Wed.Jan 13, 2021

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Tools and Resources for Early-Stage SaaS Startups

BurklandAssociates

The Burkland Fractional CFO team has compiled a set of tools and resources to help early-stage SaaS Startups. You will find helpful spreadsheets, including a tool to track customer contracts Read More. The post Tools and Resources for Early-Stage SaaS Startups appeared first on Burkland.

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New PPP Loan

Bharmal&Associates

Did you miss out on the first two opportunities to receive your tax-free Paycheck Protection Program (PPP) cash? Many did miss out. Why? One reason: the word “loan.” Who wants a loan? No one. Well, almost no one. But who wants a cash gift, tax-free? If you do, read on for the details. But first, you should know that the big picture works like this: You obtain your PPP tax-free monies from a lender (it’s called a “loan,” but watch that word disappear as you read this letter).

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AI Rides To Rescue Of Analog Accounting Processes

PYMNTS

The problems are analog. The paper check, the paper invoice, slow accounts receivable (AR) processes and collecting on aging receivables can be difficult for even the most seasoned AR professionals. But digital-era help is on the way. Michael Shields , business line executive at FIS , told PYMNTS in a recent interview that artificial intelligence (AI) can streamline and modernize the order-to-cash process and improve collections on outstanding invoices, freeing up resources for innovation and im

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New Stimulus Law Grants Eight Tax Breaks for 1040 Filers

Bharmal&Associates

As you doubtlessly know, Congress recently passed a massive new stimulus bill that was enacted into law on December 27, 2020. Most of the public’s attention has been focused on the bill’s authorization of additional stimulus checks and new PPP loans and other aid targeted to struggling businesses. But Form 1040 American taxpayers who are not in business are struggling as well.

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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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Surcharges Re-Enter The Merchant Transaction Fee Debate

PYMNTS

As COVID has battered the economy and changed the way merchants do business, the time has come for them to analyze their clients and customers to see if recouping some or all of their transactional costs makes sense. While so-called surcharging has been around for nearly a decade, and credit card processing fees have more than doubled during that time, the current climate has seen a growing number of businesses deciding to pass along some of the costs.

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COVID-19 Grants: Taxable or Not?

Bharmal&Associates

Billions of dollars in grants are being doled out to individuals and businesses in the wake of the COVID-19 pandemic. The recently enacted second stimulus bill has increased these grants, including $25 billion in rental assistance for individuals, a new round of Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) advances, and new grants for shuttered entertainment venues such as movie theaters.

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Sales Tax and Economic Nexus

KROST

These days, anybody who sells goods or provides services to somebody outside of their home state should ask themselves, “Do I need to collect sales tax?” The correct answer is always, “Good question!”. However, the best way to get a useful answer is to start with a concept closely related to sales tax, namely “use tax.” Use tax is just like sales tax, except that it is not collected by the seller of a good or service.

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Visa’s Phelan: SMBs Remain Optimistic; Data Shows Digital Tools Bring New Customers

PYMNTS

The pandemic was a crushing blow for SMBs, with many of them pushed to the edge of survival and beyond. Still others rolled up their sleeves, pivoted their business models and embraced the digital-first economy. It’s a smart bet that for all of them, it was and still is a challenge to stay in business. Considering the circumstances, it’s impressive that so many of them maintain an optimistic attitude in the New Year, which is exactly the story told in Visa ’s new Back to Business Study — 2021 Ou

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A Deeper Dive into the Unintended Consequences of the Proposed Section 1031 Regulations

KROST

This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue , titled “A Deeper Dive into the Unintended Consequences of the Proposed Section 1031 Regulations” by Jonathan Louie. In 2017, the Tax Cuts and Jobs Act (TCJA) amended Internal Revenue Code (IRC) Section 1031 to limit nonrecognition treatment to exchanges of real property for 1031 Exchanges completed after December 31, 2017.

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Billtrust Finishes SPAC Merger To Go Public

PYMNTS

Billtrust , which works in accounts receivable automation and integrated B2B payments, has completed a special purpose acquisition company (SPAC) merger with South Mountain Merger Corp. , according to a press release. A SPAC merger means that the company is allying with a blank-check investment firm to help it go public without undergoing the process of an initial public offering (IPO).

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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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[WEBINAR] PPP Second Draw Loan Program & the Revised Employee Retention Credit – Eligibility and Process

KROST

Paren Knadjian ( Practice Leader, M&A, and Capital Markets, PPP Forgiveness ) and Jeff Kamin, CPA (Manager, Accounting, ERTC) will host a free webinar on the PPP Second Draw Program & Employee Retention Credits. They will review the details of the recently passed Coronavirus Response & Relief Supplemental Appropriations Act including: • Revised PPP rules and Second Draw PPP Loans – eligibility, calculations, applications process. • Tax provisions related to government-backed loans

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Bitcoin Daily: 20 Pct Of Bitcoin Trapped In ‘Lost’ Wallets; Goldman Says Bitcoin Is Maturing

PYMNTS

Goldman Sachs Global Head of Commodities Research Jeff Currie told CNBC the bitcoin market is maturing. “I think in any nascent market you get that volatility and those risks that are associated with it,” he said, according to CNBC, following a sharp tumble on Monday (Jan. 11), when it fell below $31,000, just days after breaching $41,000. Currie also noted that stability will come from increased institutional investment.

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News From the AICPA

RitaKeller

“Action is the antidote to despair.” – Joan Baez. AICPA Encourages Firms to Aggressively Advance PPP Applications. SBA Expected to Reopen for All Lenders by Friday, Jan. 15. NEW YORK (Jan. 13, 2021) –The American Institute of CPAs (AICPA) expects the federal government to open up the application process for all lenders participating in the latest round of the Paycheck Protection Program by Friday, and encourages CPA firms to advance the application process for small business cl

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Affirm IPO Now On Track To Raise More Than $1.1 Billion

PYMNTS

Affirm , which provides installment payments to online consumers, priced its planned initial public offering (IPO) at $49 per share, higher than its marketed range of $41 to $44 per share, and is on track to raise over $1.1 billion, Bloomberg reported. The information comes from anonymous sources quoted by Bloomberg. Affirm, which will be the first major tech listing of the year, boosted its range earlier from $33 to $38 up to $41 to $44, in a filing with the Securities and Exchanges Commission

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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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CAP Audit- Is Your Union Ready?

Withum

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Google Allocates $3 Million To Counter Vaccine Misinformation

PYMNTS

The Google News Initiative (GNI) is rolling out a new open fund for up to $3 million to combat misinformation about COVID-19 vaccines, a blog post says. The " COVID-19 Vaccine Counter-Misinformation Open Fund " will aim to fight the misinformation that has been used to target specific demographics. The fund will be accepting applications from groups or companies attempting to broaden the audience of fact-checking, as some research suggests that the audiences who see the misinformation aren't the

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Tax Consequences of Lease Modifications under COVID-19

Withum

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Swap.com Uses Data Analytics To Fight Post-Holiday Fraud Surge

PYMNTS

The 2020 holiday season was one for the history books, drastically different due to the pandemic limiting consumers’ in-person shopping experiences. Experts predicted that up to $190 billion would be spent online this year, a 35.8 percent increase from the previous year. The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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DCAA Compliant Accounting Services for Government Contractors

AccountingDepartment

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Walgreens To Roll Out Co-Branded Cards With Mastercard, Synchrony

PYMNTS

Amid its continuing commitment to provide healthcare offerings and benefits to shoppers, Walgreens is growing its financial services offering with the help of Synchrony and Mastercard. In the months to come, the retailer will roll out Synchrony-issued credit cards in addition to a prepaid debit card that will be fueled by the Mastercard network, according to a Wednesday (Jan. 13) announcement.

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Microsoft Latest News: A Year in Review

Withum

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Worker Re-Lo Stats Support Argument That Remote WFH Is Here To Stay

PYMNTS

Whether it’s Tesla CEO Elon Musk moving to Austin, Texas or large tech companies like Oracle pulling out of Silicon Valley, news of the great pandemic migration has been on the rise for months. As much as big names make headlines, the ongoing relocation trend is actually being driven by the so-called rank-and-file remote workforce who have embraced their newfound work-from-home (WFH) status and chosen to seek greener pastures elsewhere.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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What are Tax Deductions? | CPA Explains How Taxes Work

LyfeAccounting

?. People are paying WAY too much in taxes because they are missing out on tax deductions. More than 2 million people overpay on their income taxes every year because they are missing out on tax deductions that can LEGALLY lower their tax liability. I even recently had a client who made over $500,000 in revenue and paid taxes on the FULL amount of revenue he received.

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FinTech Rapyd Closes $300 Million Series D Led By Coatue

PYMNTS

Business-to-Business FinTech-as-a-Service (FaaS) startup Rapyd has notched $300 million in a Series D funding round led by Coatue and including both new and existing investors. “The demand for online payments has skyrocketed following the restrictions due to the effects of COVID, and as a company, we are well placed to provide businesses across the globe with the solutions they need and to get them up and running fast,” Rapyd Co-Founder and CEO Arik Shtilman said in a Wednesday (Jan. 13) press r

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Adobe: Holiday Online Shopping Topped $188.2 Billion

PYMNTS

The 2020 holiday season was rife with online shopping, which hit a record $188.2 billion, or two years' worth of growth, according to an analysis from Adobe Digital Insights (ADI). That number represents a 32 percent increase over the same time the previous year, ADI said. The number of online spending during the two-month holiday shopping period was, for the first time, over $1 billion every day, according to ADI, which shows that the predominant mode of spending over the past year because of t

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Birmingham Bank Launches From Bira Bank To Serve SMBs

PYMNTS

Birmingham Bank is launching in the U.K. to help serve small- to medium-sized businesses (SMBs), according to a report from BDaily. The bank is being launched following the acquisition of Bira Bank by Lee Bushell , chairman of the Bushell Investment Group , the report stated. That acquisition got regulatory approval in the latter half of 2020. The new bank, according to the report, will be the first in over 100 years to bear Birmingham's name.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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PSCU Extends Payment Processing Collaboration With Fiserv

PYMNTS

FinTech credit union service organization (CUSO) PSCU said Wednesday (Jan. 13) that it has extended its payment processing arrangement with Fiserv. The partnership between the two entities started in 1989, according to an announcement. PSCU has grown from a transaction processing service reseller to a FinTech provider serving credit unions (CUs) and their members since the start of that partnership over three decades ago, according to the announcement.

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Gett Raises $115 Million For On-Demand Business Ride-Hailing Platform

PYMNTS

Ground travel software company Gett has completed a funding round with $115 million, the company wrote in a blog post. The company said $15 million of that amount is an extension of a $100 million round from June to boost interest from new investor Pelham Capital alongside the company's existing investors, the post stated. With the proceeds, the company plans to speed up its Software-as-a-Service (SaaS) platform and expand worldwide, according to the post.

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Toshiba Rolls Out Unified Commerce Platform For Retailers

PYMNTS

Toshiba Global Commerce Solutions unveiled its ELERA unified commerce platform that will let merchants operate without the bounds of traditional retail IT infrastructures, according to a Wednesday (Jan. 13) announcement emailed to PYMNTS. Toshiba Global Commerce Solutions President and CEO Rance Poehler said in the announcement that 2020 was among the most trying years in recent recollection for merchants, but it has “been amazing to see how many rose to the challenge of serving their communitie

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Poshmark IPO Puts Spotlight On reCommerce

PYMNTS

The 2021 initial public offering (IPO) season is off to a fast start for the payments and commerce business, including an expected filing next week from reCommerce platform Poshmark. The closely-watched filing should list sometime before the end of the month, according to reports, and it has put a spotlight on the reCommerce category. The social media-focused platform company’s business model is simple: it’s a retail destination for consumers looking to sell their second-hand apparel and other g

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.