article thumbnail

Mastering Labor Challenges Can Drive Growth for CPA Firms

CPA Practice

Bureau of Labor Statistics estimates employment of accountants and auditors to grow by about 4% each year through 2032, with an annual number of job openings expected to be about 126,500. The results are profound: more than 99% of the top CPA firm leaders in the US said they can’t adequately fill their staffing needs domestically.

cpa firm 122
article thumbnail

Home Energy Credits Under the Inflation Reduction Act

CPA Practice

By Mike D’Avolio, CPA, JD. 16, 2022, providing numerous tax deductions and tax credits for individuals, families and businesses. New tax incentives were added, and existing tax incentives got extended and enhanced. The Inflation Reduction Act of 2022 was signed into law on Aug.

CPA 122
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Tax Tips for the 2024 Filing Season from the AICPA

CPA Practice

The 2024 tax season has officially begun; 2023 returns are now being accepted by the Internal Revenue Service (IRS) and are due Monday, April 15, 2024. The IRS expects to have more than 128 million individual tax returns filed by that deadline. Solar energy credit : this credit amount has increased to 30%.

Tax 117
article thumbnail

Tax Tips for the 2024 Filing Season from the AICPA

CPA Practice

The 2024 tax season is almost over and millions of Americans are finalizing their 2023 returns, which are due to the Internal Revenue Service by Monday, April 15, 2024. The IRS expects to have more than 128 million individual tax returns filed by that deadline. Filing season can also be a busy time for scam artists.

Tax 96
article thumbnail

Clean Vehicle Credits Under the Inflation Reduction Act

CPA Practice

By Mike D’Avolio, CPA, JD. 16, 2022, and provides numerous tax deductions and tax credits for individuals, families, and businesses. New tax incentives were added, and existing tax incentives were extended and enhanced. The Alternative Fuel Refueling Property tax credit is extended for 10 years through Dec.

article thumbnail

IRS $80 Billion Plan Targets Taxpayer Compliance, Improved Service

CPA Practice

According to the report, the $80 billion in IRA funding will primarily be used to: rebuild and strengthen IRS customer service, add capacity for the IRS to better evaluate complicated tax returns of high-net-worth individuals, large corporations, and complex partnerships, and update outdated IRS operating systems and technology.

audit 111