Tue.May 04, 2021

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Unexpected Growth Can Mean Sales Tax Obligations

TaxConnex

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. Every business owner wants their company to grow. And when that growth is unexpected, it feels that much sweeter. But don’t forget that success that comes from selling into more states can also expand your sales tax burdens. Businesses that sell into multiple states or jurisdictions have to pay attention to sales tax thresholds, and it’s not a one-time project.

Sales 246
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Importance of Meeting Tax Return and Payment Deadlines

RogerRossmeisl

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed by the IRS. Here are the basic rules. Failure to pay Separate penalties apply for failing to pay and failing to file. The failure-to-pay penalty is 1/2% for each month (or partial month) the payment is late.

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Your Balance Sheet and Income Statement are Not the Same

AccountingDepartment

When it comes to your balance sheet vs income statement, they are not the same. There is a difference. While both will give you some insight into your business's finances, each one has different variables. And a smart financial manager will take a look at both of them.

Finance 70
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“Reasonable Compensation” for C Corporation Business Owners

RogerRossmeisl

Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Thus, if funds are paid as dividends, they’re taxed twice, once to the corporation and once to the recipient.

CPA 148
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How to Build the Ideal HR Team

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.

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[Webinar Replay] The Restaurant Revitalization Fund

KROST

If you missed our webinar led by Paren Knadjian , Head of M&A and Capital Markets and Jean Hagan , Principal of Business Management , there is a recording available. This webinar goes over the Restaurant Revitalization Fund, including details of the new Restaurant Revitalization Fund eligibility, how to apply, what documentation is required, and updates on PPP and ERTC.

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Topgrading

RitaKeller

“If we weren’t still hiring great people and pushing ahead at full speed, it would be easy to fall behind and become some mediocre company.” – Bill Gates. Have you heard of topgrading interviewing? It is something I was not aware of until I read a recent article by Suzanne Lucas ( @RealEvilHRLady ). Per Lucas: The term topgrading comes from a 1997 article by Bradford D.

cpas 58
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Green New Tax – How a Corporate Tax Hike Will Hurt the Cannabis Industry

Withum