RogerRossmeisl
MAY 26, 2021
Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pension plan? Two simple retirement savings options to consider are a “simplified employee pension” (SEP) or a “savings incentive match plan for employees” (SIMPLE).
TaxConnex
MAY 25, 2021
Having a full understanding of your sales tax obligations is important for your peace of mind. But, like most things in sales tax, this is easier said than done. It’s difficult enough to keep up with the different economic nexus thresholds per state, but for some states, the revenue thresholds are based on gross sales, and in other states, they are based on taxable sales.
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MazumaBusinessAccounting
MAY 27, 2021
Financial reports can be an incredibly helpful tool for small businesses. They can help you determine how much money you can pay yourself each month. Or they can help you decide if it’s time to expand your business. As helpful as financial reports are, they can only help you if you understand how to read them. Luckily, Ben Sutton, Mazuma’s co-founder and CPA, took the time to explain how an income statement and balance sheet work.
BurklandAssociates
MAY 26, 2021
Jamie Ceglarz joins us to discuss hiring trends and how to attract top talent to your startup in today’s competitive hiring environment. The post How to Hire Top Talent in Today’s Startup Landscape: A Conversation with Jamie Ceglarz with Guild Talent appeared first on Burkland.
Advertiser: Paycor
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
RogerRossmeisl
MAY 28, 2021
The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an itemized deduction on your tax return for real estate taxes and home mortgage interest. Most other home ownership costs can’t be deducted currently. However, these costs may increase your home’s “basis” (your cost for tax purposes).
TaxConnex
MAY 27, 2021
Taking advantage of sales and use tax exemptions can save your business money and headaches. But exemptions can be harder to secure in some states than in others. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer. The presumption is that all sales of tangible personal property are taxable without specific and enumerated exemptions.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
GrowthForceBlog
MAY 26, 2021
5 min read. Last year was a tumultuous time for business. For PR firms, in particular, hanging onto clients was a struggle, because businesses tend to put PR services on the chopping block at the first sign of financial trouble.
RogerRossmeisl
MAY 27, 2021
As counterintuitive as it may seem, law firms aren’t immune to criminal activity. Because some firms place enormous pressure on attorneys to produce billable work, they may be particularly vulnerable to fraud. Your firm needs to know what to look for and how to protect itself from potential schemes perpetrated by partners, associates and support staff.
AccountingDepartment
MAY 26, 2021
Working from home seems like an absolute dream, right? After over a year of a large amount of the United States’ workforce working from home, or in hybrid environments, many got a taste of that dream and the thought of going back to an in-person office is simply dreadful.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
ThomsonReuters
MAY 24, 2021
Amidst the backdrop of the pandemic, there’s never been a more important time to highlight Mental Health Month. It’s been a devastating year and while signs point toward a return to normal, the impact of our mental health on our personal and professional lives remains top of mind. From a small CPA firm perspective, the intensity of the workload during this extended tax season is like nothing we’ve seen before, compounding already heightened stress levels.
xendoo
MAY 26, 2021
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. . You know that filing taxes can be stressful even in the best of times, but as a restaurant owner, tax time can leave you feeling in the weeds because your deductions are exponentially more complex. Never fear, though, because Xendoo is here to help.
CTP
MAY 25, 2021
One strategy regarding income recharacterization is to shift non-passive income to passive income. Non-passive income is any income earned actively by the taxpayer: wages, salaries, self-employment income, etc. Passive income includes income derived from real estate, limited partnerships, interest in dividends, and more. In summary, passive income is any activity where the taxpayer is not […].
Withum
MAY 24, 2021
Charles Grodin passed away last week after an illustrious movie career. It also brought back thoughts of one of my favorite movie roles where he played the accountant helping the “President” played by Kevin Kline in the movie Dave trim costs so the First Lady’s homeless project could be funded. I just loved those scenes.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
LyfeAccounting
MAY 25, 2021
Quick Inflation Tax Explanation. So new data from the Bureau of Labor Statistics shows that inflation is skyrocketing. The consumer price index is showing that inflation has jumped to 4.2% year over year. So quick math here… Basically, if you had $100 this month last year, well it’s worth about $96 today just based on that 4.2% inflation rate.
AccountingDepartment
MAY 24, 2021
Budget variances are the difference between a planned budget amount and an actual amount. An analysis of budget variances will reveal the reason behind failures. It helps point out the trends to make your company a success. A budget analysis should be performed at least once every quarter at a minimum and when the market changes due to a crisis like COVID-19, it should be done every week.
RitaKeller
MAY 24, 2021
“Getting information off the Internet is like taking a drink from a fire hydrant.” – Mitch Kapor. Today I have a message (and reminder) from my friend Charles Hylan: Welcome to the other side of the tax deadline! The 2021 Rosenberg Survey is well underway and so far, we’ve received a great response. Our world has certainly changed and the need to proactively lead your accounting firm cannot be any higher!
Withum
MAY 27, 2021
Phil Mickelson became the oldest person to win a major golf tournament. He was 1 month short of his 51st birthday and is considered “old.”.
Speaker: Mark Gilham, FCCA, CPP
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
5 Minute Bookkeeping
MAY 27, 2021
What should you do if you are working on a massive QuickBooks Online cleanup and you come across a mysterious balance in an account called Opening Balance Equity on the balance sheet? You probably won’t recall ever adding that account to QuickBooks Online, or categorizing any transactions to/from it. So what is it, and why is it showing up on your balance sheet?
LyfeAccounting
MAY 27, 2021
Picture this…. It’s the end of the week and it’s a beautiful day outside. You go to check the mail as usual. Junk. Bill. Junk. Then boom. You see you’ve gotten mail from the Department of the Treasury… aka the INTERNAL REVENUE SERVICE. Your seemingly great day just got turned upside down because now Uncle Sam is knocking at your door. You’re not alone.
RitaKeller
MAY 25, 2021
“Ideas are useless unless used. The proof of their value is in their implementation. Until then, they are in limbo.” – Theodore Levitt. To be able to run an efficient and profitable accounting firm you need to do more than talk about the changes you need to make. Talking about change is an active exercise inside firms. Actually, implementing and executing the steps necessary for change is another topic altogether.
Advertiser: Paycor
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
xendoo
MAY 27, 2021
Is getting people to pay their invoice balance a challenging part of running your own business? You are not alone. According to a report in Entrepreneur , on average, small businesses had $84,000 in unpaid invoices. Waiting weeks and sometimes months for the checks to arrive and managing cash flow in the meantime can be daunting, to say the least. Since invoicing isn’t the most exciting aspect of your business, we want to share these tips for small business invoicing to help you get paid faster,
LyfeAccounting
MAY 27, 2021
You want to build your business credit and want to know the most effective and fastest way to do so. Perfect. You are in the right place. Business credit is extremely underrated and overlooked by most businesses even though it is a key ingredient to business success. So in this post, we will be going over what business credit is, and everything you need to know about it.
ThomsonReuters
MAY 27, 2021
IRS Webpage: Operational Compliance List (Apr. 27, 2021). Available at [link]. The IRS has updated its Operational Compliance (OC) list highlighting changes in tax-qualification requirements and related guidance affecting the operation of retirement plans. The IRS provides the OC list to help individually designed plans maintain operational compliance by identifying changes in requirements generally effective during a calendar year.
Speaker: Cheryl J. Muldrew-McMurtry
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
xendoo
MAY 26, 2021
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. . As a restaurant owner, you have a lot of expenses on your plate every month that a partner like Xendoo can help you manage, such as providing tax tips for restaurants. Like rent and insurance, many of those are fixed and are beyond your control except when it’s time to renegotiate those agreements.
FraudFiles
MAY 25, 2021
Tracy Coenen explains exactly what a Ponzi scheme is: an investment scheme in which the promoter takes money from “investors” and promises to invest it. There is little to no real investment, and when it comes time to pay “returns” those investors, the promoter needs money from NEW “investors” to pay them. The promoter is generally stealing from the investors and constantly needs new money to keep the scam going.
ThomsonReuters
MAY 27, 2021
QUESTION: We have heard that there are revised requirements for agreements with plan service providers. As an employer that sponsors an ERISA group health plan, what should we know about the changes? ANSWER: ERISA’s prohibited transaction exemption for plan service arrangements has been amended to add extensive disclosure requirements that apply to certain types of arrangements beginning in December 2021.
Speaker: Frank Taliano
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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