Tue.Aug 03, 2021

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IRS Audits May Be Increasing, So Be Prepared

RogerRossmeisl

The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just 0.5% of individual tax returns were audited in 2020.

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What's New in Sales and Use Tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. So what has the pandemic done to states’ coffers? States themselves don’t seem to know yet, according to a recent survey co-sponsored by the Tax Policy Center. Most states were unable to fully assess the impact of the pandemic on their budgets – due in part due to shifting tax deadlines – but most states did wind up with higher revenues than they foresaw some 14

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How Fraud Perpetrators Target Military Personnel and Veterans

RogerRossmeisl

According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their spouses and dependents also suffered big financial losses to fraud last year. In fact, in 2020, military consumers lost more than the general public to fraud — a median $600 compared to $311 for nonmilitary consumers.

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3 Important Efficiency Metrics for SaaS Startups

BurklandAssociates

Important efficiency metrics for SaaS startups include Sales Efficiency (aka the Magic Number), Human Capital Efficiency, and Capital Efficiency. The post 3 Important Efficiency Metrics for SaaS Startups appeared first on Burkland.

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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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Business Losses and PPP Loans: Understanding Tax Implications for S Corp Shareholders

CTP

Business losses have become all-too common during COVID-19. Though new tax benefits have been introduced, understanding whether these will benefit a specific business can be a complicated process. One common COVID-era benefit is the Paycheck Protection Program (PPP) loan. Businesses celebrated the news that PPP funds are tax exempt, so they wouldn’t have to pay […].

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How Much Does a Bookkeeper Cost?

xendoo

Though bookkeeping may not be the most exciting part of running a business, it’s arguably one of the most important. Bookkeeping can help you maintain your financial records, track expenditures and revenue, and provide an up-to-date snapshot of the growth and overall health of your business. . Bookkeeping is the make-or-break factor for a business, sometimes determining the success or failure of a company.

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Can My Startup Business Receive the Employer Retention Credit?

Withum

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New SBA PPP Loan Forgiveness Portal | Apply for Forgiveness Easier

LyfeAccounting

The SBA recently launched a direct PPP loan forgiveness portal in an effort to streamline the loan forgiveness process. This is really good news, in our opinion, especially if you applied for the first or second draws of the Paycheck Protection Program. We know many of you have had issues applying for PPP loan forgiveness through your participating lender or bank. .

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Five keys to boosting your business confidence

ThomsonReuters

Let’s be honest. Most accountants are not risk takers. In this profession, confidence is typically built over time and through a wide variety of experiences. When you start your own small firm, the confidence you have as a business owner may not be as strong as the confidence you have as an accountant. However, you can give yourself a boost of self-assuredness with these five keys to growing your business confidence.

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PPP Loan Forgiveness Deadline is September 2021

LyfeAccounting

The PPP loan forgiveness deadline is quickly approaching for anyone who got the first round of PPP in April or May. . In fact, the PPP loan forgiveness deadline will likely be August 2021 or September 2021, depending on when you exactly received your loan. So, you have about 1-2 months to apply for PPP loan forgiveness if you haven’t already. . Interestingly enough, according to the SBA , as of May 24, 2021, nearly 2 million small businesses have yet to submit their PPP loan forgiveness applica

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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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The Childcare Hurdle

RitaKeller

“Working from home doesn’t solve the childcare problem.” – Suzanne Lucas. Want to differentiate your firm and be able to attract career-minded CPAs? Consider offering some sort of childcare benefit. While we often believe that receiving substantial unemployment benefits is the reason people quite working, many are saying the real factor is the high cost, or even the existence, of childcare.

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The Trustee’s Guide to the Form 5500

Withum

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10 Facts About the Pass-Through Deduction for Qualified Business Income

RogerRossmeisl

Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or §199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed by trusts and estates.

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What You Need to Know About Form 5500

Withum

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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