Bumpers & Company (@bumpersco) 's Twitter Profile
Bumpers & Company

@bumpersco

Bumpers & Company, CPAs, is a Wilmington-based CPA and consulting company that has been providing outstanding service to a wide range of clients since 1922.

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linkhttp://www.bumpersco.com calendar_today04-10-2015 22:55:56

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For 2022, the annual HSA contribution limitation for an individual with self-only coverage under a HDHP will be $3,650. For an individual with family coverage, the amount will be $7,300. This is up from $3,600 and $7,200, respectively, for 2021. #HSA #CPA #HDHP

For 2022, the annual HSA contribution limitation for an individual with self-only coverage under a HDHP will be $3,650. For an individual with family coverage, the amount will be $7,300. This is up from $3,600 and $7,200, respectively, for 2021. #HSA #CPA #HDHP
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Wondering whether alternative energy technologies can help you manage costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of alternative energy property. #alternativeenergy #businessenergycredit

Wondering whether alternative energy technologies can help you manage costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of alternative energy property. #alternativeenergy #businessenergycredit
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Key tax-related deadlines for businesses/employers during 3rd Quarter. 8/2: Form 941, Form 5500/5500-EZ. 9/15: Calendar-year S corp/partnership on extension, file 2020 income tax return, If calendar-year C corp., pay third installment of 2021 estimated taxes. #Q3 #5500 #941 #tax

Key tax-related deadlines for businesses/employers during 3rd Quarter. 8/2: Form 941, Form 5500/5500-EZ. 9/15: Calendar-year S corp/partnership on extension, file 2020 income tax return, If calendar-year C corp., pay third installment of 2021 estimated taxes. #Q3 #5500 #941 #tax
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Claiming #deductions for #businessmeals or auto expenses? Expect the #IRS to closely review them. Keep detailed, accurate records. For each #expense, record the amount, the time and place, the business purpose, and the business relationship of anyone to whom you provided a meal.

Claiming #deductions for #businessmeals or auto expenses? Expect the #IRS to closely review them. Keep detailed, accurate records. For each #expense, record the amount, the time and place, the business purpose, and the business relationship of anyone to whom you provided a meal.
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Wishing you a safe and happy Fourth of July! Our offices will be closed Friday, July 2nd. #Happy4thofJuly #IndependenceDay2021

Wishing you a safe and happy Fourth of July! Our offices will be closed Friday, July 2nd.  #Happy4thofJuly #IndependenceDay2021
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In Notice 2021-40, the #IRS announced a 12-month extension of its temporary relief from the requirement that certain signatures must be witnessed “in the physical presence” of a #401(k) plan representative or notary public; instead, audio-video technology can be used. #CARESAct

In Notice 2021-40, the #IRS announced a 12-month extension of its temporary relief from the requirement that certain signatures must be witnessed “in the physical presence” of a #401(k) plan representative or notary public; instead, audio-video technology can be used.  #CARESAct
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There are many reasons #profits and #cashflow might differ, including changes in working capital, fixed assets, financing and owners’ capital. Business owners should look beyond profits to ensure they have enough cash on hand to pay employees, suppliers, lenders and the #IRS.

There are many reasons #profits and #cashflow might differ, including changes in working capital, fixed assets, financing and owners’ capital. Business owners should look beyond profits to ensure they have enough cash on hand to pay employees, suppliers, lenders and the #IRS.
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The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA). The maximum ERTC available is generally $7,000 per employee per calendar quarter or $28,000 per employee in 2021. #EmployeeRetentionTaxCredit

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA). The maximum ERTC available is generally $7,000 per employee per calendar quarter or $28,000 per employee in 2021. #EmployeeRetentionTaxCredit
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Are you eligible to take the deduction for qualified business income? This tax break is also referred to as the pass-through or Section 199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies, partnerships and S corps. #QBI #CPA

Are you eligible to take the deduction for qualified business income? This tax break is also referred to as the pass-through or Section 199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies, partnerships and S corps. #QBI #CPA
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Our Partner, Chad Milton, recently attended the GCIF Conference in Las Vegas, NV, where he was awarded the "Top 100 Global Leaders in Finance" award - and had a chance to renew his vows with his lovely wife. Congrats, Chad!

Our Partner, Chad Milton, recently attended the GCIF Conference in Las Vegas, NV, where he was awarded the "Top 100 Global Leaders in Finance" award - and had a chance to renew his vows with his lovely wife. Congrats, Chad!
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#Entrepreneurs often don’t know that many #start-up #expenses can’t be currently #deducted. Some have to be amortized over time. Contact us to learn more: [email protected] #CPA #SmallBusiness

#Entrepreneurs often don’t know that many #start-up #expenses can’t be currently #deducted. Some have to be amortized over time. Contact us to learn more: cpa@bumpersco.com #CPA #SmallBusiness
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Office Administrator/Office Manager - Unique opportunity to join our award-winning team. Flexible work schedules, amazing benefits, super co-workers. Don't let this one pass you by: #opportunity #hiring #team #careers #jobs #joinourteam ziprecruiter.com/job/7e5e1549

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AR not in a good place? 1) Redesign invoices to ensure they’re easy to understand, 2) Appoint a collections champion to follow up on past due invoices, 3) Expand your payment options to include the latest mobile technology, 4) Run AR aging reports #Accountsreceivable #Collections

AR not in a good place? 1) Redesign invoices to ensure they’re easy to understand, 2) Appoint a collections champion to follow up on past due invoices, 3) Expand your payment options to include the latest mobile technology, 4) Run AR aging reports #Accountsreceivable #Collections
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The Trust Fund Recovery Penalty applies to the SS and income taxes required to be withheld by a business from employee wages. Because taxes are considered government property, the employer holds them in “trust” until they’re paid. The IRS is aggressive in enforcing the penalty.

The Trust Fund Recovery Penalty applies to the SS and income taxes required to be withheld by a business from employee wages. Because taxes are considered government property, the employer holds them in “trust” until they’re paid. The IRS is aggressive in enforcing the penalty.