RogerRossmeisl

APRIL 24, 2024

As reported in IR-2024-46 Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced on 2/21/24 plans to begin dozens of audits on business aircraft involving personal use. The audits will be focused on aircraft usage by large corporations, large partnerships and high-income taxpayers and whether for tax purposes the use of jets is being properly allocated between business and personal reasons.

audit 147

audit CPA Tax cpa firm 147

BurklandAssociates

APRIL 23, 2024

Many startup founders fail to realize that neglecting HR compliance can lead to significant red flags during investor due diligence. The post 3 Common HR “Gotchas” That Could Get You During Due Diligence appeared first on Burkland.

Tax 130

Tax 130

RogerRossmeisl

APRIL 17, 2024

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries including technology and media. If you’re laid off or terminated from employment, taxes are likely the last thing on your mind. However, there are tax implications due to your altered employment circumstances.

Tax 207

Tax CPA 207

MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. 1. What is Audit Representation and How Can It Help Me in Corona, CA?

Tax 130

Tax payroll tax tax return payroll 130

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CPA Practice

APRIL 22, 2024

The Illinois CPA Society (ICPAS)—one of the largest state societies serving the certified public accountant (CPA) community—has announced the honorees of its annual Outstanding Leadership Awards program, which celebrates distinguished leaders within the CPA profession through a variety of prestigious awards. “It’s an honor to formally recognize those who have gone above and beyond in their service to both our organization and the accounting profession,” says Geoffrey Brown, CAE, ICPAS president

Illinois 115

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Accounting Today

APRIL 22, 2024

Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.

Tax 120

Tax 120

Insightful Accountant

APRIL 23, 2024

Insightful Accountant proudly announces this year's Top 25 Up-n-Coming ProAdvisors. Congratulations to all being recognized as this year's award recipients.

Account 105

Account accountant accounted 105

Going Concern

APRIL 19, 2024

Rightworks has released their inaugural 2024 Accounting Firm Technology Survey and the results tell us what we already done knew: Accounting firms are hesitant to adopt next-gen technology. Hell, a bunch of them are hesitant to move to the cloud. In 2024. The survey of decision makers and influencers at accounting, tax and bookkeeping firms revealed that nearly 60 percent of respondents identified their firms as slow adopters of new technologies like AI.

accounting firms 109

accounting firms Account accountant accounted 109

CPA Practice

APRIL 22, 2024

By Paul Liotta, Staten Island Advance, N.Y. (TNS) The Social Security Administration typically releases annual cost-of-living adjustments (COLA) in mid-October, but one organization says it will likely be lower in 2025 than years past. The Senior Citizens League, a nonpartisan senior citizens group, released a 2025 COLA estimate of 2.6% April 10. If the estimate holds, that number was lower than the two previous years when the Social Security COLA brought the total benefit up 8.7% in 2023 and 3.

Government 110

Government 110

Accounting Today

APRIL 19, 2024

The Internal Revenue Service previewed a draft version of the Form 1099-DA on Friday for reporting on the proceeds of digital asset transactions for crypto brokers.

Tax 124

Tax 124

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

RogerRossmeisl

APRIL 17, 2024

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on how much overall income you have, up to 85% of your benefits could be hit with federal income tax. While the truth about the federal income tax bite on Social Security benefits may be painful, it’s better to understand it.

Tax 172

Tax income tax tax return CPA 172

Insightful Accountant

APRIL 22, 2024

Intuit will unpack the latest updates to its QuickBooks Live strategy to prioritize its assisted, do-it-with-me service, taking place on Wednesday, April 24th.

quickbooks 98

quickbooks 98

Going Concern

APRIL 18, 2024

I wish I’d written this news up hours ago when I got a PR email about it, AT scooped us. Oh well. Here’s the news as it was delivered to me: Today, PwC US’ next senior partner, Paul Griggs, introduced our new leadership team—the Operating Committee. You can learn more about all the leaders here [link to the Our US Leadership Team page on PwC’s website].

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CPA Practice

APRIL 22, 2024

By Leada Gore, al.com (TNS) Most people would snap up a job with pay of $100,000 a year. But bringing that amount home will require good deal more income, according to a recent analysis. GoBankingRates.com looked at how much you need to earn in each state to actually bring home $100,000 a year. The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes.

South Dakota 108

South Dakota Alabama New Hampshire Wyoming 108

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

Accounting Today

APRIL 17, 2024

The first class members of the AICPA and NASBA's pilot Experience, Learn & Earn program are completing their inaugural semester.

cpas 131

cpas Education Account accountant 131

Ronika Khanna CPA,CA

APRIL 19, 2024

Residents of Canada are required to reflect all sources of worldwide income on their personal tax returns. For most individuals, who have investments with Canadian based banks and brokerages, this is fairly straightforward as you will receive the relevant tax slips, usually by March 31st of the year following the end of the calendar year i.e. for the 2023 tax year, you should receive all investment related tax forms and slips by March 31st, 2024.

tax return 92

tax return Tax Real Estate accounting and finance 92

Going Concern

APRIL 23, 2024

Reported on Friday, Sky News was tipped to a situation at EY UK that could not have been received well by the firm’s 930 equity partners: They won’t be getting record-smashing payouts this year. Stuart Gregory , EY UK & Ireland Managing Partner, Finance and Transformation, supposedly gave a presentation informing fellow partners that profit-per-partner could go down as much as 15 percent for this fiscal year ending June 30.

Finance 82

Finance 82

CPA Practice

APRIL 22, 2024

By Chris Stephenson and Eric Hylton. The race to integrate Artificial Intelligence into the workflow of Certified Public Accountants is no longer a futuristic concept, but a current reality. Large accounting firms have made substantial strides in using AI to augment their services and deliver high quality outcomes. Yet, for many CPA firms, particularly small to mid-sized organizations, the current pace of technological advancement can seem dauting.

cpas 105

cpas Technology cpa firm CPA 105

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Technology

Accounting Today

APRIL 17, 2024

A phish, a mill and a stroll overseas are just three of the 12 major scams the Internal Revenue Service identified for this year's rogues gallery.

Tax 124

Tax 124

RogerRossmeisl

APRIL 17, 2024

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year §179 depreciation deductions and first-year bonus depreciation deductions. These two deductions can potentially allow businesses to write off some or all of their qualifying asset expenses in Year 1.

CPA 100

CPA Tax business tax 100

KROST

APRIL 17, 2024

KROST’s Assurance & Advisory Senior Manager, Rebecca Hickle, CPA, has been nominated for the CalCPA Women to Watch: Emerging Leader award! This year, there are 47 nominees and three award categories, including Emerging Leader, Experienced Leader, and Trailblazer of the Year. The annual recognitions honor outstanding women making an impact in the profession and industry.

CPA 96

CPA California Account accountant 96

Going Concern

APRIL 17, 2024

According to an article published Monday in the Pittsburgh Post-Gazette , BDO will be moving its Pittsburgh office from the current space in the Heinz 57 Center at 339 Sixth Ave to the new FNB Financial Center at 632 Washington Place. They’ll be taking the 18th floor when they move in next year. PPG says : In a statement, Deron Curliss, assurance practice leader in BDO’s Pittsburgh office, said the new space will provide “a flexible and collaborative work environment” for employees.

Construction 98

Construction Washington accounting firms Tax 98

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Finance

CPA Practice

APRIL 18, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, look at the practice management, billing and collections platform Aiwyn. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Randy Johnston 00:00 Hey, welcome to Technology Lab.

Technology 115

Technology Account accountant accounted 115

Accounting Today

APRIL 18, 2024

PricewaterhouseCoopers US is realigning its organizational structure across three lines of service — Assurance, Tax and Advisory — starting in July.

Tax 122

Tax 122

RogerRossmeisl

APRIL 17, 2024

Many businesses support their communities by donating to local charities. Although there are plenty of non-profits that deserve your support, some exist solely to facilitate fraud. How can you avoid the latter? Familiarize yourself with the deceptive tactics scammers use and carefully screen charities for legitimacy — before you write a check. Branding tricks Fraud perpetrators employ many tried-and-tested approaches to trick businesses into donating to fake charities.

Non-Profits 100

Non-Profits CPA 100

Insightful Accountant

APRIL 18, 2024

Murph takes a first look at 'Figured', a cloud-based agribusiness software app that works with either QuickBooks Online or Xero and that he thinks is '"perfect for farming and ranching.

quickbooks 98

quickbooks 98

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Going Concern

APRIL 17, 2024

Ever since the news broke in early 2023 that a PwC Australia partner brought confidential government tax changes back to the firm for the purposes of monetizing it for corporate tax avoidance, the firm has been struggling to crawl out from under the garbage heap of a scandal. Which is whatever, every Big 4 firm has taken reputational damage on the chin and kept truckin’ But for Big 4 firms in Australia, the fatuous actions of their competitors at PwC have brought unwanted scrutiny and a st

Government 95

Government corporation tax Tax 95

CPA Practice

APRIL 18, 2024

By Suzanne Lucas, Inc. (TNS) The White House just approved a proposal from the Department of Labor to raise the minimum salary for exemption to $55,068 per year. It’s currently at $35,568 per year , so this is quite a jump. What does this mean for your business? Let’s break it down. Salary exemption Under the Fair Labor Standards Act, employees who work more than 40 hours a week are entitled to overtime.

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accounts payable accounting and finance audit Maine 110

Accounting Today

APRIL 18, 2024

Accounting and finance professionals are expressing greater confidence about the world economy this year, according to a new survey.

Account 128

Account accountant accounted accounting and finance 128

RogerRossmeisl

APRIL 17, 2024

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. If you inherit a tax-favored retirement account, including a traditional or Roth IRA, you’ll also have to deal with these rules. Specifically, you’ll have to: 1) take annual withdrawals from the accounts and pay the resulting income tax and/or 2) reduce the balance in your inherited Roth IRA sooner than

income tax 100

income tax Account accountant accounted 100

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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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