RogerRossmeisl
JANUARY 26, 2021
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After sending the forms to recipients, taxpayers must file the forms with the IRS by March 1 (March 31 if filing electronically). The requirement begins with forms for tax year 2020.
TaxConnex
JANUARY 26, 2021
Massachusetts has joined the ranks of states that have provisions for accelerated remittance of sales tax. What does this mean for online companies that sell into that state? Effective April 1, 2021, businesses that have collected and remitted more than $150,000 in sales tax in the preceding calendar year will be required to remit tax collections to Massachusetts through the 21st day of the month no later than the 25 th day of the same month.
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BurklandAssociates
JANUARY 26, 2021
What is the Qualified Small Business Stock (QSBS) tax exemption? The Qualified Small Business Stock (QSBS) tax exemption may allow you to exclude up to $10 million of gain when Read More. The post The QSBS Tax Exemption – Don’t Miss Out appeared first on Burkland.
PYMNTS
JANUARY 26, 2021
Last week, the U.K. marked its third anniversary of adopting its open banking framework, making it the leading market to drive the concept of unlocking customers’ bank account data for integration with third-party solution providers. Over the last three years, the open banking model has continued to proliferate in markets around the world — even in jurisdictions, like the U.S., where there is no open banking regulatory mandate.
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AccountingDepartment
JANUARY 26, 2021
Businesses can thrive or fail based on how healthy their accounting is. Don't guess! Measure the health of your accounting and see where your KPIs stand against industry benchmarks for professional services companies.
PYMNTS
JANUARY 26, 2021
Given that the World Economic Forum has been relegated by the pandemic to a week-long digital discussion, how fitting is it that a conference of executives, elected leaders and academic experts that would normally be gathering in the snowy Swiss mountain town this week be told that the Golden Age of remote work is upon us and that there’s no turning back?
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
JANUARY 26, 2021
Anyone who thinks they’ve seen it all in the pandemic-driven digital economy can add one more new category. Add “lobby and visitor management” to the list of tech industries that have seen a spike in demand as companies contend with an ever-changing list of COVID-19-era requirements needed to safely and swiftly move people and packages in and out of their businesses.
SchoolofBookkeeping
JANUARY 26, 2021
The short answer is yes, you can have as many companies tied to the same login as you want. When you have more than one company tied to the same login, when you sign into QuickBook Online, the first thing. Read More. The post Can I Have More Than One QuickBooks Online Company on the Same Login? appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.
PYMNTS
JANUARY 26, 2021
Consumers’ migration to using contactless payment methods more often for their speed and convenience was only accelerated during the onset of the pandemic last year. It is easy to see why contactless payments are growing in a time of social distancing and touchless safeguards to prevent spreading the virus. The global contactless payment market is projected to reach $18 billion by 2025, in fact, up from $10 billion last year — a nearly 12 percent compound annual growth rate (CAGR).
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.
PYMNTS
JANUARY 26, 2021
Nearly a year of trial-by-fire, pandemic-era learning within the payments business has not only provided some great lessons but has also set the stage for some major advances in 2021 that have been in the cards for years. According to Russ Waterhouse , executive vice president of Product Development and Strategy at The Clearing House (TCH), the surge in digitization brought on by the COVID-19 crisis has accelerated the evolution of a range of RTP (Real-Time Payments) network advancements, includ
RitaKeller
JANUARY 26, 2021
“Progress is a nice word. But change is its motivator. And change has its enemies.” – Robert Kennedy. In CPA circles, all the talk lately has been about how to stop being a tax return preparer (or auditor) and become a business advisor. Simple statement; sounds easy. It isn’t. Doesn’t matter if it isn’t easy. You have to do it anyway if you hope for your firm to survive into the future.
PYMNTS
JANUARY 26, 2021
As real-time payment (RTP) schemes move from pilot to implementation worldwide, cybercrooks follow, drawn by the lure of instant ill-gotten gains at scale. First, appreciate how far RTP had come. PYMNTS recently reported that “66.7 percent of executives consider themselves ‘very’ or ‘extremely’ aware of Real-Time Payments, while 71.9 percent said they are ‘very’ or ‘extremely’ interested in the system.
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
PYMNTS
JANUARY 26, 2021
Starbucks has a winning recipe when it comes to taking care of its customers. The Seattle-based coffee giant’s loyalty program has 19 million active members that account for 48 percent of its annual revenue. . Its users earn “stars” that can be traded for free drinks, food and merchandise. One of the most popular features for its loyalty members is a free brewed coffee refill.
PYMNTS
JANUARY 26, 2021
The president of France, Emmanuel Macron, issued a warning to Big Tech players like Google and Microsoft, saying they need to adhere to European Union (EU) mandates, Bloomberg reported on Tuesday (Jan. 26). The EU wants the tech industry to abide by rules to moderate online content and constrain the market power of Big Tech players. . Macron told Microsoft CEO Satya Nadella and Alphabet CEO Sundar Pichai on a call that unfair practices will be seen as an attack on European democracy, Bloomberg s
PYMNTS
JANUARY 26, 2021
Pilot , which provides back-office services for startups, has raised $60 million through a new Series C funding round, according to a press release. The round, headed up by Sequoia Capital , doubled the company’s total funding to $120 million, the release stated. Pilot will use the money to help boost its back-office services that remove distractions in order to help companies focus more on business, the release stated.
PYMNTS
JANUARY 26, 2021
Bitcoin gets all the headlines. But step beyond bitcoin and enter the world of cryptocurrencies approaching mainstream acceptance. And as Keith Johnson , general manager of Ternio , said in an interview with PYMNTS, bitcoin has yet to live up to its hype as a game-changer in commerce — but there’s great promise for other cryptos to do so. At present, he said, a number of factors have inhibited the adoption of bitcoin as a transactional currency, including the fact that it’s expensive and can be
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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.
PYMNTS
JANUARY 26, 2021
Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. MobileCoin complements the privacy-focused app in that it is “more resistant to surveillance,” according to a 2017 Wired report. Signal CEO Moxie Marlinspike “played down,” the cryptocurrency developments, telling Platformer it was only some “design explorations.”.
PYMNTS
JANUARY 26, 2021
Hong Kong’s travel and leisure booking platform Klook has closed a $200 million Series E funding round led by Aspex Management , with participation by Sequoia Capital China , SoftBank Vision Fund, Matrix Partners China and Boyu Capital , according to a press release. “Despite a challenging 2020, we have shown our mettle, turning challenges into growth opportunities with agility and constant innovation,” Klook Co-Founder and CEO Ethan Lin said in the release.
PYMNTS
JANUARY 26, 2021
In today’s top retail news, the U.S. division of L’Occitane has filed for Chapter 11 bankruptcy, while AutoFi is shifting into high gear with the debut of its “lending as a service” division. Plus, a new Federal Reserve Bank of New York study finds that individuals anticipate that the economy will rebound by next year. L’Occitane’s US Unit Enters Bankruptcy As Part Of Lease Negotiations .
PYMNTS
JANUARY 26, 2021
So, payments provider Ant Group ’s much-heralded initial public offering (IPO) could be back on? Soon? When it comes to the Chinese government and its regulators, it’s hard to read the tea leaves. But a top Chinese central bank chief said Ant’s IPO could go forward once problems are resolved. Bloomberg reported that People’s Bank of China Governor Yi Gang said regulatory agencies are, in relation to Ant, still looking into issues surrounding potential monopolies.
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PYMNTS
JANUARY 26, 2021
The U.S. Small Business Administration (SBA) has approved 400,000 more pandemic relief loans worth $35 billion, saying it is trying to repair operational problems in the program brought up by lenders, Reuters reported. The SBA launched the newest round of the Paycheck Protection Program (PPP) earlier this month. However, the drastic changes to the rules, processes and technology platform have led to issues that ended up making the loan approvals slower, according to Reuters.
PYMNTS
JANUARY 26, 2021
Capital One Financial said on Tuesday (Jan. 26) that, in its fourth quarter, consumer credit metrics improved as consumers continued to pay down debt. In terms of headline numbers, the company said that revenues were down 1 percent to $7.3 billion, which beat expectations of just under $7 billion. Net income came in at an adjusted $5.29, while the consensus had been at $2.80.
PYMNTS
JANUARY 26, 2021
Financial services startup Albert has raised $100 million in a Series C funding round led by General Atlantic, the company announced on Tuesday (Jan. 26). Other investors include Alphabet’s independent growth fund CapitalG, Portag3 and QED. The round brings the company’s total funding to date to $173 million. The new funding will be earmarked to advance the company’s product offerings and its mission to improve financial wellness for consumers.
PYMNTS
JANUARY 26, 2021
American Express reported results that showed the impact of reserve releases of credit loss provisions as the macro environment improved amid the pandemic. Delinquency rates are at some of the lowest levels seen in the past few years, according to the latest results — but revenue metrics show there’s still a ways to go as we transition fully beyond the pandemic’s impact, particularly in travel-related spending.
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PYMNTS
JANUARY 26, 2021
Everybody wants to know what the future of corporate travel will look like in a post-pandemic market. Will businesses continue to rely on video conferencing, or will they flock back to the airport for in-person meetings? Perhaps the only certainty in the landscape today is that business will look different than it has in the past, and indeed, industry shifts are already becoming evident as companies explore technologies to help maximize spend and safeguard employees.
PYMNTS
JANUARY 26, 2021
Artificial intelligence (AI) technology company Ariel AI has been acquired by Snap. Ariel AI had been concentrating on a type of AI called computer vision, which is used to develop augmented reality (AR) functionalities, CNBC reported. Ariel AI had landed $1.1 million in investments before the Snap deal, CNBC reported, citing Crunchbase. Snap told the outlet that the AR startup’s workforce became part of its computer vision personnel in London at the end of last year.
PYMNTS
JANUARY 26, 2021
The last year brought about a perfect storm of economic and transactional challenges for microbusinesses and consumers. Establishing frictionless disbursement flows between vendors, consumers and payors became more critical than ever as offline sales evaporated and the volume of online transactions rose rapidly. All entities involved in the payments cycle were thus placed under intense economic pr essure to send and receive funds quickly and efficiently.
PYMNTS
JANUARY 26, 2021
Managing spend for organizations typically comes with a lot of paper, manual processes and headaches. Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. At most, a manual approach to spend management can attempt to uncover potential patterns: an employee that is continually breaching internal spend policy, for instance.
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