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IRS to Host Virtual Focus Groups on the Business Tax Account Online Tool

CPA Practice

If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We The agency said in an email on Nov.

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One Quarter of Firms Say They’re Offshoring, Another 12 Percent Plan to Start

Going Concern

Anyway, the AICPA numbers: Of the more than 1,100 firms that participated in the AICPA’s 2023 National Management of an Accounting Practice (MAP) survey, about 30% said they outsourced domestically and 25% said they outsourced to offshore workers. Meanwhile, the average for a tax associate in Atlanta is $61,866 a year.

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Citing Rising Costs, Accounting Firms Plan to Increase Fees in 2025

Going Concern

90% plan to increase fees for individual tax returns, 87% plan to increase fees for business tax returns, 85% plan to increase fees for bookkeeping and accounting, and 76% plan to increase fees for CFO and controller services. 57% of accounting firms plan to increase fees across all services in 2025. Or at least half-in.

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Year-End Tax Strategies for Businesses

Withum

Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting. The IRS released Notice 2023-63, as modified by Notice 2024-12, to provide additional guidance surrounding section 174 expenditures. It is effective for tax years ending after September 8, 2023.

Tax
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The CPA Firm Growth Strategy: From Compliance to Consulting

Speaker: Rita Keller - President of Keller Advisors, LLC

You've worked diligently and have built a glowing reputation grounded in your excellent skills in tax, accounting, and auditing. You're known as the “go-to” person when a client is faced with tax and financial decisions. You have a very successful firm -- but that’s not enough.

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An Accountant’s Weekend Reading | 12.27.24

Going Concern

During mid-2023, there were also around 180 layoffs. Grant Thornton: Rounds of layoffs of 300 in May 2023, 200 in November 2023, and 350 in May 2024. Tax professionals nestled all snug in their chairs; While visions of timely refunds danced through the air. Whether all of this is related to the PE investment is uncertain.

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IRS Highlights New Payment Options Within Business Tax Account Tool

CPA Practice

When fully developed, business tax account (BTA) will allow many types of business taxpayers to check their tax history, make payments, view notices, authorize powers of attorney, and conduct other business with the IRS. A Schedule K-1 on file (for partners, from 2012-2023; for shareholders, from 2006-2023).