RogerRossmeisl
FEBRUARY 18, 2024
Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was enacted at the end of 2022, brought even more changes that made IRAs more advantageous for many taxpayers. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview of the basic rules and some of the recent changes.
Ace Cloud Hosting
FEBRUARY 18, 2024
Ever feel like tax prep is a juggling act? We get it. From struggling with accessibility to worrying about data security, the challenges can feel endless. But guess what? There’s.
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RogerRossmeisl
FEBRUARY 18, 2024
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Here are nine considerations: 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you’re currently eligible to claim the 20% pass-through deduction, subject to limitations.
Insightful Accountant
FEBRUARY 18, 2024
As a part of the Financial planning features available to QuickBooks Online Advanced users, a new 'Forecasts' functionality has been released. Presently it is available to all U.S. QBO-Advanced subscribers.
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The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
RogerRossmeisl
FEBRUARY 18, 2024
As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and the provision authorizing it became effective for plan years beginning January 1, 2024. The IRS recently released guidance about the accounts (in Notice 2024-22) and the U.S. Department of Labor (DOL) published some frequently asked questions to help employers, plan sponsors, participants and others understand them.
Ace Cloud Hosting
FEBRUARY 18, 2024
As the calendar flips to a new tax season, tax professionals are looking forward to streamlining their tax preparation processes. The right tax planning software makes all the difference in.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Insightful Accountant
FEBRUARY 18, 2024
Xero and Mazars have announced a three-year global deal, bringing clients enriched data and insights.
RogerRossmeisl
FEBRUARY 18, 2024
You may already be familiar with artificial intelligence (AI) and even use it in business applications. What about generative AI (Gen AI)? Gen AI typically is used to create new content (such as text, images, code and video) from raw data and includes such popular systems as Grok, ChatGPT and DALL-E. Gen AI can also help reduce, uncover and combat fraud.
CPA Practice
FEBRUARY 18, 2024
The executive board of the Committee of Sponsoring Organizations of the Treadway Commission ( COSO ) has named chair Lucia M. Wind as COSO’s first-ever full-time chair and executive director, effective December 1, 2023. Since its inception, COSO has provided thought leadership and guidance for organizations in areas of internal control, enterprise risk management, fraud deterrence, and governance.
RogerRossmeisl
FEBRUARY 18, 2024
When the parties know what to expect at each phase of a business valuation project, it makes the process easier for everyone. This awareness promotes collaboration and timeliness, as well as minimizes potential surprises, misunderstandings and rework. Here’s the five-step process that’s used when valuing a business or interest in a business. Engaging a valuation expert The first step is retaining a business valuation professional and agreeing on the price, deliverables and scope of the assignmen
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
RogerRossmeisl
FEBRUARY 18, 2024
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain employees. Even though the ERTC expired for most employers at the end of the third quarter of 2021, it could still be claimed on amended returns after that. According to the IRS, it began receiving a deluge of “questionable” ERTC claims as some unscrupulous promotors asserted that large tax refunds could easily
RogerRossmeisl
FEBRUARY 18, 2024
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive such a letter, can you still claim a deduction for the gift on your 2023 income tax return? It depends. What the law requires To prove a charitable donation for which you claim a tax deduction, you must comply with IRS substantiation requirements.
RogerRossmeisl
FEBRUARY 18, 2024
There’s generally a trade-off between risk and return in business valuation. Investors expect to receive a higher return as a company exposes them to greater risk. Industry-specific risk is an important consideration when estimating an investor’s expected return. Here’s how valuators measure industry risk and factor it into their analyses. Key factors Virtually every business valuation report includes a section on industry risk.
RogerRossmeisl
FEBRUARY 18, 2024
The restaurant business is notoriously tough — even without the many fraud threats. The fact is, when you’re operating on very thin profit margins, you can’t afford to lose a cent to thieves. To protect your business from ill-intentioned employees, customers and vendors, take steps to fortify your restaurant against fraud. Gaps for exploitation Your restaurant may have high transaction volumes but lack the technology linking point-of-sale, inventory and accounting systems.
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You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
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