TaxConnex
APRIL 7, 2022
Federal Income Tax Day, April 18 th , looms large in everybody’s mind right now. Too bad sales tax doesn’t come with a deadline that simple. State sales tax filing obligations come in a dizzying number of deadlines for you to follow (potentially with bad consequences if you don’t). And generally, the higher the volume of tax you’ll be reporting, the more often you have to file.
BurklandAssociates
APRIL 6, 2022
This article is the first installment of a two-part series on cash management and supply chain challenges of startups. Check back next week for the second installment, where we’ll explore Read More. The post Cash Management & Supply Chain Challenges of Startups appeared first on Burkland.
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Withum
APRIL 5, 2022
The goal of minimizing tax liability likely drives a desire to discover new advantages in the tax law. If this sounds familiar to you, when planning for the upcoming tax year, a great place to start is with the basics. We can help. As you navigate our complicated tax code, you need a partner and important information in order to make the appropriate adjustments.
SchoolofBookkeeping
APRIL 8, 2022
Intuit QuickBooks is offering powerful tools that make work easier for small business and accounting professionals. With this in mind, they’ve rolled out a new network that aims to simplify and streamline processes, introduced another premium app, as well as a few updates to our platforms to make your life easier. The QuickBooks Business Network.
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.
TaxConnex
APRIL 5, 2022
Tangible personal property has historically been subject to the collection and remittance of sales tax while many services have been non-taxable (or exempt). More and more services are becoming taxable and represent a potential big wave of tax changes and updates in the years ahead. If your business sells?software or software-as-a-service?(SaaS), you deal with one of the most complex sales tax situations today.
ThomsonReuters
APRIL 7, 2022
Proposed Rule: Affordability of Employer Coverage for Family Members of Employees, 26 CFR Part 1, 87 Fed. Reg. __ (Apr. 7, 2022). Available at [link]. The IRS has proposed regulations that would change the eligibility standards for an Affordable Care Act (ACA) premium tax credit (PTC) by providing that affordability of employer-sponsored coverage for an employee’s family members would be based on the employee’s cost to cover the employee and those family members, rather than the cost of employe
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Patriot Software
APRIL 6, 2022
Employers juggle many responsibilities, including calculating and withholding payroll taxes and other deductions. But, what exactly does payroll taxes include? And, how do you know how much to withhold from employees’ wages? If you’re wondering about understanding payroll taxes, never fear—your payroll taxes breakdown is here. What are payroll taxes?
xendoo
APRIL 8, 2022
Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Before we get into the nitty-gritty of what you can count as a tax deduction, let’s define what a tax deduction is and isn’t.
ThomsonReuters
APRIL 7, 2022
Coalition for Workforce Innovation v. Walsh, No. 1:21-cv-00130-MAC (E.D. Tex. Mar. 14, 2022). In 2021, the DOL withdrew regulations on determining whether a worker is an independent contractor for purposes of the Fair Labor Standards Act (FLSA) (see our Checkpoint article ). The regulations had been issued in final form in January 2021 with a March 8, 2021 effective date but were almost immediately subject to a regulatory freeze (see our Checkpoint article ), and then delayed to May 7, 2021 (s
Withum
APRIL 5, 2022
Withum is proud to share that The Washingtonian selected team members Joel Susco , Brian Wynne and Billy Thomas for their DC’s Best Financial Advisers list. Joel and Brian, Partners, and Billy, Senior Manager, were chosen for the directory because of their industry expertise, community involvement and trustworthy reputations in the DC business world.
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
Ryan Lazanis
APRIL 4, 2022
Want all the information you need about accounts payable workflow automation? You’ve come to the right place. In this article, you’ll learn: What accounts payable automation is. 11 different benefits of automating this process. The best tools to automate A/P. How to specifically automate A/P. Let’s dive in! What is Accounts Payable Workflow Automation.
Basis 365
APRIL 6, 2022
If you're like many small business owners, you may think that forecasting and budgeting are one in the same; however, you'd be wrong. No matter the size of your business, it's essential to have an accurate forecast and budget as both work together to help you reach the ultimate goal of financial prosperity. But while both are equally important - budgeting and forecasts are two completely different financial beasts.
ThomsonReuters
APRIL 7, 2022
QUESTION: Our company’s qualified transportation plan allows employees to purchase transit passes with pre-tax compensation. Passes are distributed directly to employees; cash reimbursements are not allowed. Should we require substantiation or certification that an employee is using the pass to get to work? ANSWER: The Code provision authorizing qualified transportation plans indicates that the tax benefits under a qualified transportation plan are for “employees.
Withum
APRIL 5, 2022
Ken Burns’ Benjamin Franklin debuted on PBS last night and will continue tonight. If you missed it, I am sure you will have many opportunities to watch it when it is re-run. Benjamin Franklin’s summary of his advice on “The Way to Wealth” appeared in his 1758 and final edition of Poor Richard’s Almanac. The entire 25 year run of the Almanac is still being published and various editions are easily available at online booksellers and many brick and mortar stores and public libraries.
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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.
Anders CPA
APRIL 5, 2022
After an intense NCAA tournament, Erin Sweeney crafted the winning bracket in the 34th annual Anders Hoops for Hope tournament! Erin beat the odds to come in first place this year out of 639 total brackets. Thank you to our sponsors and everybody that participated to make this year such a success! All participant and sponsor donations benefitted the 2022 Charity of Choice, Lydia’s House.
AccountingDepartment
APRIL 7, 2022
Accurate and healthy accounting is vital for all businesses but often falls by the wayside for business owners, especially if they are juggling other responsibilities of managing and maintaining day-to-day operations. However, accounting should never be treated as an afterthought because it can lead to mistakes for the company. When accounting mistakes occur, it can hinder growth and cause uncertainty in the company's future success.
ThomsonReuters
APRIL 4, 2022
Sure, your firm’s tax compliance software does its job, but you know that there’s room for significant improvement. Tax season can obviously be a hectic and stressful time, but eliminating time-consuming tasks, and streamlining and automating the tax workflow would be transformative for you and your staff. What’s more, you’ve found the new software solution that you believe can deliver all of the powerful, time-saving tools your firm needs to work better and faster.
Withum
APRIL 8, 2022
Explore Other Episodes. #CivicWarriors #WithumImpact. The post Accepting Non Fungible Token (NFT) Donations with Sostento appeared first on Withum.
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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.
Lockstep
APRIL 6, 2022
Accounting teams rely on email for so much, it’s ridiculous. These teams depend on email to communicate internally with their teams, and externally with customers, sometimes managing four or more inboxes at a time. Managing today’s accounting email inboxes with limited collaboration capabilities means teams are using Slack, Teams, productivity tools, phone calls, IMs, and smoke signals to close the books.
AccountingDepartment
APRIL 5, 2022
Hiring a bookkeeper can be a great way to make sure your company's accounting needs are being handled. But you might be surprised to know that the bookkeeper doesn't have to be in-house, at all. Virtual bookkeeping is becoming much more common today, and a virtual bookkeeper could be the perfect choice for your business needs. With so many remote and telecommuting options available today, outsourcing your company's bookkeeping needs is a great way to make things easier.
ThomsonReuters
APRIL 7, 2022
Wit v. United Behavioral Health, 2022 WL 850647 (9th Cir. 2022). Available at [link]. The Ninth Circuit has reversed a federal trial court’s ruling that a large insurer breached its fiduciary duty to health plan participants by using overly restrictive guidelines for administering claims. Participants in a class action lawsuit brought claims for breach of fiduciary duty and arbitrary and capricious denial of benefits under ERISA, alleging that they were improperly denied benefits for treatment
Withum
APRIL 8, 2022
The House recently passed H.R. 2954 Securing a Strong Retirement Act , often referred to as SECURE Act 2.0, putting a full-court press on the need for Americans to add more to their retirement accounts. So for all of you who have been searching for ways to invest in Roth retirement plans, the bill should make you feel like Christmas came early. However, the aspects of the bill that would tax retirement contributions, as opposed to distributions, could be surprising for some.
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Basis 365
APRIL 4, 2022
Business is booming, and suddenly, you need extra hands in the office to accomplish your many emerging tasks. As a result, it's time to start thinking of hiring new employees. Though this phrase is inspiring and productive for your company, recruiting new staff members is also a timely and financially costly assignment. Unless you know what to expect and how to handle the changes well, onboarding personnel can cause significant financial and management problems for your industry.
Going Concern
APRIL 5, 2022
Scott Marcello. It only took five years, but Scott Marcello finally received some sort of punishment for what happened in KPMG’s audit practice several years ago as partners were working with PCAOB insiders to illegally receive advanced notice of the PCAOB’s inspection plans for KPMG audits. Marcello, KPMG’s former vice chair of audit, was fined $100,000 today by the PCAOB under a new disciplinary category—“supervisory failures”—regarding KPMG getting and using confidential PCAOB inspection info
ThomsonReuters
APRIL 4, 2022
Whether you’ve read about it in industry publications, heard about it at trade conferences or discussed it with your peers, you know that more and more firms are shifting away from compliance-based practices in favor of higher-value advisory services. You understand the importance of providing clients more proactive, strategic advice, but you’ve been unsure how to make the pivot — until now.
Withum
APRIL 8, 2022
The House recently passed H.R. 2954 Securing a Strong Retirement Act , referred to as SECURE Act 2.0, with overwhelming bipartisan support reflected in a vote of 414 in favor and only 5 opposing. It is expected that similar bipartisan support will be provided in the Senate. The Act includes incentives for small employers to create retirement plans and increase employee participation.
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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.
SkagitCountyTaxServices
APRIL 6, 2022
The first months of 2022 have been somewhat of a whirlwind. And while people everywhere are breaking out the deep cleaning sprays and scrub brushes to get a little springtime sparkle, you might want to be thinking about a similar process for your business. You know, while we’re all in the mood. (Though I should state for the record that here at Padgett & Padgett, PLLC CPA … we’ve been in busy season mode, and aren’t quite in that “spring cleaning mood” yet, ha.).
Randal DeHart
APRIL 8, 2022
Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a more significant market share. You won't build a loyal client base if you can't earn your visitors' trust, so companies value social proof so highly.
ThomsonReuters
APRIL 4, 2022
As a result of the CARES Act, the Provider Relief Fund (PRF) was created to reimburse eligible health care providers for increased expenses or lost revenue attributable to COVID-19. Although initially $100 billion was provided to prevent, prepare for, and respond to the coronavirus domestically and internally, that amount was increased by $78 billion in two subsequent pieces of legislation.
Withum
APRIL 4, 2022
So, your company is making the switch to Microsoft Teams, and you were given nothing but a “this is happening” alert from management. Or maybe your organization has been using Teams for a while and you are struggling to fully integrate into the system. What is an employee to do?! Don’t worry; Withum has your back! The switch from an old system to a new one is always a bit of a shock, no matter how prepared you might be.
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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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