Sat.Jan 30, 2021 - Fri.Feb 05, 2021

article thumbnail

Using HR Data to Advise Clients

PANALITIX

RESOURCES / ARTICLES. Using HR Data. to Advise Clients. Accountants are increasingly analyzing clients’ Human Resource (HR) data to provide valuable advice. This is not surprising… given the critical role of employees in any business and management’s desire to improve productivity, motivation and performance. Which HR data can be useful? How can the data form the basis of advice?

article thumbnail

New Fraud to Watch Out For in 2021

RogerRossmeisl

Whew, you made it through 2020! But don’t rest easy yet as there’s new fraud to watch out for in 2021. The fraud perpetrators enjoyed a profitable year in 2020, and there are signs they may continue to feed off Americans as long as the pandemic is active. Here are several new scams. PPP fraud Struggling small-business owners have welcomed last month’s 11th hour extension of the Paycheck Protection Program (PPP).

cpa 246
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Startup Tax Preparation Resources for 2021

BurklandAssociates

A new tax season is underway, and Burkland’s startup tax accountants are working with our clients to prepare. In this article, we share a roundup of helpful 2021 tax preparation Read More. The post Startup Tax Preparation Resources for 2021 appeared first on Burkland.

article thumbnail

Why Are Businesses Dissatisfied With the Way They Manage Sales Tax?

TaxConnex

At the end of last year, TaxConnex commissioned Porter Research Group to conduct a survey of 100 finance leaders to understand the growing concerns they face related to sales tax heading into 2021. One question respondents were asked was if they were satisfied with how they were currently managing sales tax, and almost three out of four respondents (71%) answered that they were in fact not completely satisfied with how sales tax was being managed within their business.

Sales 130
article thumbnail

Planning Your Restaurants Path to Profitability

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.

article thumbnail

Project Management: Scope

SMBAccountant

When your company has the opportunity for a new project, it can be very tempting to accept any offer that comes your way. However, it is important that the scope of the project is carefully reviewed and analyzed in conjunction with your accountant or accounting department to make sure that the objectives are in line with company goals and perform a risk assessment to ensure tolerable risk.

account 130
article thumbnail

4 Tips for Preparing a Fraud Case for Law Enforcement

RogerRossmeisl

If you’ve caught an employee stealing from your company, you may think that turning the person over to the police will result in prosecution. That’s not necessarily true. Law enforcement officials pursue and reject cases for many reasons. So if you’re determined to request prosecution of an occupational fraud perpetrator, take the following steps to help in preparing a fraud case. 1.

cpa 246

More Trending

article thumbnail

Telecom Tax and Other Specialty Transactions Taxes

TaxConnex

Sales tax is broadly defined to mean any tax that is charged to the end-user customer by the retailer of property or services. Though this definition is correct, it does not always provide a complete picture of a business’s transactions tax liabilities. Sales taxes are a transactions based tax, but they are not the only transactions based taxes. There are numerous specialty transactions taxes applied to specific products, services and industries.

tax 138
article thumbnail

Why The Data Breach Decline Is Bad News For Businesses

PYMNTS

The Interstate Technology & Regulatory Council (ITRC) released new data on the state of cyberattacks and data breaches with some surprising news: data breaches were actually down in 2020 year-over-year. But the findings aren't necessarily cause for optimism, warns ITRC President and CEO Eva Velasquez. “While it is encouraging to see the number of data breaches, as well as the number of people impacted by them, decline, people should understand that this problem is not going away,” she said i

Missouri 136
article thumbnail

Prevent and Detect Insider Cyberattacks

RogerRossmeisl

In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start his own mortgage business. The perpetrator hacked the protected records by sending an email containing malware to a coworker. This particular dishonest worker was caught. But your company may not be so lucky.

Gambling 191
article thumbnail

Interpreting Financial Insights In Your Business's Management Reports

GrowthForceBlog

5 min read. The hardest lesson for any business owner – if you don't know your numbers, then you don't know your business. But what does "knowing your numbers" really mean?

article thumbnail

How Automation is Driving Efficiency Through the Last Mile of Reporting

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

article thumbnail

How myths about the cloud are hurting your firm

ThomsonReuters

We’ve all heard the myths about cloud tax and accounting, including the intimidating theories that the cloud is not secure, expensive, complicated, or not up to compliance standards. Plus, as accountants, we tend to get comfortable with the on-premise, perhaps outdated software we’ve already implemented. However, the state of the tax and accounting industry is rapidly changing, and firms are having to shift their technology to keep from being left behind.

article thumbnail

Jessica Alba’s Honest Co. Files For IPO; Valuation Could Reach $2 Billion

PYMNTS

Baby and beauty products company The Honest Company , which was founded by actress Jessica Alba , is quietly preparing to conduct an initial public offering (IPO), Bloomberg reported, citing unnamed sources. The company could be valued at as much as $2 billion, and an IPO could come as soon as Friday (Feb. 5), Bloomberg reported. As of Sunday (Jan. 31), no filing had been made with the U.S.

Retail 108
article thumbnail

Business Mileage Rate Decreases in 2021

RogerRossmeisl

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021 than you could for 2020 or 2019. This is the second year in a row that the cents-per-mile business mileage rate decreases year-over-year.

cpa 133
article thumbnail

FAQs – Employee Retention Credit (ERTC)

KROST

The Employee Retention Credit (ERTC) was created as part of the CARES Act to encourage businesses to continue paying employees by providing a credit to the eligible employer for wages paid to eligible employees. The ERC could be a valuable alternative for those who did not qualify for PPP and other emergency loans. We have compiled a list of frequently asked questions below: Question: For ERTC eligibility, does the company need to calculate full time equivalents or just the total of all full tim

95
article thumbnail

No-Code Technology: The Key to Unlock the Future of Your Business

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.

article thumbnail

2022 Outlook for Potential FUTA Credit Reduction States

ThomsonReuters

The December 2020 numbers from the U.S. Bureau of Labor and Statistics (BLS) on national unemployment noted that 45 states and the District had jobless rate increases from one year earlier, no doubt due to the coronavirus (COVID-19) pandemic. States like California, Hawaii and Nevada registered unemployment rates at or above 9% in December 2020 and throughout the pandemic many other states suffered record-high unemployment rates rendering the state’s unemployment trust fund insolvent.

Hawaii 89
article thumbnail

Healthcare Rx: Flexible Payment Systems Drive Positive Patient Experience

PYMNTS

Although the U.S. healthcare system is lauded for providing the best, most advanced care in the world, when it comes to the payments practices being used with much of that industry, honorable mention might be a more fitting rank. This, despite the fact that consumers are not only accustomed to modern, seamless payments in almost every aspect of their lives, but studies show 1 in 4 patients say they’d switch to another provider or doctor that offered more payment options and a better patient expe

article thumbnail

Jethro Teaches Moses

Withum

On Saturday, synagogues all over the world will be reading The Ten Commandments from the Torah. That is in chapter 20 of Exodus. In that same portion, as a prelude we read chapters 18 and 19. This blog is not a Bible lesson but a lesson in managing and delegating, and I thought of it because for me, there was a timely reminder.

66
article thumbnail

[Webinar] Employee Retention Credits: Qualifications, Benefits & Refunds

KROST

Join Jason Melillo, CPA (Principal – Accounting, ERTC) and Jeff Kamin, CPA (Manager, Accounting, ERTC) as they host a webinar on Employee Retention Tax Credits (ERTC) on Wednesday, February 10th at 9:30AM PST. In this session, they will review the details of the recently passed Taxpayer Certainty and Disaster Tax Relief Act of 2020, including: • Qualifying companies – aggregation rules, full-time employee limitations. • Qualifying wages – healthcare costs. • Reporting requirements and refu

article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

article thumbnail

How Do We Report ICHRA Coverage on Forms 1094-C and 1095-C?

ThomsonReuters

QUESTION: We are an applicable large employer (ALE). For 2020, we offered coverage under our self-insured health plan to our salaried employees. We offered our hourly employees coverage under an individual coverage HRA (ICHRA). How do we report the ICHRA coverage on Forms 1094-C and 1095-C? ANSWER: Employers were able to offer ICHRA coverage to employees starting January 1, 2020 (see our Checkpoint article ).

tax 64
article thumbnail

VisaNet +AI Adds Predictive Element To Processing And Settlements

PYMNTS

Within financial services, artificial intelligence (AI) is typically deployed in various efforts to identify and stop fraud. But advanced technologies can also be leveraged to help financial institutions (FIs) operate more efficiently, improving the end-to-end payments experience for their consumers. It’s that holistic approach that has driven Visa ’s expanded AI initiative announced Tuesday (Feb. 2).

article thumbnail

Free Checklists

Withum

Each year I assemble a file with my most helpful and useful checklists, and I make it available for free to colleagues. This year I am offering it in my blog.

75
article thumbnail

3 Steps To Fix The Pricing Problems In Your Service Business

GrowthForceBlog

5 min read. One of the biggest decisions a business owner will make is pricing– how do you know that you are pricing your services properly? Every business owner would agree, having an effective pricing strategy is a challenging aspect of running a successful business. You need prices that generate strong profit margins while keeping you competitive in the marketplace.

article thumbnail

Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

article thumbnail

[02/04/21] Back To The Future: FASB To Reverse Goodwill Accounting

Baruch Lev

By Feng Gu and Baruch Lev. In April 2020, Tapestry, Inc. ( TPR ) (luxury goods) announced a goodwill write-off of $211 million related to its line of Stuart Weitzman (shoes). Investors’ reaction was swift and harsh, Tapestry’s stock price decreased by 12.7% on the announcement day. There was other news in Tapestry’s announcement that likely affected shareholders’ reaction, but the goodwill write-off was definitely a contributing factor.

account 52
article thumbnail

GM’s Electric Vehicle Makeover Reverberates Far Beyond Detroit

PYMNTS

Beneath a banner proclaiming “Zero Crashes, Zero Emissions, Zero Congestion,” General Motors’ CEO Mary Barra announced her company’s plan to produce 100 percent electric vehicles by 2035, the most sweeping overhaul of any major global automaker in the history of the industry. While the wisdom and strategy can be debated, there is no arguing the fact that GM’s decision to wean itself — and the world — off of fossil fuels will have tectonic effects that will be felt far beyond Detroit, and will ta

Arizona 102
article thumbnail

What to Know About the Canadian GST/HST

Withum

133
133
article thumbnail

PPP Forgiveness Application: 2021 Updates and FAQ

LyfeAccounting

?. Over the course of 2020, the rules related to PPP forgiveness application have changed. Some revisions have made the process easier for businesses with smaller loan amounts. The latest stimulus relief bill passed in December of 2020 had two provisions that could help people with smaller loan amounts. So in this post, we’re going to cover those two important changes and then dive into some frequently asked questions from the SBA.

payroll 52
article thumbnail

Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

article thumbnail

DOL Announces Fiscal Year 2020 Enforcement Statistics, Reflecting Record-Setting Recovery Amount

ThomsonReuters

DOL Fact Sheet: EBSA Restores Over $3.1 Billion to Employee Benefit Plans, Participants and Beneficiaries. Available at [link]. The DOL has issued its fiscal year (FY) 2020 enforcement fact sheet, highlighting the recovery of over $3.1 billion in direct payments to plans, participants, and beneficiaries. The fact sheet explains that the DOL’s Employee Benefits Security Administration (EBSA) has oversight responsibility over nearly 722,000 retirement plans, 2.5 million health plans, and a simila

audit 52
article thumbnail

Italian Banking Association Embraces Need For Speed For Future Of Real-Time Payments

PYMNTS

To get a sense of the present state — and future — of instant payments, look to Italy. It has pulled ahead of its EU neighbors in developing real-time payments technology and in recruiting banks to adopt it. It’s a trend that has been encouraged by the Italian Banking Association, whose official role is to “represent, safeguard and promote the common and legitimate interests of its members, undertaking initiatives for the orderly, stable and efficient growth of the banking and financial sector i

account 100
article thumbnail

Expert Testimony That Non-Accountants Can Understand

FraudFiles

Testifying is the pinnacle of an expert witness’s work in a case. It may well be the most important part of the expert’s work, as the assistance of a competent financial expert is the key to cases involving economic damages and other financial calculations. An expert must do much more than just analyze facts and calculate figures. Traditional accounting and finance skills are not enough when it comes to litigation matters.

article thumbnail

How to Know if Your Website Legally Compliant?

SchoolofBookkeeping

It is essential for business owners to know the legal requirements for your website. Because your website is a channel to communicate with the general public, there are many legal requirements. It is important to know if your website is legally compliant and ensure you maintain compliance to avoid potential legal action against your company. The post How to Know if Your Website Legally Compliant?

Legal 52
article thumbnail

How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.