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We'll also get into some app news, conference updates, and talk more tax, as we wander through the land of IRS troubles. Payments Valued at $72.6T to verify your identity. 18:58 – Blake responds. 23:38 – ACH Network up to 29.1B Payments Valued at $72.6T to verify your identity. We appreciate you!
It’s tax season again and there’s something you should know — the IRS requires your company to file Form 1099-NEC (Non-Employee Compensation) to report non-employee compensation to the IRS one month earlier than in previous years. Send a letter to the IRS with your tax ID number, address and reason for the delay.
We'll also look at what KPMG is doing to entice new recruits, and tackle the touchy subject of no-life-balance during tax season, and how to deal with the Great Resignation. We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad?
link] 2:24 – AOC's 'Tax the Rich' dress could've used a different slogan [link] 4:00 – As More Workers Go Solo, the Software Stack Is the New Firm [link] 7:56 – Have you used the IRS Tax Pro Account Feature? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad?
We'll talk tax with news on TaxAct, and how TaxJar successfully lobbies to change sales tax regulation on behalf of clients. 20:44 - Melio raises $110M on a $1.3B 20:44 - Melio raises $110M on a $1.3B Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad?
I've got follow up on Wirecard, the Ernst & Young audit that apparently did not detect $2 billion in money that was missing. David Leary: [00:04:18] I've got some Wirecard, as well. Blake Oliver: [00:04:19] IRS news, appropriate for Tax Day coming up. 2 Was Key to the Firm’s Rapid Rise. . - PPP, of course, is still in the news.
With special user training materials, webinars, and detailed documentation, Rossum is an invoicing processing software that makes change management easier than ever. It makes supplier onboarding easy, reduces the cost of processing every invoice, and has built-in tax compliance capabilities on a global scale.
If you have been paying payroll tax, you'll have all of that. There's gonna be a process for it of being able to prove, from your taxes and what you filed. When we're talking for the PPP, if you employ people, it's people on payroll, you pay payroll taxes for. Your tax returns are delayed. That's really what they want.
[00:19:09] Apparently, concerns have been raised within the Department of Justice that this is anti-competitive because Credit Karma also started doing taxes for free. That was an existential threat to TurboTax, because why would you pay to do your taxes when you could do them completely for free? Not versus all tax returns filed.
Million of Stock After Reassuring Public About Coronavirus Preparedness 26:38 - Some webinars re: Food Service and Accounting During This Crisis Five Crisis Numbers for Food & Bev - YouTube Now What? She writes for Forbes, and she writes for Bloomberg Tax. This hasn't been finalized yet," from the tax situation.
You finished the week up with a big, huge webinar, or something? So, we planned a series of webinars, and we did one on Friday. We did it on CPAacademy, and 1,758 people attended this webinar. My conclusion, after doing this webinar and a bunch of research around it, is we're gonna peak in May, probably. 1,200 people?
If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get income and fees recorded correctly so that the deposit amounts match the bank statement so you can reconcile. They need help with local tax issues. That just happens.
Sponsors Relay - [link] Keeper - [link] Accountests - [link] Chapters (00:47) - Don Jr. Let the listeners of The Accounting Podcast know by running a classified ad. Sponsors Relay - [link] Keeper - [link] Accountests - [link] Chapters (00:47) - Don Jr. Let the listeners of The Accounting Podcast know by running a classified ad.
They have 60 million direct deposits they can do. Probably information from your tax return and your Social Security number. David Leary: [00:30:11] They invited a bunch of employees, apparently, into a Zoom webinar. The people running the webinar are people that they didn't recognize. They're gonna do that in mid-April.
David Leary: [00:13:00] Do you think if it wasn't for PPP and the loan situations - because tax season kinda got delayed - do you think it'd be less? Well, yeah, I think the tax season and PPP together create this really difficult situation. I mean, look in that accounting firm office in the summer. It would- just not a good time.
All right let's talk about what's going on with tax, IRS, payroll tax. I got a deposit from the IRS in my bank account for $32.12, and I thought, oh, no, is this my stimulus payment? million Americans are getting a tax refund interest. So, now, this makes me question- they obviously have my direct deposit info.
There's no alignment on any pieces of this - the tax breaks for businesses, stimulus checks, unemployment benefits. There's a form called Form 3115, which you file with your income tax return to change your accounting method from cash to accrual, vice versa. You can get instant deposits to that account free of charge.
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We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes , or Podchaser. Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad?
AccountingWEB 06:57 - Racial Disparities and the Income Tax System – Tax Policy Center 09:07 - [OC] People Killed by Police Forces (Annual rate per 10 million people) - Reddit 11:28 - Police Unions And Civilian Deaths - NPR 12:41 - The Illusion of Race-Neutral Tax Policy - ITEP 13:41 - Executive at top U.S.
CPA Trendlines 42:18 – Does the US tax code favor automation? tax code actually favors automation, according to a new paper. When you add up all the taxes on labor – hiring people, employing people to do work – it ends up being about 28.5% Now, what is the tax rate on replacing those people with software, and equipment?
It Felt Like a Black Mirror Episode' The Inside Account of How Bird Laid off 406 People in Two Minutes via a Zoom Webinar" [link] - dot.LA She had a webinar on PPP and the emergency loan, and I attended her webinar. So, if you're one of the people that have used TurboTax, you probably don't have the deposit yet.
If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get income and fees recorded correctly so that the deposit amounts match the bank statement so you can reconcile. David Leary: [00:12:44] Yeah.
15 tax returns – Journal of Accountancy 24:56 – Penalty relief may be available to those who miss Sept. 15 tax returns – Journal of Accountancy 24:56 – Penalty relief may be available to those who miss Sept. Perhaps, we start with a little bit of PPP news and payroll tax deferral news? This is why I'm not in tax.
Paycheck Protection Program, CARES Act, unemployment insurance, furloughs, layoffs, cash flow, CDC guidance, employee safety, paid leave, tax credits - tracking all of the constantly changing COVID-19-related information for your clients is getting overwhelming. People are suing the bank because they've been holding the tax money.
Paycheck Protection Program, CARES Act, unemployment insurance, furloughs, layoffs, cash flow, CDC guidance, employee safety, paid leave, tax credits - tracking all of the constantly changing COVID-19-related information for your clients is getting overwhelming. They just wait longer and longer and longer in the tax season.
Then, talking about that whole QuickBooks Live type model of you get your tax and your bookkeeping all under one roof for one price type model, they've been heading down that way. No account minimums, no monthly fees, free instant payouts, built-in bookkeeping, mobile check deposit. billion in deposits in the Cash App?
Oh, we have to talk about the Trump payroll-tax deferral. This is another example of this, that basically they're going to help the Revolut Business customers reduce their tax bills and automate their company accounts. Let's talk about economics, payroll tax, the Trump executive actions. That was really crazy.
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