RogerRossmeisl

FEBRUARY 16, 2021

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.

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CPA Tax accountant accounted 224

RogerRossmeisl

DECEMBER 31, 2020

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.

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CPA business tax Tax 213

RogerRossmeisl

JULY 20, 2021

The post IRS 2021 “Dirty Dozen” – Pandemic-Related Scams appeared first on Roger Rossmeisl, CPA.

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CPA Tax cpa firm 244

BurklandAssociates

JANUARY 17, 2022

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.

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Tax 246

RogerRossmeisl

OCTOBER 6, 2021

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.

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Tax income tax tax return CPA 202

RogerRossmeisl

JULY 20, 2021

The post IRS 2021 “Dirty Dozen” – Persuading Taxpayers into Unscrupulous Actions appeared first on Roger Rossmeisl, CPA.

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CPA Tax cpa firm Sales 231

RogerRossmeisl

DECEMBER 17, 2021

The post Deducting Charitable Gifts in 2021 appeared first on Roger Rossmeisl, CPA. (This is Blog Post #1142).

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TaxConnex

DECEMBER 31, 2020

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.

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general ledger Sales Tax Finance 246

TaxConnex

JANUARY 25, 2022

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.

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South Dakota Tax Sales 246

TaxConnex

JANUARY 21, 2021

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.

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Sales Tax tax return audit 219

RogerRossmeisl

FEBRUARY 23, 2022

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?

tax return 196

tax return Tax CPA 196

RogerRossmeisl

DECEMBER 7, 2021

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.

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Tax CPA tax planning business tax 208

TaxConnex

DECEMBER 3, 2020

Alpharetta, GA - TaxConnex, Inc today released the results of a new survey finding that the increasing sales tax complexities, growing nexus, limited resources and additional audits are among the top worries of financial professionals in 2021. Survey highlights include: 65% of companies plan to grow across state lines in 2021.

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South Dakota Sales Tax Finance 211

RogerRossmeisl

JANUARY 19, 2022

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.)

tax return 188

tax return Tax income tax CPA 188

Accounting Today

OCTOBER 12, 2023

increase next year, the smallest gain since 2021, reflecting a significant cooling in the rate of inflation. Monthly checks for the more than 71 million people receiving retirement or disability benefits in the U.S. will get a 3.2%

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accountant accounted Account 124

RogerRossmeisl

JULY 13, 2021

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.

Tax 230

Tax CPA Government 230

RogerRossmeisl

JANUARY 9, 2021

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.

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CPA Tax cpa firm business tax 209

RogerRossmeisl

JUNE 3, 2021

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.

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Tax tax return CPA 220

RogerRossmeisl

JANUARY 6, 2021

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.

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CPA Government Tax business tax 233

TaxConnex

SEPTEMBER 16, 2021

These are just two questions answered in the recent 2021 E-Commerce Shipping and Fulfillment Benchmarks Report. The survey found that between April 2019 and March 2021, total e-commerce order value increased exponentially. In the winter, e-commerce jumped 91% year-to-year 2020 to 2021. The takeaway, says Shippo?

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E-commerce Sports Sales Tax 246

TaxConnex

DECEMBER 17, 2020

To better understand the growing concerns finance leaders are facing and how they are attempting to handle the massive changes, TaxConnex commissioned Porter Research in November 2020 to study financial leaders and their concerns leading into 2021 related to multi-state sales tax obligations.

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Sales Finance Tax 246

RogerRossmeisl

JANUARY 19, 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

Tax 208

Tax CPA business tax 208

RogerRossmeisl

JANUARY 11, 2022

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.

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Tax tax return CPA 211

TaxConnex

DECEMBER 16, 2021

2021 has been another year of tumultuous change. As financial teams were forced to do more with fewer resources in 2021, sales tax complexities did not slow down, so why are they continuing to manage sales tax in-house? How are they currently managing sales tax?

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Sales Tax audit Start-ups 241

TaxConnex

APRIL 22, 2021

Ron DeSantis signed l egislation that impose s sales tax economic nexus on remote sellers on April 19, 2021. The details: Implementation will start as of July 1, 2021. Florida Gov. Economic nexus has finally passed in Florida! What does this mean for you and your business?

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Florida Missouri Sales Tax 241

RogerRossmeisl

NOVEMBER 2, 2021

CAA 2021 Changes Within the Consolidated Appropriations Act of 2021 (signed into law on 12/27/20) was the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA 2020). TCDTRA 2020 extended the WOTC to cover qualified first-year wages paid to eligible new hires who begin work by 12/31/25.

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Tax CPA cpa firm business tax 218

RogerRossmeisl

OCTOBER 12, 2021

In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” rates that became effective October 1, 2021. Are employees at your business traveling again after months of virtual meetings? Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling away from home.

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Transportation CPA business tax Tax 217

RogerRossmeisl

APRIL 21, 2022

April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For individuals, file a 2021 income tax return (Form 1040 or Form 1040-SR) or file for an automatic six-month extension (Form 4868) and paying any tax due.

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Tax income tax tax return CPA 216

RogerRossmeisl

DECEMBER 27, 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.

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Tax CPA business tax 187

TaxConnex

MARCH 3, 2022

Many states have recently mentioned taxing services; it cropped up notably in West Virginia’s 2021 State of the State address. Nebraska will reconsider a carried-over 2021 bill to extend sales tax to services and, effective this October, lower the state sales tax rate back to 5% with later adjustments possible. Recent developments.

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