Going Concern

NOVEMBER 22, 2024

Long Reads The rehabilitation of KPMG [ Financial Times ] At Legal & General’s annual meeting in May 2022, a shareholder took to the floor to air some grievances — not about the performance of the FTSE 100 insurer but that of KPMG, its auditor. million from customers and failed to report the income on tax returns.

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auditor audit accounting and finance financial statements 52

Accounting Today

JUNE 26, 2025

Fulton, Agoura Hills, indefinite from March 18, 2025; CPA Mark L. 1, 2024; and CPA Walter W. Tuggle, Duluth, indefinite from March 18, 2025; CPA William B. Tomasello, Forest Park, and CPA Victor C. Indiana: CPA Michael M. Missouri: CPA William R. New York: CPA Kimberly Johnson, Bronx, indefinite from Nov.

Tax 71

Tax Technology tax preparation CPA 71

Going Concern

JANUARY 13, 2025

There is enough data to show most WFH people are not as productive unless they have ownership in the business because quite frankly [link] — Eric Pierre, CPA (@yourfavecpa) January 12, 2025 Venture capitalists are excited about accounting firms according to WSJ : Venture capitalists are known for betting on risky, moonshot technology.

accounting firms 52

accounting firms accounted Account accountant 52

Accounting Today

JUNE 23, 2025

You or at what point did you know you wanted to be managing partner of a CPA firm? We did tax returns by hand. Theres vision for you as an individual and then theres vision for your firm. But lets talk a little bit about the vision for yourself. Well, first of all, I think the visions are one and the same.

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accounting firms Technology accounting and finance audit 95

Accounting Today

JULY 21, 2025

Union City, Georgia: Truck driver Dantavious Jackson, 39, who operated a ghost tax prep business, has pleaded guilty to making claims for refunds of false pandemic-related employment tax credits. On the side, he also prepared taxes for a fee. Between June 2022 and August 2023, he defrauded the U.S. income tax return.

Rhode Island 89

Rhode Island Tax tax preparation Technology 89

Shay CPA

JULY 11, 2025

Changes to R&D expenses (Section 174) Under the Tax Cuts & Jobs Act (TCJA), businesses were required to start amortizing their R&D expenses in 2022. The Act extends a provision that will let you amend returns for tax years 2022–2024. The Act does away with that amortization requirement.

accounting and finance 52

accounting and finance CPA Tax Finance 52

SkagitCountyTaxServices

JULY 16, 2025

based research gets immediate expensing, retroactive to 2022 (amendments allowed through 2024). Get your financial records in order: you’ll need up-to-date bank statements, tax returns, profit & loss statements, balance sheets, and the like. Interest goes on Schedule C or business tax returns as a deductible expense.

tax return 82

tax return accounting and finance Tax CPA 82

RogerRossmeisl

APRIL 24, 2023

If so, it’s important to determine whether you’re required to file a 2022 gift tax return. Filing requirements The annual gift tax exclusion has increased in 2023 to $17,000 but was $16,000 for 2022. The post Gift Tax Return Basics appeared first on Roger Rossmeisl, CPA.

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tax return Tax CPA 246

RogerRossmeisl

FEBRUARY 23, 2022

If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. The annual gift tax exclusion has increased in 2022 to $16,000 but was $15,000 for 2021. The post Are You Ready for the 2021 Gift Tax Return Deadline?

tax return 245

tax return Tax CPA 245

RogerRossmeisl

MAY 15, 2023

If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions may still crop up about the return. At a minimum, keep tax records related to your return for as long as the IRS can audit your return or assess additional taxes.

tax return 241

tax return Tax audit CPA 241

RogerRossmeisl

MAY 1, 2022

In Fact Sheet 2022-25, the IRS has provided information about how taxpayers should handle non-tax and tax-related identity theft. When a taxpayer believes their personal information is being used to file fraudulent tax returns, they should submit a Form 14039, Identity Theft Affidavit, to the IRS.

tax return 246

tax return Tax CPA 246

RogerRossmeisl

APRIL 21, 2022

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. April 18 If you’re a calendar-year corporation, file a 2021 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. See June 15.

Tax 246

Tax income tax tax return CPA 246

RogerRossmeisl

JANUARY 11, 2022

If you’re like most people, you’re probably more concerned about your 2021 tax bill right now than you are about your 2022 tax situation. That’s understandable because your 2021 individual tax return is generally due to be filed by April 18 (unless you file an extension). appeared first on Roger Rossmeisl, CPA.

Tax 246

Tax tax return CPA 246

RogerRossmeisl

APRIL 25, 2023

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax. It’s a good idea to keep the actual returns indefinitely.

tax return 147

tax return Tax audit CPA 147

RogerRossmeisl

FEBRUARY 20, 2023

Many people are more concerned about their 2022 tax bills right now than they are about their 2023 tax situations. That’s understandable because your 2022 individual tax return is due to be filed in 10 weeks (unless you file an extension). I didn’t qualify to itemize deductions on my last tax return.

Tax 245

Tax tax return CPA 245

RogerRossmeisl

APRIL 24, 2023

April 18 If you’re a calendar-year corporation, file a 2022 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due. For corporations pay the first installment of 2023 estimated income taxes.

Tax 239

Tax income tax tax return CPA 239

RogerRossmeisl

JUNE 3, 2021

Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return was due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year). Your 2021 return will be due in April of 2022.

Tax 246

Tax tax return CPA 246

RogerRossmeisl

DECEMBER 10, 2022

Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive a charitable donation write-off, you must itemize deductions on your tax return. Instead, sell the shares and claim the resulting capital loss on your tax return.

tax return 245

tax return CPA Tax accounted 245

RogerRossmeisl

FEBRUARY 26, 2023

If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. For 2022, if you’re a married joint. The post There Still May be Time to Make an IRA Contribution for Last Year appeared first on Roger Rossmeisl, CPA.

tax return 241

tax return CPA Tax 241

RogerRossmeisl

MAY 16, 2023

As appearing in IRS Tax Tip 2022-97 Many people take up gig work on a part-time or full-time basis, often through a digital platform like an app or website. The reporting requirement for issuance of Form 1099-K changed for payments received in 2022 to totals exceeding $600, regardless of the total number of transactions.

Tax 241

Tax tax return CPA 241

RogerRossmeisl

MAY 15, 2023

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. The post Tax News for Investors and Users of Cryptocurrency appeared first on Roger Rossmeisl, CPA. And you may soon notice a new form reporting requirements for digital assets. Transactions are reported.

Tax 234

Tax tax return CPA Sales 234

RogerRossmeisl

JULY 17, 2022

It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Fortunately, if you’re eligible to deduct driving costs, the IRS just increased the standard amounts for the second half of 2022 due to the high price of gas. appeared first on Roger Rossmeisl, CPA.

tax return 246

tax return CPA Tax 246

RogerRossmeisl

DECEMBER 14, 2021

Certain tax deductions are claimed for the year of payment, such as the mortgage interest deduction. So, if you make your January 2022 payment in December, you can deduct the interest portion on your 2021 tax return (assuming you itemize). Accelerate deductions/defer income.

Tax 246

Tax tax return CPA tax planning 246

RogerRossmeisl

NOVEMBER 29, 2021

An account for health expenses A pre-tax contribution of $2,750 to a health FSA is permitted in 2021. This amount is increasing to $2,850 for 2022. You save taxes in these accounts because you use pre-tax dollars to pay for medical expenses that might not be deductible. Additionally, the amounts that.

accounted 242

accounted Account accountant tax return 242

CPA Practice

FEBRUARY 24, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb.

tax return 130

tax return Tax income tax 130

CPA Practice

JANUARY 24, 2023

The IRS sent out a reminder on the second day of the 2023 filing season that all digital asset-related income must be reported when taxpayers file their 2022 federal income tax returns. A question regarding digital assets must be answered by all taxpayers on their 2022 income tax returns.

tax return 119

tax return income tax Tax Account 119

CPA Practice

JANUARY 31, 2022

The filing deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers. holidays impact tax deadlines for everyone in the same way federal holidays do. By law, Washington, D.C.,

tax return 75

tax return Tax Washington 75

CPA Practice

FEBRUARY 20, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb.

tax return 98

tax return Tax income tax 98

CPA Practice

OCTOBER 17, 2023

In a Direct File report the IRS submitted to Congress on May 16, as required by the Inflation Reduction Act, 72% of American taxpayers surveyed said they were “very interested” in or “somewhat interested” in using a government tool to electronically file their tax returns.

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tax return Tax South Dakota tax preparation 116

CPA Practice

FEBRUARY 3, 2023

The IRS began accepting tax returns in late January, and if you were hoping for a bigger tax refund—or at least a smaller tax bill—in the new year, some tax law changes impacting the upcoming 2022 tax year filing season may dampen your spirits. Find an Illinois CPA at www.icpas.org/findacpa.

Tax 119

Tax Illinois tax return cpas 119

RogerRossmeisl

FEBRUARY 20, 2023

The IRS announced it opened the 2023 individual income tax return filing season on January 23. That’s when the agency began accepting and processing 2022 tax year returns. The reason is you can potentially protect yourself from tax identity theft.

Tax 130

Tax tax return income tax CPA 130

RogerRossmeisl

NOVEMBER 25, 2023

As reported via Tax Tip 2022-122 on 8/10/2022 There are a few things business owners need to do before they close their business. Of course, they need to fulfill their federal tax responsibilities. Business owners must take these steps when closing a business: File a final tax return and related forms.

Tax 130

Tax tax return CPA business tax 130

CPA Practice

JUNE 7, 2024

This week at the ENGAGE conference in Las Vegas, topline results of the Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey were revealed during the AICPA Town Hall. The two largest CPA firm categories (11 to 20 professionals and 21 or more professionals) listed retaining qualified staff as their No.

cpa firm 104

cpa firm CPA tax return accounting firms 104

TaxConnex

NOVEMBER 29, 2022

more than one in four (26.7%) top finance professionals reported seeing an increase in state sales tax audits in the past two years. Almost half (48.5%) of respondents expect sales tax audits to become more frequent in 2022-23, and nearly one in five (18.5%) cited an audit as one of their chief worries for this year.

audit 262

audit auditor general ledger Non-Profits 262

CPA Practice

APRIL 9, 2024

receiving Bachelor’s and Master’s degrees in accounting has dropped 17% over the past six years to roughly 66,000 in 2022 compared to 80,000 in 2016, according to the AICPA 2023 Trends Report. 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

cpa firm CPA Technology Legal 122

TaxConnex

FEBRUARY 27, 2024

in 2022, up 1.3% You have two initial ways to address your need for sales tax expertise: Your outside tax accountant or bringing tax expertise in-house. With the former, you risk that a professional versed in the tax code of the U.S. There were about 1.65 million accountants and auditors in the U.S.

Sales 264

Sales Tax accounted Account 264

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

tax preparation 132

tax preparation Tax tax return income tax 132