CPA Practice

NOVEMBER 14, 2023

New QBOA improvements announced at QuickBooks Connect include the following: QuickBooks Ledger: Designed exclusively for accountants, QuickBooks Ledger is a cost-effective solution for businesses that may not yet require the full breadth of QuickBooks Online, and offers a seamless transition experience when they are ready to upgrade.

quickbooks 119

quickbooks E-commerce Approval Workflows Account 119

ThomsonReuters

NOVEMBER 27, 2023

Under this method, the value is the fair market value of the employer-provided vehicle, determined as the amount the employee would pay to a third-party to lease the same vehicle in the geographic area where the employee uses the vehicle. The ALV remains the same for four years unless the vehicle is transferred to another employee.

income tax 97

income tax payroll Tax Account 97

ThomsonReuters

JUNE 10, 2021

As part of an employment discrimination lawsuit, a former employee claimed that her employer improperly discontinued her medical benefits in violation of COBRA. The employer asked the court to dismiss the claim, arguing that it did not have enough employees to be covered by COBRA. Contributing Editors: EBIA Staff.

payroll 98

payroll Tax Account accountant 98

Xero

JULY 31, 2022

In addition to the buzz of Xerocon London, we have had a number of product releases, including adding even more customisation and functionality to our new reports in Xero, and the early release of Xero Go for UK sole traders. Improve the accuracy of your client records — Global. My Payroll is now called Xero Me — Global.

payroll 86

payroll accounting apps income tax quickbooks 86

ThomsonReuters

FEBRUARY 6, 2024

The more common types of direct tax are: Individual income tax Corporate income tax Capital gains tax Estate tax Property tax Payroll tax Individual income tax One type of direct tax is individual income tax, which is also known as personal income tax. While some have to calculate their income tax provision , some U.S.

Tax 52

Tax income tax payroll tax payroll 52

Xero

JANUARY 9, 2024

As a small but growing firm, Equivion looks to provide quality support to their customers and is looking to hire its first full-time employee soon. The post Meet our new US Xero Partner Advisory Council members appeared first on Xero Blog. He now leads the Inc.

Alabama 78

Alabama bookkeeping Technology E-commerce 78

Shay CPA

FEBRUARY 28, 2024

You need to do your part, too, so make sure you’ve properly recorded any business expenses you made with your personal account. Also, meet with the appropriate people/teams to make sure they’re working toward finishing up their 2023 recording. for a more in-depth look, check out this blog) Dues and subscriptions (e.g.,

Tax 52

Tax CPA bookkeeping tax preparation 52

Xero

NOVEMBER 15, 2022

Employees are the lifeblood of any small business but managing staff can be very time consuming. Here are some apps that help make managing staff a dream: Deputy – Simplify rostering, scheduling, timesheets, tasks, and team communication with an employee management tool that seamlessly connects businesses and employees.

E-commerce 90

E-commerce Approval Workflows payroll Sales 90

Xero

SEPTEMBER 27, 2022

From POS systems to inventory management to payroll, Xero connects with over 1,000 apps as well as 300 banks and financial institutions across the globe. Aspire brings together multiple offerings under one roof including business accounts, corporate cards, systems solutions for spend management, receivables management and business credit.

accounting and finance 66

accounting and finance payroll Technology accounts payable 66

Nancy McClelland, LLC

AUGUST 21, 2023

There have been rumblings in the news for quite some time now about small businesses being required to provide retirement plans for their employees — but most owners seem to be turning a deaf ear, presuming that their small size exempts them from the requirement. Wave One began in 2018, and included employers with 500 or more employees.

Illinois 52

Illinois Non-Profits payroll Start-ups 52

Nancy McClelland, LLC

AUGUST 21, 2023

There have been rumblings in the news for quite some time now about small businesses being required to provide retirement plans for their employees — but most owners seem to be turning a deaf ear, presuming that their small size exempts them from the requirement. Wave One began in 2018, and included employers with 500 or more employees.

Illinois 52

Illinois Non-Profits payroll Start-ups 52

Xero

JUNE 2, 2022

Because we’ve extended free conversions to include cloud to cloud! Does the Ultimate Plan include Payroll, I hear you ask? What’s more, it’ll soon come with one of the most requested payroll features to date – Payroll Audit History. appeared first on Xero Blog. Click here for all the details.

bookkeeping 88

bookkeeping payroll audit account management 88

ThomsonReuters

JUNE 16, 2023

When a person engages in accounting fraud, they are intentionally manipulating accounting records to make the company’s financial picture seem better than it actually is. They may not make proper provisions for returns, or sales made to related parties may not be properly recorded as revenues.

Account 93

Account accountant accounted financial statements 93

ThomsonReuters

APRIL 18, 2023

Furthermore, Thomson Reuters research found that changes to tax rules is a major area of focus for employee training at firms in 2023, as 66 percent of firm leaders said they will offer such training to everyone in their firm. Deliver frequently updated news and articles about employee benefits law and compliance.

Account 52

Account accountant accounted Technology 52

ThomsonReuters

JANUARY 4, 2024

Some of the tasks that you can streamline using software applications and tech tools include: New client onboarding Accounting and payroll Tax filing deadlines Document management Compliance monitoring Automation allows firms to streamline operations , reducing wasted time and stress for employees.

Tax 71

Tax Technology payroll tax accounting careers 71

Ronika Khanna CPA,CA

DECEMBER 7, 2023

QBO, by definition, is accessible online and also has a decent mobile app where many day to day accounting functions can be performed, such as invoicing, reviewing reports, entering expenses, scanning receipts etc and is included with your subscription. It might make sense to consider other ways of doing your payroll.

accounting software 52

accounting software quickbooks Account accountant 52

ThomsonReuters

SEPTEMBER 2, 2021

Generally, a plan sponsor learns of an audit when it receives a letter or phone call from the DOL’s Employee Benefits Security Administration (EBSA) advising “plan officials” of the investigation and requesting a detailed list of documents. appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

audit 98

audit payroll Legal Tax 98

Ryan Lazanis

SEPTEMBER 1, 2023

14) Expensify Have employees that need expense reports generated? Employees scan their receipts. If you want to include mileage as a tax deduction, you have to painfully track your business trips. Give this to employees that may not need a full credit card and get expenses tracking and into your system easily.

accounting software 98

accounting software quickbooks Account accountant 98

ThomsonReuters

FEBRUARY 2, 2022

People search online for products and services, including accounting services. You can do this online through blogs, white papers, webinars, and podcasts, or offline through speaking engagements and networking opportunities. Aside from the business owner, a spouse, partner, or accounting employee could also affect or make the decision.

accounting firms 98

accounting firms Account accountant accounted 98

LyfeAccounting

FEBRUARY 4, 2021

And you can choose which period to use and match it up with your payroll which is called the alternative covered period. Question #1: Which loan forgiveness application should sole proprietors, independent contractors , or self-employed individuals with no employees complete? Or the net amount paid to employees?

payroll 52

payroll Tax small business accounting accounting and finance 52

Shay CPA

FEBRUARY 15, 2023

You need to do your part, too, so make sure you’ve properly recorded any business expenses you made with your personal account. Also, meet with the appropriate people/teams to make sure they’re working toward finishing up their 2022 recording. for a more in-depth look, check out this blog ) Dues and subscriptions (e.g.,

Tax 52

Tax CPA bookkeeping tax preparation 52

ThomsonReuters

NOVEMBER 21, 2023

From there, create on-demand blogs or videos on these topics that clients can consume in their own time. These recorded resources replicate your firm’s best practices and ensure that your clients can get their questions answered while saving you time. Employee retention credits.

tax planning 52

tax planning Tax payroll tax Education 52

Xero

SEPTEMBER 7, 2022

And payroll costs are also increasing, as labour markets tighten globally. For many small business owners and their employees this will be the first time they’ve experienced managing or working in a business during a time of inflationary pressures.

bookkeeping 97

bookkeeping payroll Start-ups Account 97

ThomsonReuters

SEPTEMBER 8, 2023

Indeed, there is plenty of gray territory when it comes to deciding the most strategic tax status for growing small- and mid-size companies, including LLCs (which we’ll discuss later). Step 2: Appoint corporate officers to include a chief executive officer (CEO) and a board of directors. What is a C Corporation?

income tax 75

income tax Tax Legal tax return 75

Xero

JULY 21, 2022

You can start getting your clients ready by: encouraging them to keep digital records if they currently aren’t (that means saying goodbye to shoeboxes of receipts and post-it notes). This includes our end-to-end solution that we’ll be putting in your hands before MTD for ITSA is mandated. . Better managing your practice workflows.

bookkeeping 69

bookkeeping Start-ups Tax payroll 69

ThomsonReuters

APRIL 6, 2023

This includes products or services that are purchased and invoiced. Generally, when an invoice is received, it’s recorded as a journal entry and posted to the general ledger. When the expense is approved by the authorized employee, a check is cut (digital or hard copy) based on the terms of the purchase agreement.

accounts payable 52

accounts payable Account accountant accounted 52

ThomsonReuters

DECEMBER 5, 2023

As the end of the calendar year approaches, businesses embark on the crucial task of finalizing their payroll processes. ” Accuracy of employee data Being hyper-focused on the accuracy of employee data is one of the most important components of a successful year-end. According to the U.S.

payroll 98

payroll Tax tax return Start-ups 98

Xero

AUGUST 22, 2022

This week, one of our most highly requested product updates will be going live in Xero Payroll: payroll history. We listened to you, our customers and community, and will be launching the first stage of the feature in Australia – employee records. What exactly is payroll history? So, what does this mean?

payroll 113

payroll bookkeeping audit Legal 113

LyfeAccounting

NOVEMBER 13, 2020

They have to pay their employees. Technically, the definition of bookkeeping is the activity or occupation of keeping records for financial affairs of a business. In other words, bookkeeping is about recording data and transactions. Whereas an accountant can help you out with tasks that include: Tax preparation.

bookkeeping 52

bookkeeping Account accountant accounted 52

Ronika Khanna CPA,CA

APRIL 14, 2022

This applies to anyone who sells goods or services and includes consultants, self employed individuals and/or contractors. You should also keep a record of your expenses that relate to your business as you may claim these against your income. Motor vehicle expenses including lease payments, gas, insurance, repairs etc.

Tax 52

Tax tax return business tax accounting and finance 52

Snyder

JANUARY 8, 2023

For example, if you need to hire employees, then payroll and payroll tax expenses will add up, and so on. Start a blog. If you’re using your own domain for selling products, starting a blog there can be a good free marketing strategy. You pay the price, which usually includes wholesale plus a dropshipping fee.

E-commerce 98

E-commerce Non-Profits Start-ups Maine 98

ThomsonReuters

JULY 13, 2021

The IRS will issue a CP2100 or CP2100A Notice if the payee’s name and TIN on the information return filed does not match the IRS’s records. Employers use Form 945 , Annual Return of Withheld Federal Income Tax, to report withheld federal income tax from nonpayroll amounts that include backup withholding, which is reported on line 2.

payroll 98

payroll income tax Vermont tax return 98

Xero

SEPTEMBER 1, 2022

We’re extending our US pilot that includes a chart in the Expenses by Contact report, to all customers globally in the weeks ahead. Update employee records in Xero Payroll — Australia. To make sure your employee records are compliant with Single Touch Payroll (STP) Phase 2, we’ve updated the employee list in Xero Payroll.

payroll 86

payroll accounting apps tax return Tax 86

Xero

SEPTEMBER 7, 2022

We launched our Changing world of work reports for Australia and New Zealand , which shine a light on the workforce challenges that your clients face, the workplace experiences of their employees, and the critical role of technology in this changing world of work. Managing Australian payroll in the digital economy.

payroll 100

payroll general ledger bookkeeping audit 100

ThomsonReuters

JUNE 21, 2021

In an attempt to provide relief to struggling employers during the coronavirus (COVID-19) pandemic, the Coronavirus Aid, Relief and Economic Security (CARES) Act included a provision that allowed employers to defer the payment of the employer’s share of Social Security tax from March 27, 2020 through December 31, 2020. Federal News .

payroll 52

payroll Tax Missouri Massachusetts 52

Xero

MAY 16, 2023

And a good place to start is with finalising payroll. This EOFY in Xero Payroll will be slightly different than previous years. Because of the introduction of Single Touch Payroll (STP) Phase 2 reporting. Now that you’ve made the transition, you can prepare your payroll data for STP finalisation.

payroll 19

payroll general ledger Start-ups Tax 19

Xero

OCTOBER 31, 2022

Over the past month, we’ve made updates to support the transition to Single Touch Payroll Phase 2 in Australia, improvements to eInvoicing, changes to multi-factor authentication, and more. We’re making some updates that will give you a better experience when entering employee information into Xero Payroll (Australia).

payroll 99

payroll Tax accounting apps Government 99