TaxConnex

MAY 19, 2022

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.

Alaska 189

Alaska Colorado Louisiana West Virginia 189

RogerRossmeisl

MAY 16, 2022

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

CPA 237

CPA 237

Accounting Today

MAY 18, 2022

Tax 117

Tax tax preparation 117

BurklandAssociates

MAY 17, 2022

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.

Finance 195

Finance 195

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TaxConnex

MAY 17, 2022

“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.

New Mexico 176

New Mexico Illinois Texas Colorado 176

RogerRossmeisl

MAY 16, 2022

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.

audit 244

audit Tax tax return CPA 244

Going Concern

MAY 20, 2022

[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.

Texas 145

Texas public accounting Tax Account 145

Withum

MAY 16, 2022

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.

Real Estate 131

Real Estate Tax income tax tax return 131

RogerRossmeisl

MAY 16, 2022

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.

Entertainment 234

Entertainment CPA Tax Government 234

ThomsonReuters

MAY 19, 2022

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.

Tax 105

Tax tax return accounting and finance accounting firms 105

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.

Canopy Accounting

MAY 19, 2022

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.

CPA 105

CPA Account accountant accounted 105

Withum

MAY 16, 2022

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.

Healthcare 128

Healthcare Government Technology tax services 128

RogerRossmeisl

MAY 16, 2022

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.

CPA 219

CPA Account accountant accounted 219

ThomsonReuters

MAY 17, 2022

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.

Tax 105

Tax tax return income tax Start-ups 105

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

Technology

Going Concern

MAY 20, 2022

For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast. While business writers push endless streams of science fiction about robots taking jobs, technology has been quietly replacing intern busywork at public accounting firms for years.

Pennsylvania 98

Pennsylvania cpas Technology CPA 98

Withum

MAY 19, 2022

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.

Tax 125

Tax tax return payroll tax tax services 125

RogerRossmeisl

MAY 20, 2022

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?

Tax 217

Tax income tax CPA 217

Reckon

MAY 19, 2022

“My sole trader clients often have questions about business growth and taking on new staff. I often draw from my own experience as a business owner when advising them. After all, I’ve navigated these very same questions in my own business life.”. While fast-tracking business growth is the aim of the game for many entrepreneurs, expansion often requires bringing on new staff.

bookkeeping services 98

bookkeeping services bookkeeping payroll Construction 98

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Technology

ThomsonReuters

MAY 19, 2022

Texas Med. Assoc. v. HHS, 2022 WL 542879 (E.D. Tex. 2022); on appeal to 5th Cir., No. 22-40264, Doc. 00516304229 (May 3, 2022). At the request of the IRS, DOL, and HHS, the Fifth Circuit has put a hold on the agencies’ appeal of the trial court case vacating key portions of the interim final regulations implementing the independent dispute resolution (IDR) provisions of the No Surprises Act, enacted as part of the Consolidated Appropriations Act, 2021 (CAA).

Texas 98

Texas Tax Account accountant 98

Withum

MAY 18, 2022

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.

Tax 106

Tax Account accountant accounted 106

Anders CPA

MAY 17, 2022

If we’re discussing hindsight in business, let’s use a particularly early example. Pretend you own a business transporting goods by horse and carriage. You’re focused on finding a way to make your horses run faster or further. If you can figure that out, you’ll increase business. Meanwhile, there’s a guy trying to build an automobile that would replace the need for horses.

cpas 98

cpas Transportation CPA Sales 98

Ryan Lazanis

MAY 17, 2022

If you’re looking for the best marketing for accountants’ strategies, you’ve come to the right place. In this post, I’m going to outline 18 of the top strategies working well right now to help you attract clients. Most of these methods I’ve personally used myself to help take my cloud accounting firm from scratch to sale in just 5 years. Let’s check them out!

Account 98

Account accountant accounted accounting firms 98

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ThomsonReuters

MAY 19, 2022

QUESTION: We understand there is a small employer exception to COBRA for employers with fewer than 20 employees. What employees should we count for purposes of this exception? ANSWER: A group health plan is not subject to COBRA for any year if all employers maintaining the plan together employed fewer than 20 employees on a typical business day during the preceding year.

payroll 98

payroll Tax Account accountant 98

Canopy Accounting

MAY 18, 2022

Mental health determines how we handle stress, make choices and relate to others. It also impacts how we act, feel and think. The Center for Disease Control shockingly states that 1 in 5 Americans will experience a mental illness in a given year. One of the leading causes of disabilities is depression according to the National Alliance of Mental Illness.

98

98

Reckon

MAY 16, 2022

Jessica Morris, Reckon’s head of HR, chats to us about the continued importance of maintaining a rewarding workplace and rich culture. With COVID-19 radically altering the business landscape, shifting the way you cultivate a great place to work is of the utmost importance. Why is the Great Place To Work (GPTW) initiative so important? Having a GPTW is so important because we want to create a unique and great working environment for everyone as we spend a lot of our week here.

Maine 97

Maine Start-ups 97

CalCPA

MAY 17, 2022

Recognize an outstanding member or firm by submitting a nomination for a CalCPA Service Award: Public Service Award (individual): Given to a CPA. The post CalCPA BUZZ: Last Chance for CalCPA Service Award Nominations appeared first on Hot Topics.

CPA 97

CPA 97

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Finance

Patriot Software

MAY 20, 2022

You might have heard of the Golden Rule in life: Treat others as you want to be treated. But, did you know that there’s also a golden rule for accounting? In fact, there are three golden rules of accounting. And no … one of them is not treating your accounts the way you want to […] READ MORE.

Account 97

Account accountant accounted 97

Withum

MAY 20, 2022

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Celebrating 100 Years of Service With the YMCA appeared first on Withum.

111

111

Going Concern

MAY 19, 2022

Hanlon’s razor states “never attribute to malice that which is adequately explained by stupidity.” Meaning most of the time when someone does something bad, it’s not because they’re a bad person, rather too stupid to know better. Or something. Socially anxious people with victim complexes — who no doubt make up a large portion of Going Concern readership as well as contributors — should read up on the concept next time they’re convinced colleagues

CPA 94

CPA Tax Georgia accounting and finance 94

Canopy Accounting

MAY 16, 2022

After more than one year of staying indoors and working remotely, Canopy is excited to get back out there and attend our first in-person trade show in over a year: the American Institute of Certified Public Accountants (AICPA) Engage 2022, which runs from June 6-9 in Las Vegas, Nevada with a virtual option as well. We want to meet all of you, so be sure to stop by booth #1039 and say hi—you might even get some cool swag!

Nevada 91

Nevada public accounting Account accountant 91

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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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