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The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is covered under a “high deductible health plan.
Editor’s Note: This post was originally published in November 2016 and has been revamped and updated for accuracy and comprehensiveness. . As a self-employed realtor, you face some unique challenges when tax season comes knocking at your door. Since you don’t have taxes withheld from a regular paycheck, it’s up to you to lessen your tax burden by identifying all of the deductible expenses you incur throughout the year.
A bill to enact economic nexus requirements – creating a sales and use tax obligation on remote sellers and marketplace facilitators – awaits only a signature to become law in Missouri. Missouri lawmakers delivered the passed version of S.B. 153 to the governor on May 25. Republican Gov. Mike Parson, who has expressed support for the measure, has at most 45 days to act on the bill.
Some startups have been blindsided by the ramifications of letting teams work from anywhere and everywhere. Here's what you need to know. The post Legal, Tax & Culture Implications of Remote Work at Startups appeared first on Burkland.
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.
RESOURCES / ARTICLES. Best Practices for . (Annual) Strategy Meetings. Partners, owners and/or managers of accounting businesses need to work on business strategy from time to time. These sessions can be hugely productive or… frankly… a waste of time. In this article we look at some best practices in strategy meetings which will help you get the best outcomes.
June 21 marked three years since the landmark decision in the South Dakota v. Wayfair case. The years since June 2018 have been unlike anything in the history of sales tax. The U.S. Supreme Court Wayfair decision three years ago empowered tax jurisdictions with the sudden authority to require thousands of companies to collect and remit sales tax. That requirement also landed just as e-commerce began to explode as a venue for more companies to sell more goods and services to more customers.
June 21 marked three years since the landmark decision in the South Dakota v. Wayfair case. The years since June 2018 have been unlike anything in the history of sales tax. The U.S. Supreme Court Wayfair decision three years ago empowered tax jurisdictions with the sudden authority to require thousands of companies to collect and remit sales tax. That requirement also landed just as e-commerce began to explode as a venue for more companies to sell more goods and services to more customers.
If you have hourly employees, you likely have them track their hours. But, what happens if they only work a fraction of an hour? How do you know how much to pay them? If you want to pay hourly employees for partial hours worked, you need to learn how to convert minutes for payroll. Read […] READ MORE.
Editor’s Note: This post was originally published in November 2019 and has been revamped and updated for accuracy and comprehensiveness. . As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited to do great work for your clients, whether buying or selling pieces of property. .
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.
It should mean nothing. Last week the Fed’s comments about inflation caused the stock market to drop. However, yesterday the market seems to have recovered somewhat.
To generate revenue and foster customer loyalty, many businesses, including retailers, airlines and credit card companies, create loyalty and reward programs. Such programs can help companies attract and retain customers, but they may also be subject to fraud and abuse. ATO risk Loyalty programs are particularly vulnerable to account takeovers (ATOs).
7 min read. If the past year revealed anything, it's humanity's incredible resilience. The ability to come together. even when we can't physically be together, as well as our ingenuity.
If you’re self-employed, you need to have a game plan when it comes to payroll. Self-employed individuals are responsible for withholding and remitting different taxes than other workers. If you want to ensure you’re compliant, learn more about self-employed payroll. Read on to discover the ins and outs of self-employed payroll, including how to calculate […] READ MORE.
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.
QUESTION: We require employees to submit proof of a COVID-19 vaccination before returning to work in our office. May our Human Resources Department confirm employees’ eligibility to return by checking COVID-19 vaccination claims submitted to our group health plan? ANSWER: The group health plan’s records generally should not be used to verify employees’ vaccination status for any employment-related purpose.
Even after your 2020 tax return has been successfully transmitted to the IRS, you may still have questions after filing your return. Here are brief answers to three questions that we’re frequently asked at this time of year. Are you wondering when you will receive your refund? The IRS has an online tool that can tell you the status of your refund. Go to irs.gov and click on “Get Your Refund Status.
“Broad-based stock market portfolio” is a widely used term, but just what does it mean? It is easy to say, but hard to define and even harder to construct a portfolio representative of the broad-based market.
Providing health insurance benefits to your employees can leave you with a lot of questions. If you have your employees contribute to their premiums, you have to know how to deduct the cost from their gross pay. But, are payroll deductions for health insurance pre-tax? Read on to learn the answer to this question and […] READ MORE.
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.
If the pandemic has taught us anything, it’s that changing people’s minds and behavior is difficult. No one enjoys being told what to do or feeling powerless. How then can IT leaders in large tax and accounting firms best make their case for new technology? “Getting people to change is a huge hurdle with firms. For most people in accounting firms, driving change, and leading people through change is not a natural skill set for them.
Although auto sales plunged at the start of the COVID-19 pandemic, they’ve since rebounded. In fact, some dealerships are reporting record sales in 2021. Problems remain — including supply bottlenecks. Also, your dealership may be more vulnerable to fraud. Factors such as employees working from home, new vendors and even booming sales, can put your business at risk.
Editor’s Note: This post was originally published in September 2019 and has been revamped and updated for accuracy and comprehensiveness. . As a busy restaurateur, it’s easy to push restaurant bookkeeping tasks to the bottom of your priority list. After all, you have better things to do – right? Not so fast. Restaurant bookkeeping is an essential function for businesses large and small, as accurate, reliable numbers are essential for sound decision making.
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.
At inDinero, we believe accounting supports business. We partner with our clients, and good partnerships require excellent communication. If a business owner doesn’t understand an accounting term , we don’t use another accounting term to explain it. We specialize in accountants who speak business to business owners and CEOs. Sometimes there’s just no avoiding accounting speak.
Most people understand that financial controllers play important roles in businesses and organizations of all different types. However, the average person does not have a comprehensive understanding of what financial controllers do and why they are essential to a company’s success. If you own or manage a growing business and do not have a financial controller, you should seriously consider adding one.
Everywhere you go, people are talking about cryptocurrency as an investment. From Bitcoin to Etherium to Dogecoin, there are a whole bunch of different cryptocurrencies that consumers can invest in. More people are starting to use cryptocurrency to pay for things and it is also gaining wider acceptance as an investment (albeit a very volatile one that isn’t for the faint of heart).
“The difficulty lies not so much in developing new ideas as in escaping from old ones.” – John Maynard Keynes. Summer is here and you have a mix of priorities on your work and life calendars. Usually, firms are doing performance feedback sessions and assessing what needs to be improved before the next busy season. You are also, personally, planning some stress-relieving vacation time.
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.
7 min read. “ The pandemic wasn't the cause of a lot of the issues that business owners are seeing. The pandemic essentially was a multiplier of a lot of the internal issues that businesses were already dealing with.” - Brett Dearing.
What everyone should know. The American Rescue plan signed in March, 2021 requires the IRS to pay out ½ of enhanced Child Tax Credits (CTC) to eligible taxpayers beginning this month. A tall order, and one filled with land mines. If you have children or know of anyone who has children, here is how you can help: What’s happening now. IRS web-sites. The IRS is establishing two web sites.
When starting your new business , it often makes sense to choose the simplest structure which is the sole proprietorship. This allows you to test the viability of your business idea and to see if the lifestyle and the related stress that goes along with being a business owner suits your personality and is in line with your long term goals. Alternatively, you might want to keep everything simple and not add any unnecessary complexity.
US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? It turns out that you can. You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. And according to UHaul statistics, a lot of people are. If you read until the end of this post, you’ll find out the top tax-free states and the lowest overall tax rates in the country.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
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