Here’s the Annual Tax Calendar and the Last Day to File Taxes This Year

PHILIP TAYLOR | May 9, 2016

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No big surprises this year. The last day to file taxes in 2016, for the 2015 tax year, is April 18, 2016. This is a few days later than the normal mid-April date since Washington, D.C., will celebrate Emancipation Day on the 15th. In the past it’s also been pushed back because of the way the weekend falls and because of the holiday.

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OTHER ARTICLES

What is the difference between depreciation and amortization?

Article | August 7, 2020

Both depreciation and amortization are ways of expensing the cost of a business asset over its useful life period. When a company acquires a business asset, the complete cost of acquisition of the asset is not expensed at once, but proportionately based on the time period of their usage. In essence, both depreciation and amortization mean the same thing. While depreciation refers to the proportionate reduction in the cost of fixed assets or tangible assets over its lifespan. Fixed assets or tangible assets could include things such as a plant, machinery, tools, equipment, etc.

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What is the best accounting software for small businesses?

Article | August 10, 2020

The world of accountancy software has changed significantly during the course of the last few years and in this blog we are going to attempt to unravel the minefield of online accounting software to give you a clear understanding. Small business accounting is a huge area in which many small business owners struggle to get right. To find the best accounting software for small businesses in the UK we must first assess what cloud accounting is.

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Coronavirus Hits Economy. How Fintech is Affected?

Article | March 7, 2020

From stock market swings and billions wiped off of the airlines, hotels, transportation revenues to drug, soap or iPhone replacement shortages – the coronavirus outbreak is taking its toll on many business aspects of life. Euler Hermes calls this a "quarantined trade". The company's analysts estimated that Covid-19 costs $320bn of trade losses every quarter. But what about fintech? It’s not immune to the virus either. As the side effects of Covid-19 will be unfolding in the weeks to come, we’ll see some fintech or finance companies taking hits. But other companies or solutions will be gaining traction.

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THE DIGITAL TIPPING POINT IN FINANCIAL SERVICES

Article | May 27, 2021

There is a huge transformation underway in the financial services industry. Over the past year – as a result of the COVID-19 pandemic – clients have been forced to take on more of an active role in monitoring and planning for financial uncertainty. But the big change is that these clients have become much more emotionally invested in their organisations’ financial wellbeing. In a time where everything is digital first, it’s no surprise that many clients want to be able to search for answers themselves, escalate issues quickly and receive the support they need to better navigate the uncertain economic landscape, at speed. Of course, as clients demand a smoother and more fulfilling experience, we’re seeing a shift in how financial services companies manage their business model for success in the long term. Whilst, stereotypically, the financial services industry has been considered ‘old school’, and in many cases still lags behind other industries in the digital transformation race, the pandemic is proof in point that relying on legacy systems is just not an option for the sector anymore. Thriving during turbulent times The good news is that many organisations in the sector are already rising to the challenge, adjusting their products and services to meet the needs of customers who might have been struggling through the pandemic themselves. Siemens Financial, a division of Europe’s largest manufacturing company, for example, moved quickly to scale their service to meet surges in customer needs. The financial arm provides B2B financing solutions to a large client base covering both small businesses and large corporations. When the pandemic struck, while the company was quickly inundated with requests for support, they had the right mindset and tools already in place to keep things running smoothly. At the onset of the pandemic, the organisation witnessed a 30 percent increase in customer support ticket volumes. Like with all other businesses operating in the service industry, the team were challenged with managing a huge influx in client requests, whilst maintaining their core offering of delivering a personal service to every client. Based on a data-driven decision, the team moved its entire operation online, within 48 hours. In doing so, they were able to respond to new tickets during the peak of the pandemic within just six to seven hours, plus decrease resolution time from 24 hours to little more than eight. What’s more, they quickly moved the entire team to a remote working set up. Frictionless digital services are paramount to remaining resilient in the face of COVID-19. Of course, for all organisations, this means saying goodbye to those spreadsheets used to track customer data and instead, embracing custom built support solutions providing real-time insights to support businesses in making decisions, at speed. Investing now, for a successful future However, for organisations who have more traditionally operated off of old or outdated legacy systems, it can be hard for them to visualise what a more digital way of operating could look like in practice. As you think about the road to recovery, it might therefore be worth considering where to invest first for the best return. For example, according to the Zendesk Customer Experience Trends Report 2021, 67 per cent of customers are willing to spend more at a company providing them with a good experience. Whilst it may feel like the thriving organisations are the ones investing lots of money into CX technology, it’s clear that investment - or lack thereof - is being felt by customers too. We’ve reached the digital tipping point - where holding at the status quo will actually put companies further and further behind. It’s about equipping your employees with the right technology, at the right time. We saw that Siemens Financial could keep track of customer conversations remotely, with minimal disruption. This is because the flexible platform they used to keep track of the customer experience provided their service agents with a 360 view of all clients’ prior interactions with the team. For example, whether they’ve used WhatsApp, the phone, or email to communicate with the brand, for customer experience agents using an omnichannel platform, the conversation looks the same.

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Spotlight

Bain Capital

Bain Capital is a leading, private, multi-asset alternative investment firm with offices in Boston, New York, Chicago, San Francisco, Palo Alto, London, Munich, Dublin, Hong Kong, Tokyo, Shanghai, Mumbai, Melbourne and Sydney. Founded in 1984, Bain Capital has approximately $75 billion in assets under management and more than 900 employees worldwide.

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