RitaKeller

JANUARY 19, 2022

“And in the end, it’s not the years in your life that count. It’s the life in your years.” ~Abraham Lincoln. If you are leading a CPA firm or an employee of a CPA firm. Read the above quote again and maybe, again. One of the biggest challenges is the fact that so many CPA firms ask their people to basically put life on hold for three and one-half months each year.

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cpa firm tax return CPA Tax 45

Bharmal&Associates

JANUARY 19, 2022

When you own rental property, depreciation is your best friend. One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, you get to claim depreciation year after year without having to pay anything beyond your original investment in the property. Moreover, rental real property owners are entitled to depreciation even if their property goes up in value over time (as it usually does).

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Real Estate cpas Tax 264

RogerRossmeisl

JANUARY 19, 2022

Prevention is the heart of any fraud mitigation program. But sometimes even solid internal controls fail (because, for example, a manager overrides controls) and occupational fraud occurs. If you suspect an employee of stealing, you’ll want to do everything you can to ensure the perpetrator is caught. In most cases, you should hand a fraud investigation over to your attorney and a forensic accounting expert.

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forensic accounting CPA Account accountant 246

Withum

JANUARY 19, 2022

New Jersey business owners may want to reconsider passing on the NJ BAIT election due to recent legislative change. Governor Murphy signed into law a bipartisan bill (S4068) that enhances the state’s electable pass-through entity (PTE) tax, known as the New Jersey Business Alternative Income Tax (BAIT) on January 18, 2022. The newly enacted legislation remedies a number of implementation issues with the originally enacted BAIT statute that prevented many business owners from making the election.

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income tax New Jersey Tax Real Estate 75

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RogerRossmeisl

JANUARY 19, 2022

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until much closer to the April deadline (or you file for an extension until October), consider filing earlier this year. Why? You can potentially protect yourself from tax identity theft — and there may be other benefits, too.

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tax return Tax income tax CPA 241

GrowthForceBlog

JANUARY 19, 2022

7 min read. When you become a business owner or CEO, your business depends on your own ability to be productive. And we all know, this is easier said than done!

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KROST

JANUARY 19, 2022

Los Angeles, January 19, 2022 – KROST CPAs and Consultants reported a record year of M&A advisory work in 2021 and expects to remain equally busy in 2022. “We were involved in 21 buy-side and sell-side transactions in 2021”, said Paren Knadjian, Head of M&A and Capital Markets at KROST, “most of the time as the exclusive financial advisor.

Entertainment 52

Entertainment cpas tax accountant Healthcare 52

Withum

JANUARY 19, 2022

Governor Murphy signed into law a bipartisan bill (S4068) that enhances the state’s electable pass-through entity (PTE) tax, known as the New Jersey Business Alternative Income Tax (BAIT) on January 18, 2022. As we have previously discussed on PTE taxes , a PTE tax allows for business owners to sidestep the limitation on the amount of state and local tax (“SALT”) that individuals may deduct for federal income tax in order to mitigate the impact of the TCJA SALT limitation.

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New Jersey income tax Tax tax services 52

SkagitCountyTaxServices

JANUARY 19, 2022

Your car dashboard tells you how far you’ve driven and how much gas is left in the tank. Your smartphone has a button to tell you how much space you’ve got left after taking all those pictures of the kids. Your bank’s all too happy to show you a report on how your accounts are doing. You need the same kind of statistical insights for your Skagit County small business.

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Non-Profits CPA Start-ups Sales 52

RogerRossmeisl

JANUARY 19, 2022

Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at $147,000 (up from $142,800 in 2021). Deductions Standard business mileage rate, per mile: 58.5 cents (up from 56 cents in 2021) Section 179 expensing: Limit: $1.08 million (up from $1.05

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Tax CPA business tax 246

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