TaxConnex

JANUARY 7, 2021

If you were to read our 5 Steps to Sales Tax Compliance, or any guide on maintaining sales tax compliance, understanding the taxability of your products and/or services would be one of the first steps. Taxability could be a simple analysis if you sell widgets as tangible personal property (TPP) is taxable unless specifically stated otherwise. Taxability becomes confusing with software which tends to have varying tax rules from state-to-state.

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North Carolina Technology Nebraska Alaska 239

PYMNTS

JANUARY 7, 2021

For the travel industry, there is light at the end of the tunnel. Vaccines against COVID-19 are (slowly) being rolled out. And while it will take a while to return to any semblance of normal, cruise ships and airlines will at some point once again bustle with travelers journeying for business and pleasure. But no matter where crowds gather, it’s likely that some things will change.

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Transportation Healthcare Government Technology 144

Withum

JANUARY 7, 2021

Here are additional charts with comparisons of the three major stock indexes where I show the top 10 components of each index and the percentage of each stock you will own if equal amounts are invested in funds comprised of each of those indexes, and of the sectors they comprise. Also is a chart showing the 30 components of the Dow Jones Industrial Average and the relative weights of each stock.

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PYMNTS

JANUARY 7, 2021

Customers of Simple Bank are receiving emails telling them the bank is closing and that the intent is to transfer them to BBVA , a report from Talk Android says. After Simple Bank launched as an online bank specializing in high-interest savings accounts, the current economic climate ended up making it unfeasible. So BBVA pulled the plug. Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now

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Account accountant accounted 134

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ThomsonReuters

JANUARY 7, 2021

QUESTION: What is “transparency in coverage” cost-sharing disclosure, and does it apply to our company’s group health plan? ANSWER: “Transparency in coverage” refers to an Affordable Care Act provision that requires health plans and insurers to disclose certain cost-sharing information to participants, beneficiaries, enrollees, and, in some cases, the public.

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Tax Account accountant accounted 98

PYMNTS

JANUARY 7, 2021

Bitcoin hit more than $37,700, a new record high that helped drive the cryptocurrency market beyond $1 trillion, CNBC reported on Thursday (Jan. 7), citing data from CoinDesk and CoinMarketCap. At about 2:42 p.m. Singapore time, bitcoin was up 5 percent over the day before. Since the start of 2021, the cryptocurrency market is up 29 percent, and in the past 12 months, it is more than 380 percent higher.

Finance 132

Finance Start-ups Retail 132

PYMNTS

JANUARY 7, 2021

While QR codes have become an extremely prominent part of the payments landscape in the Asia Pacific region in general and in China specifically, in the U.S. they’ve mostly been relegated to the periphery of the payment and commerce ecosystems. But they weren’t totally ignored in the country, with individual brands and merchants using them in specific one-off applications.

Maine 113

Maine Technology Sales Start-ups 113

ThomsonReuters

JANUARY 7, 2021

IRS Notice 2021-07 (Jan. 4, 2021). Available at [link]. The IRS has announced temporary COVID-19-related relief for employers and employees using the automobile lease valuation rule to determine the value of an employee’s personal use of an employer-provided automobile. In general, employers using the automobile lease valuation rule must start using it on the first day the automobile is made available to an employee for personal use and for all subsequent years (the commuting valuation rule may

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Tax Account accountant accounted 77

PYMNTS

JANUARY 7, 2021

South Korea will begin taxing crypto benefits 20 percent, from both buying and selling, beginning in 2023, according to a report from Asia Today. According to the report, investors making more than 2.5 million won (about $2,200) from digital assets will be hit with the 20 percent tax. In terms of digital assets owned before the rule was put into place, the report stated it will depend on the higher amount between either the market price or the actual acquisition price at the end of the year.

Tax 110

Tax Washington 110

ThomsonReuters

JANUARY 7, 2021

DOL Webpage: Families First Coronavirus Response Act: Questions and Answers. Available at: [link]. The DOL has posted new FAQs 104 and 105, addressing the recent expiration of the Families First Coronavirus Response Act (FFCRA) paid leave provisions. As background, the FFCRA required certain employers to provide paid sick leave and emergency childcare leave for specified reasons related to COVID-19 (see our Checkpoint article ).

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Tax Account accountant accounted 69

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.

PYMNTS

JANUARY 7, 2021

The connected economy will someday have glasses. Smart glasses. Nine years after Google’s misfire with the product, smart glasses are making a return in a big way — as some very big names are getting behind them. The most anticipated development in the emerging world of connected glasses is Apple’s project, which according to reports has recently entered into its second phase of development.

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Construction Technology Account accountant 104

ThomsonReuters

JANUARY 7, 2021

Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees, 85 Fed. Reg. 82798 (Dec. 18, 2020). PTE 2020-02. Fact Sheet. The DOL has finalized its prohibited transaction exemption (PTE) allowing investment advice fiduciaries to receive reasonable compensation and engage in certain principal transactions, including as part of a rollover to an IRA.

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Tax Account accountant accounted 59

PYMNTS

JANUARY 7, 2021

Cloud banking startup Mambu has raised €110 million (nearly $135 million) in a new funding round aimed at financing the company’s global expansion. TCV led the latest round of financing, with Tiger Global and Arena Holdings contributing additional dollars. Current investors Bessemer Venture Partners, Runa Capital and Acton Capital Partners also took part.

payroll 102

payroll Finance Technology 102

LyfeAccounting

JANUARY 7, 2021

?. Government spending represents over ? of ALL spending in the United States. And it’s expected to continue to increase as the years go by. But where is this money actually going? Who is profiting from government spending? Government contractors. According to GovExec, Federal Contract spending was expected to exceed over $600 billion over 2020. That’s a lot of money going into the hands of businesses that are set-up to get government contracts.

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Government tax return accounting and finance Start-ups 59

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

PYMNTS

JANUARY 7, 2021

Many Americans are reporting frustration after not receiving their second stimulus checks within the past week, according to CNBC Thursday (Jan. 7). The new checks, which are for $600 and were approved as part of Congress's $900 billion package for pandemic aid, began to go out early in 2021 and reports said they had reached two-thirds of the recipients for the digital checks.

tax preparation 97

tax preparation tax return Tax Account 97

Katz,Sapper&Miller

JANUARY 7, 2021

On Dec. 27, 2020, the president signed into law the Consolidated Appropriations Act, 2021. This massive piece of legislation includes a $900 billon COVID-19 relief package that provides additional assistance for small businesses, extends unemployment insurance benefits, delivers stimulus checks to individuals, and extends and expands several existing tax provisions.

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Tax 58

PYMNTS

JANUARY 7, 2021

There are a lot of moving parts in B2B payments that are keeping corporate finance executives busy as they work to modernize and optimize their operations. In 2020, many of the biggest pain points in B2B payments were revealed, particularly when transactions move across border. But organizations are rising to the challenge with a renewed modernization effort that has carried into the new year.

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B2B accounting and finance accounts payable Finance 97

Withum

JANUARY 7, 2021

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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.

Technology

PYMNTS

JANUARY 7, 2021

Officials at the Federal Reserve, the Federal Deposit Insurance Corp. (FDIC) and the Treasury Department are looking to see if American Express Co. (AmEx) harnessed strong and deceptive sales practices for card sales to business owners and if clients experienced negative effects, The Wall Street Journal reported Thursday (Jan. 7), citing unnamed sources.

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Sales audit 97

FusionCPA

JANUARY 7, 2021

In January 2021, it will be 10 years since Fusion CPA opened its doors and we're reflecting on our journey so far. We have learned valuable lessons along the way and have garnered perspective with time. I am Trevor McCandless , CEO of Fusion CPA. If you talk to the people who know me the best, they will tell you I am an avid reader. I feel that there is power in learning from those who came before you.

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CPA 52

PYMNTS

JANUARY 7, 2021

In the humming world of gig apps, three variations dominate. There’s the platform model, where contractors create profiles and upload portfolios; we’ve got the on-demand type (think restaurant mobile order-ahead and day labor apps); and freelancer apps that may allow gig workers to classify themselves by vertical expertise or specialty. It’s a rich ecosystem.

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CapataCPA

JANUARY 7, 2021

California Passes Proposition 19Proposition 19 was recently passed in California and will affect properties that you want to pass down to your children. It is important to know that Prop 19 will only affect the property taxes and reassessments of the property; it will not take away the step up in basis for inherited properties. The post California Passes Proposition 19 appeared first on CPA firm in Orange County, CA | CAPATA.

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California cpa firm CPA Tax 52

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Technology

PYMNTS

JANUARY 7, 2021

Despite a raging pandemic, widespread unemployment and a fragile economy, U.S. consumers paid more of their bills on time last year, resulting in the largest improvement in personal credit scores in more than a decade. According to Experian’s 2020 Consumer Credit Review , the national average FICO score increased by 7 points last year, to a record 710, a rating that is considered “good” within a 5-tiered scoring system that ranges from 300 to 850, ranking scores from “very poor” to “excellent.”.

Real Estate 94

Real Estate New York Government Account 94

ThomsonReuters

JANUARY 7, 2021

IRS Notice 2021-03 (Dec. 22, 2020). Available at [link]. The IRS has extended its temporary relief from the requirement that certain signatures be witnessed “in the physical presence” of a plan representative or notary public. The original relief, which appeared in Notice 2020-42 (see our Checkpoint article ), was provided primarily to facilitate coronavirus-related distributions and plan loan relief enacted by the Coronavirus Aid, Relief, and Economic Security (CARES) Act (see our Checkpoint

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Tax Technology Account accountant 52

PYMNTS

JANUARY 7, 2021

Department stores like Sears, JCPenney, Lord & Taylor and others have either gone under or closed hundreds of stores, threatening to take down shopping malls where they once served as anchor tenants — but dollar stores are booming. Could rapidly growing Dollar General, Dollar Tree and other discount stores become the new anchor tenants for malls and shopping centers and save the day?

Real Estate 94

Real Estate Sales Retail 94

FraudFiles

JANUARY 7, 2021

The issue of “income available for support” in divorces can be huge, particularly if only one spouse works. The issue gets complex if the earnings of one or both spouses are non-traditional. Regular wages are usually easy to evaluate in a divorce case, while income from businesses, real estate, and other investments become more complicated. As a general rule, there is latitude in state courts when it comes to income and what is included or excluded for support calculation.

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Real Estate income tax Non-Profits tax return 52

Advertiser: Paycor

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PYMNTS

JANUARY 7, 2021

U.K. market watchdog the Financial Conduct Authority (FCA) cautions that the results of its recent pandemic resiliency survey indicate some 4,000 companies doing business in the financial services sector lack resiliency and could collapse. “We are in an unprecedented — and rapidly evolving — situation. This survey is one of the ways we are continuing to monitor the potential impact of coronavirus on firms,” Executive Director of Consumers and Competition Sheldon Mills said in a Thursday (Jan. 7

Technology 84

Technology 84

Withum

JANUARY 7, 2021

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PYMNTS

JANUARY 7, 2021

Bed Bath & Beyond reported Thursday (Jan. 7) that digital sales nearly doubled during the company’s fiscal third quarter even as overall sales fell 5 percent and the company lost more than $75 million. “We knew this holiday season would be like no other, and we took several steps in advance to help our customers shop safely and with ease,” President and CEO Mark Tritton said in announcing the results.

Sales 82

Sales Retail 82

Withum

JANUARY 7, 2021

accounting firms 116

accounting firms Account accountant accounted 116

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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.

Finance