RogerRossmeisl

JUNE 5, 2022

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated taxes without triggering the penalty for underpayment of estimated tax. Four methods The required installment of estimated tax that a corporation must pay to avoid a penalty is the lowest amount determined under each of the following four methods: Under

Tax 174

Tax CPA business tax 174

Lockstep

JUNE 8, 2022

Email is not meant to solve your accounting workflow management challenges.

Account 141

Account accounted accountant 141

BurklandAssociates

JUNE 7, 2022

This conversation is from an episode of Startup Success. In this special episode, Burkland’s Steve Lord, CFO Fintech Practice Lead, and Daniel Rosenbaum, Burkland Consulting CFO, give candid advice on Read More. The post The 3 C’s of Downturn Planning: Cash, Communication, Contingency appeared first on Burkland.

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TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Food for thought. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Kansas and Tennessee just became the latest states to green light such exemptions.

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Sales Tax Colorado Massachusetts 246

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

Finance

RogerRossmeisl

JUNE 5, 2022

(This is Blog Post #1222). The post A Compensation Plan That Rewards Top Talent appeared first on Roger Rossmeisl, CPA.

CPA 210

CPA 210

Patriot Software

JUNE 9, 2022

You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living? But, how often have you thought about the relationship between the cost of living and your business? If it’s crossed your mind before, then […] READ MORE.

accountant 142

accountant accounted Account 142

TaxConnex

JUNE 7, 2022

The exploding world of eCommerce has put a new player front and center: the marketplace facilitator. They’re platforms where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. They’ve been around for years, and today some of the biggest names are Amazon, eBay and Etsy.

South Dakota 246

South Dakota Sales Tax Start-ups 246

RogerRossmeisl

JUNE 5, 2022

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have been in recent years. HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.

Account 198

Account accounted accountant CPA 198

ThomsonReuters

JUNE 6, 2022

The reality is, technical competence still lies at the heart of adding value. When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?

accounting standards 142

accounting standards Account accounted accountant 142

Accounting Today

JUNE 9, 2022

Technology 134

Technology Account accounted accountant 134

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Technology

Going Concern

JUNE 6, 2022

Big 4 compensation season kicked off a little more than a week ago when Deloitte employees got their comp statements and then proceeded to head over to r/accounting to whip it out and show it off for all to see. Since the last time Deloitters got their comp statements in May 2021 , the firm in December bumped up base pay for employees whose salaries were below market rates.

audit 126

audit Tax accounted Account 126

RogerRossmeisl

JUNE 5, 2022

Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be reported. Beginning this year, the threshold has dropped significantly for the filing of Form 1099-K, “Payment Card and Third-Party Network Transactions.” Businesses and workers in certain industries may receive more of these forms and some people may even get them based on personal transactions.

CPA 194

CPA business tax Tax 194

Withum

JUNE 6, 2022

On May 27, 2022, the IRS released its sixth pronouncement regarding the types of businesses that can qualify for the qualified small business stock (QSBS) exclusion. The ruling is the fourth time the IRS has addressed the health exclusion in section 1202(e)(3) , the third time it has addressed the exclusion for businesses where the principal asset is the reputation or skill of one or more of its employees, and the first time the IRS has opened the door for pharmacy businesses to qualify for the

Tax 126

Tax income tax Pharmaceutical Manufacturing 126

Accounting Today

JUNE 7, 2022

Account 132

Account accounted accountant accounting firms 132

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

payroll

Going Concern

JUNE 9, 2022

Just about every e mployer in corporate America is singing the blues about talent shortages caused by the Great Reset and the Great Resignation. However, these effects are not being felt uniformly across all businesses. Those employers with a history of mismanaging their human capital , like the largest audit firms, are being hit the hardest. The public accounting business model has relied excessively on its ability to counter the effects of massive turnover with its ability to hire and train ma

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audit auditor public accounting cpas 124

RogerRossmeisl

JUNE 5, 2022

Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to a file cabinet or safe deposit box. One of the main reasons for buying U.S. savings bonds (such as Series EE bonds) is the fact that interest can build up without the need to currently report or pay tax on it.

Maine 187

Maine CPA Tax 187

Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. These excise taxes were initially introduced in 1980 and expired in 1995.

Tax 121

Tax Manufacturing tax return tax services 121

Accounting Today

JUNE 9, 2022

accounting firms 130

accounting firms audit accountant accounted 130

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Finance

Going Concern

JUNE 7, 2022

As we watch gas prices tick higher and higher, commercial lessors and middle managers everywhere are anxious to get people back in chairs. Their chairs. Gross, old, shared-space, contains-the-farts-of-coworkers-past chairs. Nothing at all like the luxurious gaming chair your firm WFH stipend covered, though let’s be honest that one is harboring some ghost farts too.

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Gaming Georgia California Start-ups 124

RogerRossmeisl

JUNE 5, 2022

Valuing a private business is a complex endeavor. But, when all is said and done, valuation analyses boil down to three general approaches. 1. Market approach Under this approach, valuators derive pricing multiples from public or private comparable transactions. These pricing multiples are then applied to the subject company to derive its value. For example, an expert might calculate a median price-to-earnings multiple of 4.5 based on a sample of six comparable transactions.

CPA 177

CPA accountant accounted Account 177

Withum

JUNE 8, 2022

The IRS’ “Dirty Dozen ” is an annual list warning taxpayers of abusive tax arrangements, schemes, scams, and shams. It’s no surprise to see “Monetized Installment Sales” (“M453”) join the “bad boys” of tax schemes as the IRS has recently alluded to its problematic structure (including the investigation of M453 promoters and the release of Chief Counsel Advice 202118016).

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Sales tax services business tax audit 120

Accounting Today

JUNE 9, 2022

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Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

Going Concern

JUNE 10, 2022

This press release from the SEC is wayyyy too boring to be rewritten in an interesting way on a sunny Friday afternoon so have some copy paste instead: The Securities and Exchange Commission today charged audit firm CohnReznick LLP with improper professional conduct on engagements for two clients in 2017. The two clients, Sequential Brands Group, Inc. and Longfin Corp., previously were charged by the SEC for filing fraudulent financial statements prior to their bankruptcies and Nasdaq delisting.

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audit auditor financial statements Washington 110

RogerRossmeisl

JUNE 5, 2022

Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You could also be eligible for tax breaks. Here’s a rundown of some of them. Medical expenses. If the individual qualifies as your “medical dependent,” and you itemize deductions on your tax return, you can include any medical expenses you incur for the individual along with your own when determining your medical deduction.

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Tax tax return CPA 164

ThomsonReuters

JUNE 9, 2022

QUESTION: One of our DCAP participants will soon take a ten-week maternity leave, following the birth of her second child. Her two-year-old child will be at home during this time instead of attending day care, but the provider will charge her half of the regular monthly fee to hold the child’s spot during the leave. Can our DCAP reimburse this fee?

Tax 105

Tax accountant accounted Account 105

Accounting Today

JUNE 9, 2022

Tax 126

Tax 126

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Spend Management

Withum

JUNE 9, 2022

Here are ten well-used and time-tested “rules” or principles of business. I abbreviated them and added some comments, and chose ones I like and think about and apply often. Each has expanded versions and come from books that should be read, but this list is a pretty good way to start thinking in a more focused way, enjoy! Comment: I dispensed with the quotation marks and paraphrased some, but none are original thoughts of mine except those from my Power Bites book.

Tax 105

Tax 105

RogerRossmeisl

JUNE 5, 2022

Supply chain issues continue to hurt many U.S. businesses — possibly in more ways than you think. Not only do supply shortages and delays make it difficult for companies to ramp up business and recover from the pandemic slowdown, but they also make some fraud schemes easier to perpetrate. For example, criminals might advertise hard-to-get goods, then ship defective products — or no products at all — to unsuspecting buyers.

CPA 161

CPA 161

Xero

JUNE 7, 2022

It’s no secret that end of financial year (EOFY) comes with its challenges for many self-employed Australians. Whether you’re a sole trader, side-hustler or freelancer, understanding deductions to super and taxes – on top of running your own show – is enough to make anyone’s head spin. Thankfully, there’s a way to make sense of it all. How? By talking to your advisor. .

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bookkeeping tax planning Tax accounting software 105

Accounting Today

JUNE 6, 2022

Technology 126

Technology Tax 126

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