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Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them. Local sales are becoming an increasing burden for online sellers as cities, counties and towns nationwide constantly tinker with their own sales taxes and other jurisdictions create new economic nexus rules. Accurately collecting, reporting and remitting is a major, ever-changing challenge for online sellers.
Valuation discounts for lack of control and marketability are major points of contention when companies or controlling shareholders are required to buy out shareholders who own minority interests. What’s appropriate depends on the facts of the case — and there’s an important distinction between statutory and contractual buyouts. Statutory buyouts In many jurisdictions, minority shareholders who are oppressed by controlling shareholders or who dissent to major business decisions are entitled to r
SaaS startups need strong metrics for Series A funding that demonstrate traction, growth, profitability, and efficiency. The post Critical Series A Finance Metrics for SaaS 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.
“Sourcing” or as we often call it, situsing, is key when you determine sales tax obligations: It refers to the location where a sale is taxed. According to the Sales Tax Institute there may be changes on the horizon– and though the aim appears to lean towards improving life for remote sellers, the changes only seem to make meeting sales tax obligations harder.
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS.
[UPDATE 5] Not sure if this is pertinent as to why the FBI and IRS raided Alliantgroup’s offices in Houston this morning, but one Alliantgroup employee who contacted us earlier today said the firm’s billing practices are unfair to its clients: For most clients there is a 35% fee cap for our services. Employees are incentivized to use this entire amount up.
[UPDATE 5] Not sure if this is pertinent as to why the FBI and IRS raided Alliantgroup’s offices in Houston this morning, but one Alliantgroup employee who contacted us earlier today said the firm’s billing practices are unfair to its clients: For most clients there is a 35% fee cap for our services. Employees are incentivized to use this entire amount up.
Patent-pending Email and Accounting Software Integration Revolutionizes and Streamlines Payments and Month-end Closing Workflows. Seattle, WA – May 19, 2022 — Lockstep® , the leader in connected accounting, today announced the launch of Lockstep Inbox , the first-ever shared inbox for accounting teams. An industry first, Lockstep Inbox is a free solution that streamlines accounting workflows between companies such as onboarding, invoicing, disputes, payments, and reconciliation.
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview. Traditional IRAs You can make an annual deductible contribution to a traditional IRA if: You (and your spouse) aren’t active participants in employer-sponsored retirement plans, or You (or your spouse) are active participants in an employer plan, and your modified adjusted
The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. The decrease in value of commercial property has forced many owners to restructure their debt. However, the resulting forgiveness of a portion of the debt does not automatically result in federal taxable income.
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.
Excel is still a favorite for reporting in relation to cloud-based applications like Xero in the accounting space. It is predominantly driven by widely available knowledge, flexibility, and options for adding custom calculation options. The beauty of this productivity tool is that exporting data to Excel is simple and straightforward, knowledge is widely available, and the flexibility and ease of adding custom calculations is unparalleled.
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021). So, you can take a customer out for a business meal or order take-out for your team and temporarily write off the entire cost — including the tip, sales tax and any delivery charges.
Is Your QuickBooks company file ready for 2022? Three things you can do to put things in order. Don’t forget about QuickBooks while you’re catching up on 2021 and looking ahead to 2022. You probably don’t want to put one more item on your to-do list, but any steps you take now to ready the software for the new year will pay off. Once you start entering transactions and placing orders and welcoming new customers, it will help tremendously to have a clean slate.
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.
Cybercriminals are increasingly targeting law firms; extortion is quickly realized, given the nature of highly confidential client data. The digital footprint of law firms is constantly expanding, leading to more entrances to a firm’s network infrastructure, which is a direct gateway to data. This expansion, combined with insider risks (a firm’s own staff), makes having risk-control protocols of paramount importance.
When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to preventing fraud, especially in the case of wire and automated clearing house transactions. In most cases, if a caller claims to work for the fraud department of your or your business’s bank, the call is likely legitimate.
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 you received a notice regarding deferred social security taxes that you partially paid back in December 2021, then you are not alone. The IRS has recently issued CP256V Notices to taxpayers that assert penalties and interest for failure to make proper federal tax repayments relating to Form 941. This article will discuss why the IRS is issuing these notices and how you can respond to get the penalties abated.
If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020. But despite their popularity, the tax rules involved in selling mutual fund shares can be complex. What are the basic tax rules?
Lockstep is pleased to announce our latest offering, Lockstep® Inbox. Revolutionizing accounting, Lockstep Inbox creates an shared inbox where accounting teams professionals can work better with customers and vendors. Today, more than 90% of accounting professionals are using manual personal, email inboxes and spreadsheets to manage their “digital” accounting workflows.
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.
Unfortunately, businesses often make assumptions about what their clients want. Sometimes they miss the mark, which can lead to misunderstandings, unmet expectations, and potentially dissatisfied clients who eventually take their business elsewhere. “When a firm, or any other business, has been doing things the same way for 10, 20, or 30 years — and it has worked for 10, 20, or 30 years — there are blind spots,” said Greg Pope, Vice President of Marketing at SurePrep.
Times have changed these past few years, haven’t they? There have been so many differences around the world, not only in our personal lives, but in our professional lives as well. The changing times are impacting everyone, including clients—your clients are reevaluating their needs when it comes to their accounting professionals. Gone are the days of clients sticking with a CPA solely because they’ve been with them for years.
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.
I’ve spoken to quite a few people in the last month that told me they are getting “killed” in the stock market. I listen but do not offer much commiseration. The economy and stock market run in cycles. It is not static and has never been static. It is constantly in flux. Over the last ten years, even including the tanking in March 2020, we’ve had a huge run-up in the stock market.
Do you have clients working full- or part-time in the gig economy? Self-employed workers who drive for Uber or deliver food for DoorDash, who sell crafts and merchandise on Etsy, or who hire out their services on TaskRabbit? These budding entrepreneurs often get paid through mobile payment services like Venmo, Paypal or CashApp or get paid directly through the Uber or Doordash app.
After getting rid of the boil on its butt (that boil being ex-chairman William Duhnke ) last June, the PCAOB seems to be feeling pretty good now under the leadership of Erica Williams. And that’s bad news for audit firms. The PCAOB has created new ways of disciplining audit firms and auditors who bend the rules, as the new chair and board members put more of a focus on enforcement and increasing their scrutiny of the guardians of the capital markets.
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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