Accounting Today

JULY 24, 2025

Sole owner of Zion Outfitter, an outdoor retailer in Springdale, Utah, he handled the company finances and provided CPAs with information and records to prepare tax forms to submit to the IRS. He underreported his taxable personal income, which resulted in his evading at least $1.9 million in income tax. million in taxes.

Tax 59

Tax tax preparation Real Estate tax return 59

CPA Practice

JULY 1, 2025

According to a Gartner analysis, 33% of enterprise software applications will include agentic AI by 2028, up significantly from where it stood in 2024, at less than 1%.

Technology 66

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CPA Practice

JUNE 5, 2025

According to a Gartner analysis, 33% of enterprise software applications will include agentic AI by 2028, up significantly from where it stood in 2024, at less than 1%.

Technology 72

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CPA Practice

JUNE 26, 2025

Our partnership with Avalara has been instrumental in managing our indirect tax compliance amidst rapid growth and international expansion,” said Vivek Dadhania, Tax Manager at Therabody. The automation and support provided by Avalara have transformed our tax processes, allowing us to focus on our core business and future growth.”

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ThomsonReuters

JULY 21, 2025

Key individual provisions The OBBBA brings significant updates to individual tax policy by permanently extending many of the Tax Cuts and Jobs Act (TCJA) provisions that were previously set to expire. assembled vehicles taken after 2024; phases out at $100K/$200K income ($150K/$250K cutoff). Estate and gift tax exemptions.

Tax 64

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ThomsonReuters

JUNE 27, 2025

At the forefront is the “One Big Beautiful Bill Act,” a high-profile legislative package that could redefine payroll tax policy by permanently extending key provisions of the Tax Cuts and Jobs Act (TCJA) and introducing new exemptions for overtime pay and employee tips. Beyond Capitol Hill, the U.S.

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CPA Practice

JULY 24, 2025

11, 2024, in Las Vegas. Subscribe Tags:  casinos , gambling , Income Taxes , IRS , Legislation , obbba , slot reporting threshold , Taxes Recommended Taxes Articles View All Taxes Articles Firm Management July 24, 2025  Whitepaper: Elevate Your Firm’s Pricing Strategy. Visit reviewjournal.com.

Technology 59

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CPA Practice

JULY 14, 2025

According to court documents, Festus Adenisimi, of Mansfield, Texas, was the owner of FA Tax, a tax preparation business located in Grand Prairie, where he and other tax preparers prepared fraudulent tax returns for their clients, often causing the IRS to issue refunds to those clients.

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CPA Practice

JULY 23, 2025

Volunteers cleared debris, revitalized community spaces, and helped restore parts of the area still facing long-term effects from the 2024 storm. Team members in Asheville worked alongside local organizations to support ongoing recovery and cleanup efforts following Hurricane Helene.

Technology 51

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CPA Practice

JULY 17, 2025

Section 179 deduction: Small businesses can write off 100% of equipment and certain commercial property costs in the first year, effective Jan. It also raises the deduction cap on property expenses to $2.5 million, beginning Dec. The provision is applied retroactively to 2022.

Tax 105

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CPA Practice

JULY 25, 2025

Key Middle Market Insights Optimism Rooted in Controllable Factors: Despite economic challenges, 72% of companies remain optimistic about their outlook over the next 12 months, down slightly from 76% in Q4 2024. Companies are focusing on factors within their control, like improved business efficiency (51%) and technology improvements (48%).

Technology 40

Technology payroll payroll tax audit 40

CPA Practice

JULY 4, 2025

BNEF expects one in four new cars sold this year—some 22 million cars and trucks—to come with a plug, a 25% increase over 2024. Outside the U.S., however, EVs remain on a tear thanks to a drop in battery prices and a wave of low-price models rolling out of Chinese factories. Two-thirds of those sales will be in China.

Tax 90

Tax Technology payroll audit 90

CPA Practice

JULY 9, 2025

The report is based on a new global study of 8,281 LHH Career Transition & Mobility candidates between January 2024 and March 2025, supplemented by proprietary analytics from over 200,000 candidates supported in 2024.

Technology 110

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CPA Practice

JULY 10, 2025

It is the third time in four years North Carolina has topped the list, rebounding from a close second-place finish in 2024. 1 Spot on CNBC’s Top States for Business List North Carolina bested Texas, Florida, Virginia and Ohio to finish No. 1 on CNBC’s latest annual ranking of best states for business. In 2025, North Carolina finished No.

North Carolina 109

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CPA Practice

JULY 18, 2025

Since 2021, “enhanced” premium tax credits have been larger and available to more people. In states using HealthCare.gov , enhanced tax credits made subsidized premiums about $624 less expensive per year in 2024. Smaller tax credits—and therefore more expensive premiums—go back into effect starting in 2026.

Tax 89

Tax Technology payroll audit 89

CPA Practice

JUNE 20, 2025

The change is due to higher-than-expected spending on hospital and hospice care in 2024. The trustees recommended Congress increase the standard payroll tax rate or reduce Medicare spending to address future shortfalls. of the gross domestic product in 2024 but is projected to grow to 6.7%

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CPA Practice

JULY 17, 2025

While these destinations are in line with 2024, discount stores have risen in popularity by five percentage points this year as shoppers look for value. Four in five shoppers (82%) were planning around July sales to shop specifically for items for the upcoming school year. billion, up from $38.8 billion last year. billion, up from $86.6

Technology 82

Technology payroll payroll tax audit 82

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. for paying state unemployment tax. By Nellie Akalp.

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Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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TaxConnex

JANUARY 4, 2024

Added another critic, in August, “Next week’s installment of Connecticut’s annual suspension of sales taxes on clothing and shoes may be a reminder that government is very good at bribing people with their own money.” The fee will also be a way to replace lost funds from gasoline taxes as electric cars become more prevalent.

Sales 264

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Going Concern

AUGUST 29, 2024

The post Top Remote Accountants of the Week | August 29, 2024 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.

Real Estate 105

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Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. Below we highlight any payroll tax and withholding updates or consistencies for 2024 that employers and employees should be aware of. on wages up to $168,600.

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Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

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CPA Practice

AUGUST 2, 2024

ITEP estimated tax payments including sales and excise taxes, property taxes paid directly or on taxes folded into rent payments, and payroll taxes, which are paid either through paycheck withholding or filing income tax returns. their tax contributions would increase by $40 billion per year.

Tax 119

Tax payroll tax New York California 119

CPA Practice

SEPTEMBER 8, 2023

Background : With an FSA, a participating employee generally funds his or her account with pre-tax dollars through a salary reduction plan. Therefore, the employee saves both income tax and payroll taxes on contributions to the plan. Similarly, the employer saves on its share of payroll taxes.

Healthcare 119

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inDinero Tax Tips

MAY 13, 2024

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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inDinero Tax Tips

MAY 13, 2024

What is payroll tax? Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself. How Much Is Payroll Tax?

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Cherry Bekaert

JULY 9, 2024

Revised Form 6765 for R&D Tax Credit On Friday, June 21, 2024, the Internal Revenue Service (IRS) released a revised Form 6765 to report the Section 41 Credit for Increasing Research Activities (R&D Tax Credit). This is proposed to be effective for tax years beginning after December 31, 2024. Section 1.41-6(b)

Tax 96

Tax payroll tax payroll income tax 96

Anders CPA

JANUARY 7, 2025

In 2025, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. Below, we highlight any payroll tax and withholding updates or consistencies for 2025 that employers and employees should be aware of. per hour on January 1, 2025.The

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Withum

FEBRUARY 29, 2024

Of course, our focus for this article is to analyze the Federal and State(s) tax effect to Ohtani over the life of his deferred contract including the deferred payments he is to receive over the 10 years after the contract has expired. Let’s start with his federal payroll tax liability.

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CPA Practice

JULY 1, 2025

In 2024-25, the Foundation was also proud to launch its Fund Our Future Challenge, with Jesus Socorro (Socorro Partners) , Tony Argiz (BDO USA) and Steve Morrison (CohnReznick) each making $100,000 charitable commitments.

Technology 95

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Cherry Bekaert

FEBRUARY 7, 2024

Taxation Considerations Similar to S corps, LLCs (and partnerships) are considered “pass-through” entities in which a business’s income and expenses flow through to the partners and are reported on the partners’ personal income tax returns. This means that the partnership does not pay income tax.

Real Estate 103

Real Estate Tax income tax Legal 103

Withum

FEBRUARY 29, 2024

Of course, our focus for this article is to analyze the Federal and State(s) tax effect to Ohtani over the life of his deferred contract including the deferred payments he is to receive over the 10 years after the contract has expired. Let’s start with his federal payroll tax liability.

Tax 97

Tax income tax Sports payroll 97

CPA Practice

JUNE 10, 2024

One must hope the price tag will be shocking enough to focus attention on the three big problems of the US tax system: It’s unfair, unbalanced and underperforming. Americans are increasingly dissatisfied with their taxes. of all taxpayers’ adjusted gross income and 25.7% of all federal income taxes(1), up from 8.1%

Tax 85

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CPA Practice

FEBRUARY 23, 2024

An S Corp must report corporate income, losses, and deductions through its shareholders/owners, and in turn, the shareholders/owners report company income on their personal income tax returns. Lastly, owners who perform “substantial work” as employees must adhere to payroll tax requirements. corporation.

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inDinero Tax Tips

JANUARY 16, 2024

Due dates for business taxes can change from year to year based on a variety of factors, including weekends and federal holidays. So, if you’re wondering when are taxes due in 2024, you’re asking the right question at the right time. All Organizations January 16th, 2024: Fourth Quarter Estimated Tax Payments.

Tax 52

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Cherry Bekaert

JUNE 30, 2023

Those that recognize this value are creating and implementing ESG tracking and reporting processes today, prior to the proposed SEC Climate Disclosure rules requiring publicly traded companies to disclose their greenhouse gas emissions and any climate-related risks to their operations beginning in 2024.

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