RogerRossmeisl
SEPTEMBER 1, 2021
Although COVID-19 remains a concern, many people have started traveling again — both for business and pleasure. Unfortunately, as travel demand has increased, so has travel-related fraud. For example, some fraud perpetrators posing as airline employees call would-be victims to try to elicit credit card numbers. Other scam artists send phishing emails that appear to offer cheap seats or rooms.
SMBAccountant
AUGUST 30, 2021
When applying for government contracts, it’s important to understand the types of contract options that are available to you. Each type of contract carries its own risks and opportunities and can help you make decisions when compiling your proposal. Project managers should work closely with their team to manage resources, track the project’s performance to budget, and communicate with the accounting department to review billing rates to make sure the contract remains profitable.
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MazumaBusinessAccounting
SEPTEMBER 2, 2021
Furnishing an office is a necessary but expensive endeavor. The Internal Revenue Service (IRS) understands that office furniture is a vital aspect of running a business, so they allow business owners to deduct those expenses from their taxable income. Office Furniture. There are rules when it comes to deducting office furniture. First, the IRS only allows you to deduct $5,000 worth of furniture if you are just starting your business.
TaxConnex
AUGUST 31, 2021
A Voluntary Disclosure Agreement (VDA) can be a great tool to address past sales tax obligations, but it’s important to consider all the plusses and minuses and ensure you make the right decision for your business when it comes to mitigation efforts. When companies determine on their own (not from a tax authority or audit) that they have historical risk concerning sales tax obligations and exposure, one of the primary options for mitigation is a VDA.
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RogerRossmeisl
SEPTEMBER 1, 2021
There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related expenses. Who is eligible?
BurklandAssociates
AUGUST 31, 2021
To truly understand your SaaS company’s performance, you need to go beyond standard financial metrics, such as revenue and operating income, and dive into SaaS metrics. Debbie Rosler, Fractional CFO Read More. The post SaaS Metrics Simplified, Part One: Launch Metrics appeared first on Burkland.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
SEPTEMBER 2, 2021
Managing a sales and use tax audit can be challenging. And many businesses mishandle the process, making it all that much more difficult on themselves. First, you should always anticipate an audit – even if you’ve never been audited before. While they are definitely becoming more frequent as states try to crack down on economic nexus laws, rarely are you given advanced notice as to when an audit will occur.
ThomsonReuters
SEPTEMBER 2, 2021
QUESTION: Our company sponsors an ERISA health plan and has received a request from the DOL for plan-related documents. Is this an audit, and what should we expect if it is? ANSWER: The request for documents probably does signal the beginning of a DOL civil investigation (often referred to as an “audit”). You should address this inquiry without delay, as a prompt and cordial response can establish a positive rapport with the investigator.
xendoo
SEPTEMBER 1, 2021
Bookkeeping is Holding You Back. Business owners know their companies like the back of their hands. They are the head of every department, and perform the work of multiple people. Of all the roles they play, our customers express that the bookkeeper role is their least favorite. . DIY bookkeeping holds business owners back from fully focusing on their business, which is why they decide to outsource it.
AccountingDepartment
SEPTEMBER 1, 2021
Having access to data is one of the most important factors that come into play when running a business. Technology has made it easier over the years when it comes to collecting and presenting data, but having the most current and advanced technology will keep a company's reporting on top.
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.
RitaKeller
SEPTEMBER 1, 2021
“Doubt is a killer. You just have to know who you are and what you stand for.” -Jennifer Lopez. As baby boomers retire and many of them have already, the firm is usually faced with a shortage of rainmakers. Of course, their knowledge and experience with technical work are also missed. Firms have spent many years and a lot of money developing technical experts.
ThomsonReuters
AUGUST 31, 2021
Dear friends, We are saddened and concerned as we watch Hurricane Ida batter areas of the southern U.S. with damaging winds and significant rainfall. Please know that your friends at Thomson Reuters have all who are in the path of the storm in our thoughts and prayers. While the full impact is still uncertain, we hope that you remain safe and can quickly recover from the effects of these disasters.
xendoo
AUGUST 30, 2021
Bookkeeping is critical to the financial health of every business, but business owners rarely have the time (or desire) to manage it themselves. To take their time back, many business owners choose to outsource their bookkeeping and accounting. There are many options available, from traditional CPAs to tech-savvy online companies. So, how do you choose the right financial partner for your business?
GrowthForceBlog
SEPTEMBER 3, 2021
5 min read. Meetings are arguably one of the most expensive overhead costs in any organization, and unproductive meetings have an alarming effect on the bottom line.
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
SkagitCountyTaxServices
SEPTEMBER 1, 2021
In the olden days, Skagit County business owners kept track of their records by hand in the old reliable notebook or ledger. So what an innovation it must have seemed to move business information to a floppy disk that could plug into a computer. The disks got smaller (and a lot less floppy – thankfully), but the idea fundamentally remained that be it floppy, hard drive, thumb drive, or even your own server, your customer and other business data were where you could locate it, most likely r
RitaKeller
AUGUST 31, 2021
“We wanted to create a platform where freelancers could connect with the right client.” – Chad Taylor, Paro. The question in the title is really a stupid question. Every firm I talk to is looking for qualified people to help the firm provide exceptional client service. Some firms are so desperate that they are considering outplacing some clients.
Withum
AUGUST 30, 2021
Steve Feinberg
SEPTEMBER 2, 2021
As the Covid-19 pandemic self employed tax deductions offices and workspaces around the country, many American workers had to adapt to doing their jobs or running their businesses from home. Of course, home offices are not a new concept, and the IRS has had a framework in place for granting work from home tax deductions for home offices for decades.
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Ronika Khanna CPA,CA
SEPTEMBER 3, 2021
Over the years my clients have come to me with their financial data in various formats. I have received shoeboxes of receipts which need to be deciphered and compiled. Some clients have given me their spreadsheets in excel, google or occasionally summaries in a word document. Others decided it made sense to use accounting software right at the outset of their businesses.
KROST
SEPTEMBER 3, 2021
Congratulations to Amber Tabata on being selected as one of the ten winners of The George Willie Ethnically Diverse Student Scholarship & Internship Program. KROST will sponsor Amber Tabata’s internship in 2022 during busy season and AICPA will award her up to $10,000 in scholarship funds. This scholarship and internship program benefits ethnically diverse students pursuing an accounting degree.
FraudFiles
SEPTEMBER 3, 2021
Everyone is asking about cryptocurrency and NFTs (Non-Fungible Tokens) in divorce. More and more people are investing in and using cryptocurrency, and it could be an important asset that needs to be accounted for during the divorce. In some cases, one spouse has made or lost a lot of money trading crypto, and that has implications too. So what do you do if you haven’t a clue about this crypto stuff?
Pooley Accounting Services
SEPTEMBER 2, 2021
At first glance, it may seem like all accounting professionals fit in the same box and offer the same skillset. In reality, it’s not that simple. So, how do you know who you should work with and what your company really needs? Let’s talk about four major roles and the differences between them. . Bookkeeper. The role of the bookkeeper is the foundation for all the rest.
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ThomsonReuters
SEPTEMBER 2, 2021
What is a tax provision? Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. A tax provision is just one type of provision that corporate finance departments set aside to cover a probable future expense. Other types of provisions a business typically accounts for include bad debts, depreciation, product warranties, pensions, and sales allowances.
xendoo
SEPTEMBER 2, 2021
If you’re living the independent consultant life, you probably think it’s pretty sweet that you don’t have a boss over you, telling you what to do. But aside from your mini-bosses (AKA clients), you still have one more entity to which you report: The IRS. . The IRS watches consultants closely, and every tax dollar that is owed has to be accounted for.
FraudFiles
AUGUST 31, 2021
Fraud is committed by real people. They have real families and real jobs. They often are just like you and me. But what makes thieves different from a lot of us is their ability to lie and steal. Most of us would never seriously consider taking something that does not belong to us, especially not significant sums of money. But thieves are different.
SchoolofBookkeeping
AUGUST 30, 2021
Things to keep in mind before you convert. If you use Multicurrency in QuickBooks Online, you shouldn't convert to QuickBooks Desktop. Your data will not export correctly. You need a recent version of QuickBooks Desktop installed before you start. You can download a trial to use as an alternative. How your data converts from QuickBooks Online to QuickBooks Desktop.
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ThomsonReuters
SEPTEMBER 2, 2021
IRS Webpage: IRS Checklists for Retirement Plan Documents. Available at [link]. The IRS has updated nearly all of the “subject matter packages” used by IRS specialists when reviewing retirement plan documents. Each package consists of an Explanation, a Worksheet, and a Checksheet that are designed to be used together. The Explanations are considered IRS publications, and the Worksheets and Checksheets are IRS forms.
RitaKeller
SEPTEMBER 2, 2021
“You control your own life. Your own will is extremely powerful.” – J. K. Rowling. I am assuming you are familiar with Harry Potter. I read all the books and watched all the movies. J. K. Rowling created a fascinating world. Let’s take a somewhat light-hearted look at how Dementors might apply inside your firm. When you read the following meaning of Dementors, I wonder what it brings to mind.
SchoolofBookkeeping
AUGUST 30, 2021
Things to keep in mind before you convert If you use Multicurrency in QuickBooks Online, you shouldn’t convert to QuickBooks Desktop. Your data will not export correctly. You need a recent version of QuickBooks Desktop installed before you start. You. Read More. The post Things to Consider when you convert from QuickBooks Online to QuickBooks Desktop appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.
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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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