Wed.Sep 28, 2022

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Is Software as a Service Taxable? 

Anders CPA

Is Software as a Service (SaaS) taxable? The short answer to this common question: Maybe. Each state treats taxation of SaaS slightly differently, although many states do consider it taxable. Even if a state doesn’t require sales tax on SaaS, the company may still need to file if they pass a certain threshold of sales. SaaS really encompasses three types of services: SaaS; Infrastructure as a Service (IAAS) and Platform as a Service (PAAS).

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Risks of misunderstanding the impact of economic nexus

TaxConnex

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Nexus can be economic and based on a threshold of sales volume in a given time. Nexus can also be physical, created by inventory, employees or reps in a state or jurisdiction. Nexus can also be dangerous.

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FBI Notification: Cyber Criminals Targeting Healthcare Payments

Withum

On September 14, 2022, the FBI issued the attached notification regarding hackers that are actively targeting healthcare payment processors to reroute funds to attacker-controlled accounts. The FBI noted that thus far in 2022, hackers have already stolen more than $4.6 million USD from healthcare organizations by accessing customer accounts and altering payment details causing critical operational, reputational, regulatory, and legal impacts.

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Accounting Insiders Rewind: Controllership Solutions' Stephen Smith

Intuitive Accountant

The owner and CEO of Controllership Solutions dishes on trusted advisor status, client relationships and what it takes to be successful. Check out his spot on Insightful Accountant's YouTube channel.

Account 100
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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Procore + Xero: Building a new platform partnership to help digitalize construction

Xero

As we scale our small business platform, we are always looking at ways we can work with like-minded partners to deliver best-in-class cloud tools to our customers. This is all part of the work we are doing to build out the Xero platform, catering to the industry specific needs of our customers. Speaking of building, I’m proud to announce our new partnership with Procore , connecting their industry leading construction platform into Xero. .

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Foreign Earned Income Exclusion (Form 2555)

KROST

The US tax system requires all its citizens and permanent residents to file tax returns based on worldwide income, regardless of where they live. As such, if a person lives overseas and files taxes in a foreign country, the person also needs to report the foreign income to the IRS by filing US taxes. In Read the full article. The post Foreign Earned Income Exclusion (Form 2555) appeared first on KROST.

More Trending

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According to This List, Deloitte is the Best Big 4 Firm For Women

Going Concern

Fortune has come out with their 100 Best Large Workplaces for Women list and while no accounting firms made the top ten, Deloitte managed to claw their way up to #16 from #51 in 2021 thus making them the highest-ranked Big 4 firm on the list. To determine the Best Workplaces for Women, Fortune research partner Great Place to Work analyzed feedback representing more than 1.2 employees, 640,000 of whom were women.

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A discussion with our Digital Marketing Manager – what can you learn for your own business?

Reckon

We recently sat down with Valentina Vurchio, Digital Marketing Manager at Reckon, to get a better handle on exactly what digital marketing is. We also unpacked some of the most recent trends you should be looking out for, and a few easy ways to improve your own digital marketing as a small business owner. As a digital marketer, can you give us a brief idea of what digital marketing entails?

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Build It and They Will Come: Hiring a Contractor

Patriot Software

As a small business owner, it’s your responsibility to know who’s the best person to hire for a job. Sometimes that means adding an employee to your roster. Other times, it means hiring a contractor. Hiring a contractor can help fill temporary or project-oriented positions. Read on to get the scoop on hiring independent contractors […] READ MORE.

Account 52
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3 Things To Consider When Deciding on In-House or Outsourced Accounting Services

AccountingDepartment

As a small or medium-sized business owner, trying to decide whether to hire an in-house team of accounting professionals or hire an outsourced accounting services provider can sometimes be difficult. To some, just hiring a person to come into the office to handle the books seems like an easier option, but it may not be the best option.

Account 52
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Planning Your Restaurant's 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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Is Stripe a Secure Payment Method?

Snyder

Like Square and PayPal, Stripe is a payment-processing platform that offers users an affordable online transaction tool with several customization options. Like any new system, it might take a little time to master Stripe. But once you get used to the platform, you’ll find that the secure Stripe payment integration for accounting is very straightforward and has an easy-to-navigate user interface.

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Meet the Brand: Mindful Education

Accounting Insight

Next up in the spotlight is Mindful Education, specialists in o nline accounting courses and apprenticeships. Check them out before meeting their team at Accountex Summit Manchester 2022! What do you do? At Mindful Education we create award-winning online accounting courses and apprenticeships which set a new standard in the digital delivery of education. .

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How to Measure Business Performance in 3 Steps

IgniteSpot

1. Regularly track financial goals and benchmarks. What details and data points will help you make decisions? Determine the right goals and track them to determine what success looks like.

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Would job costing or process costing be used for gummy bears produced at the US Haribo manufacturing plant?

Wendy Tietz

Haribo has manufactured gummy bears since 1920. Those bears are currently made in 16 plants around the world. Starting in late 2022 or early 2023, those gummy bears will also be made in the US when Haribo finishes construction on its new plant in Pleasant Prairie, Wisconsin. Worldwide, about 100 million gummy bears are made […].

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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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How Your Firm Can Drive Better Client Experiences

Intuitive Accountant

Avii is offering accounting firms flexibility with new Core and Enhanced Versions of Avii Workspace Client Experience Solutions

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SEC charges Friedman with improper professional conduct in audits

Accounting Today

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A New Commerce Accounting Capability

Intuitive Accountant

Intuit QuickBooks rolls out new commerce accounting capabilities, seamlessly integrating online sales channels.

Account 52
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CPAs must advise clients of green energy opportunities in the IRA

Accounting Today

cpas 98
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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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Peter Margaritis

GBQ

Go “off script” with this improv virtuoso, author, speaker, coach, podcaster, communication expert (and accidental accountant!) to explore how mastering the art of business improv reinvents the way individuals and teams connect, communicate and collaborate. Go “off script” with this improv virtuoso, author, speaker, coach, podcaster, communication expert (and accidental accountant!

Account 40
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Rising interest rates cause pain for estate planning moves used by the ultrarich

Accounting Today

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What’s the Big Deal About Financial Statement Fraud

FraudFiles

The manipulation of a company’s financial statements does not occur as often as asset misappropriation schemes like payroll fraud, check kiting, or inventory theft. And the losses from financial statement fraud aren’t readily apparent to most people. When money is stolen directly (asset misappropriation), it’s easy to see what the harm is to the company.

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Sales tax receipts decline as inflation pinches pockets

Accounting Today

Sales 98
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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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Top Five Power Platform Mistakes for Citizen Developers to Avoid

Withum

Power Apps and Power Automate are two amazing low-code/no-code tools that allow any citizen developer to quickly innovate and solve their business problems without help from IT. Even so, a little advanced knowledge of what to avoid can go a long way in making your first forays into the world of citizen development more successful. To that end, I’ve pulled together my top five power platform mistakes to avoid from my own experience and that of many of our clients.

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Boomer's Blueprint: Uncertainty, leadership, adaptability, resources

Accounting Today

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EY UK Chair Insists Audit Will Not Be the Red-Headed Stepchild of Professional Services if the Split Goes Forward

Going Concern

For years, audit has struggled to attract talent and especially leadership because let’s be honest, audit is awful. You’re clients least favorite person, you have regulators breathing down your neck, and one little mistake can ruin your whole career. Plus the pay is…not great compared to other service lines. EY UK Chair and Managing Partner Hywel Ball says all that will change if and when EY splits off its audit and consulting arms.

audit 10
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The two types of 'trusted'

Accounting Today

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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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Finding a niche for your professional services

Reckon

Stephanie Crawford found a knack for business coaching while working as a bookkeeper. And now, as a coach, her main clientele are fellow bookkeepers looking for strategic business advice. “I’m a huge advocate for businesses having a bookkeeper as part of their team—they are generally more successful as a result,” she shares. “Coaching bookkeepers has become my sweet spot.”.

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In the blogs: Constantly evolving

Accounting Today

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Business apps: Everything you need to know

Xero

With the explosion of different business apps now available, more and more businesses are using apps to help run their daily operations and to grow – gaining access to smarter insights and banishing manual tasks to the past. But what exactly are business apps? And how are businesses that embrace app technology seeing the benefits? . First, what exactly do we mean by apps?

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FASB seeks nominees for Small Biz Advisory Committee

Accounting Today

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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.