Sat.Aug 15, 2020 - Fri.Aug 21, 2020

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BYF CEO & Co-Founder, Hugh Duffy shares some big ideas for CPA marketing

BuildYourFirm

BYF CEO & Co-Founder, Hugh Duffy shares some big ideas for CPA marketing in his latest guest appearance on Geraldine Carter’s “Smart Strategy for CPAs” She Thinks Big Coaching podcast. SheThinksBigCoaching.com/096. [link] com/accounting-marketing- doesn’t-suck-hugh-duffy-build- your-firm/ . The post BYF CEO & Co-Founder, Hugh Duffy shares some big ideas for CPA marketing appeared first on Marketing Accounting Firms and CPAs.

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Report: $50B In Cryptocurrency Moved Out Of China

PYMNTS

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance

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Payroll Tax vs. Income Tax

Patriot Software

Tax withholding comes with the territory of being an employer. Employment taxes can be broken down into payroll taxes and income taxes. Most people use the terms interchangeably. But when you hear about a payroll tax deferral, you probably want to know the exact difference between payroll tax vs. income tax. Income tax vs. payroll […] READ MORE.

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How Skagit County area Businesses Get More Done With Less Time

SkagitCountyTaxServices

Would you shoot me a note? How are things going for your Skagit County area business right now? Doesn’t have to be long … just a little status update, is all. There might be some things we can do to help, if needed (or traps we can help you avoid if things are rolling along well). From what I’m seeing, the rolling, rippling economic effects of this virus and the lockdown/quarantine, etc.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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On-Demand Webinar: Understanding How Freight Network Engineering Leads to Profitable Trucking Operations

Katz,Sapper&Miller

The transportation industry has always operated in a cyclical manner, where prosperous times are followed by times which are not so lucrative. How can truckload carriers beat the market in all cycles to guarantee profitability and survival? That’s where a freight network strategy comes into play.

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Google Asks FCC For OK To Test 6G Service

PYMNTS

Google is asking the Federal Communications Commission (FCC) for permission to hold radio experiments “in and near the 6 GHz band,” according to a recent filing with the agency. The tech company said in the filing that it “proposes to conduct experimental propagation testing in the 6 GHz band to produce technical information relevant to the utility of these frequencies for providing reliable broadband connections.”.

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Does Your 401(k) Plan Need an Audit? A Closer Look at the 80-120 Rule

LSLCPAs

Generally speaking, 401(k) plans with fewer than 100 participants at the beginning of the plan year are considered small employee plans and eligible for the Small Plan Audit Waiver. However, the Department of Labor (DOL) has identified the range of 80 – 120 participants (at the beginning of the plan […]. The post Does Your 401(k) Plan Need an Audit?

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Carriers: The Importance of Tax Planning in Times of Uncertainty

Katz,Sapper&Miller

There are few things that can ruin a day as quickly as a call from your accountant with the news that you owe more than expected on an upcoming tax deadline. Thankfully, there is an alternative to tax deadline surprises. With thoughtful tax planning in the third and fourth quarters, transportation companies can take control of their tax liabilities, which is of utmost importance during times of financial or economic uncertainty, and is crucial as we weather the current pandemic.

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The Rise Of The Auto-Refill Economy

PYMNTS

The Commerce Department released July’s retail sales last week, showing an increase in seasonally adjusted retail spending – up 1.2 percent overall last month, but down from the 8.4 percent growth in June. Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 percent overall in a trailing 12-month period, and that businesses had mostly recovered all of the losses that had been incurred in the March-through-May lockdown.

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From Chaos to Clarity in Financial Investigations

FraudFiles

The financial part of a case can become overwhelming very quickly. Particularly in cases involving white collar crime, securities fraud, Ponzi schemes, or other fraud recoveries, the trail of financial documentation is often very long. A forensic accountant needs to examine the financial documents and piece together the evidence in a way that attorneys, judges, and juries can understand.

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How to Build the Ideal HR Team

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.

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Creating a More Efficient and Secure Practice Through Client Portals

CTP

Since sending clients their tax returns via email is not an option, accountants are searching for alternatives to email communicating and collaborating with clients. Client portals offer a secure alternative with added benefits. Many firms are experiencing significant time savings and increased office efficiency through the use of client portals. Not only does this help […].

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On-Demand Webinar: Organizational Assessments: The Key to Your Not-for-Profit's Success

Katz,Sapper&Miller

It’s common for employees to have annual reviews, but when was the last time your not-for-profit organization had one?

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Bitcoin Daily: China Expands Digital Cash Pilot; California Bill Defining Digital Assets Moves Forward

PYMNTS

China’s Ministry of Commerce is moving forward with its plan for a digital currency, according to a report by The Wall Street Journal (WSJ). The plan will come with a large number of cities in which to test the currency, including Beijing and the provinces Tianjin and Hebei in the north, the Yangtze River Delta to the south, and the Guangdong province and the neighboring cities of Hong Kong and Macau along the country’s prosperous southern coast, WSJ reported.

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Buffett’s Berkshire Hathaway Dumps US Bank Stocks For Gold

PYMNTS

Berkshire Hathaway ’s unloading of billions of dollars from bank stocks is exacerbating the hurt on the nation’s biggest financial institutions, Reuters reported. Warren Buffett, the company’s chairman and CEO, has sold shares of Wells Fargo and J.P. Morgan Chase and dropped an investment in Goldman Sachs. Based on its second quarter filing with the Securities and Exchange Commission, Reuters reported Berkshire reduced its Wells Fargo stake by 26 percent to 237.6 million shares, lowered its sta

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Planning Your Restaurant's Path to Profitability

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.

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AP Automation: The Three ‘P’s’ Of Standing Out In The Crowd

PYMNTS

With B2B payments being an increasingly attractive target for innovators, the landscape is growing crowded as more banks and FinTechs roll out their accounts payable (AP) automation solutions. The competition is undoubtedly heating up. According to Comdata ’s Senior Vice President of Product Tad Fordyce , there are several key areas where financial institutions (FIs) can focus to drive the most value for their corporate clients.

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GetMyBoat: Why Boat Rentals Are Making A Splash This Summer

PYMNTS

Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts. “We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro , chief operating officer of boat rental and charter marketplace GetMyBoat , told PYMNTS.

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IRS Sends Refund Interest Checks To 13.9 Million Taxpayers

PYMNTS

The U.S. Department of the Treasury and the IRS are planning to send out interest payments totaling $18 on average to 13.9 million Americans who filed their tax returns in the last few months, according to a press release. The interest payments are intended for those who made a tax filing by the deadline on July 15 and received a refund in the last three months or will receive one soon.

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Report: Installment Payments Newest Feature: Social Responsibility

PYMNTS

Engaging customers in socially responsible causes can help retailers build trust and develop lasting relationships that translate into many return visits. A recent study found that 47 percent of consumers around the world would be more inclined to trust businesses that support environmental or social causes they embrace, for example, while 53 percent said a business’s outreach in causes they support would make them more likely to endorse the firm’s goods or services.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Why Business Travel’s Wings May Be Clipped – Permanently

PYMNTS

For airlines, looking toward the future leads to a longing for the past. And though 2019 was, well, not all that long ago, it seems like a million years ago. Earnings season, as always, sheds light on what’s to come – and per commentary from the Delta airlines conference call to discuss second-quarter results, the company’s third-quarter revenue and flight capacity will be at roughly a quarter of last year’s, owing largely to the pandemic.

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Census Says eCommerce Sales Grew 44 Pct YOY – Why It Could Be Even More Than That

PYMNTS

There’s data and then there’s the story the data can tell — and sometimes the story you get is not the whole story. To that end, on Tuesday (Aug. 18th), the Department of Commerce’s U.S. Census Bureau reported that retail eCommerce sales for the second quarter, on an unadjusted basis, stood at $200.7 billion, up 37 percent sequentially, from the first quarter of the year.

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What’s Behind Apple One’s Bundled Subscription Move?

PYMNTS

The pandemic has made us a world populated by consumers – of content. And where the consumer’s appetite for the daily fix of movies, news, shoes and games only grows, the subscription economy is poised to grow in lockstep. In an interview with Karen Webster, Brian Bogosian , CEO at sticky.io , an integrated eCommerce subscription management and recurring billing platform, said that Apple’s continued push into subscriptions is only one example of the allure of subscription eCommerce, and where it

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Millions Of TikTok, Instagram, YouTube Profiles Breached

PYMNTS

A database of nearly a quarter-million YouTube, Instagram and TikTok public profiles that was held by a now-shuttered company called Deep Social has made its way onto the Dark Web, The Next Web reported on Thursday (Aug. 20). The news site attributed information about the data exposure to researcher Bob Diachenko of security firm Comparitech. A Wednesday (Aug. 19) report on news site Information Security stated, in part: “Diachenko first contacted Deep Social using the email address listed

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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HomeLight CEO On Residential Real Estate’s Contingency-Free Future

PYMNTS

The U.S. real estate market has spent the summer booming despite an economy hit hard by the pandemic. HomeLight CEO Drew Uher told Karen Webster that home sales have been pushed into high gear by incredibly low mortgage rates and a radical re-centering of people’s housing priorities amid shelter-in-place orders. “We’re basically seeing one of the most robust housing markets that we’ve ever seen,” Uher said.

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Walmart Drops New Walmart+ Clues

PYMNTS

Walmart ’s upcoming membership offering will provide inexpensive prices and quick deliveries to shoppers. The rollout of Walmart+ , which is forecasted to compete with Amazon Prime, has been highly anticipated, CNBC reported. “There has been a lot of buzz recently about membership at Walmart,” CEO Doug McMillon said on the company’s second quarter earnings call with analysts on Tuesday (Aug. 18).

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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

Digital dollars are a maybe – but if so, not for a while. And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

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New Report: How Behavioral Analytics Help FIs Block Fraud At The ITM

PYMNTS

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 billion by 2024.

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Recruit and Retain New Blue-Collar Talent

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.

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Citigroup Back To NY Federal Court Over $900M Error

PYMNTS

Citigroup Inc. returned to court Friday (Aug. 21). Reuters reported the New York-based multinational investment bank and financial services corporation filed its third suit in the U.S Southern District of New York Court to recoup $900 million it mistakenly sent to lenders of Revlon Inc. While many firms returned the money at Citi’s request, the bank said in court documents, a dozen have been sued after what the bank called an “operational error” caused it to transfer $900 million of its own fund

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TD Bank Ordered To Pay $122M In Overdraft Case

PYMNTS

The Consumer Finance Protection Bureau (CFPB) has settled with TD Bank in a case involving illegal overdraft practices, according to a court document. The bank will have to pay $122 million total to settle the case, including $97 million to customers affected and $25 million to the CFPB. TD Bank misled customers signing up for the Debit Card Advance (DCA) program for overdraft protection by failing to fully obtain their consent to do so and then charging them fees anyway.

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What Banks Need To Know About Corporates’ AR Digitization Journeys

PYMNTS

The coronavirus pandemic was an unanticipated disruption for every business, but for organizations that remain mired in paper, it became what Dave Robertson , managing director of payment advisory services at Deluxe , described as “the ultimate stress test.” “It really did challenge treasury groups and companies that were more manual and more reliant on paper,” he recently told PYMNTS.

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Just Eat Takeaway To End Gig Worker Model

PYMNTS

As courts force an end to the use of gig workers by Uber and Lyft in California, the CEO of Just Eat Takeaway said he will do it on his own. Jitse Groen , leader of one of the world’s largest food delivery platforms, told the BBC he intends to stop using the independent contractors at his European operations. “We’re a large multinational company with quite a lot of money, and we want to insure our people,” he told the news service.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.