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You’re trying to run a business and sales tax is not at the forefront of your plans. Nevertheless, you can do a quick check for the most common errors. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit. Misreading your nexus footprint. Besides the economic thresholds in each state, you should also be aware of creating a physical presence in various states.
Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. The tax treatment depends on how many days it’s rented and your level of personal use. Personal use includes vacation use by your relatives (even if you charge them market rate rent) and use by non-relatives if a market rate rent isn’t charged.
Rajesh Tripathi. Principal Washington, DC. Calvin Yung. Manager – Withum. Ambassador Atul Keshap. President – United States India Business Council. John Campanella. CFO – Guidepoint Global. Food: Brazilian Barbecue “Churrasco” and “Feijoada” Sightseeing: Balneário Camboriú located in the State of Santa Catarina.
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to? One reason might be tax law changes that raise tax rates. There have been discussions in Washington about raising the corporate federal income tax rate from its current flat 21%.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
Rev. Proc. 2022-24 (Apr. 29, 2022). Available at [link]. The IRS has released the 2023 cost-of-living adjusted limits for health savings accounts (HSAs), high-deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements (EBHRAs). Here are the details: HSA Contribution Limits. The 2023 annual HSA contribution limit is $3,850 for individuals with self-only HDHP coverage (up from $3,650 in 2022), and $7,750 for individuals with family HDHP coverage (up from $7,300 in 2
Today is the last day to vote for Insightful Accountant's 2022 Top 100 ProAdvisor and ProAdvisor of the Year Awards. Voting closes tonight at 11:59:59 (PST).
From one-man-teams to small and medium-sized businesses, accounting services are now a mandatory requirement of operations. But you probably don't need to hire an accountant or bookkeeper internally; you just need a trustworthy professional to work with.
From one-man-teams to small and medium-sized businesses, accounting services are now a mandatory requirement of operations. But you probably don't need to hire an accountant or bookkeeper internally; you just need a trustworthy professional to work with.
Too many things happening too fast? Internationally renowned ProAdvisor Esther Friedberg Karp explains why it happens—and offers some tips for how to manage the insanity.
Fisher v. Aetna Life Ins. Co., 2022 WL 1193999 (2d Cir. 2022). Available at [link]. In a dispute over an insurer’s interpretation of a health plan provision incentivizing use of generic drugs, a federal appeals court has held that the regulation establishing an “embedded” individual cost-sharing limit under the Affordable Care Act (ACA) does not apply before January 1, 2016.
The New Jersey Economic Development Authority (“NJEDA”) announced on May 3, that applications are now open through June 30, for the 2022 Technology Business Tax Certificate Transfer Program, commonly known as the Net Operating Loss (NOL) Program. The NOL program allows early-stage technology and life sciences businesses in New Jersey that are yet to be profitable to sell a percentage of their NJ net operating losses and R&D tax credits to an unrelated profitable corporation for cash.
QUESTION: I have been asked to make sure that our 401(k) plan is ready for a possible sale of the company. I understand that buyers typically ask for a determination letter to help assure that a plan is qualified, so I’m thinking we should get one. But I’ve heard that determination letters aren’t always available. When can a 401(k) plan be submitted for a determination letter?
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Rajesh Tripathi. Principal Washington, DC. Calvin Yung. Manager – Withum. Ambassador Atul Keshap. President – United States India Business Council. John Campanella. CFO – Guidepoint Global. Explore Other Episodes. Withum’s International Services Group invites you to our 2022 Global Summit Keynote. Wednesday, June 8 10:00 – 11:00 AM.
Each year, tax time is an opportunity to expand your accounting firm’s client base. How did your firm fare this year? That is a question firms should consider as they reflect on the tax season. Leading up to tax time, there are potential clients ranging from individuals to major corporations who may be on the hunt for a new tax preparer. Firms not only need to be ready when the opportunity comes knocking, they must also understand the proactive steps they can take to drive greater growth and pro
Rajesh Tripathi. Principal Washington, DC. Calvin Yung. Manager – Withum. Ambassador Atul Keshap. President – United States India Business Council. John Campanella. CFO – Guidepoint Global. Food: Masala dosa Chaat Dal makhani. Sightseeing: Varanasi Taj Mahal Holi Festival. Explore Other Episodes. Withum’s International Services Group invites you to our 2022 Global Summit Keynote.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Rajesh Tripathi. Principal Washington, DC. Calvin Yung. Manager – Withum. Ambassador Atul Keshap. President – United States India Business Council. John Campanella. CFO – Guidepoint Global. Food: Stamppot. Sightseeing: Anne Frank Museum and House Heineken Experience Van Gogh Museum Canal Ride at Nighttime Amsterdam Tulip Museum /Festival.
Fraud may not be something your business worries about from day to day, but the pandemic has created unprecedented opportunities for fraud that business owners and executives need to be aware of and keep an eye out for. In the fifth episode of the But Who’s Counting? podcast, host David E. Hartley sits down with Anders Senior Manager + Forensic and Litigation, Clay M.
As organizations make moves to modernize existing applications or processes, looking at Microsoft’s Power Apps low-code options and choosing the best fit can be a bit of a challenge, especially if you’re new to the Power Platform. Let’s take a look at model-driven app vs. canvas app vs. portal app and when you might want to choose a specific type based on your business needs.
Alternate title: If You Are an Accounting Student, Expect to End Up In Audit When You Graduate. Ever since early 2020 we have been forced to learn how to go without, not always an easy task in our always-connected, on-demand, two-day-delivery world. I don’t know about you but if I have to wait longer than two days to get something delivered, I start having some kind of existential crisis, furiously refreshing the USPS delivery screen in anticipation of the item being dropped on the greasy
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
The final countdown is on! Next week is the historic AccountingWEB Live Summit and Canopy is proud to be a sponsor of this event in San Diego, CA. Will you be there? It’s an event you don’t want to miss. The summit starts on May 9 and you can still register here. There will be a lot of opportunities to learn something new, including two events where two Canopy leaders will be sharing their expertise.
Accounting deals with many different types of accounts. One account you may stumble across in your accounting journey for your business is a nominal account. But, what are nominal accounts? We’re here to help you understand just that. This article goes over: Nominal account definition Types of nominal accounts Nominal account examples Nominal account definition […] READ MORE.
In case you’ve been on safari or an extended sailing trip, you’ve probably heard that on Tuesday 3 May 2022, the Reserve Bank of Australia (RBA) raised the benchmark interest rate to 0.35 percent—up from a record low of 0.1 percent. With the last interest rate rise being in 2007, this is news indeed. We’ve been hearing a lot in the last few days about the straining effects this rate rise will have on mortgage holders and household budgets.
From June 2017, the Money Laundering Regulations 2017 (MLR 2017) requires all reporting entities to establish an audit function to audit their compliance with the regulations and assess the effectiveness of the firms’ systems and controls. Even though there are many firms that are AML compliant, companies still end up paying huge penalties to the authorities due to deficiencies in their compliance programme.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
NetSuite is launching SuiteLife Campus, a talent development initiative for NetSuite channel partners that offers accelerated training programs to new graduates or career change candidates.
It’s true that behind every successful business, you’ll find an equally exceptional accountant. But there’s also a lot to process for clients on a monthly basis. Payroll, in particular, is one of those areas. Payroll is very much a specialism in its own right. Compliance is tricky, as legislation changes are often complex to interpret and apply. In a world where clients expect high levels of efficiency from their external providers, automating recurring tasks, like payroll, doesn’t just make sen
Thank you ApprovalMax for sponsoring Insightful Accountant's Future Forward virtual conference. ApprovalMax works with Xero and QBO and has over 100,000 users worldwide.
As you make the move into offering value-added advisory services, there are a number of obstacles that may appear. Clients may not see how an accountant could offer business advice, or they may be overwhelmed by all your offerings. So, what do you do? Here are three top tips for making a smooth transition into the advisory space. 1. Establish a good relationship.
Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.
The financial veteran's combination of financial operational abilities and strategic mindset will help continue fuel the bill payment and credit solutions provider's growth.
How to leverage partnerships to unlock the power of QuickBooks software. QuickBooks has an amazing product line. Between all the offerings it can accomplish so much for business owners. Even better, if you add on the right stack of apps and connections it becomes extremely powerful. There are thousands of additional applications, over a dozen financial options and several integrated products.
“Trust but verify” is a phrase that was introduced into US politics by then-president Ronald Reagan during the signing ceremony of a nuclear disarmament treaty with the former Soviet Union. It did seem to capture the tricky balance required where both sides begin to reduce the number of their own nuclear warheads while also reassuring each other that the other side was complying as well.
In many divorces, women are at a significant disadvantage, especially when it comes to money. In many marriages, the husband has been the main breadwinner. He often controls the purse strings, and often knows much more about where money has been spent and what assets are owned. In contrast, the wife has often had lower earnings, and has had little to no control over the money.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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