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 211

CPA Start-ups Government Tax 211

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 198

CPA Tax cpa firm business tax 198

RogerRossmeisl

OCTOBER 13, 2024

As Reported via IR-2024-263 on 10/10/2024 The Internal Revenue Service announced on 10/10/2024 continued progress on Employee Retention Tax Credit claims, with processing underway on about 400,000 claims, representing about $10 billion of eligible claims. Work on the claims for small businesses and others is ongoing as the agency continues to navigate (..)

Tax 249

Tax CPA cpa firm business tax 249

RogerRossmeisl

JANUARY 1, 2024

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024. The IRS recently announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck will be 67 cents (up from 65.5 cents for 2023).

CPA 100

CPA Tax cpa firm business tax 100

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 190

Tax CPA cpa firm business tax 190

CPA Practice

APRIL 19, 2024

As business tax season winds down in the US Market, many leading partners have contacted me for strategic technology guidance for 2024 and beyond. So, What Are the Common Issues in CPA Firms? Begin building your list now for action after the busy season is over. So, What’s Next?

Technology 71

Technology cpa firm Non-Profits CPA 71

RogerRossmeisl

FEBRUARY 18, 2024

It’s called a pension-linked emergency savings account (PLESA) and the provision authorizing it became effective for plan years beginning January 1, 2024. The IRS recently released guidance about the accounts (in Notice 2024-22) and the U.S. For 2024, a participant who earned $150,000 or more in 2023 is a highly compensated employee.

Account 172

Account accountant accounted CPA 172

RogerRossmeisl

JANUARY 1, 2024

The program runs through March 22, 2024. The program is part of the IRS’ continuing efforts to combat questionable ERTC claims. This special disclosure program affords taxpayers the ability to repay only 80% of the claim received. FAQs: The FAQs provide detailed information on eligibility, the program process, calculating and.

CPA 206

CPA Tax cpa firm business tax 206

RogerRossmeisl

AUGUST 11, 2024

As appearing in IR-2024-198 Businesses urged to proactively resolve erroneous claims to avoid penalties, interest, audits As the Internal Revenue Service intensifies work on the Employee Retention Tax Credit (ERTC), the agency today shared five new warning signs being seen on incorrect claims by businesses.

CPA 182

CPA audit Tax cpa firm 182

CPA Practice

OCTOBER 25, 2024

You can keep your existing tax and the interfaces in the systems are all you know, usable, as we would see it. And you know, there’s other features that are missing. It’s much easier, but gathering personal information from an individual is hard.

Technology 113

Technology Account accountant accounted 113

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 Account accountant accounted 52

RogerRossmeisl

JANUARY 1, 2024

The special disclosure program runs through March 22, 2024, and the IRS added provisions allowing repayment of 80% of the claim received. The new disclosure program, which has been in the works for several months, is part of a larger effort at the IRS to stop aggressive marketing around ERTC that misled some employers into filing claims.

CPA 130

CPA Tax cpa firm business tax 130

CPA Practice

MARCH 5, 2024

March 2024. As business tax season winds down in the US Market, many leading partners have contacted me for strategic technology guidance for 2024 and beyond. So, What Are the Common Issues in CPA Firms? Begin building your list now for action after the busy season is over. So, What’s Next?

Technology 63

Technology cpa firm CPA Non-Profits 63

CPA Practice

FEBRUARY 1, 2024

Roseland, NJ-based tax and advisory practice Magone & Co. has signed an agreement to merge with Hackensack, NJ-based CPA firm Wurdemann, Pinto & Co. The combined firm will employ approximately 40 people. Financial terms of the deal weren’t disclosed.

Real Estate 52

Real Estate quickbooks cpa firm audit 52

Going Concern

JANUARY 30, 2025

TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting Senior / Manager | Candidate ID #23710075 Certifications: CPA Education: BS Accounting Experience (years): 25+ years accounting experience Work experience (detail): 10+ in public accounting 20+ years tax preparation and review Full cycle accounting, finance, tax and advisory Family office, HNWIs (..)

Real Estate 52

Real Estate Account accountant accounted 52

Nancy McClelland, LLC

JANUARY 30, 2024

To say nothing of the fact that the next government shutdown deadline is scheduled for one week before business tax returns are due. And to add to all of this, that the bill is being funded by an early end to the Employee Retention Credit program, as of January 31, 2024. And we were freaking out about that delay.

Tax 52

Tax tax return Illinois tax preparation 52

Nancy McClelland, LLC

APRIL 5, 2024

to include loads of information that most CPA firms are simply not going to have access to — not only current tax-year payroll information, but prior-year data on a per-employee basis; as well as information on how many employees qualified to participate (whether or not they actually participated), again both in 2022 and in 2023.

tax preparation 52

tax preparation Tax bookkeeping payroll 52

RogerRossmeisl

DECEMBER 24, 2024

Following a significant federal Court of Appeals decision on December 23, 2024, the Financial Crimes Enforcement Network (FinCEN) has once again mandated that reporting companies file Beneficial Ownership Information (BOI). This is an extension from the original January 1, 2025 deadline.

CPA 210

CPA cpa firm business tax Tax 210

RogerRossmeisl

DECEMBER 6, 2024

Garland (December 3, 2024, U.S. In a groundbreaking decision, a federal district court in Texas has issued a nationwide preliminary injunction that blocks the enforcement of the beneficial ownership reporting requirements under the Corporate Transparency Act (CTA). This ruling comes from the case Texas Top Cop Shop v. 4:24-CV-478).

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Texas CPA cpa firm business tax 244

RogerRossmeisl

OCTOBER 20, 2024

The CTA’s expanded anti-money laundering laws require that small businesses report this beneficial owner information to the Financial Crimes Enforcement Network (FinCEN) in an effort to create a national database for use by national security and law enforcement agencies to prevent the use of shell companies for criminal activity.

CPA 206

CPA cpa firm business tax Tax 206

RogerRossmeisl

DECEMBER 19, 2024

The House of Representatives has proposed a continuing resolution that includes this extension, pushing the deadline from January 1, 2025, to January 1, 2026, for companies formed or registered before January 1, 2024. Section 122 of the document specifically addresses this extension, amending the existing law to reflect the new deadline.

CPA 204

CPA Government Tax cpa firm 204

Going Concern

SEPTEMBER 9, 2024

” Related to the above tale, Kimberly Tara, Founder & CEO of The Tara CPA Firm LLC in New Orleans, talks to the Cincinnati Business Courier about her early days in public accounting : After an abrupt switch to accounting from chemical engineering far too late into my college career, I knew I had finally found my calling. .”

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Finance auditor Account accountant 59