Mon.Feb 21, 2022

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Don’t Discount the Key Person Discount

RogerRossmeisl

In the fourth quarter of 2021, CEO resignations were up 16% over the prior year, according to executive outplacement firm Challenger, Gray & Christmas. Recent and announced high profile departures include Twitter’s Jack Dorsey, Amazon’s Jeff Bezos and American Airlines’ Doug Parker. This trend is expected to continue into 2022 as executives swap high-stress positions for more family time.

CPA 245
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Owe Taxes? You May Lose Your Passport!

Withum

Federal Courts continue to reject constitutional challenges under the 5th Amendment to Section 7345, passed as part of the “Fixing America’s Surface Transportation Act” in 2015. The law gives the U.S. government the authority to revoke U.S. passports or reject passport applications for individuals who have delinquent tax debts in excess of $52,000, provided such debts have been certified by the Internal Revenue Service.

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Tax Aspects of Operating Your Business as a Sole Proprietor

RogerRossmeisl

If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are eight important issues to consider: 1. You report income and expenses on Schedule C of Form 1040. The net income is taxable to you regardless of whether you withdraw cash from the business.

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Fatburger and Johnny Rockets Family Under Investigation for Fraud and Money Laundering

FraudFiles

Andrew Wiederhorn, CEO of the company that owns Fatburger, Johnny Rockets, and Round Table Pizza restaurants is under federal investigation for securities fraud, wire fraud, money laundering, and tax evasion. What makes this story so interesting is that Wiederhorn already did a stint in prison , serving 14 months in 2005 and 2006 for filing a false tax return and paying Jeffrey Grayson an illegal gratuity while he worked at Wilshire Credit.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Make Sure You Have Substantiation For Your Charitable Donations

RogerRossmeisl

If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? It depends. The requirements To prove a charitable donation for which you claim a tax deduction, you need to comply with IRS substantiation requirements.

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On-Demand Webinar: Winning the War for Talent in 2022

Withum

Strategies for Attracting Top Laterals and Re-Attracting Existing Talent. With client demand for services high and attrition rates troublesome, law firm leaders are actively pursuing growth strategies through hiring lateral groups and individuals. Lateral growth is a costly endeavor. What do leading law firms do to execute effective acquisition and hiring strategies, retain existing talent and mitigate risk?

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Withum’s Olga Blyweiss Featured on NBC 10 Philadelphia’s NBC10 Responds

Withum

Withum is proud to share that Olga Blyweiss , CPA, MST and Withum partner, was recently featured as an expert on NBC 10 Philadelphia’s segment, NBC10 Responds. On February 1st, Olga was featured in a segment titled Tax Filing Tips for What to Looks for on IRS Letters 6419, 6475. The piece gave helpful information for people who were impacted by the Child Tax Credit and the Third Economic Impact Payment and how they can receive their tax returns as quickly as possible.

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Strategic direction - why you need it to achieve growth

Wellers Accounting

Ercan Demiralay FCCA explains the shift in mindset required by founders when progressing a business into growth.