RogerRossmeisl

MARCH 25, 2021

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. Here are some tax rules and considerations involved in operating with that entity. The pass-through deduction To the extent your business generates qualified business income (QBI), you’re eligible to claim the pass-through or QBI deduction, subject to limitations.

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Tax tax return CPA Start-ups 245

TaxConnex

MARCH 25, 2021

A contractor is generally defined as someone who provides improvements to real property on a lump sum contract basis. From a sales and use tax perspective, there isn’t much of a difference between a subcontractor and a prime or general contractor. At first glance, the sales and use tax requirements for a contractor seem quite simple. Contractors are typically considered the end-user/consumer of all tangible personal property purchased and used by them in conjunction with the performance of a con

Construction 168

Construction Tax Sales 168

GrowthForceBlog

MARCH 24, 2021

10 min read. Fundraising is already tough. Fundraising during economic uncertainty? Even tougher.

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Account accountant accounted 96

BuildYourFirm

MARCH 24, 2021

Why Accountants should Fully Optimize their Google My Business Listing. Every accountant can use some additional visibility to drive new business, and your Google My Business listing is the perfect place to start optimizing your local internet presence. Also known as your Business Profile, this highly-authoritative business listing is the internet gateway to your accounting firm, highlighting your services, staff, reviews, and NAP (name, address, phone) information.

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Account accountant accounted cpas 224

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RogerRossmeisl

MARCH 22, 2021

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are also several tax breaks and financial benefits for businesses. Here are some of the business tax highlights of ARPA. The Employee Retention Credit (ERC) This valuable tax credit is extended from June 30 until December 31, 2021.

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business tax CPA Tax Account 246

TaxConnex

MARCH 23, 2021

Companies that sell digital products in the U.S. should know about a relatively new kind of ta x – and tax obligation. Maryland has a n ew tax on digital advertising and has extended the state ’ s existing sales and use tax to the sale of such digital goods as digital code, streaming, music, ring tones, e-books and audio books, movies, online newspapers and cable, satellite and pay-per-view television programming.

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West Virginia Tax Maryland Montana 228

5 Minute Bookkeeping

MARCH 25, 2021

When you’ve got a problem in QuickBooks Online, the ‘easy fix’ is making a journal entry…right? As an accounting professional, you may have been trained to use journal entries liberally (I know I was), but in QBO there are some situations where journal entries help, and some where they can really mess up the books ! The key is knowing which is which and what goes on inside QBO when you create journal entries to make corrections.

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quickbooks accounts payable bookkeeping payroll 98

RogerRossmeisl

MARCH 25, 2021

If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. The SECURE Act, which was signed into law in late 2019, made a number of changes of interest to those nearing retirement.

CPA 246

CPA Account accountant accounted 246

ThomsonReuters

MARCH 26, 2021

Now that tax season is in full swing for many practitioners, you may find yourself questioning if this is the right time to break off and explore starting your own CPA firm. In this next chapter of Small Talk with Heather Walker , I am once again joined by Linda Forde, CPA and owner of The Forde Firm, and Nina Tross, Executive Director of the National Society of Tax Professionals (NSTP).

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cpa firm CPA Non-Profits Start-ups 98

CapataCPA

MARCH 24, 2021

Update- California PPP Tax Conformity Although it is no secret that California has yet to release information on whether or not it will partially conform state tax code to the current federal tax rules regarding forgiven Paycheck Protection Program (PPP) loans, CalCPA has shared why the delay is taking place. California’s governor and legislation were ready to legislatively conform to federal PPP.

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California Tax cpa firm CPA 98

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

AccountingDepartment

MARCH 26, 2021

During a recent Vistage Executive Summit, a few points stood out to us when it came to positioning your business to stay ahead of the curve in 2021, and years to come. Alex Chausovsky of ITR Economics gave us the breakdown of some of these important points below.

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Account accountant accounted 94

RogerRossmeisl

MARCH 24, 2021

Fraud perpetrators are constantly altering their methods to evade detection. Nimble cybercriminals, for example, are why IT security companies update their software so frequently. The use of deepfakes (a word derived from “deep learning” and “fake”) is one of the latest threats to emerge. Deepfakes are enabled by artificial intelligence (AI) and they’re something your company needs to have on its radar because if you haven’t seen a deepfake yet, you will.

CPA 209

CPA 209

Withum

MARCH 22, 2021

I organized many of my Non Business blogs into a file that I could send you.should you want it. These have been posted since February 2012 and cover the following topics with the number of blogs in that section.

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85

GrowthForceBlog

MARCH 20, 2021

5 min read. As your business grows, you inevitably have more fires to put out, issues to deal with. One of the worst is when you have cash flow or other financial problems. There’s a few reasons why that happens, but one thing we see so very often is the unfortunate effect of having an inefficient back office.

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bookkeeping Account accountant accounted 77

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

AccountingDepartment

MARCH 23, 2021

If you own or manage a business, you have to decide whether it is better to outsource your accounting projects or handle them in-house. Though handling accounting projects in-house with your own employees certainly has its benefits, there are more advantages to outsourcing the work to a group of accounting specialists. Chief amongst the reasons to outsource is the team approach implemented by an entire group of professional accounting specialists.

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Account accountant accounted bookkeeping services 69

RogerRossmeisl

MARCH 23, 2021

The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic. Among the many initiatives are direct payments that will be made to eligible individuals. And parents under certain income thresholds will also receive additional payments in the coming months through a greatly revised Child Tax Credit.

CPA 133

CPA Tax 133

Withum

MARCH 24, 2021

This is taken from the introduction to the file with reprints of 168 of my non-business blogs.

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GrowthForceBlog

MARCH 26, 2021

8 min read. “ Who are my most profitable clients? “Am I pricing my jobs right? ” “ Why am I losing money on some jobs?”. Sound familiar? If you don’t know the answer to those questions, it’s important you take time to really understand job costing.

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71

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Technology

AccountingDepartment

MARCH 25, 2021

QuickBooks isn’t the latest and greatest accounting software yet it is certainly useful. Countless businesses use QuickBooks at their offices, meaning job-seekers and those looking to advance their career should have in-depth knowledge of this important computing tool. Take full advantage of QuickBooks and you will find it helps your business in several important ways.

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quickbooks accounting software Account accountant 60

inDinero Tax Tips

MARCH 26, 2021

April 15, Tax Day in the U.S., is just around the bend. So, I thought you might need a reminder about how The Coronavirus Aid, Relief, and Economic Security (CARES) Act changed the charitable deduction rules. Don’t worry! You’ll probably like these changes. Changes for 2020 charitable deduction rules that won’t last forever. The CARES Act changed charitable deductions in 2020, anticipating a decline in revenues for philanthropic organizations.

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Healthcare Tax Legal financial accounting 52

LyfeAccounting

MARCH 25, 2021

As an accounting firm, we get asked all the time. “What should my business entity be? I heard that I should have an LLC.” Well, the truth is, sometimes you need an LLC, and guys, sometimes you don’t. So in this post, we want to set the record straight, eliminate the confusion, and breakdown who needs an LLC and who doesn’t. Let’s get into it!

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Legal Tax accounting and finance accounting firms 52

xendoo

MARCH 26, 2021

Bookkeepers and bookkeeping services can be a small business owner’s best investment. Bookkeepers save small businesses money by keeping their books in order and providing accurate financial reports – giving the small business owner more time to do what they do best. . Bookkeepers handle a wide range of duties, including recording financial transactions, maintaining accurate records, and balancing the books of a business.

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bookkeeping software bookkeeping NetSuite quickbooks 52

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Technology

AccountingDepartment

MARCH 20, 2021

A notable takeaway from the Vistage Executive Summit in Boise, ID comes from guest speaker Joe Galvin, Chief Research Officer of Vistage Worldwide, Inc. Joe discussed how technology is one of the top areas CEOs will look towards for investments throughout 2021. The TOP Strategy provides some guidance to how these investments will be made.

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Technology Account accountant accounted 52

CTP

MARCH 25, 2021

Roth IRAs are owned by 19 percent of all U.S. households. If you are younger than age 50, you can contribute a maximum of $6,000 per year. If you are age 50 or older, you can contribute up to $7,000 per year. Advantages of a Roth IRA: No required minimum distributions Tax-free withdrawals Can contribute […]. The post Tax Free Growth with a Roth IRA appeared first on certifiedtaxcoach.

Tax 52

Tax 52

ThomsonReuters

MARCH 25, 2021

QUESTION: Our company has 60 employees, all of whom are eligible for our fully insured medical plan and our health FSA. This year, 40 employees have enrolled in our medical plan and health FSA. Does our health FSA, which we administer in-house, qualify for the exclusion from the HIPAA privacy and security rules for self-administered health plans with fewer than 50 participants?

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Tax Account accountant accounted 52

xendoo

MARCH 26, 2021

With Xendoo’s bookkeeping services you can easily find the plan you need and work with our expert financial team to gain insight and make smart business decisions. Xendoo doesn’t use its own proprietary software, but instead, we partner with Quickbooks Online and Xero, so your books are yours throughout any changes and transitions. Your books are up to date with your dedicated financial team, financial insight is at your fingertips, and you are always tax-ready.

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bookkeeping bookkeeping services quickbooks tax consultant 52

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LSLCPAs

MARCH 23, 2021

The “P” in CPA Should Stand for Proactive. What about the “C” and the “A”? Introduction Let’s start back a step. Do you even need a CPA, a Certified Public Accountant? Certified means that the person has completed a field of study that makes them specialists in their area. They […]. The post What to Expect Your CPA to Do for You & Your Business appeared first on LSL CPAs.

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CPA cpas public accounting Account 52

CTP

MARCH 23, 2021

If you have a client who is an expat working in a foreign country, or if your client is a foreign national living in the U.S. but with income from a foreign country, they are required to file U.S. tax returns. On the upside, there is a good chance they are entitled to substantial tax […]. The post 4 Ways to Reduce Taxes on Foreign Earned Income appeared first on certifiedtaxcoach. 4 Ways to Reduce Taxes on Foreign Earned Income was first posted on March 23, 2021 at 9:00 am. ©2017 "

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Tax tax return 52

ThomsonReuters

MARCH 25, 2021

In re: Fidelity ERISA Fee Litigation, 2021 WL 836766 (1st Cir. 2021). Available at [link]. An appellate court has affirmed the dismissal of a class action lawsuit alleging that a retirement plan service provider breached its fiduciary duties when it charged some mutual funds access fees to be included on the provider’s investment platform. The provider, which serves as the recordkeeper and directed trustee for thousands of 401(k) plans, offers a “supermarket” of funds (the Big Menu) from which

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Tax Account accountant accounted 52

Generate Accounting

MARCH 22, 2021

The government has announced significant changes that will impact residential property investors. The Bright Line Test will be extended to ten years, a move that was widely anticipated. In a surprise move, the government will remove interest deductibility on residential rental property mortgages. Brightline Test Extension The existing bright line test will be extended from five years to ten years.

income tax 52

income tax Government Maine Tax 52

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