RogerRossmeisl

DECEMBER 12, 2020

Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). Or perhaps you already have an HSA. It’s a good time to review how these accounts work since the IRS recently announced the relevant inflation-adjusted amounts for 2021.

Account 246

Account accountant accounted CPA 246

PYMNTS

DECEMBER 12, 2020

The holiday season is known for many things. Twinkling lights, cheerful songs, gift-giving, cookie-eating – and, of course, shopping. But apart from being one of the most commerce-enthused times of the year, the holiday season also has the distinction of being the most generous – and we don’t just mean to friends, family members and the others who make our annual Christmas shopping lists.

New York 86

New York Texas Washington Michigan 86

RogerRossmeisl

DECEMBER 12, 2020

According to data company Dun & Bradstreet, business identity theft increased more than 250% in the first half of 2020. You can thank the pandemic — and the government’s release of relief and recovery funds to qualified U.S. businesses — for this remarkable number. In a more typical year, crooks use stolen business identities to file fraudulent tax returns, apply for credit and empty bank accounts.

tax return 242

tax return CPA Tax Account 242

RogerRossmeisl

DECEMBER 12, 2020

Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax cost. The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the extent of your corporation’s “earnings and profits.” And it’s not deductible by the corporation.

CPA 235

CPA Tax cpa firm business tax 235

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

Account

RogerRossmeisl

DECEMBER 12, 2020

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax benefit from such losses. Conversely, as an S corporation shareholder, you can deduct your percentage share of these losses on your personal tax return to the extent of your basis in the stock and any loans you personally make to the entity.

tax return 182

tax return CPA Tax cpa firm 182

RogerRossmeisl

DECEMBER 12, 2020

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these tax-deferred retirement vehicles. There are three areas where knowing the fine points of the IRA distribution rules can make a big difference in how much you and your family will keep after taxes.

Education 147

Education CPA Tax 147