RogerRossmeisl

NOVEMBER 19, 2020

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages: A current deduction from income to the employer for contributions to the plan, Tax-free buildup of the value of plan investments, and The deferral of income (augmented by investment earnings) to employees until funds are distributed.

CPA 243

CPA Tax Start-ups business tax 243

TaxConnex

NOVEMBER 19, 2020

When it comes to managing sales tax compliance, for most businesses there are really three ways you can do it. Attempt to manage everything in-house. Outsource sales tax compliance. Do nothing and roll the dice. So what happens if you attempt to manage the process in-house but lack the expertise and bandwidth to manage it effectively? Or what if you do nothing and decide to roll the dice?

Sales 216

Sales Tax audit Legal 216

PYMNTS

NOVEMBER 19, 2020

Citi and Mastercard are teaming up as network partners for the digital checking and savings account Citi Plex on Google Pay, available for both Android and iOS. . Alpesh Chokshi, head of business development, Citi Global Consumer Bank, said in a statement on Wednesday (Nov. 18) that today’s consumers seek money management that is like their own lives — a fast-moving “integrated experience.”.

Account 113

Account accountant accounted accounting and finance 113

ThomsonReuters

NOVEMBER 19, 2020

IRS Information Letter 2020-0024 (Sept. 8, 2020). Available at [link]. The IRS has released an information letter responding to an inquiry from a qualified transportation plan participant with unused transit benefits. Explaining that he was now driving to work instead of taking public transportation due to the COVID-19 pandemic, the participant asked whether his unused benefits could be rolled over to a parking account.

Transportation 98

Transportation Government Tax Account 98

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PYMNTS

NOVEMBER 19, 2020

Venture capital cash has been flowing this year to companies that plan to buy up sellers on Amazon and help them grow. In particular, such deals have targeted companies in the Fulfillment by Amazon program, in which the eCommerce giant warehouses a company’s products and then takes care of packing, shipping and providing customer service. The latest such deal has Berlin-based SellerX landing 100 million euros ($118 million) of financing, reported Tech.eu.

Start-ups 112

Start-ups Finance Technology Retail 112

Withum

NOVEMBER 19, 2020

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131

SkagitCountyTaxServices

NOVEMBER 19, 2020

A week past the election, and still plenty of disagreement about the results. That means this is another week where you have the opportunity for the other chumps out there to get massively distracted by the political war games … while you go about quietly building your Skagit County business, your team, and your financial outcomes. Only you decide these things.

tax preparation 52

tax preparation CPA Gaming Tax 52

PYMNTS

NOVEMBER 19, 2020

Securities and Exchange Commission (SEC) Chairman Jay Clayton thinks inefficiencies in traditional payments are boosting favorability for bitcoin, a report from Coindesk says. Clayton, speaking on CNBC, said bitcoin's popularity came from that disappointment in mainstream payments. "What we are seeing is that our current payment mechanisms domestically and internationally have inefficiencies.

Government 105

Government 105

xendoo

NOVEMBER 19, 2020

The LLC (limited liability company) is a popular alternative to a sole proprietorship set-up for single-owner businesses. It gives you the same simplified income processing that a sole proprietorship enjoys, plus financial and legal protection similar to a corporation’s. Here’s how the owner’s salary and taxes are handled for a single-member LLC.

Tax 52

Tax payroll tax tax return income tax 52

PYMNTS

NOVEMBER 19, 2020

While optimizing B2B payments is often about combating friction at the moment of transaction, the truth is, the B2B payment experience often happens way before any money is ever actually moved. As more seller organizations embrace the B2B eCommerce model, they're quickly coming to realize that for buyers, the B2B payment experience begins right at the moment of onboarding.

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B2B B2C Sales Start-ups 105

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.

ThomsonReuters

NOVEMBER 19, 2020

HHS Resolution Agreements: City of New Haven (Oct. 13, 2020); Aetna Life Ins. Co. (Oct. 1, 2020); HHS News Releases: City of New Haven (Oct. 30, 2020); Aetna Life Ins. Co. (Oct. 28, 2020). New Haven. Aetna. HHS’s Office for Civil Rights (OCR) has announced two settlements resolving alleged violations of HIPAA’s privacy and security rules. The first settlement involved a health insurer that reported three separate breaches affecting protected health information (PHI) of more than 18,000 individua

Tax 52

Tax Account accountant accounted 52

PYMNTS

NOVEMBER 19, 2020

PayPal is upping its mobile payments game. PayPal on Thursday (Nov. 19) unveiled a major upgrade to Xoom , enabling customers across the United States to use the mobile payments app to send money straight to the bank account of a family member, friend or another recipient. The move by the payments giant to enhance its digital game comes as the coronavirus pandemic has transformed the typically ordinary process of standing in line at a money transfer store into a potential health hazard.

Gaming 105

Gaming Account accountant accounted 105

ThomsonReuters

NOVEMBER 19, 2020

QUESTION: Our company has a qualified transportation plan that allows employees to purchase parking and transit benefits with pre-tax compensation reductions. Because of the COVID-19 pandemic, many of the plan’s participants are now working remotely or have been laid off. How can we help those employees avoid losing amounts they have set aside to purchase transportation benefits?

Transportation 52

Transportation Tax Government Account 52

PYMNTS

NOVEMBER 19, 2020

This week’s round-up of the latest innovations in payment rails for B2B payments shows a key focus on real-time transactions and embrace of emerging, faster payment rails. That includes advancements in Canada's upcoming Real-Time Rail, as well as adoption by Transcard of Mastercard's Track Business Payment Service to facilitate real-time, account-to-account transfers for businesses.

B2B 104

B2B Technology Start-ups Account 104

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

Technology

ThomsonReuters

NOVEMBER 19, 2020

Registration Requirements for Pooled Plan Providers, 29 CFR 2510, 85 Fed. Reg. 72934 (Nov. 16, 2020). Regulations. News Release. The DOL has issued final regulations establishing the registration requirements for pooled plan providers (PPPs) who offer and operate pooled employer plans (PEPs). PEPs are individual account plans (including 401(k) plans) established or maintained for the purpose of providing benefits to the employees of two or more employers that do not have a common interest other

Tax 52

Tax Account accountant accounted 52

PYMNTS

NOVEMBER 19, 2020

The pandemic has had an impact on digital wallet usage – in other words, up and to the right. Blackhawk Network noted that mobile wallet adoption in the U.S. stood at 38 percent usage among consumers before the pandemic, and as late as this fall it stood at 55 percent. And 88 percent of shoppers surveyed across eight countries use digital wallets. Stats like that are in the news this week as Google Pay, by virtue of a revamp , is on its way to becoming a hyperconnected “super app” – tied to smar

Gaming 101

Gaming Retail Technology Account 101

ThomsonReuters

NOVEMBER 19, 2020

HHS Resolution Agreements: City of New Haven (Oct. 13, 2020); Aetna Life Ins. Co. (Oct. 1, 2020); HHS News Releases: City of New Haven (Oct. 30, 2020); Aetna Life Ins. Co. (Oct. 28, 2020). New Haven. Aetna. HHS’s Office for Civil Rights (OCR) has announced two settlements resolving alleged violations of HIPAA’s privacy and security rules. The first settlement involved a health insurer that reported three separate breaches affecting protected health information (PHI) of more than 18,000 individua

Tax 52

Tax Account accountant accounted 52

PYMNTS

NOVEMBER 19, 2020

Global payment processor Payroc announced Wednesday (Nov. 18) in a company press release emailed to PYMNTS that it has acquired Bluestone Payments. Bluestone Payments, founded by Linda Rossetti and launched in 2006, connects merchants in niche markets to payments programs through a referral system. Rossetti will join Payroc as executive vice president of Strategic Initiatives, and she will also continue to serve as Bluestone’s president, the release stated.

Technology 100

Technology 100

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Technology

ThomsonReuters

NOVEMBER 19, 2020

IRS Information Letter 2020-0024 (Sept. 8, 2020). Available at [link]. The IRS has released an information letter responding to an inquiry from a qualified transportation plan participant with unused transit benefits. Explaining that he was now driving to work instead of taking public transportation due to the COVID-19 pandemic, the participant asked whether his unused benefits could be rolled over to a parking account.

Transportation 52

Transportation Government Tax Account 52

PYMNTS

NOVEMBER 19, 2020

Afresh Technologies has raised $13 million in a Series A extension round to expand its fresh food management technology that helps grocers reduce food waste. Afresh said the round was sparked by investor interest due to Afresh’s growing list of customers. The round was led by Food Retail Ventures and joined by existing investors Innovation Endeavors , Maersk Growth , and Baseline Ventures.

Technology 97

Technology Retail Sales Account 97

RitaKeller

NOVEMBER 19, 2020

“Immature poets imitate, mature poets steal.” – T. S. Eliot. It’s been going on for decades. There are people who get paid to help you steal people from your competitors. Most of them are incentivized recruiters who use all types of methods to find experienced accountants who might be dissatisfied with their current employment status.

Account 45

Account accountant accounted 45

PYMNTS

NOVEMBER 19, 2020

With all of the problems and challenges 2020 has thrown at us, the last thing anyone needs is a nagging perceptual rift between payees and payers about what “instant” means. Yet, there it is. “The majority of consumers, at 58.4 percent, and microbusinesses, at 70.8 percent, state that most of their non-government payments come through non-instant methods and take more than a day to receive.

Manufacturing 94

Manufacturing Government Account accountant 94

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Technology

IgniteSpot

NOVEMBER 19, 2020

Technology 98

Technology Account accountant accounted 98

PYMNTS

NOVEMBER 19, 2020

Facebook could soon be staring down a lawsuit as the Federal Trade Commission and numerous states attorneys general finish up one or more antitrust cases against the social media giant, Reuters reports. One source told Reuters that FTC staff has recommended that commissioners sue Facebook in federal court so as to let a group of states led by New York join in the suit.

New York 92

New York Maine Legal 92

Withum

NOVEMBER 19, 2020

Massachusetts 80

Massachusetts 80

PYMNTS

NOVEMBER 19, 2020

Credit unions (CUs) have been riding high in recent years, with one October report finding that global CU membership hit an all-time high of 291 million last year. The space has added 107 million members over the past decade, with 17 million joining just in 2019. This represents 59 percent growth over the past 10 years, much of it buoyed by a surge in sign-ups across the Oceania region.

Technology 91

Technology Alabama Account accountant 91

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Withum

NOVEMBER 19, 2020

Government 59

Government Tax tax planning 59

PYMNTS

NOVEMBER 19, 2020

Online retailer Farfetch is out to prove that the market for luxury merchandise fits fine with used goods. The eCommerce company is launching its Farfetch Second Life program in the U.S., according to Elle , a fashion industry publication. The move comes as luxury brands like Prada and Coach are reissuing or playing off styles from years past. On top of that, the pandemic has consumers reaching into their closets to check out what they already own.

Retail 90

Retail Start-ups 90

Withum

NOVEMBER 19, 2020

52

52

PYMNTS

NOVEMBER 19, 2020

Restaurant eCommerce platform Olo has launched several features to support restaurants as they adopt and expand their digital operations, Olo announced in a Thursday (Nov. 19) press release emailed to PYMNTS. The cloud-based platform introduced Curbside Arrival Notifications and a Dine-In support mode, available today to all users at no extra cost. With Curbside Arrival Notifications, restaurants that use Expo and Curbside will be alerted when a customer arrives, so that a staff member can bring

Sales 90

Sales 90

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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.

Finance