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Planning amid Uncertainty: Tax Considerations Business Owners Should Keep in Mind as 2021 Begins

by Kris Yamano

Businesses, no doubt, are eager to leave behind the uncertainty of 2020 for a much more stable 2021. But the truth is that many of 2020’s uncertainties will hang over into the new year. That is why now is the right time to get a jumpstart on 2021 tax planning. Here are several key considerations businesses should weigh as they prepare their 2020 taxes and plot out their tax … [More]

Accounting & Operations  |    |  

Revised 2021 TPT Electronic Filing and Paying Threshold Goes from $5,000 to $500 Jan, 1

Arizona Department of Revenue

Under legislation enacted in 2017, businesses with an annual transaction privilege tax (TPT) and use tax liability of $500 or more during the prior calendar year will be required to file and pay electronically starting in February 2021 for the January reporting period. The revised 2021 threshold of $500 is a change from the 2020 level of $5,000. E-filing and paying are … [More]

Accounting & Operations  |    |  

Remote Work Causes Tax Issues for Both Workers and Employers  

Rice University’s Baker Institute for Public Policy

As employers evaluate whether remote-work arrangements are a viable long term option, they should consider that these seemingly innocuous arrangements can trigger tax issues for both workers and their employers, according to an expert from Rice University’s Baker Institute for Public Policy. “Although the pandemic and the resulting telecommuting arrangements will not have … [More]

Accounting & Operations  |    |  

Top 5 Cybersecurity Policies to Keep Your Remote Business Alive

by Corey McReynolds

The National Cybersecurity Alliance says, “If you connect it, protect it.”  Currently, two out of 10 people work remotely from home full time according to Owl Labs blurring the lines between business/personal environments. This can expose both teleworker and their business to unique cyber threats and attacks.  That’s why creating cybersecurity policies and procedures to reflect … [More]

Accounting & Operations  |    |  

5 Tips to Avoid ERP Failure and Turn 2020 Disruption into Success

inbusinessPHX.com

The trials of 2020 have put many businesses in a mode of transformation. For some, that can mean changing anything from their internal operations to the services and products they offer. Due to advancements in digital technology, massive change was well underway in numerous industries before the pandemic. Enterprise resource planning (ERP) has been a central part of those … [More]

Accounting & Operations  |    |  

If Cash Is King, then Working Capital Is God

by Dennis Niven

Working capital management is the most important management activity in emerging and mid-sized companies because of the significant financial impact that it has on the company’s well-being. While most CEOs and business owners have heard and accept that “Cash is King,” working capital is often the least understood and most poorly managed area of their companies. When working … [More]