CPA Practice

JANUARY 17, 2023

Tennessee: The Tennessee Society of CPAs (TSCPA) recently released its Updated Fiscal Year 2021 Tennessee Tax Credit Report which provides a detailed list of all credits claimed for tax periods July 1, 2020 to June 30, 2021. Shapiro’s first budget proposal.

CPA 124

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Withum

MARCH 17, 2022

Most tax accountants would not be described as “hip” and many struggle to be considered “tech savvy”. The Crypto market capitalization, calculated by multiplying price of the cryptocurrency with the number of coins in circulation, went over $1 trillion in 2021. Let’s be honest. NFT sales volume totaled $24.9

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Withum

JUNE 24, 2022

When that prohibition was lifted nine months later by the Consolidated Appropriations Act, 2021, claims for the ERC exploded. One unfortunate side effect of the ERC explosion has been the proliferation of tax credit companies offering dubious advice in exchange for outsize fees. See generally Notice 2021-20, Q&As #23-28.

Tax 126

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Going Concern

SEPTEMBER 1, 2022

It wasn’t until 2015 that a woman became CEO of a Big 4 accounting firm for the first time. 65% of new graduate new hires hired into accounting/finance functions of U.S. Starting I couldn’t take the kind of paycut to be a entry level field auditor or tax. Accounting is miserable. CPA firms are white.

cpas 96

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KROST

MARCH 9, 2022

KROST CPAs and Consultants reported a record year of M&A advisory work in 2021 and expects to remain equally busy in 2022. “We We were involved in 21 buy-side and sell-side transactions in 2021”, said Paren Knadjian , Head of M&A and Capital Markets at KROST, “most of the time as the exclusive financial advisor.

Entertainment 52

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ThomsonReuters

JANUARY 28, 2022

If you spend a lot of time hiring temporary employees just to help with tax season, you could be missing out on a lot of potential talent—those employees who are looking for long-term positions. Tax accountants who only need office space for a few months out of the year must spend a lot of time before tax season looking for good options.

Tax 102

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TaxConnex

JUNE 9, 2022

Voters will likely be asked this fall if they’re willing to increase the city’s 5% sales tax to 6% during the summer in exchange for exempting food from sales tax year-round. For gross receipts from the sale of newly taxed services prior to Jan. Texas sales tax revenue totaled $3.83 more than in April 2021.

Sales 194

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CPA Practice

SEPTEMBER 26, 2023

Garden City will be Armanino’s second location in New York; the firm has had an office in New York City since 2021. Founded in 1938 by Richard Janover, the firm delivers a wide range of tax, accounting, and consulting services to clients that include privately held businesses and high-net-worth individuals.

Real Estate 59

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Withum

JANUARY 8, 2024

Until the proposed regulations are published, taxpayers can rely on the excluded product right exception for R&E expenditures paid or incurred in the taxable years beginning after December 31, 2021.

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CPA Practice

FEBRUARY 1, 2023

As part of the deal, Citrin Cooperman acquired the nonattest business of Berdon, which provides tax, accounting, and consulting services to clients. Citrin Cooperman has been on a M&A deal spree since securing private equity investment from New Mountain Capital in October 2021.

Real Estate 98

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Going Concern

NOVEMBER 24, 2023

EY moved to a hybrid work policy in 2021 “with the expectation that most of its people will normally spend at least two days a week working remotely”. For instance, from 2017 to 2021, accountants aged 25-29 had a median salary of $56,000, compared to financial analysts who earned around $74​,000.

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ThomsonReuters

FEBRUARY 1, 2021

Employers paid FUTA tax at a rate of 3.0% Department of Labor to be a FUTA credit reduction state in 2021 if it does not repay its loans by November 10, 2021. As of January 28, 2021, 18 U.S. in 2020 and the Virgin Islands is already estimated by the U.S. Possible FUTA credit reductions in 2022. states and the U.S.

Hawaii 89

Hawaii Nevada California New Jersey 89

KROST

APRIL 2, 2021

The winners’ applications will be reviewed and selected based on academic accomplishments, leadership, and accounting career goals. Applications are due April 16, 2021. Winners will be announced by July 31, 2021. Learn more and apply for the scholarship ». Learn more about the other organizations KROST supports ».

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Going Concern

APRIL 6, 2022

According to trusty ole Bob, starting pay in each of the 10 public accounting roles included in the 2022 salary guide is expected to rise by an average of between 1.4% Starting salaries in Tax and Audit are up ever-so-slightly from 2021: Tax. Senior tax accountant: 1.4%. Entry-level tax accountant: 2.6%.

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CTP

OCTOBER 26, 2021

However, in the world of tax accounting, goodwill refers to intangible assets that increase a company’s value. The post Tax Planning for a Business Sale: Factoring in Goodwill appeared first on certifiedtaxcoach. Tax Planning for a Business Sale: Factoring in Goodwill was first posted on October 26, 2021 at 9:00 am.

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ThomsonReuters

MARCH 22, 2021

The third early release draft of Form W-4P notes that its purpose is to provide instructions for an optional computational bridge between the 2021 or earlier Forms W-4P and 2022 and later Forms W-4P. The IRS notes that it has not yet updated these FAQs for the American Rescue Plan Act (ARPA), which was signed into law on March 11, 2021.

payroll 52

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inDinero Tax Tips

MARCH 29, 2021

Sometimes, just for fun, we tax accountants love to quiz each other—and today you get a peek into our legendary sense of humor! The answer—both of these tax code sections might save you some serious cash if you’re planning to sell your C-corp stock. Patty pockets $5M less her $100k tax basis. The gist of section 1202.

Tax 59

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CPA Practice

JUNE 21, 2023

Shirley is a certified Scrum Product Owner and PMC, who loves to use stories to bridge knowledge gaps and to help firms re-imagine their tax practice management. She has been working for SafeSend since 2021 and has interacted with over 1,000 firms. Gail is a member of the AICPA’s PFS Credential Committee.

Tax 80

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Anders CPA

NOVEMBER 29, 2022

In order to collect and remit the retail delivery fee, businesses need to register for a Retail Delivery Fee account on the Colorado Revenue Online system. After registering for an account, retailers must file a Retail Delivery Fee Return on the same frequency as they file sales tax returns.

Retail 52

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CPA Practice

JULY 25, 2023

You can find articles from Randy in Accounting Today’s Voices column, the AICPA Tax Adviser, CPA Trendlines, Intuit Accountants and he is a regular presenter at conferences and training events hosted by national accounting associations, state CPA societies and other industry associations.

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CPA Practice

AUGUST 15, 2023

Jared is a popular speaker and advisor due to his expansive knowledge of current tax policies, cybersecurity, and industry trends. Ann Campbell , CPA CIA, joined Drake Software in 2021 as a Tax Software Trainer. Gail is a graduate of Indiana University where she earned a bachelor’s degree in journalism.

Tax 52

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Inform Accounting

JULY 14, 2023

Other payment plans Rather than paying under a formal agreement, taxpayers can pay an amount to their tax accounts when they have spare cash, and this has the potential to build up funds held by HMRC to pay the next tax payment when due.

Tax 52

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Going Concern

SEPTEMBER 22, 2023

A greater percentage of accountants are leaving the profession later in their careers now than in years past. About 82% of workers who exited accounting this year through Sept. 1 had at least six years’ experience, up from 77% and 71% in full years 2022 and 2021 respectively, Live Data said.

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Shay CPA

NOVEMBER 14, 2023

in 2021. You had one employee in 2020, grew to three employees in 2021, and had five full-time staff in 2022. If you start claiming the employment credit in 2023, your base-year employment number would be 3 (1 employee in 2020 + 3 in 2021 + 5 in 2022 = 9 / 3 years). Say you have a team of eight in 2023.

New York 52

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CPA Practice

AUGUST 18, 2023

Shirley is a certified Scrum Product Owner and PMC, who loves to use stories to bridge knowledge gaps and to help firms re-imagine their tax practice management. She has been working for SafeSend since 2021 and has interacted with over 1,000 firms. Gail is a member of the AICPA’s PFS Credential Committee.

Technology 52

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Going Concern

FEBRUARY 19, 2024

“ China Evergrande Never Got Auditor Warning Despite Big Debt Load ,” Wall Street Journal September 24, 2021 Closer to home, Deloitte is allegedly moving offices in Milwaukee. These red flags from an auditor show that it has doubts about the company’s ability to stay afloat for at least 12 months. and moving into the U.S.

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Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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xendoo

JANUARY 6, 2022

While the salary is subject to self-employment taxes, the distributions are exempt, which allows S-Corps to avoid double taxation. . It is always best to speak to a small business tax accountant. Pay Quarterly Estimated Taxes . January 18, 2022 (the final installment for 2021). April 18, 2022. June 15, 2022.

Tax 59

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inDinero Tax Tips

FEBRUARY 14, 2023

Because foreign tax credits for the tax imposed on the stock transfer date would usually not be available to nonresident aliens, the 83b can help foreign investors with plans to become resident aliens avoid double taxation. Fortunately, inDinero’s tax accountants are here to help you find the best options available.

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inDinero Tax Tips

FEBRUARY 14, 2023

Because foreign tax credits for the tax imposed on the stock transfer date would usually not be available to nonresident aliens, the 83b can help foreign investors with plans to become resident aliens avoid double taxation. Fortunately, inDinero’s tax accountants are here to help you find the best options available.

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inDinero Tax Tips

FEBRUARY 14, 2023

Because foreign tax credits for the tax imposed on the stock transfer date would usually not be available to nonresident aliens, the 83b can help foreign investors with plans to become resident aliens avoid double taxation. Fortunately, inDinero’s tax accountants are here to help you find the best options available.

tax preparation 52

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Accounting Insight

AUGUST 3, 2022

Added to this, at the end of 2021, only a quarter (25%) of accountancy practices reported they had the right technology to support their clients moving to MTD. At the end of 2021, nearly all British (80%) accountancy firms admitted they didn’t have regular conversations with clients about how best to move to MTD.

Account 81

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Going Concern

APRIL 11, 2022

Let’s take a look at how things have been going for the Internet’s most vexed tax accountants in the last 48 hours or so: #taxseason observations: 1. How do I pay my taxes? I’m sorry I haven’t given you any of my 2021 tax information. 17, might be just as crazy. How long will my refund take? TaxTwitter.

Tax 52

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Xero

OCTOBER 9, 2023

Step one: Connect your Xero HQ with your XPM or Xero Tax account. We know that this tool was causing some issues for practices that have been using XPM and imported their clients to Xero HQ before May 2021. There are two steps you need to take to access the single client record, depending on the size of your client list.

Tax 93

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LyfeAccounting

MARCH 19, 2021

Well in this post, we want to help eliminate all of the questions and confusion around: Where your tax refund is? Why are you may or may not be getting a tax refund in 2021? So if you haven’t received your tax refund in 2021 yet then we have about 5 steps that you can take to find out what’s going on.

Tax 98

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ThomsonReuters

JANUARY 18, 2024

Types of accountants and niche practice areas There are, of course, various types of accountant jobs and areas of specialty. Requirements to become a tax preparer Tax preparers, on the other hand, are often non-licensed professionals who typically focus on preparing, filing, or assisting with general tax forms.

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Baruch Lev

JULY 11, 2021

The Wall Street Journal reported (July 1, 2021) that the International Accounting Standards Board (IASB), the accounting body that sets the financial reporting rules of public companies in more than 140 jurisdictions ? but not in the U.S. — got a new chief: Mr. Andreas Barckow, who until now served in a similar role in Germany.

Account 40

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