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.

CPA 217

CPA Tax accounted Account 217

RogerRossmeisl

JULY 20, 2021

The post IRS 2021 “Dirty Dozen” – Preying on Unsuspecting Victims appeared first on Roger Rossmeisl, CPA.

CPA 236

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RogerRossmeisl

DECEMBER 17, 2021

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

CPA 188

CPA 188

RogerRossmeisl

JULY 20, 2021

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

CPA 225

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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 189

tax return Tax CPA 189

RogerRossmeisl

FEBRUARY 5, 2021

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.

CPA 237

CPA 237

RogerRossmeisl

JULY 20, 2021

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

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RogerRossmeisl

JANUARY 18, 2021

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.

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Tax CPA business tax 155

RogerRossmeisl

NOVEMBER 7, 2020

If your small business is planning for payroll next year, be aware that the 2021 Social Security wage base is increasing. The Social Security Administration recently announced that the maximum earnings subject to Social Security tax will increase from $137,700 in 2020 to $142,800 in 2021. For 2021, the Social Security tax rate is 6.2%

payroll 183

payroll CPA Tax business tax 183

CPA Practice

JANUARY 17, 2023

State CPA Society Ne ws is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. Shapiro’s first budget proposal.

CPA 124

CPA Pennsylvania Tennessee Nevada 124

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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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 181

tax return Tax income tax CPA 181

RogerRossmeisl

MARCH 29, 2021

April 15 is the deadline for the first quarterly estimated tax payment for 2021, if you’re required to make one. The post 2021 Individual Tax Estimates are Due April 15th appeared first on Roger Rossmeisl, CPA. If one of those dates falls on a weekend or holiday, the payment is due on the next business day.

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Tax CPA 130

CPA Practice

OCTOBER 5, 2023

The Illinois CPA Society (ICPAS), in partnership with the Center for Accounting Transformation (the Center) and a coalition of other stakeholders, is launching a new, national survey to gain fresh insight into what’s driving the decline in individuals pursuing the certified public accountant (CPA) credential. The survey will close Dec.

CPA 119

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RogerRossmeisl

JANUARY 15, 2021

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.

payroll 154

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Going Concern

OCTOBER 25, 2023

As you may already know the 2023 AICPA Trends report is out , here’s our earlier write-up on how many accounting degrees were completed for the 2021-22 period covered in the new report (saving you a click: it’s 65,035). Today we’re going to look at CPA exam candidate numbers. decrease in unique candidates, and a 3.6%

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RogerRossmeisl

FEBRUARY 3, 2021

As a result, you might claim a lower deduction for vehicle-related expenses for 2021 than you could for 2020 or 2019. The post Business Mileage Rate Decreases in 2021 appeared first on Roger Rossmeisl, CPA. This is the second year in a row that the cents-per-mile business mileage rate decreases year-over-year.

CPA 130

CPA business tax Tax 130

RogerRossmeisl

FEBRUARY 24, 2021

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.

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Tax tax return CPA 147

CPA Practice

JUNE 6, 2023

The American Institute of Certified Public Accountants and CPA Practice Advisor have announced the recipients of the 12th annual ‘Most Powerful Women in Accounting’ awards, which recognize leaders for their significant contributions to the profession. re increasingly becoming the face of public accounting and financial management.

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CPA accounted Account accountant 134

RogerRossmeisl

OCTOBER 20, 2024

In 2021, Congress passed the Corporate Transparency Act (CTA). The post Reminder That Initial BOI Reporting for Pre-1/1/24 Entities is Due 1/1/25 appeared first on Roger Rossmeisl, CPA. While certain.

CPA 194

CPA cpa firm business tax Tax 194

RogerRossmeisl

FEBRUARY 23, 2021

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.

Tax 147

Tax CPA business tax 147

CPA Practice

MAY 30, 2023

The number of CPA candidates who took the Uniform CPA Examination in 2022 was about 7% lower than the previous year, the Financial Times reported on May 28. FT reported that was the lowest amount of CPA exam takers in at least 17 years. The number of CPA exam modules being sat by U.S.

CPA 116

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Going Concern

JANUARY 31, 2023

The AICPA has released Q4 CPA exam pass rates which means we have a cumulative score for all of 2022 YIPPEE. The post Here’s How People Did on the CPA Exam in 2022 appeared first on Going Concern. BEC has seen a pretty significant jump in performance over the last few years. We’ll be sad to see it go. Well done, everyone.

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CPA Tax 111

CPA Practice

AUGUST 29, 2023

Rapid technological advancement and innovation present an enormous opportunity for the accounting profession to reimagine its role as trusted business advisors, and the Digital CPA (DCPA) conference connects CPAs and firm leaders with insights, business model strategies and tools to transform their practices to maximize the opportunity.

CPA 98

CPA North Carolina Technology cpas 98

AccountingDepartment

AUGUST 7, 2021

Cathy Becker, CPA, Senior Controller and Project Manager here at AccountingDepartment.com, joined up with the Jirav team last week at AICPA's Engage 2021 event in Las Vegas, NV. Last fall, the AccountingDepartment.com team discovered Jirav to assist with our budgeting and forecasting needs.

CPA 98

CPA small business accounting accounting software business accounting 98

Going Concern

NOVEMBER 10, 2023

Next: Yet the National Association of State Boards of Accountancy’s data indicates that the number of CPA exam takers fell by almost 50% between 1990 and 2021. [Ed. note: new CPA exam candidate data came out just before EY released this survey and surprise, it’s worse] Another cite here.

CPA 104

CPA cpas Education Minnesota 104

CPA Practice

DECEMBER 20, 2023

Top 200 accounting firm Honkamp recently added one of the 20 largest CPA firms in the St. Honkamp added Nigl Accounting, based in Oshkosh, WI, in December 2021. In November 2022, Honkamp acquired Vaassen, Pluemer CPAs in Platteville, WI, and the Cedar Falls, IA office of Gosling & Co. Louis metro area to its team.

cpa firm 104

cpa firm CPA Iowa Wisconsin 104

CPA Practice

JUNE 27, 2024

A new initiative, Controllers for a Cause Scholarship Fund, seeks to support the CPA pipeline with scholarships for students sitting for the CPA Exam. Students need to know CPA careers can be fast track, financially rewarding and offer great opportunities for women and minorities.”

CPA 52

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CPA Practice

JULY 8, 2024

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Illinois CPA Society (ICPAS)—one of the largest state associations in the nation serving the certified public accountant (CPA) community—recently announced that Larry J.

CPA 52

CPA Maryland Georgia Illinois 52

KROST

NOVEMBER 24, 2021

KROST recognized our new CPA licensees at the CalCPA LA Chapter ABC Networking event on November 18th at the Luxe Hotel on Sunset in Hollywood. Congratulations to: Shelby Anna Brennan, CPA. Hoang Lan N Ho, CPA. Kimberly May Hoang, CPA. Cara Wang, CPA. Kejing Wang, CPA. Huanye Xu, CPA. Jing Yin, CPA.

CPA 52

CPA cpa firm California Education 52

Dent Moses

FEBRUARY 7, 2024

Specifically, there is a real need for more incoming CPA candidates to replace those retiring and to handle increased demand. Let’s look at some statistics: There were 672,587 actively licensed CPAs as of September 1, 2023. 75% of current CPAs will retire in the next 15 years. from the previous year.

CPA 52

CPA cpas Education cpa firm 52

CPA Practice

JANUARY 17, 2023

In the last few years there has been a shortage of critical skills with regards to the accounting profession and especially in the output of North American and European professionals with CPA, EA and CMA qualifications. This is where skilled CPA, CMA AND EA professionals shine. Each state’s Board of Accountancy issues the CPA license.

cma 126

cma CPA accounting and finance public accounting 126

CPA Practice

APRIL 7, 2023

Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. Deloitte ranks the talent shortage among the top challenges that are expected to influence or disrupt businesses this year.

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accounting firms CPA Technology accounted 139

CPA Practice

OCTOBER 16, 2023

The projected gross tax gap—the difference between the total taxes owed to the federal government and how much is collected on time—increased to $688 billion for tax year 2021, the IRS said on Oct. That estimated compliance behavior is projected forward to taxpayers in tax years 2020 and 2021, the IRS said.

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Tax audit Government accounted 116