CPA Practice

FEBRUARY 6, 2024

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Connecticut Society of CPAs (CTCPA) recently announced the 2024 CTCPA Women’s Awards winners, which celebrate Connecticut’s female finance professionals.

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CPA Practice

APRIL 3, 2023

The Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—is proud to formally announce its new board of directors for the April 1, 2023, to March 31, 2024, fiscal year. Ellis, CPA, partner in Ernst & Young LLP’s financial accounting advisory services practice in Chicago; Joshua Herbold, Ph.D.,

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RogerRossmeisl

JANUARY 1, 2024

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. If you don’t pay your estimated tax by January 16, you must file your 2023 return and pay all tax due by March 1, 2024, to avoid an estimated tax penalty. If you have questions about filing requirements, contact us.

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CPA Practice

JANUARY 3, 2024

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. The California Society of CPAs is hosting the Real Estate Virtual Conference on January 30, 2024. The Illinois CPA Society is hosting a Corporate Finance Conference.

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RogerRossmeisl

JUNE 19, 2023

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). The post The IRS Has Just Announced 2024 Amounts for Health Savings Accounts appeared first on Roger Rossmeisl, CPA. Inflation adjustments for.

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RogerRossmeisl

APRIL 30, 2024

According to the Treasury, the US government has provided auto dealers with >$580 million in advance payments for consumer electric vehicle (EV) tax credits since 1/1/2024. The post Treasury Has Issued Auto Dealers >$580 Million in Advance EV Tax Rebates This Year appeared first on Roger Rossmeisl, CPA.

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CPA Practice

APRIL 12, 2024

QuickBooks automation tool RightTool is the champion of the 2024 Accountant Bracket Challenge, presented by Accounting High, as the 3 seed defeated 1 seed CPA Jason Staats, host of the Jason Daily podcast, by a score of 355 votes to 110 votes in the final. “To

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Going Concern

JULY 7, 2023

While we’re on the topic of the CPA exam, this is your eleventy billionth reminder to sit for BEC before the CPA Evolution disciplines replace it in 2024. Back to the reason why we’re here, the AICPA has posted a call to all CPAs to help set passing scores for the 2024 CPA exam.

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CPA Practice

MAY 3, 2024

There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. What states have a sales tax holiday in 2024? Several communities in Alaska had a tax-free event in 2023 , and at least one will have one in 2024. What states have a sales tax holiday in 2024? What is a sales tax holiday?

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RogerRossmeisl

NOVEMBER 25, 2023

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Standard deduction Here are the inflation-adjusted standard deduction numbers for 2024 for those who don’t itemize: $14,600 if you’re single or use married filing separate status (up from $13,850 in 2023).

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CPA Practice

FEBRUARY 14, 2024

Voting in the 2024 Readers’ Choice Awards is now open. The CPA Practice Advisor Readers’ Choice Awards give our readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms, provide client services, and help those clients run their businesses.

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RogerRossmeisl

APRIL 24, 2024

As reported in IR-2024-46 Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced on 2/21/24 plans to begin dozens of audits on business aircraft involving personal use.

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RogerRossmeisl

JANUARY 1, 2024

cents per mile in 2024. These include gas, tires, The post The Standard Business Mileage Rate Goes Up Slightly in 2024 appeared first on Roger Rossmeisl, CPA. The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents for 2023).

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Anders CPA

FEBRUARY 12, 2024

Anders Technology, a service line of Anders CPAs + Advisors, is proud to be recognized on CRN’s Managed Service Provider (MSP) 500 list in the Pioneer 250 category for 2024. The post Anders Technology Makes CRN’s MSP 500 List for 2024 appeared first on Anders CPA.

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CPA Practice

FEBRUARY 1, 2024

The IRS started accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). 29, 2024 Feb. This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund.

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RogerRossmeisl

NOVEMBER 12, 2023

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). For 2024, the FICA tax rate for employers will be 7.65% — 6.2% Wages and self-employment income above this threshold aren’t subject to Social Security tax.

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Going Concern

JULY 21, 2023

Inspired by @profjackc who shared some very important CPA Evolution dates and motivated by our undying sympathy for CPA exam candidates, we’re putting his reminder in picture form to make sure you have these dates. It is anticipated that testing will commence on January 10, 2024, for all sections.

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CPA Practice

FEBRUARY 28, 2024

Top influencer keynotes, transformative tech insights and AI innovators converge to elevate the accounting profession at RightNOW 2024. Identifying and implementing the ideal security, data, technology and AI strategies will prime accounting firms for success in 2024 and beyond,” said Joel Hughes, CEO of Rightworks.

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Going Concern

JANUARY 31, 2024

NASBA held a quick little webinar yesterday on CPA Evolution and although I had a million other things I’d rather do, I sat in on it to bring you any important information. People are angry about the 2024 CPA exam score release schedule, and they are allowed to be, and there’s all kinds of confusion about the various extensions.

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RogerRossmeisl

NOVEMBER 25, 2023

Here are the 2024 inflation adjusted bracket thresholds. The post Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and their Owners appeared first on Roger Rossmeisl, CPA. The post Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and their Owners appeared first on Roger Rossmeisl, CPA.

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CPA Practice

NOVEMBER 10, 2023

The Indiana CPA Society (INCPAS) is has announced the latest class of INCPAS Scholars. The INCPAS Scholars is a free, year-long program designed to help high school students learn about accounting and the CPA profession.

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Withum

NOVEMBER 14, 2023

The IRS has recently published the inflation adjustments for the 2024 tax year. As the 2024 election quickly approaches, the increase in estate and gift tax exclusions may bring new opportunities for your estate and gift tax planning, even for those clients who made significant prior gifts.

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Going Concern

OCTOBER 25, 2023

Today we’re going to look at CPA exam candidate numbers. In a vacuum the 2022 numbers aren’t terrible — 30,251 new CPA candidates, 67,336 unique CPA candidates, and 18,847 CPA candidates who passed their 4th section that year. 2021 to 2022 that’s a 6% decrease in new CPA candidates, a 6.8%

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Shay CPA

MARCH 20, 2024

2024 is already well underway, but we’re definitely still early enough into the year that it could go any direction. As we zoomed out and looked ahead, we identified three trends that will likely play a big role in the accounting industry — and financial best practices in general — through the rest of 2024.

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CPA Practice

NOVEMBER 14, 2023

Nominations for the 2024 Most Powerful Women in Accounting awards are now open. The award, presented by CPA Practice Advisor , in conjunction with the AICPA & CIMA Women’s Initiative, recognizes women leaders who have made significant contributions to the accounting and finance profession in the calendar year 2023 only.

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RogerRossmeisl

JANUARY 21, 2024

The post Treasury and IRS Issue Guidance on the Qualified Alternative Fuel Vehicle Refueling Property Credit appeared first on Roger Rossmeisl, CPA.

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RogerRossmeisl

JANUARY 14, 2024

Starting in 2024 newly formed, corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the U.S.

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CPA Practice

SEPTEMBER 11, 2023

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. Johnson will focus much of her time on redefining the CPA profession and career opportunities; creating an inclusive environment where all individuals can thrive.

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CPA Practice

JANUARY 16, 2024

[ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S.] The Alabama Society of CPAs was formed in 1919 and adopted its recent bylaws on June 25, 1975, with the last revision completed on March 1, 2018.

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Going Concern

JULY 14, 2022

The CPA Evolution project continues to chug along as we inch closer and closer to 2024 and now NASBA and the AICPA are asking informed parties to comment on proposed Blueprints. Finalizing these Blueprints is one of the last steps in the process to launch a redesigned CPA exam that started back in 2020. ” [ JofA ].

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CPA Practice

MAY 30, 2023

The number of CPA candidates who took the Uniform CPA Examination in 2022 was about 7% lower than the previous year, the Financial Times reported on May 28. FT reported that was the lowest amount of CPA exam takers in at least 17 years. The number of CPA exam modules being sat by U.S.

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Going Concern

DECEMBER 28, 2023

I’m breaking my holiday vacation with this news: Attention all CPA Exam Candidates… pic.twitter.com/YwBD3uym2l — NASBA (@NASBA) December 27, 2023 Make sure you check out the comments. The funniest part is they posted this on Tuesday like everything was going to be normal: #CPAExam candidates! Waiting for your score(s)?

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CPA Practice

APRIL 15, 2024

Compared to last year, the IRS answered more than 1 million additional taxpayer phone calls during the 2024 tax season, helped over 170,000 more people in-person, and saw 75 million more visits to IRS.gov, mainly due to the agency’s new and expanded Where’s My Refund? for the 2024 filing season, IRS.gov saw large increases in traffic.

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CPA Practice

MARCH 20, 2024

The Securities and Exchange Commission has accepted the 2024 GAAP Financial Reporting Taxonomy (GRT) and the 2024 SEC Reporting Taxonomy (SRT), collectively known as the “ GAAP Taxonomy ,” the Financial Accounting Standards Board (FASB) said on March 19. In addition, the FASB finalized the 2024 DQC Rules Taxonomy (DQCRT).

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CPA Practice

JANUARY 24, 2024

If employee retention isn’t already a priority focus for your CPA firm, you may want to make it one — and soon. Many employers are worried about staff retention going into 2024. The latest Salary Guide From Robert Half reports that the CPA is a credential in high demand. That may not sound like a significant percentage.

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CPA Practice

JANUARY 3, 2024

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. 2024 tax changes Here are some tax shifts happening in various states and how they might impact your finances this year. of the federal amount last year to 40% for 2024. As of Jan.

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CPA Practice

DECEMBER 11, 2023

As we charge through another Holiday Season and plan for the upcoming busy season, many of us take pause to look back at the events of the last year and plan our successes for 2024. So after completing my Top Ten list above, I prompted Bing ChatGPT to generate “the top 10 information technology predictions for accountants to utilize in 2024.”

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