RogerRossmeisl
JUNE 25, 2021
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.
xendoo
JUNE 23, 2021
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.
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TaxConnex
JUNE 22, 2021
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.
BurklandAssociates
JUNE 23, 2021
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.
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RogerRossmeisl
JUNE 25, 2021
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).
PANALITIX
JUNE 20, 2021
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.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
JUNE 22, 2021
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.
RogerRossmeisl
JUNE 24, 2021
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.
ThomsonReuters
JUNE 24, 2021
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.
GrowthForceBlog
JUNE 21, 2021
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.
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.
Withum
JUNE 24, 2021
“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.
RogerRossmeisl
JUNE 22, 2021
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.
ThomsonReuters
JUNE 22, 2021
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.
Patriot Software
JUNE 22, 2021
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.
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
xendoo
JUNE 24, 2021
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.
FraudFiles
JUNE 24, 2021
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).
ThomsonReuters
JUNE 22, 2021
As COVID-19 vaccinations continue to rise and a sense of normalcy slowly returns, we can hopefully put tumultuous payroll changes behind us. But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax.
Patriot Software
JUNE 21, 2021
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.
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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.
RitaKeller
JUNE 22, 2021
“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.
GrowthForceBlog
JUNE 25, 2021
6 min read. Let’s face it- no matter how great your business model is, or how profitable you are, you can’t survive without a healthy cash flow.
AccountingDepartment
JUNE 25, 2021
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.
Patriot Software
JUNE 22, 2021
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.
Advertiser: Paycor
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.
LyfeAccounting
JUNE 25, 2021
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.
GrowthForceBlog
JUNE 23, 2021
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.
Steve Feinberg
JUNE 25, 2021
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.
Ronika Khanna CPA,CA
JUNE 25, 2021
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.
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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.
AccountingDepartment
JUNE 24, 2021
The treasurer of a non-profit reports the organization's finances and handles the management of the organization's finances. The organization's bylaws outline the duties of its treasurer. Financial management is an important duty of the treasurer's responsibility. How they handle everything directly affects the public image. And it should be an image of trust and confidence in the organization.
LyfeAccounting
JUNE 23, 2021
In this post, we will be going over 10 passive income ideas that you can start implementing today. And even better, once started, will take little to no effort to maintain over time. Passive income is money you earn that takes very little effort. This is why it’s called passive. If you think about your business or job, that’s actually considered active income because it takes a lot of time and effort to earn money from it.
5 Minute Bookkeeping
JUNE 24, 2021
Coming across unapplied cash payment income and expenses in the Profit and Loss report during a QuickBooks Online cleanup can leave you stumped. What are these accounts for and where did they come from? How do you clean up these accounts to get rid of the balances? Keep reading, and I’ll answer these questions and tell you how to clean up unapplied cash payment income and expenses in QuickBooks Online.
ThomsonReuters
JUNE 24, 2021
EBSA Information Letter (June 14, 2021). Available at [link]. The DOL has issued an information letter rejecting several reasons for refusing to provide a claimant with an audio recording and transcript of a claim-related telephone conversation that was created for “quality assurance.” (As background, for a plan to provide “full and fair review” of an adverse benefit determination as required by the DOL’s claims procedure regulations, a claimant must be given—upon request and free of charge—cop
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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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