Remove payments
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Cash Payments Over $10,000 Must Be Reported Online Beginning 1/1/2024

RogerRossmeisl

As reported in IRS News Release IR-2023-157 The Internal Revenue Service announced that starting 1/1/2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. Businesses that receive more than $10,000 in cash must report transactions to the U.S. government.

CPA 261
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FreshBooks Updates Digital Payment Options with Stripe Connect

CPA Practice

The online small business management system FreshBooks has launched FreshBooks Payments, its new solution that uses the Stripe Connect digital payment platform’s latest features and makes it easier for business owners to accept payments seamlessly.

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Virtual card payments and their benefits for accounts payable departments.

Airbase

In addition to greater control, security, and flexibility, virtual card payments can save finance teams hours of tedious work. Let’s take a deep dive into the many benefits of virtual card payments. The 7 major benefits of making virtual card payments. The 7 major benefits of making virtual card payments.

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Venmo, CashApp, and Zelle… OH MY! Why They Aren't Ideal Payment Solutions for Small Businesses

SMBAccountant

While these apps excel in peer-to-peer transactions, they may fall short when it comes to meeting the needs of small businesses seeking reliable payment solutions. Violating these terms could lead to payment reversals, account freezes, or terminations, posing significant risks to businesses relying on these platforms for transactions.

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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. As the financial landscape evolves, staying informed is the key to financial success.

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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 increased credit amount.

Tax 244
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Importance of Meeting Tax Return and Payment Deadlines

RogerRossmeisl

The failure-to-pay penalty is 1/2% for each month (or partial month) the payment is late. For example, if payment is due May 17 and is made June 22, the penalty is 1% (1/2% times 2 months or partial months). The post Importance of Meeting Tax Return and Payment Deadlines appeared first on Roger Rossmeisl, CPA.

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Automating Vendor Bills: Solving Six Major Pain Points for Small Businesses

This report covers key topics such as: automating the input of vendor bills to the accounting system, having an automated workflow for approvals, being able to search for invoice data on both paid and current invoices, and automating payment processes. Rillion gets high marks from reviewers for ease of use and an intuitive interface.

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Virtual Cards — Everything You Need to Know

Speaker: Eoin Hession, Controller at Recharge

Even though virtual cards have been part of the payments system for over ten years, there remains a lack of clarity around how they work and their value to companies large and small. In this webinar, Eoin Hession, Controller at Recharge, talks about how his company uses virtual cards in their operations.

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Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST

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The Emerging Spend Management Sector: Simplifying Your Accounting Processes

Speaker: Spencer Falbo, Principal at Kong Basile Consulting

For a long time, the market has offered point solutions for accounts payable, such as bill payment, expense management, travel software, and corporate cards. These instruments have aided in the automation of workflows for various aspects of non-payroll spending.