Insightful Accountant
AUGUST 7, 2024
Current IRS focus areas include renewable energy tax credits, corporate stock repurchase taxes, and cryptocurrency transactions. But, with the upcoming election, accountants and tax professionals are anticipating more widespread regulatory changes.
TaxConnex
AUGUST 8, 2024
Many industries come with confusing sales tax complexities. So does agriculture, and several aspects make this industry trickier than others for sales tax. Here are points to keep in mind regarding sales tax and agriculture. Laws vary by state Sales tax changed dramatically in 2018 with the Supreme Court Wayfair decision in a case that greenlighted states mandating online retailers collect and remit sales tax on transactions in states where they had no physical presence.
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AccountingDepartment
AUGUST 14, 2024
In today's competitive landscape, small and medium-sized businesses (SMBs) need every advantage they can get to thrive and grow. One powerful tool that can significantly impact a company's bottom line is forecasting.
TaxConnex
AUGUST 1, 2024
If it seems like jurisdictions just ceaselessly add additional sales tax laws, statutes and restrictions, recent news out of three states should be refreshing. North Carolina has become the latest state to ax transaction thresholds for economic nexus. The state’s previous 200-transaction threshold was eliminated effective July 1. The state’s economic nexus threshold is now just $100,000 in sales into the state annually.
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The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
CPA Practice
AUGUST 19, 2024
By Mark Luscombe, CPA, JD, LLM. U.S. Olympians have won 40 gold medals, 44 silver medals, and 42 bronze medals at the 2024 Olympic Games in Paris, for a total of 126 medals. And that is only half of it. With many events involving teams, relays and other multiple participants, the number of medals presented to U.S. athletes is over twice that number, with around 125 gold medals, 98 silver medals, and 93 bronze medals distributed to individual winning participants.
CPA Practice
AUGUST 7, 2024
The Internal Revenue Service and the Security Summit partners are reminding tax professionals that using multi-factor authentication is now more than an important protection for their businesses and their clients – it’s now a federal requirement. All tax professionals are now required under the Federal Trade Commission’s safeguards rule to use multi-factor authentication, or MFA, to protect clients’ sensitive information.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
AUGUST 11, 2024
Many Americans receive disability income. Are you one of them, or will you soon be? If so, you may ask: Is the income taxed and if it is, how? It depends on the type of disability benefit and your overall income. The key issue is: Who paid for the benefit? If the income is paid directly to you by your employer, it’s taxable to you just as your ordinary salary would be.
Accounting Today
AUGUST 12, 2024
Accountants are generally pessimistic about the economy as a whole, but feel much more confident when it comes to their own firm and clients.
Accounting Today
AUGUST 21, 2024
Both presidential candidates have floated it, and there are benefits for both workers and employers — though not always how you'd expect.
Patriot Software
AUGUST 14, 2024
HR compliance can be a nightmare for overwhelmed small business owners. You need buttoned-up HR processes to avoid compliance-related penalties and lawsuits. This takes time—a commodity most business owners don’t have. Is it possible to streamline your HR processes to stay compliant with federal, state, and local regulations? Yes.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
TaxConnex
AUGUST 27, 2024
Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much? As if managing sales and use tax obligations on a multi-state level wasn’t hard enough, some states make it even tougher with “home rule,” where jurisdictions are granted the authority to pass their own, additional tax laws. This can create deep confusion for businesses with no physical presence in a jurisdiction with these rules.
BurklandAssociates
AUGUST 27, 2024
Tips and examples to help you present your startup's financial data to your board of directors with maximum efficiency and impact. The post Financial Reporting for Board Meetings for Early-Stage Startups – Part 2, Reporting Examples appeared first on Burkland.
RogerRossmeisl
AUGUST 11, 2024
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to 2011, they were designated as “Patriot Bonds” as a way for Americans “to express support for our nation’s anti-terrorism efforts,” according to the U.S. Treasury Department.
CPA Practice
AUGUST 9, 2024
The 2023 version of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests , requires information to be reported contingent upon the finalization of substantially all of a partnership’s tax return by January 31, months in advance of the due dates for Form 1065 and related Schedules K-1. These new filing requirements place an undue burden on taxpayers and tax practitioners by mandating the duplicate reporting of information already required to be reported on Schedules K-1.
Speaker: Gerald Ratigan
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
Accounting Today
AUGUST 26, 2024
Millionaires only accounted for 0.22% of total returns filed this year for the 2023 tax season.
Patriot Software
AUGUST 13, 2024
Is creating, updating, and keeping a compliant company handbook stressful? Drafting a federal- and state-compliant handbook is daunting for many business owners and HR professionals. It can take weeks of research, writing, formatting, and editing. But it doesn’t have to. An employee handbook builder can streamline the process.
TaxConnex
AUGUST 20, 2024
At first glance, the sales and use tax requirements for a contractor seem quite simple. Contractors are typically considered the end-user/consumer of all tangible personal property purchased and used by them in conjunction with the performance of a contract to improve real property. As such, all purchases by a contractor are usually subject to sales and use tax.
BurklandAssociates
AUGUST 13, 2024
Demonstrate a clear grasp of these metrics, and you’re well on your way to building investor confidence and securing capital to fuel your SaaS startup’s growth. The post The SaaS Founder’s Guide to Seed Stage Fundraising Metrics appeared first on Burkland.
Speaker: Sean Yoder
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
RogerRossmeisl
AUGUST 11, 2024
Regardless of their size, businesses rely heavily on technology. Although your network and computer-related tools are essential to function, they’re also a potential liability because they can offer cybercriminals access to your company. To protect against this complex and ever-evolving threat, businesses must deploy a comprehensive cybersecurity program.
CPA Practice
AUGUST 25, 2024
Determining the taxability of digital goods can be challenging for businesses. Most of us engage in many activities online, using software, reading ebooks, or streaming digital media for hours each day. Yet some states still haven’t clearly defined how sales and use tax applies to digital goods and services. To help you better understand digital products sales tax, this blog will explain: How do you define digital products for sales tax?
Accounting Today
AUGUST 21, 2024
The Internal Revenue Service and its partners have identified half a dozen steps for safeguarding taxpayer information.
MyIRSRelief
AUGUST 23, 2024
Owing money to the IRS can be a daunting experience, but it’s important to know that you have options. The IRS offers several programs to help taxpayers manage their tax debt, including payment plans, offers in compromise, and other relief options. In this article, we will explore these options in detail and discuss how our representation tax firm can assist you in navigating these complex processes.
Speaker: Joe Wroblewski, Sales Engineer Manager
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
TaxConnex
AUGUST 15, 2024
General tax laws are strange. Maybe sales tax laws make more sense? You can be the judge of that. In Florida, you can get a tax break for displaying a cow on your property. You can get a big tax break in New Mexico if you just live to 100. Louisiana lets small private aircrafts soar tax-free, and Connecticut extends that to bigger planes. Some taxes are used to benefit specific groups.
BurklandAssociates
AUGUST 20, 2024
Increase trust with your board and improve meeting outcomes; key strategies for presenting crucial financial data. The post Financial Reporting for Board Meetings for Early-Stage Startups – Part 1, Reporting Best Practices appeared first on Burkland.
RogerRossmeisl
AUGUST 11, 2024
As appearing in IR-2024-203 Agency accelerates work on complex credit as more payments move into processing. Vigilance, monitoring continues on potentially improper claims On 8/8/24, the Internal Revenue Service announced additional actions to help small businesses and prevent improper payments in the Employee Retention Tax Credit program, including accelerating more payments and continuing compliance work on the complex pandemic-era credit that was flooded with claims following misleading mark
CPA Practice
AUGUST 21, 2024
By Zach Mentz cleveland.com (TNS) The annual cost-of-living adjustment for Social Security benefits is expected to decrease in 2025, according to a new estimate. The Social Security cost-of-living adjustment (COLA) for 2025 is projected to be 2.57%, down from the 3.2% COLA implemented in 2024 , according to The Senior Citizens League. That figure also represents a decrease from 2.63% in July’s COLA estimate, but is equal to the 2.57% projected in TSCL’s June estimate.
Advertiser: Paycor
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Accounting Today
AUGUST 5, 2024
Beverage giant Coca-Cola said that it will pay the very old debt, but it is still appealing.
MyIRSRelief
AUGUST 2, 2024
The cannabis industry is one of the fastest-growing sectors in the United States, with more states legalizing its use for medicinal and recreational purposes. However, despite state-level legalization, cannabis remains a Schedule I controlled substance under federal law. This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC).
TaxConnex
AUGUST 22, 2024
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. Another RDFer? The state of Washington is inching toward instituting a retail delivery fee. “Analysis reveals that a fee in Washington of 30 cents per order could generate between $45 and $112 million in revenues in 2026, growing to between $59 and $160 million by 2030,” reads a recent report by the Washington State Joint Transportation Committee.
BurklandAssociates
AUGUST 6, 2024
Don’t let these common startup budgeting blunders hold your business back from reaching its potential. The post 12 Common Startup Budgeting Mistakes to Avoid appeared first on Burkland.
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