Sat.Nov 20, 2021 - Fri.Nov 26, 2021

How eCommerce Businesses Can Stay Compliant in Their Busiest Time of the Year

TaxConnex

We are in the midst of the busiest shopping season of the year. A time many retail businesses rely on to meet their year-end numbers. But what happens when a world still rocked by the pandemic continues to make the majority of its sales online?

Crypto Accounting: An Open Letter to the FASB

BurklandAssociates

The rapid growth of crypto assets has challenged regulators to standardize and issue timely authoritative guidance for crypto accounting. The AICPA has issued guidance outlining how companies should account for Read More.

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IRS Releases Guidance Surrounding Timing of PPP Forgiveness

Withum

Articles

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Lil Roberts, CEO Joins The y.FTL Panel at Endeavor Miami

xendoo

Endeavor Miami hosted their y.FTL panel, the second panel in their y.FLORIDA series. Lil Roberts, Xendoo’s CEO was one of the speakers. As Florida’s entrepreneurial ecosystem continues to develop they will continue to shed light on the strength of Florida’s entrepreneurs.

What Hourly Workers Want More than Money

Big companies are driving up wages, but there are other ways to compete for talent. Attract talented, ambitious people by giving them more control over their lives. Hourly workers want to make their daily lives and financial lives more predictable. Employers can assist by offering early access to pay, flexible scheduling, healthcare assistance, benefits where possible, and paid leave options.

Steve Padgett’s Thoughts on Being Thankful in Difficulty

SkagitCountyTaxServices

“It was the best of times. It was the worst of times.” I think we can agree that Charles Dickens’s famous lines ring true when looking back at 2020 and 2021 (though “best” might seem like a stretch).

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Foreign Exchange Accounting Practices: Effects on P&L and M&A

BurklandAssociates

Foreign currency exchange can have a significant impact on revenue and M&A transactions. This article explains how Burkland’s accounting team handles the complexities of foreign exchange transactions. Foreign Exchange Effects Read More.

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Lil Roberts joins Kison Patel of Boss Move Podcast to Discuss The Elements of Success

xendoo

Success is not about luck and chance. It’s about visionary leaders who intentionally pursue the critical elements every business needs to be successful.

Cash Flow: The X-Factor of Modern Business

AccountingDepartment

A business’ cash flow is just as important as the merits of its products or services. A business with a superior value offering has the potential to fold if it has insufficient cash flow.

Mindful Money: How Being in the Right Mindset Can Increase Profit

GrowthForceBlog

9 min read. When you think about the average CEO's mindset, you probably picture someone driven, creative, and insightful who never stops and has access to seemingly endless stores of energy. Leadership

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California Pass-Through Entity Tax May Have Unintended Consequences

Withum

Articles

5 Reasons People Quit, 10 Ways to Make Them Stay

Learn how to protect your company from The Great Resignation’s turnover epidemic.

Must a Plan Provide Extended COBRA Coverage Because of a Spouse’s Disability?

ThomsonReuters

QUESTION: A recently terminated employee has elected COBRA for himself, his spouse, and his children.

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AccountingDepartment.com Co-Founder, Dennis Najjar, Featured On The AmiSights Podcast

AccountingDepartment

AccountingDepartment.com Co-founder, Dennis Najjar, had the opportunity to join Ami Kassar, Business Strategist, on the AmiSights podcast.

Nonprofit Spotlight: Unleashing The Power of Capital For a Positive Global Impact

GrowthForceBlog

3 min read. 93% of U.S employees believe companies must lead with purpose- according to a recent Harvard Business study. [1] 1] Now more than ever, companies and investors should have a greater good in mind.

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Happy Thanksgiving

RitaKeller

“I awoke this morning with devout thanksgiving for my friends, the old and the new.” – Ralph Waldo Emerson. I am thankful for so many things and so many people in my life. Today, I want you to know that I am thankful to all of you who read this blog daily.

Employee Safety During COVID-19: Compliance Toolkit

Stay compliant with Paycor’s COVID-19 Action Plan FAQs and templates toolkit.

IRS Proposes Permanently Extending Deadlines for Furnishing ACA Statements to Individuals

ThomsonReuters

Information Reporting of Health Insurance Coverage and Other Issues under §§ 5000A, 6055, and 6056, 26 CFR Parts 1 and 301, 86 Fed. Reg. __ (__ __, 2021). Available at [link].

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Why A Business Should Start 2022 with Outsourced Accounting Services

AccountingDepartment

Outsourced accounting services are becoming that much more popular with each passing year for good reason. It no longer makes financial sense to pay salaries and benefits to an in-house accounting team when comparably affordable experts are available outside of the organization.

COVID-19 Workplace Guidelines for Federal Contractors

Withum

Articles Coronavirus

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Is a Lifestyle Analysis Simply Data Entry?

FraudFiles

When completing a lifestyle analysis in a divorce or child support case, I am often asked whether my work is simply data entry. Why does a forensic accountant need to do the lifestyle analysis? Can’t anyone with a bit of accounting training do it?

Mandatory COVID Vaccination Policy Template

The federal government is developing a rule requiring employers with more than 100 employees ensure their workers are vaccinated or produce a negative COVID test weekly before entering the workplace. So, what can your organization do to prepare? Get Paycor’s COVID Vaccination Policy Template to help communicate important details to your employees.

Agencies Issue Regulations Implementing Prescription Drug and Health Care Spending Reporting Requirements, Including Rules for Aggregating Data

ThomsonReuters

Interim Final Rule: Prescription Drug and Health Care Spending, 26 CFR Part 54, 29 CFR Part 2590, 45 CFR Part 149, 86 Fed. 66662 (Nov. 23, 2021); Fact Sheet: Prescription Drug and Health Care Spending Interim Final Rule With Request for Comments (Nov. 17, 2021). Regulations. Fact Sheet. News Release.

Keep Going: McKay’s Story

MazumaBusinessAccounting

Sometimes doing the opposite of what everyone else is doing is the right approach. That is what McKay learned when he started his business, Five Star Commerce. Five Star Commerce is a marketing and consulting service for brands selling on Amazon and Walmart as third-party sellers.

How Do I Pay Myself and My Taxes as a Partnership?

xendoo

Every partnership owner faces the unique challenges of self-payment, tax filing, and maximizing their tax savings. Although they would rather focus on growing their business, taxes and payroll often take up too much of their valuable time. .

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Creating an MLM in Ten Easy Steps

FraudFiles

Hundreds of thousands of Americans get sucked into Multi-Level Marketing (MLM) companies each year. From Mary Kay to Amway to Herbalife to PrePaid Legal, the list is seemingly endless.

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7 Ways to Manage a Talent Shortage

In this whitepaper, Paycor examines the top 7 things you can do to out-maneuver your competition and win the war for talent in the coming months.

Great Meetings

RitaKeller

“Once you’ve got 7 people in a decision-making group, each additional member reduces decision effectiveness by 10%.” – Dan Rockwell LeadershipFreak. Dan Rockwell gives us 3 Words That Make Meeting Great. Those 3 words are Specific. Shorter. Smaller. Follow the link to read more about these three words. I like the two words that apply to CPAs – Decide and Deliver. Too often, in partner meetings, decisions are put on hold.

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KROST Recognizes New CPA Licensees at the CalCPA LA Chapter ABC Networking Mixer 2021

KROST

KROST recognized our new CPA licensees at the CalCPA LA Chapter ABC Networking event on November 18th at the Luxe Hotel on Sunset in Hollywood.

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Clear Eligibility Provisions Avoid Employee’s Claims of Delayed Enrollment and Related Disclosure Failures

ThomsonReuters

McGinnis v. Costco Wholesale Corp. Benefits Prog., 2021 WL 4844094 (N.D. 2021). Available at [link].

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Retirement Plan Contribution Limits for 2022: 401(k) Limit Increases to $20,500.

LSLCPAs

About this time every year, the IRS publishes the contribution limits for retirement plans for the following year.

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How Finance and Accounting Operations Fail to Scale Efficiently

Accounting and finance become more complex at each stage of a company’s growth. Learn what to expect as you scale, and how decisions or neglect today might impact the future of your business. This guide provides a roadmap for a SaaS company with standard growth, all the way from idea to IPO and beyond.

Communication to Clients

RitaKeller

“Assumptions are the termites of relationships.” ” – Henry Winkler. Late last week I received a nice notice from one of my clients. It is what they sent to all of their clients letting them know that their offices will be closed for Thanksgiving on Thursday and Friday next week and that they will return to the office on Monday, November 29. It had a very tasteful Happy Thanksgiving picture message, too. Do you notify your clients of events like this one?

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Happy Thanksgiving

KROST

We’re so thankful for all of your support throughout the year. We wouldn’t be where we are today without you. We gave thanks this year by donating to the following organizations. If you would like to contribute to any of these groups, we’ve included links below for your convenience.

Fighting Burnout

ThomsonReuters

Burnout is no stranger to tax and accounting professionals, but in this pandemic world, it seems to be even more apparent. Prolonged exposure to stress and anxiety can create difficulty when trying to find work-life balance. So, if burnout is all around us, how can we fight it?

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Last Week in Payroll: Will Paid Family and Medical Leave Provision in House-Passed Spending Bill Survive the Senate?

ThomsonReuters

On November 19, 2021, the House passed a $2 trillion spending bill with a number of payroll-related provisions that include paid family and medical leave. House members voted mainly along party lines with a 220 to 213 final tally.

The #1 Cloud ERP Software to Manage Your Small to Mid-size Business.

From startup to enterprise NetSuite offers an ERP solution to help businesses scale and grow. With visibility and control when adaptability has never been more important, you’ll be able to streamline the right process and make smarter decisions, faster.