Thu.Jul 08, 2021

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What Sports Can Teach Us About Company Culture in Business

GrowthForceBlog

5 min read. Do You Have ‘Staff’ or a ‘Team’?

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Preparing Your Business for Sales Tax Holidays

TaxConnex

Many states use sales tax holidays to waive or reduce sales tax on various items. These holidays can be annual or even two or more times a year. Online purchases usually receive the same tax treatment during these holidays as in-person purchases; remote sellers aren’t permitted to charge tax on qualifying goods during sales tax holidays, but how do you know where this is happening and when or when not to charge sales tax?

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What Constitutes an Involuntary Termination of Employment for Purposes of the ARPA COBRA Premium Subsidy?

ThomsonReuters

QUESTION: I understand that to be eligible for the ARPA COBRA premium subsidy, an employee must have lost group health plan coverage due to an involuntary termination of employment or a reduction of hours. For this purpose, when is a termination of employment considered involuntary? ANSWER: The 100% COBRA premium subsidy created by the American Rescue Plan Act of 2021 (ARPA) (see our Checkpoint article ) is available when certain employees (and their families) lose health coverage due to the

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Build Business Credit By Befriending A Bank

inDinero Accounting

It’s time to grow, hire employees, rent a larger space, or purchase a company car. You may have started your business with friends and family funds, but now, it’s time to take out a loan with good terms. Any business loan or line of credit from a bank—brick-and-mortar or online—will carry more favorable terms if you have a decent business credit scor e.

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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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Technology is Enabling Centralized Global Statutory Reporting

ThomsonReuters

Multinational enterprises (MNEs) began using centralized shared services centers three decades ago to standardize and improve efficiency in back-office functions such as finance & accounting, human resources, and IT. Today, finance is the corporate function most commonly managed this way — but longstanding obstacles have prevented the model from being extended to statutory reporting and tax compliance.

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Thoughts on How Skagit County Business Owners Can Achieve Business Solvency

SkagitCountyTaxServices

With our nation celebrating its 245th birthday on Sunday, and all of this talk about “independence” flying around, I have a question for you — one that I think you should think hard about: Are you achieving the independence you wanted in your business? As you know, it’s hard — and it’s LONELY — to be a Skagit County business owner in this environment.

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How to Start a Business Without Money (2021 Tips & Ideas)

LyfeAccounting

How to start a business without money? Let us start out by being completely real with you. Building a new business is hard and building a business without money is even harder. But it’s definitely possible. In fact, when we started our first business, the only money one of our founders had was a $250 deposit into a business checking account. And to be honest, he said he never even planned to use that money.

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Is your firm driving change or bringing up the rear?

ThomsonReuters

Rapid regulatory change, evolving customer needs, and tight competition for talent is forcing tax and accounting firms to rethink their technology and software tools. . Is your tax and accounting firm keeping up with the rapid pace of change or falling behind? . 90% of accountants now feel there is a cultural shift in accountancy leaning toward technological adoption. .

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Supreme Court issues Landmark 6-3 Decision with Major Impact for The Not-For-Profit Sector

Withum

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Looking ahead with a focus on advisory

ThomsonReuters

Although your firm’s tax compliance practice is healthy and well-established, you may have a desire to grow into a new, larger role for your clients. Taking on the role of trusted advisor to your clients and offering advisory services is the way of the future. . This is not some underwear gnome’s profit plan – this is based on facts. Industry experts predict that 78% of finance processes can be automated, leading to reduced revenue.

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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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3 Withum Team Members Named to NJBIZ 2021 Accounting Power 50

Withum

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What’s stopping your staff from being more client-focused?

ThomsonReuters

Are mundane, day-to-day tasks sapping your staff’s will to work? Do your employees find their work meaningful and fulfilling? If your staff is looking more exhausted than excited, give them the cutting-edge tools they’ve been begging for! . Long gone are the days of sitting around a conference table, cutting coupons for extensions and estimates, copying tax returns, collating, stapling, and putting them in the mail.

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Data Leakage Prevention: Security Features to Implement Now

Withum

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Using “Dummy Code” to Pass Administrative Fees Through to Health Plan May Be Fiduciary Breach

ThomsonReuters

Peters v. Aetna Inc., 2021 WL 2546412 (4th Cir. 2021). Available at [link]. A participant in her employer’s self-insured ERISA group health plan sued the plan’s claims administrator and a subcontractor that provided access to chiropractic and other services, challenging certain billing practices. She alleged that when a participant was treated by a health care provider in the subcontractor’s network, the charge for the service was bundled with the subcontractor’s administrative fee using a “dum

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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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Avoiding Negative Effects of Poor Inventory Management Processes

Withum

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IRS Updates Internal Summary of Hardship Distribution Rules

ThomsonReuters

Issue Snapshot: Hardship Distributions From 401(k) Plans (June 23, 2021). Available at [link]. The IRS has updated its “Issue Snapshot” summarizing the requirements for hardship distributions from 401(k) plans. Issue Snapshots are documents created for use by IRS employees that analyze tax issues and provide links to additional resources, including Code sections and regulations, revenue rulings, and IRS webpages.

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