RogerRossmeisl

APRIL 17, 2024

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due.

income tax 196

income tax Tax tax return CPA 196

RogerRossmeisl

OCTOBER 27, 2024

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $176,100 for 2025 (up from $168,600 for 2024). Wages and self-employment income above this amount aren’t subject to Social Security tax.

Hospitality 263

Hospitality payroll CPA Tax 263

RogerRossmeisl

JUNE 19, 2023

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). This annual contribution limitation and the annual deductible and out-of-pocket expenses under the tax code are adjusted annually for inflation. Inflation adjustments for.

accounted 243

accounted accountant Account CPA 243

RogerRossmeisl

DECEMBER 15, 2024

These accounts are geared toward self-employed individuals, including sole proprietors, owners of single-member limited liability companies, consultants and other one-person businesses. You can make large annual tax-deductible contributions to a solo 401(k) plan. How much can you contribute? appeared first on Roger Rossmeisl, CPA.

CPA 241

CPA Tax Account accountant 241

RogerRossmeisl

FEBRUARY 23, 2025

from May to November of 2024. With todays hiring challenges, business owners should be aware that the Work Opportunity Tax Credit (WOTC) is available to employers that hire workers from targeted groups who face significant barriers to employment. According to the U.S.

Tax 205

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Nancy McClelland, LLC

APRIL 8, 2025

Did your accountant (possibly me) ask you to make a business tax payment for your Illinois pass-through entity, such as a Partnership or S-Corp — maybe an estimated tax payment or extension payment? On the Summary tab, look for the Business Income Tax section. (In Well, you’ve come to the right place.

Illinois 52

Illinois business tax Tax income tax 52

RogerRossmeisl

JANUARY 1, 2024

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. January 16 (The usual deadline of January 15 is a federal holiday) Pay the final installment of 2023 estimated tax. Farmers and fishermen: Pay estimated tax for 2023.

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Tax CPA business tax 159

Menzies

NOVEMBER 8, 2024

In this podcast, Menzies look at the Autumn Budget Breakdown 2024, with speakers Jonathan Bass, Partner, Business Recovery, Matt Watkins, Tax Disputes & Disclosures Director, Helen Cuthbert, Partner, Private Client and Stephen Hemmings, Partner, Business Tax. Menzies LLP - A leading chartered accountancy firm.

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Menzies

OCTOBER 30, 2024

Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years.

Manufacturing 59

Manufacturing corporation tax chartered accountant Technology 59

inDinero Accounting

OCTOBER 17, 2024

As we delve into the specifics, remember that tax laws are as dynamic as the business world itself. What applied last year might not hold true for 2024. Table of Contents What Is a Small Business Tax Deduction and How Does It Work? In other words, deductions lower taxable income before taxes are applied, not after.

business tax 52

business tax Tax bookkeeping bookkeeping services 52

CPA Practice

NOVEMBER 20, 2024

A new report from practice management software provider Ignition says rising business costs are driving fee increases at accounting firms, with 57% planning to raise fees across all services next year. The 2024 U.S. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

accounting firms 116

accounting firms accounted accountant Account 116

RogerRossmeisl

MARCH 23, 2025

If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Heres what you need to know as you assess your 2024 tax situation.

income tax 130

income tax CPA Tax business tax 130

CPA Practice

DECEMBER 19, 2023

As a first step, the IRS has adjusted eligible individual accounts and will make adjustments to business accounts later this month or in early January, followed by trusts, estates, and tax-exempt organizations in late February to early March 2024. 5, 2022, and Dec.

tax return 135

tax return Tax income tax Start-ups 135

inDinero Tax Tips

OCTOBER 22, 2024

Table of Contents LLCs Are “Pass-Through” Entities LLC Taxes in Nevada Nevada Commerce Tax Frequently Asked Questions Conclusion The Entrepreneur’s Guide to Tax Saving Strategies Fill out the form to download your guide to find out how you can pay less in taxes Click Here LLCs Are “Pass-Through” Entities LLCs aren’t taxed directly.

Nevada 105

Nevada Tax income tax payroll tax 105

Going Concern

NOVEMBER 7, 2024

The post Top Remote Accountants of the Week | November 7, 2024 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.

Real Estate 52

Real Estate accounted accountant Account 52

Withum

DECEMBER 18, 2024

2024 Year-End Tax Planning Resources Nows the time to review your year-end tax planning options and strategies for the 2024 tax season. Withums Year-End Tax Planning Resource Center offers tips, legislative updates, and tax-saving opportunities for individuals and businesses.

Tax 122

Tax auditor financial statements income tax 122

RogerRossmeisl

SEPTEMBER 29, 2024

As reported via IR-2024-240 on 9/18/2024 The Department of Treasury and Internal Revenue Service issued proposed regulations to provide guidance for the Alternative Fuel Vehicle Refueling Property Credit (the tax credit related to the installation of EV chargers).

CPA 262

CPA Tax cpa firm business tax 262

RogerRossmeisl

JUNE 25, 2024

As reported in IR-2024-169 IRS enters next stage of Employee Retention Tax Credit work; review indicates vast majority show risk of being improper Highest-risk claims being denied, additional processing to begin on low-risk claims; heightened scrutiny and review continues as compliance work tops $2 billion; IRS will consult with Congress on potential (..)

Tax 259

Tax CPA business tax 259

Menzies

NOVEMBER 10, 2024

Budget impact on care homes The Budget 2024 has introduced a raft of policies and financial measures aimed at addressing economic instability and promoting growth. As the government seeks to finance its ambitious social welfare programs and public sector salaries, care homes may be subjected to higher business taxes and payroll taxes.

chartered accountant 52

chartered accountant payroll tax accounting and finance payroll 52

RogerRossmeisl

JANUARY 21, 2024

As reported via IR-2024-16 on 1/19/2024 The Internal Revenue Service and the Department of the Treasury today issued Notice 2024-20 to provide guidance on eligible census tracts for the qualified alternative fuel vehicle refueling property credit (the tax credit applicable to the installation of EV chargers) and to announce the intent to propose regulations (..)

CPA 258

CPA Tax cpa firm business tax 258

ThomsonReuters

JANUARY 22, 2024

This legislation is designed to provide crucial support to American job creators, small businesses, and working families. Flexible Income Lookback : Taxpayers can choose to use either current or prior-year income to calculate the child tax credit in 2024 and 2025, providing flexibility in determining eligibility.

Tax 105

Tax business tax accounting and finance payroll 105

RogerRossmeisl

DECEMBER 3, 2023

Time deductions and income If your business operates on a cash basis, you can significantly affect your amount of taxable income by accelerating your deductions into 2023 and deferring income into 2024 (assuming you expect to be taxed at the same or a lower rate next year).

Tax 264

Tax CPA tax planning business tax 264

CPA Practice

NOVEMBER 20, 2023

TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The IRS previously indicated that small business owners should be able to respond to dozens of online notices by 2024.

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tax accountant business tax Tax accounted 124

Canopy Accounting

DECEMBER 20, 2023

Tax season is approaching, so make sure you stay informed about crucial business tax updates to stay ahead of the upcoming 2024 tax season chaos!

Tax 98

Tax business tax 98

RogerRossmeisl

JANUARY 14, 2024

Starting in 2024 newly formed, corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the U.S.

CPA 262

CPA Start-ups Government Tax 262

Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. We know Big 4 and mid-tiers have this pricing thing down. Or at least half-in. 57% of accounting firms plan to increase fees across all services in 2025.

cost accounting 115

cost accounting accounting firms accounted accountant 115

RogerRossmeisl

NOVEMBER 12, 2023

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income above this threshold aren’t subject to Social Security tax. For 2024, the FICA tax rate for employers will be 7.65% — 6.2%

Hospitality 130

Hospitality CPA Tax business tax 130

CPA Practice

FEBRUARY 7, 2024

Every year, millions of businesses and other entities have a mini tax season before the real tax season, and many turn to their accounting firm advisors or tax professionals for help. Due to changes in reporting requirements, the 2024 filings became a little more challenging: The years ahead may be even more so.

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Technology accounts payable accounting firms income tax 123

Dent Moses

OCTOBER 10, 2024

The post 2024 Business Tax Planning Guide appeared first on Dent Moses, LLP. Also, in the coming weeks, we’ll take a deeper dive into some specific strategies. As always, if you have any questions contact our team. Click here or image to download.

tax planning 52

tax planning business tax Tax Construction 52

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 263

Tax CPA cpa firm business tax 263

RogerRossmeisl

APRIL 24, 2024

As reported in IR-2024-46 Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced on 2/21/24 plans to begin dozens of audits on business aircraft involving personal use.

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audit CPA Tax cpa firm 264

RogerRossmeisl

JULY 22, 2024

(As appearing in IR 2024-186) IRS reminds car dealers and sellers to be aware of phishing scams The Internal Revenue Service would like to remind car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business.

CPA 264

CPA cpa firm business tax Tax 264

CPA Practice

JULY 8, 2024

Jenni Fleck Jones Receives University of Delaware Mentor Award Belfint Lyons & Shuman, CPAs (BLS)’s marketing & college recruiting manager, Jenni Fleck Jones , is the recipient of the 2024 Brad Scott Excellence in Mentoring Award from the University of Delaware Lerner College of Business!

Delaware 101

Delaware audit Entertainment Healthcare 101

RogerRossmeisl

AUGUST 11, 2024

As appearing in IR-2024-203 Agency accelerates work on complex credit as more payments move into processing.

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audit CPA Tax business tax 261

RogerRossmeisl

AUGUST 11, 2024

What are the tax differences between hardware and software? Specifically, for 2024, once these assets are operating, you can deduct 60% of the cost in the first year they’re placed in service. The post Business Website Expenses: How They’re Handled for Tax Purposes appeared first on Roger Rossmeisl, CPA.

Tax 254

Tax CPA cpa firm business tax 254

RogerRossmeisl

MAY 17, 2024

Commencing in 2024, individuals who possess short-term rentals (such as rentals facilitated by platforms like Airbnb) will be required to fill out the newly introduced Form BOE-571-STR, known as the Short Term Rental Property Statement, in order to disclose their business personal property.

California 254

California CPA Tax business tax 254

RogerRossmeisl

APRIL 28, 2024

For example, if you’re self-employed and set up a SEP-IRA, you can contribute up to 20% of your self-employment earnings, with a maximum contribution of $69,000 for 2024 (up from $66,000 for 2023). If you’re employed by your own corporation, up to 25% of your salary can be contributed to your account, with a maximum contribution of $69,000.

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Tax income tax CPA Account 210