Treasury: MiABLE Account Holders Increase by More Than 60% in a Year

The Michigan Achieving a Better Life Experience program saw the number about account holders rise by more than 60% within the last year, according to the Michigan Department of Treasury.

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Accountants Leverage RPA Amid Coronavirus

Robotic process automation has been spreading across accounting and finance departments, according to a report from the Institute of Management Accountants. That trend may accelerate as companies deal with the novel coronavirus pandemic and look for ways to cut costs.

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Executive Order Delays Workers’ Payroll Tax Payments

President Donald Trump on Saturday issued an executive order to defer the withholding, deposit, and payment of certain payroll taxes paid from Sept. 1 through Dec. 31, 2020. The presidential memorandum was one of four the president issued on Saturday as congressional negotiators struggle to find agreement on a bill to extend relief during the COVID-19 pandemic.

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Trump Orders Extended Jobless Benefits & Payroll Tax Deferral

President Donald Trump announced four executive actions on Saturday, including continued expanded unemployment benefits and a temporary payroll tax deferral for some workers, as the coronavirus pandemic continues to hobble the U.S. economy.

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Employers Added 1.8M Jobs In July

Employment rose by 1.8 million jobs in July, including 900 in accounting and bookkeeping services, and the unemployment rate fell to 10.2 percent from 11.1 percent, the U.S. Bureau of Labor Statistics reported Friday, as the economy showed signs of recovery despite the spread of the novel coronavirus across many parts of the country.

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News Finance

FASB Simplifies Accounting for Convertible Instruments

FASB issued a new standard Wednesday that is designed to simplify financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.

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Small-Business Owners Have Until Aug. 8 to Apply for PPP

Saturday, Aug. 8 is the last day small businesses can apply for a forgivable loan through the Paycheck Protection Program. At least 60% of the proceeds must cover payroll expenses in order to be eligible for forgiveness.

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How to Make a Financial Plan

With everything so up in the air, it can be hard to make any sort of plans, whether it be a vacation or even a trip to the movie theater. But a financial plan is one you probably want to work on, or revisit, especially if you have been financially impacted by the pandemic. And despite the uncertainty, planning could be a way to reduce some of your anxiety about the situation, experts say.

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Want People to Listen to You in Zoom Meetings?

What's even worse than having to attend half a dozen Zoom or other video chat meetings during the working day? Attending all those meetings and feeling like you might as well have skipped them because no one was listening to your input or your ideas. That happens much too often to entrepreneurs, solopreneurs, business leaders, and employees.

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The 6 Biggest Technology Trends In Accounting & Finance

The explosion in data that has launched the Fourth Industrial Revolution, an era when business will be transformed by cyber-physical systems, has enabled several technology trends to develop. Every business can leverage these important trends and should pay attention to how best to use them, but accountants should really evaluate how these six technologies can be used strategically to achieve the company’s business strategy.

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