RogerRossmeisl

MAY 4, 2025

Fraud schemes are always evolving. Once frauds are widely publicized and consumers and businesses learn to spot common scams, enterprising criminals change their tactics. So even if you were able to recognize the red flags of fraud a couple of years ago, you may be vulnerable to new or tweaked scams in 2025. For the health of your business, its essential to stay on top of fraud developments.

CPA 147

CPA 147

CPA Practice

MAY 4, 2025

Global pensions assets rose by 4.9% year on year in 2024, reaching a record $58.5 trillion, led by growth in the largest defined contribution (DC) markets, according to the latest Global Pension Assets Study from WTWs Thinking Ahead Institute.

payroll 58

payroll 58

RogerRossmeisl

MAY 4, 2025

With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra money, why not put them on the payroll? This move can help you save on family income and payroll taxes, making it a win-win situation for everyone! Here are three tax benefits. You can transfer business earnings Turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for service

Tax 147

Tax payroll tax payroll CPA 147

RogerRossmeisl

MAY 4, 2025

Suppose youre thinking about setting up a retirement plan for yourself and your employees. However, youre concerned about the financial commitment and administrative burdens involved. There are a couple of options to consider. Lets take a look at a Simplified Employee Pension (SEP) and a Savings Incentive Match Plan for Employees (SIMPLE). SEPs offer easy implementation.

CPA 130

CPA business tax Tax 130

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Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

Account

RogerRossmeisl

MAY 4, 2025

Your business can set up an educational assistance plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federal-payroll-tax-free benefits. These tax-favored plans are called 127 plans after the tax code section that allows them. Plan basics 127 plans can cover the cost of almost anything that constitutes education, including graduate coursework.

Education 130

Education payroll tax income tax payroll 130

RogerRossmeisl

MAY 4, 2025

Stock, mutual fund and ETF prices have bounced around lately. If you make what turns out to be an ill-fated investment in a taxable brokerage firm account, the good news is that you may be able to harvest a tax-saving capital loss by selling the loser security. However, for federal income tax purposes, the wash sale rule could disallow your hoped-for tax loss.

Sales 130

Sales income tax CPA Tax 130

RogerRossmeisl

MAY 4, 2025

Once your 2024 tax return is in the hands of the IRS, you may be tempted to clear out file cabinets and delete digital folders. But before reaching for the shredder or delete button, remember that some paperwork still has two important purposes: Protecting you if the IRS comes calling for an audit, and Helping you prove the tax basis of assets youll sell in the future.

Tax 130

Tax tax return audit CPA 130

RogerRossmeisl

MAY 4, 2025

Annual fraud risk assessments can be very effective in finding obvious fraud threats and documenting internal controls that are in place to minimize them. However, these assessments can overlook evolving and behavioral risks that could cause significant financial losses if bad actors exploit them. You can help boost the power of your risk-reduction program by actively looking for potential blind spots.

CPA 130

CPA 130

RogerRossmeisl

MAY 4, 2025

Whether your company is a family-run operation, a partnership among friends or a multi-owner enterprise, a buy-sell agreement helps protect it in potentially disruptive what if scenarios, including death, disability, divorce, disputes or simply a change of heart. These events may trigger ownership transitions that, without proper planning, lead to costly conflicts and financial strain.

Legal 130

Legal CPA 130

RogerRossmeisl

MAY 4, 2025

If you inherit assets after a loved one passes away, they often arrive with a valuable but frequently misunderstood tax benefit called the step-up in basis. Below is an overview of how the rule works and what planning might need to be done. What basis means First, lets look at a couple definitions. Basis is generally what the owner paid for an asset, adjusted for improvements, depreciation, return of capital, etc.

Real Estate 130

Real Estate CPA Tax Sales 130

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