RogerRossmeisl
APRIL 7, 2021
Dividing a marital estate is rarely easy. But it’s made much harder if a divorcing spouse owns a private business and attempts to artificially deflate its profits or hide assets. If you or your attorney suspects this type of deception, engage a forensic accountant to investigate. Key questions When working on divorce cases, fraud experts ask several questions about private business interests.
AccountingDepartment
APRIL 8, 2021
When it comes to selecting an outsourced accounting department to work with your company, you want to make sure you're making the right decision— the first time. There are many options to choose from and we have found that most quality outsourced accounting departments share 3 common traits across the board. If you're shopping for a new outsourced accounting service, be sure that the company you are looking at encompasses these traits.
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BurklandAssociates
APRIL 6, 2021
Howie Diamond is a Co-Founder and Managing Partner of Alpha Bridge Ventures. Howie recently joined Burkland’s Ruben Austin for a discussion about diversity in venture capital and startups. Q: Please Read More. The post Diversity in Venture Capital & Startups, a Conversation with Alpha Bridge Ventures appeared first on Burkland.
TaxConnex
APRIL 8, 2021
Of the 50 states, 45 (plus DC) charge a state-wide sales tax. Two of those states that have a state-wide sales tax, Missouri and Florida, have yet to adopt economic nexus standards set by the 2018 South Dakota v. Wayfair case. At least for now. Spurred by the pandemic’s impact on revenue in 2020, lawmakers in Florida and Missouri are expected to soon pass regulations that would require out of state businesses selling into the state to collect and remit sales tax.
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RogerRossmeisl
APRIL 8, 2021
Are you thinking about buying or replacing a vehicle that you’ll use in your business? If you consider a heavy SUV, you may be able to benefit from lucrative tax rules for those vehicles. Bonus depreciation Under current law, 100% first-year bonus depreciation is available for qualified new and used property that’s acquired and placed in service in a calendar year.
GrowthForceBlog
APRIL 6, 2021
6 min read. One of the biggest misconceptions of the Nonprofit world is that corporations and larger foundations are the biggest givers. In fact, it’s actually the complete opposite- over 70% of donations come from individual donors [1].
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
APRIL 9, 2021
ARPA established a 100% COBRA premium subsidy for continuing health coverage between April 1, 2021 through September 30, 2021. You may already be familiar with the term COBRA premium subsidy. A similar program was created during the Great Recession from 2007 to 2009 when the unemployment rate soared to over 9%. The American Recovery and Reinvestment Act of 2009 (ARRA) allowed workers who involuntarily terminated to be eligible for health coverage for up to 15 months at a reduced rate through a C
RogerRossmeisl
APRIL 5, 2021
Are you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most suitable form of business for your new venture. Here’s an explanation of the reasons why. The biggest advantage of an S corporation over a partnership is that as S corporation shareholders, you won’t be personally liable for corporate debts.
CapataCPA
APRIL 8, 2021
Deducting Meals and Entertainment Expenses While the Tax Cuts and Jobs Act (TCJA) of 2017 eliminated many deductions for business meals and entertainment, there are still some deductions available. Most of the deductions are in the form of business meals, but there are select exceptions of when a business can also deduct entertainment expenses. There have been two developments.
AccountingDepartment
APRIL 9, 2021
DCAA is short for Defense Contract Audit Agency. If your business seeks or has obtained government contracting work, your organization must establish DCAA compliance. The entirety of your business processes as well as your systems must be fully compliant with DCAA requirements.
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.
ThomsonReuters
APRIL 8, 2021
FAQs About COBRA Premium Assistance Under the American Rescue Plan Act of 2021 (Apr. 7, 2021); Model ARP General Notice and COBRA Continuation Coverage Election Notice; Model COBRA Continuation Coverage Notice in Connection With Extended Election Periods; Model Alternative Notice of ARP Continuation Coverage Election Notice; Model Notice of Expiration of Period of Premium Assistance; Summary of COBRA Premium Assistance Provisions Under the American Rescue Plan Act of 2021.
KROST
APRIL 9, 2021
Pasadena, CA. – KROST CPAs and Consultants, Los Angeles-based firm, receives two new accolades from Accounting Today , Top 100 Firms, and Fastest-Growing Firms in the U.S. KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax , accounting , consulting, assurance and advisory , M&A and capital markets , corporate tax incentives , and wealth management.
CTP
APRIL 6, 2021
Here is a common misconception: if a task is simple, it isn’t valuable. Don’t take this misconception lightly, as it can have huge implications regarding how you promote your business and the value you create. Pricing and effort are often (but not always) aligned. A painter, for instance, will charge a lot more to paint […]. The post Forget about “Simple” appeared first on certifiedtaxcoach.
AccountingDepartment
APRIL 3, 2021
You don't have to have an accounting degree to make wise business decisions. Entrepreneurs running a start-up, corporate department managers, and small business owners need enough bookkeeping knowledge to understand basic financial statements. Financials help you keep a watchful eye on the financial strength and performance of your organization. And, they help you spot potential problems early enough to make adjustments to your purchasing and spending habits before they become detrimental to suc
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
ThomsonReuters
APRIL 7, 2021
Private companies, whether you’re looking to value your business in preparation for a sale, to help raise debt or equity funding, for some other business purpose, or simply for your own edification, you’ve probably found that the valuation process isn’t an exact science and is rather intimidating. This post focuses on a private company valuation approach intended to help you secure debt funding in the face of the COVID-19 pandemic , to drive home the point that now’s the time, private companies,
Withum
APRIL 7, 2021
”Diamonds” are sometimes used to refer to something that is a precious gem that is not actually tangible. That is what Jamie Dimon, Chairman and CEO of JPMorgan Chase’s letter to shareholders is. A precious gem. A diamond. I recommend his letter as a must-read for anyone interested in getting a better understanding of the issues confronting the health, economy and social landscape of the United States.
Patriot Software
APRIL 7, 2021
The closer summer gets, the more teens begin looking for jobs—and, they might be applying to work for you. The Fair Labor Standards Act (FLSA) sets specific rules for hiring teens and children. Know the minor employment laws before you take on a minor employee. To learn more about the labor laws for minors seeking […] READ MORE.
AccountingDepartment
APRIL 5, 2021
Most business professionals understand cash basis and accrual basis accounting on a surface level. However, precious few people have a comprehensive understanding of what each of these accounting terms means and how they differ from one another. Furthermore, understanding these accounting methods is not enough in itself. What matters most is that you implement the optimal method for your unique business.
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ThomsonReuters
APRIL 6, 2021
Business marketplaces are tighter and competition fiercer. People entering the workforce have different expectations than previous generations—and often more options for where they work. The workplace is becoming more technology-reliant. Businesses across all industries must evolve to keep pace with these new challenges and take advantage of the opportunities they present.
Withum
APRIL 5, 2021
The baseball season started last Thursday, and while the Yankees started, the Mets had to wait. It might have been better if the Yankees also had to wait.
LSLCPAs
APRIL 8, 2021
Are you confident that your books are in order and up to date? If not, how do you get accurate books? The bookkeeper is your business’s financial foundation. And like a house, you can’t build on a shaky substructure! A great bookkeeper can give you peace of mind. A top-notch […]. The post What You Can Expect Your Bookkeeper to Do for You & Your Business appeared first on LSL CPAs.
AccountingDepartment
APRIL 8, 2021
As a business owner, the balance sheet is one of the most important documents you can use to evaluate the financial health of your company and make key decisions. Unfortunately, because some business owners may not fully understand the contents of this document, they may overlook it entirely. Below is some basic information about the balance sheet, as well as some tips to help you better understand this document.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
CTP
APRIL 8, 2021
Although the focus of this post is PPP forgiveness, the loan itself is a great deal. The payment terms are phenomenal, and it can be essential to helping people get back on their feet. So even if you have clients that don’t qualify for 100% forgiveness, the interest rate is phenomenal. But loan forgiveness is […]. The post PPP Forgiveness appeared first on certifiedtaxcoach.
ThomsonReuters
APRIL 8, 2021
FAQs About Mental Health and Substance Use Disorder Parity Implementation and the Consolidated Appropriations Act, 2021 Part 45 (April 2, 2021). Available at [link]. The Consolidated Appropriations Act, 2021 (see our Checkpoint article ) amended the Mental Health Parity and Addiction Equity Act (MHPAEA) to require group health plans and insurers that provide both medical/surgical benefits and mental health or substance use disorder (MH/SUD) benefits—and that impose nonquantitative treatment li
FraudFiles
APRIL 8, 2021
Tracy talks about the types of damages that an expert may be asked to calculate in securities fraud cases, such as realized/unrealized gains on investments, margin interest, and more.
AccountingDepartment
APRIL 7, 2021
There is a substantive difference between financial reports and management reports yet plenty of people confuse these unique reports for one another. Though most people are unaware of exactly how these two reports differ from one another, there is no excuse for a professional to not understand each report's respective content and purposes. Below, we eliminate the mystery, detailing exactly how management reports and financial reports are different.
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xendoo
APRIL 6, 2021
Editor’s Note: This post was originally published in March 2020 and has been updated for accuracy and comprehensiveness. For all the challenges the economy faced in 2020, it may come as something of a surprise that overall domestic retail sales saw their highest rate of growth in over two decades during 2020. What probably isn’t much of a surprise to anyone who has been paying attention is that that strong growth was driven entirely by eCommerce trends in 2020, with online sales accounting
ThomsonReuters
APRIL 8, 2021
QUESTION: Can you explain the requirement that claims and appeals notices be provided in a “culturally and linguistically appropriate” manner? ANSWER: Notices sent by group health plans or insurers relating to claims, appeals, and external review, and notices of adverse benefit determination with respect to disability benefits, must be provided in a “culturally and linguistically appropriate manner.
Martin Quinn
APRIL 5, 2021
Photo by Pixabay on Pexels.com. Throughout my professional and academic career as a management accountant/teacher of same, the issue of sustainability has always been something with just made intuitive sense to me. This may be due to my rural background which has instilled an appreciation of all things around me into my ways of working and thinking.
LyfeAccounting
APRIL 4, 2021
So a lot of people already know the personal tax deadline has been extended from April 15 to May 17, 2021, due to some major IRS delays. So basically people are getting an extra 30 days to file their personal tax return. However, there are still some important tax deadlines that are in place that you need to know about especially if you’re self-employed or you’re a small business owner.
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