RogerRossmeisl

FEBRUARY 26, 2023

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas.

California 246

California Tax tax return CPA 246

SkagitCountyTaxServices

AUGUST 19, 2022

Though that said, there does seem to be some easing on both of these fronts – and not necessarily because of the “Inflation Reduction Act” (more on that and business tax deductions in a minute). It can be difficult to see your way through it all and keep your business afloat. Business Tax Deductions: Meals and mileage.

business tax 82

business tax Tax Real Estate CPA 82

Summit CPA

MARCH 7, 2024

Anyone who registers for an IRS Preparer Tax Identification Number (usually abbreviated as PTIN) is authorized to prepare taxes for compensation. The requirements are minimal: In order to obtain a PTIN, the applicant must verify with the IRS that they are in compliance with their own taxes and pay a small yearly fee ($19.74

tax preparation 102

tax preparation CPA Tax Education 102

RogerRossmeisl

APRIL 24, 2024

The post IRS Begins Audits of Corporate Jet Usage appeared first on Roger Rossmeisl, CPA. The number of audits related to aircraft usage could increase in the future following initial.

audit 264

audit CPA Tax cpa firm 264

CPA Practice

JANUARY 18, 2024

Rather than creating generic ads like “Need Tax Help? Here are 10 suggestions for individual and business tax services. Say Goodbye to Tax Stress! Quick, Reliable, & Affordable Tax Services Unlock Bigger Savings on Your Taxes – Professional Help is Here! Give us a call.” Don’t Miss Out on Deductions!

CPA 111

CPA income tax quickbooks Tax 111

CPA Practice

MAY 9, 2024

Prompt : Write a 15-second video script [between two people looking for business tax services in their area]; use this reference [insert service webpage link]. Video Script Writing If you haven’t incorporated video into marketing initiatives, AI tools can help. Here’s how to craft a video script for one of your service lines.

cpa firm 72

cpa firm CPA payroll Technology 72

xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Business insurance .

business tax 97

business tax Tax Education tax preparation 97

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

CPA Practice

NOVEMBER 20, 2023

TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. By Melissa Angell, Inc.

tax accountant 124

tax accountant business tax Tax Account 124

SkagitCountyTaxServices

MARCH 17, 2022

So, even though we’re knee-deep in end-of-quarter matters and all of the various business tax work … I want to assure you that we are here for you as you face the effects of inflation in your business: 360-424-1040. And that’s what I want to talk about today… how is that business debt different from personal debt?

CPA 90

CPA Real Estate business tax Tax 90

inDinero Tax Tips

MAY 10, 2023

Tracking expenses and claiming all of the small business tax deductions you’re eligible for can add up to substantial savings, especially for start-ups that reinvest aggressively as they scale. Table of Contents What Is a Small Business Tax Deduction and How Does It Work? What small business tax deductions are there?

business tax 52

business tax Tax bookkeeping bookkeeping services 52

SkagitCountyTaxServices

MARCH 17, 2023

Getting into planning mode is going to require you actively carving out some time in your busy business owner schedule… whether you’re facing doing taxes on your own (not recommended) or meeting up with your favorite tax pro (wink, wink). Your deductions depend on the circumstance of your small business.)

tax planning 52

tax planning business tax Tax tax return 52

Ronika Khanna CPA,CA

DECEMBER 28, 2023

As we approach the new year, it will be time soon to start working on everyone’s favourite activity i.e. getting your tax stuff in order :). Below are the deadlines that all small businesses need to know for 2024. Download our free Canada unincorporated business tax deadline calendar for 2024 (both Federal and Quebec).

business tax 52

business tax Tax income tax tax return 52

SkagitCountyTaxServices

AUGUST 26, 2021

One thing you can expect from me come rain or shine is to keep you in the loop on changes to all things tax-related. There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. This week is no exception. ” – John W.

business tax 64

business tax Tax Entertainment Real Estate 64

RogerRossmeisl

JULY 14, 2021

A legitimate job If you hire your child, you get a business tax deduction for employee wage expenses. In turn, the deduction reduces your federal income tax bill, your self-employment tax bill (if applicable), and your state income tax bill (if applicable). However, in order for your.

Tax 246

Tax income tax payroll tax payroll 246

RogerRossmeisl

JANUARY 14, 2024

Unfortunately, this will impose burdensome reporting requirements on most businesses, and the willful failure. The post New Beneficial Ownership Reporting Requirements Effective 1/1/24 appeared first on Roger Rossmeisl, CPA.

CPA 262

CPA Start-ups Tax Government 262

SkagitCountyTaxServices

DECEMBER 8, 2021

But the calendar waits for no business, and time is getting short to plan your moves. Year-End Business Tax Strategy for Skagit County SMB Owners “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” – Winston Churchill.

business tax 52

business tax Tax tax preparation payroll tax 52

Ronika Khanna CPA,CA

JANUARY 27, 2023

I have compiled a list of the deadlines that all of you should know and also updated my annual business tax deadline calendar. Sign up to download our free Canada unincorporated business tax deadline calendar for 2023 or Quebec unincorporated small business tax deadline calendar 2023.

business tax 52

business tax Tax income tax tax return 52

CPA Practice

AUGUST 23, 2023

When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business.

Tax 98

Tax business tax North Carolina tax preparation 98

RogerRossmeisl

JANUARY 1, 2024

The post IRS Launches New Webpage with FAQs on ERTC Voluntary Disclosure Program appeared first on Roger Rossmeisl, CPA. FAQs: The FAQs provide detailed information on eligibility, the program process, calculating and.

CPA 261

CPA Tax cpa firm business tax 261

RogerRossmeisl

JANUARY 21, 2024

Business vs Non-Business Property Property Not Subject to Depreciation The credit amount for property not subject to depreciation is 30% of the cost of the qualified property placed in service during the.

CPA 258

CPA Tax cpa firm business tax 258

RogerRossmeisl

JANUARY 14, 2024

The post FinCEN Alerts BOI Reporting Companies to Fraud Attempts appeared first on Roger Rossmeisl, CPA. Be advised that e-mails or letters such as this are fraudulent, according to the alert. FinCEN cautions individuals that it does not send unsolicited.

CPA 258

CPA cpa firm business tax Tax 258

RogerRossmeisl

OCTOBER 29, 2023

If it’s a business bad debt, it’s deductible against ordinary income. A business bad debt. The post Tax Implications of Guaranteeing a Loan to Your Corporation appeared first on Roger Rossmeisl, CPA.

Tax 264

Tax CPA cpa firm business tax 264

RogerRossmeisl

JANUARY 1, 2024

The post IRS Continues Dissuading Questionable ERTC Claims appeared first on Roger Rossmeisl, CPA. The IRS mailing is the latest in an expanded compliance effort that includes a special withdrawal program for those with pending claims who.

CPA 258

CPA Tax cpa firm business tax 258

RogerRossmeisl

OCTOBER 30, 2023

The post Update on Depreciating Business Assets appeared first on Roger Rossmeisl, CPA. . §179 deductions can also be claimed for real estate qualified improvement property (QIP), up to the maximum allowance.

Real Estate 264

Real Estate CPA Tax cpa firm 264

RogerRossmeisl

MAY 16, 2024

The post Growing Your Business With a New Partner: Here Are Some Tax Considerations appeared first on Roger Rossmeisl, CPA. Here are two issues to consider: If there’s a change in the partners’.

Tax 130

Tax Legal CPA business tax 130

RogerRossmeisl

SEPTEMBER 25, 2022

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. For example, you could pull income into 2022 to be taxed at lower rates, and defer deductible expenses until 2023, when they can be claimed to offset higher-taxed income.

tax planning 211

tax planning Tax business tax CPA 211

RogerRossmeisl

MAY 17, 2024

Form BOE-571-STR can be found here: www.boe.ca.gov/proptaxes/pdf/sample-boe571str.pdf When a property owner rents out all or part of their property, such as a residential unit, they are required to pay business property tax on the items used for the rental, The post California Short-Term Rentals Now Require a Business Personal Property Filing appeared (..)

California 130

California CPA Tax business tax 130

RogerRossmeisl

MAY 16, 2024

net investment income tax on all or part of their. The post The Tax Advantages of Including Debt in a C Corporation Capital Structure appeared first on Roger Rossmeisl, CPA. On top of this, higher-income individuals may also owe the 3.8%

Tax 130

Tax income tax CPA business tax 130

RogerRossmeisl

SEPTEMBER 4, 2023

The post Cash Payments Over $10,000 Must Be Reported Online Beginning 1/1/2024 appeared first on Roger Rossmeisl, CPA. The government can often trace money from these illegal activities through payments reported on Forms 8300 that are timely filed, complete and accurate. The new requirement for.

CPA 278

CPA Government Tax Finance 278

RogerRossmeisl

NOVEMBER 20, 2023

The post IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims appeared first on Roger Rossmeisl, CPA. Employers that submitted an ERTC claim that’s still being processed can withdraw their claim and avoid the possibility of getting a refund for which they’re ineligible. The IRS created the.

Tax 262

Tax CPA cpa firm business tax 262

RogerRossmeisl

SEPTEMBER 18, 2023

The post Receive More than $10,000 in Cash at your Business? Here’s What You Must Do appeared first on Roger Rossmeisl, CPA. Transactions can also be considered related even if they occur over a period of more than 24 hours if the recipient knows, or has reason to know, that each transaction is one of.

tax return 264

tax return CPA Tax cpa firm 264

RogerRossmeisl

SEPTEMBER 18, 2023

Basic distribution rules If a retirement plan participant withdraws money from an employer plan before reaching age 59½, a 10% additional tax or penalty generally applies unless an exception exists. This is on top of the ordinary tax that may be. appeared first on Roger Rossmeisl, CPA.

CPA 264

CPA Tax Government Account 264

RogerRossmeisl

MARCH 18, 2024

Because of the resulting lower salary expense, this results in a higher tax burden for taxpayers with sizable ERTC refunds. The post Employee Retention Tax Credit Penalty Relief appeared first on Roger Rossmeisl, CPA. Reasonable Cause Penalty Relief To the extent an ERTC.

Tax 200

Tax income tax tax return CPA 200

RogerRossmeisl

OCTOBER 29, 2023

When an asset falls under this tax-free transfer rule, the spouse who receives the asset takes over its existing tax basis (for tax gain or loss purposes) and its existing holding period (for short-term or long-term holding period purposes). For example, let’s say.

Tax 261

Tax CPA cpa firm business tax 261

RogerRossmeisl

FEBRUARY 18, 2024

The post Should Your Business Offer the New Emergency Savings Accounts to Employees? appeared first on Roger Rossmeisl, CPA. For 2024, a participant who earned $150,000 or more in 2023 is a highly compensated employee. Here are some more.

Account 203

Account accountant accounted CPA 203

Snyder

FEBRUARY 7, 2023

In this article, you’ll learn what tax deductions are, which expenses are deductible, and how to minimize the risks of the IRS tax audit. What exactly are tax deductions? How to claim small business tax deductions 2. 12 tax deductions that apply to small businesses 3. What is a 100% tax deduction?

Tax 98

Tax business tax Real Estate Legal 98