March, 2020

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$2.2 Trillion Coronavirus Economic Stimulus and Relief Legislation Enacted; Rebate Checks May Be Larger Than You Think

MarkFriedlich

Wolters Kluwer experts analyze potential tax implications Today, the US Congress passed its third and by far the largest piece of legislation in response to the Coronavirus COVID-19 pandemic, and the President has signed it into law. The “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) includes relief and economic stimulus for individuals and […].

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Episode 066: Look at the Film Industry Tax Credit Business with Irene Waschler

BuildYourFirm

Episode 066: Look at the Film Industry Tax Credit Business with Irene Waschler. The Association for Accounting Marketing has been around since 1989 when accounting firms could start advertising for their services. Tune in to this episode when host Hugh Duffy talks with Irene Waschler of Waschler CPA, LLC about how she got started in the film industry tax credit business.

Tax 178
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ID2020: What’s Needed For Digital Identity In 2020

PYMNTS

Who we are, where we’re headed and what this all looks like on the “other side” of the pandemic are topics on everyone’s mind right now. So are vaccines. So is online shopping, with urgency. All of these subjects share a commonality: IDs. In commerce, knowing (and verifying) who’s on the other side of a transaction can mean the difference between a retailer making a sale to a loyal customer or a fraudster.

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What Is My State Unemployment Tax Rate?

Patriot Software

Running payroll means staying on top of your employment tax responsibilities. In addition to withholding income and payroll taxes from employee wages, you must contribute employer taxes. Unlike some other taxes, state unemployment taxes do not have a standard rate. Read on to answer, What is my state unemployment tax rate? About state unemployment tax […].

Tax 74
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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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KSM Named One of Indiana’s “Best Places to Work” for 15th Consecutive Year

Katz,Sapper&Miller

KSM is honored to be named among the Best Places to Work in Indiana for the 15th consecutive year. Based on employer reports and comprehensive employee surveys, this distinction is awarded by the Indiana Chamber of Commerce. In addition to being a repeat Hall of Fame recipient, KSM is one of only two companies in the state of Indiana to have been named a Best Place to Work every year since the program’s inception.

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Wolters Kluwer’s Continuing Audit Education Adds Value

MarkFriedlich

The value of continuing audit education from the School of Audit During the first few months of each year our lives go on hold as we take care of our clients needs. As auditors, we understand that. However, if you think that your employees are too busy to care about continuing audit education, think again. […]. The post Wolters Kluwer’s Continuing Audit Education Adds Value appeared first on Tax & Accounting Blog.

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State Departments of Revenue Close Physical Locations, Encourage Online Services

MarkFriedlich

How to Contact State Departments of Revenue In an effort to keep tax and accounting professionals abreast of rapidly evolving changes in the tax landscape during the COVID-19 pandemic, we have added a summary of State Departments of Revenue hours and contact methods to the Wolters Kluwer COVID-19 Resources for Tax & Accounting Professionals resource page under Government & […].

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Syncing online scheduling with video conferencing

BuildYourFirm

Syncing online scheduling with video conferencing keeps you in touch with your clients while adhering to Coronavirus safety measures. As the coronavirus precautions and mandates continue, more people are working from home than ever before. Offering an online electronic scheduling tool provides time-saving benefits for both your staff and clients. It not only lets your clients schedule an appointment with you when it’s convenient for them, it saves your employees time scheduling meetings or going

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How 5G Rollouts May Get Boost from COVID-19

PYMNTS

The way we live — the very ways in which we work, and learn, and spend leisure time, and of course, shop — have shifted markedly over the last several weeks. In the maelstrom of daily life grappling with COVID-19, the rollout of 5G , the fifth-generation network that features downloading speeds reportedly 100 times faster than that of 4G, may accelerate even as economic headwinds gather.

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World Health Organization Cautions Against Cash Usage

PYMNTS

The World Health Organization (WHO) is advising people to not use paper tender and to use as many cashless options as possible to help contain the spread of the coronavirus, according to reports. Officials with WHO say that while cash isn’t more or less likely to spread the disease, it can carry the virus just like door handles and hand railings, and can spread it on contact.

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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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California Cops Enlist Drones For Lockdown Enforcement

PYMNTS

A police department in California is going to use drones equipped with loudspeakers to help enforce the state lockdown orders imposed due to the coronavirus, according to a report by the Financial Times. The Chula Vista PD has purchased two drones worth $11,000 each. They’re made by DJI, a Chinese company, and the department plans to also add night vision cameras to the flying vehicles.

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Taking Real-Time Payment Rails To The Tipping Point

PYMNTS

Real-time payments are imperative for running successful operations in today’s global ecosystem. Digital payments sent internationally are expected to move past $1 trillion in 2025, but getting to that point will require support from payment providers, regulators and other such firms still building out the necessary infrastructure. Many of these providers are particularly competing for small- to medium-sized businesses (SMBs) to join their faster payments network over another, which can be trick

New York 121
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Western Union Launches New Video, Phone Tool For Home Money Transfers

PYMNTS

Cross-currency money transfer firm Western Union has announced the launch of Digital Location, a new tool that enables people to send money from home. A pilot of the new channel is being introduced in Austria, Belgium, Italy, Portugal and Oman. Users can choose phone calls or video in multiple languages to connect to a money transfer personal service assistant.

Retail 114
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World Health Organization Target Of Hack

PYMNTS

A hacking organization tried to breach the World Health Organization (WHO) recently, according to a report by Reuters. WHO Chief Information Security Officer Flavio Aggio said the identity of the hacking group isn’t known, and cyberattacks against the organization have increased exponentially during the coronavirus crisis. The hack was discovered by Alexander Urbelis, a cybersecurity expert and lawyer who looks for suspicious internet activity.

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Planning Your Restaurant's Path to Profitability

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.

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China Suspected In Surge Of US Cyberattacks

PYMNTS

U.S. cybersecurity firm FireEye said it suspects China is behind a surge in cyberspying that began in January, just when the coronavirus was starting to seriously spread outside of China, according to a report by Reuters. The firm wrote a report that said it suspected the activity was coming from a hacking group called “APT41.” The attacks began on Jan. 20 and were aimed at more than 75 of FireEye’s customers, which include media firms, healthcare organizations, manufacturers and nonprofits.

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The Innovative ‘Green Shoots’ Growing Out Of COVID-19’s Scorched Earth

PYMNTS

There seem to be countless sources of collateral damage associated with the unexpected appearance of COVID-19 in early 2020 – the shutdown of production in China, the ripples through the global supply chain, the virtual zeroing out of the travel and events vertical and the carnage on Wall Street. The uncertainty injected into the market, as Ning Wang, co-founder and chief business officer at PingPong , told Karen Webster in a recent conversation, is having undeniable effects worldwide – which ar

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French Court Says Bitcoin Is Money

PYMNTS

A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8). The decision came about following a clash between the Bitcoin marketplace Paymium and the crypto investment company BitSpread. The result of the ruling could lead to more activity in the French bitcoin market.

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FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments. The headquarters will be in Salt Lake City, Utah.

Utah 110
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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Fintech Finastra Hit By Suspected Ransomware Attack

PYMNTS

Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. Although the company’s statement doesn’t mention the type of attack specifically, Krebs believes it is likely a ransomware attack based on the reaction. Two sources forwarded internal notices about the outage.

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Fed Could Issue COVID-19 Crisis Money Via eWallets

PYMNTS

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. With passing of the draft legislation, legal adults would receive $2,000 and $1,000 would be provided for each child, Yahoo! Finance reported. . The bills are called the “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act” and the “Take Responsibil

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Biometrics: The Key To Overcoming Contactless Payment Limits?

PYMNTS

Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place.

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Walmart Enacts No-Touch Protocols

PYMNTS

Walmart is enacting no-touch procedures so that customers can shop more safely during the coronavirus outbreak, according to a report by USA Today. Shoppers who buy items through Walmart Pay won’t have to touch the screen anymore, and instead will be able to scan a QR code and pay from an app on their phone. For pickup, customers can simply open their trunks and an employee will load the groceries in, and they won’t ask for a signature.

Retail 107
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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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Lyft Directs Drivers To Pursue Amazon Positions As Rides Decline

PYMNTS

While the coronavirus forces consumers to stay inside, Amazon is joining forces with Lyft to attract drivers for grocery and package deliveries. Lyft has directed its drivers to pursue Amazon positions as warehouse workers, delivery people or grocery shoppers “as a way to earn additional income right now,” Bloomberg reported. The message reportedly came as demand for trips is falling precipitously and drivers are encountering economic hardships.

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Facebook Funds $100M In Grants For SMBs Affected By Coronavirus

PYMNTS

Facebook wants to help small and medium-sized businesses (SMBs) survive the coronavirus pandemic, and is offering $100 million in grants to 30,000 companies in over 30 countries. Sheryl Sandberg, chief operating officer of Facebook, said on her page and in a blog post on Tuesday (March 17) that the social media giant wants to “do our part” to help with the “enormous challenge in front of us.”.

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Apple Resumes Operation Of All China Retail Locations

PYMNTS

After it was forced to shutter its retail locations in China because of the spread of COVID-19, Apple Inc. has reportedly put all of them back into operation. The closures were one of the main reasons the tech company cited for removing its March quarter sales outlook, Bloomberg reported. Apple has been slowly reopening the locations, with 38 of the 42 shops open for business as of last week.

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US House Wants Economic Stimulus Payments To Leverage eWallets

PYMNTS

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. With passing of the draft legislation, legal adults would receive $2,000 and $1,000 would be provided for each child, Yahoo! Finance reported. . The bills are called the “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act” and the “Take Responsibil

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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T-Mobile Hacked, User Data Stolen

PYMNTS

Telecom giant T-Mobile suffered a data breach that exposed the personal information of employees and customers to unknown hackers, according to reports. “We want to let you know about a sophisticated attack that we recently identified and quickly shut down, which may have impacted some of your account information,” T-Mobile said in a notice. The company said there was an attack through email that let in some malicious actors.

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Egypt Limits Bank Withdrawals, Deposits To Curb Inflation, Hoarding

PYMNTS

In Egypt, banks have been told to impose a limit on cash withdrawals and deposits in a move to hopefully stop hoarding and inflation. The new limit will be 10,000 Egyptian pounds ($635) and 50,000 pounds for companies per day. There will be exceptions for those using the money to pay employees, according to a central bank statement. There will also be a limit of 5,000 pounds on ATM withdrawals and deposits, the statement said.

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How Data Guides A New Era For The ERP

PYMNTS

The enterprise resource planning ( ERP ) system has been a staple of corporate finance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement. But the ERP of today doesn’t look like it used to. Enterprise cloud migrations have opened up the ability for smaller businesses to adopt ERP technology once reserved for the largest corporates.

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Making Invisible Payments More Than A Buzzword

PYMNTS

From cash and coins to mobile wallets to wearables … to invisible payments. About 90 percent of purchases are still being made in-store, but the payment modalities are changing — and rapidly. To that end, said Matt Good, senior vice president and general manager of Elan Advisory Services , in an interview with PYMNTS, fledgling ways to pay — where wearables are wielded as payment instruments, and where mobile wallets replace leather ones — will soon become everyday methods.

Education 103
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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.