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Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Monday, August 2 Employers report income tax withholding and FICA taxes for second quarter 2021 (Form 941) and pay any tax due.
7 Small Business Trends that Arrived Just in Time for 2021 written by John Jantsch read more at Duct Tape Marketing. In 2021, as in most years, businesses will thrive and survive due to many factors, but next year those who best discover the shift of the moment will be more equipped to evolve with their customers.
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. The post Key Q4 2021 Tax Deadlines for Businesses appeared first on Roger Rossmeisl, CPA. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
The recent stimulus legislation, the Consolidated Appropriations Act of 2021, (CAA 2021) included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. This rule applies to expenses paid or incurred in calendar years 2021 and 2022.
Paycor surveyed more than 2,000 HR and Finance leaders about the state of American businesses. Here are some examples of what we found: HR is more bullish on both the short- and long-term. Finance leaders are more confident in their ability to manage change. 86% are concerned about mental health, but very few have a plan.
Here are some of the key Q1 2021 tax deadlines affecting businesses and other employers. In addition to the Q1 2021 tax deadlines, contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. The post Q1 2021 Tax Deadlines for Businesses appeared first on Roger Rossmeisl, CPA.
The CARES Act, which passed last March, allowed people to skip taking these withdrawals in 2020 but now that we’re in 2021, RMDs must be taken again. The post Taking Required Minimum Distributions in 2021 appeared first on Roger Rossmeisl, CPA. In general, RMDs are calculated using life expectancy tables published by the IRS.
An economic contraction that might extend through 2021. In Paycor’s newest report, our Chief Executive and Group Leaders consider how SMBs will recruit, manage their workforce, optimize benefits, and foster employee experience in the new normal of 2020 and beyond. In just a few months, everything changed: 30 million unemployed and counting.
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. The annual gift tax exclusion has increased in 2022 to $16,000 but was $15,000 for 2021. The post Are You Ready for the 2021 Gift Tax Return Deadline?
But don’t rest easy yet as there’s new fraud to watch out for in 2021. The post New Fraud to Watch Out For in 2021 appeared first on Roger Rossmeisl, CPA. Whew, you made it through 2020! Here are several new scams. Law enforcement expects to charge more (likely many more) con artists as evidence is uncovered. Indeed, the House.
On 6/28/21 the Internal Revenue Service, via IR 2021-135, began its “Dirty Dozen” list for 2021 with a warning for taxpayers, tax professionals and financial institutions to be on the lookout for these 12 nefarious schemes and scams.
These are the top seven compliance risks of 2021 (so far): Risk #1: Underpreparing for Remote Work. Compliance is on everyone’s mind, especially as much of the workforce goes remote and many new laws are emerging at the state and local levels. Risk #2: Ignoring “Fair Workweek” Laws. Risk #3: Pushing Pause on Pay Equity.
The ERC provides up to $21,000 in credit values per employee in 2021. The post ERC and R&D Tax Credits for the 2021 Tax Year appeared first on Burkland. Summary: R&D tax credits incentivize innovation with up to $250,000 in annual tax savings. Companies cannot use Read More.
A 1/13/2021 U.S. Treasury Department Press Release reported that the SBA is re-opening the Paycheck Protection Program (PPP) loan portal: to small lenders on 1/15/2021, and to all lenders on 1/19/2021. Background On 12/27/2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law.
December 9th, 2021 at 11:00 am PST, 2:00 pm EST, 7:00 pm GMT Develop your “intraprise architecture” and use it to visualize the changes to your firm’s or accounting department’s operations. Obtain insight into the skills and knowledge you will need to build in your staff to maintain your team’s relevance and improve the services you provide.
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. The post There May Still Be Time to Cut Your Small Business 2021 Taxes appeared first on Roger Rossmeisl, CPA. You still have time to execute a few strategies.
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. However, it’s a good idea to acquaint yourself with tax-related limits affecting individuals that may have changed for 2021. How much can I contribute to an IRA for 2021? If you’re eligible, you can.
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. The post Help Safeguard your Personal Information by Filing your 2021 Tax Return Early appeared first on Roger Rossmeisl, CPA. Business returns are already being accepted.)
A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Social Security tax The amount of employees’ earnings that are subject to Social Security tax is capped for 2021 at $142,800 (up from $137,700 for 2020). Some stayed the same due to low inflation.
Speaker: Dixie McCurley, Principal, Digital Advisory at Cherry Bekaert LLP
September 30th, 2021 at 1:30 pm PDT, 4:30 pm EDT, 9:30 pm BST Why outsourcing can help yield growth by augmenting your current model. Methods to measure and track your success so you can watch yourself improve. What a supplemental "gig economy" looks like for an accounting firm.
TaxConnex commissioned its own recent survey* of 100 financial leaders and their concerns leading into 2021 related to multi-state sales tax obligations. Can you do this in-house? The results showed an intersection of business problems.
TaxConnex is excited to announce a record-breaking 2021 and reports annual organic revenue growth of 19% in 2021, proving that as sales tax becomes more complicated, businesses are continuing to look for a trusted provider to manage the burden for them. in sales tax for our clients from 2021 returns. Wayfair decision.
If your online company looks to expand its interstate sales in 2021, know one thing: Your plan involves risks and new responsibilities. The key is learning how to manage both, as sales tax non-compliance or errors can bring stiff penalties. You’re not alone.
Speaker: David Bergstein, Chief Innovation Officer at Bergstein CPA
August 19th, 2021 at 11:00 am PDT, 2:00 pm EDT, 7:00 pm BST Methods to measure and track your success so you can watch yourself improve! Everyone who attends will walk away with the knowledge of what to do to be successful in the "New Normal.".
The IRS estimates that more than 1 million people across the country may have unclaimed tax refunds from tax year 2021, and they have untilApril 15to submit their federal return.
In response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic, IRS Notice 2021-07 provides temporary relief for employers and employees using the automobile lease valuation rule to determine the value of an employee’s personal use of an employer provided automobile for purposes of income inclusion, employment tax, and reporting.
The Treasury Department and Small Business Administration (SBA) have released Interim Final Rules (IFR) regarding the permission of “second draw loans” under the Paycheck Protection Program (PPP) recently authorized by the Consolidated Appropriations Act, 2021 (CAA 2021).
January 17 (The usual deadline of January 15 is a Saturday) Pay the final installment of 2021 estimated tax. Farmers and fishermen: Pay estimated tax for 2021. January 31 File 2021 Forms W-2, “Wage and Tax Statement,” with the Social Security Administration and provide copies to your employees.
Speaker: Jim Bourke, Managing Director Advisory Services at WithumSmith+Brown
October 21st, 2021 at 11:00 am PDT, 2:00 pm EDT, 7:00 pm BST Gain an awareness of some of the unique technologies that are ready to take the accounting profession to the next level. Learn how to define leadership’s role in keeping team members safe, functional, relevant and perfectly positioned to grow the practice.
The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. The ARPA temporarily expanded and made CTCs refundable for 2021. Eligible parents will soon begin receiving payments from the federal government.
Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return was due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year). Your 2021 return will be due in April of 2022.
Social Security tax The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at $147,000 (up from $142,800 in 2021). cents (up from 56 cents in 2021) Section 179 expensing: Limit: $1.08 million in 2021) Phaseout: $2.7 cents (up from 56 cents in 2021) Section 179 expensing: Limit: $1.08
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. If you’re like most people, you’re probably more concerned about your 2021 tax bill right now than you are about your 2022 tax situation.
Speaker: Amy Vetter, CEO of The B3 Method Institute
November 17th, 2021 at 11:00 am PDT, 2:00 pm EDT, 7:00 pm GMT Discover how to design an end-to-end customer experience that consistently provides the high-quality level of service and engagement your clients rely on throughout the entirety of your business relationship.
The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that will generally apply to digital asset transactions starting in 2023. Cryptocurrency exchanges will be required to perform intermediary Form 1099 reporting for cryptocurrency transactions.
Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses.
cents (up from 56 cents for 2021). On December 21, 2021, the national average price of a gallon of regular gas was $3.29, compared with $2.22 The IRS recently announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck will be 58.5 The increased tax deduction partly reflects the price of gasoline.
Speaker: Stephen M. Yoss, CPA, Partner at Devmatics, LLC
December 21st, 2021 at 11:00 am PST, 2:00 pm EST, 7:00 pm GMT. Identify new opportunities for communication and collaboration with your colleagues, staff, clients, and vendors using applications like Teams and Slack. Exchange confidential and sensitive information with others, both inside and outside your organization.
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