Sat.Apr 17, 2021 - Fri.Apr 23, 2021

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Should I Consider Venture Debt? As a Startup Founder the Answer is YES

BurklandAssociates

Venture Debt is not for every startup Founder, but it should at least be considered, discussed and evaluated. Pretending venture debt does not exist is shutting one’s eyes to a Read More. The post Should I Consider Venture Debt? As a Startup Founder the Answer is YES appeared first on Burkland.

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Sales Tax Compliance: Automated Returns or Service Provider?

TaxConnex

This time of year, everybody’s mind is on income tax preparation. And for many accountants and CPA firms, this time of year means extra-long hours and more time spent managing clients’ finances. The fact is, when it comes to many companies’ federal and state income tax returns, they don’t rely on an automated income tax return. They turn to experts.

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Automation Trends That Will Reshape Your Back Office

GrowthForceBlog

9 min read. Calculators, number 2 pencils, green lamps, ledger books, and giant filing cabinets: what do these things have in common? They are relics from the past way businesses used to do accounting.

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Update on California Classic Car Smog Exemption Bill AB 220

RogerRossmeisl

As posted to Mike Frankovich’s YouTube Channel on 4/15/2021 (Run time: 8 min, 47 sec) If you’re like me, you have trouble understanding why California continues to make it so difficult to engage is what is one of the most quintessential of California pastimes. classic car ownership. Since the smog check exemption changed from a 30 year rolling average to a set, 1975 and older cut-off back on 4/1/2005 classic car enthusiasts owning post-1975 vehicles have tirelessly petitioned their e

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Fix Late Payments Without Souring Your Customer Relationships | YayPay

Accountant Advocate Submitted Articles

How can AR teams improve customer payment behavior? Here are some of the key ways to protect your customer relationships, as well as your cash flow.

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Add Florida to the List of States with Economic Nexus!

TaxConnex

Florida Gov. Ron DeSantis signed l egislation that impose s sales tax economic nexus on remote sellers on April 19, 2021. Economic nexus has finally passed in Florida! What does this mean for you and your business? The law – which Florida businesses have long awaited and which critics said will cost ordinary Floridians the expense of sales tax while benefiting businesses – also contain s Marketplace Provider (aka “m arketplace f acilitator ”) provisions that require platforms such as Amazon to c

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Be Careful When Claiming “Made in USA”

RogerRossmeisl

Recently, the Federal Trade Commission (FTC) settled a lawsuit with a company it says made false and misleading claims about its consumer products. Specifically, the company advertised on its website and social media accounts that its goods were “Made in USA,” even though most of them were imported. This is a violation of the FTC Act, and if your business is making similar claims about foreign-made products, you too could find yourself in legal hot water.

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2020 Tax Update for the Tax Planner – Part 2

CTP

This is our second posting on the topic, so please check out Thursday’s blog, if you missed it. There have been so many tax changes this year! As you might expect, it is difficult to cover them all. We’ll try to highlight a handful of changes that we think will be most relevant to you […]. The post 2020 Tax Update for the Tax Planner – Part 2 appeared first on certifiedtaxcoach. 2020 Tax Update for the Tax Planner – Part 2 was first posted on April 17, 2021 at 9:00 am. ©20

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A Prettier Profit and Loss Statement: Up- and Cross-Selling Techniques for Salon Owners

xendoo

Editor’s Note: This post was originally published in October 2017 and has been updated for accuracy and comprehensiveness. If you’re like most salon owners, the chances are good that you decided to start a hair salon because you love meeting new people and helping them feel more beautiful than when they walked in your front door. It’s only natural because everyone loves a rewarding job.

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Ninth Circuit Affirms ERISA’s Preemption of State-Law Claims

ThomsonReuters

Meyer v. United Healthcare, 2021 WL 930258 (9th Cir. 2021). Available at [link]. A health plan participant brought state-law claims against the plan’s insurer, alleging the insurer engaged in deceptive practices, breached its contract, and committed fraud in handling his claim. After a federal trial court dismissed the case based on ERISA’s preemption of state-law claims, the participant appealed.

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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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ARPA Tax Break May Make Child Care Less Expensive

RogerRossmeisl

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so that the taxpayer can be gainfully employed. Note that a credit reduces your tax bill dollar for dollar which, in effect can make child care less expensive.

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Meet Your Local PVA!

CTP

Somewhere within your county, likely at this very moment, a Property Valuation Assessor (PVA) is determining the value of a specific piece of property. Who is your PVA? What is their role? And why does it matter? If you familiarize yourself with your local PVA, you can potentially realize significant property tax savings. Each county […]. The post Meet Your Local PVA!

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How Warren Buffett Did It

Withum

Warren Buffett is one of the most quoted and go-to people for his views about the stock market and is considered the world’s most successful investor. He has also been a fixture in the investing community for over fifty years. I will be presenting a free Zoom webinar next Thursday giving a peak into his personality and investing patterns.

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Getting started: How a growth mindset can help design your tax and accounting firm

ThomsonReuters

Whether you’re looking to branch out and start your own firm, or you’re a current small firm owner, the idea of continuing to evolve and design your tax and accounting firm is a constant in your mind. In this next chapter of Small Talk with Heather Walker , I am once again joined by Paul Miller, Founder and Owner of Business by Design. Together, we discuss how Paul embraced a growth mindset in creating his own business, and how you can bring advisory processes into the foundation of your firm.

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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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CDTFA Releases Updated Pub 34, Motor Vehicle Dealers

RogerRossmeisl

The California Department of Tax and Fee Administration (CDTFA) has updated Publication 34 (Motor Vehicle Dealers), to include 2020 legislation that, effective 1/1/2021, imposes new reporting and payments requirements on certain used vehicle dealers. The new discussion, entitled “Used Vehicle Dealers” (in the section on “Motor Vehicle Sales”), provides in part that effective 1/1/2021, certain used vehicle dealers are required to pay sales tax on their retail sales of vehi

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What is an Overhead Expense?

MazumaBusinessAccounting

We work with small business owners and entrepreneurs. Some are seasoned, others are just growing their side hustle. Their skills are varied and they have a wide variety of talents. We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful.

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Why Investing in Younger Generations is Beneficial

AccountingDepartment

With the ever-changing corporate climate, companies need to invest in the younger generations. Currently, over 40% of working individuals in the United States fall into the Millennial and Gen-Z categories. To quote Alex Chausovsky of ITR Economics, "Young people are the basis of consumption activity in the future. They are the creators of demand.". With the ongoing retirement of the Baby Boomer generation, there is an influx of Millennials and Gen-Z-ers completing schooling programs and flooding

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DOL Identifies Cybersecurity Tips for Plan Sponsors, Participants, and Fiduciaries

ThomsonReuters

EBSA: Cybersecurity Program Best Practices; Tips for Hiring a Service Provider With Strong Cybersecurity Practices; Online Security Tips; News Release (Apr. 14, 2021). Best Practices. Hiring Tips. Online Tips. News Release. The DOL’s Employee Benefits Security Administration (EBSA) has issued guidance identifying “best practices” to mitigate cybersecurity risks in the administration of ERISA-covered plans, along with advice on hiring retirement plan service providers and online security tips for

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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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Stock Market Playbook

Withum

Investing is a serious endeavor and that is why many people “outsource” this to wealth management professionals. However, there are some principles that I believe everyone should be aware of and understand. I covered some of these in the last two blogs. Today I want to provide a playbook on how to proceed whether you use a professional or choose to do it yourself.

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How to Grow your Business: Marketing Strategy Part II

MazumaBusinessAccounting

Once you’ve ironed out your marketing message, you’ll want to decide what channels will work best to get your message to the right customers. As you consider each channel, think about where your audience “hangs out”. Does your audience spend a lot of time on social media? Does your audience read the newspaper or listen to the radio? Focus your marketing efforts on the channels that are most likely to grab your audience’s attention.

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Real Property Tax Basics

CTP

Property tax is one of our country’s oldest taxes; it was even established prior to federal income tax. As far back as the founding of the United States of America, property taxes were assessed on colonists who were settling this country. Property tax is (and has been) one of the primary sources of revenue for […]. The post Real Property Tax Basics appeared first on certifiedtaxcoach.

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The Most Common Mistakes of Business Leaders (And What To Do Instead)

GrowthForceBlog

9 min read. “One thing is certain in business. You and everyone around you will make mistakes. ”- Richard Branson.

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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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[Webinar] Exit Planning – Preparing For The Potential Sale of Your Business

KROST

Whether you are planning to sell your business now, in the next 5 years, or have no plan, Paren Knadjian, head of M&A and Capital Markets at KROST, will provide the roadmap to being prepared. Topics covered include: How exit planning fits with business strategy and personal financial planning. The six biggest myths about selling a business. Maximizing value.

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How to Reduce Stress as an Entrepreneur

MazumaBusinessAccounting

It’s no secret that being an entrepreneur is stressful. You’ve got a million things on your plate. From ordering inventory to dealing with customer concerns, to staying within budget and beyond, the stress of daily responsibilities can wear on you. As an entrepreneur, it’s important to reduce stress so that you can have a clear mind when making business decisions, pitching, or dealing with customers. .

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Finding the Best Accounting Service for Your Clients

AccountingDepartment

It's generally unanimous that B2B CFO® Partners want to offer an option for their clients that is going to give them the greatest accuracy and most comprehensive accounting services when needed. As a B2B CFO® Partner, Guillermo Birmingham realized that his firm did not do accounting on a day-to-day basis, but at the same time had to rely on good accounting information to provide his clients a high level of financial management support.

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Application Process Announced for Restaurant Revitalization Fund

Withum

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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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Alcoholic Beverage Control License Renewal Fee Waiver

KROST

The CA Governor signed a relief package that authorizes the ABC to waive license renewal fee’s for eligible licenses that expire between March 1st, 2021 and February 28, 2023. Eligible licenses are the following on sale licenses: The license type shall be one of the following: 02 1 , 23, duplicate 23, 40, 41, 42, 47, duplicate 47, 48, duplicate 48, 49, duplicate 49, 50, 51, 52, 57, duplicate 57, 58, 59, 60, 61, 64, 68, 69, 71, duplicate 71, 72, duplicate 72, 74, 75, duplicate 75, 76, duplicate 7

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How to Write Off Your Dream Car Tax Free in 2021

LyfeAccounting

So, you make some money. You got some expenses. And you’re telling yourself that one day, “I’m going to earn my dream car.” But hold on, what if we told you, you can get it for free. And what if we told you the business tax code was actually set up for you to do so? And companies around the world take advantage of this by providing cars for their executives and employees.

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Understanding Inventory Assets

AccountingDepartment

To understand inventory assets , you first have to know what an inventory asset is. An inventory asset is a product that a business has to sell. And if a business is a manufacturer, all of the materials used to make that product are considered inventory. Inventory assets are found in the assets section of the business's balance sheets. How a company categorizes its inventory assets is dependent on whether it is a merchandising company or a manufacturer.

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Interested in NFTs? What You Need to Know Before You Invest

Withum

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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.