Sat.Jul 10, 2021 - Fri.Jul 16, 2021

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Preventing Ransomware Attacks on Manufacturers

RogerRossmeisl

The world’s largest meat production company was recently sidelined by a ransomware attack. The hack forced the company to temporarily shutter plants in the United States, Canada and Australia, affecting the U.S. meat supply and even hurting commodity prices. If it seems like cybercriminals often target manufacturing (including food processing) and distribution companies, that’s because they do.

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3 Strategies to Scale Beyond Your 7-Figure Consulting Business

GrowthForceBlog

6 min read. You've hit 7-figures in your consulting firm — a major milestone! As your consulting firm stands now, you're only able to do so much with the resources you currently have built into your business model.

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5 Financial Tips All Business Owners Should Know

MazumaBusinessAccounting

Running your own business is rewarding, but it can also be overwhelming. There are dozens of administrative tasks to keep tabs on besides your day-to-day work. I’ve been there, and I’ve felt that nagging feeling that I am letting something important slip through the cracks. That’s why I wanted to put together these tips to help you stay on top of your finances while growing a successful business. 1.

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TaxConnex Launches New Website

TaxConnex

We are very excited to announce the launch of our newly designed website. Visit us at www.taxconnex.com to check it out! After several months of hard work and dedication, we are delighted to officially announce the launch of our newly designed website. We wanted to make the new website faster, easier to navigate, and more informative , and we believe this new site achieves all these things!

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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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Fraudsters Prefer Cash Because It’s Virtually Untraceable

RogerRossmeisl

Fraud perpetrators take whatever they can get their hands on. But fraudsters prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise and tools to trace even cash-based theft. Multiple opportunities According to the Association of Certified Fraud Examiners, there are three main categories of cash fraud, which includes checks because they’re easily converted to cash: theft of cash on hand, theft of cash receipts, and fraudulent disbursements.

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Sales Tax on SaaS: A Checklist & State-By-State Guide for Startups

BurklandAssociates

By now you have probably heard of the 2018 U.S. Supreme Court ruling in South Dakota v. Wayfair (“Wayfair”), which granted all 50 states the ability to reach out to Read More. The post Sales Tax on SaaS: A Checklist & State-By-State Guide for Startups appeared first on Burkland.

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Monthly Sales and Use Tax Update

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates that occurred over the last month. Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales.

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Hire Your Minor Children for Tax and Non-Tax Benefits

RogerRossmeisl

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other non-tax benefits. The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you may be able to: Shift your high-taxed income into tax-free or low-taxed income, Realize payroll tax savings (depending on the child’s age and how your business is organized), and Enable retirement plan contributions for the children.

Tax 246
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Your Meetings Are Costing You More Thank You Think: Lessons to Increase Productivity and Profitability

GrowthForceBlog

7 min read. We've all been in meetings where no one contributes, no one takes anything away, and everyone leaves feeling a little less vibrant, having been drained of time and energy. This type of meeting is costly- and your bottom line takes the hit.

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Try To Remember How You Felt When The Market Tanked Last Year

Withum

Most people I speak to have faint memories of last year’s stock market drop. The resulting increase created that memory lapse. Question: How did you feel when the market dropped?

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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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What Is the “Continuity of Care” Mandate for Group Health Plans?

ThomsonReuters

QUESTION: We have heard from our company’s group health plan insurer that our plan must continue covering certain patients who are undergoing treatment when we change our contractual relationship with their provider. What are the rules, and when do they apply? ANSWER: The surprise medical billing legislation passed in December 2020 (see our Checkpoint article ) included a new patient protection mandate referred to as “continuity of care” that applies when a provider ceases to be an in-network

Tax 98
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Advance Child Tax Credit Payments Begin July 15th

RogerRossmeisl

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child tax credits changed? The ARPA temporarily expanded and made CTCs refundable for 2021.

Tax 246
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Top 7 Requirements to Secure Ecommerce Funding (Hint: They’re Not What You Think)

xendoo

In the past, online sellers often had to dig into their own pockets to fund their eCommerce business dreams. . Since small or growing businesses are technically high-risk investments, banks and other financial institutions were reluctant to part with their cash to help eCommerce sellers. . But times have changed. . Today, there is a growing number of funding options eCommerce entrepreneurs can tap into to make even their biggest, hairiest goals reality.

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Navigating Changes to the 2021 Dependent Care Credit

CTP

The Dependent Care Credit is available to taxpayers who pay someone else to care for a dependent under age 13 or to care for a spouse or dependent who is unable to care for themselves. The goal of the credit is to help subsidize dependent care expenses so the taxpayer is able to work or […]. The post Navigating Changes to the 2021 Dependent Care Credit appeared first on certifiedtaxcoach.

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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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Neither Stop-Loss Coverage Nor Other Insured Benefits Cause Self-Insured Health Plan to Be Considered Insured

ThomsonReuters

Hua v. Board of Trustees, 2021 WL 2190906 (D. N.J. 2021). A participant in a union- and employer-sponsored self-insured group health plan was injured in an accident and sued the other parties involved. The plan administrator asserted its right, under the terms of the plan, to be reimbursed for the participant’s accident-related medical expenses (paid by the plan) out of any recovery.

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Revisiting the Employee Retention Tax Credit

RogerRossmeisl

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules for businesses that have considered revisiting the Employee Retention Tax Credit. Background Back in March of 2020, Congress originally enacted the ERTC in the CARES Act to encourage employers to hire and retain employees during the pandemic.

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Money Secrets of the Rich and Famous…and What You Can Learn from Them

Withum

Thursday I am presenting a webinar for the East Brunswick Public Library titled Money $ecrets of the Rich and Famous…and what you can learn from them. It is free and I guarantee you will enjoy it and will learn about some “insider” financial planning tips.

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Get the Scoop on the Washington Cares Fund

Patriot Software

If you’re an employer with employees in Washington, listen up. Starting in 2022, you need to make an additional deduction from Washington workers’ paychecks for the Washington Cares Fund. But, what is the Washington Cares Fund, and how much do you have to deduct and remit? Get all of the answers about the new program […] READ MORE.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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IRS Information Letters Address Substantiation Rules for Health FSA Debit Card Programs

ThomsonReuters

IRS Information Letters 2021-0003 (Dec. 14, 2020) and 2021-0013 (Apr. 27, 2021). Letter 2021-0003. Letter 2021-0013. The IRS has released two information letters that address the substantiation rules for health FSA debit card programs. One letter responds to an inquiry on behalf of an individual whose card was deactivated for failure to provide requested documentation to substantiate expenses paid with a health FSA debit card.

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Bank Reconciliation: What It Is and Why It’s Important For Your Small Business

xendoo

Bank reconciliation is a task that sounds boring even before you know exactly what it is. As a business owner who already has too many tasks and not enough time, it’s easy enough to just take a pass on something that sounds so dull. . Unfortunately, skipping out on bank reconciliation is not something you can afford to do. With this post, we’d like to give you a quick introduction to the concept of bank reconciliation and why it’s an essential part of your ongoing accounting and bookkeeping acti

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Maintaining Productivity While Working from Home

AccountingDepartment

Working from home has many perks, but a few challenges are attached to it as well. Staying productive is the most important thing a remote employee can sometimes struggle with. As a fully remote company, all of our employees work from the comfort of their own homes, so we’ve laid out a few pointers to help battle the productivity struggle and knock out that task list of work on a daily basis.

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Want To Increase Your Profit Margins? Use This Sales Commission Model.

GrowthForceBlog

6 min read. We don’t need to tell you that your business depends on sales, and you must find ways to continuously motivate your sales force.

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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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How to Make More Money With Artificial Intelligence

inDinero Accounting

Artificial intelligence (AI) brought us Apple’s Siri. Today, we can get the answer by speaking one name. AI is in marketing and sales, manufacturing, product and service development, and corporate finance and accounting. AI is behind many business functions, but does AI function as a revenue driver for your company? The latest McKinsey Global Survey , “ The State of AI in 2020 ,” asked 2,395 participants from various company backgrounds and industries about how well AI does for their business.

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Learn From History

RitaKeller

“Always bear in mind that your own resolution to succeed is more important than any one thing.” – Abraham Lincoln. My husband and I are history buffs , especially Civil War history. We have visited many battlefields and other sites. Ken Burns’ Civil War has taught us so much and a movie I always recommend is Gettysburg. It tells the story from both sides and is quite informative.

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Register for the 2021 GovCon Accounting Summit

AccountingDepartment

Join our co-founder, Bill Gerber, at the 2021 GovCon Accounting Summit from July 20, 2021, to July 22, 2021! The GovCon Accounting Summit is the premier educational experience for government contract accounting professionals.

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Unemployment Tax Refunds Update & Amended Return Requirements

LyfeAccounting

Today, we’re going to give an update on what exactly is going on with your money. We know a lot of you are waiting on tax refunds, stimulus checks, and even child tax credit payments. But recently, the IRS just announced that they are sending out refunds to 4 million people! And this is related to the millions of people who were wrongfully taxed last year on their unemployment compensation.

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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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Online Bookkeeping Provider xendoo Now Helping Small Businesses in 46 States, 12 Countries

xendoo

One of Broward County’s biggest startup success stories continues to grow at a rapid pace. Fort Lauderdale-based xendoo has developed a SaaS bookkeeping platform targeted at small businesses. The startup reported a two-year revenue growth of 777% from 2018 through 2019. The post Online Bookkeeping Provider xendoo Now Helping Small Businesses in 46 States, 12 Countries appeared first on Xendoo.

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Keeping It Simple

RitaKeller

“How difficult it is to be simple.” – Vincent Van Gogh. CPA leaders working in public accounting have a bothersome skill. I have observed on many occasions that they have the ability to complicated almost anything. Maybe it is their inquisitive nature. Rather than just try something, test something to see if it works, they research, investigate, question an idea over and over and usually end up NOT trying something new.

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New in QuickBooks: 3 Features That Make Accounting Easier

Pooley Accounting Services

At Pooley Accounting Services, we value the drive to continuing education. That is why all our employees participate in the QuickBooks Online Recertification. This is important to our company because we strive to give the best, and most effective, accounting services we can. If you are considering taking the QuickBooks Online Recertification, keep reading!

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A List of the 10 Worst Property Taxes By States

LyfeAccounting

Your physical address might result in you paying significantly more in property taxes than someone else. And as millions of Americans rush from one state to another, one thing you just have to keep in mind is property taxes. That’s why in this post, we’re going to uncover the states with the worst property taxes in the country. Read on as today we’re going to have some fun as we go through some of the states with the highest property taxes in the country.

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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.