Withum

DECEMBER 4, 2024

Therefore, if you are planning any type of real estate transaction, the time to pull the trigger is now! 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 105

Tax income tax Construction Non-Profits 105

CPA Practice

JULY 14, 2025

Patrick Hickman, CPA , joined the firm in 2023 following a decade in public accounting with other firms. His areas of tax expertise include partnerships, including allocations, tax planning and structuring. She is a member of the American and Pennsylvania Bar Associations. He graduated with a B.S.B.A He holds a B.S.

West Virginia 51

West Virginia Technology Pennsylvania accounting and finance 51

Withum

JUNE 18, 2025

In the competitive hospitality sector, achieving financial efficiency and effective tax planning is vital. Hotel ownership presents unique opportunities to enhance cash flow and minimize tax obligations, particularly through the implementation of cost segregation. million in first-year depreciation deductions and over $1.2

Hospitality 64

Hospitality Construction tax planning Tax 64

Withum

DECEMBER 11, 2024

Payroll tax offset: Beginning in 2016, qualified small businesses (defined as those with less than $5 million in gross receipts and those in their first 5 years of existence) can elect to use the R&D tax credit to offset their quarterly payroll taxes, which can provide a significant cash flow benefit.

E-commerce 52

E-commerce Tax payroll tax income tax 52

Accounting Today

JUNE 9, 2025

You go to the beauty portal, you go to the barbershop, they have more protection than a person who prepares tax returns. So it is safe to say that 70% of the people who prepare tax returns are not credentialed. That number has gone up in 2023, it was 880,000. All rights reserved. Youre counted in each category.

Washington 52

Washington New York Florida Tax 52

ThomsonReuters

NOVEMBER 19, 2024

In 2023, the industry reported US$23.9 According to the latest EY Tax and Finance Operations Survey , tax personnel currently spend nearly half of their time (45%) on routine compliance work, which includes data collection and cleansing, tax return compliance and related reconciliations.

Technology 59

Technology Tax tax return corporation tax 59

Accounting Today

JULY 10, 2025

Kim Brown and another individual ghost preparer prepared 22 false returns that caused the Treasury to issue $541,912 in false refunds. In 2022 and 2023, he and others operated a ghost prep business in three Augusta locations, including a church and Browns residence. All rights reserved.

Tax 75

Tax tax preparation income tax Technology 75

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

CPA Practice

JUNE 26, 2025

Recognizing the growing complexity of multi-state filings, international compliance risks, and exemption certificate management, Therabody turned to Avalara to solve its urgent need for automation to replace manual tax processes. jurisdictions.

Technology 75

Technology Tax South Dakota NetSuite 75

Going Concern

APRIL 11, 2025

News Tax firm owned by Anne Arundel lawyer found liable in unjust enrichment case [ Maryland Daily Record ] An accounting firm owned by Glen Frost, the founder of one of Anne Arundel Countys largest law firms, was found liable for unjust enrichment and ordered to pay more than $680,000 after a jury trial last month.

audit 52

audit CPA Iowa North Carolina 52

Accounting Today

JULY 2, 2025

United States of America had to be filed on June 25, 2025, because it was critically close to the two-year statute of limitations for a refund suit, given the IRSs refund claim denial date of June 26, 2023. Was This Convicted Tax Return Preparer Courageous or Foolish?" All rights reserved. Tips to prepare them.

North Carolina 59

North Carolina tax preparation Technology audit 59

CPA Practice

JUNE 23, 2025

Werfel took over as commissioner on March 14, 2023; that term ends on Nov. an Arkansas-based oil and gas company, which Democrats said offered non-existent “tribal tax credits.” representative for Missouri’s 7th congressional district from 2011 to 2023. 20, the day of Donald Trump’s presidential inauguration.

Missouri 93

Missouri Mississippi Technology payroll 93

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. or 39-year lives.

Real Estate 109

Real Estate tax planning Construction Tax 109

Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Postpone income until 2023 and accelerate deductions into 2022. Estate Tax Planning. million in 2023). The annual exclusion increases to $17,000 in 2023.

tax planning 98

tax planning Tax Construction income tax 98

CPA Practice

APRIL 19, 2023

According to Caseware’s 2023 State of Accounting Firms Trend Report , more than 90% of accountants and 95% of auditors find hiring skilled talent challenging. Everything was handled by a CPA, from collecting client documents to doing the work and delivering the tax return, financial statements or other work products.

Technology 123

Technology CPA tax return auditor 123

Cherry Bekaert

NOVEMBER 28, 2023

There are several key tax considerations and tactical approaches for businesses to address while closing out 2023 and moving into 2024. From leveraging tax incentives to optimizing deductions, this guide offers insights into tax planning to help businesses make informed decisions and set a solid foundation for the upcoming year.

tax planning 64

tax planning Tax income tax tax return 64

ThomsonReuters

NOVEMBER 9, 2023

Year-end strategy #3: Shift your value proposition to advisory By using technology to automate traditional tax compliance work, more and more accounting firms are engaging clients based on the value and experience they bring to the table.

tax planning 105

tax planning accounting firms Tax Technology 105

ThomsonReuters

JANUARY 4, 2024

But where do you begin building your tax planning strategy? Tax planning strategy #1: Utilize short-term staffing solutions As tax season begins, firms in need of a short-term boost in headcount should consider outsourcing services to increase workload capacity.

tax planning 78

tax planning Tax Technology tax return 78

CPA Practice

APRIL 17, 2023

But even basic tax planning can make a big difference in reducing future tax liability. This makes having a reliable tax planning system that can look forward several years a valuable addition to a practice. Multiple responses were allowed, so totals equal more than 100%: Facebook 39.7% LinkedIn 33.9% Twitter 12.5%

quickbooks 130

quickbooks payroll Technology tax preparation 130

SkagitCountyTaxServices

MARCH 17, 2023

While we’ll probably file an extension for you if you’re in this category and just now looking at your taxes, you’ll want to dial in VERY soon. But also, there’s little more than a month before personal tax returns are due. As of 2023, it’s scheduled to reduce every year. Check with us.

tax planning 52

tax planning business tax Tax tax return 52

Ryan Lazanis

NOVEMBER 9, 2022

This is my complete guide to accounting automation in 2023. If you’re looking to automate accounting processes in 2023, here are some steps you can take: 1) General Ledger Accounting Software. Here’s a good video of how MindBridge works in action: 15) Tax Planning. Save time by automating your accounting processes.

Technology 98

Technology accountant accounted Account 98

Anders CPA

NOVEMBER 21, 2023

Year-end is approaching fast, which means this is the perfect time for businesses to make some final adjustments to their tax planning strategies. Consulting with a trusted tax professional to determine your eligibility for certain deductible activities is the best way to maximize your tax savings.

tax planning 64

tax planning Tax financial statements tax return 64

ThomsonReuters

JANUARY 21, 2022

It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. March 15, 2022 : Partnership and S corporation returns for calendar year 2021.

Tax 111

Tax tax return corporation tax tax planning 111

CPA Practice

DECEMBER 21, 2023

To help companies and individual taxpayers understand their planning options, Grant Thornton LLP, one of America’s largest professional services firms, has released 2024 tax-planning guides for businesses and individuals. Prepare for public stock buyback tax. Tax-planning considerations for individuals 1.

tax planning 59

tax planning Tax Real Estate accounting and finance 59

CPA Practice

DECEMBER 12, 2023

However, when they combine QuickBooks with Intuit ProConnect Tax , they’ll get a more powerful way to manage their clients’ information. Known as “Books to Tax,” QuickBooks flows directly into ProConnect Tax to auto-populate a client’s tax return, streamlining the process and avoiding manual data entry.

quickbooks 110

quickbooks Tax tax return Technology 110

CPA Practice

APRIL 17, 2023

But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies. Still, the failure to recognize the importance of proper tax planning adds up. Distributed by Tribune Content Agency LLC

Tax 104

Tax tax planning cpas CPA 104

Cherry Bekaert

APRIL 18, 2024

Each year, as the tax filing deadline nears, it is important to identify your projected tax payments and when to pay them [LJ1] so you can avoid submitting inaccurate tax returns. Contact Us The post IRS Estimated Tax Payment and Withholding Guide: Timing and Cash Flow Planning appeared first on Cherry Bekaert.

Tax 94

Tax tax return tax planning 94

CPA Practice

MARCH 21, 2024

At the end of 2023, the U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership. By Julie M.

Tax 122

Tax Delaware tax return accounting and finance 122

CPA Practice

MAY 3, 2024

The new GenAI search functionality queries trusted sources within Wolters Kluwer content helping customers when preparing tax returns and identifying tax planning opportunities. The company addresses risk management and issue remediation during design, development and after deployment.

accounting system 102

accounting system Tax accountant accounted 102

ThomsonReuters

NOVEMBER 21, 2023

Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning. This goes into effect on January 1, 2024.

tax planning 52

tax planning Tax payroll tax Education 52

CPA Practice

OCTOBER 17, 2023

In 2023, an average of almost 67 million Americans per month will receive a Social Security benefit totaling about $1.4 For every $1,640 earned in 2023, one credit will be granted up to $6,560. Contributions to Social Security are not tax-exempt or tax-deductible on annual tax returns. million are survivors.

Tax 115

Tax accountant accounted Account 115

CPA Practice

JULY 27, 2023

In addition to a section devoted to advisory on the Intuit Tax Pro Center, many practitioners are now creating custom tax plans with tax strategies using Intuit Tax Advisor , a cloud-based program that integrates with ProConnect Tax and Lacerte. It’s all about the value.”

CPA 97

CPA Tax tax planning Start-ups 97

SkagitCountyTaxServices

DECEMBER 7, 2023

This is something we specialize in so be sure to get on our calendar to set up your EOY tax planning appointment: app.acuityscheduling.com/schedule.php?owner=19530343 owner=19530343 Making time to look at numbers before January 1 allows us to help you make last-minute adjustments so your tax return works in your favor.

payroll 95

payroll tax return payroll tax Tax 95

Withum

NOVEMBER 17, 2022

Resident Clients: Resident partners/shareholders participating in a PTET (elective or mandatory) may not receive a credit for taxes paid to another state on their resident state income tax return. Failing to prepare for a tax examination at the outset of a move jeopardizes the ability to ultimately prevail at the audit.

tax planning 52

tax planning Tax income tax New York 52

Ronika Khanna CPA,CA

DECEMBER 2, 2022

Note that the T5 slips for calendar year (ended December 31st) 2022 are due by February 28, 2023. Alternatively, some shareholders also take dividends in addition to a salary depending on their tax planning strategy. A copy should be given to the recipient(s) of the dividends to reflect on their personal tax return.

tax return 98

tax return Non-Profits income tax Tax 98

Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. income tax return. tax return. tax liability.

Tax 104

Tax income tax Non-Profits corporation tax 104

Withum

NOVEMBER 17, 2022

In that circumstance, it could be beneficial to combine or “bunch” 2022 and 2023 charitable contributions into one year (2022), itemize deductions on their 2022 tax returns, and take the standard deduction on the 2023 tax return. 2022 Year-End Tax Planning Resources.

tax planning 52

tax planning tax return income tax Tax 52