TaxConnex
JULY 8, 2021
Many states use sales tax holidays to waive or reduce sales tax on various items. These holidays can be annual or even two or more times a year. Online purchases usually receive the same tax treatment during these holidays as in-person purchases; remote sellers aren’t permitted to charge tax on qualifying goods during sales tax holidays, but how do you know where this is happening and when or when not to charge sales tax?
PANALITIX
JULY 7, 2021
RESOURCES / ARTICLES. Delighting Clients. through Better Processes. Does your entire team care deeply about the wellbeing of all your clients, all the time? Are they always curious about clients, proactively looking for ways to help? If you can confidently answer ‘yes’ to these questions, you are in very fortunate (and rare) position. You probably have very high levels of client satisfaction, retention, up-selling and referrals.
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BurklandAssociates
JULY 6, 2021
Story name: Cities where small businesses have been impacted most by COVID-19 Story link: [link] Written by: Ellen Wulfhorst Ylenia Cancelli // Shutterstock Cities where small businesses have been impacted Read More. The post Cities Where Small Businesses Have Been Impacted Most by COVID-19 appeared first on Burkland.
ThomsonReuters
JULY 8, 2021
QUESTION: I understand that to be eligible for the ARPA COBRA premium subsidy, an employee must have lost group health plan coverage due to an involuntary termination of employment or a reduction of hours. For this purpose, when is a termination of employment considered involuntary? ANSWER: The 100% COBRA premium subsidy created by the American Rescue Plan Act of 2021 (ARPA) (see our Checkpoint article ) is available when certain employees (and their families) lose health coverage due to the
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TaxConnex
JULY 6, 2021
Missouri has officially become the last state with a state-wide sales tax to enact economic nexus. T he Show Me State follows on the heels of Florida , where economic nexus kicked in as of July 1 for remote sellers and marketplace facilitators. Missouri Gov. Mike Parson has signed SB153 (combined with SB97) into law, allowing Missouri and local jurisdictions to collect use tax and, proponents say, help protect local brick-and-mortar businesses.?.
MazumaBusinessAccounting
JULY 7, 2021
Financial planning is essential for anyone who wants to achieve financial independence. The goal of financial planning is to help you reach your financial goals, whether that be retiring by a certain age or having the money to open a new business. For small business owners, financial planning is especially important because you need to ensure you’re planning for your business as well as yourself.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
JULY 8, 2021
Multinational enterprises (MNEs) began using centralized shared services centers three decades ago to standardize and improve efficiency in back-office functions such as finance & accounting, human resources, and IT. Today, finance is the corporate function most commonly managed this way — but longstanding obstacles have prevented the model from being extended to statutory reporting and tax compliance.
Withum
JULY 6, 2021
July 1st was the 33rd anniversary of my partnership with Peter Weitsen. We became partners in MendlowitzWeitsen, LLP on July 1, 1988 and merged into Withum on January 1, 2005. We were partners 16 ½ years before Withum and then 16 ½ years at Withum. A 33 year partnership and still counting. It has been a joy.
AccountingDepartment
JULY 9, 2021
Company culture is something that is claimed by many, but at the end of the day, how many companies actually have a solid and healthy company culture? The culture of a company is what separates a good and great company. Truly happy employees are what keep a company going and it certainly shows in some situations.
GrowthForceBlog
JULY 9, 2021
6 min read. If you‘re getting accurate and reliable financial reports , you’re off to a great start! The question is, do you know what to do with the information?
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.
ThomsonReuters
JULY 8, 2021
Interim Final Rule With Comment Period: Requirements Related to Surprise Billing; Part I, 5 CFR Part 890, 26 CFR Part 54, 29 CFR Part 2590, 45 CFR Parts 144, 147, 149, and 156, 86 Fed Reg __ (July 13, 2021); DOL Model Notice: Your Rights and Protections Against Surprise Billing; CMS Fact Sheet: Requirements Related to Surprise Billing: Part I Interim Final Rule With Comment Period (July 1, 2021).
inDinero Accounting
JULY 8, 2021
It’s time to grow, hire employees, rent a larger space, or purchase a company car. You may have started your business with friends and family funds, but now, it’s time to take out a loan with good terms. Any business loan or line of credit from a bank—brick-and-mortar or online—will carry more favorable terms if you have a decent business credit scor e.
AccountingDepartment
JULY 6, 2021
Working from home is one of the best things that can happen to some until they get to experience some of the more difficult aspects of the work-from-home lifestyle. Over the last year and a half, more people than ever are working from home and companies have had to make this adjustment, whether they wanted to or not. Nowadays, many companies made the switch to staying remote and employees are having to adjust on their own to this new style of work.
RitaKeller
JULY 7, 2021
“You give loyalty, you’ll get it back. You give love, you’ll get it back.” – Tommy Lasorda. Now, more than ever, it is so important to engage your team members. As you all know, finding, hiring, and retaining people has become even more of a concern for public accounting firms. Some firms are holding their partners accountable for engaging and retaining valued team members.
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
ThomsonReuters
JULY 7, 2021
Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. However, it was the 16 th Amendment to the U.S. Constitution in 1913 that permanently legalized a federal income tax. Then, in 1935, the Social Security Act was signed into law, which resulted in a tax on both the employer and employee (6.2% each).
Ronika Khanna CPA,CA
JULY 9, 2021
The past few years, and especially the last year has changed the way many business owners and employees work. There has been a mass adoption of virtual workspaces where people are no longer tethered to their offices. Instead the technology to make working from anywhere has increased and improved significantly and is accessible by anyone who has a working internet connection.
LyfeAccounting
JULY 9, 2021
Foreign earned income exclusions, so it’s time that we write a post talking specifically to the people who are U.S. citizens but have decided to take a job in a foreign country. Because let’s face it, when you decide to take a job opportunity in another country, that job usually pays you a lot of money to do it. And of course, the more money you make, the more you are usually taxed, right?
RitaKeller
JULY 4, 2021
“You have to love a nation that celebrates its independence every July 4, not with a parade of guns, tanks, and soldiers who file by the White House in a show of strength and muscle, but with family picnics where kids throw Frisbees, the potato salad gets iffy, and the flies die from happiness. You may think you have overeaten, but it is patriotism.” – Erma Bombeck.
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ThomsonReuters
JULY 9, 2021
Nearly half of the corporate tax departments participating in a new survey say they are under-resourced — and the problem is more pronounced among companies in North America than in Europe. In the US, 56% of respondents said they have strained resources, compared with 46% in Canada, 37% in mainland Europe, and 25% in the UK, according to the 2021 State of the Corporate Tax Department report from Thomson Reuters.
SkagitCountyTaxServices
JULY 8, 2021
With our nation celebrating its 245th birthday on Sunday, and all of this talk about “independence” flying around, I have a question for you — one that I think you should think hard about: Are you achieving the independence you wanted in your business? As you know, it’s hard — and it’s LONELY — to be a Skagit County business owner in this environment.
LyfeAccounting
JULY 8, 2021
How to start a business without money? Let us start out by being completely real with you. Building a new business is hard and building a business without money is even harder. But it’s definitely possible. In fact, when we started our first business, the only money one of our founders had was a $250 deposit into a business checking account. And to be honest, he said he never even planned to use that money.
Generate Accounting
JULY 6, 2021
When you purchase a business, thought needs to be given to how you will value assets like stock, property and financial arrangements. Inland Revenue has brought in Purchase Price Allocation Rules to standardise the process. The rules apply from 1 July 2021 and will ensure that both the purchaser and the vendor account for valuations on the same basis.
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ThomsonReuters
JULY 8, 2021
Rapid regulatory change, evolving customer needs, and tight competition for talent is forcing tax and accounting firms to rethink their technology and software tools. . Is your tax and accounting firm keeping up with the rapid pace of change or falling behind? . 90% of accountants now feel there is a cultural shift in accountancy leaning toward technological adoption. .
CapataCPA
JULY 6, 2021
Proposed Tax Relief Bills for California California’s Governor is expected to sign several tax-related and stimulus bills that the California General Assembly sent to him. SB 139 will authorize a second Golden State Stimulus payment up to $1,100 per California taxpayer with an AGI of $75,000 or less. How much qualifying taxpayers will receive is dependent on.
LyfeAccounting
JULY 7, 2021
So unless you’re living under a rock, you probably know that the housing market is booming! According to CNBC, the rate at which homes are selling hasn’t been seen since 2005. And according to the Wall Street Journal, housing prices are at all-time highs! This is obviously great news for homeowners, and not so great for people who are looking to buy a home.
Generate Accounting
JULY 6, 2021
When you purchase a business, thought needs to be given to how you will value assets like stock, property and financial arrangements. Inland Revenue has brought in Purchase Price Allocation Rules to standardise the process. The rules apply from 1 July 2021 and will ensure that both the purchaser and the vendor account for valuations on the same basis.
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ThomsonReuters
JULY 8, 2021
Although your firm’s tax compliance practice is healthy and well-established, you may have a desire to grow into a new, larger role for your clients. Taking on the role of trusted advisor to your clients and offering advisory services is the way of the future. . This is not some underwear gnome’s profit plan – this is based on facts. Industry experts predict that 78% of finance processes can be automated, leading to reduced revenue.
FraudFiles
JULY 6, 2021
It might be hard to believe, but each and every day companies are losing money because they not only give employees opportunities to steal, they encourage it. How? By not providing adequate oversight. A clerk, for example, sees that an error in an account wasn’t caught by anyone. A purchasing manager notices that no one is watching over his vendor relationships, and won’t know it if he establishes a fake account.
LyfeAccounting
JULY 5, 2021
What’s the first thing that comes to mind when you hear ‘Net Worth’? We know most people probably first think of celebrities or really wealthy people. Perhaps you’ve Googled other people’s net worth. But, have you ever been curious about your own? You definitely should be. When you track your net worth over time, you are forced to face where you are financially.
GrowthForceBlog
JULY 8, 2021
5 min read. Do You Have ‘Staff’ or a ‘Team’?
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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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