Tue.Aug 30, 2022

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3 proven data visualization methods for CPAs

Accounting Today

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App purchases and sales and use tax

TaxConnex

Many tech companies consider themselves a service provider exempt from sales and use tax. But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps. A mobile application, or app, is a program or software application to run on a mobile device.

Sales 188
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5 Qualities of the Best Fractional CFOs for Startups

BurklandAssociates

The best fractional CFOs for startups are trusted partners, excellent collaborators and communicators, and add exponential value. The post 5 Qualities of the Best Fractional CFOs for Startups appeared first on Burkland.

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IRS Updates Simplified Method for Portability Election

Withum

On July 8, 2022, the IRS issued a simplified method for taxpayers to obtain an extension to make a portability election. This new publication, Rev. Proc. 2022-3,2022-1 IRB 144 , has superseded the 2017 publication, Rev. Proc. 2017-34,2017-26 IRB 1282. A portability election is an election that allows a surviving spouse to apply a deceased spouse’s unused exclusion, also known as their “DSUE” amount, to be transferred to the surviving spouse for any Federal estate and gift tax purposes during th

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Planning Your Restaurant's Path to Profitability

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.

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What Is a Cost of Living Raise?

Patriot Software

Employees love raises. Regular raises can improve employee happiness and put them in a better financial position. And, raises can reduce your employee turnover. You can give raises for merit or increasing job value. You might also give a cost of living raise. Employee raise expectations and employer plans are out of sync. Our free […] READ MORE.

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5 Things Your Clients Need to Know About WOTC

Intuitive Accountant

ADP VP of Government Relations Pete Isberg explains how the tax credit can help your small business clients save money and better compete in today's ever-competitive landscape.

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Hiring an Outsourced Accountant - What Are the Benefits?

Basis 365

Outsourcing accounting services allows you to focus on running your business while letting an expert handle all the bookkeeping details. Why Should You Hire an Outsourced Accountant? If you're looking for ways to save money, consider hiring an outsourced accountant. An outsourced accountant will help you keep track of your finances so you can make better decisions about how to spend your money.

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When Do You Need to Provide On-call Pay?

Patriot Software

Some businesses need on-call employees. But if you require employees to be available when they’re not working, should you pay them? Whether or not you must provide on-call pay depends on a few factors. If you’re not paying your employees while they’re on call, you might be violating FLSA hours worked, and thus overtime, rules. […] READ MORE.

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Patriot Payroll, Time & HR – A Payroll & Benefits Synopsis

Intuitive Accountant

If you've ever listened to business radio very long, you most likely have heard ads for Patriot Payroll. Along with payroll and integration with QuickBooks and QuickBooks Time, it offers time-keeping and HR.

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What Is the Cost of Training Employees?

Patriot Software

Hiring new employees is a beautiful thing. Employees can simplify operations and bring in more money for your business. But before employees can be all-stars at your business, you must train them. What is the cost of training employees? Hiring new employees? You need some employment forms. When you bring on a new hire, you […] READ MORE.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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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A 33-Year-Old Woman Working For EY Died at the Office Over the Weekend in Australia

Going Concern

Tragic news coming out of Sydney, a 33-year-old woman working for EY died at the office over the weekend. The original Australian report is behind a paywall so we’re getting some details from Daily Mail , sorry. The Guardian also has some info. Unfortunately details are a bit sparse at this time and her identity and position at the firm have not been revealed.

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What Is Commission?

Patriot Software

Typically, employers provide hourly or salary wages to workers. However, some business owners pay commission to employees. What is commission? What is commission pay? Commission is what employees earn when they make a sale or accomplish some other goal. Commissions can be a percentage of a sale or a flat amount based on the […] READ MORE.

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AbacusNext Appoints Two New Board Members

Intuitive Accountant

Company selects operations and global finance innovators Teresa Mackintosh and Chris Armstrong to advance practice management for professional services firms

Finance 92
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What Is a Tax Gross up for Payroll?

Patriot Software

There might be a time you want to pay an employee a specific amount. But once you factor in taxes, that amount gets smaller. So how can you give an employee a certain net pay? Gross up for taxes. What is a gross up? A gross up is when you increase the gross amount of […] READ MORE.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Control your business cash flow using bank payments within Xero

Xero

Wouldn’t it be great if you had more control over when your customers paid you? Think of all the admin you could avoid, the countless hours saved. It’d be great for your stress levels too, with less worrying about whether you can cover your overheads for the month and none of those awkward phone calls to chase overdue invoices. . The good news is you can control when your customers pay you, with bank payments powered by GoCardless.

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What Is an HSA?

Patriot Software

Most businesses offer employee benefits in addition to regular wages. Common employee benefits can range from different insurance options to types of retirement plans. Some employees have the option of opening an HSA. What is an HSA? What is an HSA? An HSA, or health savings account, is a plan where individuals put aside pre-tax […] READ MORE.

tax 87
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Culture in a Nonprofit – You Need It Too!

GrowthForceBlog

7 min read. Nonprofit missions are typically outward-focused. As a result, you probably have 100% of your attention, time, and energy focused on donors and fundraising to further the mission.

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Why Are Employee Benefits Important?

Patriot Software

Have you ever wondered if employee benefits are worth the cost and extra administrative tasks? Spoiler: They are. Find out the importance of employee benefits and how offering benefits can better your business. Why are employee benefits important? How important are benefits to employees? Well, 80% of employees would rather choose a job with benefits […] READ MORE.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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What is a SLAT?

KROST

A Spousal Lifetime Access Trust (SLAT) is a trust established between spouses. Essentially, one spouse gives the other spouse assets in an amount that uses up the unused Federal Estate Tax Exemption. The trust of one spouse must be materially different from the trust of the other spouse. The reciprocal trust doctrine allows the IRS Read the full article.

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What Is Per Diem?

Patriot Software

When employees incur travel-related business expenses, you might consider covering their costs. You can reimburse employees for expenses by giving them per diem pay. What is per diem pay? Per Diem Meaning Per diem is a daily allowance you give employees to cover travel-related business expenses. Per diem means “for each day.” You give […] READ MORE.

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Did the SEC’s Acting Chief Accountant Have EY in Mind When He Wrote This?

Going Concern

The Australian Financial Review reported today that EY had hoped to temporarily share the EY brand name between a new independent consulting firm and its existing auditing firm if a decision is made to split the two businesses into separate entities. But according to a statement this week from SEC acting chief accountant Paul Munter, that ’s not going to happen.

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Offering Adoption Assistance Benefits to Employees

Patriot Software

Many companies offer an adoption assistance program to employees. Are you thinking about providing adoption assistance benefits to employees? If so, read on to review the benefits of providing adoption assistance and the steps you need to take. What are adoption assistance benefits? Adoption assistance benefits are payments and expense reimbursements employers provide to employees […] READ MORE.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Deloitte Just Lost a Quiet Cybersquatting Dispute With a Privacy-Focused Crypto Company

Going Concern

Have you heard of DYKC? We haven’t. It’s not like it’s our job to know what giant accounting firms are doing across the globe at any given moment. Apparently Penultimate Media Systems hadn’t heard of Deloitte’s “Know Your Customer” services either when they registered DontKYC.com in August 2021. Deloitte decided to stomp that out lest anyone confuse crypto privacy offered by DontKYC.com for anti-money laundering professional services offered by Deloitte

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What Is Year-to-date Payroll, and Why Does it Matter?

Patriot Software

If you’re a small business owner with employees, a significant portion of your business’s expenses goes toward paying wages. That’s why you should pay attention to your year-to-date (YTD) payroll expenses. What is year-to-date payroll? What is year-to-date payroll? Year-to-date payroll is the amount of money spent on payroll from the beginning of the year […] READ MORE.

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Your Future is Now at Illuminate

Intuitive Accountant

Put Tipalti's second event on your to-do list now. The hybrid event, Sept. 13-15, explores the future of financial technology, how to accelerate the finance function and some good clean fun.

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What Is an Inventory System and Why Do I Need One?

Snyder

Introduction. In the business world, there are two types of inventory systems: periodic and perpetual. A periodic system checks the quantity and cost of inventory on hand at specific points in time. A perpetual system uses software to keep a running total of inventory on hand. In this post, we’ll explain what each is and why you need one if you’re starting a small business or running an existing company.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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What Is a Nonprofit? Definition, Types, & More

Patriot Software

Have you ever donated to a charity? What about a hospital or school? If so, you may have given to a nonprofit. But, what is a nonprofit? And, how do they work? Get the answers to all of your burning questions below. What is a nonprofit organization? Let’s start with the basics: What does nonprofit […] READ MORE.

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Do you own property personally? If so you need to read this….

Inform Accounting

If you own property there are a number of tax implications which you need to be aware of. Timing of Capital Gains Tax Reporting. Since 6 April 2020, any gain on a residential property where CGT is due must be reported and the CGT paid within 60 days of the sale by using the online property disposal return. For disposals before 27 October 2021, this 60 day time limit was 30 days.

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How student loan relief can turbo-charge retirement savings

Accounting Today

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Intuit Accountants Launches Intuit Tax Advisor Integrating Tax Prep and Advisory

Intuitive Accountant

Tax prep and advisory now are streamlined into a simple, automated tool to save time and scale planning.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.