, funds are available to help with payroll and rent. Now, let’s dive into handling business expenses paid by employees.

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Last Week in Payroll: Localization of Work

ThomsonReuters

and will address the following: the workers who are considered election workers; the amount workers can earn without taxes being withheld; the difference between reportable and taxable wages; and training and expense reimbursements. The IRS’s election worker webinar is on June 24, 2021 at 1:00 p.m.

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