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Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. Nearly half the attendees of a recent TaxConnex webinar on multi-channel selling use direct/retail eCommerce as their main avenue of sales.
Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a decision to switch. Here’s a quick rundown of the most important issues to consider when converting from a C corporation to an S corporation: Built-in gains tax Although S corporations generally aren’t subject to tax, those
Burkland’s Managing Director, Tax Practice, Ardy Esmaeili, CPA contributed an article to TechCrunch this month; Starting up remotely? Keep these labor laws and tax guidelines in mind. Our team has Read More. The post Our New TechCrunch Article on Remote Work Laws & Tax Guidelines for 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.
Sales of tangible personal property (TPP) are presumed to be taxable unless specifically identified as not taxable. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example.
When criminals steal an individual’s identity, the victim can take steps to minimize potential damage by, for example, notifying credit agencies and freezing bank accounts. But what happens if a cybercrook steals a company’s identity and uses it to engage in fraud? This situation can be more complicated — and expensive — to resolve. Fraudsters who use your business’s digital assets for their benefit are known as brandjackers.
As the legalization at the state level continues to increase, the need for business valuation is increasing. The reasons for business valuations are varied and include the following: Transactional, which might include the acquisition of an existing business or the buy-in or buy-out of an ownership interest. Planning, which might include gifting and succession planning opportunities.
One thing I have learned since finding out about the IRS and the FBI conducting a court-ordered raid of Alliantgroup’s Houston offices last Friday morning is that there are A LOT of horror stories from ex-Ag employees about their experience working at the management and tax consulting firm. If you have the time, check out these threads, posted after the raid went down, on Fishbowl , r/Houston , and from a former Alliantgroup employee on Twitter.
The tax filing deadline for 2021 has passed. Now that your tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations: 1. You can throw some tax records away now You should hang onto tax records related to your return for as long as the IRS can audit your return or assess additional taxes.
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.
We know that mental wellbeing is vitally important, but for small business owners, striking a balance between work and mental health can feel almost impossible. . The past two years in particular have thrown up a previously unseen level of disruption and turmoil for small businesses. From the pandemic, to soaring inflation and energy prices, it’s no surprise that finding the time to invest in mental wellbeing is proving challenging. .
Stock market volatility has become a daily reality. Why, how and whether you invest in the stock market is your business. What I usually try to do is provide some information on suggested ways to consider stock market investing, and that is what I will be doing now. There are many things that affect the value of stocks — too many to sensibly grasp and use to determine what stocks to buy, so I suggest simplifying your decisions by investing through mutual funds.
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.
As public accountants pull the ripcord and bail out from their firms in droves for the greener grass of industry, government, and even the blissful quiet of unemployment so they can figure out what they really want to do with their lives there’s a lot of talk about the abandoned workloads being dumped on the fools loyal grunts who remain. Associates are doing senior work, seniors are involuntarily impersonating managers without manager pay , blah blah, none of this is news to any of you.
As people continue to return to office life, Basis 365 Accounting's Rhett Molitor examines what happens when calls for hybrid and remote options take hold.
The critical supply chain for so many sectors has been severely disrupted due to the COVID-19 pandemic (including severe restrictions in China) and the Ukraine conflict. On top of these events, there may be more shipping delays with the West Coast Dockworkers’ contract expiring on June 30, 2022. This workforce covers more than 22,000 dockworkers at 29 ports ranging from Washington State to Southern California; and provides a primary gateway for goods shipped from Asia to the United States.
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.
In this podcast episode, I shared my #1 strategy to combat scope creep and tips on how you can create a system to eliminate it in your firm. Listen below. 1:08 – Scope creep can cause disagreements with clients if you try to charge for out-of-scope work. 1: 30 – To eliminate scope creep, you should define the boundaries of your deliverables and ensure that your client understands them. 2:00 – A well-defined scope becomes extremely important because it helps protect the profitab
Last week, AccountingDepartment.com Business Development Representative, Luke Backus, attended the Veteran Entrepreneur Training Symposium 2022 (VETS'22) in Orlando, Florida.
Withum is proud to share that Jim Hannan , Partner and Practice Leader for Manufacturing, Distribution & Logistics , was recognized by ROI-NJ as a top influencer for 2022. Jim has over 30 years of experience in the industry, specializing in public offerings, SEC filings, international financial reporting standards and mergers and acquisitions. He oversees the MD&L Group at the Firm and has additional industry expertise in Wholesale Distribution Services , Life Sciences and Cannabis Secto
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.
Here’s a number for you: 47.2%. That was the 2021 annual total separation rate (aka the number of total separations as a percent of annual average employment). And here’s one more number for you: 4,258,000. That’s the number of employees who quit their jobs in January 2022. Quits are happening in businesses nationwide like there’s […] READ MORE.
Sending a quote is often the first digital interaction you have with a potential customer, so it’s important to make the right impression. We’ve made it easy in Xero – you can create a beautiful online quote in minutes, get customers to accept it on the spot, and quickly convert it into an invoice. To continue improving your experience, we’re introducing an exciting new feature and fresh design to quotes in Xero.
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.
You may be wondering if social media for accountants is a good marketing tool for your firm. The answer is yes! There are many reasons why accountants should use social media to market their firms. In this blog post, I will discuss the seven reasons why having a social media presence is important. I will also give you 11 tips on how to use social media for your accounting firm’s marketing efforts.
A Missouri bill, HB 2400, could affect businesses across the state with several provisions impacting the R&D tax credit, Missouri Works program, the State and Local Tax Parity Act and more. The bill was recently voted on and now heads to Governor Parson’s desk for signature. New Missouri R&D Tax Credit. While Missouri offers a sales tax exemption for research and development (R&D) purchases made within the state, Missouri has been without a state R&D tax credit since the program
If you’re an investor in cryptocurrency, you understand the current market has not been friendly. Most cryptocurrencies are currently down over 50% from their all-time highs. The term diamond handing is the belief that one should hold onto an asset that is currently losing value – and gets thrown around a lot during bear and bull markets. It is important to understand the current cryptocurrency rules that can provide a tax advantage to those who wish to continually hold their assets.
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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