RogerRossmeisl

DECEMBER 14, 2021

Most U.S. businesses operate as so-called “pass-through” entities, including partnerships, limited liability companies (LLCs) and S corporations. For decades, the IRS and valuation professionals have been at odds over how to value pass-through businesses because of their unique tax characteristics. Taxation of pass-through entities For pass-through entities, all items of income, loss, deduction and credit pass through to the owners’ personal tax returns, and taxes are paid at the level of the in

tax return 186

tax return CPA Tax 186

TaxConnex

DECEMBER 14, 2021

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. Blue bayou: Sales tax won’t be getting simpler in Louisiana any time soon. Voters have defeated an amendment that would have authorized a new commission to work on simplified electronic filing and remittance for all the state’s many sales and use taxes (each parish currently can have their own rules and tax rates).

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Sales Kansas Tax Iowa 246

AccountingDepartment

DECEMBER 14, 2021

Passing on the accounting and bookkeeping responsibilities of your company is a big task that requires a lot of trust as a business owner or CEO. There is no shortage of benefits that switching to a virtual accounting services provider has, but there are certain things to be aware of to weed through the options.

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bookkeeping accounted Account accountant 70

BurklandAssociates

DECEMBER 13, 2021

Recent news reports have revealed that cybercriminals are monitoring deal flow announcements and targeting affiliated startups. Moreover, according to stats, 50% of successful cyber attacks target small businesses. These days, Read More. The post Cybersecurity: Why it is Important & How it Can Give Startups a Competitive Edge appeared first on Burkland.

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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

DECEMBER 17, 2021

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the non-tax benefit of getting a company car.) Plus, current tax law and IRS rules make the benefit even better than it was in the past.

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Tax CPA business tax 210

TaxConnex

DECEMBER 16, 2021

2021 has been another year of tumultuous change. As the global pandemic dragged deep into the year, much longer than many anticipated, businesses were once again forced to adjust their strategies. The dramatic reduction in available skilled resources left many organizations trying to do more with less, even while business complexities continued to grow.

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Sales Tax audit Start-ups 241

inDinero Accounting

DECEMBER 13, 2021

Credit: Lukas Blazek. Running your own business can be rewarding, but it also requires a wide range of skills. One of the most critical aspects of running your own business is accounting. Unfortunately, not every business owner has the energy or knowledge to decide between cash vs. accrual or Netsuite vs. Quickbooks. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data.

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NetSuite accounting software quickbooks Account 105

RogerRossmeisl

DECEMBER 14, 2021

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three quick strategies that may help you trim your taxes before year-end. 1. Accelerate deductions/defer income. Certain tax deductions are claimed for the year of payment, such as the mortgage interest deduction. So, if you make your January 2022 payment in December, you can deduct the interest portion on your 2021 tax return (assuming you itemize).

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Tax tax return CPA tax planning 199

MyIRSRelief

DECEMBER 17, 2021

With tax season now right around the corner, it’s more important than ever to get your accounts and payroll 941/940 tax returns in order, rather than potentially find yourself staring down the wrong end of a substantial penalty from the Internal Revenue Service. Each year, countless business owners and taxpayers alike seek out employment tax help from tax professionals, EA, CPA, Attorney as understanding how employment tax works can be tricky and complex.

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Tax tax return payroll CPA 100

Withum

DECEMBER 15, 2021

There are many types of IRS approved retirement plans that could benefit employees, the self-employed and small businesses and its employees. Following is a listing of the more popular plans and the 2021 and 2022 contribution limits.

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Technology

xendoo

DECEMBER 16, 2021

The Tech Tribune staff has compiled once again the very best tech startups in Fort Lauderdale, Florida. In their research, they considered several factors including but not limited to: revenue potential, leadership team, brand/product traction, and competitive landscape. Congratulations to all companies nominated. It is an honor to be part of the growing South Florida Tech Scene!

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RogerRossmeisl

DECEMBER 17, 2021

Year-end is a good time to plan to save taxes by carefully structuring your capital gains and losses. Consider some possibilities if you have losses on certain investments to date. For example, suppose you lost money this year on some stock and have other stock that has appreciated. Consider selling appreciated assets before December 31 (if you think their value has peaked) and offsetting gains with losses.

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Tax CPA 197

ThomsonReuters

DECEMBER 16, 2021

Randolph v. E. Baton Rouge Parish Sch. Sys., 2021 WL 5577014 (5th Cir. 2021). Available at [link]. A retired employee sued her employer, alleging that the employer had, on two occasions, failed to provide her a timely COBRA election notice. While working, the employee had been placed on paid administrative leave pending an investigation into a complaint against her.

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Tax accountant accounted Account 98

IgniteSpot

DECEMBER 16, 2021

business accounting 93

business accounting Account accounted accountant 93

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

SkagitCountyTaxServices

DECEMBER 16, 2021

Whether you like it or not, you’ve most likely found yourself in a fight against inflation. Somebody hikes prices on your supplier and suddenly your supplier has no choice but to increase the price on you. Then you have no choice but to raise the price on your customer – who (even if they don’t tell you) notices … you can depend on that. Inflation is like that dung they say always rolls downhill — except the prices you pay go in the other direction.

CPA 91

CPA Tax 91

RogerRossmeisl

DECEMBER 17, 2021

(This is Blog Post #1142). The post Deducting Charitable Gifts in 2021 appeared first on Roger Rossmeisl, CPA.

CPA 195

CPA 195

ThomsonReuters

DECEMBER 16, 2021

Form 5498-SA (HSA, Archer MSA, or Medicare Advantage MSA Information) (2022); Instructions for Forms 1099-SA and 5498-SA (2022). Form 5498-SA. Form 1099-SA and 5498-SA Instructions. The IRS has released Form 5498-SA for the 2022 tax year, along with its instructions, which are combined with the instructions for Form 1099-SA. (The 2022 General Instructions for Certain Information Returns, which relate to these and certain other information returns, have not yet been released.

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Tax Account accountant accounted 98

xendoo

DECEMBER 13, 2021

When you get behind in your books, you might find yourself sweating a bit. In addition to being worried about how you’ll get caught up, you may also be concerned about the catch-up bookkeeping price you’ll have to spend to bring your financial data up-to-date. Most business owners find that catch-up bookkeeping services are well worth the price. But before we cover the actual cost of a catch-up bookkeeping service, let’s explore the reasons why businesses should consider relying on an accounting

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bookkeeping bookkeeping services tax preparation accounting and finance 83

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

GrowthForceBlog

DECEMBER 11, 2021

7 min read. The end of the year marks a time of celebration and festivity. But for business owners, this time means much more than that: year-end planning is here.

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RogerRossmeisl

DECEMBER 14, 2021

The U.S. supply chain is overwhelmed and it’s expected to remain so for some time. With so many shipments tied up in ports and too few workers to watch them, cargo theft has become a significant problem. Yet theft from ports of entry isn’t the only way goods disappear. Criminals routinely target truck shipments as well. Cargo theft costs companies somewhere between $15 billion and $35 billion annually, according to the National Insurance Crime Bureau.

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ThomsonReuters

DECEMBER 16, 2021

2021 Forms 1094-B, 1095-B, 1094-C, and 1095-C; 2021 Instructions for Forms 1094-B and 1095-B; 2021 Instructions for Forms 1094-C and 1095-C. Form 1094-B. Form 1095-B. Form 1094-C. Form 1095-C. B Form Instructions. C Form Instructions. The IRS has released final Affordable Care Act (ACA) information reporting forms and instructions for 2021. As a reminder, Forms 1094-B and 1095-B are filed by minimum essential coverage providers (insurers, government-sponsored health programs, and some self-insur

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Tax Government accountant accounted 98

Patriot Software

DECEMBER 13, 2021

You’ve finished distributing Forms W-2. Just when you think you’re done, an employee comes up to you, hands you their form, and asks, Why are my W-2 Box 1 earnings less than my Box 3 and Box 5 earnings? Panicked, you glance over the W-2. That doesn’t help. You do a quick search of Form […] READ MORE.

payroll 78

payroll 78

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

Withum

DECEMBER 15, 2021

Finance 78

Finance 78

RogerRossmeisl

DECEMBER 17, 2021

If your business is successful and you do a lot of business travel, you may have considered buying a corporate aircraft. Of course, there are tax and non-tax implications for aircraft ownership. Let’s look at the basic tax rules. Business travel only In most cases, if your company buys a plane used only for business, the company can deduct its entire cost in the year that it’s placed into service.

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Tax CPA business tax 186

xendoo

DECEMBER 15, 2021

Whether they coach chess players or sell organic puppy food online, every small business owner shares a common driving force: a passion for growing their business. Increasing sales and gaining new customers is one part of the equation. Consistent bookkeeping provides the financial insight needed to strategize for long-term success. With so many obligations resting on the business owner’s shoulders, it can feel like there are not enough hours in the day to accomplish every task, and eventually th

bookkeeping 69

bookkeeping financial statements bookkeeping services Tax 69

inDinero Accounting

DECEMBER 13, 2021

Credit: Lukas Blazek Running your own business can be rewarding, but it also requires a wide range of skills. One of the most critical aspects of running your own business is accounting. Unfortunately, not every business owner has the energy or knowledge to decide between cash vs. accrual or NetSuite vs. Quickbooks. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data.

NetSuite 59

NetSuite accounting software quickbooks Account 59

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

DECEMBER 16, 2021

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RogerRossmeisl

DECEMBER 17, 2021

In a business valuation context, the term “marketability” refers to the ability to quickly convert property to cash at minimal cost. While publicly traded stocks are readily marketable, interests in private companies typically require substantial time, cost and effort to sell. To the extent that public stock data is used to value private businesses, a discount may be warranted to reflect the lack of marketability.

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CPA cpa firm 181

LSLCPAs

DECEMBER 17, 2021

Private Companies and Non-Profits Must Comply by Original Deadline. The Financial Accounting Standards Board FASB rejected the Pennsylvania Institute of CPA’s (PICPA) request for a two-year extension of the lease accounting standard’s due date. The lease standard takes effect for nonpublic entities for fiscal years beginning after Dec. 15, 2021, and interim periods within fiscal years.

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accounting standards Pennsylvania Non-Profits Account 52

ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”. The Global Minimum Tax is the latest initiative spinning off of the Base Erosion and Profit Shifting (BEPS) initiative from the Organisation for Economic Co-operation and Develo

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Tax corporation tax Delaware Washington 52

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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.