A lot more contractors and businesses like yours that receive payments via CashApp, PayPal or Venmo have been bracing for getting a 2022 Form 1099-K for income received from business transactions over third-party payment networks. That's because the Form 1099-K…
Payments and Transactions
Reminder: If you're like many businesses that took IRS up on the pandemic-related relief offer in 2020 to put off paying Social Security taxes, the last payment installment is due by December 31st. If you're experiencing deja vu, there's a…
Your A/P staffers have seen their share of outrageous business expense reimbursement requests from employees. But how do they compare to the “Craziest Expenses” for 2022 compiled by global expense management company Emburse? See if you can guess which business…
Rising interest rates across the board have been a fact of life lately. Therefore, it should be no surprise that the Service announced more interest rate bumps for Q1 2023 in Rev. Ruling 2022-23. Effective January 1, 2023, the new…
Imagine that someone in A/P got fooled by a bogus invoice in a phishing email and paid hundreds of thousands of dollars to a cybercrook, but you didn't find out about it until long after the fact. That's what happened…
Your A/P staffers are well aware of the ways state revenue departments make life complicated with their ever-changing sales & use tax laws. Seasoned A/P pros are typically able to follow the logic behind some of the unusual sales &…
Until now, there haven't been any specific accounting rules for cryptocurrency assets you may have. After all, crypto economics can be volatile. The price of bitcoin fell from $47,816 in January to $19,557 this month, according to YCharts. After putting…
As you may have expected, almost every state has an economic nexus law requiring certain out-of-state sellers to collect and remit sales tax (the exceptions are Delaware, Montana, New Hampshire and Oregon). But what you might not be aware of…
We’ve all been there: inaccurate vendor payments disrupting cash flow and costing your company a bundle. And there are so many reasons why they happen. Maybe an A/P staffer got distracted and didn't record a payment at the time it…
One nice thing about fixed expenses is that they stay constant and usually don’t fluctuate. The bad news, they’re usually set in stone and can’t be cut if you’re looking to lower expenses. But according to Aaron Evett, director of…
To accommodate the needs of as many vendors as possible, your business may need to use a combination of electronic payment methods. Electronic payments are a win-win. Your vendors will love that they can get paid faster and your CFO…
B2B late payments can be a potential major pain point for your company, leading to late fees, missed opportunities for early payment discounts, duplicate payments when a vendor sends a second invoice for the same bill and other problems. Research…
