Category Archives: Education

Education, Illinois, Tips

2015’s Most & Least Fair State Tax Systems

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WalletHub just released what I find to be a fascinating and well-analyzed study of state tax systems in the United States, evaluating each on many criteria that, combined, represent what a “fair” tax system might look like.  (Local folks, FYI: Illinois scored near the bottom.)

With loads of great charts and graphs, this report is worth a read, if only to examine whether you agree or not with their evaluation of what makes a tax system “fair”.  Interesting philosophical discussion that should be fascinating to many, not just us tax accountants.

Read the report here: 2015’s Most & Least Fair State Tax Systems | WalletHub®

Education, Illinois

FREE Small Business Workshops in Chicago

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The City of Chicago is going nuts with the workshops this month.

Their biggest event, Small Business Center on the Road, takes over the 12th floor of the Merchandise Mart on September 19th from 10 am-2 pm.  Among the 40+ exhibitors will be various local Chambers of Commerce, the Department of Revenue and Secretary of State, as well as consultants from the Small Business Center.  They’re offering a tax clinic, legal clinic, workshops on marketing, financing, and social media, and City of Chicago Business Consultants ready to help with licensing needs and answer questions.  Register at chismallbizexpo.com — it’s FREE!

 

Also, The City of Chicago’s Outreach & Education group is offering a bunch of workshops this month.  Please share with friends, family, or colleagues who could use the assistance!

 

How to Obtain a Mobile Food Dispenser/Prepare License

Presented by the City of Chicago Department of Business Affairs & Consumer Protection (BACP). 

This workshop will give you all the information you need to become either a Mobile Food Dispenser (MFD) or Mobile Food Preparer (MFP) licensed food truck operator. We will walk you through the MFD/MFP licensing process including inspections, the application, mobile food vehicle, and operational requirements, as well as the optional pre-application Mobile Food Vehicle Assessment.

Wednesday, September 16th

3:00 p.m. to 4:30 p.m. 

121 N. LaSalle

8th Floor – Room 805

 

Small Business Success

Presented by YWCA Metropolitan Chicago 

Learn the ins and outs of starting a small business and gain insight that will help you reach your goals. This workshop will cover starting your entity, marketing it for success and the intangibles of navigating the start-up arena.

Friday, September 18th

9:30 a.m. to 11:00 a.m. 

121 N. LaSalle

8th Floor – Room 805

 

How to Efficiently Manage Business Operations

Presented by Illinois SBDC at the Chicagoland Chamber of Commerce and Blackwell Energies 

This workshop will focus on operations management and how to find savings at the operational level. It will cover operations management, energy and utilities, and other areas where savings can be obtained in the operation of a business. You will learn techniques that can quickly result in savings on operational costs and fatten your bottom line in the process!

Wednesday, September 23rd

3:00 a.m. to 4:30 p.m.

121 N. LaSalle

8th Floor – Room 805
LinkedIn: Converting Connections to New Business

Presented by Digital Professional Institute and Dean DeLisle, Founder and CEO of Forward Progress

Dean DeLisle, Founder and CEO of Forward Progress, will take proven steps from our Social Selling Boot Camp and show you the most effective methods of connecting with your targets, gaining quality appointments, and finding the potential new clients in your network. You will also see what it takes to get THEM to find YOU by using LinkedIn for less than 20 minutes a day! Topics include optimize your profile, attract new prospects, leverage your connections to close business, increase targeted referrals, gain more powerful introductions, expand your pipeline and find new business channels.

Friday, September 25th

9:30am to 11:00am

121 N. LaSalle

8th Floor – Room 805

 

Protecting your Tech Start Up: Legal Considerations

Presented by Lema Khorshid, Fuksa Khorshid, LLC

Before opening the doors to your new technology concept, it’s important to be aware of legal risks that exist so you can properly protect your business. This workshop will explore different sources to fund your business venture and teach you some basic principles of how to protect yourself in litigation. We will also discuss intellectual property laws and provide practical approaches on how to implement a solid intellectual property plan. Also, we will talk about important employment laws as well as review lease agreements to help demystify confusing legalese.

Wednesday, September 30th

3:00pm to 4:30pm

121 N. LaSalle

8th Floor – Room 805

Education, IRS, Tips

Business Taxes for the Self-Employed – Aug 26

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The IRS is offering a webinar on business taxes for self-employed folks — that means those of you who file Schedule C as part of your personal tax return.  You may be an independent contractor, a sole proprietor, or a single-member LLC — Schedule C applies to all of those situations.

The webinar is offered on August 26, 2015, at these times:
2 p.m. Eastern Time
1 p.m. Central Time
12 p.m. Mountain Time
11 a.m. Pacific Time

The IRS presenters will cover the following topics:

-Reporting profit or loss from a business or profession
-Self-employment tax and estimated tax payments
-Schedule C and C-EZ
-Deducting business expenses
-Husband and wife businesses
-Recordkeeping

For more information and to sign up, click here: Internal Revenue Service Webinar Registration Page

Please spread the word to your self-employed friends and colleagues!

Education, IRS, Tips

IRS Webinar on Affordable Care Act Provisions for Employers

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Small business employers — I can’t encourage you strongly enough to attend one of the upcoming IRS webinars on provisions in the Affordable Care Act (ACA) that apply to YOU.  It’s not enough to presume your accountant or HR consultant will reach out and hold your hand through this process… you need to take charge and get educated about what expectations your employees and the IRS will have of you, and how to meet those requirements.  It only takes an-hour-and-a-half, and you’ll be a better employer and business owner for it.  Aug 20, 1–2:30 pm and Sep 16, 1:30–3 pm.

Source: Webinar Series offered on Affordable Care Act Provisions for Employers and Coverage Providers

Education, Site News

Speaking 8/4 at the NSAC Annual Conference in Denver, CO

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I’m only half-a-day into the annual NSAC Conference and am yet again inspired to spread the word about how cooperatives are so well-suited to allow for positive change in our world.  By eliminating the traditional shareholder/investor structure and replacing it with the role of servicing members/owners — giving them an active voice in governance and focusing on their needs — we encourage workers and stakeholders to participate in a democratic process that creates a sense pride to all involved.

I’ll be speaking tomorrow at 1:15 pm, along with Pat Sterner from NCBA and Phil Miller from NSAC, on the topic of cooperative types that are less familiar to NSAC members: grocery co-ops, housing co-ops, daycare co-ops, and worker co-ops, as well as healthcare co-ops and buying/sharing clubs.  If you’re in the Denver area or are already attending the conference, I’d love for you to join us.

I met two great speakers today, Adam Schwartz, founder of The Cooperative Way (favorite quote of the day: “If you’ve seen one co-op… you’ve seen one co-op.”), and also a part of the CDS Consulting Co-op; as well as Vern Dosch, of the National Information Solutions Cooperative, and author of “Wired Differently” — an inspiring book about leadership through service, and how to attract and retain talented employees with a positive company culture.

If you’re not familiar with cooperatives, or even if you are, but need reminding about why they’re so special, let me share with you the seven principles all cooperatives hold dear.  They were summarized in so many different ways this morning, including Helen Keller’s great quote: “Alone we can do so little; together we can do so much.”

1) Voluntary, Open Ownership: Cooperatives are voluntary organizations, open to all people able to use its services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.
2) Democratic Owner Control: Cooperatives are democratic organizations controlled by their members—those who buy the goods or use the services of the cooperative—who actively participate in setting policies and making decisions.
3) Owner Economic Participation: Members contribute equally to, and democratically control, the capital of the cooperative. This benefits members in proportion to the business they conduct with the cooperative rather than on the capital invested.
4) Autonomy And Independence: Cooperatives are autonomous, self-help organizations controlled by their members. If the co-op enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative’s autonomy.
5) Education, Training And Information: Cooperatives provide education and training for members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.
6) Cooperation Among Cooperatives: Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.
7) Concern For The Community: While focusing on member needs, cooperatives work for the sustainable development of communities through policies and programs accepted by the members.

Hope to see you in Denver.  Give me a shout-out on the 2015 TFACC app if you’re here!  If not, let’s plan ahead for the upcoming NCBA Co-operative Professionals Conference this November 9-11 in Minneapolis, MN.  I’m co-chairing the Co-ops 101 Pre-Conference and would love to see lots of attendance by accountants who wish to expand their services to include co-ops.

Education, IRS, Tips

IRS Webinars for Small Businesses

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Did you know the IRS offers free webinars for small business owners?  From topics as diverse as the ACA to disaster recovery to tangible property regulations, I recommend to many of my clients that they bookmark the site and check back regularly to see what new topics are being offered.

Check it out here: Webinars for Small Businesses

Spread the word — why?  Because educated clients are more likely to run successful businesses.

Education

Chicago Seminar: Developments in Workplace Law and Practice 2015

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My friend and client’s law firm is giving what looks to be a great seminar on employer/employee labor law from 8-11:30 am on June 4th at 190 South LaSalle, in the Library. Please pass this along to any employers or HR folks you know who might benefit.

Topics include:

– Affordable Care Act (“ACA”) for 2015 and Beyond
– Important Updates for Employee Conduct Rules and Employee Handbooks
– Would Your Company Be Ready for a Union Election in Less Than Two Weeks?
– What’s New for Illinois Employers in 2015?
– Cybersecurity, Breaches and Everything in Between: What Employers Need to Know to Avoid Becoming Target, Home Depot or Anthem
– Immigration Compliance Update

ABOUT THE PROGRAM
Duane Morris’ annual Developments in the Workplace Law and Practice seminar series provides our clients and friends with a comprehensive update of important employment, labor relations, benefits and immigration law developments over the past year, as well as imminent changes that may seriously impact their businesses. Emphasis is placed on understanding the practical implications of these developments and the key strategies that immediately can be implemented to deal with them efficiently and effectively.
Join Neville Bilimoria, Lawrence Davidson, Bruce Kasten, Jennifer Long and Lisa Spiegel, who will discuss the following topics:
Affordable Care Act (“ACA”) for 2015 and Beyond
Learn what actions employers should take if the ACA subsidies are disallowed by the U.S. Supreme Court.
Hear the latest developments for benefits rules applicable to same-sex spouses.
Important Updates for Employee Conduct Rules and Employee Handbooks
Learn why the NLRB thinks your work conduct rules and employee handbook policies violate the NLRA and what you should do about it.
Would Your Company Be Ready for a Union Election in Less Than Two Weeks?
Find out what to do now to be prepared under the new NLRB “ambush” election rules.
What’s New for Illinois Employers in 2015?
Learn the latest legal developments on an employer’s obligation to reasonably accommodate an employee’s pregnancy, childbirth or related condition(s), and how to respond to requests for accommodation and leaves of absence.
Find out whether your applications and hiring process satisfy new state law requirements that “ban the box” for criminal conviction inquiries.
Cybersecurity, Breaches and Everything in Between: What Employers Need to Know to Avoid Becoming Target, Home Depot or Anthem
Learn how to avoid and manage breaches in privacy and security and how HIPAA privacy and security rules may affect you and your company, even if you are not a healthcare provider. These rules carry stiff penalties and enforcement actions that will take your breath away.
Immigration Compliance Update
Hear about the latest developments and trends in I-9 and work visa compliance, including what triggers immigration investigations by the USCIS, DHS, DOL, DOJ and SEC. This session will also explore best practices for avoiding and responding to immigration audits and investigations.

Source: Duane Morris LLP – Developments in Workplace Law and Practice 2015

Education, IRS, Tips

Small Business Health Insurance Credit ONLY Available to “SHOP” Participants

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(Inspiration for this post: I just met my FOURTH health insurance agent that did not enroll their small business employer client in a SHOP Marketplace plan. And this client is a not-for-profit that was counting on the credit.  It’s thus far been one of my major sources of stress this tax season.)

PUBLIC SERVICE ANNOUNCEMENT — The small business health insurance credit is ONLY available in 2014 & 2015 IF the small business buys employee health insurance through SHOP. Please check with your agent for 2015 to avoid any unpleasant surprises.

See if you qualify to purchase insurance through SHOP, here:
https://www.healthcare.gov/small-businesses/provide-shop-coverage/qualify-for-shop-marketplace/

We’re talking about a 35-50% credit for what you paid for employee health insurance. Insurance agents are often not doing this on behalf of clients; be proactive. And please spread the word to your small-business-owner friends:  https://www.healthcare.gov/small-businesses/provide-shop-coverage/shop-marketplace-overview/ .

Also — The U.S. Small Business Administration has numerous articles and webinars on the Affordable Care Act for small business owners.  A great resource for non-tax-professionals.  More SBA resources and a link to an archived audio recording on the topic, here: https://www.sba.gov/content/affordable-care-act-training-materials .

It breaks my heart when I have to tell small business owners that they don’t qualify; then they put me in touch with their agent, who acts defensively and tells me to stop telling them how to do their job, instead of a being a partner to their client.  All I’m saying is I’ve seen it too many times and I’m not arguing with any more brokers.  I’m just sending them to this post.

For the record, I understand that there are other reasons than a tax credit to choose a particular health insurance plan, and that’s fine — if the client is informed that they will not qualify for the credit, and chooses to get a non-SHOP plan for other reasons, that’s fine by me.  But they need to know what they’re giving up to do it.

Education, QuickBooks Software

QuickBooks Accounting Virtual Conference: May 19-20

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The agenda is up and registration is open.  Another announcement about one of the other big QuickBooks conferences of the year — this one entirely free and virtual.  Offered by the same company that puts on Scaling New Heights, the biggest QuickBooks training event of the year.  See more on these and other annual conferences in an earlier blog post of mine.

QuickBooks Accounting Virtual Conference – May 19- 20 – intuitiveaccountant.com.

Education, POS - Point of Sale, QuickBooks Software, Software

Scaling New Heights 2015 Keynote Speakers Announced

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The keynote speakers for June’s big Intuit education conference in New Orleans, Scaling New Heights, have been announced, and schedules and track listings are now updated.

In case you’re not sure what this conference is all about, please see my blog post on QuickBooks-related training from a couple months ago.  This conference is one of the biggies!

Scaling New Heights 2015 Keynote Speakers Announced – intuitiveaccountant.com.