Sat.Sep 04, 2021 - Fri.Sep 10, 2021

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It’s a Good Time to be a Good Listener…

PANALITIX

RESOURCES / ARTICLES. It’s a Good Time to be a Good Listener…. If you really want to help clients, just listening to them is not enough. You need to ‘hear’ what they are communicating, which takes empathy and energy. This concept is very well-explained by a Panalitix client based on his own experience. For more on Effective Listening, read on…. We work with many accountants trying to sell ADVISORY services to clients.

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The Franchise Landscape

xendoo

On the heels of Covid lockdowns and quarantine, we are seeing unprecedented levels of interest in business ownership with much of this interest coming through the avenue of franchising. Year-to-date, our client placements have increased well over 50% vs. 2020, which despite Covid, saw similar levels of expansion over 2019. The vast majority of these placements have come in industries outside of food and lodging, which we will touch on later.

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Trending Sources

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Tax Consequences of Employer Provided Life Insurance

RogerRossmeisl

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable income tax implications. Tax on income you don’t receive The first $50,000 of group term life insurance coverage that your employer provides is excluded from taxable income and doesn’t add anything to your income tax bill.

Tax 245
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What you need to know: “Origin” vs. “destination” states

TaxConnex

In real estate they say, “Location! Location! Location!” Same is true for sales tax – except the word can have different meanings. For example, when it comes to sales tax, do you need to follow “destination-based” or “origin-based” rules? Right to the source “Sourcing” is important when you determine your sales tax obligations. Sourcing refers to the location where a sale is taxed.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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SaaS Metrics Simplified, Part Two: Optimize & Scale

BurklandAssociates

(This article is Part II of SaaS Metrics Simplified. Also see Part I, Launch Metrics.) To truly understand your SaaS company’s performance, you need to go beyond standard financial metrics, Read More. The post SaaS Metrics Simplified, Part Two: Optimize & Scale appeared first on Burkland.

Account 130
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Whittier 911 Urgent accounting help

MyIRSRelief

This article is for business owners who need emergency bookkeeping, accounting services to catch up on back years and unprepared books. Many Whittier, Los Angeles, Orange County, and other businesses find themselves at a critical time financially due to Covid-19. The only true way to survive is to realize that you need professional CPA, EA help, finding the right help is the key.

Account 130

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When Does the Premium Subsidy End for a Biweekly COBRA Billing Cycle?

ThomsonReuters

QUESTION: We understand that the COBRA premium subsidy is set to expire on September 30, 2021. Does this mean the subsidy will be cut off on that date regardless of a plan’s COBRA billing cycle? ANSWER: In general, the COBRA premium subsidy for an assistance eligible individual (AEI) ends on the earliest of (1) the end of the AEI’s maximum COBRA coverage period; (2) the first month after the AEI becomes eligible for other disqualifying health coverage; or (3) September 30, 2021 (the end of the

Tax 110
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The Best Small Business Bookkeeping Solutions

xendoo

As a small business owner, your time is best spent on the revenue-generating features of your business— not hunched over a computer screen scrolling through QuickBooks! . Thankfully, a reliable bookkeeping solution is just a click away. What should you look for in an accounting or bookkeeping service? Today, we’ll highlight five of the best small business bookkeeping service solutions.

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Businesses With Workplace Diversity Have 19% Higher Revenue. Here’s Why.

GrowthForceBlog

7 min read. It’s a fact! If you aren’t prioritizing workplace diversity and equity in your organization, you’re missing out on higher revenues, innovation, and stronger talent acquisition opportunities.

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Getting a Divorce? Be Aware of Tax Implications if you Own a Business

RogerRossmeisl

If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it. Tax-free property transfers You can generally divide most assets, including cash and business ownership interests, between you and your soon-to-be ex-spouse without any federal income or gift tax consequences.

Tax 244
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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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Cigna Well Being Award

Withum

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How To Find The Right Online Accountant For Your Business

xendoo

Every small business owner should have access to an accountant. A small business accountant can provide guidance at every stage of your company’s development, and they can be invaluable when it comes to tax preparation, succession planning, and more. An online accountant can also deliver these services at a price that fits the limited budget of modern business owners. .

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Being Proactive, Not Reactive When Scaling a Business

AccountingDepartment

It almost comes without saying that being proactive to growth will better position a company in the long run. However, many companies are not equipped to handle rapid and unexpected growth until it hits and then they are left scrambling. Getting comfortable with a dated or incapable business management system is an easy way for a company to get lost within their own band-aids and adapt to the shortcomings of the system itself.

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Casualty Loss Tax Deductions Can Only Be Claimed in Certain Situations

RogerRossmeisl

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But there are now restrictions that make these casualty loss tax deductions harder to take.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Investment Silos

Withum

Many people with investments have them spread over a number of accounts with multiple designations, which I call silos. The problem is that the silos sometimes become impenetrable walls. Here is how to handle this.

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IRS Information Letters Address Fundamentals of HSAs and HDHPs

ThomsonReuters

IRS Information Letters 2021-0008 (May 11, 2021) and 2021-0014 (April 16, 2021). Letter 2021-0008. Letter 2021-0014. The IRS has released two information letters that provide general information about health savings accounts (HSAs) and high-deductible health plans (HDHPs). The first responds to an inquiry on behalf of an HSA account holder who claimed that his employer overcontributed to his HSA, and that the custodian of his HSA mismanaged the HSA and failed to provide a corrected Form 5948-SA.

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Creating a Sales Invoice in NetSuite

AccountingDepartment

Creating an invoice the right way is important for two reasons. Businesses need to send invoices to get paid, and entering the sale tracks revenue for accounting purposes. Here's how to do it.

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How to Conduct a Remote Fraud Investigation

RogerRossmeisl

Before the COVID-19 pandemic, most fraud investigations took place in the office or other work facility. This made it easy for investigators to gather and analyze data and interview suspects and witnesses in a face-to-face setting. But if your company allows employees to work from home — either temporarily or permanently — you may need to conduct a remote fraud investigation.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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The Senate Finance Committee Continues To Build Upon Proposed Changes to U.S. International Tax Rules

Withum

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Cover Letters

RitaKeller

“A well-written cover letter can be the difference between winning or losing a job opportunity.” – Larry Sheftel, Apr io. It is always great to be featured in The Journal of Accountancy. Thank you to Teri Saylor for contacting me to discuss the power, lack of power, and use of cover letters for resumes. Do you expect a cover letter when someone submits a resume?

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Benefits of Monitoring 401(k) Plan Each Quarter

LSLCPAs

Large and Small Plans and a Handy Checklist! Administering a retirement plan carries a fiduciary responsibility for the employer. For those stakeholders (it’s your retirement, too), monitoring the plans quarterly is just good business. Two main benefits of quarterly 401(k) monitoring FIRST BENEFIT The participants gain from having the sponsor monitor their plan benefits on.

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Disaster Recovery Planning Your Skagit County Small Business Probably Needs

SkagitCountyTaxServices

The phone rings in the middle of the night and a voice says your office is on fire. Early on a long weekend, that old pipe in the back finally bursts and no one will see the water for days. Or suddenly the Weather Channel’s saying a hurricane is barreling in your city’s direction. Oh, it’s always the other guy, you say? Ask the folks in Louisiana and Mississippi this week, or those out West most of this summer.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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$25.5B of New Provider Relief Funds to be Released!

Withum

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5 Signs Your Business Needs a Professional Bookkeeper

MazumaBusinessAccounting

Entrepreneurs and small business owners are good at wearing multiple hats. They’re the marketing department, the production assistant, the CEO, the customer service rep, and much more. If you’ve been in business long, odds are you’ve learned quite a bit about finances (or you want to) and you might have even gotten pretty savvy at handling your books.

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IRS Extends Interim Amendment Deadline for Pre-Approved Plans

ThomsonReuters

Revenue Procedure 2021-38 (Sept. 1, 2021). Available at [link]. The IRS has extended the period during which pre-approved plans may timely adopt intofficewindowserim amendments. The extension revises Revenue Procedure 2016-37, which (among other things) modified and restated the current six-year adoption and submission cycles for pre-approved plans (see our Checkpoint article ).

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Milwaukee Alderwoman Chantia Lewis Charged With Fraud

FraudFiles

On Tuesday, Milwaukee Alderwoman Chantia Lewis was charged with 4 felonies and 1 misdemeanor related to misconduct in public office, embezzlement, fraud, and campaign finance violations. Her attorneys say this situation is just about “accounting errors.” The detailed criminal complaint includes compelling evidence, however. The total Ms.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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Updated Employee Plans Compliance Resolution System Issued by the IRS

Withum

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CalCPA BUZZ: CalCPA Health Trust Nominations Open

CalCPA

CalCPA Council annually nominates candidates to serve as trustees of CalCPA Health (The Group Insurance Trust of the California Society of CPAs). Additionally, The post CalCPA BUZZ: CalCPA Health Trust Nominations Open appeared first on Hot Topics.

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IRS Announces Special Per Diem Rates for Travel Away From Home Beginning October 1, 2021

ThomsonReuters

IRS Notice 2021-52 (Sept. 3, 2021). Available at [link]. The IRS has announced the special per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2021. Employers using these rates to set per diem allowances can treat the amount of certain categories of travel expenses as substantiated without requiring that employees prove the actual amount they spent.

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Investigating Ponzi Schemes

FraudFiles

You’ve heard news stories involving Ponzi schemes. Investment scams and Ponzi schemes are all too common, even thought consumers are warned about them regularly. Investors are lured in with promises of high returns. People in or nearing retirement find these investments enticing, especially as their retirement funds in the stock market have taken many hits in the last few years.

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How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

Speaker: Kim Beynon, CPA, CGMA, PMP

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.