Sat.Feb 05, 2022 - Fri.Feb 11, 2022

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Understanding the Pieces to Your Sales Tax Compliance Puzzle

TaxConnex

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules.

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AccountingDepartment.com Spotlight: Implementation Accounting Specialists

AccountingDepartment

AccountingDepartment.com is the leader in outsourced accounting, bookkeeping, controller, and advisory services. We are the largest and most experienced outsourced provider in the country and serve businesses nationwide with our 100% U.S-based team of professionals.

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7 ways to attract and win new tax clients

ThomsonReuters

1) Communicate clearly to win new tax clients. When you seek to win new tax clients, it’s best to start at the beginning. Do you know what your clients and prospects want, especially in terms of communication? With so many generations in need of tax and accounting services in the market today, it can be a challenge to discover what a client truly wants or needs, or how they want to connect with you.

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Fintech Landscape in 2022: Insights from a Fintech Co-Founder

BurklandAssociates

In 2021, few industries received more venture capital investment than fintech, and many industry observers predict 2022 will be another banner investment year for the sector. To guide you through Read More. The post Fintech Landscape in 2022: Insights from a Fintech Co-Founder appeared first on Burkland.

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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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What's New in State Sales and Use Taxes - Monthly 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. Oh Joy, oh revenue! State sales tax revenues and their local portions are reported up from Auburn, N.Y., to Colorado Springs, Colo., from Santa Barbara, Calif., to Mukilteo, Wash., defying predictions of the pandemic’s effect on government coffers – and delighting officials.

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Withum Awarded on the Forbes America’s Best Tax and Accounting Firms 2022 List

Withum

Withum has been awarded on the Forbes list of America’s Best Tax and Accounting Firms 2022. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. Previously, Withum received this designation in the Tax category. Now named for both Tax and Accounting, the respective teams are proud of the accolades.

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California Property Tax Updates

LSLCPAs

Transferring the Property Tax Base. Before we get too far into the year, we wanted to remind you of two significant changes that became effective in 2021 for California homeowners. They both relate to transferring the property tax base from an old to a new primary residence. California Property Tax Updates First Change For owners. The post California Property Tax Updates appeared first on LSL CPAs.

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6 Helpful Accounting Tips For A Start-Up Company

AccountingDepartment

As with any type of business, proper management of finances, and having a dedicated team or staff to handle said finances, is a critical component to long-term success.

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The Four Pillars of an Effective Project Risk Management Plan

Withum

An effective Risk Management Plan ideally considers multiple controls and intertwining processes that produce a system that doesn’t stop learning. Risk management planning is often a key project topic that comes to mind when strategizing towards a future state of a project, regardless of industry or company size. Risk management goes beyond a simple checklist of “to-do’s” and “not-to-do’s” but instead a dynamic and interconnected system of processes that

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Agencies Clarify Requirements for Plan Coverage of OTC COVID-19 Tests

ThomsonReuters

FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 52 (Feb. 4, 2022). Available at [link]. The DOL, IRS, and HHS have issued additional FAQ guidance addressing the terms and conditions under which group health plans must cover over-the-counter (OTC) COVID-19 diagnostic tests.

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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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QSEHRA Plan: Health Insurance Alternative for Qualifying Small Employers

Patriot Software

Do employers have to offer health insurance? Under the Affordable Care Act, you must provide health insurance if you have 50 or more full-time equivalent employees. If this requirement doesn’t apply to you, you might decide to establish a QSEHRA plan. What is a QSEHRA plan? A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is […] READ MORE.

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3 Tips to Avoid Tax Season Burnout

CPA Practice

The fight against burnout starts with managing stress. Sure, stress can be beneficial — your ancestors were certainly grateful for that “fight or flight” response — but burnout is not. It leaves you feeling emotionally and physically spent, even on.

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The Age of Non-Fungible Tokens (NFT) is Upon Us

Withum

NFTs have been around since the early days of crypto but have become more mainstream starting in 2020. While many people have heard of NFTs, very few can describe them. I will discuss what an NFT is and how the IRS views them for tax purposes. When most people think of NFTs, they think of virtual art. Common NFTs that have gone mainstream, aka the blue-chip NFTs, are Bored Ape Yacht Club (BAYC), Crypto Punks (Punk), and Smol Brains.

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Payroll trends to watch in 2022 (Part 2)

ThomsonReuters

Part 2 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including unemployment, disaster relief, paid sick leave, and international. In part 1 of my blogpost on 2022 payroll trends , I was recalling a recent weekend getaway from Hoboken, New Jersey to Miami Beach, Florida and how prevalent payroll is in our day-to-day lives.

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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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Lessons Learned From Building a $40M Growth Machine

GrowthForceBlog

7 min read. On the journey to growing a successful business, many entrepreneurs learn an essential lesson early on: growth can't happen unless you make the business more about the vision and less about the entrepreneur.

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Active Listening

RitaKeller

“Hearing is listening to what’s said. Listening is hearing what isn’t said.” – Simon Sinek. Often when I am talking with a group of CPAs or other CPA firm team members, I ask how many have had any formal training in listening. Rarely do I ever find anyone who has had some sort of listening training. You are in a people business.

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Hip Hop for Change

Withum

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Hip Hop for Change appeared first on Withum.

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Federal Paid FMLA May Be Out While States Consider Possibilities

ThomsonReuters

The signing of the Family and Medical Leave Act (FMLA) celebrates its 29th anniversary this February 5. Signed in 1993, the FMLA provides workers of employers with at least 50 employees up to 12 weeks of unpaid leave per year for the birth, adoption, or foster care placement of a child, and time off to tend to their own serious health condition or of those in their family.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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What Financial Reports Should My Nonprofit Program Director Look At?

GrowthForceBlog

7 min read. What's the secret of successful nonprofits? Their executive directors use management accounting and budgeting for nonprofits to make data-driven decisions just like the most successful leaders of for-profit businesses.

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Employee Retention Tax Credit (ERC)

CapataCPA

Employee Retention Tax Credit As we approach tax season, the Employee Retention Credit (ERC) may be an important credit for businesses. The ERC is a fully refundable IRS payroll tax credit (not a loan) available to employers with the potential of up to $26,000 per employee in federal payroll taxes. Businesses that received round one and/or. The post Employee Retention Tax Credit (ERC) appeared first on CPA firm in Orange County, CA | CAPATA.

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How To Receive A Qualified Small Business Stock Tax Exclusion On A Secondary Sale Of Stock

Withum

The qualified small business stock (QSBS) exclusion generally provides for a full or partial exclusion of capital gain realized on the sale of QSBS. If the requirements are met, then taxpayers can exclude from gross income capital gain in an amount equal to the greater of (i) $10 million or (ii) an annual exclusion of 10 times their basis in the stock sold (for an exclusion amount up to $500 million).

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2022 Minimum Wage and Overtime Salary Threshold Increases

ThomsonReuters

A new year brings minimum wage increases in 21 states while Connecticut and Florida will increase their minimum wage rates later in the year. Minimum wage rates will also increase in many localities around the nation. . Minimum wage rate adjustments have not yet been determined for the District of Columbia, Nevada, and Oregon which are scheduled to take effect on July 1 of this year. .

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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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Governor Newsom Signed Two Major Bills: SB 113 – Relating to the Passthrough Entity Elective Tax and SB 114 – Relating to COVID-19 Related Sick Pay

LSLCPAs

On February 9, 2022, Governor Newsom signed the following two bills: SB 113: Passthrough Entity Elective Tax This bill is the much anticipated “fix” to the Passthrough Entity Elective Tax (PEET) Credit. It expands the benefits of making a PEET payment by: Repealing the 7% tentative minimum tax limitation on the PEET Credit. This makes. The post Governor Newsom Signed Two Major Bills: SB 113 – Relating to the Passthrough Entity Elective Tax and SB 114 – Relating to COVID-19 Related S

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Starting a Financial Investigation

FraudFiles

How do you start a financial investigation? What would you look at first when analyzing a business? Tracy Coenen talks about some of the important things she would evaluate when starting a case with financial statements and income tax returns.

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Art of the ESOP Transaction: Qualified Service Providers

Withum

Recent studies and polls by the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University concluded that ESOPs are good. They are good for business and good for employees. Customers opt to purchase from businesses that are employee owned, and when choosing between similar jobs, recruits opt for the job that provides them with employee ownership.

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DOL Reports 2021 Mental Health Parity Enforcement Activity

ThomsonReuters

DOL Fact Sheet: FY 2021 MHPAEA Enforcement; Appendix: MHPAEA Guidance Compendium. Fact Sheet. Appendix. The DOL has issued a fact sheet summarizing 2021 mental health parity enforcement activity conducted by the DOL and the Centers for Medicare & Medicaid Services (CMS). The fact sheet explains the investigation process and provides examples of enforcement actions closed during fiscal year 2021.

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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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Lessons Learned in Client Onboarding

Summit CPA

The Virtual CPA Success Show: Episode 53. In the first quarter of 2020, we published an episode and talked all about client onboarding. We wondered what has changed at Summit CPA since? And thought why not circle back on this topic to discover the lessons we've learned. In this episode, Jamie Nau, our host and Summit CPA's Director of Accounting/Virtual CFO; Adam Hale, our COO and Co-founder; Lydia Rapp, our Project Manager takes a step back to look at how far we've come in terms of onboarding c

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Ask the Expert… What is the Triple Bottom Line?

DMCL

Businesses have traditionally looked solely at their profitability to determine how well they are performing; however, with growing public awareness of key social and environmental issues, more and more businesses are turning to CSR to focus on growing their triple bottom line instead. You may have heard of the triple bottom line before, but weren’t clear on what it stands for.

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Tenth Anniversary of Blog

Withum

This is the 1,005 th blog I posted in the last ten years, and today will start my eleventh year of these blogs. This is primarily a business blog and I post topics clients have expressed interest in, and I am gratified to be able to help them in this manner. When I look back, I also see blogs that documented some of my personal activities and nonpartisan “political” views, including blogs on my activities as the pandemic developed, blogs about books I read and even some TV shows I watch, the U.S

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What employers should know about voluntary unemployment contributions for rate reductions

ThomsonReuters

In the U.S., unemployment insurance originated in Wisconsin in 1932. And through the Social Security Act of 1935 (SSA), the federal government encouraged individual states to adopt unemployment insurance plans. Currently, there are unemployment insurance programs for all 50 states and in the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

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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.