BurklandAssociates
MARCH 3, 2022
Burkland’s Tax Services lead, Ardy Esmaeili, CPA contributed an article to TechCrunch this week, What US Startup Founders Need to Know About the R&D Tax Credit. Our tax team has Read More. The post Our New TechCrunch Article on R&D Tax Credit Resources for Startups appeared first on Burkland.
xendoo
MARCH 4, 2022
Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? Ecommerce business owners have some degree of flexibility that physical storefronts cannot afford. Apart from avoiding rent, an ecommerce model makes it easy to fulfill orders from the comfort of your home or warehouse.
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RogerRossmeisl
FEBRUARY 28, 2022
Back in 2017, the Tax Cuts and Jobs Act was signed into law which instituted a cap on the amount of state and local taxes (SALT) that individuals could report as Itemized Deductions on Schedule A. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000. Previously, there was no limit. Since then, roughly 20 states have come up with workarounds intended to negate, or at least mitigate the effect of the SALT limitation.
TaxConnex
MARCH 1, 2022
It’s that time of year again when everyone suddenly thinks about preparing their income taxes. But does tax preparation incur sales taxes – and if it does, where and how? Tax preparers are generally accredited individuals – certified public accountant (CPA) and enrolled agent (EA) are two common preparer designations – who have completed previous and ongoing education to understand compliance for varied tax purposes.
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Acterys
MARCH 4, 2022
Acterys 22.1 marks the biggest update yet in our 4 years journey of developing our platform to be the most comprehensive integrated planning and analytics solution. After seeing the tremendous response for our last version 21.2 update , we are set on the path to take Acterys to the next level and provide unmatched value to our customers. And here we are with Acterys 22.1 with several new features and functionality enhancements that doubles its ease-of-use, extensibility, and automation capabilit
Withum
FEBRUARY 28, 2022
Welcome to the future! Cryptocurrency continues to gain popularity (see our previous article here ), the Metaverse is constantly expanding, and NFTs (Non-Fungible Tokens) are trending. Blockchain technology is on track to become the most impactful innovation since the internet (and for charities specifically, since the “donate now” button) and has been a catalyst in creating recent generational wealth.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
MARCH 3, 2022
Understanding the taxability of your company’s products or services is one of the key steps to complying with sales and use tax laws. In many situations, your “products” can be easy to classify: They’re usually tangible (in fact, a key sales tax definition is “tangible personal property”) and you charge sales tax on property unless it falls into an exemption category.
ThomsonReuters
MARCH 3, 2022
QUESTION: Several of our employees were hospitalized over the past year with COVID-19 and incurred large medical expenses, which our self-insured health plan was obligated to cover. We later discovered that these employees were not vaccinated against COVID-19. Given the financial impact of COVID-19 on our health plan, can we require employees going forward to show proof of COVID-19 vaccination as a condition of eligibility?
Withum
MARCH 1, 2022
Withum is proud to share that New Jersey Business Publication, ROI-NJ, named CEO and Managing Partner Bill Hagaman , as a top influencer in the state’s business world. “Not only has he made Withum a national player during his tenure, he’s been an example of giving back to the business and nonprofit communities…” ROI-NJ. The annual list recognizes successful leaders within their fields and within the greater community.
CTP
MARCH 2, 2022
Success in your business should be a reason to celebrate and take pride in your accomplishments. Yet as a savvy business owner, you also need to consider what this success will mean for the next generation. Without careful planning, your beneficiaries could find themselves with a hefty tax bill. A tax expert can help you a) minimize estate taxes and b) generate sufficient liquidity to satisfy estate expenses.
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.
inDinero Tax Tips
FEBRUARY 28, 2022
Credit: Kelly Sikkema. Classifying employees correctly is important to optimizing your tax position while staying on the correct side of the law. Misclassifying employees could cost your company thousands in fines and unexpected back taxes. This article reviews why you might want to classify employees in certain ways and how to know if you can. How Classifying Employees As Independent Contractors Benefits Your Business.
ThomsonReuters
MARCH 3, 2022
HHS: Update to the Women’s Preventive Services Guidelines, 87 Fed. Reg. 1763 (Jan. 12, 2022). Available at [link]. The HHS Health Resources and Services Administration (HRSA) has issued updated preventive services guidelines for women, which it approved on December 30, 2021. As a reminder, non-grandfathered group health plans and insurers must cover without cost-sharing certain preventive services specified by HRSA, the United State Preventive Services Task Force (USPSTF), and the CDC (see our
5 Minute Bookkeeping
MARCH 3, 2022
Breaking up with bookkeeping clients is hard to do, as the song goes. Since I’ve worked with hundreds of clients, I’ve certainly ‘fired’ or parted ways with my share of bookkeeping clients, but it’s not all bad news. Every breakup is a valuable lesson. Today I want to share the biggest lessons I’ve learned from firing bookkeeping clients.
GrowthForceBlog
MARCH 3, 2022
6 min read. The importance of high-performing executive teams cannot be denied. Whether or not your leadership team can perform well will have an effect on just about every aspect of your business.
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
Going Concern
MARCH 3, 2022
[Updated with additional statement from Deloitte Global.]. When Deloitte’s global HQ posted a statement on its website on March 1 (see below in original post from Tuesday), the firm said it had “suspended business operations and client service in Ukraine as we focus on taking care of our people and their loved ones.” But on Wednesday, Deloitte Global updated its statement to say it “is currently reviewing our business and presence in Russia,” making it the first Big 4 firm to say publicly that i
ThomsonReuters
FEBRUARY 28, 2022
Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. What is the IRS Form 941? On January 1, 1950, a new plan took effect to collect taxes due under the Federal Insurance Contributions Act (FICA) and under the federal income tax withholding provisions of the Internal Revenue Code (IRC).
SkagitCountyTaxServices
MARCH 2, 2022
With the events of the past week and whispers of world war, it’s pretty easy to get caught up in the non-stop fear cycle. Watching a full-scale invasion of Ukraine, anxiously waiting to see if China will invade Taiwan, hearing Turkey issue threats to Russia if they invade the Black Sea… well, it’s more than enough to get everyone on edge. So, if I can be so bold here, I want to encourage you at all costs to keep your mind clear of all of this.
CPA Practice
MARCH 2, 2022
Historic backlogs at the IRS have led clients to contact accounting firms in a panic, wanting to know where a refund is or why an unexpected tax notice has arrived.
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Going Concern
MARCH 3, 2022
Today’s Grant Thornton roasting comes not from the PCAOB (like usual) but from r/accounting , also known as the magic genie from whence a wealth of content is born. We didn’t have time to create a fake resume, apply to one of the many, many open positions at GT, and hope we get the same recruiter to verify its legitimacy, but if any firm is going to talk like this, GT would be it.
Withum
FEBRUARY 28, 2022
The heightened level of globalization, product complexity and increased demands of customers are some of the top factors affecting the supply chain industry today. These have led to the adoption of transformative technology, which has tremendously reshaped the supply chain industry from the renowned pure operation hub into the epicenter of modern business innovation.
Simple Accounts
MARCH 2, 2022
. Aren’t you aware of the deadline to submit your work? You know when and how to fulfill your tasks. However, you may overlook the need to set aside time for taxes. We agree that working with all the numbers on the sheet is tedious, but it is necessary. Calculating taxes is a time-consuming process. Let us simplify the tax filing process for you by breaking it down into a few simple steps.
ThomsonReuters
MARCH 3, 2022
Required Minimum Distributions, 26 CFR Parts 1 and 54, 87 Fed. Reg. 10504 (Feb. 24, 2022). Available at [link]. The IRS has proposed a restatement of most of the regulations under Code § 401(a)(9) that govern required minimum distributions (RMDs) from qualified plans (including 401(k) plans), IRAs, Roth IRAs, 403(b) plans, and eligible deferred compensation plans under Code § 457(d).
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Going Concern
MARCH 4, 2022
When did you decide you were done with public accounting? Not the moment you decided to accept an offer to go work somewhere else, but the moment you decided there wasn’t a snowball’s chance in hell you would stay—the moment that cemented the decision to start looking for the right opportunity to get the hell out and never look back? My moment of full clarity came at the tail end of a PCAOB inspection.
Withum
MARCH 4, 2022
With the ongoing initiative of building Withum’s Women in Financial Services group, we will continue to spotlight our women clients, friends and founders on their personal and professional experiences and successes. This month, we are spotlighting Camila Potenza from Mindset ventures on comfort zones and measuring success. Q: As a working mom and founder, describe your worst working day.
FraudFiles
MARCH 3, 2022
A competent expert witness is vital to cases involving economic damages and other financial calculations. However, the expert must be much more than just a mathematician, market analyst, economic guru or forensic accountant. The job of the expert is far from over once the facts are analyzed and the calculations are completed. Traditional accounting and finance skills are not enough when it comes to litigation.
ThomsonReuters
MARCH 3, 2022
Texas Med. Assoc. v. HHS, 2022 WL 542879 (E.D. Tex. 2022); Memorandum Regarding Continuing Surprise Billing Protections for Consumers (Feb. 28, 2022). Memorandum. Upholding a challenge by health care providers, a federal trial court has vacated key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).
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Going Concern
MARCH 4, 2022
Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine. The firm is reviewing its “business and presence in Russia” according to a 2 March statement.
Withum
MARCH 2, 2022
I am now teaching my second course at Baruch College and the support I am receiving from the textbook publisher and Baruch’s IT department is nothing short of amazing. Artificial Intelligence (“AI”) is an everyday reality at Baruch. I attended Baruch when it got its first computer and it filled an entire air-conditioned room, and groups of students, of which I was part of, were given orientation on its benefits.
MazumaBusinessAccounting
MARCH 1, 2022
If you are self-employed or a contract worker and you are generating a profit, you may need to pay estimated quarterly taxes. This is the Internal Revenue Service’s (IRS) way of collecting taxes from people who don’t have them withheld from their paychecks through payroll. Our guide on estimated quarterly taxes will help you understand who needs to pay them, how to calculate them, and how to pay your quarterly taxes.
ThomsonReuters
MARCH 3, 2022
Complaint filed against USC, Pac-12, NCAA. A National Labor Relations Board (NLRB) complaint filed by the National College Players Association, a collegiate athletes’ advocacy group, against the University of Southern California, University of California Los Angeles, the Pac-12 Conference, and the?National Collegiate Athletic Association (NCAA) alleges that by classifying student-athletes as nonemployees, the university and intercollegiate athletics system as a whole is denying them right
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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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