RogerRossmeisl

OCTOBER 29, 2023

If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of your benefits package, and the coverage is higher than $50,000, there may be undesirable income tax implications. You’re taxed on income you didn’t receive The first $50,000 of group term life insurance coverage that your employer provides is excluded from taxable income and doesn’t add anything to your income tax bill.

Tax 278

Tax income tax CPA 278

Insightful Accountant

OCTOBER 29, 2023

Breadnbeyond's Andre Oentoro's breaks down the internal communication tools that can help you and your accounting team stay on top of things without burning yourself out.

Account 111

Account accountant accounted 111

RogerRossmeisl

OCTOBER 29, 2023

Intangible assets — such as patents, copyrights, trademarks and customer lists — can have substantial value. But, unless they’re purchased from a third-party, you might not know what they’re currently worth. For example, if a business cultivates a well-known brand over several years using internal resources, it won’t appear on its balance sheet. Owners of intangibles need to know the value of these assets in various situations.

accounting principles 264

accounting principles CPA Account accountant 264

Insightful Accountant

OCTOBER 29, 2023

QuickBooks Online Accountant users now can standardize their clients' Chart-of-Accounts easier with a new COA Template feature. Consider this your Halloween treat.

Account 105

Account accounted accountant quickbooks 105

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

accountant

RogerRossmeisl

OCTOBER 29, 2023

Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax implications. If your corporation defaults on the loan and you’re required to pay principal or interest under the guarantee agreement, you don’t want to be caught unaware.

Tax 264

Tax CPA cpa firm business tax 264

RogerRossmeisl

OCTOBER 29, 2023

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher increases. The median home price was $467,500 in the Northeast, $304,600 in the Midwest, $366,200 in the South and $610,500 in the West.

Tax 264

Tax income tax CPA Sales 264

RogerRossmeisl

OCTOBER 29, 2023

When criminals profit from illicit activities, they usually need to “clean” or disguise the proceeds of their crimes. Money laundering disconnects illegally acquired funds from sources that include theft, drug trafficking and terrorism. This makes it harder for law enforcement to connect the dots, arrest the perpetrators and seize their money. Unfortunately, money launderers often use innocent small businesses to clean their dirty money.

CPA 246

CPA Account accountant accounted 246

RogerRossmeisl

OCTOBER 29, 2023

Reasonable compensation is an issue that comes into play in divorce, shareholder disputes and tax cases. It’s also a common financial statement adjustment that valuators make when valuing a business. Although experts are often hired to make the calculations, business owners and attorneys should understand how they do it. Multiple factors Valuators weigh a variety of factors when determining reasonable compensation for a specific business owner or executive, including: Role in the business.

financial statements 232

financial statements CPA Sales Tax 232