Thu.Jul 22, 2021

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Debit vs. Credit in Accounting: What’s the Difference?

xendoo

There are a lot of things people don’t tell you about being a small business owner before you get started. Between serving customers, managing employees, keeping your books up to date , and struggling to build the reputation of your brand, it’s a constant process of learning on the job. . Also, you probably didn’t realize that opening your own business would require you to become an accountant by default.

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Calculation vs. Compliance: A Deep Dive into Two Important Pieces of Your Sales Tax Process

TaxConnex

For most businesses, sales tax is not a top priority. It probably doesn’t even make the top 5 list! But if not managed correctly, it can cause major headaches. Understanding the various aspects of your sales tax process is critical to minimize your risk and to keep your business on solid ground as it relates to sales tax. Now that we are three years post the Wayfair decision, and all states with a state-wide sales tax have enacted economic nexus laws, most businesses with a sales tax obligation

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Advance Child Tax Credit

CapataCPA

Advance Child Tax Credit information: What you need to know The IRS created a Child Tax Credit Update Portal, it is a password-protected tool available to everyone with internet access from any device. You may check on your eligibility, payment status, or unenroll from this benefit. If you have an existing IRS account, you may use. The post Advance Child Tax Credit appeared first on CPA firm in Orange County, CA | CAPATA.

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Sarah T. Ciuk, CPP Appointed to Intuit QuickBooks Accountant Council

AccountingDepartment

Select Panel Advises on Products and Services that Accountants and Their Clients Want Most. Naples, Florida – July 22, 2021 – Today, Intuit, Inc (Nasdaq: INTU) announced that Sarah T. Ciuk, CPP has been named to the company’s U.S. Accountant Council advisory board. Intuit’s mission is to power prosperity around the world, and it accomplishes this through its innovative ecosystem of financial management solutions that serve more than 100 million accounting professionals, small businesses and cons

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Planning Your Restaurants 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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Lower Turnover & Boost Profits By Honoring Maslow's Hierarchy Of Needs

GrowthForceBlog

5 min read. Employees are continuing to contemplate whether they should consider jumping ship, as turnover rates steadily sweep the U.S.

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The 10 Best Property Taxes By States in 2021: Move Here to Save Money!

LyfeAccounting

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5% which you’ll see is almost 10 times the rate that people are paying in other states.

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The 10 States With the Lowest Property Taxes in 2021

LyfeAccounting

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5% which you’ll see is almost 10 times the rate that people are paying in other states.

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How Do We Decide What Plan Number to Assign to a New Plan?

ThomsonReuters

QUESTION: Our company is establishing a new health plan. How do we determine what plan number to assign to it? ANSWER: The number for your new plan will depend on whether your company maintains or has previously maintained another welfare plan. A plan number is a three-digit number that the plan sponsor assigns to differentiate a plan from other plans that it sponsors.

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What Your Team Expects

RitaKeller

“Trust me is easy to say, especially when you mean it, but hard to hear.” – Seth Godin. As a result of all the changes firms have faced in the last sixteen to eighteen months, progressive firms are updating their employee handbooks. Many new and changing guidelines need to be explained and documented so that your team members know what is expected as a member of your firm’s team.

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Latest EPCRS Update Includes Modest Expansions of Correction Options

ThomsonReuters

Revenue Procedure 2021-30 (July 16, 2021). Available at [link]. The IRS’s latest update to its Employee Plans Compliance Resolution System (EPCRS) includes modest expansions of the correction options available under the program. Highlights for 401(k) plans include—. Correcting operational failures under SCP. The correction period for significant operational failures under the Self-Correction Program (SCP) is extended from two to three years.

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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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Protected: Tips for Connecting Power BI + Google Analytics: Make the Most of Your Data

Withum

This content is password protected.

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Health Plan Administrator’s Cross-Plan Offsets Were ERISA Prohibited Transactions and Violated Fiduciary Duty of Loyalty

ThomsonReuters

Lutz Surgical Partners PLLC v. Aetna, Inc., 2021 WL 2549343 (D. N.J. 2021). A federal trial court has ruled in favor of health care providers who alleged that the claims administrator for numerous group health plans breached its ERISA fiduciary duties by engaging in cross-plan offsetting. The court noted that cross-plan offsetting generally refers to the practice of underpaying benefits under some plans (collectively, Plan B) to recover overpaid benefits under other plans (collectively, Plan A).

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The Future of Commercial Real Estate

Withum

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Agencies Issue FAQs (Part 47) About Mandatory Preventive Coverage of HIV PrEP

ThomsonReuters

FAQs About Affordable Care Act Implementation Part 47 (July 19, 2021). Available at [link]. HHS, DOL, and the IRS have jointly issued FAQs about mandated preventive health services coverage for HIV Preexposure Prophylaxis (HIV PrEP). As background, the Affordable Care Act requires group health plans and insurers to provide certain preventive services without cost-sharing, including certain evidence-based items and services in the current recommendations of the United States Preventive Services

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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NJDOT Releases Guidance on PPP Loan Forgiveness and Indirect Cost Rates

Withum

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Unclear Data: Clean Up Your Inventory Process and Create a Spotless Delivery System

Withum

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