SMBAccountant
NOVEMBER 4, 2021
Income but no cash?! How does that happen?? How could a business be making money according to their profit and loss but have no money… or even worse, negative cashflow? This answer can vary depending on whether the company’s books are kept on a cash basis or accrual basis, but the general premise is the same. A company pays cash for things that don’t show up on the profit and loss.
RogerRossmeisl
NOVEMBER 4, 2021
For-profit colleges and vocational schools — especially online programs — provide degree-earning opportunities to many Americans who might not otherwise be able to pursue higher education due to financial pressures and work or family obligations. But as countless complaints and lawsuits suggest, some for-profit institutions engage in deceptive, and even illegal, recruiting and retention practices.
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TaxConnex
NOVEMBER 4, 2021
TaxConnex is pleased to announce the completion of their second annual sales tax survey finding that the increasing sales tax complexities, growing nexus, fear of sales tax audits and limited resources to do what is necessary to remain compliant are among the top worries of financial professionals heading into 2022. The nationwide survey, conducted by In90Group in September of 2021, is composed of responses from 100 top finance professionals in a variety of industries on their thoughts and exper
inDinero Tax Tips
NOVEMBER 4, 2021
Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. Having proper documentation of all your income and expenses is the easiest way to pass an audit. In this article, we will discuss what an audit is, why you might get audited, and how to prepare for an audit.
Advertiser: Paycor
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.
Pooley Accounting Services
NOVEMBER 4, 2021
How are you managing your 1099s these days? Every business owner knows the importance of strong financials. Without a solid balance sheet, it’s difficult to receive loans or attract investors. Yet, many companies fail to realize how accurate tax reporting contributes to a financially sound organization. For example, failure to file non-employee compensation on form 1099 can result in penalties ranging from $50 to $270 per form up to a maximum of $556,500 per year.
SchoolofBookkeeping
NOVEMBER 4, 2021
At the seventh annual QuickBooks Connect, Intuit unveiled new innovations across the QuickBooks ecosystem to help accountants better serve their small business clients, grow their practices and scale their impact. Introduced by Accountant Segment Leader, Ted Callahan, these accountant-specific innovations include a new Revenue Share Program, Books Review and Transaction Collaboration, the launch of a new QuickBooks Online Windows app, Payroll Certification, ProAdvisor Support and more.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
KROST
NOVEMBER 4, 2021
In this first article in our upcoming series, we will discuss a trust and the type of assets you may transfer to a trust. Please stay tuned for more related articles coming soon and reach out to our team if you have any questions about estate and trust. . A trust is a legal agreement between two parties: the trustee and the trustor (sometimes called the settlor or grantor).
LSLCPAs
NOVEMBER 4, 2021
The Deadline for Compliance is June 30, 2022. A number of new debt and lease standards have been added to government agencies’ financial reporting requirements. For this post, we are zeroing in on the condition that government agencies are being required to add additional footnotes to their financial statements. With this new reporting requirement for government.
ThomsonReuters
NOVEMBER 4, 2021
CMS Memo: Required Federal Agency Contact Information and Website to List on Certain Documents Related to the No Surprises Act (Oct. 25, 2021). Available at [link]. CMS has issued a memorandum to group health plans, insurers, and health care providers regarding agency contact information that must be included on certain notices and disclosures relating to the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).
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
NOVEMBER 4, 2021
OCR Cybersecurity Newsletter: Securing Your Legacy [System Security] (Oct. 29, 2021). Available at [link]. OCR’s Fall 2021 cybersecurity newsletter addresses the importance of securing legacy computer systems—that is, systems with one or more components that have been supplanted by newer technology and are no longer supported by the manufacturer. According to OCR, all organizations ideally would use only systems that are fully patched and up-to-date, but many factors explain why health organiza
ThomsonReuters
NOVEMBER 4, 2021
Talasek v. National Oilwell Varco, L.P., 2021 WL 4860133 (5th Cir. 2021). Available at [link]. An employee attempting to enroll in his employer’s ERISA-covered supplemental life insurance plan was informed that his elected coverage was “suspended” pending approval of required evidence of insurability. After some back-and-forth between the employee and the insurer, during which the employee corrected errors in his evidence-of-insurability form and provided additional materials, the insurance com
RitaKeller
NOVEMBER 4, 2021
“A committee can make a decision that is dumber than any of its members.” – David Coblitz. I have observed that most CPA firms have too many committees. Have you ever served on a committee? I’m sure you have. My experience is that at committee meetings there is a lot of discussions, sometimes debates, and even arguments. After the meeting, not much gets accomplished, and then time goes by and it’s time for the next committee meeting.
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
ThomsonReuters
NOVEMBER 4, 2021
QUESTION: We are changing our company’s group health (major medical) plan from fully insured to self-insured next year. Will our plan have to comply with nondiscrimination rules under Code § 105(h) and, if so, what do these rules require? ANSWER: Self-insured health plans are subject to two nondiscrimination tests under Code § 105(h)—the Eligibility Test and the Benefits Test.
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