Sat.Sep 19, 2020 - Fri.Sep 25, 2020

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Why small business owners need to own marketing instead of renting it

DuctTapeMarketing

Why small business owners need to own marketing instead of renting it written by John Jantsch read more at Duct Tape Marketing. Odds are this question has crossed your mind at one point in time if you’re a small business owner: “Should I hire someone in-house for marketing or continue to seek outside help?”. So many small business owners are afraid to hire marketing people internally.

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5 Steps to Put Your Business on the Right Track to Maintain Sales Tax Compliance

TaxConnex

It has been two years since the US Supreme Court passed the Wayfair decision which paved the way for states to enact economic nexus rules. At this point, the majority of finance professionals understand the need to maintain sales & use tax compliance. Most businesses have some type of process in place although it may not be comprehensive enough.

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Common Accounting Mistakes: Government Edition - Issue #6 Fixed Assets

SMBAccountant

Nearly all businesses have some kind of fixed assets. A fixed asset is something purchased or assembled that is intended for long-term use. It is not a liquid asset and cannot be converted quickly to cash. The useful life, or amount of time the asset should be useful to the company, must be greater than one year and be greater than the established corporate limit.

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PPP Update: Two New Rules for Owners of S and C Corporations

Bharmal&Associates

PPP Update: Two New Rules for Owners of S & C Corporations. The Payroll Protection Program (PPP) rules—they keep a-changing. During the past month, the Small Business Administration (SBA) issued a new set of frequently asked questions (FAQs) and a new interim final rule, which in combination create the following good news for the Payroll Protection Program (PPP): More forgiveness.

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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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How Startups Can Utilize Spend Management & Drive Growth

BurklandAssociates

How can a growing tech startup that is not yet profitable drive towards profitability during a recession? Burkland CFO Marc Zablatsky joins CFO Daily News, Procurify, and a small panel Read More. The post How Startups Can Utilize Spend Management & Drive Growth appeared first on Burkland.

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Taxes in the Telecom World: Misconceptions and Advice

TaxConnex

This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. Taxes are an integral part of the telecom world. Taxes, fees and government surcharges on telecommunications services increased from 19.1% to 21.7% in 2019 (even as average monthly bills for consumers actually dropped). In talking with countless telecommunications service providers about their various tax and regulatory requirements, there are some recurring themes I hear that can

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Seven Things To Know Before You Take Out EIDL Loan

Bharmal&Associates

Seven Things To Know Before You Take Out EIDL Loan. Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic. Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back.

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2021 Tax Deadlines for Startups

BurklandAssociates

Here are 2021 tax deadlines for startups including U.S. Federal tax filing dates, and key tax dates for San Francisco, New York, and Seattle. You can estimate your tax preparation Read More. The post 2021 Tax Deadlines for Startups appeared first on Burkland.

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Common Accounting Mistakes: Government Edition - Issue #6 Fixed Assets

SMBAccountant

Nearly all businesses have some kind of fixed assets. A fixed asset is something purchased or assembled that is intended for long-term use. It is not a liquid asset and cannot be converted quickly to cash. The useful life, or amount of time the asset should be useful to the company, must be greater than one year and be greater than the established corporate limit.

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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Digital dollars could make the leap from concept to reality, but there might be a few ways to get there. Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Her speech, entitled “Payment and the Pandemic,” included a section on digital currencies.

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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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Improving Workflow to Drive Profit and Growth

PANALITIX

RESOURCES / ARTICLES. Improving Workflow. to Drive Profit and Growth. We hear a lot about accountants evolving their businesses to offer high margin (advisory) services. This makes sense as technology innovation, increased competition and downward price pressure impact the industry. The fact is, however, that most accounting businesses will continue to offer compliance services because they are in demand and are the bedrock of an accounting business.

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Get Ready to Mark Your Calendar! Here’s What Happens If Payday Falls on a Bank Holiday

Patriot Software

Between 50% – 78% of workers live paycheck to paycheck. These employees (and likely all employees) count on receiving their wages on their scheduled pay date. But, bank holidays might pose a slight hiccup. What happens if payday falls on a bank holiday? What happens if payday falls on a bank holiday—or around it? Although […] READ MORE.

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Xero Accounting and Taxes for eCommerce Companies

FusionCPA

As your e-commerce business grows it becomes increasingly complicated and you may be looking at all-in-one solutions like Xero accounting and Xero taxes. Staying current and organized when it comes to your bookkeeping starts to demand more and more time. You and your CFO may be looking for ways to simplify your bookkeeping. On the other hand, you may need to take a more in-depth look into your numbers but don’t have the time to sort through all the data and don’t know where to start to create a

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Taking AI Beyond Fraud Prevention And Into The Realm Of Smart Payments Routing

PYMNTS

Merchants, quite logically, want to keep transaction conversion rates high. And consumers want to pay with their preferred methods, across cards or digital wallets. Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed.

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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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PPP Update: Owner Compensation, Payroll Costs, and Self-Rental Costs

Katz,Sapper&Miller

The U.S. Small Business Administration (SBA) officially opened the Paycheck Protection Program (PPP) forgiveness application portal to lenders on Aug. 10, 2020. Some banks are accepting applications and borrowers are beginning to prepare loan forgiveness applications. Recent guidance provides significant clarifications regarding owner-compensation limitations, payroll costs, and self-rental costs.

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The Basics of Payroll Tax Withholding

Patriot Software

When you have employees, you are responsible for paying them—but not before taking out some money for payroll taxes. The IRS, Social Security Administration (SSA), and state and locality (if applicable) all require payroll tax withholding. So, what is payroll tax withholding? What do you need to do to stay compliant? What is payroll tax […] READ MORE.

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ACCOUNTING IN THE AGE OF AUTOMATION AND AI

AccountingDepartment

ACCOUNTING IN THE AGE OF AUTOMATION AND AI: EXPLORING POSSIBILITIES, OPPORTUNITIES & CHALLENGES IN ACCOUNTING TODAY.

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FLEETCOR Buys AFEX To Boost Cross-Border Payments

PYMNTS

FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated Foreign Exchange (AFEX) to help boost its own payments network, a press release says. AFEX works to implement cross-border solutions to aid small to medium-sized businesses (SMBs), helping them to grow internationally, the release says.

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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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New International Regulations Provide Additional Guidance on Tax Reform

Katz,Sapper&Miller

The IRS recently issued a new set of final and proposed regulations impacting many international tax concepts introduced as part of the Tax Cuts and Jobs Act (TCJA). As a refresher, the TCJA enacted section 951A, often known as Global Intangible Low-Taxed Income (GILTI), and requires a U.S. shareholder of a Controlled Foreign Corporation (CFC) to include certain income earned by a CFC in taxable income annually.

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5 Signs that You Have Outgrown QuickBooks Online for Accountants

FusionCPA

If you are the owner of your own business or if you are launching a startup of your own, you may be using QuickBooks for accountants to track invoices while managing your expenses. However, knowing the signs that you have outgrown QuickBooks Online - Intuit's solution suitable for small businesse s - to a solution more suitable for scaling. Or maybe you want to outsource accounting completely.

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Reclassifying Multiple Transactions at Once in QuickBooks

SchoolofBookkeeping

Once you record transactions, QuickBooks posts to accounts at the time it was recorded, but sometimes you may realize that it was posted to the wrong way. How do you update multiple transactions at once? Fortunately there are several ways. Read More. The post Reclassifying Multiple Transactions at Once in QuickBooks appeared first on schoolofbookkeeping.com - Ignite Your Practice!

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Western Union Teams With Isabel Group To Offer Payments In Belgium

PYMNTS

The business division of Western Union will work with Isabel Group , a Belgian company providing multi-bank services through its B2B network Isabel 6, to grow connectivity in Belgium, according to a press release. Western Union Business Solutions will work with Isabel Group to expand access to Isabel's network, which offers online banking and fast payment services for organizations.

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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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Provider Relief Funds Received Under the CARES Act Impose Audit Requirements

Katz,Sapper&Miller

In response to the global pandemic caused by COVID-19, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provided increased funding for existing programs and funded at least 20 new federal programs to help stimulate the economy.

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Join The #HeroesWearMasks Challenge And Make A Difference In Your Community

RLLeaders

It has been highlighted recently by many public health experts that cloth face coverings are one of the most powerful weapons we currently have as a country to slow the spread of COVID-19. This critical information has helped increase the use of mask wearing among Americans, but more people need to join the movement. That’s why Facts2Health, a collaboration between the entertainment industry, private sector, and the CDC Foundation, has launched the #HeroesWearMasks campaign.

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What’s Your Biggest Accounting Takeaway from Your Time in the Virtual Workplace this Year?

AccountingDepartment

It was only just a few years ago when our teams sat among the huge main sessions (unthinkable these days!) of QuickBooks Connect and Scaling New Heights. We heard all about the future of cloud accounting, how machines would be taking over, and how we could best prepare for the future of automation and AI. Truth be told, we probably could’ve given many of those presentations as we were already 100% virtual.

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HSBC To Staff: Stay Off Bank’s Social Media Accounts

PYMNTS

The 233,000 worldwide employees of HSBC Holdings Plc were ordered on Monday (Sept. 21) to stay off the bank’s social media sites after a report was leaked to BuzzFeed News and the International Consortium of Investigative Journalists (ICIJ). . Bloomberg News reported that Tricia Weener , HSBC ’s global head of marketing, sent a memo to the workforce of the London-based company stating that they must not post to social media until at least 11 a.m.

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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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KROST Client Lilit Davtyan of Phonexa Awarded CFO of the Year

KROST

We would like to extend our congratulations to Lilit Davtyan for receiving the title of Large Private Company CFO of the Year. She received this recognition during the 14 th Annual CFO Awards hosted by the Los Angeles Business Journal on September 23, 2020. Lilit is the CFO of one of our valued clients, Phonexa , an all-in-one platform for ROI-driven marketing.

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Why Your Database Is Your Most Powerful Asset

CTP

As the old saying goes, it takes money to make money. Sure, your small business owner clients can bootstrap their new business to a certain extent. However, when it’s time to scale and make substantial investments in property and/or personnel, in most cases, outside capital has to be acquired. And truth be told, many of […]. The post Why Your Database Is Your Most Powerful Asset appeared first on certifiedtaxcoach.

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It’s Not an Investment Club, It’s a Pyramid Scheme

FraudFiles

Have you seen these invitations to “join an investment club” on social media? They’re frauds. They’re scams. They’re not investment clubs. This is a typical pyramid scheme (also called Ponzi scheme ). Below is the scam being promoted by an attorney in Washington D.C. who has a pretty decent social media following. For weeks, she’s been posting screenshots like this: You see that she’s receiving money “from an external Bitcoin account.” Over

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Visa On Giving SMBs A Digital-First Boost This Holiday Season

PYMNTS

In a normal year, the holiday season is an incredibly busy time. In between the mad rush to close out the business year, retailers and restaurants prep for what they hope is the most wonderful time of their year for making sales. Restaurants, in particular, look to cash in on the holiday rush as businesses book holiday parties and friends and families gather in their establishments to celebrate over good food and drink.

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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.