PANALITIX
JANUARY 5, 2021
RESOURCES / ARTICLES. Do Your Clients. Need a CFO in 2021? Do your clients need a CFO in 2021? Some of your clients already have one and he/she may be performing brilliantly. Others will not have any strategic financial support… which is a huge opportunity for accountants. How should accountants pursue this opportunity? Establishing credibility is a starting point.
TaxConnex
JANUARY 5, 2021
As if sales tax nexus and taxability rules weren’t confusing enough, throw in marketplace facilitators and drop shipments and it’s easy for a business of any size to want to give up on sales tax compliance. Understanding who owns the obligations when it comes to drop shipments is often confusing and involves knowledge of the nexus footprint of the business making the sale to the end-user as well as the nexus footprint of the drop shipper.
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SingleTrackAccounting
JANUARY 5, 2021
A new year means a fresh start. With 2020 in our rearview mirror, it’s time to reflect on all the things we have learned and to start fresh for planning for the future. Let’s be grateful for how we have grown as people and as business owners over the past year. There’s no doubt we have learned a whole lot and we are stronger for it. Now is the time to take what we have learned and create a fresh start. .
RogerRossmeisl
JANUARY 6, 2021
The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. Business meal deduction increased The new law includes a provision that removes the 50% limit on deducting business meals provided by restaurants and makes those meals fully deductible.
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MyIRSRelief
JANUARY 8, 2021
Americans living abroad, expatriates, are not immune from having to pay US Federal Income Tax and even some states do as well. Unfortunately, there are some people who mistakenly think that as soon as they leave the United States that they are no longer responsible for paying taxes. They soon discover that is not the case when they receive a letter from the IRS stating that they are delinquent on filing their taxes.
TaxConnex
JANUARY 7, 2021
If you were to read our 5 Steps to Sales Tax Compliance, or any guide on maintaining sales tax compliance, understanding the taxability of your products and/or services would be one of the first steps. Taxability could be a simple analysis if you sell widgets as tangible personal property (TPP) is taxable unless specifically stated otherwise. Taxability becomes confusing with software which tends to have varying tax rules from state-to-state.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
JANUARY 6, 2021
In Mexico, the pandemic is moving the needle toward digital payments — specifically mobile payments — to become more widely embraced by businesses and consumers alike. Slowly. In an interview with PYMNTS' Karen Webster, Miguel Diaz , general director of payment systems and market infrastructures at the Central Bank of Mexico (Banxico), said that making and receiving payments across devices in an affordable manner, with faster payments infrastructure already in place, means that “every Mexican
Withum
JANUARY 7, 2021
Here are additional charts with comparisons of the three major stock indexes where I show the top 10 components of each index and the percentage of each stock you will own if equal amounts are invested in funds comprised of each of those indexes, and of the sectors they comprise. Also is a chart showing the 30 components of the Dow Jones Industrial Average and the relative weights of each stock.
ThomsonReuters
JANUARY 7, 2021
QUESTION: What is “transparency in coverage” cost-sharing disclosure, and does it apply to our company’s group health plan? ANSWER: “Transparency in coverage” refers to an Affordable Care Act provision that requires health plans and insurers to disclose certain cost-sharing information to participants, beneficiaries, enrollees, and, in some cases, the public.
SkagitCountyTaxServices
JANUARY 6, 2021
Wow, does it ever feel good to have turned the page on 2020. This first “working week” is when I finally began to feel the newness of it all. Yes, it’s “just a date” on a Gregorian calendar, but … 2021 holds great promise for our Mount Vernon business clients. With the potential of easing lockdowns in our future (assuming that the vaccine and other developments will enable a further re-opening of society), and with the extensions of the PPP and other very nice
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.
PYMNTS
JANUARY 8, 2021
Robinhood is considering selling shares directly to its users if it opts to hold an initial public offering (IPO). The FinTech group is reportedly mulling setting aside a significant number of shares for users if it goes public, but it has yet to make any final decisions, according to Bloomberg, who cited unnamed sources. Bloomberg notes that such an offering would be unusual, as retail investors generally do not get an opportunity to participate in an IPO at the offering price.
Withum
JANUARY 4, 2021
These charts continue an annual tradition of charts that I use when I assist clients with their financial planning. The charts show the 10-year annual and cumulative percentage gains or losses of the major stock market indexes, interest rates, currencies and gold.
RLLeaders
JANUARY 4, 2021
John Rogers and Aidan McCullen: In business, government, and every area of contemporary life, leaders today are struggling to find workable solutions to greater and more complex challenges. As a former senior Pentagon official and CEO of a billion-dollar company, our guest has seen firsthand that the current model for solving diverse problem sets no longer works.
Katz,Sapper&Miller
JANUARY 6, 2021
We at Katz, Sapper & Miller are pleased to announce our two newest partners, Troy Hogan and Ben Lyon. Committed to helping their clients achieve their vision for their businesses, both Troy and Ben provide deep technical expertise, innovative solutions, and superior client service. In short, they exemplify KSM’s values. We are grateful to have Troy and Ben on our team and congratulate them on this outstanding achievement.
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
PYMNTS
JANUARY 7, 2021
For the travel industry, there is light at the end of the tunnel. Vaccines against COVID-19 are (slowly) being rolled out. And while it will take a while to return to any semblance of normal, cruise ships and airlines will at some point once again bustle with travelers journeying for business and pleasure. But no matter where crowds gather, it’s likely that some things will change.
ThomsonReuters
JANUARY 7, 2021
The appropriations and COVID-19 relief legislation passed by Congress in December 2020 has been signed into law by the President. The new law includes a variety of provisions affecting employer-sponsored benefit plans—some relating to the COVID-19 public health emergency and others with broader applicability. For more information, see our previous Checkpoint article.
RitaKeller
JANUARY 6, 2021
“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan. I have heard Sam Allred, Founder of Upstream Academy , speak numerous times during my many years working in public accounting and it has always been inspiring. At a CPAFMA conference several years ago, Allred shared his Six Things Leaders Need to Do.
KROST
JANUARY 6, 2021
Jean Hagan ( Principal, Restaurant / Business Management ) and Paren Knadjian ( Practice Leader, M&A, and Capital Markets, PPP Forgiveness ) are hosting a free webinar with Kristi Turner, CMO of Compeat Restaurant Management Software , on the PPP Second Draw Program. Join our restaurant accounting and consulting experts on Wednesday, January 13th at 1PM CT as they provide an in-depth look at the Paycheck Protection Program Second Round and what that means for restaurant owners and operators
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PYMNTS
JANUARY 8, 2021
Whether it was helping small businesses get their PPP payments or convert to eCommerce, getting cash in the hands of workers delivering food, or accommodating digitized mortgage closing and escrow activity, the coronavirus has foisted a lot of change on the financial services industry in a short amount of time. “A lot of what the pandemic did was force our industry to truly be digital, to facilitate frictionless transactions,” TCH Senior Vice President Elena Whisler said in a recent conversation
ThomsonReuters
JANUARY 7, 2021
IRS Notice 2021-07 (Jan. 4, 2021). Available at [link]. The IRS has announced temporary COVID-19-related 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. In general, employers using the automobile lease valuation rule must start using it on the first day the automobile is made available to an employee for personal use and for all subsequent years (the commuting valuation rule may
LyfeAccounting
JANUARY 7, 2021
?. Government spending represents over ? of ALL spending in the United States. And it’s expected to continue to increase as the years go by. But where is this money actually going? Who is profiting from government spending? Government contractors. According to GovExec, Federal Contract spending was expected to exceed over $600 billion over 2020. That’s a lot of money going into the hands of businesses that are set-up to get government contracts.
Katz,Sapper&Miller
JANUARY 7, 2021
On Dec. 27, 2020, the president signed into law the Consolidated Appropriations Act, 2021. This massive piece of legislation includes a $900 billon COVID-19 relief package that provides additional assistance for small businesses, extends unemployment insurance benefits, delivers stimulus checks to individuals, and extends and expands several existing tax provisions.
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PYMNTS
JANUARY 7, 2021
Customers of Simple Bank are receiving emails telling them the bank is closing and that the intent is to transfer them to BBVA , a report from Talk Android says. After Simple Bank launched as an online bank specializing in high-interest savings accounts, the current economic climate ended up making it unfeasible. So BBVA pulled the plug. Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now
ThomsonReuters
JANUARY 7, 2021
DOL Webpage: Families First Coronavirus Response Act: Questions and Answers. Available at: [link]. The DOL has posted new FAQs 104 and 105, addressing the recent expiration of the Families First Coronavirus Response Act (FFCRA) paid leave provisions. As background, the FFCRA required certain employers to provide paid sick leave and emergency childcare leave for specified reasons related to COVID-19 (see our Checkpoint article ).
KROST
JANUARY 8, 2021
Jean Hagan ( Principal, Restaurant / Business Management ) and Paren Knadjian ( Practice Leader, M&A, and Capital Markets, PPP Forgiveness ) are hosting a free webinar with the California Restaurant Association (CRA) , on the PPP Second Draw Program. Join our restaurant accounting and consulting experts on Thursday, January 14th at 10AM PT as they provide an in-depth look at the Paycheck Protection Program Second Round and what that means for restaurant owners and operators.
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Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.
PYMNTS
JANUARY 7, 2021
Bitcoin hit more than $37,700, a new record high that helped drive the cryptocurrency market beyond $1 trillion, CNBC reported on Thursday (Jan. 7), citing data from CoinDesk and CoinMarketCap. At about 2:42 p.m. Singapore time, bitcoin was up 5 percent over the day before. Since the start of 2021, the cryptocurrency market is up 29 percent, and in the past 12 months, it is more than 380 percent higher.
ThomsonReuters
JANUARY 7, 2021
Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees, 85 Fed. Reg. 82798 (Dec. 18, 2020). PTE 2020-02. Fact Sheet. The DOL has finalized its prohibited transaction exemption (PTE) allowing investment advice fiduciaries to receive reasonable compensation and engage in certain principal transactions, including as part of a rollover to an IRA.
FusionCPA
JANUARY 7, 2021
In January 2021, it will be 10 years since Fusion CPA opened its doors and we're reflecting on our journey so far. We have learned valuable lessons along the way and have garnered perspective with time. I am Trevor McCandless , CEO of Fusion CPA. If you talk to the people who know me the best, they will tell you I am an avid reader. I feel that there is power in learning from those who came before you.
CapataCPA
JANUARY 7, 2021
California Passes Proposition 19Proposition 19 was recently passed in California and will affect properties that you want to pass down to your children. It is important to know that Prop 19 will only affect the property taxes and reassessments of the property; it will not take away the step up in basis for inherited properties. The post California Passes Proposition 19 appeared first on CPA firm in Orange County, CA | CAPATA.
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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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