CPA Practice

OCTOBER 14, 2024

Nominations for the 2024 Awards are now open. Once selected, award winners are asked to identify the key individuals who have influenced them in their careers, where they see the profession heading, and how others can prepare for these changes. == Nominate a professional for the 2024 4 0 Under 40 or 20 Under 40 award.

Education 128

Education tax preparation public accounting Gaming 128

CPA Practice

DECEMBER 6, 2024

Brian Tankersley, CPA, and Randy Johnston provide a recap of the 2024 CCH Connections user conference. And in this session, were going to cover the CCH user connection conference of 2024 now Im fortunate enough I have attended every single cch user conference, and this years version, I think, was one of the better ones Ive been to in a while.

Technology 98

Technology Account accountant accounted 98

CPA Practice

NOVEMBER 7, 2024

7 released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report. During fiscal year 2024, the IRS collected more than $5.1 The IRS on Nov. An unmodified opinion means the financial statements are presented fairly, in all material respects, in accordance with U.S.

accounting principles 115

accounting principles financial statements Government Tax 115

RogerRossmeisl

JUNE 1, 2025

Even after your 2024 federal return is submitted, a few nagging questions often remain. The post Still Have Tax Questions After Filing Your 2024 Return? Below are quick answers to five of the most common questions we hear each spring. When will my refund show up? Use the IRSs Wheres My Refund? tracker atIRS.gov.

Tax 162

Tax audit CPA 162

RogerRossmeisl

DECEMBER 15, 2024

In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for retirement plans, as well as other qualified plans, for 2025. 401(k) plans The 2025 contribution limit for employees who participate in 401(k) plans will increase to $23,500 (up from $23,000 in 2024).

CPA 263

CPA Government business tax Tax 263

RogerRossmeisl

DECEMBER 29, 2024

Lets take a look at what you can deduct in 2024. Youre not alone if youre confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Current law The Tax Cuts and Jobs Act eliminated deductions for most business-related entertainment expenses.

Entertainment 263

Entertainment Gaming CPA Tax 263

CPA Practice

NOVEMBER 8, 2024

Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. The tech and accounting professionals that developed the TaxGPT co-pilot system says it can boost productivity by 10x.

Technology 115

Technology Account accountant accounted 115

CPA Practice

NOVEMBER 26, 2024

Brian Tankersley, CPA, and Randy Johnston review HubSync , an all-in-one, modern client platform which automates the tax return and other key processes and provides a single gateway to drive “Best-in-Class” collaboration between professionals and their clients.

Technology 111

Technology Account accountant accounted 111

RogerRossmeisl

OCTOBER 27, 2024

The exclusion amount is adjusted for inflation annually, and in 2024 is $18,000. Taxpayers can transfer substantial amounts, free of gift taxes, to their children or other recipients each year through the proper use of the annual exclusion. It covers gifts that an individual.

Tax 264

Tax tax return CPA Finance 264

RogerRossmeisl

APRIL 25, 2025

If you made significant gifts to your children, grandchildren or other heirs last year, its important to determine whether youre required to file a 2024 gift tax return. Requirements to file The annual gift tax exclusion was $18,000 in 2024 (increased to $19,000 in 2025).

tax return 165

tax return Tax CPA 165

Withum

DECEMBER 18, 2024

On Thursday, December 12, 2024, the Internal Revenue Service (IRS) released a fact sheet addressing Form 8275 and the disclosure of tax positions related to IRC section 280E. The IRS Fact Sheet 2024-32 includes guidance for properly filing Form 8275 disclosures. Contact Us Have questions and need answers?

tax return 105

tax return Legal Tax 105

CPA Practice

NOVEMBER 26, 2024

The agency said last November that it was planning for a reporting threshold of $5,000 for tax year 2024 before phasing in the $600 reporting threshold. The IRS announced on Nov. As a result, reporting will not be required unless the taxpayer receives over $20,000 and has more than 200 transactions in 2023.”

E-commerce 135

E-commerce income tax Tax 135

CPA Practice

NOVEMBER 15, 2024

Brian Tankersley, CPA, and Randy Johnston review Soraban , an AI-powered system that revolutionizes your practice’s client data intake process by automating and simplifying every step.

Technology 111

Technology Account accountant accounted 111

RogerRossmeisl

DECEMBER 27, 2024

This legal back-and-forth began with a Texas federal district court’s injunction on December 3, The post BOI Reporting Requirements Paused Again as of 12/27/2024 appeared first on Roger Rossmeisl, CPA.

Texas 246

Texas CPA Legal cpa firm 246

RogerRossmeisl

OCTOBER 13, 2024

According to the Association of Certified Fraud Examiners’ (ACFE’s) Occupational Fraud 2024: A Report to the Nations, owner/executive fraud makes up only 19% of all cases but has a median loss of $459,000 per incident. But the research is clear: In organizations where executives turn to fraud, the results are very costly.

CPA 264

CPA 264

TaxConnex

NOVEMBER 5, 2024

Did your e-commerce sales increase in 2024? The results of our 2024 survey on managing sales tax also backs up the questions’ validity. Have you added remote employees recently? Are you comfortable with your sales tax nexus footprint? Have you completed a taxability review of your products on a state-by-state level?

Sales 203

Sales Tax E-commerce audit 203

CPA Practice

NOVEMBER 16, 2024

The Internal Revenue Service reminds individual retirement arrangement (IRA) owners age 70½ and older that they can make up to $105,000 in tax-free charitable donations during 2024 through qualified charitable distributions. Reporting and documenting QCDs For 2024, QCDs should be reported on the 2024 tax return.

tax return 114

tax return income tax Tax 114

Withum

JULY 4, 2025

Business Tax Provisions Business Tax Provision Final Legislation Research and Experimental Expenditures Provides for immediate expensing of domestic research or experimental (“R&E”) expenditures for R&E amounts paid or incurred in taxable years beginning after December 31, 2024.

income tax 119

income tax Tax Kentucky Agriculture 119

Going Concern

JANUARY 9, 2025

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below.

audit 124

audit auditor Education accounting firms 124

ThomsonReuters

NOVEMBER 7, 2024

← Blog home As the global business environment continues to evolve, the 2024 State of Corporate ESG report by Thomson Reuters Institute sheds light on the shifting dynamics of Environmental, Social, and Governance (ESG) initiatives. Highlights: 82% of leaders say ESG is crucial for corporate success in 2024, beyond mere compliance.

Technology 97

Technology Manufacturing financial statements Tax 97

GrowthForceBlog

OCTOBER 15, 2024

7 min read October 15th, 2024 All business expenses represent money out the door, but the way you categorize these expenses has greater implications than reduced net income. Key Takeaways How to Calculate and Identify a Capital Expenditure: CapEx = (Prior Period PP&E - Current Period PP&E) + Current Period Depreciation.

bookkeeping 109

bookkeeping Account accountant accounted 109

CPA Practice

NOVEMBER 22, 2024

CohnReznick’s McCafferty selected to MACPA’s 2024 Women to Watch CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, announced that Molly McCafferty, Partner, Assurance, has been selected as one of four 2024 Women to Watch by the Maryland Association of CPA’s (MACPA) Foundation.

Real Estate 111

Real Estate Michigan cpas audit 111

ThomsonReuters

NOVEMBER 8, 2024

According to the Thomson Reuters 2024 State of Corporate ESG Report , 77% of survey respondents said they believe AI will have a high or transformational impact on their work over the next five years. Graphic from the 2024 State of Corporate ESG Report.

Technology 118

Technology accounting and finance Government Finance 118

CPA Practice

NOVEMBER 1, 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review Syft Analytics , which lets professionals generate everything from reports through integrated forecasts and consolidations, to make better business decisions with their financial data.

Technology 111

Technology Account accountant accounted 111

CPA Practice

OCTOBER 18, 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Watch the video, or listen to the audio podcast below: Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.)

Technology 111

Technology Account accountant accounted 111

Going Concern

JULY 3, 2025

Gigantic UK-based energy company Shell announced yesterday it will be updating its 2023 and 2024 Form 20-Fs “due to EY non-compliance with audit partner rotation rules” after EY UK told them they’d discovered a small audit partner rotation issue for those years. FT said EY’s fee for 2024 alone was $66 million.

audit 123

audit auditor financial statements accounting and finance 123

CPA Practice

NOVEMBER 19, 2024

Audit firm tenure continues to be frequently disclosed by audit committees (73% of the S&P 500 in 2024); however, fewer audit committees disclose how length of tenure has been considered when reappointing the external auditor (13% of the S&P 500 in 2024), according to the report.

audit 111

audit auditor Government 111

RogerRossmeisl

FEBRUARY 23, 2025

from May to November of 2024. According to the U.S. Bureau of Labor Statistics, the unemployment rate continues to be historically low, ranging from 4.0%

Tax 213

Tax CPA cpa firm business tax 213

CPA Practice

NOVEMBER 8, 2024

18-19, 2024, during our live streaming event at [link]. – From your desk, you can earn up to 14 hours of free CPE credits (pick the sessions you want) on Dec. The end of the year is almost here, and that means you need to check if you have all of your CPE requirements completed.

cpas 132

cpas 132

CPA Practice

OCTOBER 17, 2024

17, 2024, with comments from Intuit and the AICPA. Updated: Oct. TurboTax, the most widely-used do-it-yourself tax preparation in the U.S., is out with a new advertisement in which it is telling Americans that maybe they should save money and have a “tax break up” with their professional preparer by using one of TurboTax’s live experts.

tax preparation 119

tax preparation cpas CPA quickbooks 119