Withum

SEPTEMBER 22, 2022

There were two PPP loan programs: (i) First Draw PPP Loans that were issued beginning in April 2020, and (ii) Second Draw PPP Loans that were issued beginning in January 2021. Although a taxable event occurs when a loan is forgiven, the CARES Act (enacted March 27, 2020) excluded from gross income PPP loan forgiveness amounts.

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LyfeAccounting

OCTOBER 12, 2020

As a result, businesses benefit from high-quality accounting, bookkeeping and tax services at a much lower cost. Tax Planning. Tax Audits. Financial Tracking and auditing. The post Virtual CPA: Why Everyone is Looking For One in 2020 appeared first on Small Business Accounting & Finance Blog.

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CPA Practice

MARCH 6, 2024

Lettuce has launched its new solution for accounting and tax services for solopreneurs, with $6 million in seed funding led by Zeev Ventures to fuel growth and product development, and its Solopreneur Accelerator program. To participate, register by March 31 at [link].

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inDinero Tax Tips

JUNE 7, 2023

Recently, the agency revealed they’ll use some of those funds to hire thousands of agents to audit the filings of wealthy individuals and corporations to close “the tax gap.” Additionally, the funding will be used to modernize and improve the customer service experience of all tax filers who interact with the IRS.

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KROST

SEPTEMBER 25, 2020

She received this recognition during the 14 th Annual CFO Awards hosted by the Los Angeles Business Journal on September 23, 2020. KROST provides audit and tax services to Phonexa. “We Learn more about our audit and tax services. Congrats, Lilit! View the 14th Annual CFO Awards: Have questions?

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inDinero Tax Tips

NOVEMBER 7, 2023

Net Operating Loss Limitations Record Keeping and Documentation Conclusion Navigating tax advantages like net operating losses can be a headache. InDinero’s business tax services can save you time and money, as our team of professionals will ensure you’re making the most of every tax year. What is a Net Operating Loss?

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CPA Practice

AUGUST 17, 2023

Taylor and Bryant both agreed that along with commonalities in services, industries, and vision, the two firms share very similar cultures. When Smith + Howard launched our 10-year vision in 2020, the non-negotiable in that vision was our culture. It is core to who we are, and we will not sacrifice culture for the sake of growth.

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CPA Practice

JULY 12, 2023

Wei is a member of the Accounting and Auditing, the Quality Control and Peer Review, and the SEC committees at the NYSSCPA. Lee is a current member of the Suffolk Chapter and currently serves on the NYSSCPA’s Audit, Government Accounting and Audit, and Nor-for-Profit committees. Button joined the Society in 2020.

Pennsylvania 52

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Going Concern

NOVEMBER 2, 2022

Compare these numbers to the 2021 AICPA Trends report : total accounting degree completions from 1994-2020 peaked in 2015-16 (79,854) and for 2019-20 which are the years covered in the 2021 Trends report, we had a combined 72,923 bachelor’s and master’s graduates. Demand is especially strong for audit and tax professionals.

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CPA Practice

OCTOBER 18, 2023

While online shopping has been trending toward more immediate fulfillment expectations, the effects of the COVID-19 pandemic and the prevalence of the gig economy certainly contributed to the success of emerging on-demand service platforms. Tax rates on services are similarly varied. Some states tax services, others don’t.

Tax 52

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Withum

MAY 23, 2022

The ERC is a fully refundable tax credit for employers impacted by the COVID-19 pandemic. Eligible employers can receive a maximum benefit of $26,000 per employee for wages paid to employees in 2020 (up to $5,000) and 2021 (up to $21,000). Taxpayers should expect the same with respect to the IRS and its audits of the ERC.

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CPA Practice

MARCH 13, 2023

Perfetto has worked with numerous large, publicly traded clients on complex accounting and audit matters such as acquisitions, impairment analysis, valuation, income tax provision, group audits, and management review controls. He also has significant experience working with mid-size and developing privately held businesses.

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inDinero Tax Tips

NOVEMBER 7, 2023

Net Operating Loss Limitations Record Keeping and Documentation Conclusion Navigating tax advantages like net operating losses can be a headache. InDinero’s business tax services can save you time and money, as our team of professionals will ensure you’re making the most of every tax year. What is a Net Operating Loss?

accrual accounting 52

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Are Legal Fees Tax Deductible in 2020? Make Sense of Your Taxes.

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Withum

NOVEMBER 17, 2022

Prior to making a pass-through entity election, there are several key issues that businesses need to consider: IRS Approval: The IRS indicated in Notice 2020-75 that it intends to allow PTETs. Federal Tax Benefit Implications : It is possible that the PTET benefit may be limited if some taxpayers are subject to the federal tax benefit rule.

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Cherry Bekaert

FEBRUARY 2, 2024

Despite fluctuations over the past 12 months, EBITDA multiples have aligned more with the historical levels experienced between 2017 and 2020 and point to a progression to full-on correction mode. Contracting Valuation Multiples In addition to declining deal volumes, private M&A multiples continued to regress in 2023.

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inDinero Accounting

MAY 5, 2021

The thought of a compliance audit makes most people sweat. Currently, the SBA is conducting first-round PPP audits. Get our handy infographic on the likelihood of a PPP audit. inDinero clients have a team of accounting and tax expertise to ensure accurate financials are fit for business management, investors, and taxes.

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TaxConnex

NOVEMBER 23, 2021

In fact - Cross-border eCommerce sales worldwide grew more than 20% in 2020 while U.S. Other reports show that eCommerce made up roughly $1 out of every $5 spent on retail in 2020, up from about $1 out of every $7 spent in 2019. Creating bandwidth to address customer questions and internal business questions related to sales tax.

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Going Concern

MAY 25, 2022

We all received an email right before Thanksgiving 2020 in the middle of the pandemic announcing a certain employee’s bonus for the quarter. Because the COVID-19 pandemic was at its height in 2020, none of these three annual events could take place. According to its website , ZMFF&J specializes in tax planning and litigation. “We

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Going Concern

FEBRUARY 16, 2024

Bill would let private CPAs, not state auditor’s office, audit state agencies [ Radio Iowa ] Senator Mike Bousselot, a Republican from Ankeny, IA seems to think letting CPA firms audit government books instead of the state auditor will fix the accountant shortage somehow? Between January 2020 and June 2023, Jeffrey T.

Real Estate 104

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Ryan Lazanis

APRIL 4, 2022

Your productized service should be broken down into 3 components: Component 1: Services Every core offering will contain professional services and accounting work. In order to deliver your client’s ideal result, what services do you need to provide? Monthly accounting and bookkeeping services? Advisory Services?

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