Siegfried Advisory

In September, our entire Siegfried Advisory team gathered with our colleagues from The Siegfried Group for our National Summit in Las Vegas! The weekend was full of inspiring speakers from Dr. Nido R. Qubein to Simon Sinek and our very own CEO & Founder, Robert Siegfried. The team also enjoyed events from a Poolside Welcome Reception to a nostalgic Siegfried Summer Camp evening. We can't wait until the next time we are able to get the whole team together again!?

Welcome back to our series on building a sustainable finance function. In this installment, we shine a spotlight on financial analysis and reporting, pivotal for driving informed decision-making and strategic planning. Check out the link below to delve into the key areas of focus and how Siegfried Advisory can help you achieve your goals through effective financial analysis and reporting.

Earlier this fall, our Tax Resourcing team in Atlanta had to opportunity to participate in a Squid Games Virtual Reality game at Sandbox VR. The event was full of positive energy and laughter. The evening ended with tacos and drinks to celebrate the end of an amazing night of building current and new connections.?

Not charging tax on tips is a proposal that has made it into bills introduced in both chambers of Congress.?A bill that was introduced on June 18 would treat tips as gifts, excluding them from Social Security tax, unemployment compensation tax, and wage withholding. A bill introduced a few days later received more attention, and it would allow individual tipped workers to claim an above-the-line deduction equal to their reported cash tips. These include tips received in cash, check, or on a credit/debit card. This would change the current treatment of tips, which states that tips of at least $20 received by an employee in any month from one employment are considered wages that are subject to withholding and must be reported to the employer.?

Our Tax Planning & Compliance team is hiring! If you or someone you know is looking for a new, exciting opportunity, check out our open positions through the link below. Be sure to check out our additional open positions as well! https://lnkd.in/eGGM3Dgi

We're thrilled to share that Siegfried Advisory was recently recognized by INSIDE Public Accounting as one of the Top 400 and as one of the fastest-growing CPA firms in the country! Read more about this recognition on our website.

For our 28th MY Journey? event in Las Vegas, Dr. Nido R. Qubein, President of High Point University, returned to the Siegfried stage. In a fan-favorite segment, Nido’s insights about transformative change, clarifying what success means to you, and understanding your distinct dreams were thought-provoking and inspiring!

Between the energy from our Siegfried Superfans, the thoughtfulness from Simon Sinek, and the clarity from looking forward to the future of the Firm, National Meeting was framed by the reflective, fun, fair, and distinctive culture that makes Siegfried so special.

Curious about crafting a sustainable and scalable finance and accounting function for your small or middle market business? Check out the link below to delve into the bedrock of financial integrity: accounting and the Month-End Close.

On September 15, 2023, the IRS released a draft of a new form 6765, used to claim the R&D Tax Credit. The most significant changes are for small and medium businesses. Section G on the draft of form 6765 will be optional for “qualified small business” taxpayers that are electing the payroll tax credit and that have total qualified research expenditures equal to or less than $1.5 million and gross receipts equal to or less $50 million. Larger taxpayers that do not meet these requirements the IRS reduced the number of business components reported on Section G. Taxpayers must report 80% of their QREs in descending order by business component, with a maximum of 50 business components. The revised Section G is optional for taxpayers in 2024 but required for taxpayers of all size in 2025. Check out the link below for more details about this new form!