When searching for a new CFO, look beyond their technical skills to determine whether they have soft skills like honesty and resiliency that are necessary to represent your business well and build a positive environment that leads to continued success.
In BST's tax newsletter: RSM Tax Insights, Lockdown on Federal Tax Proposals for Individuals and Businesses, Tax Consequences of Offering Innovative Benefits, How are Traditional IRA Withdrawals Taxed, What's and IP PIN and Should You Have One for Protection, Learn the Tax Score for Fantasy Sports.
BST & Co. has seen major growth in its 100% virtual accounting division in the last two years, building on a trend of small businesses outsourcing some or most of their accounting services.
In its interesting October 4, 2021 decision in Charles H. Leyh v. Commissioner of the Internal Revenue Service, the tax court decided in favor of the taxpayer and concluded the paying spouse could both exclude from income health insurance premiums deducted from payroll under a cafeteria plan and deduct as alimony the portion of those premiums covering the recipient spouse pursuant to a pre-2019 pendente lite agreement.
On September 24, 2021, Judge Alvin W. Thompson of the United States District Court of Connecticut denied a motion made by the IRS asking the Court to conclude that no discount should be available for a gift of a fractional interest unless the taxpayer held such interest in fractional form before the gift.
BST's tax newsletter. In this issue: IRS Clarifies Rules on Excess Compensation Tax, Tax Implications of Taking 529 College Savings Plan Withdrawals, Refresher on the Home-Sale Gain Exclusion Tax Break, Following Up on Coronavirus-Related Distributions from IRAs, and 20 FAQs About RMDs.
In today’s tight employment market, it can take months to replace an accountant. Meantime, look for ways to delegate, upgrade technologies, and outsource.
Launched nearly a decade ago, the Identity Protection (“IP”) PIN program purpose was to allow confirmed identity theft victims to obtain a PIN from the IRS, which is then necessary to electronically file a federal tax return. Beginning in 2021, the IRS expanded the program to make it available to all taxpayers in an effort to prevent identity thieves from filing fraudulent tax returns using a taxpayer’s personally identifiable information.
ALBANY, New York, August 25, 2021 – Beth van Bladel, director of BST CFO for Hire, is the 2021 recipient of the New York State Society of Certified Public Accountants (NYSSCPA) Distinguished Service Award.
BST has developed a hybrid work policy that covers the vast majority of its employees. Remote work isn't going away. Instead, BST is building remote or hybrid options into its long-term plans.
Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000.
BST's tax newsletter. In this issue: Finally...Some Good News, IRS Update, Reap Tax Rewards from Securities Harvest This Fall, Material Participation Standard is the Key to Unlocking LLC Tax Losses, Vacation Home Usage Has Tax Implications, 4 Tax-Saving Credits for Families.
