Wed.Jan 06, 2021

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CAA Doubles Meal Deductions and Makes Favorable PPP Loan Changes

RogerRossmeisl

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. Business meal deduction increased The new law includes a provision that removes the 50% limit on deducting business meals provided by restaurants and makes those meals fully deductible.

CPA 244
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What the Second Covid Relief Bill & PPP Updates Mean for Your Business – Startup Success Podcast

BurklandAssociates

Tune in to this episode of Startup Success, where our host Kate Adams chats with Steven Lord, head of Burkland’s New York office and Fintech Practice, and Ardy Esmaeili, CPA, Read More. The post What the Second Covid Relief Bill & PPP Updates Mean for Your Business – Startup Success Podcast appeared first on Burkland.

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How Mexico’s Central Bank Plans To Move Payments To Digital

PYMNTS

In Mexico, the pandemic is moving the needle toward digital payments — specifically mobile payments — to become more widely embraced by businesses and consumers alike. Slowly. In an interview with PYMNTS' Karen Webster, Miguel Diaz , general director of payment systems and market infrastructures at the Central Bank of Mexico (Banxico), said that making and receiving payments across devices in an affordable manner, with faster payments infrastructure already in place, means that “every Mexican

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Provisions of the Second Coronavirus Relief Bill That Affect Skagit County Small Businesses

SkagitCountyTaxServices

Wow, does it ever feel good to have turned the page on 2020. This first “working week” is when I finally began to feel the newness of it all. Yes, it’s “just a date” on a Gregorian calendar, but … 2021 holds great promise for our Mount Vernon business clients. With the potential of easing lockdowns in our future (assuming that the vaccine and other developments will enable a further re-opening of society), and with the extensions of the PPP and other very nice

CPA 98
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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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FinTech Jeff Aims To Boost Lending To The Underbanked In South Asia

PYMNTS

With no credit scores, limited financial transaction histories, and a huge amount of people who don’t even have a bank account, lending money in Vietnam is no simple task. While most financiers would run from an environment like that, CEO Toms Niparts of Jeff , an app-based lending platform based in Latvia, saw it as a huge opportunity. “We are only focused on Southeast Asian economies where financial inclusion is really a problem,” Niparts said in a recent chat with PYMNTS about his newly launc

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Katz, Sapper & Miller Introduces New Partners in 2021

Katz,Sapper&Miller

We at Katz, Sapper & Miller are pleased to announce our two newest partners, Troy Hogan and Ben Lyon. Committed to helping their clients achieve their vision for their businesses, both Troy and Ben provide deep technical expertise, innovative solutions, and superior client service. In short, they exemplify KSM’s values. We are grateful to have Troy and Ben on our team and congratulate them on this outstanding achievement.

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Six Things You Need to Do When You Become a Partner

RitaKeller

“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan. I have heard Sam Allred, Founder of Upstream Academy , speak numerous times during my many years working in public accounting and it has always been inspiring. At a CPAFMA conference several years ago, Allred shared his Six Things Leaders Need to Do.

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How SMBs Prepare For A New Era Of Employee Expenses

PYMNTS

With the pandemic dramatically, and potentially permanently, altering the way business is done, the future of corporate travel remains uncertain. Industry executives are torn on when and how business trip spending will return. Bill Gates, for instance, predicts that half of business travel will entirely disappear, while Southwest Airlines CEO Gary Kelly anticipates it will be between five and 10 years before corporate travel bounces back, according to CNBC reports.

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Register for Upcoming Webinar – PPP Second Draw Program & Other Key Provisions of the COVID-19 Relief Bill

KROST

Jean Hagan ( Principal, Restaurant / Business Management ) and Paren Knadjian ( Practice Leader, M&A, and Capital Markets, PPP Forgiveness ) are hosting a free webinar with Kristi Turner, CMO of Compeat Restaurant Management Software , on the PPP Second Draw Program. Join our restaurant accounting and consulting experts on Wednesday, January 13th at 1PM CT as they provide an in-depth look at the Paycheck Protection Program Second Round and what that means for restaurant owners and operators

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Moving Healthcare Providers To A New Payments Business Model

PYMNTS

The U.S. healthcare industry is plagued with two- and three-month billing delays and confusion about what is and isn’t covered by insurance. Scott LoPresti , chief operating officer of Rectangle Health , told PYMNTS in an interview that it’s a process ripe for improvement. “A product of the healthcare industry is that billing is still very much a paper process,” LoPresti said.

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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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Cash Flow vs Profit – What is the Difference? | Cash Flow Tips from CPA

LyfeAccounting

?. A lot of businesses mistake profit and cash flow for being the same thing. It is not. I repeat – cash flow is NOT the same thing as profit. Getting this wrong can be the reason your business fails. Because over 90% of businesses fail because they run out of cash, not profit. There are many unprofitable businesses that are still standing. I can’t name one business that ran out of cash that is still standing.

CPA 52
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Corporate Cards Flex Their Rewards Muscles To Support Business Growth

PYMNTS

With businesses large and small increasingly turning their attention toward recovery efforts, the commercial credit card market is exploring ways to help their corporate card holders. As this week's Commercial Card Innovation Tracker reveals, the industry is increasingly showcasing the opportunity in value-added benefits and rewards, like cash back and partnership deals, to help organizations make their money go further.

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IRS Acknowledges the Latest Stimulus Legislation and its Effect on the PPP

Withum

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Petco Aims At $4 Billion Valuation In IPO

PYMNTS

Petco will file its initial public offering (IPO) with a valuation of almost $4 billion, according to a registration statement filed with the Securities and Exchange Commission (SEC) Wednesday (Jan. 6). That will come with a price-per-share of $14 to $17. Petco has done well amid the pandemic, as people stuck at home during quarantine and afterward have needed supplies to help care for their pets.

Sales 102
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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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3 Important To-Do’s To Add To Your Year-End Checklist

Withum

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Rivian Close To Raising Funds At $25 Billion Valuation

PYMNTS

Electric truck startup Rivian Automotive , which is backed by Amazon , is near to a new funding round which would value it at $25 billion, Bloomberg reports. That funding isn't final, though, and might change. Amazon, T. Rowe Price Group Inc. , BlackRock Inc. , Soros Fund Management , Coatue , Fidelity Investments and Baron Capital Group are among the company's existing investors, Bloomberg writes.

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The Ultimate Guide to Finding and Hiring a World-Class Marketing Manager

DuctTapeMarketing

The Ultimate Guide to Finding and Hiring a World-Class Marketing Manager written by Kyndall Ramirez read more at Duct Tape Marketing. When you first start your business, you’re wearing every hat—you’re overseeing every single aspect of the company: Accounting , check. . Sales outreach , add it to your to-do list. Administrative work , it’s not going to do itself.

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Amid Rising Disruption, Fleet Data Smartens Up To Cut Costs

PYMNTS

The coronavirus crisis threw a wrench in many supply chains all over the world, with organizations and their third-party logistics providers still reeling from the disruption. In the U.K., for example, a perfect storm of pandemic lockdowns and Brexit has elevated both complexity and costs for freight shipping into the market, with recent Bloomberg reports noting the spot rate for last-minute shipments across the English Channel hit more than $4.56 per mile for a full truckload in the last week o

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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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Loans By Smartphones Rate In New Provider Ranking Of Personal Loan Apps

PYMNTS

When applying for a personal loan, we like the process to be brief, efficient, no suspense. In that spirit we proffer the latest PYMNTS Provider Ranking of Personal Loan Apps , which gives an excellent vantage on this space at a glance, in part because so few apps make the cut. The Top 5. When last we checked in on personal loan apps, a catlike icon sat at the very top.

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New York City’s Economic Recovery Is Years Away, Fiscal Watchdog Says

PYMNTS

The new Fiscal Outlook from the New York City Independent Budget Office finds that the COVID-19 pandemic has likely made it so the city's economy won't fully recover for years. The report released Wednesday (Jan. 6) noted that the recent beginnings of vaccine distribution could mean a more quick positive turn, although "this optimism is tempered by the knowledge that the city and the world are still treading in unknown waters, with much about the coming months to be determined by the course of t

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Twitter Acquires Design Agency Ueno

PYMNTS

Twitter has acquired Ueno , a design agency, a blog post from company CEO and Founder Haraldur Thorleifsson stated. Thorleifsson said in the post that the company, which was founded in late 2013, first worked with Twitter in 2019, when a friend of his, Dantley Davis, who worked at Twitter, contacted him for help. "The next few months we worked to help establish a new vision and product strategy for one of the cornerstone teams at Twitter,” Thorleifsson said in the post.

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Personalization Is Key To Loyalty Programs’ Post-Pandemic Future

PYMNTS

The future of the post-pandemic loyalty program is digital and tailored, giving consumers relevant offers in real time, Mladen Vladic , senior vice president of loyalty solutions at FIS , told PYMNTS in an interview. Vladic said 2020 “in many respects was a transformational year because under that relentless pressure from the new customer realities, the payment space, the banking space, the retail space did new things overnight.”.

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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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Apple Supplier Murata Anticipates 5G Phones To Top 500 Million

PYMNTS

The largest manufacturer of ceramic capacitors for Apple and other smartphone makers, Murata Manufacturing Co., expects requests for 5G wireless devices to exceed 500 million handsets, Bloomberg reported on Tuesday (Jan. 5). “These handset makers are competing to grab our supply capacity once taken by Huawei, and I am not sure how much of it is backed up by their actual production forecast,” Murata President Norio Nakajima told Bloomberg.

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Virtual Beauty Platform Perfect Corp Closes $50 Million Series C

PYMNTS

Perfect Corp. , which works in tech solutions for the beauty field, announced its Series C investment for $50 million, according to a Wednesday (Jan. 6) press release. The new funding will be used for augmenting Perfect's artificial intelligence technology across multichannel retail and will go toward helping drive corporate global expansion, according to the release.

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Kofax, Microsoft Team On Enhancing AP Automation

PYMNTS

Intelligent automation software provider Kofax will integrate its ReadSoft Online platform with Microsoft Dynamics 365, letting organizations enhance their procure-to-pay workflows and automatic mission-critical processes, according to a press release. ReadSoft Online, the release stated, is Kofax's Software-as-a-Service (SaaS) tool for invoice data extraction and automating accounts payable (AP) services.

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Walgreens Boots Alliance Accelerates Rollout Of Primary Care Clinics

PYMNTS

Walgreens Boots Alliance (WBA) has turbo-charged its investment into VillageMD to facilitate the opening of between 600 and 700 new Village Medical at Walgreens primacy care clinics in the next four years, according to a press release. The companies intend to build "hundreds more" in the coming years, too, the release noted. “Together with Walgreens, we remain steadfast in our commitment to providing accessible, coordinated primary care in more communities nationwide,” said VillageMD Chairman an

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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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Stimulus Checks Pose Issues For H&R Block, TurboTax 

PYMNTS

Americans expecting a second stimulus check deposited into their accounts have not received payment as anticipated, CNBC reported on Wednesday (Jan. 6). People who filed their 2019 taxes with H&R Block or TurboTax told CNBC that they have not seen a deposit as expected. Payments for the second round of economic impact payments were reportedly sent via mail or direct-deposited into people’s accounts on file.

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Bitcoin Daily: Bitcoin Tops $35K; IGT Wins Patent For Using Crypto At Casinos

PYMNTS

Bitcoin’s price rally is continuing, setting a new record high of $35,821 on Tuesday night (Jan. 5), CNBC reported. Although it dipped slightly, its price still stood above $35,000 on Wednesday (Jan. 6), sitting at $35,277.69 as of 1:47 p.m. Eastern time. Despite some recent ups and downs — namely, breaking above $34,000 on Sunday (Jan. 3) before promptly falling briefly below $30,000 on Monday (Jan. 4) — investors remain confident in bitcoin’s price run.

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UnitedHealth Buys Change Healthcare To Boost Payments, Administration

PYMNTS

After being bought by UnitedHealth , Change Healthcare will join with OptumInsight to boost software and data analytics, tech-fueled research and revenue cycle management offerings for healthcare, according to a press release Wednesday (Jan. 6). Optum, which is part of UnitedHealth, will work with Change Healthcare to "more effectively connect and simplify core clinical, administrative and payment processes — resulting in better health outcomes and experiences for everyone, at lower cost.".

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Albertsons Laying Off Unionized Delivery Drivers In Pivot To DoorDash

PYMNTS

Albertsons supermarket chain is reportedly laying off some of its unionized delivery drivers and instead teaming with DoorDash for deliveries, according to a report in SFGate on Wednesday (Jan. 6). Albertsons is the second-largest supermarket chain after Krogers, with more than 2,700 stores and 18 different chains, including Safeway, Vons, Shaw's and others.

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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.