PYMNTS

JANUARY 15, 2021

For stablecoins, concept is edging closer to reality, especially for digital dollars – with a dose of regulatory clarity. To that end, as Jeremy Allaire , CEO of Circle , told PYMNTS’ Karen Webster, a number of trends are converging to bring stablecoins into the mainstream of commercial and consumer payments. As noted in this space earlier in the month, the Office of the Comptroller of the Currency (OCC) said that banks can utilize stablecoins in transactions, among other banking activities.

B2B 101

B2B Legal Retail Government 101

RogerRossmeisl

JANUARY 9, 2021

In response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic, IRS Notice 2021-07 provides temporary relief for employers and employees using the automobile lease valuation rule to determine the value of an employee’s personal use of an employer provided automobile for purposes of income inclusion, employment tax, and reporting. Due solely to the COVID-19 pandemic, if certain requirements are satisfied, employers and employees that are using the automobile lease valuation rule may inst

CPA 240

CPA Tax cpa firm business tax 240

BurklandAssociates

JANUARY 13, 2021

The Burkland Fractional CFO team has compiled a set of tools and resources to help early-stage SaaS Startups. You will find helpful spreadsheets, including a tool to track customer contracts Read More. The post Tools and Resources for Early-Stage SaaS Startups appeared first on Burkland.

Account 182

Account accountant accounted 182

Bharmal&Associates

JANUARY 13, 2021

Did you miss out on the first two opportunities to receive your tax-free Paycheck Protection Program (PPP) cash? Many did miss out. Why? One reason: the word “loan.” Who wants a loan? No one. Well, almost no one. But who wants a cash gift, tax-free? If you do, read on for the details. But first, you should know that the big picture works like this: You obtain your PPP tax-free monies from a lender (it’s called a “loan,” but watch that word disappear as you read this letter).

payroll 147

payroll cpas Tax 147

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PYMNTS

JANUARY 11, 2021

Mexicans and Mexican-Americans working in the U.S. sent a record sum of money to the southern country despite the staggering blows the U.S. economy took due to the pandemic, The Wall Street Journal reported, citing data from Mexico's central bank. During the first 11 months of the year, people in the United States sent $36.9 billion to Mexico, WSJ reported, citing data released by the Banco de Mexico.

Agriculture 125

Agriculture Construction 125

RogerRossmeisl

JANUARY 11, 2021

The Treasury Department and Small Business Administration (SBA) have released Interim Final Rules (IFR) regarding the permission of “second draw loans” under the Paycheck Protection Program (PPP) recently authorized by the Consolidated Appropriations Act, 2021 (CAA 2021). BACKGROUND CARES Act The CARES Act provided the original legislation authorizing the Small Business Administration (SBA) to make loans to qualified businesses under certain circumstances.

payroll 198

payroll CPA cpa firm business tax 198

Bharmal&Associates

JANUARY 13, 2021

As you doubtlessly know, Congress recently passed a massive new stimulus bill that was enacted into law on December 27, 2020. Most of the public’s attention has been focused on the bill’s authorization of additional stimulus checks and new PPP loans and other aid targeted to struggling businesses. But Form 1040 American taxpayers who are not in business are struggling as well.

Tax 147

Tax income tax cpas Account 147

PYMNTS

JANUARY 14, 2021

Nike is suing 589 websites, the owners of 676 social media accounts and more than 100 unidentified companies and individuals for allegedly selling counterfeit versions of its Nike and Converse shoes online. Nike wrote in a lawsuit filed in the U.S. District Court for the Southern District of Manhattan that its trademarks “are among the most widely recognized trademarks in the United States and around the world, as well as among the most popular with consumers.

Manufacturing 123

Manufacturing New York Sales Account 123

RogerRossmeisl

JANUARY 15, 2021

A 1/13/2021 U.S. Treasury Department Press Release reported that the SBA is re-opening the Paycheck Protection Program (PPP) loan portal: to small lenders on 1/15/2021, and to all lenders on 1/19/2021. Background On 12/27/2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. Containing extensions and expansions of the PPP, it provides additional funding for what has been a popular provision with many small businesses included in the Coronavirus Aid, Relief and Economic

payroll 186

payroll CPA cpa firm business tax 186

ThomsonReuters

JANUARY 14, 2021

Proposed Rule – Amendments to Regulations Under the Americans With Disabilities Act, 29 CFR Part 1630, __ Fed. Reg. __ (__); Proposed Rule – Amendments to Regulations Under the Genetic Information Nondiscrimination Act of 2008, 29 CFR Part 1635, __Fed. Reg. __ (__). ADA. GINA. The EEOC has announced proposed regulations that would significantly change the wellness program incentives permitted under the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA)

Legal 80

Legal Tax Account accountant 80

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.

AccountingDepartment

JANUARY 15, 2021

As we’re already halfway through the first month of 2021, we thought it might be a good time to share our plans for the upcoming year. While some items are still to be revealed, we have a few exciting new releases for 2021 and our readers are officially the first to know!

Account 70

Account accountant accounted bookkeeping services 70

PYMNTS

JANUARY 11, 2021

Roblox , which operates an online gaming platform that spans millions of users and millions of variations of games or related interactions, plans to go public on the New York Stock Exchange via a direct listing in February, according to an SEC filing the company submitted. Roblox previously had planned to go public the usual way, allowing Wall Street investment bankers to find buyers for early blocks of shares before opening a stock to investors in the broader market.

Gaming 115

Gaming New York Education 115

RogerRossmeisl

JANUARY 15, 2021

A Procedural Notice has been released by the SBA to it’s employees, as well as PPP lenders related to First Draw PPP Loan increases. Under the Economic Aid Act (EAA) in the Consolidated Apportionment Act (CAA 2021), certain borrowers may request an increase under certain conditions: First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act, 1/13/2021 SBA Procedural Notice Control No. 5000-20076 Increase to a First Draw PPP Loan The Economic Aid Act (EAA

CPA 175

CPA cpa firm business tax Tax 175

KROST

JANUARY 14, 2021

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) as part of the Consolidated Appropriations Act, 2021 (the 2021 CAA) was signed into law on December 27, 2020. The CCA is a $2.3 trillion package that provides additional funding to the PPP program and includes several key provisions that will positively impact the real estate industry.

Real Estate 69

Real Estate CPA Hospitality Tax 69

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

Withum

JANUARY 14, 2021

George Washington was unanimously elected President when the Senate and House met for the first time on April 6, 1789 in New York, the nation’s first capital, to count the electoral votes.

Washington 66

Washington New York 66

PYMNTS

JANUARY 11, 2021

Amazon and Walmart are among the big retailers trying out a new way of handling refunds, according to a report from The Wall Street Journal (WSJ). Customers can ask for a refund, but they might not have to return the item even if they're granted one. The idea, which uses artificial intelligence (AI), is supposed to cut down on work and costs for the companies, which have seen an unprecedented surge in activity because of the pandemic.

Retail 112

Retail Sales 112

RogerRossmeisl

JANUARY 14, 2021

In IRS Tax Tip 2020-80, the IRS explained new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. Generally, payers must file Form 1099-NEC by January 31. For 2020 tax returns, the due date is February 1, 2021.

California 162

California tax return CPA Tax 162

KROST

JANUARY 13, 2021

These days, anybody who sells goods or provides services to somebody outside of their home state should ask themselves, “Do I need to collect sales tax?” The correct answer is always, “Good question!”. However, the best way to get a useful answer is to start with a concept closely related to sales tax, namely “use tax.” Use tax is just like sales tax, except that it is not collected by the seller of a good or service.

Sales 66

Sales Tax South Dakota tax return 66

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Technology

CapataCPA

JANUARY 12, 2021

PPP2 Application Forms Released After the new COVID-19 relief bill was signed into law on December 27, 2020, $284.5 billion became available to the second installment of the Paycheck Protection Program (PPP2) loans. $35 billion has been set aside specifically for those who are applying for a PPP loan for the first time, and another $15 billion has. The post PPP2 Application Forms Released appeared first on CPA firm in Orange County, CA | CAPATA.

cpa firm 59

cpa firm CPA tax planning Tax 59

PYMNTS

JANUARY 12, 2021

Salesforce is rolling out a new product to let B2C and B2B companies easily add loyalty programs at a time when the company says online holiday retail sales grew 50 percent to top $1 trillion. "Organizations with high levels of customer loyalty outperform their competition, so it's critical that they provide their customers with valuable and memorable experiences to build trust," David Schmaier , CEO of Salesforce Industries, said Tuesday (Jan. 12) in unveiling the company’s new Loyalty Manageme

Sales 111

Sales Sports B2C Retail 111

Withum

JANUARY 12, 2021

113

113

AccountingDepartment

JANUARY 13, 2021

Government 64

Government Account accountant accounted 64

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PYMNTS

JANUARY 15, 2021

Target crushed online commerce and reported decent in-store sales volume for the holidays, while Urban Outfitters and Nordstrom had weak in-store traffic that even fairly positive online volume couldn’t surmount. In retail technology, Toshiba Global Commerce Solutions ’ new Elera system aims to supplant in-store IT systems with a new cloud-enabled technology.

Technology 110

Technology Retail Sales 110

PYMNTS

JANUARY 15, 2021

Surviving the worst year in aviation history is, itself, an accomplishment. According to Delta Airlines CEO Ed Bastian, while pre-COVID volumes and travel practices may never fully return, the road to recovery has begun. The final destination, however, will be different, especially for the big-ticket business class segment. “All indications are [that] corporate travel is ready to start coming back, and will come back pretty aggressively beginning the second half of this year,” Bastian told analy

Florida 108

Florida New York 108

PYMNTS

JANUARY 15, 2021

The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. 15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). According to a statement from FinCEN , Capital One admitted to failing to implement and maintain an effective anti-money laundering (AML) program.

Gambling 107

Gambling New Jersey New York Tax 107

PYMNTS

JANUARY 12, 2021

These days, with the emergence of the cloud, open banking and application programming interfaces (APIs, the moniker “as-a-Service” applies to pretty much any business function that is now able to be outsourced to a third party. That includes Payments-as-a-Service (PaaS) in which providers help enterprises accept a range of transactions from their end customers — whether those end users (the ones actually paying and getting paid) are consumers or corporates.

B2B 104

B2B Technology Tax Retail 104

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Finance

PYMNTS

JANUARY 9, 2021

America did not have a good week. U.S. employers shed jobs last month for the first time since April, with 140,000 positions cut, according to the Associated Press – mostly in restaurants, bars, hotels and entertainment venues. COVID-19 is on the rise. And the tumultuous transfer of power currently stumbling gracelessly toward the finish line briefly erupted into a riot that left Congresspeople hiding in their offices and the Capitol building full of smashed windows.

Entertainment 100

Entertainment Louisiana Start-ups Gaming 100

PYMNTS

JANUARY 11, 2021

Buy now, pay later (BNPL) platform Affirm boosted the price range of its initial public offering (IPO), potentially raising $1.08 billion, according to a Monday (Jan. 11) filing with the Securities and Exchange Commission (SEC). The Silicon Valley startup is planning to offer 24.6 million shares of its common stock through the IPO, with a price range of $41 to $44 per share.

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96

PYMNTS

JANUARY 11, 2021

A California man has sued Robinhood Financial and Robinhood Securities, claiming he lost thousands of dollars after his brokerage account with the firm was breeched, according to a complaint. Siddharth Mehta, who filed the lawsuit in Superior Court for the state of California, is seeking class-action status in his case against the provider of low-fee brokerage services.

Account 96

Account accountant accounted California 96

PYMNTS

JANUARY 12, 2021

The lending industry was hit hard during the pandemic’s early months, with many banks and traditional lenders rapidly adjusting their standards and rates to accommodate businesses’ and consumers’ shifting needs. Demand among businesses — especially smaller firms — skyrocketed as they attempted to blunt revenue challenges and keep their operations above water, but these companies faced numerous hiccups when securing financing.

Finance 95

Finance Retail Technology 95

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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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