December 2022 News Update
Engineered Tax Services Inc.
Most Interesting Firm in Specialty Tax. Increasing near-term cash flows for thousands of CPA firms & their clients.
Scam Alert! How to avoid Employee Retention Tax Credit Scams!
A survey by the?National Federation of Independent Business (NFIB) ?found that only 4% of small business owners are “very familiar” with the Employee Retention Tax Credit program. Furthermore, only 32% said they were “somewhat familiar” with the incentive. Scammers are taking advantage of this unfamiliarity to collect high fees from business owners.
Are you an eligible employer?
Eligible employers can claim the credit against the employer share of Social Security tax equal to 70% of the qualified wages they paid to employees after December 31, 2020, through September 30, 2021. Because qualified wages are limited to $10,000 per employee per calendar quarter in 2021, the maximum ERC amount available is $7,000 per employee per calendar quarter, for a total of $21,000 in 2021.
All you need to know?about Cost Segregation?in one?video!
What is Cost Segregation, its Benefits and a Case Study
Cost segregation can be tricky to understand. In a nutshell, it helps real estate owners and investors minimize their tax liability by speeding up depreciation. This video explains cost segregation, its benefits and takes you through a real-life example.
We will give you a free estimate on how much you could potentially save on your property.
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Do you have a brand guide that includes its tone of voice?
Establishing your accounting firm on social media
Establishing your accounting firm’s?voice on social media ?should be a top priority. If your firm doesn’t have a brand guide that includes its tone of voice, now is the perfect time to create one. It doesn’t have to be a full-blown brand guide —just something that helps to establish and maintain a consistent brand voice. This will play an important role in building and differentiating your firm.
Our new Advisory Accelerator Podcast is LIVE -
Extending CPAs capabilities using virtual tax offices
On this edition we connect with?Stephen Way of Paragon Tax Planners?to discuss how his firm partners with CPAs to help expand the capabilities of their existing tax practices.?
Check out Heidi Henderson's newest episode:
Being Your Wild Self
On this episode, Heidi talks to Chris Heeter about her background working with sled dogs, how the skills she learned can be applied to human interactions, and the experience impacts how she acts as a leader.