What would you do if 40 percent of your team quit next week? Of course, such dramatic turnover is unlikely, at least all at once, but it could become a reality over the next year. According to Microsoft’s 2021 Work Trend Index, 41 percent of the global workforce is considering
It’s increasingly important for entrepreneurs to understand how a company with multiple entities should handle shared expenses, and how a company with multiple entities should be legally structured to avoid issues with shared expenses in the future. Every company has unique circumstances, so it’s critical for business owners to get professional accounting
It’s increasingly important for entrepreneurs to understand how a company with multiple entities should handle shared expenses, and how a company with multiple entities should be legally structured to avoid issues with shared expenses in the future. Every company has unique circumstances, so it’s critical for business owners to get professional accounting
The U.S. Social Security Administration (SSA) recently increased the domestic employee coverage threshold to $2,400 for 2022, up from $2,300 in 2021, marking the third consecutive year the threshold has been increased. The amount is set each year by the SSA, and it serves as a good reminder to check in with your clients who have
The result in a new Tax Court case of unpaid employment taxes, Cashaw, TC Memo 2021-123, 10/27/21, was especially harsh due to the unenviable position of the taxpayer. Background: If payroll taxes aren’t remitted to the IRS in time, the “responsible party” may be held personally liable for the full
ApprovalMax, an approval automation app for Xero and QuickBooks Online, has introduced a new plan for organizations that require a higher level of control and have special policies for budget control and supplier vetting in place. It also significantly increases the efficiency of approval processes by automating certain parts and
We live in a world of self-driving cars, where access to mobile banking is ubiquitous and space tourism is on the horizon. Yet, accounting processes are shockingly old-fashioned. According to recent research by Gartner, 50 percent of B2B invoices will be processed and paid without manual intervention by 2025. As a result, large
Thomson Reuters has launched the Indirect Tax (IDT) Determination Anywhere platform, a new patent-pending, cloud-based tax technology platform that sits on top of existing infrastructure – private and public cloud or on-premises solutions –enabling accurate and secure tax calculations. Determination Anywhere’s proximity to transaction systems offers tax professionals the power
Many clients go on cruise control after Thanksgiving. As the holidays approach, their minds are elsewhere, and they put off making financial decisions. They may say, “Call me in the New Year.” As an accounting professional, you know that December 31 is one of several hard-stop deadlines in your business.
Starting and running a business means making countless decisions. One that is often overlooked is choosing a registered agent. One of the many important duties a registered agent performs is notifying company management when a lawsuit is filed against the company. With small businesses incurring over $180 billion in civil
