Accounting Seed

JANUARY 9, 2025

In 2025, this shift will deepen as CFOs rely on real-time financial data, AI-driven insights, and integrated tools to make informed decisions. Rising Labor Costs and Talent Shortages With 75% of the CPA workforce nearing retirement and a shrinking pool of new talent entering the field, accounting leaders face a critical challenge.

Technology 98

Technology Account accounted accountant 98

RogerRossmeisl

JULY 30, 2021

Note that under the Tax Cuts and Jobs Act (TCJA) , employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns. That’s because unreimbursed employee business expenses are “miscellaneous itemized deductions” that aren’t deductible through 2025. appeared first on Roger Rossmeisl, CPA.

tax return 244

tax return Transportation CPA Tax 244

RogerRossmeisl

JULY 17, 2024

Many of its provisions are set to expire on December 31, 2025. appeared first on Roger Rossmeisl, CPA. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes.

Tax 221

Tax corporation tax Washington CPA 221

CPA Practice

OCTOBER 8, 2024

in 2025 and roles in audit and assurance expected to rise by an average of 9.5%, according to a CPA Practice Advisor analysis of public accounting pay data provided by specialized staffing firm Robert Half. Robert Half’s salary guide for 2025 was released on Oct. Robert Half’s salary guide for 2025 was released on Oct.

public accounting 116

public accounting Account accounted accountant 116

CPA Practice

OCTOBER 22, 2024

22 released updated tax brackets and standard deductions for 2025. These tax rates are for the 2025 tax year covering tax returns that will be filed in 2026. These tax rates are for the 2025 tax year covering tax returns that will be filed in 2026. The IRS on Oct.

Tax 124

Tax tax return Transportation income tax 124

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. projection last quarter.

CPA 119

CPA cpas management accounting management accounts 119

CPA Practice

MAY 9, 2024

For calendar year 2025, the annual contribution limit for an individual with self-only coverage under a high-deductible health plan (HDHP) will be $4,300. The increases are detailed in Revenue Procedure 2024-25 and go into effect in January 2025. For an individual with family coverage, the amount will be $8,550.

accounted 119

accounted accountant Account 119

Going Concern

JANUARY 31, 2024

NASBA held a quick little webinar yesterday on CPA Evolution and although I had a million other things I’d rather do, I sat in on it to bring you any important information. People are angry about the 2024 CPA exam score release schedule, and they are allowed to be, and there’s all kinds of confusion about the various extensions.

CPA 111

CPA Construction 111

RogerRossmeisl

JANUARY 14, 2024

Entities in existence prior to January 1, 2024, have until January 1, 2025, to file these reports. The post New Beneficial Ownership Reporting Requirements Effective 1/1/24 appeared first on Roger Rossmeisl, CPA. Unfortunately, this will impose burdensome reporting requirements on most businesses, and the willful failure.

CPA 205

CPA Start-ups Government Tax 205

CPA Practice

SEPTEMBER 11, 2024

Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023. The full report is available at: [link]. Bloomberg Tax’s annual Projected U.S.

Tax 128

Tax income tax corporation tax tax planning 128

RogerRossmeisl

DECEMBER 15, 2024

For 2018 through 2025, business and moving miles are deductible only in much more limited circumstances. The post You Don’t Have to Be in Business to Deduct Certain Vehicle Expenses appeared first on Roger Rossmeisl, CPA. Unfortunately, under current law, you may be unable to deduct as much as you could years ago.

CPA 198

CPA Tax 198

RogerRossmeisl

OCTOBER 17, 2020

Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. The post Deductibility of Portfolio Management and Related Expenses appeared first on Roger Rossmeisl, CPA. Are they tax deductible? Engaged in a Trade or Business To qualify, you must be engaged.

CPA 218

CPA Tax 218

CPA Practice

DECEMBER 30, 2024

Despite a conservative outlook for 2025, salary increases remain at a healthy rate by historic standards and amid higher total payroll expenses (which include salaries, bonuses, variable pay and benefit costs).

payroll 111

payroll 111

CPA Practice

OCTOBER 28, 2024

When kicking off the 2025 budgeting process, CFOs will need to revisit and pressure-test the scenarios, assumptions, and decisions that were employed for the previous year. From geopolitical volatility to the transformative business impact of AI, many uncertain factors impact economic forecasting for 2025.

Technology 111

Technology Finance 111

RogerRossmeisl

DECEMBER 29, 2024

For 2025, the maximum 15.3% The post Self-Employment Tax: A Refresher on How it Works appeared first on Roger Rossmeisl, CPA. SE tax basics The maximum 15.3% SE tax rate hits the first $168,600 of your 2024 net SE income. rate is comprised of the 12.4% rate for the Social Security tax component plus the 2.9% How high can your SE tax.

Tax 191

Tax CPA business tax 191

CPA Practice

AUGUST 21, 2024

By Zach Mentz cleveland.com (TNS) The annual cost-of-living adjustment for Social Security benefits is expected to decrease in 2025, according to a new estimate. The Social Security cost-of-living adjustment (COLA) for 2025 is projected to be 2.57%, down from the 3.2% over the past 20 years, per TSCL. for July, down from 3.0%

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128

Going Concern

JANUARY 3, 2025

Psst, take our 2025 Predictions for the Accounting Profession survey. He says 2024 was all about proving what AI brings to the tableand expects 2025 will shift more into scaling it. To see 2024 survey results, check out this post.

auditor 98

auditor audit Rhode Island cpa firm 98

CPA Practice

JANUARY 6, 2025

As we look to 2025, the small business economy is on track to support these businesses and provide additional opportunities for growth. However, uncertainties remain.

accountant 111

accountant accounted Account 111

RogerRossmeisl

MARCH 25, 2021

For tax years through 2025, the deduction can be up to 20% of a pass-through entity owner’s QBI. The post Tax Considerations When Launching a Sole Proprietorship appeared first on Roger Rossmeisl, CPA. You can take the deduction even if you don’t itemize deductions on your tax return and instead claim the standard deduction.

Tax 213

Tax tax return CPA Start-ups 213

CPA Practice

SEPTEMBER 23, 2024

’Tis the season for staffing firms to release their salary prognostications for various accounting and finance roles for the upcoming year, and one of the first for 2025 comes from Atrium. The staffing and recruiting firm recently put out its 2025 Salary Guide , which includes a section for finance and accounting.

public accounting 116

public accounting Account accounted accountant 116

Going Concern

OCTOBER 25, 2023

Today we’re going to look at CPA exam candidate numbers. In a vacuum the 2022 numbers aren’t terrible — 30,251 new CPA candidates, 67,336 unique CPA candidates, and 18,847 CPA candidates who passed their 4th section that year. 2021 to 2022 that’s a 6% decrease in new CPA candidates, a 6.8%

CPA 128

CPA accounting degree cpas Start-ups 128

Going Concern

MAY 30, 2024

The official score release thread on r/CPA is a good read if you have an afternoon to waste. by u/Galbert123 in CPA See what I mean? Usually that change doesn’t work in favor of anxious CPA exam candidates but as we just saw, every now and then the universe smiles down upon them.

CPA 110

CPA 110

RogerRossmeisl

JUNE 19, 2023

If you reach age 72 in 2023, the required beginning date for your first RMD is April 1, 2025, for 2024. The post 4 Tax Challenges You May Encounter If You’re Retiring Soon appeared first on Roger Rossmeisl, CPA. Roth IRAs don’t require withdrawals until after the death of the owner. You can withdraw more than.

Tax 206

Tax CPA accountant accounted 206

RogerRossmeisl

DECEMBER 29, 2024

Its a good time to review how these accounts work because the IRS has announced the relevant inflation-adjusted amounts for 2025. The post Healthy Savings: How Tax-Smart HSAs Can Benefit your Small Business and Employees appeared first on Roger Rossmeisl, CPA. You may already have an HSA.

Tax 187

Tax tax return CPA accounted 187

CPA Practice

NOVEMBER 26, 2024

Nobody can give you an exact answer, especially this far out, but we can give you a pretty good estimate based on a few factors, and the collective experience of the CPA Practice Advisor team. 27, 2025 Feb. This will give the taxpayer until October 15, 2025, to file the federal tax return. E-filed, but paper check mailed apx.

Tax 105

Tax tax return income tax CPA 105

RogerRossmeisl

JULY 17, 2022

For 2018 through 2025, business and moving miles are deductible only in much more limited circumstances. appeared first on Roger Rossmeisl, CPA. Unfortunately, under current law, you may not be able to deduct as much as you could years ago. The post Can Individual Taxpayers Deduct Vehicle Expenses?

tax return 202

tax return CPA Tax 202

RogerRossmeisl

APRIL 17, 2024

The qualified business income (QBI) deduction is available to eligible businesses through 2025. The post Maximize the QBI Deduction Before It’s Gone appeared first on Roger Rossmeisl, CPA. After that, it’s scheduled to disappear. Deduction basics The QBI deduction is written off at the owner level. QBI is reduced.

CPA 168

CPA Tax cpa firm business tax 168

RogerRossmeisl

JULY 16, 2023

Note: Under the Tax Cuts and Jobs Act, employees can’t deduct their unreimbursed travel expenses on their own tax returns through 2025. That’s because unreimbursed employee business expenses are “miscellaneous itemized deductions” that aren’t deductible through 2025. The post Traveling for Business This Summer?

tax return 180

tax return CPA Tax business tax 180

RogerRossmeisl

AUGUST 28, 2022

QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. The post 3 Tax Breaks for Small Businesses appeared first on Roger Rossmeisl, CPA. Here are some examples. But it’s not available to C corporations or their shareholders.

Tax 198

Tax income tax CPA business tax 198

Nancy McClelland, LLC

DECEMBER 24, 2024

Specifically: * Companies created or registered prior to January 1, 2024 have until January 13, 2025 to file. Companies created or registered on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23, 2024 have until January 13, 2025 to file. What are my options?

Education 98

Education tax planning CPA Tax 98

CPA Practice

NOVEMBER 20, 2024

The 2025 Middle Market Survey report from UHY, shows the majority of business owners have at least some optimism when it comes to the state of business in 2025. To download the full 2025 Middle Market Survey report please visit: [link].

Healthcare 111

Healthcare Construction Account accounted 111

CPA Practice

AUGUST 16, 2024

The IRS on Thursday announced the opening of the application period for the 2025 Compliance Assurance Process (CAP) program on Sept. 31, and the IRS will inform applicants if they’re accepted into the program in February 2025. General program information and the 2025 application details are available on the CAP webpage.

Tax 105

Tax accounting principles tax return financial statements 105

RogerRossmeisl

JULY 16, 2022

Note: The federal estate tax exclusion amount is scheduled to sunset at the end of 2025. The post Your Estate Plan: Don’t Forget About Income Tax Planning appeared first on Roger Rossmeisl, CPA. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs.

income tax 198

income tax tax planning Tax CPA 198

RogerRossmeisl

FEBRUARY 28, 2022

In 2021 California passed AB 150, which provides that, in the taxable years 2021-2025, a so-called “qualified entity” (a S corporation, partnership, or LLC taxed as a partnership or S corporation) to make an election to pay a new pass-through entity (PTE) elective tax equal to 9.3%

California 198

California CPA Tax Start-ups 198

CPA Practice

APRIL 22, 2024

(TNS) The Social Security Administration typically releases annual cost-of-living adjustments (COLA) in mid-October, but one organization says it will likely be lower in 2025 than years past. The Senior Citizens League, a nonpartisan senior citizens group, released a 2025 COLA estimate of 2.6% in 2023 and 3.2% this year.

Government 111

Government 111

RogerRossmeisl

JULY 21, 2024

Important: Keep in mind that the federal estate tax exclusion amount is scheduled to sunset at the end of 2025. Don’t Overlook Income Taxes appeared first on Roger Rossmeisl, CPA. Beginning on January 1, 2026, the amount is due to be reduced to $5 million, adjusted for inflation. The post Planning Your Estate?

income tax 166

income tax Tax CPA 166