Stay sharp, finance pros. IRS just published guidance on security awareness, warning you to watch out for scams in late 2020 and early 2021. Right now, criminals are taking advantage of every situation they can to carry out scams –…
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If your company “reasonably” expects to receive forgiveness for your Paycheck Protection Program (PPP) loan in that taxable year, you cannot deduct your PPP expenses. So says just-released IRS Revenue Ruling 2020-27. Companies have long had questions about timing of…
The bag checks many companies require to prevent costly losses may actually cost you more in payroll, as the time spent doing them is probably compensable. Nowadays, more courts are saying that that time spent on the bag checks employees…
As the pandemic rages on and year-end creeps closer, employee burnout is rearing its ugly head at companies everywhere. About a third (34%) of workers feel more burned out from work now than they did this time last year, found…
One of the biggest benefits of automation is it can streamline some of your finance staff’s most time-consuming, manual tasks. As a result, your team can devote more of their workday to strategic work, and your company can reap new…
How far can states go when requesting and assessing your company's finance records in an unclaimed property audit? A recent court case, State of Delaware, Department of Finance v. AT&T Inc., helped to set the record straight. As you know,…
Going forward, you may need to change the way you pay some people, thanks to worker classification changes in the Golden State. You’ll recall that California’s AB 5, which took effect on Jan. 1, 2020, codified the three-part ABC test…
Update: IRS finalized and published these business expense regulations in the Federal Register, effective Oct. 9, 2020. It’s about time! There’s finally more clarity to help your company correctly deduct certain business expenses on your tax returns. IRS recently posted…
Here’s new insight for your finance department on how to compliantly reimburse delivery drivers for their mileage expenses. As you know, per the Fair Labor Standards Act (FLSA), companies must pay nonexempt employees at least minimum wage for all the…
If employees take issue with their compensation, we have encouraging news. A new court ruling on bonuses shows the legal burden to prove any missteps may be on employees. That's the upshot of a recent federal appeals court ruling. This…
Right now, health and safety are major concerns in the business travel sphere, making contactless payments an appealing option for companies. In fact, contactless payments (e.g., mobile pay) could see a major surge due to the coronavirus pandemic. And they…
You and your finance department have heard the hype about blockchain technology. Maybe it’s piqued your interest and you’ve spent time looking into it. Perhaps you’ve even started implementing it in your company’s finance operations, purchasing workflow or other key…
