RogerRossmeisl

JUNE 9, 2021

Unfortunately, there aren’t a lot of great legal remedies. Legal contract An insurance policy is a contract. The post Unreliable or Fraudulent Insurance Coverage appeared first on Roger Rossmeisl, CPA. It’s possible that just when you have the greatest need, you’ll find yourself out in the cold.

Legal 246

Legal CPA 246

RogerRossmeisl

MAY 16, 2024

The valuation takes into account applicable valuation practices and standards, as well as any relevant legal precedents. appeared first on Roger Rossmeisl, CPA. Value conclusions When providing conclusions of value, valuators consider all approaches and procedures they deem appropriate for the circumstances.

Legal 239

Legal CPA accounted accountant 239

RogerRossmeisl

SEPTEMBER 26, 2022

The list is not a legal document or a literal listing of agency enforcement priorities. The post IRS Announces the “Dirty Dozen” Tax Scams for 2022 appeared first on Roger Rossmeisl, CPA. “Taxpayers.

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Tax CPA Legal Sales 236

RogerRossmeisl

MAY 16, 2024

There are several financial and legal implications when adding a new partner to a partnership. The post Growing Your Business With a New Partner: Here Are Some Tax Considerations appeared first on Roger Rossmeisl, CPA. Here’s an example to illustrate: You and your partners are planning to admit a new partner.

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Tax Legal CPA business tax 233

Anders CPA

NOVEMBER 18, 2024

Request a Virtual CFO Consultation The post The Young CPA Success Show: Mastering Your Niche in the Accounting World appeared first on Anders CPA. Episode Resources Email us to be a guest on the show Connect with John Scott on LinkedIn Check out our open positions Looking to accelerate the growth of your law firm?

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CPA accountant accounted Account 52

RogerRossmeisl

APRIL 17, 2024

Here’s how a fairness opinion from an independent business valuator can help protect against post-deal legal claims. However, fairness opinions don’t address legal or structural fairness, nor do they constitute an endorsement or a guarantee of a particular transaction.

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CPA Practice

MAY 24, 2024

If you receive an award or legal settlement relating to a personal injury or illness, you normally don’t owe any federal income tax on the payment. This includes legal judgments or awards resulting from personal injury lawsuits. Thus, any potion of a legal settlement attributable to punitive damages is taxable.

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RogerRossmeisl

FEBRUARY 23, 2022

Plus, the business’s value might be partially excluded from the marital estate, depending on state law, legal precedent and prenuptial agreements between the spouses. First up are tangible (or hard) assets, which include such items as cash, The post Valuing a Business for Divorce appeared first on Roger Rossmeisl, CPA.

Legal 244

Legal CPA 244

RogerRossmeisl

AUGUST 5, 2024

Additionally, part or all of the business may be excluded from the marital estate, depending on state law, legal precedent and prenuptial agreements between the spouses. The post Valuing a Business for a Divorce appeared first on Roger Rossmeisl, CPA. A business valuation professional can help the parties achieve a fair outcome.

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Legal CPA 220

RogerRossmeisl

AUGUST 9, 2021

These can lead to legal liability and fines. The post Preventing Fraud in your Construction Company appeared first on Roger Rossmeisl, CPA. Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud.

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Construction payroll tax payroll Legal 240

RogerRossmeisl

DECEMBER 15, 2022

As posted to IRS.gov as Tax Tip 2022-117 on 8/2/2022 A business might pay an independent contractor and an employee for the same or similar work, but there are key legal differences between the two. The post Worker Classification 101: Employee or Independent Contractor appeared first on Roger Rossmeisl, CPA.

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RogerRossmeisl

MAY 30, 2022

For example, a valuator might remove extraordinary or unusual items — such as proceeds from a legal settlement or short-term effects of hurricane damage — from a company’s income statement. The post Taking a Red Pen to Financials for Valuation Purposes appeared first on Roger Rossmeisl, CPA. Similarly, to better reflect.

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financial statements Legal CPA 237

CPA Practice

DECEMBER 3, 2024

The two firms operate as separate legal entities in an alternative practice structure: UHY LLP is a licensed independent CPA firm that performs attest services, while UHY Advisors provides tax and business consulting services through subsidiary entities. UHY is the brand name under which UHY LLP and UHY Advisors Inc.

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Non-Profits tax consultant cpa firm auditor 111

RogerRossmeisl

APRIL 17, 2024

Preliminary digging If you receive a fraud tip, you’ll need to assess its validity by conducting preliminary interviews — even if you plan to eventually turn the investigation over to legal and fraud experts. To help avoid unnecessary legal complications, keep details.

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CPA Practice

JANUARY 18, 2025

Clients just starting out need insight on which legal structure to select for their business. Seasoned entrepreneurs may need insight as their company grows and the entity once selected may not be as advantageous as it once was. The New Year is an ideal time to get a refresh on business entity options for your clients.

Legal 123

Legal 123

RogerRossmeisl

MAY 30, 2022

Adding a new partner in a partnership has several financial and legal implications. The post Tax Considerations When Adding a New Partner at Your Business appeared first on Roger Rossmeisl, CPA. Let’s say you and your partners are planning to admit a new partner. Here are two issues to consider: First, if there’s a change.

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Tax Legal CPA business tax 235

RogerRossmeisl

NOVEMBER 13, 2022

For example, someone who once worked in accounting might retain the ability to make journal entries even after transferring to the legal department. The post Preventing “Privileged User” Fraud and Abuse appeared first on Roger Rossmeisl, CPA. Or employees could collude with hackers.

Legal 228

Legal CPA accounted accountant 228

RogerRossmeisl

FEBRUARY 17, 2023

A solvency expert can help you and your legal counsel determine whether a liquidating business is capable of meeting its interest and repayment obligations. The post Keeping Debtors Honest with a Solvency Opinion appeared first on Roger Rossmeisl, CPA.

Legal 225

Legal CPA 225

RogerRossmeisl

JULY 16, 2023

Unfortunately, you can’t afford to ignore the possibility that your acquisition target is hiding something — possibly something that will have negative financial and legal implications after the deal is complete. Not if your Seller’s Hiding Something appeared first on Roger Rossmeisl, CPA. The post Good Acquisition?

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forensic accounting financial statements Legal CPA 223

CPA Practice

SEPTEMBER 13, 2023

Celebrating its 100 th birthday in 2023, the Arizona Society of CPAs works to create opportunities for its members, while working to promote the interests of Arizona CPAs with governments and regulatory agencies and organizations. We represent the voice of the CPA profession at the Arizona Capitol,” says Yandle.

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Arizona cpas CPA Louisiana 105

CPA Practice

JANUARY 17, 2023

In the last few years there has been a shortage of critical skills with regards to the accounting profession and especially in the output of North American and European professionals with CPA, EA and CMA qualifications. This is where skilled CPA, CMA AND EA professionals shine. Each state’s Board of Accountancy issues the CPA license.

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cma CPA accounting and finance public accounting 126

CPA Practice

JANUARY 7, 2025

Clients just starting out need insight on which legal structure to select for their business. Seasoned entrepreneurs may need insight as their company grows and the entity once selected may not be as advantageous as it once was. The New Year is an ideal time to get a refresh on business entity options for your clients.

Legal 114

Legal 114

Going Concern

JULY 13, 2022

We’ve now learned that the government is sending subpoenas to CPA firms that referred clients to Alliantgroup and is seeking client tax returns as part of the investigation. The letter does advise however that clients are welcome to consult with their own attorneys to better understand their rights in this legal matter.

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cpa firm CPA tax return Government 137

CPA Practice

OCTOBER 22, 2024

Since the beginning of the decriminalization and legalization of marijuana across a growing number of states, cannabis businesses and their CPAs have struggled to walk the tightrope of an industry that is locally legal, but federally illegal,” said Melanie Lauridsen, Vice President of Tax Policy and Advocacy for the AICPA.

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cpas Non-Profits Legal Tax 116

AdviceForTaxpreparers

SEPTEMBER 8, 2020

by Bill Meador, CPA, JD. Having been a CPA since 1992, I have been through more tax seasons that I want to remember. Once you have the coupon code you can promote it through whatever legal means that you deem appropriate (i.e., Facebook, Twitter, LinkedIn, talking directly to CPAs, accounting majors, accounting teachers, etc.).

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tax preparation Tax cpa firm tax return 246

CPA Practice

SEPTEMBER 30, 2024

Amy Vetter, CPA, noted that the emergence of private equity investment in firms has also affected how firm cultures develop and evolve, and asked how firms can protect their culture despite the change in business models. Your ability to collaborate, to be fearless and have conversations and communicate is necessary for a firm’s culture.”

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CPA North Carolina accountant accounted 119

CPA Practice

OCTOBER 31, 2023

recruitment and/or hiring tool, then carefully review the contract to understand what, if any, indemnities or other protections you’re getting from a vendor to understand your legal risks should a legal challenge to your use of A.I. While internal information technology resources may be able to help monitor and audit the A.I.

Legal 116

Legal audit payroll Technology 116

RogerRossmeisl

FEBRUARY 13, 2024

Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are potentially eligible to exclude from federal income tax 100% of their stock sale gains. That translates into a 0% federal income tax rate on QSBC stock sale profits!

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Tax income tax Legal CPA 192

CPA Practice

OCTOBER 29, 2024

Propense has engaged over half of the top 100 CPA firms in the United States and has identified approximately $33 billion in uncaptured revenue for professional services firms since its inception. Propense also plans to use the investment and partnership with Thomson Reuters Ventures to further expand its customer base.

Legal 69

Legal cpa firm CPA accountant 69

inDinero Tax Tips

JANUARY 13, 2025

Its prone to errors, time-consuming, and will cost you money through missed deductions or higher CPA fees come tax season. Begin by choosing your legal entity and separating business and personal finances. Secondly, doing so will save you money come tax time, since your CPA wont have to spend as long organizing your tax filings.

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bookkeeping accounting and finance Finance CPA 90

RogerRossmeisl

FEBRUARY 18, 2024

However, there may be ethical and legal implications of using these applications. The post Generative AI Can Help Prevent, Detect and Investigate Fraud appeared first on Roger Rossmeisl, CPA. Gen AI can also help reduce, uncover and combat fraud. Traditional fraud detection engines rely on rules to detect suspicious activity.

Legal 182

Legal CPA Technology 182

TaxConnex

APRIL 25, 2024

There’s another consideration for going in-house: The legal liability is all yours if you miss a compliance matter. You can outsource to many different software companies, CPA firms and other specialty firms to handle these tasks, but again come questions: What’s the vendor’s focus?

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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. But I am very pleased with their capabilities in each of the major practice areas.

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Technology accountant accounted Account 111

TaxConnex

DECEMBER 21, 2021

And it’s especially hard to find professionals who know taxes: Finding qualified staff is an enduring, front-burner concern that continues to challenge even CPA firms this year. There’s another consideration for going in-house: The legal liability is all yours if you miss a compliance matter. The Great Resignation saw a record 4.4

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Anders CPA

DECEMBER 24, 2024

If you are a reporting company, you should take this time to review BOI report requirements with your financial and legal team to ensure your compliance. Request a Meeting The post Updates to Beneficial Ownership Information (BOI) Reporting Deadlines appeared first on Anders CPA. The plaintiffs in National Small Business United v.

Legal 98

Legal CPA Tax 98

RogerRossmeisl

FEBRUARY 18, 2024

Typically, the valuator and client sign an engagement letter, which serves as a legally binding contract that helps the parties understand such parameters as the: Company being valued, Percentage or number of shares to appraise, Effective valuation date, Standard of value (such as fair market value, fair value or. The post Ready, Set, Value!

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Going Concern

JANUARY 3, 2025

The series is called Journeys of Accountancy and features accountants who, for example, work for a CPA firm specializing in the legalized cannabis industry in California, an accounting software company that serves the funeral industry, and a company that provides compliance services to the gaming industry.

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auditor audit Rhode Island cpa firm 98