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). The post In 2025, the Social Security Wage Base is Going Up appeared first on Roger Rossmeisl, CPA.

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Hospitality payroll CPA Tax 263

CPA Practice

DECEMBER 5, 2024

Following the November presidential election, CPA business leaders have a much more positive outlook about the U.S. The quarterly survey includes 273 qualified responses from CPAs and Chartered Global Management Accountants (CGMAs) who hold leadership positions, such as CFO or controller, in their companies. 6 to 26, 2024.

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Going Concern

JANUARY 1, 2025

At the start of last year we ran a little survey asking readers what they thought would be the biggest issues impacting the profession in 2024. What will be the biggest issue affecting the profession in 2024? The 2024 predictions survey also asked if there are any issues that aren’t being talked about and should be.

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RogerRossmeisl

FEBRUARY 23, 2025

from May to November of 2024. The post Understanding the Work Opportunity Tax Credit appeared first on Roger Rossmeisl, CPA. According to the U.S. Bureau of Labor Statistics, the unemployment rate continues to be historically low, ranging from 4.0%

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RogerRossmeisl

JULY 17, 2024

July 31 Report income tax withholding and FICA taxes for second quarter 2024 (Form 941) and pay any tax due. August 12 Report income tax withholding and FICA taxes for second quarter 2024 (Form 941), if you deposited on time and in full all the associated taxes due. See the exception below, under “August 12.”)

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RogerRossmeisl

SEPTEMBER 29, 2024

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. The post 2024 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers appeared first on Roger Rossmeisl, CPA.

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Tax CPA business tax 255

RogerRossmeisl

DECEMBER 15, 2024

For 2024, you can make an elective deferral contribution of up to $23,000 of your. appeared first on Roger Rossmeisl, CPA. You can make large annual tax-deductible contributions to a solo 401(k) plan. The post How Can You Build a Golden Nest Egg If You’re Self-Employed?

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CPA Tax Account accountant 241

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. The new requirement for.

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CPA Government Finance Tax 278

Going Concern

FEBRUARY 10, 2025

The CPA Exam remains broken. Q4 2024 Pass Rates: Core: FAR – 36.80% AUD – 43.50% REG – 60.40% Discipline (Candidates Choose 1): BAR – 33.70% TCP – 72.20% ISC – 56.40% A few thoughts: The consensus on the new exam was FAR would see higher pass rates as difficult material moved to BAR.

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RogerRossmeisl

SEPTEMBER 18, 2023

Effective for plan years beginning January 1, 2024, SECURE 2.0 The post Planning Ahead for 2024: Should Your 401(k) Help Employees with Emergencies? appeared first on Roger Rossmeisl, CPA. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies.

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CPA Tax Government Account 264

TaxConnex

FEBRUARY 29, 2024

While not at all related to sales tax, we thought that as we spend a day to align our seasons and the Earth’s orbit of the sun, we should also discuss how to ensure your processes align with maintaining sales tax compliance in 2024! L: Liability. E: Expect Changes. As your business changes and evolves, so does your nexus.

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CPA Practice

OCTOBER 14, 2024

Nominations for the 2024 Awards are now open. Once selected, award winners are asked to identify the key individuals who have influenced them in their careers, where they see the profession heading, and how others can prepare for these changes. == Nominate a professional for the 2024 4 0 Under 40 or 20 Under 40 award.

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RogerRossmeisl

JUNE 19, 2023

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). The post The IRS Has Just Announced 2024 Amounts for Health Savings Accounts appeared first on Roger Rossmeisl, CPA. Inflation adjustments for.

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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. For corporations, pay the first installment of 2024 estimated income taxes. The post 2024 Q2 Tax Calendar: Key Deadlines for Businesses and Employers appeared first on Roger Rossmeisl, CPA.

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CPA Practice

NOVEMBER 7, 2024

7 released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report. During fiscal year 2024, the IRS collected more than $5.1 The IRS on Nov. An unmodified opinion means the financial statements are presented fairly, in all material respects, in accordance with U.S.

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RogerRossmeisl

DECEMBER 15, 2024

The post The Nanny Tax: What Household Employers Need to Know appeared first on Roger Rossmeisl, CPA. However, you may be required to withhold Social Security and Medicare (FICA) taxes and to pay federal unemployment (FUTA) tax.

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CPA Practice

DECEMBER 6, 2024

Brian Tankersley, CPA, and Randy Johnston provide a recap of the 2024 CCH Connections user conference. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab, sponsored by CPA practice advisor, with your hosts, Randy Johnston and Brian Tankersley. Randy Johnston 00:10 welcome to the accounting Technology Lab.

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RogerRossmeisl

MARCH 23, 2025

If youre getting ready to file your 2024 tax return and your tax bill is higher than youd like, there may still be a chance to lower it. If youre eligible, you can make a deductible contribution to a traditional IRA until this years April 15 filing deadline and benefit from the tax savings on your 2024 return. Whos eligible?

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tax return CPA Tax 130

CPA Practice

NOVEMBER 22, 2024

The limit on employee deferrals to 401(k) plans, the most popular type of employer-provided qualified retirement plan in the land, is increasing from $23,000 in $2024 to $23,500 in 2025. If you’re age 50 or older, you can kick in an extra $7,500 “catch-up contribution” (the same as in 2024). Tax bonus: Under the SECURE 2.0

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Tax 111

Going Concern

JANUARY 30, 2025

Yesterday NASBA released scores for Core CPA exam sections taken from October 1 – December 26, 2024, the last group of scores for sections taken last year. This means we can crunch the numbers on roughly how many Core sections were taken in 2024 based on the numbers NASBA put out.

CPA 59

CPA 59

CPA Practice

NOVEMBER 8, 2024

Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. We’ll be back next Saturday with a new episode of the technology lab from CPA practice advisor. We’d like to talk about another AI based tax research tool called Tax GPT. Have a great week.

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Technology Account accountant accounted 115

CPA Practice

NOVEMBER 11, 2024

Batch Extensions from HubSync : Helps CPA firms prepare extensions in bulk. Beyond that, there are other audit tools to consider: Audit Intelligence Analyze : Thomson Reuters is creating an Audit Intelligence Suite, and this is the first product delivered in conjunction with Synergy 2024.

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CPA Practice

NOVEMBER 22, 2024

CohnReznick’s McCafferty selected to MACPA’s 2024 Women to Watch CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, announced that Molly McCafferty, Partner, Assurance, has been selected as one of four 2024 Women to Watch by the Maryland Association of CPA’s (MACPA) Foundation.

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CPA Practice

NOVEMBER 18, 2024

The Indiana CPA Society (INCPAS) has announced the finalists for the 2024 INCPAS Awards honoring outstanding CPAs and related professionals in Indiana. This year’s winners will be announced at the annual INCPAS CPA Celebration on November 22 at The Crane Bay Event Center. Must be under age 35 on December 31, 2024.

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RogerRossmeisl

MARCH 23, 2025

Heres what you need to know as you assess your 2024 tax situation. appeared first on Roger Rossmeisl, CPA. If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. The post Do You Have an Excess Business Loss?

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CPA Practice

NOVEMBER 8, 2024

18-19, 2024, during our live streaming event at [link]. – I know a lot of us have just gotten out of extension season, and then the election, but if you need to complete some more CPE this year, how about joining us at Ensuring Success , the largest annual online live-streaming CPE event for CPAs.

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cpas 132

Withum

OCTOBER 16, 2024

Withum is proud to share that New Jersey business publication ROI-NJ has named Pat Walsh to their 2024 Top Champions of the C-Suite list. Pat was previously recognized in the inaugural Forbes Top 200 CPAs List. The post ROI-NJ Names Pat Walsh to 2024 Top Champions of the C-Suite List appeared first on Withum.

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CPA Practice

NOVEMBER 20, 2024

On December 18-19, 2024, CPA Practice Advisor is hosting its annual Ensuring Success conference, an online CPE event where professionals can earn up to 14 hours of free CPE credit, with 7 one-hour sessions each day. A new CPE session starts each hour, on the hour. Day 1 Sessions (Dec. 19) Session 1 (9am ET): Secure Act 2.0

CPA 119

CPA accounting firms Tax Account 119

CPA Practice

NOVEMBER 15, 2024

The American Institute of CPAs has recognized two prominent Tax Division members during the 2024 AICPA Fall Tax Division Meeting. Sansone, CPA, was presented with the Arthur J. Dixon Memorial Award and Annette Nellen, CPA, CGMA, Esq., Sansone, CPA – 2024 Arthur J. Sansone, CPA with the Arthur J.

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CPA Practice

OCTOBER 18, 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Tankersley, CPA.CITP, CGMA 00:00 Randy, welcome to the accounting Technology Lab sponsored by CPA practice advisor. For example, the CPA practice advisor publication just announced their selection of top products as well.

Technology 111

Technology Account accountant accounted 111

CPA Practice

NOVEMBER 26, 2024

Brian Tankersley, CPA, and Randy Johnston review HubSync , an all-in-one, modern client platform which automates the tax return and other key processes and provides a single gateway to drive “Best-in-Class” collaboration between professionals and their clients. I’ve known quite a few of them for a lot of years.

Technology 111

Technology Account accountant accounted 111

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).

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CPA Practice

NOVEMBER 15, 2024

Brian Tankersley, CPA, and Randy Johnston review Soraban , an AI-powered system that revolutionizes your practice’s client data intake process by automating and simplifying every step. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor. Have a great week.

Technology 111

Technology Account accountant accounted 111

CPA Practice

OCTOBER 28, 2024

NBA basketball legend Magic Johnson had been slated as as the premier keynote speaker, but as a current co-owner of the Los Angeles Dodgers, had to reschedule due to the Dodgers currently taking on the New York Yankees int he 2024 MLB World Series.

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RogerRossmeisl

APRIL 30, 2024

According to the Treasury, the US government has provided auto dealers with >$580 million in advance payments for consumer electric vehicle (EV) tax credits since 1/1/2024. The post Treasury Has Issued Auto Dealers >$580 Million in Advance EV Tax Rebates This Year appeared first on Roger Rossmeisl, CPA.

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Tax tax return CPA Government 257

RogerRossmeisl

MARCH 23, 2025

As we approach the expiration of certain provisions within the Tax Cuts and Jobs Act (TCJA) at the end of 2025, heres what you need to know about the CTC for 2024, 2025 and beyond. The post Financial Relief for Families: The Benefits of the Child Tax Credit appeared first on Roger Rossmeisl, CPA.

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Tax CPA 130