RogerRossmeisl

JANUARY 2, 2023

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. If you don’t pay your estimated tax by January 17, you must file your 2022 return and pay all tax due by March 1, 2023, to avoid an estimated tax penalty. If you have questions about filing requirements, contact us.

Tax 210

Tax CPA business tax 210

RogerRossmeisl

FEBRUARY 5, 2023

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. The IRS recently announced that the 2023 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 65.5

CPA 234

CPA business tax Tax 234

RogerRossmeisl

NOVEMBER 13, 2022

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). For 2023, the FICA tax rate for employers is 7.65% — 6.2% The post In 2023, the Social Security Wage Base is Increasing appeared first on Roger Rossmeisl, CPA.

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Hospitality CPA Tax business tax 222

RogerRossmeisl

JUNE 5, 2022

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). The post Inflation Enhances the 2023 Amounts for Health Savings Accounts appeared first on Roger Rossmeisl, CPA.

Account 228

Account accountant accounted CPA 228

RogerRossmeisl

APRIL 24, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. For corporations pay the first installment of 2023 estimated income taxes. For individuals, The post 2023 Q2 Tax Calendar: Key Deadlines for Businesses and Employers appeared first on Roger Rossmeisl, CPA.

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Tax income tax tax return CPA 200

RogerRossmeisl

FEBRUARY 25, 2024

If so, it’s important to determine if you’re required to file a 2023 gift tax return. The annual gift tax exclusion has increased in 2024 to $18,000 but was $17,000 for 2023. The post Get Ready for the 2023 Gift Tax Return Deadline appeared first on Roger Rossmeisl, CPA. Who must file?

tax return 150

tax return Tax CPA 150

RogerRossmeisl

NOVEMBER 13, 2022

Are you wondering how high inflation will affect your federal income tax bill for 2023? For 2023, the standard deduction will increase to $13,850 for single taxpayers, $27,700 for married couples filing jointly and $20,800 for heads of household. Some highlights Standard deduction.

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Tax income tax CPA 189

RogerRossmeisl

NOVEMBER 13, 2022

In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. 401(k) plans The 2023 contribution limit for employees who participate in 401(k) plans will increase to $22,500 (up from $20,500 in 2022).

CPA 185

CPA business tax Tax 185

BurklandAssociates

DECEMBER 26, 2023

Thank you to all the experts throughout the startup ecosystem who joined our Startup Success podcast in 2023 to share knowledge and insights. The post Listeners’ Favorites: Our Top Podcast Episodes of 2023 appeared first on Burkland.

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147

BurklandAssociates

DECEMBER 19, 2023

2023 was another interesting and challenging year for startups and investors. The post Readers’ Favorites: Our Top Blog Posts of 2023 appeared first on Burkland. Our readers found these blog articles to be especially helpful.

accountant 147

accountant Account accounted 147

Withum

SEPTEMBER 16, 2024

Here are key insights and reminders to help you navigate the complexities of employee benefit plan compliance for the 2023 filing year. Available for distributions made after December 31, 2023 Terminal illness-related distribution Allows for penalty-free withdrawals from retirement plans for individuals diagnosed with terminal illness.

CPA 124

CPA audit Real Estate income tax 124

CPA Practice

SEPTEMBER 10, 2024

between 2022 and 2023. percentage points, to 11.1%, in 2023. population had health insurance coverage for all or part of 2023, not statistically different from 2022. of people did not have health insurance at any point during 2023, according to the 2024 Current Population Survey Annual Social and Economic Supplement (CPS ASEC).

payroll tax 111

payroll tax Tax payroll Account 111

RogerRossmeisl

FEBRUARY 5, 2023

On 2/3/2023, the IRS issued Notice 2023-16 guidance that modifies the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle tax credits.

Tax 234

Tax CPA cpa firm business tax 234

RogerRossmeisl

JANUARY 8, 2023

The credit generally applies to vehicles having >4 wheels that are placed in service from 1/1/2023 – 12/31/2032. Who Qualifies You may qualify for. The post Unpacking the Clean Vehicle Credits under IRA ’22 appeared first on Roger Rossmeisl, CPA.

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CPA Tax cpa firm 231

RogerRossmeisl

FEBRUARY 26, 2023

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas.

California 237

California Tax tax return CPA 237

RogerRossmeisl

JANUARY 12, 2023

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

California 240

California Tax tax return CPA 240

RogerRossmeisl

OCTOBER 30, 2023

And due to high inflation, the adjustments for 2023 were big. 179 deductions For qualifying assets placed in service in tax years beginning in 2023, the maximum §179 deduction is $1.16 However, the amounts change every year due to inflation adjustments. Here are the numbers that small business owners need to know.

Real Estate 251

Real Estate CPA Tax cpa firm 251

RogerRossmeisl

OCTOBER 29, 2023

According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% Be aware of the tax implications if you’re selling your home or you sold one in 2023. over July of 2022 after a couple years of much higher increases.

Tax 249

Tax income tax CPA Sales 249

RogerRossmeisl

NOVEMBER 1, 2023

As reported via IR-2023-202 on 11/1/2023 IRS opens free Energy Credit Online tool for sellers of clean vehicles to register for time-of-sale reporting and dealer advance payments for the Clean Vehicle Credit The Internal Revenue Service announced today that sellers of clean vehicles can now register using the new IRS Energy Credits Online tool, available (..)

Tax 249

Tax CPA Sales 249

TaxConnex

FEBRUARY 22, 2024

from total e-commerce retail sales in 2023. retail e-commerce sales for 2023 through the third quarter were $833 billion, up 7.6% from 2022 to 2023 and is now offered by nearly two-thirds of U.S. Capital One reports that global e-commerce retail sales will hit some $6.91 trillion this year, up 9.5% trillion in 2027.

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E-commerce West Virginia Kansas Virginia 264

RogerRossmeisl

JANUARY 1, 2024

As reported via IR-2023-230 on 12/6/2023 As part of continuing efforts to combat dubious Employee Retention Tax Credit (ERTC) claims, the Internal Revenue Service is sending an initial round of more than 20,000 letters to taxpayers notifying them of disallowed ERTC claims.

CPA 219

CPA Tax cpa firm business tax 219

CPA Practice

JULY 30, 2024

Between October 1, 2021, and April 1, 2023, the IRS closed 1,175 cases with disciplinary actions, for 1,068 current employees, with confirmed tax noncompliance issues. During that same time period, 70 employees were identified with substantiated willful § 1203(b)(8) or (b)(9) violations and 20 were removed as a result.

income tax 116

income tax Tax tax return 116

Accounting Today

OCTOBER 23, 2024

The Treasury and the IRS granted a filing exception for tax-exempt organizations, saying they don't have to file Form 4626 for tax year 2023.

Tax 97

Tax corporation tax 97

RogerRossmeisl

NOVEMBER 20, 2023

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed (..)

Tax 234

Tax CPA cpa firm business tax 234

RogerRossmeisl

NOVEMBER 6, 2023

The exclusion amount for 2023 is $17,000. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or gift tax. The exclusion covers gifts you make to each recipient each year.

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Tax tax return CPA 278

RogerRossmeisl

JULY 17, 2024

File a 2023 calendar-year retirement plan report (Form 5500 or Form 5500-EZ) or request an extension. They should also deposit non-payroll withheld income tax for June if the monthly deposit rule applies. July 31 Report income tax withholding and FICA taxes for second quarter 2024 (Form 941) and pay any tax due.

income tax 254

income tax Tax payroll CPA 254

RogerRossmeisl

JUNE 5, 2024

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes.

Tax 244

Tax CPA cpa firm business tax 244

RogerRossmeisl

APRIL 2, 2023

As appearing in IRS Newswire IR-2023-64 The Internal Revenue Service just issued a proposed regulation related to certain requirements that must be met for critical minerals and battery components for the new clean vehicle credit. New clean vehicles placed in service on or after April.

CPA 221

CPA Tax 221

RogerRossmeisl

SEPTEMBER 29, 2024

in 2023, up from 5.9% Electric vehicles (EVs) have become increasingly popular. According to Kelly Blue Book estimates, the EV share of the vehicle market in the U.S. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible vehicles.

Tax 244

Tax CPA cpa firm 244

RogerRossmeisl

SEPTEMBER 4, 2023

As reported in IRS News Release IR-2023-157 The Internal Revenue Service announced that starting 1/1/2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return.

CPA 263

CPA Government Finance Tax 263