CPA Practice

OCTOBER 17, 2024

between 2021 and 2022, after steady decreases of 1-3% since 2015-16. The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8%

Technology 124

Technology Account accounted accountant 124

Withum

DECEMBER 9, 2024

This article has been refreshed to include the latest announcement from Intuit about the discontinuation of support and security updates for QuickBooks Desktop 2022 after May 31, 2025, in addition to the previously announced changes affecting QuickBooks Desktop subscriptions that ended September 30, 2024.

quickbooks 59

quickbooks NetSuite accounting system accounts payable 59

TaxConnex

FEBRUARY 13, 2025

million in gross revenue for the Nation between 2015 and about 2022. The Navajo Nation has also seen a detailed study of the junk food tax it enacted 11 years ago; a 2% tax was levied on foods and beverages with minimal-to-no nutritional value and the 6% tax was removed on water, fruits, and vegetables.

Sales 213

Sales Tax Wisconsin Oklahoma 213

CPA Practice

NOVEMBER 4, 2024

Big Four hired anybody that could fog up a mirror in 2022/2023 and they’re cutting back, almost exclusively in consulting.” It elicited the following response, “The shortage has nothing to do with how many employees an individual company can bear.

audit 64

audit accounting firms Tax accountant 64

Withum

FEBRUARY 17, 2025

of 2022 introduces several significant changes aimed at enhancing retirement savings for American workers. of 2022 represents a proactive step towards improving retirement security for American workers. The SECURE Act 2.0 Key Takeaways Section 101 of the SECURE Act 2.0

payroll 52

payroll 52

CPA Practice

NOVEMBER 26, 2024

Implementation of the $600 reporting threshold was delayed in December 2022 and again last November by the IRS to try to alleviate confusion around the new reporting rules. According to the new rules, which removed the transaction quantity requirement, a single transaction on a payment network of just $600 can trigger a 1099-K.

E-commerce 135

E-commerce income tax Tax 135

TaxConnex

JANUARY 2, 2025

Retail delivery fees started in Colorado in 2022, with a fee ( now 29 cents ) on every retail delivery made by motor vehicle to a destination in the state. More states are, however, clearly instituting or trying to institute taxes on digital goods and services including advertising.

Sales 147

Sales Tax South Dakota North Dakota 147

Accounting Insight

OCTOBER 24, 2024

Other accolades, such as being named Xero App Partner of the Year (2023) and receiving the best use of technology award at the Credit Awards (2022), further highlight Chaser’s impact on the credit management industry.

Technology 64

Technology Account accounted accountant 64

TaxConnex

NOVEMBER 21, 2024

over 2022 to a record $964.4 million in 2022. over 2022 while in-store sales were up just 2.2%. million consumers shopped during last Cyber Week, surpassing 2022’s record number. Cyber Week drove $38 billion in online U.S. spending, up 7.8% year over year, and U.S. retail sales during the 2023 holiday season grew 3.8%

Sales 147

Sales Retail Tax online accounting 147

CPA Practice

OCTOBER 29, 2024

currency terms over 2022’s result of $50.3 The slower growth in Big Four accounting firm revenues in 2024 is primarily due to a slowdown in consulting work over the past 12 to 18 months, which has resulted in layoffs at each firm in several locations, including in the U.S. Last year, PwC’s revenue soared to $53.1

Legal 52

Legal Government auditor accounting firms 52

Xero

FEBRUARY 10, 2025

The older 2022 version has also been removed, but the 2023 version will still be available. For US accountants, a key compliance update has been implemented to the Schedule C report. You’ll now be able to access the updated 2024 Schedule C template.

Tax 95

Tax Sales Government accountant 95

ThomsonReuters

NOVEMBER 15, 2024

Initially constrained by low-dollar compliance work and resource limitations, the firm embraced advisory services in 2022 after attending a pivotal Partner Summit.

Account 52

Account accounted accountant Texas 52

Shay CPA

FEBRUARY 19, 2025

As of 2022, all U.S. Accrual accounting can be somewhat complicated, especially for software as a service (SaaS) companies, so we have a guide to help you better understand it. Theres another similar component of GAAP thats relatively new and applies to many startups: lease accounting.

audit 52

audit auditor accrual accounting accounting principles 52

Withum

JULY 4, 2025

This would provide that an amended return be filed for 2022, and 2023. Election for Retroactive Application By Certain Small Businesses: Small Business Taxpayers can elect to apply the ability to immediately expense Section 174 expenditures starting for taxable years after December 31, 2021, no later than 1 year after the date of enactment.

income tax 119

income tax Tax Kentucky Agriculture 119

Withum

JANUARY 21, 2025

Immediate and heavy financial need would include any of the following listed below: Medical care expenses for the employee, the employees spouse, dependents or beneficiary Tuition and related educational fees and room and board expenses for the next 12 months of postsecondary education for the employee, the employees spouse, dependents or beneficiary (..)

income tax 52

income tax Education Tax accountant 52

CPA Practice

OCTOBER 29, 2024

The IRS has used funding it received from 2022’s Inflation Reduction Act to bolster its enforcement of wealthy tax cheats, including high-income and high-wealth individuals, partnerships, and large corporations—a group that has seen sharp drops in audit rates during the past decade.

income tax 115

income tax audit tax return Real Estate 115

Withum

FEBRUARY 3, 2025

” The rules and limitations have evolved over the years, and in 2017, the law changed again, which allowed for a 100% deduction for qualified assets through the end of 2022. As part of the change in law, bonus depreciation is scheduled to be phased down to zero in 20% increments from 2023 through the end of 2026.

tax planning 52

tax planning Tax Construction 52

CPA Practice

NOVEMBER 11, 2024

From 2017 to 2022, Navy Federal charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases, even when their accounts showed sufficient funds at the time of the transactions. In 2022, the CFPB also issued a circular stating that unanticipated overdraft fees are likely illegal. Read the CFPB order.

Virginia 105

Virginia accountant accounted Account 105

CPA Practice

OCTOBER 14, 2024

See the 2023 Honorees See the 2022 Honorees See the 2021 Honorees See the 2020 Honorees See the 2019 Honorees See the 2018 Honorees See the 2017 Honorees See the 2016 Honorees See the 2015 Honorees See the 2014 Honorees See the 2013 Honorees

Education 128

Education tax preparation public accounting Gaming 128

CPA Practice

NOVEMBER 19, 2024

Doeren Mayhew entered the West Michigan market in 2022 with its acquisition of Beene Garter LLP. Doeren Mayhew now operates in an alternative practice structure: Doeren Mayhew Assurance will provide attest services as a licensed CPA firm, while Doeren Mayhew Advisors LLC will provide business advisory, tax, and non-attest services.

Michigan 52

Michigan cpa firm cpas CPA 52

Going Concern

JULY 11, 2025

Act of 2022 (Division T of the Consolidated Appropriations Act, 2023, P.L. Tax AICPA: Guidance needed on catch-up contributions under Roth mandate [ Journal of Accountancy ] The AICPA requested additional guidance from Treasury and the IRS on catch-up contributions that are designated as Roth contributions in Section 603 of the SECURE 2.0

cpa firm 59

cpa firm cpas CPA auditor 59

Withum

DECEMBER 4, 2024

Bonus Depreciation For property placed in service during 2024, the bonus depreciation percentage has decreased from 100% (in 2022) to 60%. Forms 720 and 7208 due for taxable years ending after December 31, 2022, and on or before June 30, 2024, must be filed by the third quarter due date for Form 720, which is October 31, 2024.

Tax 105

Tax income tax Construction Non-Profits 105

Going Concern

NOVEMBER 21, 2024

2022 was the lowest since 2006 at just 67,336. 105 is 0.16% of the 67,336 people who sat for the CPA exam in 2022. ELE is one of several initiatives The Powers That Be have launched in response to the decline in CPA candidates that’s been underway since numbers peaked in 2016. IDK, this is smelling a little desperate no?

CPA 59

CPA Education New Jersey Non-Profits 59

CPA Practice

DECEMBER 9, 2024

Established in November 2022 and registered with the U.S. Department of Labor and in some states, the Registered Apprenticeship forFinance Business Partner program, is the nations first-of-its-type program for accounting and finance.

Maryland 52

Maryland accounting and finance Finance CPA 52

Going Concern

MARCH 19, 2025

And KPMG UK really stepped in it [ PDF of the PCAOB order ]: For 13 audits across seven different issuers with fiscal years ending in 2019 through 2022, KPMG UK filed Form APs that failed to accurately report information concerning other accounting firm participants.

auditor 52

auditor audit accounting firms public accounting 52

CPA Practice

MAY 29, 2025

The Washington-based ERP provider said on May 29 it has signed an agreement to be acquired by Vista Equity Partners, the global investment firm that purchased Avalara in 2022.

Washington 59

Washington Account accountant accounted 59

CPA Practice

DECEMBER 10, 2024

Additionally, median CAS net client fees per professional (NCFPP) rose to $156,250 for all respondents, an increase of 29% over the 2022 survey. Respondents projected 15% continued growth in the current year and an impressive 99% projected median growth for their firms over the next three years.

Non-Profits 111

Non-Profits CPA public accounting Tax 111

CPA Practice

NOVEMBER 20, 2024

Outsourced accounting resources are becoming more popular Dating back to 2022, Middle Market Survey participants responded overwhelmingly that they had not considered an outsourced accounting solution. Data collection in 2024 showed that 45% now utilize outsourced resources or a combination of internal and outsourced accounting function.

Healthcare 111

Healthcare Construction accountant accounted 111

Withum

JANUARY 27, 2025

SAB 121 was issued by the SEC on March 31, 2022. On January 23, 2025, the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 122 officially rescinding SAB 121.

international accounting standards 52

international accounting standards accounting standards financial accounting accountant 52

Withum

JUNE 12, 2025

The new rules only apply prospectively, meaning domestic R&E expenses incurred during the 2022 through 2024 tax years remain subject to the current 5/15-year amortization requirement. Foreign R&E expenses will continue to be amortized over 15 years as currently required under TCJA rules.

Tax 72

Tax payroll tax Healthcare Washington 72