RogerRossmeisl

JANUARY 1, 2024

The IRS just put up a new webpage and released FAQs having to do with the recently announced Employee Retention Tax Credit (ERTC) Voluntary Disclosure Program. ERTC Voluntary Disclosure Program On December 21, 2023, the IRS announced a new Voluntary Disclosure Program for businesses who claimed the ERC erroneously. The program is part of the IRS’ continuing efforts to combat questionable ERTC claims.

CPA 194

CPA Tax cpa firm business tax 194

Going Concern

JANUARY 1, 2024

We almost used a “woman in a photobooth wearing 2024 glasses next to a guy with a mustache on a stick” image for this post but realized prior to publication that was too millennial even for us. Happy New Year and congratulations to everyone who finished their CPE or got married just under the wire. Bonus points if you managed both. We’ll be doing some predictions for the year ahead soon but before we do, here are our wishes for you as we trudge into another year.

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RogerRossmeisl

JANUARY 1, 2024

As reported via IR-2023-230 on 12/6/2023 As part of continuing efforts to combat dubious Employee Retention Tax Credit (ERTC) claims, the Internal Revenue Service is sending an initial round of more than 20,000 letters to taxpayers notifying them of disallowed ERTC claims. IRS is disallowing claims to entities that: did not exist, or did not have paid employees during the period of eligibility to prevent improper ERTC payments from being made to ineligible entities.

CPA 185

CPA Tax cpa firm business tax 185

Insightful Accountant

JANUARY 1, 2024

Murph says, "Size doesn't matter", big or small, for some clients a simple accounting platform works, for many others, it takes much more, it takes an ERP.

accountant 105

accountant Account accounted 105

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

Account

RogerRossmeisl

JANUARY 1, 2024

As reported via IR-2023-247 on 12/21/2023 As part of an ongoing initiative aimed at combating dubious Employee Retention Tax Credit (ERTC) claims, the Internal Revenue Service launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERTC claims in error. 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

CPA 130

CPA Tax cpa firm business tax 130

Accounting Today

JANUARY 1, 2024

Working on any one of them will make life easier and better at your firm.

accountant 110

accountant Account accounted Tax 110

Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. For employees, minimum wage is increasing in Missouri and Illinois. Below we highlight any payroll tax and withholding updates or consistencies for 2024 that employers and employees should be aware of. Social Security Tax Withholding For 2024, the Social Security tax wage base for employees will increase to $168,600.

payroll tax 52

payroll tax payroll Tax Missouri 52

RogerRossmeisl

JANUARY 1, 2024

When you retire, you may think about moving to another state — perhaps because the weather is more temperate or because you want to be closer to family members. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax purposes may be more complex than you think. Pinpoint all applicable taxes It may seem like a smart idea to simply move to a state with no personal income tax.

Tax 100

Tax income tax CPA Sales 100

Insightful Accountant

JANUARY 1, 2024

User-friendly and powerful, ServiceM8 enables on-site job administration, allowing you to manage your business from anywhere.

quickbooks 52

quickbooks 52

RogerRossmeisl

JANUARY 1, 2024

Fraud occurs in companies of every size. But small businesses, especially new ones, have special risks because they generally can’t invest in expensive fraud-prevention programs. Thankfully, there are simple yet effective strategies that can reduce the likelihood of fraud, however small or new your company is. Understand the risk Fraud schemes can involve employees (occupational fraud) or third parties (including vendors, customers and cybercriminals).

financial statements 100

financial statements CPA 100

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Account

RogerRossmeisl

JANUARY 1, 2024

Monetary awards and settlements are often provided for an array of reasons. For example, a person could receive compensatory and punitive damage payments for personal injury, discrimination or harassment. Some of this money is taxed by the federal government, and perhaps by state governments. Hopefully, you’ll never need to know how payments for personal injuries are taxed.

Tax 100

Tax CPA Government accountant 100

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). The increased tax deduction partly reflects the price of gasoline, which is about the same as it was a year ago.

CPA 100

CPA Tax cpa firm business tax 100

RogerRossmeisl

JANUARY 1, 2024

It’s common for business valuation professionals to disagree about the valuation of a private interest — even when both are objective and apply sound valuation techniques. But sometimes opposing experts hired in a case are worlds apart in their opinions. How do you bridge the gap? A rebuttal expert can help. Resolving disputes Rebuttal reports can be useful in a variety of situations.

CPA 100

CPA cpa firm 100