Sat.Feb 27, 2021 - Fri.Mar 05, 2021

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IRS Releases 2021 Versions of Forms 1099-R and 5498 and Instructions

ThomsonReuters

IRS Form 1099-R (Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.) (2021); IRS Form 5498 (IRA Contribution Information) (2021); Instructions for Forms 1099-R and 5498 (2021); General Instructions for Certain Information Returns (Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G) (2021).

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Fair Business Valuation When Terminating a Partnership

Shuster & Co.

Business partnerships are formed for many reasons, and many people find decades of success with the right partner. Sooner or later, nearly all partnerships come to an end. In many cases, a major life event, such as retirement, a change in health, divorce, etc. or conflicting viewpoints between partners may prompt a dissolution. Ideally, during the company’s founding, a dissolution procedure would have been outlined in the partnership agreement, but this isn’t always the case.

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Quantive Advises Tiger Innovations on Sale to General Atomics

Quantive

Quantive is pleased to announce that it acted as exclusive financial advisor to Tiger Innovations in its sale to General Atomics. Tiger is a leader in the development of cutting edge satellite systems and related space support systems for various US Government entities. “Acquiring Tiger Innovations strengthens our space systems capabilities,” stated Scott Forney, president […].

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SPAC Trend Gives Rise to Securities Enforcement and Litigation Risks

Cooley M&A

What is a SPAC. Special purpose acquisition companies (SPACs) are on the rise. A SPAC is a publicly traded shell company with no underlying operating business that seeks to merge with a target operating company. According to Nasdaq , in 2015, SPACs made up approximately 12% of the IPO market, but by 2020, that number had risen to approximately 53%. SPACs are predicted to be an even higher percentage of the 2021 market share, with SPACs representing 79% of the January IPOs.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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FAQs (Part 44) Clarify Health Plan Coverage of COVID-19 Tests and Vaccines

ThomsonReuters

FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 44 (Feb. 26, 2021). FAQs. News Release. The DOL, IRS, and HHS have issued another round of FAQ guidance addressing implementation of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) for group health plans.

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Find a Buyer for My Managed Service Provider: What If The Buyer Screws Up My Company? (And…Who Will I Be Without My Career?)

IT Valuations

So, you’re struggling to let go. It can feel excruciating to let go of that precious vine, can’t it? It’s like an extension of your very own life, which you sweat blood and tears to grow and nurture. I get it. As an owner, I am walking in those same shoes. When you’re faced with the real possibility of not knowing an outcome, one which you have very little control over, the ensuing anxiety can be crippling.

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Can Members of Our Company’s Board of Directors Participate in Our Cafeteria Plan?

ThomsonReuters

QUESTION: I’ve been asked whether members of our company’s board of directors can participate in our cafeteria plan. Can we allow this? ANSWER: Generally, board members may not participate in your cafeteria plan because participation must be limited to employees. Therefore, members of your company’s board of directors who are not employees of the company (“outside directors”) cannot participate in your company’s cafeteria plan.

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DOL Clarifies Duration of COVID-19-Related Deadline Extensions

ThomsonReuters

EBSA Disaster Relief Notice 2021-01. Available at [link]. The DOL has issued EBSA Disaster Relief Notice 2021-01, clarifying the duration of certain COVID-19-related deadline extensions. As background, the DOL and IRS issued guidance last year specifying that the COVID-19 outbreak period—defined as the period beginning March 1, 2020, and ending 60 days after the announced end of the COVID-19 national emergency—is disregarded when calculating various deadlines under COBRA, ERISA, and HIPAA’s spe

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IRS Issues 2020 Form 2106 and Instructions

ThomsonReuters

IRS Form 2106 (Employee Business Expenses) and Instructions (2020). Form 2106. Instructions. The IRS has released the 2020 version of Form 2106, used to determine and claim employee business expense deductions. The form and its instructions are substantially similar to the 2019 versions, but they have been revised to take into account changes to the standard mileage rate, depreciation limits on vehicles, and updates to forms and schedules referenced in Form 2106.

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Global Trade Technology Can Help Solve Brexit Supply Chains

ThomsonReuters

Less than a month after the UK completed its separation from the European Union, Britain’s five largest business groups warned the government that companies were facing substantial difficulties moving goods through UK ports. Indeed, trade compliance concerns persist that Brexit will adversely impact business performance in the coming months and years as a result of border and customs disputes, supply chain shortages and disruptions, shipping delays, and stoppages, increased import and export cos

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Mergers & Acquisitions 101 For Managed Service Providers: Why Your M&A Transaction Should NOT Resemble a Crime Scene

IT Valuations

M&A is a lengthy, time-consuming process that can be ruthlessly unnerving. When done right, however, it can yield attractive transaction value. When done right, it doesn’t feel like you sold your puppy to the butcher, either. In order to avoid your M&A transaction becoming violent, you need to remember one thing: your transaction is all about adding value to the target company.

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Life After The Sale and Acquisition of My MSP & Technology Business: Why is Change So Hard?

IT Valuations

For many tech owners we talk with, we hear a similar story and dream: Start a small tech firm. Build it into a powerhouse. Get acquired by a massive corporation, entering into a whole new tax bracket. The journey to eventually selling your tech firm can be a long one, full of some highs, such as celebratory moments where growth goals are achieved, people are hired, and milestones are met.

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Acquire Another IT Services Firm: I Want to Acquire Another Technology Provider. How Without Going Nuts From the Stress?

IT Valuations

The journey of building a tech firm is filled with milestones. First hire (first fire). First big investment. First big client. However, what’s not often talked about is the milestone of making your first acquisition. I realized this as I helped navigate more than 60 merger and acquisition (M&A) transactions, over the last 20 years. Recognizing an acquisition opportunity is just the first step in what can be a long and complicated, yet extremely rewarding process.

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How to Find a Technology Services Firm to Buy: I Can’t Find the “Right Fit” to Acquire

IT Valuations

Like Goldilocks and her quest for the perfect bowl of porridge, the mythical “perfect fit” isn’t possible, but finding the “right fit” is very necessary. The “right fit” is a deeply personal definition. It’s specific to the cultures of your tech firm and the one you’re searching for. It’s specific to the people who live and work inside both of these excellent firms.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Grow Through Acquisition: How Sales & Marketing Will Maximize Valuation and Growth For Your IT Services & Technology Business

IT Valuations

Sales and Marketing should always be working towards the same goal: securing business and helping their technology firm grow. Candidly, this is probably one of the most challenging things for tech companies to master. Before we get into the subject of Sales and Marketing, you should know that Sales and Marketing impacts the value of your business by as much as 20%.

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Tax Data Software: Four Ways to Future-Proof Your Tax Department

ThomsonReuters

Business leaders are looking for opportunities in disruptions as they prepare their companies for the future, and tax technology should be a part of their plans. With the right tax data software, your tax department can save money by automating and standardizing processes across the organization and enhancing accuracy and timeliness. You can liberate your tax professionals for more strategic work that adds value to the business.

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DOL Delays Effective Date of FLSA Independent Contractor Regulations

ThomsonReuters

Independent Contractor Status Under the Fair Labor Standards Act (FLSA): Delay of Effective Date, 29 CFR Parts 780, 788, and 795, 86 Fed. Reg. _ (March 4, 2021). Available at [link]. The DOL has decided to delay to May 7, 2021, the effective date of final regulations under the Fair Labor Standards Act (FLSA) to determine whether a worker is an employee or an independent contractor (Independent Contractor Regulations).

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Last Week in Payroll: In Like a Lion; Out Like a Lamb

ThomsonReuters

Remuneration is the money paid for work or a service. In ancient Egypt, workers were remunerated for their labor with beer and other necessary commodities (i.e., bread, meat, clothing, etc.) and payment was recorded on clay tablets. In the early 1900s, automobile engineer Henry Ford made headlines for paying remuneration at two times the going hourly wage at the time – $5 per hour – to many of his employees.