Bharmal&Associates
JULY 23, 2020
Due to the COVID-19 pandemic, Congress made changes to the tax law related to retirement account distributions. The changes open up new, time-limited ways for you to save tax dollars. Congress waived all 2020 RMDs. But if you took your RMD before Congress made this change, you have two ways you can undo it: Use the expanded 60-day indirect rollover, if you qualify.
PANALITIX
JULY 21, 2020
WEBINAR. finding and Converting High Quality Leads – the Engine for Business Growth. ABOUT. Mark Ferris CHAIRMAN & CEO, PANALITIX. Mark Ferris is an entrepreneur who has founded, built and 'exited' numerous businesses realizing success for shareholders, employees, customers and acquirers. He has a particular interest in software, solutions and service businesses and frequently writes on related topics.
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PYMNTS
JULY 21, 2020
Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Crypto enthusiasts proclaim that you can front the best-known players like bitcoin or the most obscure blockchain-backed currencies circulating the world and tap into the future of money.
DentalAccounting
JULY 22, 2020
Medicaid and CHIP Dental Providers Now Eligible. The U.S. Department of Health and Human Services (HHS) will now allow dental practices that participate in the Medicaid and CHIP (Children’s Health Insurance Program) program to become eligible for the Provider Relief Program. The Provider Relief Program was established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) to reimburse eligible providers for healthcare-related expenses and lost revenues attributable to COVID-19.
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Katz,Sapper&Miller
JULY 23, 2020
“Inspiring great people to do great things” is Katz, Sapper & Miller’s mission, and we’re honored to play a small part in helping clients across a wide variety of industries think big, bring their innovative ideas to life, and serve their communities and customers.
RLLeaders
JULY 24, 2020
“What is a week-end?” As the humorous line in British series Downton Abbey reminds us, the Industrial Revolution brought about more than machines: it fundamentally altered how society perceived time on a mass level. Weekends came into existence. It was the start of clocking in and clocking out — of living by a clock with a degree of intensity the world had never seen.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Patriot Software
JULY 22, 2020
When your business grows, you may need to hire additional employees. But, hiring more employees comes with additional responsibilities. Depending on the number of employees you have and some other factors, you may be responsible for filing an EEO-1 report. So … what is EEO-1, anyways? What is an EEO-1 report? An EEO-1 report (equal […]. The post What Is the EEO-1 Report, and Which Employers Need to File it?
Katz,Sapper&Miller
JULY 22, 2020
The financial downturn caused by COVID-19 marks an abrupt end to one of the longest periods of consistent economic growth in U.S. history. In the span of just a few months, every decision has taken on much greater significance, and the margin for error has dwindled down to the thinnest of cushions. This environment is causing many businesses to take a close look at their accounting functions.
xendoo
JULY 20, 2020
Important Update. (Updated 4/24/20) On Thursday, April 23rd, the House approved a $484 billion package to help small businesses. This includes $310 billion for additional Paycheck Protection loans. The SBA has yet to re-open the application process. We will continue to update this post as we learn more. READ MORE HERE. One of the most talked-about benefits of the coronavirus CARES Act is the Paycheck Protection Program also known as PPP.
PYMNTS
JULY 22, 2020
Goldman Sachs has predicted that online shopping will expand by 19 percent each year during the next three years to come, which marks a rise from its past forecast of 16 percent. The firm said the acceleration was mainly fueled by quicker growth in the United States, Brazil, Western Europe and a good share of APAC, according to the Monday (July 20) report.
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.
Patriot Software
JULY 20, 2020
Failing to pay eligible employees overtime is a wage violation that lands a number of employers in hot water each year. But if you thought federal overtime laws were the end of it, you’re in for a surprise. There are also overtime laws by state you may need to follow. Should you follow federal or […]. The post Overtime Laws by State: The Quintessential Employer’s Guide appeared first on Patriot Software.
LSLCPAs
JULY 20, 2020
Three possible support levels are available to make accounting easier, decisions wiser, and the business owner happier. Quick! How much money do you have in the bank? This is not a trick question. For some business owners, the answer to the question is easy. We asked Andrew, a prospective […]. The post What Level of Outsourced Accounting Support Is Right for You?
xendoo
JULY 20, 2020
Important Update. As of 4/16/20, SBA is unable to accept new applications at this time for the Paycheck Protection Program based on available appropriations funding. READ MORE HERE. Loan Information. This loan is designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
PYMNTS
JULY 24, 2020
Megamalls are having mega problems. The two largest U.S. malls — Minnesota’s Mall of America and New Jersey’s American Dream mall — are struggling, with the company that owns both recently skipping a third straight payment on the Minnesota property. Located in Bloomington, Minn., the Mall of America features not only 500 stores, but also some 28 amusement-park rides, an aquarium and more.
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
Katz,Sapper&Miller
JULY 22, 2020
The income tax treatment of virtual currency (also known as cryptocurrency) transactions continues to evolve. There remains a great deal of uncertainty in the treatment, computations, and reporting of virtual currency transactions, despite the recent activity and guidance from the IRS.
PANALITIX
JULY 21, 2020
RESOURCES / ARTICLES. Content Marketing –. Distinguishing your Accounting Business. Ever been in a store where there are free samples available? Did you try them? Did you buy anything? Statistically, the answers to the above questions are probably, ‘Yes’, ‘Yes’ and ‘No’. That doesn’t mean the sampling campaigns were unsuccessful. For one thing, they got your attention and you sampled the product.
PYMNTS
JULY 21, 2020
Western Union has signed a deal with TrueMoney , a Philippines financial services provider, the global cross-currency money mover and payments company announced on Tuesday (July 21). Terms of the deal were not disclosed. The collaboration will allow customers to get cash at select TrueMoney locations identified by Western Union signs. The service will eventually be available at more than 5,000 locations in the Philippines.
PYMNTS
JULY 20, 2020
The payments program from messenger service WhatsApp will be allowed to go forward in Brazil, the country’s central bank said, so long as all rules are respected, Reuters reported. Brazil suspended services on the implementation of the new payment system last month, saying it was worried about the potential for monopolies to arise from the partnership between WhatsApp and large international companies like Visa and Mastercard.
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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.
PYMNTS
JULY 22, 2020
“People want to be able to pay however they want, including with cards, digital wallets, alternative payment methods and rewards points. Giving customers choice can drive sales and loyalty.”. It’s hard to argue with the statistics on payments preference. It’s even harder when those stats are provided by industry titan PayPal. They make a powerful point about choice.
PYMNTS
JULY 21, 2020
Capital One reported on Tuesday (July 21) that its credit card business shrank during the second quarter, but that delinquencies fell despite the pandemic. “The impacts of the COVID-19 pandemic drove second-quarter results across all of our business segments,” Richard Fairbank , Capital One’s founder, chairman and CEO, said in an earnings call with analysts.
PYMNTS
JULY 21, 2020
Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. The European Union’s financial authorities are monitoring how the pandemic may be affecting banks’ and FinTechs’ compliance with rules such as the General Data Protection Regulation (GDPR) and the revised Payment Services Directive (PSD2), for example.
PYMNTS
JULY 20, 2020
U.K. small and medium-sized business (SMB)-focused bank Tide said it has a new relationship with Mastercard that makes Tide one of the card company’s principal issuers, Finextra reported Monday (July 20). “Entering a strategic partnership with Mastercard and becoming a principal card issuer is an extremely exciting step for Tide,” Tide CEO Oliver Prill said in a prepared statement, according to the report.
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PYMNTS
JULY 22, 2020
Among the value propositions for real-time processing is to improve liquidity while reducing transactional overhead. Yet for many entities, the concept of implementing real-time processing across an entire system can feel overwhelming complex. As real-time payment infrastructure grows more sophisticated, technology presents an opportunity for organizations to mitigate the adoption hurdle.
PYMNTS
JULY 24, 2020
When Indochino launched in 2007, the company wasn’t out to create a new template for the entire retail sector, just a better product with better prices and a better buying experience. But four months into a pandemic that has turned the traditional retail business model inside out, the company looks like it could teach all of retailing a new paradigm — a showroom model with little inventory and appointment-only viewing.
PYMNTS
JULY 23, 2020
Berkshire Hathaway , the Warren Buffett-helmed conglomerate that owns Geico , upped its stake in Bank of America (BoA) by over $800 million, in what the Financial Times (FT) reported is a vote of confidence in the lagging U.S. banking sphere. Berkshire purchased 34 million shares in BoA, which is a 4 percent increase of its holding in the company, FT reported.
PYMNTS
JULY 22, 2020
Financial institutions (FIs) are beginning to see the light at the end of the tunnel for bouncing back from the pandemic, but the crisis has not been without its casualties. Banks have been forced to reduce or suspend in-branch activities to prevent the risk of infection at branches at least temporarily. The largest bank in the United States, J.P. Morgan Chase , closed 1,000 branches for awhile, and Citigroup temporarily shut down 100 branches.
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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
JULY 22, 2020
With the buy now, pay later (BNPL) movement on the rise, Affirm will be working with Shopify so its U.S. merchants can offer a BNPL payment option to their customers, the two companies said in a release. Affirm’s program essentially provides buyers of a wide range of products with a short-term loan that can be repaid through regular installments. The companies said the Shopify BNPL product, which is entering a testing phase, will be called Shop Pay Installments.
PYMNTS
JULY 19, 2020
Equity crowdfunding program Equifund CFP is launching a Regulation Crowfunding offering to help cannabis tech company Drop Delivery raise money for its all-in-one delivery system for cannabis products, according to a press release. Drop Delivery is touted as the first all-in-one system for cannabis retailers to use for developing a business in a safe and compliant manner.
PYMNTS
JULY 24, 2020
Hundreds of thousands of Instacart customers are having their personal data sold on the dark web, including the last four digits of their credit cards, and the data could include people who used the popular delivery app as recently as this week, according to a BuzzFeed News report. There were sellers offering data from what could have been 278,531 accounts, although some may have been duplicates or fake, the report noted.
PYMNTS
JULY 23, 2020
The pandemic has exposed extreme vulnerabilities in today’s economy where six in 10 Americans live paycheck to paycheck. In an interview with PYMNTS, Warren Perlman , chief information officer at global human capital management company Ceridian , said allowing individuals access to their wages in real time — as those wages are earned — could brighten the economic landscape and boost financial wellness considerably.
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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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