TaxConnex
NOVEMBER 5, 2020
This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Whether you manage it all internally, work with a CPA, or use an outsourced provider or technology, you know that there are many moving parts.
RogerRossmeisl
NOVEMBER 5, 2020
Are you having difficulties understanding the passive activity rules? Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by them in excess of their income. You can’t deduct the excess expenses (losses) against earned income or against other nonpassive income.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
TaxConnex
NOVEMBER 3, 2020
There’s always something changing or new going on in the world of tax, especially sales tax. Here’s a review of some of the changes and updates that were announced in the last few months. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. 1. Arizona’s threshold for Transaction Privilege Tax (TPT) e-filing and paying lowers to $500 as of Jan. 1, 2021.
SMBAccountant
NOVEMBER 4, 2020
When operating a small business, sometimes it is easy to avoid administrative tasks that seem unnecessary for a business of your size, such as implementing a total quality management plan. Though it may feel excessive in the beginning, that is exactly when you want to start! It is much easier to build a program as you grow rather than try to implement one later.
Advertiser: Paycor
HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.
PANALITIX
OCTOBER 31, 2020
RESOURCES / ARTICLES. The Important Role Of Accountants As “Facilitators”. (And Getting Paid For It). Panalitix is working with a client located in the South Eastern United States. The firm has grown rapidly and serves many business clients, including some with revenues in excess of $5 million. The owner of one of their larger clients (let’s call him “the Seller”) plans to sell the business to his son (let’s call him “the Buyer”) in the next year.
RogerRossmeisl
NOVEMBER 1, 2020
IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. Here’s how to survive an IRS audit. In fiscal year 2019, the IRS audited approximately 0.4% of individuals. Businesses, large corporations and high-income individuals are more likely to be audited but, overall, all types of audits are being conducted less frequently than they
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Withum
NOVEMBER 4, 2020
A frequent question I get from clients that want to sell their business is “What can I expect to net from selling my business?” That’s a good question, but a better question might be “What cash flow can I expect from what I net from selling my business?”.
FusionCPA
NOVEMBER 2, 2020
You need to be careful when it comes to your real estate investment firm accounting. The way that you do your real estate investment firm bookkeeping either hinders or allows you to analyze your business’s financial health. If you are not experienced in bookkeeping or using real estate CPAs , it is recommended that you spend a great deal of time becoming familiar with the capabilities of your QuickBooks Online account before you get started.
RogerRossmeisl
NOVEMBER 6, 2020
October 15 was the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) Now that you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done? Now is a good time to go through old tax records and see what you can discard.
PYMNTS
NOVEMBER 5, 2020
The U.S. Department of Justice sued Visa on Thursday (Nov. 5) to block its planned $5.3 billion acquisition of Plaid, arguing that the deal would allow Visa to extend what the DOJ alleges is the company's control of the online debt market. “Visa seeks to buy Plaid — as its CEO said — as an ‘insurance policy’ to neutralize a ‘threat to our important US debit business,’” the Justice Department said in its lawsuit, filed in San Francisco federal court.
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.
Withum
NOVEMBER 3, 2020
Today we vote (or finalize the voting) for the members of the Electoral College who are pledged to follow the popular vote for President and Vice President in their state. The winner of the popular vote in each state determines who gets all of that state’s votes regardless of the closeness of the vote; there is no splitting of the electoral votes.
Katz,Sapper&Miller
NOVEMBER 3, 2020
As the Paycheck Protection Program has evolved, borrowers have become increasingly anxious as program parameters have seemingly changed mid-stride. With its recent introduction of the loan necessity questionnaires, the U.S. Small Business Administration continues to surprise borrowers with new requirements after loans have been issued.
RogerRossmeisl
NOVEMBER 1, 2020
If you file a joint tax return with your spouse, you should be aware of your individual liability. And if you’re getting divorced, you should know that there may be relief available if the IRS comes after you for certain past-due taxes. so-called innocent spouse tax liability relief. What’s “joint and several” liability? When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full tax amount on the couple’s combined income.
PYMNTS
NOVEMBER 3, 2020
There’s no shortage of pain points to catalog from the past six months: A global pandemic, worldwide economic disruption, record-breaking unemployment, an invasion by murder hornets — the hits never seem to stop. But the running theme through all of the frustration that 2020 has created is uncertainty and the feeling that one never quite knows what’s going to happen next.
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
NOVEMBER 5, 2020
Final Rule: Financial Factors in Selecting Plan Investments, 29 CFR Parts 2509 and 2550, 85 Fed. Reg. __ ( __, 2020). Final Rule. DOL Fact Sheet. DOL News Release. The DOL has released the final version of its amended rules regarding the investment duties of ERISA plan fiduciaries. The amended rules respond to growth in the market for investments that consider environmental, social, corporate governance (ESG), and similar nonfinancial factors.
AccountingDepartment
NOVEMBER 3, 2020
We often hear prospective clients come to us explaining they are in need of clean financials. Interestingly, this is not a technical term—but its use is so widespread that it often seems to be. So we sat down with AccountingDepartment.com’s Senior Implementation Controller, Jennie Hoffman, CPA to discuss what she thinks clients really mean when they say clean financials—and what they should actually be asking for instead.
Withum
NOVEMBER 3, 2020
Today we vote (or finalize the voting) for the members of the Electoral College who are pledged to follow the popular vote for President and Vice President in their state. The winner of the popular vote in each state determines who gets all of that state’s votes regardless of the closeness of the vote; there is no splitting of the electoral votes.
PYMNTS
NOVEMBER 4, 2020
From concept to pilot to corporate payment game changer. Umar Farooq , CEO of J.P. Morgan ’s Onyx , told Karen Webster that peer-to-peer (P2P) private blockchain networks can help streamline information flows tied to cross-border payments and remove the complexities tied to legacy systems. The conversation took place against the backdrop where, late last month, J.P.
Advertisement
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.
Katz,Sapper&Miller
NOVEMBER 2, 2020
Missed charges are an unfortunate fact of life at veterinary practices. Even if they have the best of intentions, few hospitals can claim a 100% capture rate. Billing mistakes are guaranteed to happen from time to time. But what makes missed charges such an insidious problem is how easy it is to underestimate the scope.
SkagitCountyTaxServices
NOVEMBER 4, 2020
Apparently there’s some news happening around us in Skagit County these days. I often use this space to share Mount Vernon-specific, detailed information about PPP forgiveness, tax code updates, leadership and marketing strategy, expense reduction, and more — all essential topics for business owners and their teams here in Skagit County, and beyond.
ThomsonReuters
NOVEMBER 5, 2020
IRS Information Letter 2020-0023 (July 30, 2020). Available at [link]. The IRS has released an information letter responding to an inquiry regarding unused amounts in a participant’s dependent care assistance program (DCAP) (also referred to as a dependent care flexible spending arrangement) because her children’s summer camp was closed due to COVID-19.
PYMNTS
NOVEMBER 3, 2020
In today’s top news in digital-first banking, digital payments network Zelle crossed over the one-billion transaction mark, while China’s tests of a digital yuan have processed over four million transactions. Plus, Bloomberg clients will now have the capacity to use the company’s terminal to look at Credit Benchmark’s risk data. Zelle Says P2P Payments Top One Billion Transactions.
Advertiser: Paycor
Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.
FraudFiles
NOVEMBER 5, 2020
Are you a CPA who wants to become an expert witness? Lawyers are always on the lookout for financial experts who can help them win cases. Virtually all civil suits involve issues about money, and a certified public accountant is one of the best resources for sorting out the financial details. As a CPA, you don’t have to focus on litigation work to become an expert witness.
SchoolofBookkeeping
NOVEMBER 4, 2020
Reconciliation is one of a Bookkeeper’s main tasks. After all, reconciliation confirms that what is in QuickBooks is what is in the bank. A reconciliation is where bookkeeping issues are going to rise to the surface. Here is where you. Read More. The post Reconciliation and the Opening Balance – A Fundamental Truth appeared first on schoolofbookkeeping.com - Ignite Your Practice!
ThomsonReuters
NOVEMBER 5, 2020
Final Rule: Transparency in Coverage, 26 CFR Part 54, 29 CFR Part 2590, 45 CFR Parts 147 and 158, 85 Fed. Reg. __ (Nov. 12, 2020). Final Rule. HHS Fact Sheet. HHS News Release. The IRS, DOL, and HHS have jointly issued final regulations that require most group health plans and insurers to make certain disclosures to participants, beneficiaries, enrollees, and, in some cases, the public.
PYMNTS
NOVEMBER 4, 2020
California voters passed Proposition 22, which exempts tech platforms like Uber, Lyft, and DoorDash from state law AB 5, which forced them to reclassify gig workers as employees, according to a Wall Street Journal report on Wednesday (Nov. 4). The three app-based tech companies were joined by Postmates and Instacart in the financial support of Proposition 22, which upholds the independent contractor status for gig economy workers.
Advertisement
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.
Katz,Sapper&Miller
NOVEMBER 4, 2020
Zach Sauder has received the Foellinger Foundation’s 2020 David A. Bobilya Excellence in Nonprofit Leadership Award. The award recognizes the importance of individual board members in nonprofit organizations in four focus areas—governance, leadership, financial sustainability, and program impact.
FraudFiles
NOVEMBER 3, 2020
The most interesting cases I work are criminal cases for defendants accused of financial crimes such as money laundering, tax fraud, bribery and corruption, embezzlement, and investment fraud. I do my best work as a forensic accountant and fraud investigator in cases in which a trail of money must be followed through a complex web of people, entities, and bank accounts.
ThomsonReuters
NOVEMBER 5, 2020
Interim Final Rule: Additional Policy and Regulatory Revisions in Response to the COVID-19 Public Health Emergency, 26 CFR Part 54; 29 CFR Part 2590; 31 CFR Part 33; 42 CFR Parts 410, 411, 414, 417, 433, and 510; 45 CFR Parts 147, 155, and 182; 85 Fed. Reg. _ (Nov. 6, 2020). Interim Final Rule. HHS Fact Sheet. HHS News Release. The IRS, DOL, and HHS have issued interim final regulations addressing (among other things) group health plan coverage of COVID-19 vaccines and testing.
PYMNTS
NOVEMBER 4, 2020
India's Tradologie is looking to make the country a "self-reliant and self-sustaining powerhouse" through a B2B platform that facilitates uninterrupted trade for both local and foreign parties. According to a press release , the company is revamping the usual B2B processes by cutting the costs of commodities for the buyer in real time, so "more gets done in less time while using fewer resources," which has the effect of making the price visible while the deal is still on.
Advertisement
"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.
Expert insights. Personalized for you.
223 
Let's personalize your content