Self-employed workers have become a prominent demographic amidst the COVID-19 pandemic. Labour Market Information Council reports that in Canada, as much as 73 percent of self-employed people are working for their solely-owned businesses. While the numbers are less clear in the U.S., where nearly anyone can set up an LLC, the chances are that
It’s being called the “Great Resignation.” In 2020, the pandemic brought into clear focus what today’s workers value: work-life balance, working remotely and a shared cultural fit. Not all employers recognized this swing—but they are feeling the effects of it. According to the U.S. Bureau of Labor Statistics, four million
Zoho Books is a simplified accounting application with the aid of small business owners. It is crucial that you enter your business details in the records when you have switched from another software to Zoho Books. One of the most critical components of these records is the opening balance of
Ireland is ready to sign up to a proposed global agreement for a minimum tax on companies, a climbdown that removes one hurdle to an unprecedented deal that would reshape the landscape for multinationals. On the eve of a key meeting between 140 countries hosted by the Organization for Economic
If you have a client that is a new seller, are you aware that consumer use tax is just as obligatory as sales tax? Many sellers overlook this fact and fail to report it properly. Where there’s sales tax, there’s usually use tax — most states that levy sales tax
Homeowners know only too well that their treks to hardware stores, calls to plumbers and emergency replacements of appliances dent their checkbooks. Owners also ought to know why it’s important for them to keep good records on what their outlays add up to. The ones who scrupulously hoard receipts lose
CliftonLarsonAllen is teaming up with the National Association of Black Accountants to encourage more diversity, equity and inclusion in the accounting profession. The partnership represents a first of its kind corporate sponsorship for NABA. As part of the effort, CLA is committing to increase workforce diversity, expand its talent pool
After a crisis, we often look back at the way things were before and find them quaint. The ways in which we measured performance and value before the onset of the COVID-19 pandemic now seem outdated. Historic drivers like scope, scale and efficiency are rapidly being replaced by new and transformative value drivers
The Global Reporting Initiative unveiled its revised Universal Standards on Tuesday to reflect due diligence expectations for organizations to manage their sustainability impacts, including on human rights. GRI anticipates the revised standards will be used by the more than 10,000 companies already using its standards for their sustainability reporting. The
In a new case decided by the Eleventh Circuit Court of Appeals, Slaughter, CA-11 No. 20-10786, 8/3/21, a famous author of crime novels was held liable for underreported self-employment income. Generally, a self-employed individual must pay federal income tax as well as self-employment tax on the net self-employment income received during
