RogerRossmeisl
JANUARY 14, 2021
In IRS Tax Tip 2020-80, the IRS explained new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. Generally, payers must file Form 1099-NEC by January 31. For 2020 tax returns, the due date is February 1, 2021.
TaxConnex
JANUARY 14, 2021
TaxConnex works with a lot of telecommunications service providers that are new to the business. Many are existing MSP’s (Managed Service Providers) or IT management companies that would like to expand their service offering and become “stickier” with their clients. They may have infrastructure in place to support the sales tax requirements of their existing business, but the telecommunications service presents a different set of issues.
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PYMNTS
JANUARY 14, 2021
Nike is suing 589 websites, the owners of 676 social media accounts and more than 100 unidentified companies and individuals for allegedly selling counterfeit versions of its Nike and Converse shoes online. Nike wrote in a lawsuit filed in the U.S. District Court for the Southern District of Manhattan that its trademarks “are among the most widely recognized trademarks in the United States and around the world, as well as among the most popular with consumers.
ThomsonReuters
JANUARY 14, 2021
Proposed Rule – Amendments to Regulations Under the Americans With Disabilities Act, 29 CFR Part 1630, __ Fed. Reg. __ (__); Proposed Rule – Amendments to Regulations Under the Genetic Information Nondiscrimination Act of 2008, 29 CFR Part 1635, __Fed. Reg. __ (__). ADA. GINA. The EEOC has announced proposed regulations that would significantly change the wellness program incentives permitted under the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA)
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PYMNTS
JANUARY 14, 2021
In the move toward digital payments in cash-centric economies, building trust in bank accounts and payments done in bits and bytes is critical. In Pakistan, for firms seeking to spur that adoption and to foster financial inclusion, it’s important to have a “cash in, cash out” mindset, as Erwan Gelebart, CEO of digital wallet, mobile payments and digital banking provider JazzCash , told Karen Webster in an interview.
KROST
JANUARY 14, 2021
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) as part of the Consolidated Appropriations Act, 2021 (the 2021 CAA) was signed into law on December 27, 2020. The CCA is a $2.3 trillion package that provides additional funding to the PPP program and includes several key provisions that will positively impact the real estate industry.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
JANUARY 14, 2021
George Washington was unanimously elected President when the Senate and House met for the first time on April 6, 1789 in New York, the nation’s first capital, to count the electoral votes.
PYMNTS
JANUARY 14, 2021
Since the onset of the pandemic, banking activities like opening new accounts and applying for loans are now being done virtually to socially distance and help curb the spread of the virus. This means consumers are turning more to digital tools, but unlocking and embracing the potential benefits of these tools has not been easy. More than half of consumers find it difficult to locate relevant information on their banks’ websites, for example, a problem that led many to seek assistance in physica
KROST
JANUARY 14, 2021
The Consolidated Appropriations Act (the “Act”) passed by Congress and signed by the President on December 27, 2020, outlined several provisions to help individuals through this extended time of financial uncertainty. Most of these provisions are included in the Additional Coronavirus Response and Relief (“ACRR”) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (“TCDTRA”) Divisions of the Act.
PYMNTS
JANUARY 14, 2021
FinTech startup Marqeta has been tapped by Goldman Sachs to power digital checking accounts for Marcus. Marqeta said that Goldman Sachs “will leverage our modern card issuing platform” to introduce digital checking accounts to Marcus customers, according to a Marqeta blog post on Thursday (Jan. 14). The addition of digital checking expands the Marcus consumer portfolio of digital-first banking initiatives, which include high-yield savings, certificates of deposit, personal loans and other servic
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.
GrowthForceBlog
JANUARY 14, 2021
7 min read. What separates smart business leaders from the pack? No matter what type of business you decide to run, all successful business leaders shares one quality that sets them apart in the business world: Business Acumen.
PYMNTS
JANUARY 14, 2021
Like so many industries today, the diamond sector continues to struggle with supply chain digitization. The process of B2B procurement between diamond vendors and jewelry retailers is often stuck on legacy processes like phone calls, emails and paper check payments, creating the same kinds of bottlenecks and inefficiencies that plague other markets.
SkagitCountyTaxServices
JANUARY 14, 2021
Last week, when I wrote my message to our Skagit County business clients, the biggest news was the second round of the PPP, and that expenses covered under the first round of it would be tax deductible. Has anything happened since then? Goodness, even just the “mere” fact that both houses of Congress are under Democrat control now, after the Georgia elections, would have been the subject of many tax and business policy discussions.
PYMNTS
JANUARY 14, 2021
Southeast Asian FinTech Grab Financial Group announced in a press release that it has raised $300 million in a Series A funding round. The round was led by Hanwha Asset Management , South Korea’s leading asset management company. Other investors in the round include K3 Ventures , GGV Capital , Arbor Ventures and Flourish Ventures , the release stated.
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
RLLeaders
JANUARY 14, 2021
Entertainment, Military, and Diplomatic veterans to advise next phase of growth. WASHINGTON, DC – RL Leaders (RLL) announced the members of their newly constituted Advisory Board today. The announcement follows two new additions to the ranks of their senior leadership team announced late last year. New senior executives have joined RLL to lead business development efforts and serve as in-house Chief Financial Officer.
PYMNTS
JANUARY 14, 2021
Retailers made all sorts of quick pivots to their eCommerce sites as the pandemic unfolded, but in-store legacy technology proved to be an obstacle for many of them. Toshiba Global Commerce Solutions aims to change that with its new Elera system. Unveiled Wednesday (Jan. 13), Elera aims to replace legacy in-store IT systems with a new cloud-enabled solution of point of sale (POS), Internet of Things ( IoT ) sensors and more than 30 available “microservices” like refunds and promotions to bring s
ThomsonReuters
JANUARY 14, 2021
Rev. Procs. 2021-1 and 2021-4, 2020-1 I.R.B. 1 and 157 (Jan. 4, 2021). Available at [link]. The IRS has updated and restated its revenue procedures governing letter rulings, determination letters, and other guidance, including guidance about employee benefit plans. These revenue procedures supersede their 2020 counterparts (see our Checkpoint article ) and are generally effective as of their issuance date.
PYMNTS
JANUARY 14, 2021
Employers reflecting on 2020 will largely remember it as the year of the remote shift. A survey of 1,200 companies across numerous industries found that nearly 49 percent of firms said employees’ productivity improved as they worked digitally , with fewer workers worried about commuting or getting distracted on the job. Many companies took various facets of their operations digital, too, including their payments operations and other processes that relied on staff coming into the office.
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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.
ThomsonReuters
JANUARY 14, 2021
Proposed Modifications to the HIPAA Privacy Rule to Support, and Remove Barriers to, Coordinated Care and Individual Engagement. Available at [link]. HHS has announced proposed regulations that would make significant changes to targeted aspects of the HIPAA privacy rule, focused primarily on clarifying individual access rights. Highlights of interest to health plans include: Individual access right.
PYMNTS
JANUARY 14, 2021
A year ago, solidifying a digital business was still at the level of a “nice to do” for most SMBs. A year and one global pandemic later, digital transformation has become a need-to-do for SMBs looking to survive the storm. Luckily, PYMNTS can offer some guidance in the form of four concepts every SMB should investigate as they look to build out digital expansion.
LyfeAccounting
JANUARY 14, 2021
?. If you are self-employed, congratulations, you now have to make tax payments every quarter of the year or Uncle Sam will pay you a visit to drop off interest and penalties. I myself have to pay quarterly tax payments and here at LYFE Accounting, we help business owners pay theirs. But don’t worry. In this post, I’ll break down quarterly estimated payments in an easy to understand way so you pay on time and pay the right amount.
PYMNTS
JANUARY 14, 2021
Petco raised $864 million in an initial public offering (IPO) scheduled to start trading on Thursday (Jan. 14), Bloomberg reported. . The San Diego-based pet care chain is pricing its 48 million shares of Class A common stock at $18 each, beating forecasts. The offering is expected to close next Tuesday, subject to closing conditions. Morgan Stanley, Goldman Sachs and Barclays are the underwriters.
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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.
PYMNTS
JANUARY 14, 2021
There is no shortage of digital-only banks offering a smoother onboarding process, a slick mobile interface and fee waivers in an effort to tempt consumers to leave their traditional bank. Which, in a sense, makes Upgrade ’s announcement today (Jan. 14) that it is jumping into the world of mobile banking with the launch of a debit rewards product somewhat eye-catching.
RitaKeller
JANUARY 14, 2021
“Communication – the human connection – is the key to personal and career success.” – Paul J. Meyer. Once again, Withum shares a great video. This one was shared with their entire team so that they continue to feel very connected to the firm and to each other. What is your firm doing? Click here.
PYMNTS
JANUARY 14, 2021
When it comes to the ever-persistent build-versus-buy debate, the "buy" decision is becoming a more obvious choice for many firms within their digitization journeys. That's particularly true for smaller organizations with fewer resources and a lack of internal expertise to develop proprietary apps and other solutions. But procuring third-party solutions has its downsides.
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ThomsonReuters
JANUARY 14, 2021
QUESTION: Our company is implementing a new self-insured group health plan for employees, spouses, and dependent children. The draft plan document excludes same-sex spouses from the definition of spouse. Is this type of exclusion still permitted? ANSWER: The Equal Employment Opportunity Commission (EEOC) says no, and a recent U.S. Supreme Court decision strongly supports that answer.
PYMNTS
JANUARY 14, 2021
Connecticut Attorney General William Tong is launching an antitrust probe into how Amazon runs its eBook business, the Wall Street Journal (WSJ) reported on Thursday (Jan. 14). Connecticut’s inquiry is just the latest antitrust probe by several state and federal authorities into how Amazon conducts its business. Tong said his office is looking into possible anticompetitive conduct regarding the eCommerce giant’s agreements with five of the country’s biggest book publishers, according to a 2019 s
PYMNTS
JANUARY 14, 2021
The relationship announced Wednesday (Jan. 13) between Walgreens , Mastercard and Synchrony is more than a standard co-brand deal. The three companies will now team up to provide a mix of data, payment vehicles and loyalty program enhancements. At its core, the announcement is based on payments. Via Mastercard’s relationship with Synchrony, it will work with Walgreens to launch new credit card products, as well as a pre-paid debit card.
PYMNTS
JANUARY 14, 2021
As the pandemic, eventually, moves to the rearview mirror — we might move from post-COVID to an era to be defined as post-convention. It’s no secret that the meetings and events industry has been hit hard as in-person events have shuttered, as seen this week with the Consumer Electronics Show (CES) taking to a virtual format. Zoom calls have replaced confabs.
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