RogerRossmeisl
DECEMBER 15, 2024
Understanding which travel expenses are tax deductible can significantly affect your bottom line. Properly managing travel costs can help ensure compliance and maximize your tax savings. Your tax home Eligible taxpayers can deduct the ordinary and necessary expenses of business travel when away from their tax homes.
RogerRossmeisl
JANUARY 21, 2025
Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they have tax implications. It refers to travel when you arent away from your tax home long enough to require sleep or rest.
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RogerRossmeisl
DECEMBER 29, 2024
Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. A larger standard deduction will shelter more income from federal income tax next year. The highest tax rate. Here are the highlights.
RogerRossmeisl
MARCH 3, 2025
tax code may help ease the financial burden. Below is an overview of some of the most beneficial tax breaks and planning options for funding your childs or grandchilds education. Theyre treated as taxable gifts to the child, but theyre eligible for the annual gift tax exclusion ($19,000 in 2025). If you contribute more than the.
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Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources. "Offer payroll and do it yourself,” they said.
RogerRossmeisl
DECEMBER 29, 2024
These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD basics QCDs can be made from your traditional IRA(s) free of federal income tax. Thats OK because the tax-free treatment of QCDs equates to a 100% deduction. Unlike regular charitable donations, you cant claim itemized deductions for QCDs.
RogerRossmeisl
OCTOBER 27, 2024
As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show generosity to loved ones is by giving cash gifts before December 31. The exclusion amount is adjusted for inflation annually, and in 2024 is $18,000.
Speaker: Rita Keller - President of Keller Advisors, LLC
You've worked diligently and have built a glowing reputation grounded in your excellent skills in tax, accounting, and auditing. You're known as the “go-to” person when a client is faced with tax and financial decisions. You have a very successful firm -- but that’s not enough. For some, the transition will be easy.
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. 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.
Speaker: Tom Bowman, CPA of Bowman & Company
It is possible to run an Accounting Firm and never do tax returns or financial statements! Tom Bowman, Owner of Bowman & Company, CPA, PC shares his journey and 10 step process for going from Technician to Business Owner. Our CEUs count toward the Certified Public Accountant (CPA) program.
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