MazumaBusinessAccounting

JULY 29, 2021

Are you looking to build your business? As small business owners, it is easy to get distracted by the length of our to-do list and lose sight of the important factors that drive our business’ success. It’s also easy to ignore financial reports when we don’t know how to translate the numbers on the report into key insights about the health and value of our business.

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TaxConnex

JULY 29, 2021

Sales tax is complex for any business selling into multiple states. But there are specific states and jurisdictions that make it extra confusing for those trying to maintain compliance. One such location is Chicago, Illinois. Chicago is a home rule city and taxes several items that are not taxable at the state level. One example is Software-as-a-Service (SaaS) which is not taxable at the state level but is taxable within the City of Chicago.

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ThomsonReuters

JULY 29, 2021

QUESTION: A few participants in our company’s health FSA told us that their doctors have started charging patients a monthly fee that is payable whether or not the patients visit the office. There is no additional charge for actual office visits. Can our health FSA reimburse this fee? ANSWER: Generally, fees of this type are not reimbursable. In our view, such fees are like insurance because they are payable whether or not medical care is provided.

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Expense Reimbursements Tax Account accountant 98

SkagitCountyTaxServices

JULY 29, 2021

No matter how far around the block customers are waiting, in business, only one line counts. The bottom one. That’s why reducing business expenses is critical. Getting a grip on the costs of doing business brings you benefits both short- and long-term. “Cost controls” generally mean saving money (who doesn’t like that?) and laying the foundation for greater efficiency and profitability in the future.

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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.

ThomsonReuters

JULY 29, 2021

IRS Notice 2021-46 (July 26, 2021). Available at [link]. The IRS has issued additional Q&A guidance on the COBRA premium assistance provisions of the American Rescue Plan Act of 2021 (ARPA). Under ARPA, a 100% COBRA premium subsidy and additional COBRA enrollment rights are available to certain assistance eligible individuals (AEIs) during the period beginning on April 1, 2021, and ending on September 30, 2021 (the “Subsidy Period”) (see our Checkpoint article ).

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Tax Government Account accountant 98

5 Minute Bookkeeping

JULY 29, 2021

If you’re looking for the best tips for taking on a massive undeposited funds cleanup in QuickBooks Online, this is the blog post for you. You may have recently taken on a QBO cleanup client and noticed that they have hundreds of old transactions in undeposited funds. Before you attempt to clean it up, let’s take a look at what you need to know so you can take on this project with confidence.

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quickbooks bookkeeping tax return Start-ups 52

RitaKeller

JULY 29, 2021

“Whatever you are, be a good one.” – Abraham Lincoln. The AICPA is encouraging all of us working in the profession to urge high school students to consider becoming a CPA. I have advised practitioners to do that for many years. Practitioners need to not only give presentations to college students but also to high school students. Speak to them about the awesome opportunities when you become a CPA.

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CPA accounting and finance Finance Account 45

Withum

JULY 29, 2021

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ThomsonReuters

JULY 29, 2021

Temporary Implementing FAQs: Pension Benefit Statements—Lifetime Income Illustrations Interim Final Rule (July 26, 2021). Available at [link]. The DOL has issued four temporary FAQs addressing time-sensitive issues raised by its interim final regulation (IFR) regarding the lifetime income illustrations requirement for defined contribution plans, including 401(k) plans (see our Checkpoint article ).

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Tax Account accountant accounted 52

ThomsonReuters

JULY 29, 2021

Heat Index. According to the National Weather Service, the period from July 1, 2021 to July 13, 2021 has seen the hottest average temperatures (73.5 degrees F) on record. Death Valley in California hit a high temperature of 130 degrees F on July 9, 2021. That’s close to the record of 134 degrees F, which was set back in 1913. Throughout much of the United States, summer is hot and humid, which can make outdoor activities challenging and dangerous.

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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.