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 169

Tax CPA business tax 169

Lockstep

JUNE 8, 2022

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

accountant 141

accountant Account accounted 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 226

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

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.

accountant 190

accountant Account accounted CPA 190

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.

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South Dakota Sales Tax Start-ups 214

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 187

CPA business tax Tax 187

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 127

audit Tax accountant Account 127

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

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Tax income tax Pharmaceutical Manufacturing 126

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

Intuitive Accountant

JUNE 7, 2022

While it might take a little more effort for small business accountants or owners to focus on sustainable practices, there are things you can do. Xero's Latisha Carter explains.

accountant 105

accountant Account accounted small business accounting 105

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 180

Maine CPA Tax 180

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 125

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.

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Tax Manufacturing tax return tax services 121

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financial statements

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 Account accounted 105

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 171

CPA accountant Account accounted 171

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 125

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).

Sales 120

Sales tax services business tax audit 120

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Sales

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. .

bookkeeping 105

bookkeeping tax planning Tax accounting software 105

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.

Tax 160

Tax tax return CPA 160

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.

audit 111

audit auditor financial statements Washington 111

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

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Ryan Lazanis

JUNE 9, 2022

Streamline your processes with this essential 1st step so you can focus on growing your firm and spend less time on the tedious work. Listen below. 0:58 – Technology is a great tool, but it’s not the first step to creating a firm that can scale and run smoothly. 1: 26 – What you offer your clients and how you standardize those offers is the first step to a scalable firm. 1:44 – The more ways in which you offer means you’re multiplying the number of processes required to service

Technology 104

Technology accountant accounted Account 104

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 202

CPA 202

Going Concern

JUNE 10, 2022

Guys (and gals) I don’t know how many times we have to say this but please, please don’t bang people you work with. There are like three billion men or women in the world for you to pick from (6 billion if you’re bisexual heck yeah *high five* ); more precisely there are 2.3 billion adults between the ages of 20 and 39 across the globe , add another 1.8 billion to that if you’re into cougars (in which case hey, call me) and that gives you 4.1 billion/2 people to potential

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public accounting audit accounting firms accountant 98

Canopy Accounting

JUNE 10, 2022

If you’ve driven at all in the last few months, you’ve probably noticed the unusually high gas prices across the country. According to AAA , the national average is nearing $5 per gallon. In light of this, the IRS has announced a rare mid-year increase to the standard mileage rates for the remainder of 2022.

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Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Withum

JUNE 9, 2022

Jim Ferrare , Managing Principal of Withum Wealth Management and Principal of Withum’s sub-investment advisor Pinnacle Associates, was named to this year’s 2022 Best-In-State Wealth Advisors list by Forbes for the fifth year in a row. A Chartered Financial Analyst® (CFA®) and CPA, Jim is an investment advisor who helps clients understand and manage investments as they enter new stages of life, such as a business transition, retirement planning, divorce, death of spouse and inheritance.

Legal 98

Legal CPA Tax 98

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 157

CPA 157

Reckon

JUNE 7, 2022

It’s almost 1 July, you know what that means right? Tax time is looming, and it’s time to finalise your EOFY to hit the ground running. You’ll need to organise tax returns, refresh your business plan, balance your books, do a year in review, consult with your accountant, and ensure absolute compliance with the ATO. But you knew that already. It also means a few metric tons of brow-furrowing pressure and stress.

Tax 98

Tax bookkeeping tax return accountant 98

ThomsonReuters

JUNE 9, 2022

IRS Employee Plans News (June 3, 2022). Available at [link]. The IRS has announced a pre-examination compliance program for qualified retirement plans, including 401(k) plans. Under this pilot program, which begins this month, sponsors of plans that have been selected for an upcoming IRS examination will be notified by letter. The plan sponsor then will have 90 days to review its plan documents and operations for compliance with Code requirements and respond to the IRS.

Tax 98

Tax accountant Account accounted 98

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