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Blog Articles & Video September 2021

Top Ways to Fix Sage HR Unable to Contact Remote Server Error

Sage is a leading resource planning software, and one of its comprehensive features is the Sage HR. However, multiple users have raised the Sage HR Unable to Contact Remote Server Error when they try to access Sage 50 HR. An issue with the configuration of the application is the primary

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Build the perfect spousal lifetime access trust

The use of a spousal lifetime access trust, or SLAT, to eliminate the risk of changes in the estate and gift tax system can help separate legacy assets from lifetime assets. SLATs can be a planning solution to address the difficulties of making that separation. This article will help estate

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QuickBooks Desktop 2022 Features Key Updates

Intuit has introduced QuickBooks Desktop 2022, which includes new capabilities with major money movement, data sync and speed improvements that will help your small business clients complete more accounting tasks quicker. Below is a brief dive into the core updates made to the product. QuickBooks Desktop 2022 Subscription Offering QuickBooks Desktop

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Why It Pays to File Business Tax Returns Correctly

Whether you have an existing business or you are starting one, congratulate yourself—in any business environment, this is no easy feat. However, in the time of COVID-19, it’s even harder. But while you focus on sales and operations, do not forget the tax man. You may think that you already

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Get ready for a resurrection of the Superfund tax

The Superfund is on its way back. Originally enacted in 1980 as the Hazardous Waste Contamination Act, the Superfund was an excise tax assessed against the chemical, oil and gas industries, according to John Beatty, general manager over excise tax at Avalara. “It hit anyone who used items from a

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How CPAs Can Network Before Live Events

Thousands of in-person conferences and tradeshows have been postponed or switched to virtual events over the past two years due to the pandemic, and accounting events are no exception. While live presentations over Zoom and recorded demonstrations made the best of a terrible situation, the reality is that, in most

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Dems eye narrowing Biden plan on bank reporting to IRS

Democrats in Congress are considering a plan that would require banks to report accounts with at least $10,000 to the Internal Revenue Service — well above the Biden administration’s proposed $600 threshold — while also exempting some common transactions from the law. “We’ve made some significant movement on the number,”

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New fee for estate closing letters from IRS

Don’t forget to enclose payment with requests to the Internal Revenue Service for closing letters for clients’ estates in a month. Starting Oct. 28, a $67 user fee applies to any estate that requests a closing letter for its federal estate tax return. Letter requests must be made using Pay.gov.

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Driving DEI at CPA Firms: Why Diversity Matters

The increasing awareness of social justice issues over the past 18 months has triggered the need for organizations to have serious discussions about their internal culture and demographics. Terms like anti-racist, bias, micro-aggressions and allyship have become more widely used among HR and senior leadership teams. Companies across every industry pledged

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Deductions for Ponzi Schemes and Other Scams

This column focuses on the tax aspects of Ponzi schemes, starting with a bare-bones explanation of how scammers fleece investors. Their modus operandi isn’t complicated: They pay some original investors artificially high returns with funds collected from subsequently conned investors.  The most notorious scheme is the one orchestrated by Bernard

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