TaxConnex
FEBRUARY 15, 2022
When is it worth getting a business problem off your plate? Businesses outsource tasks every day, from marketing to operations to finance. But is there more you should be outsourcing? Does it make sense to keep things in-house if you don’t have an expert on staff? A ccording to TaxConnex’s recent market survey of 100 top finance professionals, this could be the year to outsource sales tax.
RogerRossmeisl
FEBRUARY 21, 2022
In the fourth quarter of 2021, CEO resignations were up 16% over the prior year, according to executive outplacement firm Challenger, Gray & Christmas. Recent and announced high profile departures include Twitter’s Jack Dorsey, Amazon’s Jeff Bezos and American Airlines’ Doug Parker. This trend is expected to continue into 2022 as executives swap high-stress positions for more family time.
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BurklandAssociates
FEBRUARY 22, 2022
Hiring a fractional CFO is a significant milestone and an important strategic move for your startup. Even on an outsourced basis, your CFO is one of the pillars of your Read More. The post What to Look for When Hiring a Fractional CFO for Your Startup appeared first on Burkland.
Acterys
FEBRUARY 16, 2022
For every organization, FP&A mandates professionals to have first-rate analytical thinking and numerical analysis skills to interpret financial data and produce insights surrounding business performance. However, crunching numbers and compiling insights is only the first part of the process. To paint the complete picture, they need to understand how those disjointed figures come together and put them in a cohesive narrative to effectively translate insights into game-changing decisions and r
Advertiser: Paycor
Choosing an HCM partner is one of the most important decisions you’ll make because time is one of your company’s most strategic assets. How do you want to spend your time?
Accountant Advocate Submitted Articles
FEBRUARY 2, 2022
Tribal knowledge can be a big problem – especially for accounting departments if you don't know how to spot it, capture it and correct it. Learn the best practices for capturing tribal knowledge.
MyIRSRelief
FEBRUARY 1, 2022
One of the most important aspects of a company to the owner or operator is the financial side. It is very important to know the financial condition of your business. For most businesses, this falls on the Accounting department. For smaller businesses, where there is not an option, a CPA or EA firm may be a better choice. A CPA or Certified Public Accountant, or EA Enrolled Agent is a specially trained professional who knows all of the necessary rules and regulations regarding business finances.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
FEBRUARY 23, 2022
When divorcing spouses own a private business interest, it complicates the settlement process. The value of a business isn’t necessarily as straightforward as the values of other marital assets. And it’s often impractical to sell the business and split the proceeds, because there may be other owners who aren’t interested in selling and it takes time to sell a business.
BurklandAssociates
FEBRUARY 15, 2022
Summary: LTV, or Lifetime Value of a Customer, is the average total revenue one customer generates for your business over their lifetime. CAC, or Customer Acquisition Cost, is simply the Read More. The post What’s a Good LTV:CAC Ratio for a SaaS Startup? appeared first on Burkland.
Acterys
FEBRUARY 11, 2022
In this post, I will cover some of the learnings from implementing large-scale xP&A (Extended planning & analytics) projects that include the handling of 2-way (read and write operations) within Power BI beyond the typical reporting and visualization aspects. In particular I will focus on analytical applications that include data collection, workflows, and more advanced calculation logic.
Accountant Advocate Submitted Articles
FEBRUARY 4, 2022
Payroll is a complex business function that comes with minutia, and as businesses grow, payroll can get harder to manage. Avoid these expensive mistakes in your payroll.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Ready to automate the month-end close process but don't know where to start? We got you covered. Join us in this informative webinar where we will walk you through the main consideration areas when it comes to evaluating and selecting a month-end close solution. We will cover everything from sponsor champion identification, vendor evaluation, pitfalls during contracting, IT requirements, termination considerations, and more.
Withum
FEBRUARY 28, 2022
Welcome to the future! Cryptocurrency continues to gain popularity (see our previous article here ), the Metaverse is constantly expanding, and NFTs (Non-Fungible Tokens) are trending. Blockchain technology is on track to become the most impactful innovation since the internet (and for charities specifically, since the “donate now” button) and has been a catalyst in creating recent generational wealth.
TaxConnex
FEBRUARY 22, 2022
If your business sells software or software-as-a-service (SaaS), you deal with one of the most complex sales tax situations, potentially without even realizing it. Your sales tax obligation and liability begin with where you have nexus , a connection between your company and a taxing authority or jurisdiction. Sales tax nexus was once defined only as a substantial physical presence but for almost four years – ever since the Supreme Court’s Wayfair ruling – sales tax nexus can also be defined as
RogerRossmeisl
FEBRUARY 28, 2022
Back in 2017, the Tax Cuts and Jobs Act was signed into law which instituted a cap on the amount of state and local taxes (SALT) that individuals could report as Itemized Deductions on Schedule A. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000. Previously, there was no limit. Since then, roughly 20 states have come up with workarounds intended to negate, or at least mitigate the effect of the SALT limitation.
BurklandAssociates
FEBRUARY 9, 2022
In 2021, few industries received more venture capital investment than fintech, and many industry observers predict 2022 will be another banner investment year for the sector. To guide you through Read More. The post Fintech Landscape in 2022: Insights from a Fintech Co-Founder appeared first on Burkland.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
xendoo
FEBRUARY 25, 2022
Taking steps to clean up accounting records can be a big undertaking for small business owners. Hopefully, you started your business on the right foot financially. You may diligently record your accounting transactions or have hired someone to take care of accounting for you. If that is not the case, you will need to take steps to clean up accounting records or use a catch-up bookkeeping service. .
ThomsonReuters
FEBRUARY 9, 2022
Part 1 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including worker classification, COVID-19 vaccine mandates, and wage and hour. Read part 2 for more 2022 payroll trends. On a recent weekend getaway from Hoboken, New Jersey to Miami, Florida, I observed just how ubiquitous the subject of payroll is in our lives on a day-to-day basis.
Withum
FEBRUARY 21, 2022
Federal Courts continue to reject constitutional challenges under the 5th Amendment to Section 7345, passed as part of the “Fixing America’s Surface Transportation Act” in 2015. The law gives the U.S. government the authority to revoke U.S. passports or reject passport applications for individuals who have delinquent tax debts in excess of $52,000, provided such debts have been certified by the Internal Revenue Service.
TaxConnex
FEBRUARY 10, 2022
This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules.
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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.
RogerRossmeisl
FEBRUARY 23, 2022
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. And in some cases, even if it’s not required to file one, it may be beneficial to do so anyway. Who must file? The annual gift tax exclusion has increased in 2022 to $16,000 but was $15,000 for 2021.
BurklandAssociates
FEBRUARY 1, 2022
1. Who is the Startup’s Banking Partner? A startup should have a business account with a bank that specializes in startups. Startup Banking Dos & Don’ts Open a bank account Read More. The post How to Lower Your Investment Risk in a Startup appeared first on Burkland.
xendoo
FEBRUARY 15, 2022
If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. You might need help mitigating tax exposure and ensuring tax planning, charitable giving, and other complex tax needs.
ThomsonReuters
FEBRUARY 8, 2022
1) Communicate clearly to win new tax clients. When you seek to win new tax clients, it’s best to start at the beginning. Do you know what your clients and prospects want, especially in terms of communication? With so many generations in need of tax and accounting services in the market today, it can be a challenge to discover what a client truly wants or needs, or how they want to connect with you.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Withum
FEBRUARY 15, 2022
Like the answer to many tax questions, the answer to this one is an unsatisfying “yes and no.” The $1.7 trillion BBB legislation remains a priority for the Biden administration, but it does not have support in the Senate, i.e. , Senator Joe Manchin III from West Virginia is not onboard. For his part, Sen. Manchin has stated repeatedly that he will not support the BBB bill, but he has voiced support for a more limited, trimmed-down bill to focus on climate change and expanded healthcare.
TaxConnex
FEBRUARY 8, 2022
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Oh Joy, oh revenue! State sales tax revenues and their local portions are reported up from Auburn, N.Y., to Colorado Springs, Colo., from Santa Barbara, Calif., to Mukilteo, Wash., defying predictions of the pandemic’s effect on government coffers – and delighting officials.
RogerRossmeisl
FEBRUARY 23, 2022
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general, it depends on which filing status results in the lowest tax. But keep in mind that, if you and your spouse file a joint return, each of you is “jointly and severally” liable for the tax on your combined income.
SchoolofBookkeeping
FEBRUARY 20, 2022
At QuickBooks, accountants and bookkeepers are Intuit's most valued partners. Intuit is committed to working with them to help small businesses thrive. Now, to recognize accountants who help their small business clients use QuickBooks Online, they’re launching the new QuickBooks ProAdvisor Preferred Pricing Revenue Share program. Thanking accountants for shared success, the new program recognizes the work accountants do to recommend, set-up and onboard new clients onto QuickBooks.
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
CTP
FEBRUARY 17, 2022
Talent has always been something that firm leaders have had to manage carefully, but this year seems especially difficult and many firms are wondering what to do about it. Per Monster.com, accounting roles were ranked in the top 10 hardest positions to fill in 2021. And it looks like it might get tougher as we go along. According to the AICPA , over 75% of CPAs will retire in the next 15 years.
ThomsonReuters
FEBRUARY 28, 2022
Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. What is the IRS Form 941? On January 1, 1950, a new plan took effect to collect taxes due under the Federal Insurance Contributions Act (FICA) and under the federal income tax withholding provisions of the Internal Revenue Code (IRC).
Withum
FEBRUARY 8, 2022
Withum has been awarded on the Forbes list of America’s Best Tax and Accounting Firms 2022. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. Previously, Withum received this designation in the Tax category. Now named for both Tax and Accounting, the respective teams are proud of the accolades.
TaxConnex
FEBRUARY 3, 2022
Sales tax has evolved a lot in recent years. So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. And why not? According to the Tax Policy Center, money collected from sales tax can be the leading source for many jurisdictions, constituting 25% to 35% of a state’s revenue.
Advertiser: Paycor
Why are HR leaders so important to business success? Because leaders across the organization, from the C-suite to frontline managers, disproportionately affect employee engagement. It goes back to the old saying: “A boss has the title, but a leader has the people.” Learn more and discover the 3 steps to driving loyalty and engagement: The true power of intentional coaching The secret to optimizing performance The best ways to reward employees & retain top talent Don't miss out, download now!
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