TaxConnex

JUNE 29, 2021

A voluntary disclosure agreement (VDA) is a legal means for taxpayers to self-report back taxes owed for income, sales, property, and other tax types. In exchange for voluntarily reporting the tax due, states offer a waiver of some penalties and other benefits to the business. If back taxes are not disclosed but are instead discovered through an audit, the taxpayer is at a disadvantage and will end up being assessed various penalties plus interest plus all historical tax due.

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audit Tax Sales Legal 200

RogerRossmeisl

JUNE 25, 2021

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is covered under a “high deductible health plan.

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Account accountant accounted CPA 147

PANALITIX

JUNE 14, 2021

RESOURCES / ARTICLES. Best Practices for . (Annual) Strategy Meetings. Partners, owners and/or managers of accounting businesses need to work on business strategy from time to time. These sessions can be hugely productive or… frankly… a waste of time. In this article we look at some best practices in strategy meetings which will help you get the best outcomes. .

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Start-ups tax planning Tax Account 130

BurklandAssociates

JUNE 2, 2021

VC deal flow to Consumer startups accounted for well over 40% of all venture deals in 2020 and a whopping 46.6% in Q1 2021. The post VC Deal Flow Was Dominated by Consumer Startups in 2020 appeared first on Burkland.

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Account accountant accounted 146

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.

Account

GrowthForceBlog

JUNE 2, 2021

Summer is here- which means sunshine, the smell of freshly mowed grass, and some much-needed downtime is right around the corner. But as a business owner, it's much more than that. For some, the approaching summer translates to a slow and lean period. For others, business is booming. Whichever category your small or medium-sized business falls into, the summer months offer some unique opportunities, as well as challenges, that all businesses need to prepare for ahead of time.

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MazumaBusinessAccounting

JUNE 18, 2021

If you’re wondering, “How many years can I take a loss on my business?” then you’re probably reaching a point where you’ve been claiming too many losses on your taxes. The Internal Revenue Service (IRS) only allows your business to be in the negative for a certain number of years before it declassifies it as a business.

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audit Tax accounting and finance Finance 105

RogerRossmeisl

JUNE 15, 2021

High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some steps you may be able to take to reduce its impact. The NIIT applies to you only if modified adjusted gross income (MAGI) exceeds: $250,000 for married taxpayers filing jointly and surviving spouses, $125,000 for married taxpayers filing separately, $200,000 for unmarried taxpayers and heads of household.

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income tax Tax CPA cpa firm 246

PANALITIX

JUNE 20, 2021

RESOURCES / ARTICLES. Best Practices for . (Annual) Strategy Meetings. Partners, owners and/or managers of accounting businesses need to work on business strategy from time to time. These sessions can be hugely productive or… frankly… a waste of time. In this article we look at some best practices in strategy meetings which will help you get the best outcomes.

Start-ups 130

Start-ups tax planning Tax Account 130

BurklandAssociates

JUNE 29, 2021

The investment environment is tilted in favor of startups right now. And that means there’s a high likelihood you’ll be able to raise capital — in fact, it’s as high Read More. The post Evaluating Fit Between Entrepreneur and Investor appeared first on Burkland.

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xendoo

JUNE 30, 2021

Partnering with Gusto today means a better tomorrow for Xendoo customers. As a small business owner, you juggle multiple roles… bookkeeping, human resources, marketing, and all that goes into running your business every day. You love what you do and wish you could leave the complicated, boring stuff out of your day-to-day. Xendoo feels your pain, we recognize that bookkeeping and payroll are integral to your company’s operational success and your peace of mind.

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bookkeeping payroll payroll tax Tax 105

Advertiser: Paycor

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.

MazumaBusinessAccounting

JUNE 30, 2021

There are many obvious perks that come with owning your own business, including setting your own schedule, being your own boss, and having control over your career. But there are also many tax benefits business owners can take advantage of to maximize their profits. Here’s a quick guide that covers important tax deductions for your business. What Will a Deduction Save Me?

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Tax Education accounting and finance Finance 98

TaxConnex

JUNE 1, 2021

Collecting and remitting sales tax can be onerous – and expensive – for any business. That’s one reason some states give a collection discount to help with the costs of managing sales tax. States offer it as a way of helping to pay administrative costs of compliance. And if it sounds like free money, it can be if your company knows how to take advantage of it in states where you have nexus.

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Sales Tax South Carolina Utah 231

RogerRossmeisl

JUNE 10, 2021

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes.

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payroll tax payroll CPA Tax 246

Patriot Software

JUNE 17, 2021

Whether you offer time off or need to process direct deposit, staying on top of legal holidays is a must. And when it comes to Juneteenth, you need to keep updated with the latest federal and state holiday status changes. So, what is Juneteenth, and is it a legal holiday? Get out your reading glasses. […] READ MORE.

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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

JUNE 23, 2021

Some startups have been blindsided by the ramifications of letting teams work from anywhere and everywhere. Here's what you need to know. The post Legal, Tax & Culture Implications of Remote Work at Startups appeared first on Burkland.

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Legal Tax 130

xendoo

JUNE 25, 2021

Editor’s Note: This post was originally published in November 2019 and has been revamped and updated for accuracy and comprehensiveness. . As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited to do great work for your clients, whether buying or selling pieces of property. .

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ThomsonReuters

JUNE 15, 2021

Starting your own CPA firm may seem like a distant fantasy, but with barriers to entry lower than they’ve ever been, it could be closer than you think. If you’ve been wondering if it’s time to break free, here are five signs that you’re ready to be your own boss. You have the experience. Most small CPA firm owners have years of experience working for larger firms and find themselves wanting to utilize that experience to serve clients in their own way.

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TaxConnex

JUNE 15, 2021

They said it would be simple. They said they could automate it all, but in fact, you’re still doing a lot of the work. Why are you paying more penalties for missed notices and late payments than you were before you started working with your sales tax vendor? Guess what – we frequently hear these situations from businesses ready to make a switch. The good news is there are other providers that put the client first and ensure sales tax is managed correctly.

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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

RogerRossmeisl

JUNE 9, 2021

Bad faith denials of claims by insurers are illegal, but some dishonest companies or agents attempt them anyway. It’s possible that just when you have the greatest need, you’ll find yourself out in the cold. Unfortunately, there aren’t a lot of great legal remedies. So it’s critical to avoid unreliable and fraudulent insurance coverage in the first place.

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MazumaBusinessAccounting

JUNE 4, 2021

Whether you know it or not, you could be leaving hundreds—even thousands—of dollars on the table by missing a few lesser-known small business tax deductions. Entrepreneurs often miss some small business deductions they could qualify for because they didn’t keep accurate records throughout the year, or they shy away from the complications of itemizing each expense.

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business tax Tax Entertainment Education 98

BurklandAssociates

JUNE 15, 2021

The online marketplace model is surprisingly lean and scalable, making it a popular choice for investors and new consumer startups. The post Is an Online Marketplace the Best Model for My Startup? appeared first on Burkland.

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xendoo

JUNE 6, 2021

Ecommerce is booming. Total revenue will reach nearly $4.6 billion in 2021 and grow at an annual rate of 4.6% over the next five years – reaching $5.6 billion by 2025. It’s easy to see why owners of small and medium businesses are asking themselves how they can get a piece of the eCommerce pie. One popular option—the Amazon small business marketplace. .

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bookkeeping Tax Legal Sales 98

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Finance

ThomsonReuters

JUNE 14, 2021

Each year, more than 40 million Schedule K-1 (Form 1065) are sent to US taxpayers, reporting income and other financial information stemming from their participation in partnerships, S corporations, and trusts. Unlike W-2 forms and other IRS-mandated documentation, however, K-1s needn’t be produced in a standard format, so they come in a variety of formats and may include unstructured data, free-form text, footnotes, statements, and disclosures.

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TaxConnex

JUNE 17, 2021

Legalization of cannabis and how it would be taxed has been a discussion for many years. But as states continue to pass laws legalizing the sale of cannabis, the businesses trying to capitalize on the market are struggling with the complexities of taxation as it differs from other sales. States that have legalized the sale of cannabis are reaping the benefits.

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RogerRossmeisl

JUNE 7, 2021

The COVID-19 pandemic has put enormous pressure on global supply chains. As companies struggle to obtain the goods and materials they need, they may not pay as much attention to potential fraud signs. Unethical employees and organized crime gangs have only been too willing to take advantage of the situation. Consider conducting a targeted risk assessment that focuses on the changes that have occurred since the pandemic began.

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CPA 246

AccountingDepartment

JUNE 9, 2021

Kitti Crawford is our Staff Success Ambassador at AccountingDepartment.com and her main function is to assist our new and tenured staff members with training as they grow into their roles here at ADC. Kitti has been with us since 2006 and has been excelling in her current position for the past 4 years. When Kitti was preparing to start college, she had three career paths that were under strong consideration to pursue.

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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.

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BurklandAssociates

JUNE 9, 2021

Customer Success costs are a drag on a startup's Gross Margins, but much less of a drag than losing customers. The post SaaS Customer Success: Gross Margin vs. Churn Trade-Offs appeared first on Burkland.

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Account accountant accounted 130

Withum

JUNE 22, 2021

It should mean nothing. Last week the Fed’s comments about inflation caused the stock market to drop. However, yesterday the market seems to have recovered somewhat.

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ThomsonReuters

JUNE 10, 2021

What You Should Know About COVID-19 and the ADA, the Rehabilitation Act, and Other EEO Laws (May 28, 2021). Available at [link]. The EEOC has updated its guidance on COVID-19-related compliance issues under the ADA, GINA, and other employment laws. In addition to modifying and expanding earlier guidance on employer vaccination programs, the updated guidance adds six Q&As addressing ADA and GINA considerations for employer-provided COVID-19 vaccination incentives for employees and their fami

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TaxConnex

JUNE 8, 2021

There’s always something changing in the world of tax, especially sales tax. And 2021 continues to prove that. Here’s a review of some of the recent changes and updates. Biggest news: Missouri will likely soon join fellow holdout Florida in establishing economic nexus requirements. (They were the last two states with a sales tax to set up such requirements.).

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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.

Finance