TaxConnex
JANUARY 13, 2022
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. State updates. Kansas Gov. Laura Kelly has asked the state Department of Revenue to work with state legislators representing the communities impacted by recent wildfires to fast-track legislation extending the sales tax exemption for fence materials and services.
BurklandAssociates
JANUARY 10, 2022
It’s easy to forget about taxes in the early days of a startup’s formation when you are pre-revenue and working on product or service market fit. It’s understandable why most Read More. The post 8 Common Startup Tax Mistakes to Avoid appeared first on Burkland.
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RogerRossmeisl
JANUARY 11, 2022
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the credit The FICA credit applies with respect to tips that your employees receive from customers in connection with the provision of food or beverages, regardless of whether the food or beverages are for consumption on or off the premises.
PANALITIX
JANUARY 13, 2022
RESOURCES / ARTICLES. Learning For Success in 2022. What would you like to learn in 2022? . We’re not talking about your Continuing Professional Education (CPE) obligations. We’re talking about what would really BENEFIT you. What you would ENJOY. What you would most VALUE in terms of education. Panalitix has been reorganising our huge volume of learning content into COURSES which are: Short, Sharp, and Action-Oriented… since your time is limited .
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.
TaxConnex
JANUARY 11, 2022
It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. What is it? Shipping. Actually, in terms of sales tax, it’s “shipping,” “shipping and handling” and “delivery” – three animals treated with confusing differences as you try to meet sales tax obligations in many different states and jurisdictions.
Withum
JANUARY 13, 2022
COVID Relief Programs Included: PPP, EIDL, ERC, FFCRA, SVOG, and RRF. The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. From the Paycheck Protection Program (PPP) to the Employee Retention Credit (ERC), small businesses were infused with billions of dollars in government assistance to keep the economy running and businesses afloat.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PANALITIX
JANUARY 11, 2022
RESOURCES / ARTICLES. Learning For Success in 2022. What would you like to learn in 2022? . We’re not talking about your Continuing Professional Education (CPE) obligations. We’re talking about what would really BENEFIT you. What you would ENJOY. What you would most VALUE in terms of education. Panalitix has been reorganizing our huge volume of learning content into COURSES which are: Short, Sharp, and Action-Oriented … since your time is limited .
ThomsonReuters
JANUARY 13, 2022
FAQs About Affordable Care Act Implementation Part 51, Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation (Jan. 10, 2022). Available at [link]. The DOL, IRS, and HHS have issued FAQs Part 51. While six of the FAQs provide anticipated guidance on plan coverage of over-the-counter COVID-19 tests (see our Checkpoint article ), three FAQs address issues relating to the Affordable Care Act (ACA) preventive health services requirements.
Withum
JANUARY 14, 2022
Withum, a national top 25 accounting and advisory firm, announced today that Pat Walsh , Partner and Market Leader for Withum’s National Tax Services Practice, will succeed CEO and Managing Partner Bill Hagaman , after his term ends in 2023. Under Hagaman’s tenure, Withum grew six times in revenue and expanded nationally since January 2010, when he took over the role of Managing Partner.
RogerRossmeisl
JANUARY 11, 2022
The value of a business interest is valid as of a specific date. The effective date is a critical cutoff point because events that occur after that date generally are not taken into account when estimating value. However, there are two key exceptions when subsequent events count. (1) When an event is foreseeable Subsequent events that were reasonably foreseeable on the effective date are usually factored into a valuation.
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
xendoo
JANUARY 12, 2022
This year, make things easier on yourself by planning ahead. You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. To help you with this process, we’ve put together this complete guide for filing business taxes in 2022.
ThomsonReuters
JANUARY 13, 2022
FAQs About Affordable Care Act Implementation Part 51, Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation (Jan. 10, 2022). Available at [link]. The DOL, IRS, and HHS have issued FAQ guidance addressing group health plan coverage of over-the-counter (OTC) COVID-19 diagnostic tests under the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Withum
JANUARY 13, 2022
Withum’s Jim Bourke and Ed Mendlowitz continue to shape the public accounting landscape and earn respect from their industry peers. For 2021, by way of 140 candidate votes, Bourke and Mendlowitz ranked on Accounting Today’s Top 100 Most Influential People in Accounting list together for the seventh consecutive year. Withum’s Advisory Services practice, he is continually recognized for his ability to harness the power of innovation through technology within public accounting and
CTP
JANUARY 11, 2022
A common retirement planning myth is that Social Security benefits won’t be around for much longer. Generation X, Millennials, and Gen Z are jokingly told not to worry about Social Security because they’re not going to get any. However, the fact is that the funds that we currently have earmarked for Social Security should last us through 2035 —even if Social Security were to go away for future generations.
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Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.
SkagitCountyTaxServices
JANUARY 12, 2022
The big, emergency SBA loan programs for small businesses (like yours) that were launched (PPP) and expanded (EIDL) over the last couple of years are moving back from the radar or wrapping up. That said, there are still great options for funding your Skagit County business. Including NEW government programs (like the SSBCI , for one — more about that from me later, as it becomes more available), there are a veritable panoply of small business loan options.
ThomsonReuters
JANUARY 14, 2022
Being an accountant means that work often comes in ebbs and flows. The tide moves in every quarter, and there is always tax season. It’s stressful; that’s just part of the business, right? Maybe. Yes, stress is expected, but burnout is entirely different. What is burnout? The fight against burnout starts with managing stress. Sure, stress can be beneficial — your ancestors were certainly grateful for that “fight or flight” response — but burnout is not.
Withum
JANUARY 13, 2022
Following are charts with comparisons of the three major stock indexes where I show the top 10 components of each index and of the sectors they indexes comprise, and what you will one if equal amounts are invested in funds comprised of each of those indexes. Also is a chart showing the 30 components of the Dow Jones Industrial Average (“DJIA”) and the relative weights of each stock in that index.
AccountingDepartment
JANUARY 13, 2022
As you start the new year and continue to seek ways to make this year better than last, it’s time to take another look at outsourced accounting services. Outsourced accounting and bookkeeping solutions help businesses across all industries save time and money. Here’s an overview of how outsourcing helps and the benefits it provides.
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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.
GrowthForceBlog
JANUARY 14, 2022
6 min read. It's become common knowledge that self-awareness is essential to your success as a business leader. Yet, studies prove that while most people believe they are self-aware, only 10-15% of the people actually fit the criteria. [1].
ThomsonReuters
JANUARY 13, 2022
QUESTION: Our company is thinking about adding a high-deductible health plan (HDHP)/health savings account (HSA) option, under which it would contribute to eligible employees’ HSAs. Must our company verify each employee’s HSA eligibility before it makes those contributions? ANSWER: An employer is not required to verify an employee’s HSA eligibility before contributing to the employee’s HSA.
Withum
JANUARY 13, 2022
The Internal Revenue Service (IRS) has made revisions to Form 1024, Application for Recognition of Exemption Under Section 501(a) or Section 521 of the Internal Revenue Code, to permit electronic submission, and has mandated electronic filing. Effective January 3, 2022, applications for recognition of exemption on Form 1024 must be submitted electronically online at Pay.gov.
DMCL
JANUARY 14, 2022
Today marks the first Black Excellence Day in British Columbia. It’s a day to celebrate Black history and learn about Black stories, Black art and Black people and a day to stand in solidarity with Black Canadians. At DMCL, we believe in the importance of uplifting diverse voices. We continue to find and implement ways to share the important stories of racialized groups to provide a more inclusive view of history and society.
Advertiser: Paycor
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GrowthForceBlog
JANUARY 11, 2022
6 min read. If you ask a business owner who their target market is, and they respond with “ everyone ”- that really means “ no one. ”.
ThomsonReuters
JANUARY 14, 2022
The top payroll related searches for 2021. Payroll practitioners and employers alike continue to be challenged by the unique issues that COVID-19 has imposed on payroll administration. Payroll on Checkpoint has analyzed the searches of our subscribers to create this Top 20 list of topics in the forefront in 2021. Employee retention credit. It’s no surprise that the Employee Retention Credit (ERC) was the most searched term of 2021.
Withum
JANUARY 14, 2022
Withum held its annual State of the Firm event on January 10. The event that historically brought team members together in one location from across the globe took place live with streamed virtual attendance this year. This annual meeting gave Withum team members an update on Firm operations, goals and future projections, announced the Withum Strength Award winners and unveiled the greatly anticipated Culture Video for 2022.
LSLCPAs
JANUARY 13, 2022
Congress passed the Corporate Transparency Act (CTA) on January 1, 2021. Compliance is supposed to have occurred by January 1, 2022. However, it’s not quite ready yet. Here’s what we know: According to the United States Financial Crimes Enforcement Network (FinCEN), millions of corporations, LLCs, and other business entities are formed each year that are.
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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.
GrowthForceBlog
JANUARY 14, 2022
It is common for many small businesses dealing with small budgets and staff size to lack a system of internal controls. Key employees may have multiple responsibilities, which increases the chances of business fraud. A survey on occupational fraud found that the average organization lost 5% of its annual revenue, at a median loss of $125,000 per case.
FraudFiles
JANUARY 13, 2022
Doing a lifestyle analysis on a business during a divorce can be very important to find out the truth about the numbers. It involves going down to the detailed transaction level to look for clues about what has really happened with the money. What documents do you need? When a closely held business is being evaluated in connection with a family law case, the following business-related documents may be requested: Business ownership records (stock certificates, charters, operating agreements, joi
ThomsonReuters
JANUARY 13, 2022
Rev. Procs. 2022-1 and 2022-4, 2022-1 I.R.B. 1 and 161 (Jan. 3, 2022). Available at [link]. The IRS has issued its annual update and restatement of the revenue procedures governing letter rulings, determination letters, and other guidance, including guidance about employee benefit plans. These revenue procedures supersede their 2021 counterparts (see our Checkpoint article ) and are generally effective as of their issuance date.
LSLCPAs
JANUARY 11, 2022
By connecting with the internet in the Cloud, QuickBooks Online keeps you instantly and continuously aware of every aspect of your business’s accounting. To name a few benefits, and depending on which version you use, QBO is excellent for managing your inventory, overseeing sales channels, getting paid, shipping and tracking orders, or getting funding.
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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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