Accounting Today

MARCH 6, 2024

An analysis by the Washington Post found the generative AI chatbots from both companies can give tragically wrong tax answers.

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CPA Practice

OCTOBER 5, 2023

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) For me, the dread of tax season truly arrives when I start receiving 1099s, W-2s, 1098s, etc., A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results.

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CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.

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CPA Practice

JUNE 5, 2023

Taylor, Kiplinger Consumer News Service (TNS) NBA finals Game 2 is in the books, and many people who tuned in to see the Miami Heat tie the series with the Denver Nuggets are probably not wondering what a jock tax is. But the NBA Finals—and other sporting events—are connected to taxes in a big way. What is the jock tax?

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CPA Practice

JANUARY 29, 2024

And yet, investors often overlook the critical role tax efficiency can play in successful retirement planning. This isn’t something you can wait until each year’s tax season to worry about and maybe try to play catch-up. A Roth IRA can provide more flexibility when it comes to paying taxes in retirement.

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CPA Practice

SEPTEMBER 18, 2023

Whether the market is up or down, it’s always a good time to keep your taxes in mind and, more specifically, how you can put yourself in an advantageous position by keeping more of your own money in your pockets. When it comes to tax optimization, there are two common strategies: Roth conversions and tax-loss harvesting.

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CPA Practice

MARCH 12, 2024

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate. of your AGI.

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CPA Practice

APRIL 2, 2024

Miser, Kiplinger Consumer News Service (TNS) For retirees, navigating the intricate landscape of taxes is a nuanced task. This is especially important when it comes to the net investment income tax (NIIT). What is the net investment income tax? NIIT, smoothing out their tax liability over time. tax applies.

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Withum

FEBRUARY 20, 2024

The tax implications and overall economic impact will be felt throughout the league and the states in which they play. When it comes to state income taxes, professional athletes establish residency in one state and are taxed by each other state relative to the number of “duty days” they spend there.

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CPA Practice

MARCH 11, 2024

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate. of your AGI.

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CPA Practice

DECEMBER 21, 2023

Guy, RICP, Kiplinger Consumer News Service (TNS) Making tax-deductible contributions to your retirement accounts can seem like a luxury. However, they might become a burden in retirement if you don’t plan ahead. An RMD is the minimum amount you must withdraw annually to avoid a tax penalty. Raise your alternative minimum taxes.

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CPA Practice

JANUARY 22, 2024

Careful planning can use this individual ownership interest to save substantial tax in the event of the sale of the corporation or company. million in tax on the sale and a safe, predictable stream of income in the amount of $180,000 per year for his and his spouse’s lives. This is for at least two reasons.

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Going Concern

MAY 16, 2023

Once again, in what can only be described as an attempt to market its tax platform, Bloomberg has released its annual awards for the Bloomberg Tax Authors of the Year. Eager readers can pick their flavor of tax writing, all of which are likely to be able to solve insomnia issues, should said readers suffer from them.

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CPA Practice

JANUARY 4, 2024

My new client needed a tax-smart plan to kick Uncle Sam to the curb before he was forced to take that money out of his 401(k) in the form of required minimum distributions (RMDs). Why is tax planning so important for those with $1 million or more in their 401(k)s or IRAs? Higher taxes seem to be the obvious answer.

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CPA Practice

AUGUST 3, 2023

Supreme Court has agreed to hear a landmark tax law case this fall, highlighting again the ever-changing extreme complexity of federal tax law. The case underscores an unfortunate reality: Businesspeople need a tax mitigation plan just as critically as they do a financial plan, a succession plan or an estate plan.

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CPA Practice

JANUARY 8, 2024

My new client needed a tax-smart plan to kick Uncle Sam to the curb before he was forced to take that money out of his 401(k) in the form of required minimum distributions (RMDs). Why is tax planning so important for those with $1 million or more in their 401(k)s or IRAs? Higher taxes seem to be the obvious answer.

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CPA Practice

JUNE 16, 2023

By Martin Schamis, CFP, Kiplinger Consumer News Service (TNS) The Tax Cuts and Jobs Act (TCJA) of 2017 is currently scheduled to sunset at the end of 2025, meaning significant changes are on the horizon for taxpayers. TCJA brought sweeping changes to the tax code for both businesses and individuals. 529 plan accelerated gifts.

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CPA Practice

NOVEMBER 27, 2023

When you donate stocks, you are exempted from paying capital gains tax on stock appreciation, which increases your donation value while lowering your tax. Cash has a lower tax efficiency and has a high likelihood of reducing your donation value. In this case, you may not donate anything in the preceding years.

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CPA Practice

FEBRUARY 5, 2024

He specializes in the development, implementation, and oversight of financial, estate and tax plans for high-net-worth individuals, C-suite executives, and affluent families. He has authored many articles and columns for professional journals including the Journal of Financial Planning, Journal of Accountancy, and The Tax Adviser.

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PYMNTS

OCTOBER 19, 2020

OECD’s Tax Reform To Be Presented To G20. The Organization for Economic Cooperation and Development (OECD) , which is based in France, said its worldwide tax reform blueprint will be put in front of the Group of 20 finance ministers. France Will Proceed With Controversial Digital Services Tax Plan.

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CPA Practice

MAY 10, 2024

KSM Announces Appointments for Five New Leadership Roles Katz, Sapper & Miller (KSM) recently announced the appointments of Erin Eberly, Jason Patch, Mike North, Mike Lee, and Jamie Ellis to newly created roles overseeing the firm’s tax, audit, and advisory practices, its industry groups, and its operations.

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CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

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CPA Practice

JUNE 1, 2023

There are two main reasons for this: growth and taxes. Drawing from cash will also keep your taxes low in your early years of retirement. This will allow you to move money from a traditional IRA, or any pre-tax account, into a Roth IRA at a potentially lower rate than what you would pay in the future.

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ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

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Bharmal&Associates

SEPTEMBER 4, 2020

From individual tax planning services to complex corporate consulting engagements, we are ready to be your full-service CPA firm. Clutch’s office is a few steps away from the Washington Monument in the District of Columbia. We primarily focused on preparing taxes and consolidating the books to report tax data properly.

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CPA Practice

JUNE 20, 2023

By Laura Weiss, CQ-Roll Call (TNS) House Democrats’ latest proposal to expand the child tax credit includes a new feature: a $2,000 payment for newborn babies. The two parties have been battling over the tax benefit since before a larger version of it lapsed after 2021. who held a hearing last week on family and household tax benefits.

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CPA Practice

FEBRUARY 7, 2024

By Daniel Goodwin, AWMA, Kiplinger Consumer News Service (TNS) Opportunity zones, created by the Tax Cuts and Jobs Act, were designed to spur economic development and job creation in specific communities and census tract areas, while simultaneously providing substantial tax incentives for investors. How do opportunity zones work?

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CPA Practice

MAY 31, 2023

The rule of thumb, per Fidelity, is to “aim to save at least 15% of your pre-tax income each year for retirement, which includes any employer match.” Moving to one of the 15 states that won’t tax your pension could also help lessen the burden on your available income. All contents copyright 2023 The Kiplinger Washington Editors Inc.

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SkagitCountyTaxServices

DECEMBER 8, 2021

And one way you can do so is by making some tax moves before the clock strikes 12 on New Year’s Eve. Now I get it … the rush of customers and clients, strange hours, extra errands: It’s a tough time of year to think about tax. But the calendar waits for no business, and time is getting short to plan your moves.

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CPA Practice

JUNE 8, 2023

Fohn is the current President & CEO of Fohn Consulting in Bellingham, Washington. Throughout his career, he has specialized in tax compliance and planning, trust analysis, estate and gift tax planning, and investment partnerships. Fohn’s volunteer service with the AICPA began 18 years ago.

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Accounting Today

NOVEMBER 17, 2022

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Washington 92

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CPA Practice

MAY 17, 2023

In addition, the SLA team’s roots in Northern Virginia provide Schneider Downs with additional resources to serve existing clients in that region, while also helping the firm expand the offerings in its Washington D.C. tax planning experience as well as considerable international tax and transfer pricing experience to FORVIS.

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Going Concern

OCTOBER 27, 2023

noting the Democrats’ signature tax and climate law “dumped” $80 billion into IRS accounts. ” Werfel said he would continue to focus on three areas to convince lawmakers his transformation of IRS was working: improving customer service, boosting enforcement of high-earning tax cheats and reducing tax scams. .”

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Going Concern

MAY 26, 2023

Long Read How a Pandemic-Era Program Became a Magnet for Fraud [ New York Times ] Amid the onset of the pandemic in 2020, as large swaths of the economy went into lockdown, Washington set up various programs to help keep businesses and their workers afloat. The reshuffle goes into effect on July 1. ‘No

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Going Concern

MAY 5, 2023

Entry-level CPAs in advisory practices are making $11,000 more than CPAs starting out in audit and tax, and $20,000 more than non-CPAs in advisory. Entry-level CPAs in advisory practices are making $11,000 more than CPAs starting out in audit and tax, and $20,000 more than non-CPAs in advisory. He worked for Kimberly-Clark Corp.

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CPA Practice

DECEMBER 6, 2023

When you donate stocks, you are exempted from paying capital gains tax on stock appreciation, which increases your donation value while lowering your tax. Cash has a lower tax efficiency and has a high likelihood of reducing your donation value. In this case, you may not donate anything in the preceding years.

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Going Concern

JULY 24, 2023

The probe was set up after the PwC tax leak scandal in which a partner marketed confidential information about government tax plans to clients. Sahyoun, for entire term as Board of Taxation CEO, was simultaneously a current senior employee and tax partner of PwC Australia. That CEO was Christina Sahyoun. And companies.

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