For federal payroll taxes that were deferred as far back as 2020, businesses have until December 31, 2022, to fulfill their obligations. Businesses risk receiving hefty tax penalties if they don’t follow the rules. You and your clients might not
Profit is defined as the financial benefit realized when the revenue generated by a business activity exceeds the expenses, costs, and taxes associated with the activity in question. Profits are returned to business owners, who can choose to pocket the
The last year has seen a sharp decline in Americans’ level of comfort with cryptocurrencies. In 2022, the appeal of cryptocurrencies such as Bitcoin has plummeted. Americans of all age groups have become increasingly uneasy with cryptocurrency in the last
Adjusting service or product pricing is one of the easiest techniques for any business to increase cash flow. When is the last time one of your business clients tried to raise their prices? An accountant understands that cash flow is
Hurricane Ian victims in Florida now have until February 15, 2023, to file and pay various federal individual and business tax returns. The Internal Revenue Service (IRS) announced that the deadline for filing various federal individual and business tax returns
Those who failed to file their FBAR by the deadline of April 15 automatically received a delay until October 15, 2022. The Internal Revenue Service (IRS) reminds U.S. citizens, resident aliens, and domestic legal entities that the extension deadline for
Only 50% of American businesses have a cybersecurity plan in place, despite the fact that cybercrime has cost them almost $7 billion in 2021. A cybersecurity benchmarking study was just completed by ThoughtLab, leadership and economic research firm. The study,
The IRS has discovered and reported thousands of fraudulent domains linked to numerous MMS/SMS/text scams (also known as smishing) that target taxpayers so far in 2022. The Internal Revenue Service is alerting taxpayers to a recent rise in texting scams
The AICPA is providing updated guidance for CPAs working in both public and private businesses in its code on potential conflicts of interest. Any profession is susceptible to conflicts of interest, and CPA firms are not an exception. Although the
The daily per diem rate for business travel to less expensive locations is $204 per day. $297 will be the highest rate. The per diem rates will rise as of October 1, 2021, according to the Internal Revenue Service. The