BurklandAssociates
NOVEMBER 9, 2021
I’ve spoken with hundreds of founders at Consumer startups over the years, and from a Finance and Accounting perspective, the same four pain points come up over and over again. Read More. The post The Top Four Finance Pain Points for Consumer Startups appeared first on Burkland.
TaxConnex
NOVEMBER 9, 2021
You might think that collecting the tax and filing a tax form is all you need to be sales tax compliant. You wouldn’t be completely wrong – filling out the form is a huge start – but other steps are needed to fully manage your compliance. 1. Knowing When and How to Remit Payments. Ideally, all your sales tax calculations are managed in one system to produce a single report each month with details of all your sales and use tax liabilities.
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RogerRossmeisl
NOVEMBER 12, 2021
If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider a cost segregation study. It might allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. And under current law, the potential benefits of a cost segregation study are now even greater than they were a few years ago due to enhancements to certain depreciation-related tax breaks.
ThomsonReuters
NOVEMBER 11, 2021
Rev. Proc. 2021-45 (Nov. 10, 2021); IRS News Release IR-2021-219 (Nov. 10, 2021). Rev. Proc. 2021-45. News Release. The IRS has released the 2022 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including limits relating to health FSAs, qualified transportation fringe benefits, qualified small employer health reimbursement arrangements (QSEHRAs), adoption assistance, DCAPs, the small business health care tax credit, the premium tax credit, and Archer MSAs.
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xendoo
NOVEMBER 9, 2021
With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . Get prepared for tax season with these small business tax deductions that may apply to your business. . Tax Dates. When filing taxes, knowing the deadlines is an essential part of being organized and prepared.
Withum
NOVEMBER 10, 2021
Benjamin Franklin is arguably one of the smartest, innovative and most accomplished people of all time. I could go on and on about all that he did, but that would have nothing to do about what I want to point out here.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
NOVEMBER 11, 2021
QUESTION: Each year, when our 401(k) plan makes required minimum distributions, we discover that the addresses on file for some distributees are no longer valid. We sometimes have similar problems locating beneficiaries when a participant dies. What procedures should we follow when our plan must make distributions to individuals we cannot locate? And what can we do to minimize this problem?
AccountingDepartment
NOVEMBER 11, 2021
Key Performance Indicators (KPIs) are a pertinent part of measuring the successes and failures of a business. Measuring, tracking, and benchmarking KPIs allow business owners and leaders to keep a finger on the pulse of how their business – or individual departments – is performing at any given time.
FraudFiles
NOVEMBER 12, 2021
Financial statement fraud impacts any person or organization that has a financial interest in the success or failure of a company. A manipulation of the company’s reported earnings or assets can affect a bank that extends credit to the company, a shareholder who invests money in the company, and those organizations that enter into contracts or agreements with the company.
LSLCPAs
NOVEMBER 11, 2021
So much has happened in the past twenty months that some business owners wonder if they should stay in their businesses or sell that arguably largest asset. We asked LSL long-time friend Dora Lanza, a veteran mergers and acquisitions expert, for her thoughts. She is the co-founder and COO at 22-year-old Plethora Businesses. Here’s what. The post 10 Things to Consider When Selling Your Business appeared first on LSL CPAs.
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
NOVEMBER 12, 2021
Corporate international tax planning is a major challenge for companies that do business in multiple countries. To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically. Such planning is also crucial for staying compliant with tax laws in each country in which they operate, laws and regulations that are complex, vary widely among each country’s jurisdiction, and are often changing.
AccountingDepartment
NOVEMBER 9, 2021
With 2021 soon coming to a close, confidence among CEOs of small to medium-sized businesses remains strong and Vistage outlined some of the things to expect from companies going into 2022.
SkagitCountyTaxServices
NOVEMBER 10, 2021
The shape of your business affects your future and when I’m talking about the “shape,” I of course am referring to your Skagit County business entity type. Did you know that you CAN change that after the fact? Depending on which entity you are switching to, the process can be painful … but you are NOT “locked-in” to a particular entity for the entire life of your business.
KROST
NOVEMBER 9, 2021
Do you have a plan prepared for your family and beneficiaries? Does your chosen successor trustee, executor, or beneficiary(ies) know how to access all of your financial, medical, insurance, and social media information when the time comes? Even with a comprehensive will and trust, you’d be surprised how complicated it can be to manage. To mitigate emotional, tax, and administrative burdens, we’ve created a Will & Trust Asset Legacy Planner.
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
NOVEMBER 11, 2021
Multinational corporations often use transfer pricing to allocate earnings among subsidiary and affiliate companies that are part of the parent organization. The practice is being increasingly regulated to ensure that profits are taxed at the place where value is created. In fact, a global effort is underway to tighten the restrictions and increase the documentation requirements for this practice, adding a significant amount of work and responsibility to the task of the corporate tax professiona
FraudFiles
NOVEMBER 9, 2021
One of the chief concerns in a divorce or child custody case is identifying the true income of one or both of the parties. It is not unusual for such a case to include allegations of hidden income or assets. It is common for a closely held business to suspiciously encounter declining sales and profits following the filing of a family law case. In each of these instances, properly determining the income of the party is critical to getting a fair and equitable settlement, maintenance award, or chi
KROST
NOVEMBER 8, 2021
The Infrastructure Bill (H.R. 3684) was passed by the House on November 5, 2021 and is expected to be signed into law by President Biden. As part of the Bill, the employee retention tax credit (with the exception of the recovery startup business credit) is no longer in effect for the fourth quarter of 2021. A few key items to consider: Many taxpayers have likely already claimed credits for the fourth quarter of 2021 based on eligibility established from the third quarter either via the advance
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ThomsonReuters
NOVEMBER 11, 2021
IRS Notice 2021-61 (Nov. 4, 2021); IRS News Release IR-2021-216 (Nov. 4, 2021). IRS Notice. IRS News Release. The IRS has announced the 2022 dollar limits and thresholds for retirement plans, which reflect the latest cost-of-living adjustments. (Dollar limits and thresholds primarily affecting health and welfare plans were announced in separate guidance; see our Checkpoint article.
RitaKeller
NOVEMBER 12, 2021
“I’m not comfortable unless I’m uncomfortable.”—Jay Chiat. This week I am featuring a blog post from way back in 2015. The title is, “Monday Morning Thoughts Worth Sharing” but they certainly apply to a Friday. In 2015 I said, “The business world is fast-moving, demanding, and constantly changing.” It certainly still applies today, probably more so.
RogerRossmeisl
NOVEMBER 12, 2021
Corporate espionage has long been a threat for U.S. companies. Recently, intellectual property theft by foreign governments and organized crime gangs has grabbed headlines — for good reason. According to the U.S. Justice Department, 80% of its economic espionage prosecutions target schemes that would benefit China. Yet for most businesses, the threat comes from employees and former employees who take advantage of lax environments with few internal controls.
KROST
NOVEMBER 8, 2021
The Infrastructure Bill (H.R. 3684) was passed by the Senate on November 5, 2021 and is expected to be signed into law by President Biden. As part of the Bill, the employee retention credit (with the exception of the recovery startup business credit) is terminated retroactively beginning October 1, 2021. A few key items to consider: Many taxpayers have likely already claimed credits for the fourth quarter of 2021 based on eligibility established from the third quarter either via the advance cre
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ThomsonReuters
NOVEMBER 11, 2021
Marietta Memorial Hosp. v. DaVita, Inc., cert. granted, No. 20-1641 (U.S. Nov. 5, 2021). Available at [link]. The U.S. Supreme Court has agreed to settle a dispute between two appellate courts regarding the Medicare Secondary Payer (MSP) rules and health plan coverage of dialysis. In the underlying case, a large dialysis provider sued an employer/plan administrator and its TPA, challenging the plan’s classification of all dialysis providers as “out-of-network,” resulting in a lower reimbursemen
RitaKeller
NOVEMBER 11, 2021
“Beware the barrenness of a busy life.” – Socrates. I have covered the topic of being too busy many times over the years in writing this blog. Why? Because it is the term I continue to hear over and over again from partners, firm administrators, and others working inside a growing CPA firm. It seems you are always too busy to actually think, plan, reflect and even enjoy a beautiful Fall day.
Accounting for Good
NOVEMBER 10, 2021
The post Accounting For Good farewells Castlereagh Street first appeared on ACCOUNTING FOR GOOD.
Baruch Lev
NOVEMBER 11, 2021
Click or tap here to listen to the show! Ron and Ed welcome back Professor Baruch Lev from NYU Stern Business School. He was last on back in July 2016 and we discussed his book, The End of Accounting and the Path Forward for Investors and Managers. We talk more about that book and his more recent article in Accounting Today, The sad state of accounting standards.
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GBQ
NOVEMBER 10, 2021
As a U.S. Army veteran, selfless service in the pursuit of the greater good is A-Jay Orr’s binary code. And it’s the values he learned at age 17 that prompted this entrepreneur and author to future-proof businesses through innovative cybersecurity solutions. This is reflected in his creation of Simple Plan IT , whose mission is to take the confusion out of IT and prove to business leaders that investing in new technology can be practical, effective, and stress-free.
RitaKeller
NOVEMBER 10, 2021
“If you can’t explain it simply, you don’t understand it well enough.” ~Albert Einstein. If you have been working in public accounting for even a short time I bet you are using accounting jargon. We all know what, “Are we doing their 1120-S?” means. Cash or accrual are common terms. Actually, many phrases we use can be considered accounting jargon.
KROST
NOVEMBER 9, 2021
Pasadena, CA. – KROST CPAs and Consultants, a tax, accounting, and consulting firm based out of Los Angeles, has launched KROST Business Intelligence (KBI), offering dynamic insights into realization, staff utilization, project turnaround, and more. The cloud-based tool provides a visualization dashboard that connects data from various software platforms into one location.
CTP
NOVEMBER 9, 2021
As a tax advisor, you will need to employ different strategies when you are representing a buyer vs. seller in the sale of a company. Buyers and sellers tend to have diametrically opposed preferences, since what is advantageous for one is often disadvantageous for the other from a tax perspective. In this article, we’ll zero […]. The post Tax Planning for Business Deals: What to Consider When Representing the Buyer appeared first on certifiedtaxcoach.
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