September, 2020

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Why small business owners need to own marketing instead of renting it

DuctTapeMarketing

Why small business owners need to own marketing instead of renting it written by John Jantsch read more at Duct Tape Marketing. Odds are this question has crossed your mind at one point in time if you’re a small business owner: “Should I hire someone in-house for marketing or continue to seek outside help?”. So many small business owners are afraid to hire marketing people internally.

Start-ups 314
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Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time

AdviceForTaxpreparers

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. ABOUT. CONTACT. BOOK. Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time. by Bill Meador, CPA, JD. My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department. Since I do not plan to sell this book through a publishing company, I need another way to market the book to the public.

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COVID Surcharges and Sales Tax

TaxConnex

Lost sales, expenses for cleaning, more time and money for employee protection and training are just some of the reasons for businesses to claim they now have to charge extra to pay for responding to the pandemic (aka, “COVID surcharges”). In many places and for many industries these charges have become commonplace. Dentists’ offices were among the first reopening to charge such fees, followed by hair salons and other businesses that necessitate personal contact.

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PayPal, Mastercard Add 5 EU Countries To Debit Card Offering

PYMNTS

PayPal and Mastercard are bringing the PayPal Business Debit Mastercard to more businesses in Europe. The companies said in a Wednesday (Sept. 23) announcement that the card is now available in France, Austria, Italy, Ireland and Spain beyond its current availability in the United Kingdom, Germany and the United States. Small businesses can have immediate access to their PayPal funds and unlimited 0.5 percent cash back on all of their eligible spending with the debit card.

Retail 145
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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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Paid Sick Leave Laws by State: The Chart, Map, & Accrual Info You Need

Patriot Software

Typically, employers get to choose whether they want to offer types of paid time off, like sick leave, to employees. But depending on your business location, you might not have a choice. Little by little, paid sick leave laws by state are on the rise. If your employees work in a state with mandatory sick […] READ MORE.

payroll 126
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Xero Accounting and Taxes for eCommerce Companies

FusionCPA

As your e-commerce business grows it becomes increasingly complicated and you may be looking at all-in-one solutions like Xero accounting and Xero taxes. Staying current and organized when it comes to your bookkeeping starts to demand more and more time. You and your CFO may be looking for ways to simplify your bookkeeping. On the other hand, you may need to take a more in-depth look into your numbers but don’t have the time to sort through all the data and don’t know where to start to create a

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Deferring Employee Payroll Taxes 

CapataCPA

Deferring Employee Payroll Taxes The U.S. Treasury and IRS have released the initial guidance, Notice 2020-25, to put into operation the President’s Executive Order, which allows employers to defer employee payroll taxes beginning on September 1, 2020. It’s important to note that this relief is intended for the employer, not the employee. The employer is the “affected taxpayer” in this Executive Order.

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5 Steps to Put Your Business on the Right Track to Maintain Sales Tax Compliance

TaxConnex

It has been two years since the US Supreme Court passed the Wayfair decision which paved the way for states to enact economic nexus rules. At this point, the majority of finance professionals understand the need to maintain sales & use tax compliance. Most businesses have some type of process in place although it may not be comprehensive enough.

Sales 243
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European Central Banks Demand Strict Cryptocurrency Regulations

PYMNTS

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. 11), the finance ministers of Germany, France, Italy, Spain and the Netherlands said they asked the executive branch of the European Union (EU), the agency responsible for managing the day-to-day business of the EU’s 27 nations, to

Finance 145
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Get Ready to Mark Your Calendar! Here’s What Happens If Payday Falls on a Bank Holiday

Patriot Software

Between 50% – 78% of workers live paycheck to paycheck. These employees (and likely all employees) count on receiving their wages on their scheduled pay date. But, bank holidays might pose a slight hiccup. What happens if payday falls on a bank holiday? What happens if payday falls on a bank holiday—or around it? Although […] READ MORE.

payroll 102
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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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PPP Update: Owner Compensation, Payroll Costs, and Self-Rental Costs

Katz,Sapper&Miller

The U.S. Small Business Administration (SBA) officially opened the Paycheck Protection Program (PPP) forgiveness application portal to lenders on Aug. 10, 2020. Some banks are accepting applications and borrowers are beginning to prepare loan forgiveness applications. Recent guidance provides significant clarifications regarding owner-compensation limitations, payroll costs, and self-rental costs.

payroll 96
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Taxes in the Telecom World: Misconceptions and Advice

TaxConnex

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. Taxes are an integral part of the telecom world. Taxes, fees and government surcharges on telecommunications services increased from 19.1% to 21.7% in 2019 (even as average monthly bills for consumers actually dropped). In talking with countless telecommunications service providers about their various tax and regulatory requirements, there are some recurring themes I hear that can

Tax 237
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Latest Developments in State and Local Sales Tax

TaxConnex

In Alabama , rising pandemic-related online shopping has been a “life saver” for the state’s municipal governments and a “financial vaccine for Alabama’s counties,” the state said. The state’s SSUT has taken in more than $309 million overall during the current fiscal year – almost double the tax generated during all of fiscal 2018-19. The number of online retailers in the program has also grown from fewer than 200 in 2017 to more than 2,900 today.

Sales 231
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6 (Not So) Simple Steps to Sales Tax Compliance

TaxConnex

Sales tax is complicated. Many sales tax companies will tell you it’s simple with their solution, but when you take a look at all that goes in to compliance – you will understand that no technology can fully automate or manage sales tax without a good bit of project management from your side. In this blog , we’ll take a look at the 6 steps to compliance and some of the complexities that go with them.

Sales 225
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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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Deloitte Becomes First Of Big Four To Break Up Business

PYMNTS

Deloitte will be the first of the “Big Four” auditors to break up its business after selecting a new auditing board to undertake the task, according to a report from The Telegraph. The company, along with fellow Big Four members EY , KPMG and PwC , had been warned by watchdogs that their businesses needed to break off their profitable consultancy arms from audit divisions.

auditor 145
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Visa: Real-Time Settlement, Online Marketplaces Help Put SMBs Back On The Road To Recovery

PYMNTS

Online marketplaces are the digital storefronts helping small to mid-sized businesses survive — but adding real-time settlement into the mix can help them thrive. To that end, joint research between PYMNTS and Visa , in a study titled Marketplaces as Retail’s New Front Door , found that 60 percent of surveyed businesses that are not currently using online marketplaces would like to do so.

Maine 141
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Amazon One Lets Consumers Pay With Their Hand

PYMNTS

“Talk to the hand” will take on new meaning starting Tuesday (Sept. 29). CNN reports Amazon has introduced the latest touchless way to pay at checkout. Dubbed Amazon One, the method allows users to pay with the palm of their hand at some of its stores. The giant eCommerce website can now connect a stored credit card with a palm print. Here’s how it works: place the palm of your hand above a sensor and purchase products at checkout-free Amazon Go stores.

Missouri 139
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Banks Push Back On Possible Banking Charters For Big Techs Like Amazon And Facebook

PYMNTS

A U.S. House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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SWIFT To Create New Cross-Border Real-Time Rails

PYMNTS

SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. 16) that its cross-border platform will be retooled to enable financial institutions to deliver instant transactions. Over the next two years, the Belgium-based cooperative said the initiative will provide transaction management services. The new approach promises to create new value-added services to support business growth.

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Hilton Hotel In Times Square To Close

PYMNTS

The Hilton Times Square is the latest victim of the coronavirus pandemic. In a filing with New York’s State Department of Labor Monday (Aug. 31) the managing director of the 44-story landmark said it will close permanently next month and 200 jobs will be lost. The iconic hotel on West 42nd Street was shuttered and furloughs began in mid-March as COVID-19 struck the city, The Wall Street Journal (WSJ) reported.

New York 138
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Paytm President: Going From Mobile Payments To India’s Connected Commerce Ecosystem

PYMNTS

As India approaches the fourth anniversary of 2016’s demonetization, the landscape that has defined the country and economy is undergoing a radical shift. India has heretofore been a cash-based economy, where even consumers shopping online often paid in physical currency via cash on delivery (COD). But several years of a regulatory push have combined with the increasing presence of India’s Unified Payments Interface (UPI) and six months of COVID-19 to markedly reduce Indian consumers’ fondness f

Gambling 135
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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Digital dollars could make the leap from concept to reality, but there might be a few ways to get there. Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Her speech, entitled “Payment and the Pandemic,” included a section on digital currencies.

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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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Mastercard Leads New Central Bank Digital Currency Test Platform

PYMNTS

Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). In a Wednesday (Sept. 9) news release, Mastercard said a recent survey revealed 80 percent of central banks are engaged in some form of CBDCs, while 40 percent have moved from research to experimenting with concept and design, according to by the Bank for International Settlements.

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Using 5G To Build Tomorrow’s Smart Cities, Today

PYMNTS

Smart cities powered by 5G networks have long been forecast as coming soon to major metros all over the world. But actual progress has been limited by various regulatory and technological headwinds that have kept the connected smart city more a vision of the future than a concrete reality of the present. However, CEO Ian Aaron of Ubicquia , a smart cell and smart grid technologies company, told PYMNTS that the past half year has changed the outlook for smart cities.

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Jacksonville Jaguar Fans Can Now Pay Via QR Codes

PYMNTS

The Jacksonville Jaguars are now allowing QR-based mobile payments at retailers and concessions at the TIAA Bank Field Stadium through a mobile Jags Pay wallet in the official team app, according to a report from NFCW. Supporters have already been using the app to access tickets on game day to enter the stadium. Android and iOS mobile phone users can link credit or debit cards to the Jags Pay wallet through the Jags App, and make mobile payments at any of the points of sale at the stadium.

Gaming 130
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B2B Payments Drive Instant Payments, Crypto Innovation

PYMNTS

New payment rails are once again in the spotlight as real-time payments and cryptocurrency emerge as the top focuses for innovators. In this week’s look at payment rails innovation, the European Union begins paving the way for greater crypto adoption, while Mastercard expands its own crypto accelerator initiative. Separately, research finds B2B payments as the key driver behind surging instant payments volume in the years ahead.

B2B 129
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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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eCommerce Spurs The Great Logistics Shift

PYMNTS

In the great digital shift, logistics firms are shifting, too. The ripple effects, of course, extend up and down the logistics and transportation chains, getting products where they need to go. As The Wall Street Journal reported, the rise of eCommerce giants is changing the way even the largest container firms are doing business. In one example, Rodolphe Saadé, chairman and CEO of the globe’s fourth-largest container firm, CMA CGM, said in an interview that “clients like Amazon and Walmart ar

cma 128
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Flywire, Mastercard Team On Cross-Border Tuition Payments

PYMNTS

Flywire will work with Mastercard to provide discounted foreign exchange rates on cross-border tuition payments for students, according to a press release emailed to PYMNTS. The offer will be available for any school around the world offering Flywire as a payment method for international tuition through the 2020 fall term for students from the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Kenya and Ghana, the release stated.

Education 126
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Musicians Pick Up The Tempo On Adopting Digital Payments

PYMNTS

The conventional wisdom may hold that creative types — musicians among them — are not the savviest of business mavens. Anecdotes abound, of course, in the popular music industry of artists who had huge hits — and rarely saw much cash flow, as royalties were siphoned off by others, or simply never made it into the right accounts. Or accountants did not do much accounting.

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Police Allege Money Launderers Are Using Chinese eCommerce Sites To Move Money

PYMNTS

Chinese authorities have made a series of arrests alleging more than $2 billion was laundered at offshore gambling sites through faux eCommerce purchases. The Financial Times (FT) reported police acknowledged that in a scheme to avoid China’s tough financial regulations, thieves have targeted sites including Pinduoduo Inc., the Shanghai-based company that calls itself the world’s largest online platform.

Gambling 124
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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.