TaxConnex
MAY 20, 2021
We are approaching the three-year mark of the introduction of economic nexus and the South Dakota v. Wayfair decision. In order to address their expanding sales tax obligation, many businesses decided to outsource the sales tax process and chose an “automated” solution. If you are one of these businesses, you may now realize that much of the sales tax process falls on your shoulders.
RogerRossmeisl
MAY 20, 2021
In 2019, AB 5 was signed into law with an effective date of 1/1/2020. Under AB 5, most workers are presumed to be employees for purposes of the Labor Code, the Unemployment Insurance Code, and for most wage orders of the Industrial Welfare Commission unless a hiring entity satisfies a three-factor test, referred to as the ABC test. This means that many workers previously classified as independent contractors are now employees under California law and you must withhold California income and payro
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ThomsonReuters
MAY 20, 2021
IRS Notice 2021-31 (May 18, 2021). Available at [link]. The IRS has issued 86 Q&As 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 (see our Checkpoint article ).
RogerRossmeisl
MAY 20, 2021
As posted to the FightMediocrity YouTube Channel on 10/24/14 (Run time: 3 min, 52 sec) In this thought provoking clip, FightMediocrity provides a quick review and recommendation of “The 80/20 Principle” by Richard Koch. The unspoken corollary to the 80/20 principle is that little of what we spend our time on actually counts. But by concentrating on those things that do, we can unlock the enormous potential of the magic 20 percent, and transform our effectiveness in our jobs, our care
Advertiser: Paycor
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KROST
MAY 20, 2021
If you missed our webinar led by Paren Knadjian , Head of M&A and Capital Markets , there is a recording available. This webinar provides the roadmap to being prepared for when you are planning to sell your business now, in the next 5 years, or have no plan. Topics covered include: • How exit planning fits with business strategy and personal financial planning. • The six biggest myths about selling a business. • Maximizing value. • Reducing risk. • Readiness review. • How much value does ex
AccountingDepartment
MAY 20, 2021
During the latest Vistage Executive Summit, Joe Galvin of Vistage Worldwide discussed the 2021 approach to remote work and how it is going to have a lasting impression into 2022 and many more years ahead.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
AccountingDepartment
MAY 20, 2021
What are liabilities when it comes to finances? Liabilities are the financial obligations of a business. It can be the result of a business's future sacrifices for financial benefits. At the same time, liabilities can be another option to equity for financing. Liabilities are parts of everyday business operations, including things like income taxes and accounts payable.
ThomsonReuters
MAY 20, 2021
QUESTION: We are redesigning our 401(k) plan to use the Code § 401(k)(13) nondiscrimination safe harbor for plans that make automatic deferrals. That safe harbor will also require our company to make nonelective or matching contributions. How do we decide which type of employer contribution to make? ANSWER: The Code § 401(k)(13) safe harbor for qualified automatic contribution arrangements (QACAs) allows plans to satisfy the actual deferral percentage (ADP) test by requiring automatic deferral
RitaKeller
MAY 20, 2021
“The trick is this: keep your eye on the ball. Even when you can’t see the ball.” – Tony Robbins. Today’s title applies to several sports. I think of golf and baseball. It also applies to partners (especially the managing partner) in accounting firms. Keeping your eye on the ball applies throughout the game or match, not just as certain times.
ThomsonReuters
MAY 20, 2021
Howard Jarvis Taxpayers Ass’n v. Cal. Secure Choice Ret. Sav. Program, 2021 WL 1805758 (9th Cir. 2021). Available at [link]. A federal appeals court has affirmed that the CalSavers Retirement Savings Program, a state-run IRA savings program for employees without access to employer-provided retirement benefits, is not preempted by ERISA. CalSavers generally requires eligible non-governmental employers with five or more California employees to automatically enroll their California employees and r
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
MAY 20, 2021
NIST: Pre-Draft Call for Comments: Implementing the HIPAA Security Rule (Apr. 29, 2021). Available at [link]. The National Institute of Standards and Technology (NIST) has issued a call for public comments in conjunction with its plan to update “ An Introductory Resource Guide for Implementing the Health Insurance Portability and Accountability Act (HIPAA) Security Rule ” (Resource Guide).
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