TaxConnex
NOVEMBER 30, 2021
When you look at the details involved in your sales tax compliance process – preparing and filing returns, updating the filing calendar, managing notices, monitoring nexus thresholds and on and on – it’s easy to see why you need to simplify the process wherever possible. One important factor is consistent, properly formatted data with the necessary data fields.
SMBAccountant
NOVEMBER 4, 2021
Income but no cash?! How does that happen?? How could a business be making money according to their profit and loss but have no money… or even worse, negative cashflow? This answer can vary depending on whether the company’s books are kept on a cash basis or accrual basis, but the general premise is the same. A company pays cash for things that don’t show up on the profit and loss.
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RogerRossmeisl
NOVEMBER 17, 2021
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company (LLC) or S corporation. There are many factors to consider and proposed federal tax law changes being considered by Congress may affect your decision.
BurklandAssociates
NOVEMBER 9, 2021
I’ve spoken with hundreds of founders at Consumer startups over the years, and from a Finance and Accounting perspective, the same four pain points come up over and over again. Read More. The post The Top Four Finance Pain Points for Consumer Startups appeared first on Burkland.
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.
PANALITIX
NOVEMBER 18, 2021
RESOURCES / ARTICLES. Should You Be Using More Video In Your Firm’s Communication Strategy? PART 1. Video is the most powerful way to communicate your message today. And according to Wyzowl ’s 2021 State of Video Marketing Report, the pandemic has led us to consume more video than ever before. Here are a few other statistics from that study: 1. When consumers were asked about how they’d most like to learn about a product or service: 69% said they’d want to watch a short video. 18% said they’d l
Withum
NOVEMBER 17, 2021
This Thursday, November 18, I will be presenting a program for the East Brunswick Public Library Take a Business Break series on How to manage unmanageable debt from Noon to 1:00 PM. The program is Free, courtesy of the Library and Withum.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
SMBAccountant
NOVEMBER 17, 2021
Almost every business has some sort of payroll to pay their employees. Payroll can become much more complicated than some assume and it often has a substantial impact on financial results. The largest expense for many businesses is their labor expense, yet it’s often the most misunderstood. One of the most common errors is derived from posting expenses as cash comes out of the bank.
RogerRossmeisl
NOVEMBER 16, 2021
Typosquatting takes advantage of an inclination among internet users known as “fat fingers” — a tendency to hit the wrong keys and enter misspelled trademarks or brands. Like phishing, typosquatting is a type of social engineering that tricks people into visiting websites they didn’t intend to visit. These schemes can harm both consumers and the businesses whose names are abused.
BurklandAssociates
NOVEMBER 30, 2021
As concern over global warming grows around the world, VC investment continues to accelerate in Foodtech. The sector positions itself as a sustainable alternative to the existing food ecosystem and Read More. The post Foodtech Investment is Accelerating, Especially in BioEngineered Foods appeared first on Burkland.
PANALITIX
NOVEMBER 17, 2021
RESOURCES / ARTICLES. Should You Be Using More Video. In Your Firm’s Communication Strategy? PART 1. Video is the most powerful way to communicate your message today. And according to Wyzowl ’s 2021 State of Video Marketing Report, the pandemic has led us to consume more video than ever before. Here are a few other statistics from that study: 1. When consumers were asked about how they’d most like to learn about a product or service: 69% said they’d want to watch a short video. 18% said they’d
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ThomsonReuters
NOVEMBER 18, 2021
QUESTION: What is an excepted benefit HRA (EBHRA)? ANSWER: EBHRAs are limited-dollar HRAs that qualify as excepted benefits and thus are not subject to the PHSA mandates. They can be offered by employers of any size that want to provide an account-based supplement to their group health coverage without being constrained by the requirements for integrated HRAs.
TaxConnex
NOVEMBER 4, 2021
TaxConnex is pleased to announce the completion of their second annual sales tax survey finding that the increasing sales tax complexities, growing nexus, fear of sales tax audits and limited resources to do what is necessary to remain compliant are among the top worries of financial professionals heading into 2022. The nationwide survey, conducted by In90Group in September of 2021, is composed of responses from 100 top finance professionals in a variety of industries on their thoughts and exper
Withum
NOVEMBER 3, 2021
NBC has a new series, “Ordinary Joe,” on Monday nights at 10:00 ET. I really like it and want to share some info about it. It is about Joe Kimbreau, who makes a life-altering choice on the night of his college graduation.
RogerRossmeisl
NOVEMBER 2, 2021
Background Businesses are having difficulties hiring an adequate number of employees as the economy resets after the COVID-19 lockdowns and their aftermath. As such, small businesses are having to think outside the box as they work toward locating amenable workers. If your small business hires a “targeted group” member, you are afforded the ability to claim the lucrative federal Work Opportunity Tax Credit (WOTC) for a portion of wages paid to such an individual.
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.
BurklandAssociates
NOVEMBER 2, 2021
Welcome to the third post of our Surviving Due Diligence series of tips and suggestions for startups exploring or undergoing investment rounds, exit conversations, and other transactions. Early-stage founders, particularly Read More. The post Surviving Due Diligence, Part 3: Cap Tables appeared first on Burkland.
MazumaBusinessAccounting
NOVEMBER 5, 2021
Stress, illness, and a near-death experience. That’s what propelled Maureen Wendy Dearborne to find her calling in life. From a broken engagement to missed promotions at work, Wendy felt like her life was unraveling. “I was blaming everybody and everything for every woe in my life,” she says. But Wendy’s perspective changed when her life was nearly cut short by illness. “I had a near-death experience when I was 21 years old,” she says, adding with a laugh,
xendoo
NOVEMBER 23, 2021
Endeavor Miami hosted their y.FTL panel, the second panel in their y.FLORIDA series. Lil Roberts, Xendoo’s CEO was one of the speakers. As Florida’s entrepreneurial ecosystem continues to develop they will continue to shed light on the strength of Florida’s entrepreneurs. Honored to be part of an amazing night with incredible people!
TaxConnex
NOVEMBER 18, 2021
Most businesses don’t set out to be non-compliant with sales tax, or anything for that matter. In fact, you probably have the best of intentions of meeting your sales tax obligations in the future. But what about sales tax liability from prior months? Prior-period liability can be extremely costly as states and jurisdictions crack down on non-compliance.
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
Withum
NOVEMBER 23, 2021
Thanksgiving has always been a special day. Growing up, it was a holiday with a family gathering made special because I did not have to sit through the adults saying prayers or reading from a religious book. Thanksgiving was also special because I was with my cousins and a ton of my aunts and uncles. It seemed the goal of Thanksgiving was to have fun and a great big meal with all the extras I could fit into my stomach.
RogerRossmeisl
NOVEMBER 5, 2021
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Background information The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed workers — one for Old Age, Survivors and Disability Insurance, which is commonly known as the Social Secur
BurklandAssociates
NOVEMBER 24, 2021
Foreign currency exchange can have a significant impact on revenue and M&A transactions. This article explains how Burkland’s accounting team handles the complexities of foreign exchange transactions. Foreign Exchange Effects Read More. The post Foreign Exchange Accounting Practices: Effects on P&L and M&A appeared first on Burkland.
ThomsonReuters
NOVEMBER 24, 2021
QUESTION: A recently terminated employee has elected COBRA for himself, his spouse, and his children. He notified us within a month after his termination that his spouse is disabled, received a Social Security Administration (SSA) disability determination several years ago, and is receiving Medicare. We know we must offer COBRA coverage to the entire family, but must the plan provide a disability extension (from 18 months to 29 months) due to the spouse’s disability?
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xendoo
NOVEMBER 23, 2021
Success is not about luck and chance. It’s about visionary leaders who intentionally pursue the critical elements every business needs to be successful. Join Kison Patel from Boss Move Podcast and his guest Lil Roberts , Founder, and CEO in the episode Critical Elements of Success as they talk about the secret ingredients for success and how to get them.
TaxConnex
NOVEMBER 16, 2021
The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. Between the second quarter of 2020 and the second quarter of 2021, online sales in the United States grew by 28 percent. States are eager to take a portion of these sales and include them in their general tax revenues.
inDinero Tax Tips
NOVEMBER 4, 2021
Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. Having proper documentation of all your income and expenses is the easiest way to pass an audit. In this article, we will discuss what an audit is, why you might get audited, and how to prepare for an audit.
RogerRossmeisl
NOVEMBER 17, 2021
Despite the business community’s rapid adoption of digital payment methods, some companies continue to rely on paper checks. But there’s a long-standing problem with checks: They make businesses vulnerable to several damaging types of fraud, including check kiting. Here’s how the scheme works. Riding the float In a check kiting scheme, the perpetrator takes advantage of the “float,” or the time between when a check is deposited and when the bank collects funds on the check.
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"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.
BurklandAssociates
NOVEMBER 22, 2021
The rapid growth of crypto assets has challenged regulators to standardize and issue timely authoritative guidance for crypto accounting. The AICPA has issued guidance outlining how companies should account for Read More. The post Crypto Accounting: An Open Letter to the FASB appeared first on Burkland.
ThomsonReuters
NOVEMBER 11, 2021
Rev. Proc. 2021-45 (Nov. 10, 2021); IRS News Release IR-2021-219 (Nov. 10, 2021). Rev. Proc. 2021-45. News Release. The IRS has released the 2022 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including limits relating to health FSAs, qualified transportation fringe benefits, qualified small employer health reimbursement arrangements (QSEHRAs), adoption assistance, DCAPs, the small business health care tax credit, the premium tax credit, and Archer MSAs.
Withum
NOVEMBER 30, 2021
GE , Johnson & Johnson and Toshiba just announced planned spinoffs and IBM just completed one. These are big and well-known companies so there must be something to this, and perhaps the beginning of a trend. Question: What does this mean to stockholders?
xendoo
NOVEMBER 19, 2021
Tracking business expenses is one of the smartest things you can do to take control of your company’s finances. With better organization, you’ll find that your business is more streamlined and profitable, and you’ll be dealing with fewer headaches when tax season rolls around. . If you ever find yourself facing an IRS audit, proper tracking provides the documentation you need to validate your income and deductions.
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.
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