Menzies

DECEMBER 7, 2022

Menzies LLP - A leading chartered accountancy firm. In CASS 7 there are references to rules that apply to a MiFID business and those that carry out designated investment business which are not MiFID businesses. sets out that CASS 7 applies with regards to the following firms: MiFID business; and/or.

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ThomsonReuters

DECEMBER 1, 2023

Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for  depreciation  or  amortization  of assets is critical. Section 179 deductions are limited to annual taxable business income. What is listed property for depreciation?

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tax return Tax Transportation Non-Profits 97

ThomsonReuters

APRIL 13, 2023

Even though a retainer can be a win-win, it can be a challenge to convert people and businesses who come to your accounting firm for their tax returns into consistent retainer clients. Here are the top 5 ways to help them make the transition, as well as the “why” and “how” of the retainer agreement system.

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ThomsonReuters

MAY 27, 2022

Businesses participating in import and export trading may find themselves swirling in a storm of global regulatory changes. But for those operating in a complex network of manufacturers, logistics partners, distributors, raw goods suppliers, and sales channels, remaining compliant carries tremendous burden and risk.

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LyfeAccounting

JULY 20, 2021

Great, you have an LLC and now you have all that is required to get to work and operate your business! Create an Operating Agreement. The first thing we want you to do if you haven’t already is to create an operating agreement. But the biggest reason you need an EIN is to file your business taxes.

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ThomsonReuters

JULY 6, 2023

In today’s ultra-competitive business landscape, being an accountant means far more than preparing tax returns or compiling financial statements. But what does accounting advisory mean and how can your firm take advantage of this unique opportunity to showcase your knowledge and build deeper relationships with your clients?

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Menzies

DECEMBER 7, 2022

Menzies LLP - A leading chartered accountancy firm. For example, if a firm also holds client funds in respect of insurance business, then rather than applying the CASS 5 rules to the insurance monies, CASS 7 can be applied to both. Separate client money accounts must be maintained for insurance and investment amounts.

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ThomsonReuters

JULY 2, 2021

In the aftermath of Brexit, most companies that conduct business in the United Kingdom (UK) and European Union (EU) have absorbed the initial shock and are now looking for more stable, long-term solutions to the challenges posed by the UK’s new trade regime. Duty savings opportunities with free trade agreements.

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ThomsonReuters

MAY 19, 2021

Historically, accounting for lease modifications is an area you may have found an infrequent need to address. These adverse circumstances have served to place a spotlight on the necessity for entities to have processes and systems in place to account for lease modifications properly.

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ThomsonReuters

AUGUST 22, 2023

Spotify is hardly an outlier when it comes to companies across multiple industries, and there can be a number of upsides when a business is determining whether or not to make the leap into international markets. For one, there are brand new markets to help generate additional revenue streams and more business growth opportunities.

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ThomsonReuters

MARCH 16, 2021

The list of disruptions is long: the US-China tariff war, Brexit , the COVID-19 pandemic, and evolving international trade deals including the United States-Mexico-Canada Agreement and the Trans-Pacific Partnership. Global trade analytics add value to the business. And the stakes could hardly be higher. The next disruption.

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ThomsonReuters

FEBRUARY 3, 2022

Do we need a HIPAA business associate contract with the cloud service provider? ANSWER: A cloud service provider (CSP) is considered a HIPAA business associate when a covered entity, such as a group health plan, engages the CSP to create, receive, maintain, or transmit ePHI (such as to process or store ePHI) on its behalf.

Tax 59

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Ronika Khanna CPA,CA

NOVEMBER 17, 2023

Upwork or Fiverr Short term accommodations e.g. Airbnb Task based platforms e.g. taskrabbit or pet sitting services E-commere selling e.g. ebay, Amazon and affiliate programs Writing/Blogging which generates revenue either by selling articles to publications or via ads on their website Virtual assistants, online surveys, tutoring etc.

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ThomsonReuters

FEBRUARY 9, 2022

On the way, I saw a few businesses that had closed. This may have been an effect of COVID-19 or for other reasons, but when businesses close, employees are no longer employed and may be able to collect unemployment benefits from the state. States and localities may also provide tax relief for businesses affected by a disaster.

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LyfeAccounting

FEBRUARY 19, 2021

?. One of the most popular types of business entities in the United States is a single-member limited liability company. A single-member LLC is usually a business registered in the state where the company does business. All these business entities have their own unique advantages and disadvantages. What is an LLC?

Tax 52

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ThomsonReuters

DECEMBER 19, 2023

For accountants, understanding these tax credits is essential in ensuring clients make the most of their investment in clean vehicles. Lease agreements must have an initial term of at least two years. Blog For more information on claiming green tax credits, see our guide to environmental IRS forms.

Tax 52

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inDinero Tax Tips

NOVEMBER 4, 2021

Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. An audit is the way the Internal Revenue Service (IRS) ensures that what’s being reported on your tax return matches your business activities.

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ThomsonReuters

NOVEMBER 23, 2022

As part of their compliance with the HIPAA security rule, covered entities (including health plans and most health care providers) and business associates (together, “regulated entities”) must implement policies and procedures to address suspected or known security incidents posing a threat to electronic protected health information (ePHI).

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ThomsonReuters

OCTOBER 19, 2023

A bond , which is a limited-life intangible asset, is essentially a loan agreement between the issuer of the bond (i.e., For issuers, bonds can be a way to provide operating cash flow, fund capital investments, and finance debt. For those issuing the bond, amortization is an accounting tactic that has beneficial tax implications.

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ThomsonReuters

FEBRUARY 22, 2021

The United Kingdom and European Union narrowly avoided the worst of Brexit’s possible outcomes when the EU-UK Trade and Cooperation Agreement (TCA) was signed on Dec. The TCA allows businesses in the UK and EU to trade without the burden of tariffs or quotas, provided the goods meet the agreement’s new rules of origin.

Manufacturing 91

Manufacturing Pharmaceutical Tax audit 91

ThomsonReuters

APRIL 6, 2023

Accounts payable and accounts receivable are opposite but interconnected procedures. Together, they comprise the very basics of business and can be used to gauge financial health. When accounts payable and accounts receivable are in balance, a business can plan ahead for growth.

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Snyder

JULY 13, 2022

What does this transfer to managed payments mean for their sales rates and business flow? Will it affect the payment operations or fees and, if so, how? How to set up Managed Payments account on eBay. How to set up Managed Payments account on eBay. What are the advantages and disadvantages of payments managed by eBay?

E-commerce 98

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ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables.

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ThomsonReuters

MARCH 1, 2021

Less than a month after the UK completed its separation from the European Union, Britain’s five largest business groups warned the government that companies were facing substantial difficulties moving goods through UK ports. However, there are many agreements remaining to be enacted with no guarantee they will happen easily.

Technology 52

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ThomsonReuters

JANUARY 31, 2022

Without it, businesses wouldn’t be able to clear customs when importing components or, on the outbound side, when exporting their finished goods.”. The ‘what can go wrong’ falls into two buckets: compliance problems and business problems,” Thompson explained. Business impacts can be even more dire. Are companies ready?

Technology 98

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Going Concern

MAY 22, 2023

Let’s start off with a positive post on r/accounting. Current and future accountants, you have a lot to be optimistic about. by u/manthisis in Accounting Moving on, PwC Australia continues to rack up the Ls. Alec previously worked for a regional accounting firm and has two years of experience.

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ThomsonReuters

NOVEMBER 2, 2023

Among them are deficiencies in compliance and regulatory knowledge, legal knowledge, and technical adeptness, as well as shortcomings in the areas of communication, leadership, and business acumen, not to mention practical experience in project and financial management.

Technology 52

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LyfeAccounting

JULY 19, 2021

If you are buying real estate with a business partner. The biggest thing to look out for here is that sometimes there is a clause in your mortgage agreement called “due on sale” which would be similar to selling your property to someone else. Step 1: Understand the business structure. Setting up your business bank account.

Real Estate 52

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ThomsonReuters

MAY 12, 2022

A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. Sales tax auditors examine federal income tax returns to reconcile the gross sales between the federal return, the sales tax return, and the sales recorded in accounting records.

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audit Sales Tax auditor 105

LyfeAccounting

JUNE 9, 2021

So you decided to move forward with your business idea…. That way, you have limited liability in case someone decides to sue your business. Some business owners may want their articles of organization to be prepared by a lawyer. How the LLC will be operated and managed. And, your personal assets are not in jeopardy.

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ThomsonReuters

NOVEMBER 23, 2022

Other business-related reasons can also play a role, such as: A management push for greater efficiency and higher profit margins. Moving operations to the cloud has become a priority. Attend our free webinar where speakers will share how tax automation can help a business like yours by implementing enterprise-grade tax technology.

Technology 59

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ThomsonReuters

NOVEMBER 19, 2020

The DOL has issued final regulations establishing the registration requirements for pooled plan providers (PPPs) who offer and operate pooled employer plans (PEPs). As under the proposed regulations, a PPP’s initial registration generally must be filed at least 30 days before “beginning operations.”

Tax 52

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Accounting Insight

APRIL 5, 2023

Net-zero means that a business has reduced the greenhouse gas emissions from its operations and value chain by 90%. Businesses increasingly want to be part of the solution and take climate action, with net-zero representing the ultimate goal. This is in line with climate science, limiting global warming to 1.5°C.

Start-ups 59

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ThomsonReuters

JUNE 7, 2023

The latter increases the complexity when an employer begins to operate in more countries. Technology can help with compliance Weckman said that global businesses want to reduce their risk and rely on paying their people accurately. More businesses warming up to adding A.I. in many areas, including human resources and payroll.

payroll 52

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ThomsonReuters

MARCH 10, 2021

Limits the ERC to $50,000 per calendar quarter of an eligible employer that is a “recovery startup business.” Qualified wages paid by an employer taken account as payroll costs under (1) Second Draw PPP loans; (2) shuttered venues assistance and (3) restaurant revitalization grants are not eligible for the ERC.

payroll 105

payroll payroll tax Tax Non-Profits 105

ThomsonReuters

JANUARY 28, 2021

In 2020, we saw a flurry of COVID-19-related activity at the SEC designed to help companies navigate the business impact of the pandemic. This blog post highlights certain changes in SEC reporting and disclosure across several key topics, along with practical takeaways. 2) Stricter proxy advisory firm regulation.

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LyfeAccounting

OCTOBER 16, 2020

Starting a business isn’t very easy. I mean a lot of people think, and a lot might say, “Whoa, I don’t want to get into debt especially with 8 out of 10 new businesses failing. Well, here’s the thing, how to start a business in 2020, is easier than it’s ever been before. 10 Steps on How to Start a Business.

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