Accounting Insight

MARCH 13, 2023

The last 3 years have had a continuous impact on the health of small businesses, and it’s no secret that recent events and rising costs will only add to their existing pressures. With 99.2% of the total private businesses in the UK being small or medium, our economy relies heavily on them and their success. Ensuring your small businesses clients can survive the continued economic turbulence, and ultimately thrive, will be in everyone’s best interests.

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CPA Practice

MARCH 13, 2023

A combination of low minimum wages and a rapidly increasing cost of living have made passive income a more attractive proposition than ever before. What is passive income? Passive income is considered income that is not attached to a particular wage or salary. The IRS describes passive income as ‘income that requires minimal effort to obtain,’ and considers two types of income passive: Rental income Business activity where one does not materially participate.

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Going Concern

MARCH 13, 2023

The fallout from the collapse of Silicon Valley Bank — the 16th largest bank in the country up until Friday — is only just beginning and while pundits and scribes at better publications than this one dutifully debate why it happened and what comes next , we’re here to point out the hilarious resume of SVB Securities Chief Administrative Officer Joseph Gentile: His next employer better watch out (via SVB Securities ) It’s worth noting — and in case you weren’t

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CPA Practice

MARCH 13, 2023

Thanks to the new SECURE Act 2.0, a follow-up to the first SECURE Act passed in 2019, you may be able to postpone required minimum distributions (RMDs) from retirement accounts and pay a lower tax penalty if you mess up. These SECURE Act 2.0 changes take effect in 2023. Background : Generally, you must begin taking RMDs from qualified plans and traditional IRAs (but not Roth IRAs) no later than April 1 of the year following the year you’ve attained a specified age threshold.

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Advertiser: Paycor

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Withum

MARCH 13, 2023

Withum is proud to share that the San Fernando Valley Business Journal (SFVBJ) has named Steve Martini and Chris Passmore on their Most Trusted Advisors list for 2023. Steve Martini has over 30 years of experience focusing on business consulting and management advisory services. He is a dedicated philanthropist, having served on the Los Angeles Police Department Executive Strategic Planning Group for the L.A.P.D.

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Cherry Bekaert

MARCH 13, 2023

In this episode, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contractor Industry practice , and Brian Kirk , Senior Manager in the Firm’s Information Assurance & Cybersecurity practice, share an update on the status of the final rule of the Department of Defense (DoD) Cybersecurity Maturity Model Certification (CMMC) 2.0 program and what contractors should be doing now to prepare.

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Government 97

KROST

MARCH 13, 2023

Los Angeles, California – KROST’s Assurance & Advisory Principal, Keith Hamasaki, CPA, has been recognized by the Los Angeles Business Journal as a Leader of Influence: Minority CPA. This recognition highlights the outstanding works of local accountants and their accomplishments throughout their careers and practices. Los Angeles is a leading figurehead when it comes to Read the full article.

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Withum

MARCH 13, 2023

Explore Other Episodes The post The Platinum Rule With James Goodnow appeared first on Withum.

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Insightful Accountant

MARCH 13, 2023

Just time for one last tip before qualified nominees start the formal application process for Top 100.

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Withum

MARCH 13, 2023

Venture Capital (VC) firms are a major funding source for e-commerce companies; however, funding has been on a decline compared to the record-setting 2021 levels. According to Crunchbase , Q4 2022 declined 13% compared to Q3 2022, and for the 2022 calendar year, funding has shown a 36% decrease compared to 2021. Although there are changes in VC investment behavior, there is still plenty of dry powder waiting to be invested in new products and technology.

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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

MARCH 13, 2023

In August 2021, it was announced that TowerBrook Capital Partners had made a strategic investment in Top 20 accounting firm EisnerAmper.  In a statement announcing the move, Charles Weinstein, EisnerAmper CEO, said, “Rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients.

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inDinero Tax Tips

MARCH 13, 2023

Your LLC has been established for a while, and things are going well. Your profits have increased steadily over the years, and so has your self-employment tax bill. It’s time to make a change, but you’re facing multiple options. Regarding potential business structures, should you convert LLC to S corp or C corp? What is an S Corp? An S corp is a business structure that is treated like an LLC except for taxation purposes.

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Cherry Bekaert

MARCH 13, 2023

Authors: Andre Kohn, Senior Associate, Tax Credits & Incentives Advisory and Bill Haberson, Manager, Tax Credits & Incentives Advisory On February 21, 2023, the Internal Revenue Service (IRS) released a new Form 7205 requiring documentation for the Energy Efficient Commercial Building Deduction. The Section 179D Energy Efficient Commercial Buildings Deduction (Section 179D), is a tax incentive for commercial building owners and designers who construct or make energy-efficient improvement

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CPA Practice

MARCH 13, 2023

By Craig Torres, Christopher Condon, Bloomberg News (via TNS). U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans. The Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. jointly announced the efforts aimed at strengthening confidence in the banking system

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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

Shay CPA

MARCH 13, 2023

Latest FDIC update: Sunday, March 12th: Depositors will have access to all their SVB stored funds starting Monday, March 13. Recent FDIC Press release: [link] FDIC FAQ page: [link] Who is impacted by the SVB Shutdown? Primary: Tech Startups that had funds stored in an SVB account. As of March 13, 2023, the FDIC has taken measures to ensure all money held in SVB accounts will be available to account holders.

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Basis 365

MARCH 13, 2023

Managing multiple projects and teams can become increasingly complex as businesses grow and evolve. Fortunately, the right project management software can help companies to streamline their operations, enhance collaboration, and increase productivity. One such tool is WorkflowMax, a comprehensive project management software developed by Xero. This article will discuss WorkflowMax's benefits and how it can help a business grow.

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CPA Practice

MARCH 13, 2023

Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. Payne Nickles & Company Hires First Chief Operating Officer to Drive Growth and Efficiency Payne, Nickles & Company, a full-service accounting, and business advisory firm, recently announced that Abbey Bemis will join the firm as its first Chief Operating Officer.

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inDinero Tax Tips

MARCH 13, 2023

Your LLC has been established for a while, and things are going well. Your profits have increased steadily over the years, and so has your self-employment tax bill. It’s time to make a change, but you’re facing multiple options. Regarding potential business structures, should you convert LLC to S corp or C corp? What is an S Corp? An S corp is a business structure that is treated like an LLC except for taxation purposes.

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income tax Non-Profits payroll tax Tax 52

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Technology

CPA Practice

MARCH 13, 2023

The IRS has scanned more than 120,000 paper forms 940 since the start of this year, a 20-fold increase compared to all of 2022, the agency said on March 8. The scanning effort is part of a multiform, multisolution initiative known as Digital Intake, which will soon expand to include scanning of forms 1040 and forms 941. “Technology powers tax administration, and we have completed important work over the last year to help people get the assistance they need and reduce paper, in addition to improv

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tax return Tax Technology 52

Going Concern

MARCH 13, 2023

Hello and Happy Monday! Here’s some stuff going on in our little corner of the world. A former Deloitte partner is suing Metropolitan Life Insurance Co. for disability benefits , saying he’s unable to return to his “highly-demanding” position because of multiple mental health conditions: The lawsuit, filed Thursday in the US District Court for the Middle District of Florida, accuses MetLife of improperly denying the partner’s claim for benefits using the opinions of doctors who never perso

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Inform Accounting

MARCH 13, 2023

Chancellor Jeremy Hunt has made it clear that he does not have room for big tax giveaways on March 15, as forecasts for economic growth are still weak. His focus will be to continue to clamp down on double digit inflation. An economic forecast from the Office of Budget Responsibility (OBR) will be announced alongside the budget. Mr Hunt has stated that he hopes to start the process of business tax cuts in his Autumn statement later this year, dependant on the OBR forecasts for the UK.

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FraudFiles

MARCH 13, 2023

When calculating child support or alimony obligations, “income available for support” is an important concept. In this video, Tracy talks about some of the issues that may arise when evaluating income.

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Technology

Insightful Accountant

MARCH 13, 2023

ADP webinar offers critical insights and potential strategies you can use to meet your goal of pay transparency.

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CPA Practice

MARCH 13, 2023

From tight deadlines to too much work, achieving work-life harmony during the busy season can be challenging. While it may be impossible to eliminate stress, there are strategies you can use to help reduce the negative impact of stress and increase productivity. Stress is the body’s natural reaction to challenging or demanding situations. It just so happens that a lot of the time, we can call our stress work.

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Insightful Accountant

MARCH 13, 2023

Internationally renowned ProAdvisor Esther Friedberg Karp breaks down an interesting QBO feature she hadn't noticed and wanted to share.

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Withum

MARCH 13, 2023

Learn how a multi-million-dollar U.S. retail bank with several branches that was non-compliant with regulatory controls was repositioned for success with the help of Withum’s BSA/AML ( Bank Secrecy Act/Anti-Money Laundering ) team. Download a PDF of this case study. Executive Summary For its annual anti-money laundering (AML) program and operational review, a banking regulator found a commercial retail bank’s AML programs, including Know Your Customer (KYC) profiles of high-risk customers, trans

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CPA Practice

MARCH 13, 2023

By Suhauna Hussain, Los Angeles Times, (via TNS). [TLDR: In 2020, CA voters approved a proposition related to gig drivers and workers (Uber, Lyft, DoorDash, GrubHub, et al). In 2021, a CA court ruled Prop 22 invalid because of state constitutional issues. This appeals court ruling states the law is valid, except for some language related to amendments.

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CPA Practice

MARCH 13, 2023

By Denis Slattery and Dave Goldiner, New York Daily News (TNS) President Biden on Monday vowed that depositors in the failed Silicon Valley and Signature banks will have full access to their money and promised to take other steps to protect the nation’s banking system. “Americans can rest assured that our banking system is safe,” Biden said. “Their deposits are secure.

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CPA Practice

MARCH 13, 2023

By Robert Higgs, cleveland.com (TNS) President Joe Biden’s budget plan for 2024 would restore monthly $300 payments to families with children that were widely credited with helping lift people out of poverty. Biden proposes restoring the Child Tax Credit, initially approved as part of the American Rescue Plan, which the White House said cut child poverty in half to the lowest level in American history.

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CPA Practice

MARCH 13, 2023

By Laura Weiss, CQ-Roll Call (TNS) House Republicans slammed the Biden administration’s tax proposals in a hearing with Treasury Secretary Janet Yellen on Friday, giving the president’s latest budget request an icy reception. GOP Ways and Means Committee members rejected proposals to again boost IRS funding and raise taxes on companies and households making over $400,000 per year, including expanding a tax on pass-through business income, scrapping tax benefits for oil and gas, and increasing

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Finance