Sun.Aug 11, 2024

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How Are Series EE Savings Bonds Taxed?

RogerRossmeisl

Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to 2011, they were designated as “Patriot Bonds” as a way for Americans “to express support for our nation’s anti-terrorism efforts,” according to the U.S. Treasury Department.

Tax 215
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QuickBooks Online Now Offers Shipping

Insightful Accountant

Murph takes you step-by-step through configuring the new QBO shipping feature, setting up your ShipEngine account, and processing your first shipment.

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A Business Valuator is a Must-Have When Filing a Business Interruption Claim

RogerRossmeisl

Meteorologists warn that the 2024 hurricane season could break records, possibly surpassing 2020, the worst hurricane season on record. Even if hurricanes aren’t a threat where your business operates, other natural disasters — such as floods, wildfires and tornadoes — could impact your normal operations. Interruptions from these disasters and other crises can cause significant financial losses.

CPA 189
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Accounting services not for profit

Accounting for Good

For many not for profit organisations having an internal finance department is costly. Outsourcing this function to professionals makes economic sense.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

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IRS Resumes Processing of ERTC Claims

RogerRossmeisl

As appearing in IR-2024-203 Agency accelerates work on complex credit as more payments move into processing. Vigilance, monitoring continues on potentially improper claims On 8/8/24, the Internal Revenue Service announced additional actions to help small businesses and prevent improper payments in the Employee Retention Tax Credit program, including accelerating more payments and continuing compliance work on the complex pandemic-era credit that was flooded with claims following misleading mark

audit 188
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The Tax Implications of Disability Income Benefits

RogerRossmeisl

Many Americans receive disability income. Are you one of them, or will you soon be? If so, you may ask: Is the income taxed and if it is, how? It depends on the type of disability benefit and your overall income. The key issue is: Who paid for the benefit? If the income is paid directly to you by your employer, it’s taxable to you just as your ordinary salary would be.

Tax 184

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IRS Shares Additional Warning Signs of Incorrect Claims for ERTC

RogerRossmeisl

As appearing in IR-2024-198 Businesses urged to proactively resolve erroneous claims to avoid penalties, interest, audits As the Internal Revenue Service intensifies work on the Employee Retention Tax Credit (ERTC), the agency today shared five new warning signs being seen on incorrect claims by businesses. The new list comes from common issues the IRS compliance teams have seen while analyzing and processing ERTC claims.

CPA 173
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Assemble a Comprehensive Cybersecurity Plan

RogerRossmeisl

Regardless of their size, businesses rely heavily on technology. Although your network and computer-related tools are essential to function, they’re also a potential liability because they can offer cybercriminals access to your company. To protect against this complex and ever-evolving threat, businesses must deploy a comprehensive cybersecurity program.

CPA 163
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Do You Owe Estimated Taxes? If So, When is the Next One Due?

RogerRossmeisl

Federal estimated tax payments are designed to ensure that certain individuals pay their fair share of taxes throughout the year. If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains, a pension or other income that’s not covered by withholding.

Tax 150
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The Possible Tax Landscape for Businesses in the Future

RogerRossmeisl

Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How we got here The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made extensive changes to small business taxes.

Tax 196
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.