TaxConnex

APRIL 14, 2022

Sales tax is more complicated than ever, especially in a post-Wayfair world. And what’s worse is that everyone who says they’re simplifying sales tax is still leaving the hardest parts – and the liability – up to you. This is especially true when it comes to state registrations. For some reason, many of the software and service providers who claim to manage sales tax for you, don’t help with registrations, and if they do it comes at extra cost.

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VetCPA

APRIL 14, 2022

Perhaps the number one action you can take to support the financial health of your small business is to stay on top of accounting. Make sure you’re aware of most small businesses’ accounting challenges and learn how to overcome them. We’ll tell you how here! Banking. You’ve been banking for years, and you know how to manage the task.

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Withum

APRIL 14, 2022

The House recently passed H.R. 2954 Securing a Strong Retirement Act , being referred to as the SECURE 2.0 Act, which has overwhelming bi-partisan support, with a vote of 414 in favor and only 5 opposing. The Act includes a great benefit for those individuals who are working on paying off their student loan debt but have limited resources to invest towards retirement.

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ThomsonReuters

APRIL 14, 2022

IRS Employee Plans News (Mar. 25, 2022). Available at [link]. The IRS has announced that, due to COVID-19-related backlogs, it is suspending the issuance of certain delinquent filing notices relating to returns filed by tax-exempt or governmental entities, including employee benefit plans. Suspended notices include reminder notices about Form 5500-EZ and 5500-SF filing requirements, first delinquency notices for Form 5500 and 5500-SF, and second delinquency notices for Form 5500.

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tax Account accountant accounted 98

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.

Ryan Lazanis

APRIL 14, 2022

In this podcast episode, I shared 3 valuable ideas that can help you avoid getting stressed out if you’re offering the least scalable service — individual tax preparation. Listen below. 1:05 – You simply can’t scale your firm when you focus on individual tax prep services for a quarter of the year. 1:26 – It’s difficult to find qualified people to fill in the capacity gaps that’s why most firms just push through the busyness. 1: 36 – Personally, I refuse to do this service in o

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tax preparation tax Account accountant 98

AccountingDepartment

APRIL 14, 2022

In today's world, operating with manual, pen & paper processes is a way of the past. There just isn't enough time in the day anymore to keep up with it!

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Withum

APRIL 14, 2022

The Department of Defense (DOD) announced an enhanced “CMMC 2.0” program on November 4, 2021, which will maintain the program’s original goal of strengthening cybersecurity and protecting sensitive data across the Defense Industrial Base (DIB). So, what is changing from CMMC 1.0 to 2.0 in 2022? Framework Structure . Maturity levels have dropped from five to three.

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Anders CPA

APRIL 14, 2022

Good news came for taxpayers with large estates when the Tax Cuts and Jobs Act (TCJA) was passed. The TCJA doubled the estate and gift tax lifetime exemption, from $5.49 million per taxpayer to $11.18 million per taxpayer. For 2022, the exemption has been adjusted for inflation to $12.06 million per taxpayer and $24.12 million per married couple. On top of this generous amount, the IRS also allows for portability of the exemption between spouses – an important consideration in estate planning.

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Going Concern

APRIL 14, 2022

When it comes to the Fortune BCTWF, gone are the days of the Big 4 firms being ranked among, say, the top 50 companies and then you have a midtier public accounting firm or two ranked somewhere between Nos. 51 and 100. Nowadays you’ll see a non-Big 4 firm or two ranked higher than one or more of the Final Four Horsemen of the Accounting Apocalypse. Case in point, the 2022 BCTWF ranking.

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public accounting accounting firms Account accountant 58

Menzies

APRIL 14, 2022

Menzies LLP - A leading chartered accountancy firm. One way to attract, retain and motivate staff is to provide them with shares or share option rights. However, companies need to remember that there are annual compliance obligations which must be followed. What to consider when issuing employment related securities? Employment Related Securities (“ERS”) annual returns are required to be filed online with HMRC by 6 July 2022 following the tax year where share related benefits are provided to emp

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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

Technology

Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses. This can seem onerous, but understanding what needs to be done, and when, can significantly help reduce the stress and ensure that the tax filing process is smooth and straightforward.

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Anders CPA

APRIL 14, 2022

Interest rates are slowly on the rise, but how exactly will they impact your business and the state of our economy? In the fourth episode of the But Who’s Counting? podcast, host David E. Hartley sits down with returning guest Anders Director + Strategic Growth, Paul C. Rhea , to dive into what you need to know, including: Interest rate history and how we got to where we are today The Fed’s plan for interest rates today and in the near future Strategies that mid-to-large size busines

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cpas cpa 52

FraudFiles

APRIL 14, 2022

Family law cases involving complex financial issues often require the assistance of a financial expert for the following issues: Preparing a financial disclosure, including creating a marital balance sheet. Comparing balance sheets from period-to-period to evaluate changes in assets and liabilities. Analyzing financial disclosures or affidavits prepared by the spouses.

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ThomsonReuters

APRIL 14, 2022

Annual Report to Congress on HIPAA Privacy, Security, and Breach Notification Rule Compliance for Calendar Year 2020; Annual Report to Congress on Breaches of Unsecured Protected Health Information for Calendar Year 2020. Compliance Report. Breach Notification Report. HHS’s Office for Civil Rights (OCR) has posted its 2020 calendar-year reports to Congress on HIPAA privacy, security, and breach notification rule compliance and the HIPAA breach notification program.

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audit tax Account accountant 52

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Technology

RitaKeller

APRIL 14, 2022

“The delicate balance of mentoring someone is not creating them in your own image, but giving them the opportunity to create themselves.” — Steven Spielberg. A Gallup survey last fall revealed that working from home — including various hybrid arrangements — is trending permanently. Last September, 45% of U.S. employees were working partly or fully remotely, and 91% of them planned to continue some level of remote work post-pandemic; in fact, 58% would consider leaving their current jobs if acces

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cpa firm public accounting cpa Account 49

ThomsonReuters

APRIL 14, 2022

IRS Information Letter 2022-0002 (Feb. 25, 2022). Available at [link]. The IRS has released an information letter responding to an inquiry from a qualified transportation plan participant whose employer decided to let him work from home permanently due to the COVID-19 pandemic. To avoid losing compensation reduction amounts he had previously set aside for parking, the participant asked whether his unused compensation reductions could be transferred to a health FSA under a cafeteria plan.

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ThomsonReuters

APRIL 14, 2022

In November of 2021, Miami, Florida Mayor Francis Suarez responded to a tweet that asked who would be the first U.S. politician to receive their first paycheck in Bitcoin. “I’m going to receive my next paycheck 100% in Bitcoin,” Suarez wrote. Recently elected New York City Mayor Eric Adams added to the tweet responses on November 4, 2021, by writing that he would receive his first three paychecks via Bitcoin after being sworn in as mayor.

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ThomsonReuters

APRIL 14, 2022

Dr. U. Phillip Igbinadolor, D.M.D. & Associates, P.A. (UPI) HIPAA Enforcement Action; Northcutt Dental-Fairhope, LLC (Northcutt Dental) HIPAA Enforcement Action. Igbinadolor. Northcutt. HHS’s Office for Civil Rights (OCR) has announced resolution of two enforcement actions involving disclosures of protected health information (PHI) in alleged violation of the HIPAA privacy rule.

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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.

Technology

ThomsonReuters

APRIL 14, 2022

QUESTION: Can we use a single definition to determine the prohibited group when conducting the nondiscrimination tests that apply to our cafeteria plan, health FSA, and DCAP? ANSWER: No. Cafeteria plans, health FSAs, and DCAPs are all subject to nondiscrimination requirements under the Code that are generally intended to prevent these plans from discriminating in favor of certain highly paid and key employees (the prohibited group).

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