Thu.Jun 10, 2021

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Revealing the Trends of Your Business Profitability

GrowthForceBlog

4 min read. We’ll cut to the chase: if you aren’t monitoring the trends in your business by tracking your Trailing Twelve Months, you are missing out on key insights that could make a profound impact on your business.

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Help Ensure the IRS Doesn’t Reclassify Independent Contractors as Employees

RogerRossmeisl

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes.

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5 Steps to Tracking Your Economic Nexus Footprint

TaxConnex

Your sales tax obligations start with whether or not you have sales tax nexus. Without it, you have no obligation to collect and remit sales tax to specific taxing states or jurisdictions. Your sales tax nexus is determined by either a physical or economic presence within a taxing jurisdiction. Most businesses have somewhat of a grasp of their physical presence, after all, it was the standard for sales tax obligations for over 50 years.

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EEOC Gives Green Light to Employers’ COVID Vaccine Incentives, With Important Caveats

ThomsonReuters

What You Should Know About COVID-19 and the ADA, the Rehabilitation Act, and Other EEO Laws (May 28, 2021). Available at [link]. The EEOC has updated its guidance on COVID-19-related compliance issues under the ADA, GINA, and other employment laws. In addition to modifying and expanding earlier guidance on employer vaccination programs, the updated guidance adds six Q&As addressing ADA and GINA considerations for employer-provided COVID-19 vaccination incentives for employees and their fami

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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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Do You Know About the Tax Credit for Providing Paid Leave to Employees for COVID-19 Vaccinations?

Withum

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Former Employee’s Recollection of “Christmas Card List” Was Insufficient to Defeat COBRA’s Small Employer Exception

ThomsonReuters

Gorman v. Acteon Networks, LLC, 2021 WL 2156359 (E.D. Pa. 2021). Available at [link]. 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.

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Three steps to energizing your CPA firm staff after a year of change

ThomsonReuters

CPA firms are understandably exhausted after the past year, however, there is a tremendous opportunity for the accounting profession to reflect, reset, and energize staff with a fresh perspective infused with learnings from the 2020 tax season. In the latest episode of Pulse of the Practice, “ A Conversation with Carrie Steffan ”, Paul Miller, Owner of Business by Design , and I discuss how to inspire and mobilize CPA firm staff in the year ahead with insight from Carrie Steffen of The Whetston

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Guide to Accounting for Amazon FBA Sellers

xendoo

Becoming a third-party seller on Amazon is an exciting opportunity for many small businesses. After evaluating the pros and cons of selling on Amazon , you may decide to go with an Amazon FBA (Fulfilled by Amazon) account. You’ll pay a fee to use Amazon’s warehouses, packaging and shipping, and customer service. One thing that isn’t included? Accounting for Amazon sellers. .

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Court Limits Fiduciary Breach Lawsuit to Claims Against Plan Sponsor and Plan Committee

ThomsonReuters

Luense v. Konica Minolta Business Solutions U.S.A., Inc., 2021 WL 2103231 (D. N.J. 2021). Available at [link]. A federal trial court has dismissed portions of a putative class action lawsuit brought by participants in a 401(k) plan alleging that various individuals and entities violated their fiduciary duties relating to investment fund selection. The participants sued the plan sponsor, the sponsor’s board of directors and its individual members, the plan committee and its individual members, a

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To What Extent Does WHCRA Require Coverage of Reconstructive Surgery Performed by an Out-of-Network Provider?

ThomsonReuters

QUESTION: We understand that the Women’s Health and Cancer Rights Act (WHCRA) requires our plan to cover reconstructive surgery following a mastectomy. Can we impose limitations on the plan’s reimbursement of services performed by an out-of-network provider? ANSWER: Although WHCRA requires group health plans that provide medical and surgical benefits for mastectomy to also provide certain additional mastectomy-related benefits, including reconstructive surgery, it specifically provides that co

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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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Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

Summertime Tax Tips. On June 3, 2021, White House Coronavirus Response Coordinator Jeffery Zients noted that some 63% of adult Americans have received at least one coronavirus (COVID-19) vaccine and 52% of the nation’s adults are fully vaccinated. Also, 12 U.S. states have 70% of adults with at least one vaccine and 28 states and the District of Columbia have fully vaccinated 50% or more of their adult population.

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