CFO Share

MAY 18, 2023

VAT vs sales tax can be especially confusing for international businesses. Sales tax is extremely common amongst the USA, whereas VAT is more common in foreign countries. All companies should consider VAT vs sales tax when reviewing their tax planning strategy. Who implements a VAT or sales tax?

Sales 52

Sales Tax Planning Compliance Invoicing 52

Nerd's Eye View

SEPTEMBER 6, 2023

Which means that by taking into account a client's net worth, realistic liability risks, and level of sophistication, advisors can help assess what types of strategies may be appropriate for the client to explore. For instance, qualified plan assets (e.g., tenancy by the entireties and community property).

Education 91

Education Tax Planning Planning Accounting 91

Nerd's Eye View

OCTOBER 14, 2022

While this will help seniors keep pace with rising prices, it also creates tax planning opportunities for advisors and raises the possibility that the Social Security Trust Fund could be depleted sooner than expected. Why accounting firms have become hot acquisition targets for RIAs.

Tax Planning 80

Tax Planning Practice Management Accounting Firms Securities 80

Spreadym

APRIL 27, 2023

Tax planning: Some financial analysis and planning software includes tax planning tools that help users forecast and minimize tax liabilities and maximize tax deductions. Read here how API can help manage planning and budgeting process in your business.

Financial Analysis 52

Financial Analysis Tax Planning Budgeting Forecasting 52

Nerd's Eye View

MAY 12, 2023

Also in industry news this week: Why industry groups representing investment advisers and others have blasted an SEC proposal that would significantly expand its Custody Rule A new study suggests that organic client growth and profit margins are the key factors driving RIA valuations, with the firm’s affiliation model having little to no impact (..)

Tax Planning 80

Tax Planning Practice Management Valuation Investments 80

Nerd's Eye View

APRIL 5, 2023

And while the near-constant drumbeat of proposed legislative actions that would further alter the estate planning landscape has led some planners to try to 'get ahead' of those changes by suggesting action in anticipation of those bills becoming laws, doing so can come with risks… especially when those proposals never come to fruition.

Planning 86

Planning Tax Planning Accounting 86

PYMNTS

NOVEMBER 25, 2020

users by email that they have 14 days to shutter their accounts and take out all their money or have their accounts locked, Decrypt reported. And Coinbase will not be providing a Form 1099-K for trades on the Coinbase exchange as of the 2020 tax year, according to a post from the company.

Tax Planning 97

Tax Planning Currencies Accounting Planning 97

Nerd's Eye View

DECEMBER 25, 2023

We start with several articles on retirement planning: Data showing where American retirees currently stand, from their average net worth to how they spend each hour of the day How, according to a recent study, delaying Social Security benefits typically leads to greater lifetime wealth than claiming benefits early in order to reduce portfolio withdrawals (..)

Practice Management 80

Practice Management Tax Planning Planning Securities 80

Nerd's Eye View

OCTOBER 2, 2023

Welcome to the October 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

Communication 87

Communication Tax Planning Technology Planning 87

Nerd's Eye View

JULY 12, 2022

In this episode, we talk in-depth about how, after years of working in an environment where she saw first-hand how ultra-high-net-worth clients keep and grow their wealth (and the lack of diversity among those clients), Kamila decided to build a practice that focused on providing holistic financial planning to communities of color with emerging wealth, (..)

Tax Planning 98

Tax Planning Leadership Planning Compliance 98

CFO Share

APRIL 5, 2022

Register with appropriate states and municipalities for a sales tax license. File returns and remit sales taxes routinely. While your in-house accounting team could perform steps 3 and 4, small businesses’ sales tax compliance is often outsourced entirely to agencies like CFOshare for efficiency and effectiveness.

Sales 98

Sales Auditing Compliance Tax Planning 98

Future CFO

JANUARY 15, 2024

This requires a fundamental pivot from tax planning to building as much certainty as possible into transfer pricing positions, which means being as proactive as possible in dealing with anticipated and current controversies.”

Tax Planning 52

Tax Planning Risk Management Technology Planning 52

PYMNTS

NOVEMBER 24, 2020

after the change of administrations, will include an agreement over taxing Big Tech. President-elect Joe Biden's team about trade and taxes, according to Accounting Today. French Finance Minister Bruno Le Maire’s goals will include ending a conflict over taxing Big Tech and getting the U.S.

Tax Planning 56

Tax Planning Economics Forecasting Finance 56

Spreadym

NOVEMBER 3, 2023

Saving and Investing: Develop a savings plan and investment strategy to build wealth over time. This may involve contributing to retirement accounts (e.g., Debt Management: If you have debt, like credit card debt or student loans, develop a plan to manage and pay down your liabilities efficiently.

Planning 59

Planning Strategic Planning Budgeting Forecasting 59

Michigan CFO

NOVEMBER 1, 2021

Tax Planning With Your SaaS CFO. You might be wondering, “Okay, but can my SaaS CFO handle taxes?” While your CFO is not (usually) a tax accountant, they can interface with your tax accountant on your behalf to explore all possible deductions your business might be able to claim.

CFO 52

CFO Budgeting Forecasting Tax Planning 52

The CFO College

APRIL 8, 2021

For many bookkeepers and accountants, working remotely is a reality that has breathed energy back into the passion they feel for their work and their life. Many bookkeepers and accountants tend to be a little introverted, making it a challenge to “sell yourself” and get people to take notice. You are in charge.

CFO 52

CFO Benchmarking Tax Planning Accounting 52

Boston Startup CFO

OCTOBER 13, 2015

I’m not an expert in anything related to accounting, so I reached out to one of my networks to get people I could have do these functions. So I hired a part-time accountant who sent a part-time bookkeeper every week to do our books. So I hired a part-time accountant who sent a part-time bookkeeper every week to do our books.

CFO 52

CFO Tax Planning GAAP Budgeting 52

CFO Share

JULY 13, 2023

Growth planning should include your executive team and a CPA for tax planning purposes. Accountants are conservative and tend to keep expense controls too long, constraining financial growth and hurting profitability. Determine KPIs and financial reporting to measure progress.

CFO 40

CFO Forecasting Tax Planning Advertising 40

PYMNTS

SEPTEMBER 28, 2020

As reported by Fortune, Vestager said in a statement that “the General Court judgment raises important legal issues that are of relevance to the Commission in its application of state-aid rules to tax planning cases. The Commission also respectfully considers that in its judgment, the General Court has made a number of errors of law.

Compliance 64

Compliance Tax Planning Construction eCommerce 64

Nerd's Eye View

DECEMBER 28, 2022

includes a significant number of Roth-related changes (both involving Roth IRAs as well as Roth accounts in employer retirement plans), though notably, the legislation does not include any provisions that restrict or eliminate existing Roth strategies (e.g., In addition, SECURE 2.0 backdoor Roth conversions).

Tax Planning 98

Tax Planning Securities Planning Accounting 98

Nerd's Eye View

DECEMBER 28, 2022

includes a significant number of Roth-related changes (both involving Roth IRAs as well as Roth accounts in employer retirement plans), though notably, the legislation does not include any provisions that restrict or eliminate existing Roth strategies (e.g., In addition, SECURE 2.0 backdoor Roth conversions).

Tax Planning 98

Tax Planning Securities Planning Accounting 98

Future CFO

MAY 24, 2020

Particularly, compliance (27%) is the top priority for the tax function, even as they are balancing multiple priorities like tax planning (22%), proactively supporting the wider business and capital agenda (21%), managing the tax function’s cost (16%) and positioning the tax function to provide insights (13%).

Finance 52

Finance Compliance Restructuring Tax Planning 52

Creative CFP

JANUARY 17, 2019

It all comes down to proper cash planning. Careful planning is essential. Customers are not paying on time In this day and age with fantastic cloud-based accounting technology, cash flow management is an easy problem to solve. Start by opening a separate bank account , for the purpose to save for tax payments.

Cash Flow Forecasting 52

Cash Flow Forecasting Invoicing Forecasting Manufacturing 52

CFO News Room

NOVEMBER 28, 2022

Along with designing a client’s asset allocation , optimizing asset location is another way advisors can add value as putting different investments in taxable versus tax-deferred accounts can have a significant impact on after-tax returns. Tax Planning. Retirement Planning.

Tax Planning 130

Tax Planning Planning Investments Profit and Loss 130

Planful

SEPTEMBER 22, 2016

You need to consider all of the potential outcomes of scenarios, incorporate tax planning and capital expenditures, plan for potential alterations to the budget plan that could skew financial allocation, etc. When relying on data that’s outdated or inaccurate, the budget becomes unreliable. They’re disjointed.

Budgeting 40

Budgeting Financial Planning and Analysis (FP&A) Strategic Planning Forecasting 40

CFO News Room

DECEMBER 23, 2022

Also related to Roth accounts, the legislation would align the rules for employer-retirement-plan-based Roth accounts (e.g., Also related to Roth accounts, the legislation would align the rules for employer-retirement-plan-based Roth accounts (e.g., Further, SECURE 2.0 Altogether, SECURE 2.0

Mergers and Acquisitions (M&A) 130

Mergers and Acquisitions (M&A) Planning Valuation Securities 130

Future CFO

SEPTEMBER 14, 2020

Tam noted that FP&A professionals will then need to “revisit their financing and liquidity strategies, centralize decisions for cash release upon the applications of government stimulus, and implement tax planning strategies that can reduce cash expenditures and preserve budget.”. Empowering the new FP&A professional.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Forecasting Planning Foreign Exchange 52

CFO News Room

NOVEMBER 9, 2022

Health Savings Accounts (HSAs) are one of the most popular savings vehicles because of their triple-tax advantage: account owners can take an above-the-line tax deduction for eligible contributions, growth in the account is tax-deferred, and withdrawals are tax-free if they are used for qualified healthcare expenses.

Healthcare 130

Healthcare Planning Accounting Investments 130

CFO News Room

NOVEMBER 15, 2022

And so, what we did, and I guess the advantage of being with a broker-dealer is those are now Commonwealth house accounts. Just they’re Commonwealth house accounts, so that slice of what was 6% of revenue, it goes to them. They’re just handling the existing house accounts that are there. Stacey: Absolutely.

Planning 130

Planning Accounting Compliance Math 130

VCFO

NOVEMBER 1, 2023

Tax Planning is Beneficial and Essential A wise person once said that failing to plan is planning to fail. This is certainly true in the area of taxation, where there are often opportunities to legally minimize or defer the timing of tax payments and to claim income tax credits.

Finance 91

Finance Strategic Planning Auditing CFO 91

CFO News Room

DECEMBER 26, 2022

Tax Advice Restrictions For Financial Advisors: How To Offer Tax Planning And Remain In Compliance – Despite the prominent role of taxes in financial planning, advisors are often prohibited by their compliance departments from making recommendations for a specific course of action on a certain tax strategy.

Planning 130

Planning Benchmarking Profit and Loss Communication 130

Nerd's Eye View

MARCH 10, 2023

Also in industry news this week: Altruist’s self-clearing custodial platform has gone live, offering RIAs of all sizes an alternative to larger, legacy custodians While the SEC is planning to increase the number of on-site examinations it conducts, the odds that a firm will experience an exam in a given year appear to be remaining steady From (..)

Tax Planning 88

Tax Planning Budgeting Practice Management Planning 88

Nerd's Eye View

SEPTEMBER 7, 2022

For example, advisors who use a Customer Relationship Management (CRM) tool may be able to use that tool to narrow down the list of clients to those who are good tax-loss-harvesting candidates, such as those in higher tax brackets (who are likelier to realize more value from deducting capital losses). With these three tools (i.e.,

Tax Planning 75

Tax Planning Investments Sales Planning 75

CFO News Room

DECEMBER 30, 2022

How advisors are increasingly purchasing individual bonds rather than bond funds in client accounts. will affect surviving spouses who inherit retirement accounts from a deceased spouse. In addition to previously available options for the inherited account (e.g., Another measure in SECURE 2.0

Planning 130

Planning Auditing Investments Securities 130

CFO News Room

NOVEMBER 23, 2022

Ultimately, with the potential for added wealth that solo 401(k) plans can create, making the process of managing the plan a little easier for clients is a great opportunity to provide value that the client can see from year to year. Why would someone want to make nondeductible contributions to a solo 401(k) plan?

Planning 130

Planning Mergers and Acquisitions (M&A) Investments Accounting 130

Future CFO

OCTOBER 4, 2021

There are many highlights instead of one or two along the way—be it doing the advisory work for the then largest merger in Malaysia, or a successful tax planning endeavour that bore fruit, or perhaps now, hopefully, be part of the team that saved the largest low-cost airline in ASEAN.

CFO 98

CFO Leadership Finance Tax Planning 98

CFO News Room

NOVEMBER 21, 2022

How confident are they that no year-end-tax-planning opportunities were missed across their entire client base? This lets us see which clients still need to fund their accounts to maximize their contributions before the tax deadline so that we can avoid missing a Roth contribution for eligible clients.

Planning 130

Planning Concentration Communication Tax Planning 130