DentalAccounting

APRIL 1, 2020

The Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to businesses. The Act is the third bill from Congress in response to the COVID-19 pandemic.

CPA 100

CPA payroll tax cpa accounting cpa firm 100

RogerRossmeisl

SEPTEMBER 18, 2023

This will be done through what the law calls “pension-linked emergency savings accounts.” permits a plan sponsor to amend its 401(k), 403(b) or government 457(b) plan to offer emergency savings accounts that are connected to the plan. Effective for plan years beginning January 1, 2024, SECURE 2.0

CPA 264

CPA Tax Government Account 264

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

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

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

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 243

Tax CPA Account accountant 243

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.

audit 246

audit auditor CPA Tax 246

Nancy McClelland, LLC

APRIL 5, 2024

to include loads of information that most CPA firms are simply not going to have access to — not only current tax-year payroll information, but prior-year data on a per-employee basis; as well as information on how many employees qualified to participate (whether or not they actually participated), again both in 2022 and in 2023.

tax preparation 52

tax preparation Tax bookkeeping payroll 52

Shay CPA

JANUARY 10, 2024

Plus, we have a special offer live just for Shay CPA firms. Disclosure: 529 accounts and their plans are held and managed by program administrators and managers outside of Betterment. Find out more today. 529s are only available as part of a bundled offering with a Betterment 401(k).

Tax 52

Tax CPA Education payroll 52

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.

payroll tax 190

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.

CPA 130

CPA audit Sales Account 130

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

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.

cpa firm 19

cpa firm bookkeeping CPA Education 19

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

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.

bookkeeping 98

bookkeeping bookkeeping services accounting firms Technology 98

CPA Practice

AUGUST 3, 2023

There are 50 to 60 common strategies that can help reduce a taxpayer’s overall tax rate, and decisions about their usage are generally left in the hands of the owner’s CPA firm. But accounting firms tend to be very compliance-oriented and also highly risk-averse. Most also have some level of IRS compliance risk.

Tax 97

Tax audit CPA Legal 97

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 98

public accounting audit Account accountant 98