CPA Practice

FEBRUARY 1, 2024

Roseland, NJ-based tax and advisory practice Magone & Co. has signed an agreement to merge with Hackensack, NJ-based CPA firm Wurdemann, Pinto & Co. The combined firm will employ approximately 40 people. Financial terms of the deal weren’t disclosed. Founded in 1992, Magone & Co.

Real Estate 52

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RogerRossmeisl

JANUARY 4, 2023

The reason: The inventory taken into account in calculating the cost of goods sold under LIFO reflects current costs, which are usually higher. The post How to Minimize the S Corporation LIFO Recapture Tax appeared first on Roger Rossmeisl, CPA.

Tax 203

Tax CPA Account accountant 203

RogerRossmeisl

JUNE 26, 2022

The IRS maintains a library of Audit Techniques Guides (ATGs) intended to help IRS examiners during audits by providing insight into issues and accounting methods unique to specific industries. While ATGs are designed to provide guidance for IRS employees, they’re also useful to small business owners and tax professionals who.

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audit auditor CPA Tax 234

Snyder

JANUARY 10, 2023

Business owners are fully aware of the importance of accounting, but how much should they expect to pay for it? A business owner must understand how much, on average, business accounting costs. After all, accounting, as an integral part of a business, is something not to put aside.

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Account accountant accounted bookkeeping 59

Going Concern

DECEMBER 2, 2022

Why People Leave Public Accounting [ CPA Journal ]. Writes Edward Mendlowitz, CPA/PFS, ABV: There are many reasons why CPAs decide to leave public accounting firms. The following is a discussion of what I have found to be the most common reasons why people leave public accounting.

public accounting 93

public accounting audit Account accountant 93

CPA Practice

AUGUST 3, 2023

By Bruce Willey, JD, CPA, Kiplinger Consumer News Service (TNS) The U.S. Supreme Court has agreed to hear a landmark tax law case this fall, highlighting again the ever-changing extreme complexity of federal tax law. But accounting firms tend to be very compliance-oriented and also highly risk-averse.

Tax 97

Tax audit CPA Legal 97

ThomsonReuters

AUGUST 2, 2022

Even as accounting firms emerge from the COVID-19 pandemic with a new appreciation for technology’s ability to enable remote work and seamless collaboration, a new challenge has surfaced. Increasing productivity with tax technology. There is no question that manual processes bog down productivity. Detect inaccuracies.

Technology 98

Technology Tax Non-Profits tax preparation 98

RogerRossmeisl

NOVEMBER 7, 2020

If the rate paid doesn’t exceed IRS-approved maximums, and the employee provides simplified substantiation (time, place, and business purpose): the reimbursement is treated as made under an accountable plan (e.g. The post Per-Diem Rates for Post-9/30/20 Business Travel appeared first on Roger Rossmeisl, CPA.

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payroll tax CPA payroll Tax 190

RogerRossmeisl

SEPTEMBER 30, 2021

It reports that 2021 is set to be the biggest in M&A history, with the United States accounting for $2.14 If you’re considering buying or selling a business — or you’re in the process of an M&A transaction — it’s important that both parties report it to the IRS and state agencies in the same way.

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CPA audit Sales Account 130

Shay CPA

JANUARY 10, 2024

Learn more about Shay CPA’s relationship with Betterment. Betterment is not a tax advisor, nor should any information herein be considered tax advice. Please consult a qualified tax professional. As a CPA for tech firms, you know that small businesses are the backbone of the economy. ©Betterment.

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Tax CPA Education payroll 52

Nancy McClelland, LLC

JANUARY 30, 2024

To say nothing of the fact that the next government shutdown deadline is scheduled for one week before business tax returns are due. Ths allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA. Enter Congress.

Tax 52

Tax tax return Illinois tax preparation 52

ThomsonReuters

JUNE 15, 2022

Tax rules are revised constantly , and changes aren’t always easy to interpret. Now more than ever, your tax and accounting staff require a robust system or framework that leverages technology so that they can keep up with regulatory developments in a timely manner. Current knowledge: the backbone of top client service.

Tax 98

Tax Technology audit tax preparation 98

Nancy McClelland, LLC

APRIL 5, 2024

Photo by coco tafoya on Unsplash As my readers and colleagues know, I’m a huge proponent of leveraging technology to remove the drudgery from our jobs and those of our small business clients. Honestly, I randomly stumbled on it when I went into my own Gusto account to run weekly payroll.) We all have enough on our plates already!

tax preparation 52

tax preparation Tax bookkeeping payroll 52

Nancy McClelland, LLC

JANUARY 15, 2023

As you might imagine, we get quite a few inquiries for tax preparation services, but a) we only do taxes for our small business accounting & bookkeeping clients, and b) we only work with clients in Illinois, Indiana and Wisconsin. It’s an arena rife with underrepresentation issues.).

tax preparation 52

tax preparation Tax bookkeeping Wisconsin 52

Nancy McClelland, LLC

AUGUST 15, 2022

My colleagues at the National Society of Accountants for Cooperatives are offering a 75-minute webinar on Tuesday, August 23 to discuss the requirements and pitfalls in claiming Employee Retention Credits (ERC). The cost is free to members and $56 to non-members.

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cpa firm bookkeeping CPA Education 19

Basis 365

APRIL 28, 2022

The tax side, which is closer to the accounting side, relates to selecting the appropriate business type that minimizes unintended tax liabilities. We have worked with a tax professional to outline some key considerations for what entity type you should be looking into. Sole Proprietorships 13.1%

income tax 52

income tax tax return tax planning Legal 52

Ryan Lazanis

APRIL 4, 2022

Do you want to know how to start a bookkeeping business or accounting firm in 2022? In fact, these are the very steps that I followed to help take my heavily bookkeeping-focused accounting business from scratch to sale in only 5 years. Without it, I would be steering a business without a rudder.

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