Thu.Mar 10, 2022

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Clients Refusing Technology

RitaKeller

“I think that technology is much more mysterious to the people using it than, say, the automobile was. This isn’t an original observation, but a lot of the smart devices people rely on now really do feel like magic to a lot of us.” – Author: Charlie Jane Anders. Firms are finally beginning to see some progress in clients adapting to technology.

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Do you really understand economic nexus for sales tax?

TaxConnex

Businesses have heard a lot about economic nexus over the past few years. But what exactly is economic nexus – and, more importantly, have you kept up with its constant changes in the sales tax realm? Sales tax nexus is the connection your business has with a state or local taxing jurisdiction. It can be physical in the form of one of your offices actually being in a state or other tax jurisdiction.

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Taking a Look at Alternative Financing Options for Consumer Startups

BurklandAssociates

Much has changed in the consumer startup market over the last couple of years. For one, SaaS enterprise investors who had dipped their toes into the consumer space are now Read More. The post Taking a Look at Alternative Financing Options for Consumer Startups appeared first on Burkland.

Finance 130
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ADC Co-Founder, Dennis Najjar, Featured on the "Get The Intel" Podcast

AccountingDepartment

Are you struggling to find someone who can manage your accounting department functions? Not sure which program to consider or switch to? What is the best strategy for preparing your business finances?

Finance 82
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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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AUP Inspections and the NYC Musical and Theatrical Tax Credit

Withum

The COVID-19 pandemic has had a devastating impact throughout the world. New York City was certainly no exception, and perhaps no industry has been impacted as severely as the live theatrical entertainment industry. Looking to aid the continuing economic recovery, the $100 million New York City Musical and Theatrical Production Tax Credit Program is set to have a far-reaching impact on an industry that is often considered the heartbeat of New York City.

Tax 72
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Are Employer-Provided COVID-19 Testing and Vaccines Subject to ERISA?

ThomsonReuters

QUESTION: Our company is considering offering COVID-19 testing and vaccinations to employees at our offices. Will this arrangement be considered an ERISA plan? ANSWER: Whether a program offering COVID-19 testing, vaccinations, or both is subject to ERISA depends on how it is structured and how it operates. In general, an arrangement is an ERISA welfare benefit plan if it is a plan, fund, or program established or maintained by an employer to provide ERISA-listed benefits (including medical ben

Legal 59

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5 Reasons to Leave QuickBooks to Professionals

Pooley Accounting Services

When you first started your business, bookkeeping was 15 minutes at the end of the day. Maybe you updated a spreadsheet and tossed a few receipts in a drawer. When tax time came around, you sent the drawer of receipts and the spreadsheet to your accountant. As the business grew, you had less time for bookkeeping, but more of it to do. You decided to move everything to QuickBooks.

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Why email makes accountants’ lives difficult: Becoming a Google Master

Lockstep

Managing today’s accounting email inboxes with limited collaboration capabilities means teams are using Slack, Teams, productivity tools, phone calls, IMs, and smoke signals to close the books. Collaboration is impossible using out of box email platforms and trying to figure out the slightest advanced function requires IT support and a master’s degree in Googling.

Account 52
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Court Treats Unilateral Amendment Provision as Consent to Plan’s Arbitration Provision

ThomsonReuters

Holmes v. Baptist Health South Florida, 2022 WL 180638 (S.D. Fla. 2022). Available at [link]. Current and former participants in a 403(b) plan filed a lawsuit claiming that the plan’s fiduciaries violated their ERISA fiduciary duties in selecting and reviewing the plan’s investment funds. In response, the fiduciaries asked the court to require that the dispute be arbitrated, pointing to a plan provision requiring that plan-related claims be resolved exclusively by binding arbitration.

Florida 52
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Delays Continue – The IRS, the California Franchise Tax Board, and Tax Software

KROST

There are so many tax reporting deadlines and for the past two years, every time we came closer to the next deadline, there was some reason (beyond our control) for delays. Coming into this tax season, we were hopeful that things would be better. With reasons beyond our control, we are expecting more delays. There has been significant reporting in the news about these issues, so hopefully, you were already aware of the difficulties that are affecting every firm in our industry.

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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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Last Piece of the Puzzle: IRS General Instructions Complete Guidance for Filing 2022 Forms 1099-R and 5498

ThomsonReuters

IRS Form 1099-R (Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.) (2022); IRS Form 5498 (IRA Contribution Information) (2022); Instructions for Forms 1099-R and 5498 (2022); General Instructions for Certain Information Returns (Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G) (2022).

Tax 52
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Kelly Clarkson Divorce Settled

FraudFiles

More celebrity divorce news. The nearly two-year divorce fight between Kelly Clarkson and Brandon Blackstock has been settled. Kelly will have primary custody of their children, and Brandon will have them one weekend a month. Kelly will keep Warren Peak Ranch in Montana (worth about $17.75 million). Brandon can stay there until June 1, but has to pay $12,500 rent per month.

Montana 52
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In Non-Russia-Ukraine War News, KPMG UK Screwed Up Another Audit

Going Concern

Let’s take a break from what’s going on right now in Ukraine to tell you something we’ve written a lot about in recent years and that we enjoy writing about: KPMG UK being bad at auditing. Michael Frankish. While we await KPMG’s punishment for that whole Carillion debacle , the Financial Reporting Council announced on March 8 that it had fined the House of Klynveld £1,250,000 and former KPMG audit director Michael Frankish £50,000 for mishaps in the 2015 and 2016 audits of Revolution Bars, a com

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From electric vehicles to solar panels: recommending “go-green” tax incentives to accounting clients

ThomsonReuters

If your tax and accounting firm’s clients are concerned about increasing gas and energy costs, “go-green” tax credits will reduce their carbon footprint and save them money in the long run. Tell your clients about the qualified plug-in electric drive motor vehicle tax credit (EV tax credit) and the residential energy efficient property credit. Electric vehicle (EV) tax credits.

Tax 52
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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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HHS Notice Reiterates ACA Section 1557’s Prohibition of Gender Identity Discrimination

ThomsonReuters

HHS Notice and Guidance on Gender Affirming Care, Civil Rights, and Patient Privacy (Mar. 2, 2022); Press Release: Statement by HHS Secretary Xavier Becerra Reaffirming HHS Support and Protection for LGBTQI+ Children and Youth (Mar. 2, 2022). Notice. Press Release. HHS has issued a notice providing additional guidance on federal civil rights protections and federal health privacy laws that apply to gender affirming care for transgender and gender nonconforming youth.

Texas 52