Bharmal&Associates

JANUARY 13, 2021

You spend all the PPP money on yourself if you are self-employed or operate as a partnership; on payroll (including pay to you, if that applies); and on other covered expenses such as rent, interest, utilities, operations, property damage, suppliers, and worker protection. Premier Orange County CPAs. Don’t procrastinate.

payroll 147

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BuildYourFirm

MARCH 26, 2020

In addition, the bill would ensure the Small Business Administration could serve as a guarantor for loans of up to $10 billion for small businesses to make sure they can maintain their payrolls and pay off their debts.

Hospitality 163

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CPA Practice

APRIL 1, 2024

Since 2021, the American Institute of CPAs (AICPA) has spoken out against unscrupulous third-party vendors promoting improper Employee Retention Credit (ERC) claims. The Internal Revenue Service has heeded the concerns of CPAs from across the country and taken steps to curb fraudulent ERC claims.

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Bharmal&Associates

OCTOBER 23, 2020

First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty. Premier Orange County CPAs. Getting the S corporation salary right is important. Planning note.

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Bharmal&Associates

SEPTEMBER 21, 2020

The Payroll Protection Program (PPP) rules—they keep a-changing. During the past month, the Small Business Administration (SBA) issued a new set of frequently asked questions (FAQs) and a new interim final rule, which in combination create the following good news for the Payroll Protection Program (PPP): More forgiveness.

payroll 147

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ThomsonReuters

NOVEMBER 8, 2022

Who needs to know : Payroll professionals, payroll departments, tax departments, third-party payroll providers. Payroll Guide ¶4264 Basic Principles. Payroll Guide ¶4268 Form 1099-MISC. Payroll Guide ¶4271 Form 1099-NEC. The post What’s Hot on Checkpoint for Payroll and Benefits Professionals?

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MyIRSRelief

MARCH 15, 2024

From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable. Whether it’s unfiled returns, unpaid taxes, payroll issues, or audit concerns, prompt action is key to finding a resolution.

California 130

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PYMNTS

AUGUST 27, 2019

However, there’s an area of B2B FinTech that appears to have left a gap in the market: While there are solutions for CPAs to better manage their clients’ funds, Dustin Hall, director of CPACharge at card processing company AffiniPay , says CPAs lack a seamless way to get paid from those customers. Changing CPA Roles.

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Bharmal&Associates

AUGUST 13, 2020

Tax law definitions do not apply to much of the Payroll Protection Program (PPP), making it new ground for owners of S corporations. If I pay myself on a W-2, I lack the look-back period of 2019 payroll. Should I go on payroll and hope for the best? Premier Orange County CPAs. Spouse Owns S Corporation. Am I out of luck?

Non-Profits 130

Non-Profits payroll tax return Tax 130

Bharmal&Associates

AUGUST 13, 2020

As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package. an S corporation, receives a $100,000 PPP loan, spends it all on defined payroll, and the lender forgives the $100,000. He would have the $100,000 plus the tax benefit of the payroll deduction ($45,000).

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CPA Practice

MAY 11, 2023

Accounting firms have faced a volatile profession in the past year as teams struggled with burnout while staff shortages increased, regulatory changes caught firms off guard – increasing compliance and security concerns – and tax laws became increasingly more confusing for clients and CPAs alike.

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LSLCPAs

MAY 8, 2024

Is the balance in your payroll liability accounts ever-increasing, with no explanation why? The post Reconciling Payroll Liabilities in Local Government Agencies: Accounts That Always Seem Wrong and Everyone Avoids appeared first on LSL CPAs. Do you have liability accounts with large debit balances?

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Withum

OCTOBER 23, 2024

Outsourced accounting offers several advantages for managing uncontrollable costs: Industry Expertise : For example, our Withum team of CPAs and MBAs specialize in real estate accounting. Cost Efficiency : Outsourcing eliminates the need for in-house accounting staff, reducing payroll expenses.

Real Estate 52

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CPA Practice

NOVEMBER 6, 2024

This webinar will be held on Thursday, November 21, 2024 at 1:00pm ET Sponsor: CorpNet.com Duration: 1 Hour Register Now It’s best that accountants, CPAs, and tax professionals are up to date on entity advantages to assist their clients in making the best decision when it comes to choosing which entity option is best for their business.

Indiana 59

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CPA Practice

JUNE 28, 2023

With 39% of business owners reporting that they find managing finances and accounting a key challenge, there’s a great opportunity for CPAs to step into an advisory role and support entrepreneurs with tech tools. CPAs who understand the technology landscape and how services integrate with one another are well positioned to guide clients.

Technology 118

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CPA Practice

AUGUST 3, 2023

For the last two years, the American Institute of CPAs (AICPA) has diligently and consistently advocated on behalf of taxpayers and CPAs to the Internal Revenue Service (IRS) and the Department of the Treasury regarding unscrupulous third-party vendors promoting improper Employee Retention Credit (ERC) claims.

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LSLCPAs

JUNE 28, 2021

Payroll is one of your company’s biggest expenses representing 30 to 50% of all of your expenses depending on your industry. The post Why, How, & When to Reconcile Payroll and What the TPA Needs for Census appeared first on LSL CPAs. Your employees are one of your greatest assets.

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MyIRSRelief

NOVEMBER 3, 2023

Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable. Under federal law, Enrolled Agents, like attorneys and CPAs, have unlimited practice rights. Who are Enrolled Agents? Contact us for professional tax help today!

Tax 130

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Bharmal&Associates

JULY 30, 2020

Here’s the big difference: If the 24-week covered period applies, your loan forgiveness for your deemed payroll is capped at 2.5 If you elect the eight-week covered period, your loan forgiveness for your deemed payroll is capped at eight weeks, not to exceed $15,385. Premier Orange County CPAs. Why Is This Important?

payroll 130

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Shay CPA

MAY 3, 2023

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. To submit it, you need to attach it to your payroll tax returns (e.g.,

payroll tax 52

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Bharmal&Associates

SEPTEMBER 4, 2020

In another recent review, the owner of Ace Mirror & Glass, Ali Noordin, praised the accounting services for a glass installation company highlighted our ongoing services that we perform for them, including bookkeeping, payroll, and tax services. Premier Orange County CPAs. They’re family-based.

Healthcare 130

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Shay CPA

MARCH 6, 2024

For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. To submit it, you need to attach it to your payroll tax returns (e.g.,

payroll tax 52

payroll tax payroll Tax tax return 52

CPA Practice

DECEMBER 15, 2023

QuickBooks Online Many accountants and CPAs recommend Intuit QuickBooks to their clients for good reason. Xero also works with Gusto Payroll, offering users payroll services as well. The products are not in any particular order, but all offer a good solution for businesses struggling to manage their accounting. a month.

accounting system 116

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Basis 365

JANUARY 19, 2025

To mitigate this, every company, regardless of its size, needs a reliable and efficient accounting team to handle bookkeeping, financial reporting, payroll, and more. The costs quickly add up, especially when you consider the need for skilled professionals like CPAs or financial analysts.

bookkeeping 52

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MyIRSRelief

JULY 3, 2023

During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. They can help implement internal controls, review payroll processes, and provide guidance to minimize the risk of errors or discrepancies in future ERC claims.

audit 130

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Snyder

JULY 13, 2022

While the concept of CAS isn’t new, it’s still not known to many business owners and lots of certified public accountants (CPAs) struggle to persuade their clients to switch to this format of accounting. CPAs traditionally try to widen or narrow the scope of the services they provide to make sure the needs of their clients are met.

accounted 105

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Bharmal&Associates

SEPTEMBER 21, 2020

Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back. Premier Orange County CPAs. Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic.

cpas 130

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CPA Practice

JANUARY 2, 2024

The strategic acquisition also encompasses Mueller dotKonnect , a business process outsourcing firm specializing in finance, accounting, tax and payroll functions. Tang joins the firm from Marcum Asia CPAs LLP where he served as an Audit Partner.

Illinois 114

Illinois E-commerce Pharmaceutical Real Estate 114

CPA Practice

JULY 3, 2024

However, the American Institute of Certified Public Accountants (AICPA) estimated that about 75% of CPAs will soon reach retirement eligibility. One solution to this problem is hiring more accountants to better distribute the volume of work. These tools can significantly enhance efficiency and accuracy.

Technology 128

Technology accounting firms accounted Account 128

Steve Feinberg

NOVEMBER 29, 2023

At Appletree Business Services, everything we do is for our clients—from bookkeeping to payroll and more. Clutch’s recognition is a verified promise to our clients that their business is in the best possible hands when they choose to work with our team of bookkeepers, accountants, CPAs, and consultants.

New Hampshire 98

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ThomsonReuters

MAY 6, 2022

Many CPAs offer consulting services alongside regular tax preparation, which helps create additional revenue for the firm and provides additional support for clients. Other offerings such as bookkeeping and payroll are year-round services that could boost your firm’s profits and diversify income.

accounting firms 93

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CPA Practice

APRIL 15, 2024

Sangeeta Chhabra CPAs and finance professionals today understand the importance of transparency and collaboration; however, lack of uniformity acts as an obstacle to seamless coherence in data management processes. While navigating these challenges, generative AI is emerging as a promising prospect. What is next?

CPA 122

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CPA Practice

AUGUST 30, 2023

One of the panelists, Jackie Cardello, president and managing partner of Bethesda, MD-based GRF CPAs & Advisors, said the stigma and the stereotype associated with CPAs and accountants—and the profession in general—needs to change, and that change can begin in high school. You don’t have to be a CPA.

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CPA Practice

OCTOBER 24, 2023

many of these entrepreneurs have long relied on the services of tax professionals or CPAs for year-end compliance needs, and to retroactively compile, reconcile and correct their clients’ books and produce financial reporting. In the U.S.,

Sales 111

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Going Concern

AUGUST 30, 2024

For now, accountants more than justify their line items on the payroll. So they’re sending CPAs into schools to talk about their career (and throw candy at the students ). Like all current day AI tools, it sometimes pulls things out of its ass. It’s just that their employers don’t get that.

accounted 114

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ThomsonReuters

FEBRUARY 14, 2022

Do you need “virtual CPAs” who can excel in a remote or hybrid working model? With different tax, accounting, and payroll software and solutions , you need to find employees who are familiar with and comfortable working with various systems. Would you describe your workplace as ultra-corporate or casual? Work style.

accounted 92

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MyIRSRelief

MARCH 15, 2023

Tax professionals, such as certified public accountants (CPAs), EAs enrolled agents and tax attorneys, can help you navigate the complex tax laws and negotiate with the IRS on your behalf. Trucking companies must manage a large amount of financial data, including expenses, invoices, payroll, and taxes.

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