RogerRossmeisl
DECEMBER 31, 2020
The recent stimulus legislation, the Consolidated Appropriations Act of 2021, (CAA 2021) included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. Here are the details. In general, the ordinary and necessary food and beverage expenses of operating your business are deductible.
TaxConnex
DECEMBER 31, 2020
Your employees (like all of us) have more than enough headaches on all fronts headed into the new year. Back in April employees surveyed said that the pandemic is the most stressful time of their entire career. Now more than ever you owe it to your people – and to your business – to ease their problems when you can. If you handle sales tax compliance in house, you’ve got your employees handling an unbelievably complex business function – and with 65% of businesses planning to grow across state l
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PYMNTS
DECEMBER 31, 2020
Here’s another icy factoid from the year of COVID: up to 20,000 bank branches are expected to close before the pandemic is declared done. It’s triggered a remaking of the entire sector. Delving into fallout from an extraordinary global health crisis, PYMNTS December 2020 Digital-First Banking Tracker® done in collaboration with NCR Corporation , notes, “Bank customers are taking to mobile and on-line banking in record numbers to maintain their financial lifestyles, with 53 percent of bank custom
LyfeAccounting
DECEMBER 31, 2020
?. So you have a business? Paying yourself and employees? Or have plans on doing so? Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes.
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PYMNTS
DECEMBER 31, 2020
In a year filled with unexpected challenges and a COVID-era economic climate that proved fatal for many companies, PYMNTS was lucky to hear directly from the front lines how scores of company leaders and industry experts were coping with the crisis and turning conflict into opportunity. Take a look (and have a listen) at our 10 favorite podcasts from 2020.
PYMNTS
DECEMBER 31, 2020
How We Will Pay: Home As The Consumer Command Center. This study showed that the home had become the consumer’s commerce command center as they changed their daily routines to do more of their work and more of their once-physical errands from home. Key Data Points: Consumers are performing 12 percent more activities at home in 2020 than they did in 2019 and making purchases during 12 percent of those activities, on average. 6.7 percent made voice-assisted purchases while shopping for groceries o
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 31, 2020
The head of a Southwestern-U.S. theater chain that has closed all its locations and reduced its employee headcount to five from 1,250 due to COVID-19 told CNBC's "Squawk on the Street" Wednesday (Dec. 30) that he expects the long-term effect of the virus will be a drop in attendance by as much as a quarter. "The total attendance, based on the traditional curve, might be down 15 percent to 25 percent on a permanent basis.
PYMNTS
DECEMBER 31, 2020
Synchrony Bank will be able to offer a combination secured/unsecured credit card under a Consumer Financial Protection Bureau order posted Wednesday (Dec. 30). Synchrony Bank is a wholly-owned by Synchrony Financial Inc. Describing Synchrony's application, government regulators wrote of the proposed product: "As with other secured credit cards, therefore, a consumer must provide a security deposit to open a [dual feature credit card] DFCC card account.
PYMNTS
DECEMBER 31, 2020
A PYMNTS staffer recently placing a digital order from New England regional grocery chain Big Y noticed a surprising change to the supermarket’s online options. Customers could order groceries for delivery by Instacart as usual, but the chain now offered prepared food delivered via DoorDash. The lineup was about what one would expect from a grocery store’s prepared-foods section: pizza, subs, chicken tenders and wings.
PYMNTS
DECEMBER 31, 2020
Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. It was all on their timetable. Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. Not anymore. Customers are calling the tune now – and FIs had better dance to it. PYMNTS’ December Credit Union Tracker® , done in collaboration with PSCU , looks back at a year of breakthroughs in the CU space, noting that “digital
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
DECEMBER 31, 2020
The demand for faster payments is growing as companies look for swift, data-rich ways to transact. One study from 2019 found that 54 percent of 120 financial executives listed real-time payments as one of the most impactful emerging technologies, for example. Businesses are accustomed to turning to their banks for access to payments services, so financial institutions (FIs) that wish to remain competitive need to be able to meet this need.
PYMNTS
DECEMBER 31, 2020
Foot traffic typically skyrockets in stores during the holiday shopping season, with consumers drifting in and out of brick-and-mortar shops as they hunt for gifts. The pandemic has changed the rules, however, and merchants have rapidly adjusted to a retail climate in which customers retain significant health concerns. The global health crisis prompted many consumers to alter their holiday habits this year, including where they shopped, what they bought and how they paid.
PYMNTS
DECEMBER 31, 2020
For Main Street businesses, to say 2020 was challenging is an understatement. The good news, according to PYMNTS data , is that as 2020 is coming to a close, small- to medium-sized businesses (SMBs) are feeling genuinely more confident about their odds of continued survival than they were when the pandemic began. In June, less than half of SMBs surveyed by PYMNTS said they would survive into summer 2022 — as of the close of 2020, that figure is now up to 54 percent.
PYMNTS
DECEMBER 31, 2020
This year is one for the history books for all sorts of reasons, not all of them bad. For cryptocurrencies, 2020 shaped up to be a banner year. And as we start the clock on 2021, a number of people, places and trends bear watching because, after all, it’s not as if everything stops on Dec. 31. First things first, as they say. The wild price swings in this space are only part of the story, but they do indeed form a large part of the narrative we’ll see moving forward.
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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