RogerRossmeisl

DECEMBER 10, 2022

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments. Tax rates on sales Individuals are subject to tax at a rate as high as 37% on short-term capital gains and ordinary income.

Tax 246

Tax income tax CPA Sales 246

Going Concern

DECEMBER 10, 2022

The PCAOB should be dropping the first batch of 2021 inspection reports soon, and as an appetizer before the main course, the audit cops issued a report Dec. 8 on how the 141 annually and triennially inspected firms did overall during the most recent inspection cycle, in which portions of 690 audits were reviewed. Annnnd it wasn ’t good: We observed an increase in the percentage of engagements reviewed with at least one “comment form” (the initial communication to audit firms of observed deficie

audit 111

audit auditor financial statements Maine 111

RogerRossmeisl

DECEMBER 10, 2022

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create or enhance a separate, distinct intangible asset, Create or enhance a “future benefit” identified in IRS guidance as capitalizable, or “Facilitate” the acquisition or creation of an intangible asset.

CPA 245

CPA Tax business tax 245

RogerRossmeisl

DECEMBER 10, 2022

The 30-year anniversary of Daubert v. Merrell Dow Pharmaceuticals Inc. (509 U.S. 579) will be coming up in 2023. This decision officially made federal judges the “gatekeepers” of expert evidence against “junk science.” Landmark case In 1993, Daubert established a two-pronged test for admissibility under Rule 702 of the Federal Rules of Evidence: An expert’s methodology must be 1) reliable, and 2) relevant.

Pharmaceutical 244

Pharmaceutical CPA 244

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RogerRossmeisl

DECEMBER 10, 2022

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business as a C corporation. A C corporation allows the business to be treated and taxed as a separate entity from you as the principal owner. A properly structured corporation can protect you from the debts of the business yet enable you to control both day-to-day operations and corporate acts such as redemptions, acq

corporation tax 237

corporation tax CPA Tax business tax 237

RogerRossmeisl

DECEMBER 10, 2022

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive a charitable donation write-off, you must itemize deductions on your tax return. What if you want to give gifts of investments to your favorite charities?

tax return 237

tax return CPA Tax Account 237

RogerRossmeisl

DECEMBER 10, 2022

Checkster, a reference checking company, has found that 78% of job candidates either misrepresent or consider misrepresenting themselves during the hiring process. And a survey by career advice company ResumeLab reveals that 56% of applicants either lied or “stretched the truth” in recent interviews. Findings of other studies vary, but the takeaway is generally consistent: Don’t assume résumé claims or interview answers are truthful.

CPA 221

CPA 221