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. Each eligible IRA owner can exclude up to $105,000 in QCDs from taxable income. Tax Return for Seniors.

tax return 114

tax return income tax Tax 114

Withum

NOVEMBER 25, 2024

The impending expiration of the Tax Cuts and Jobs Act (TCJA) on December 31, 2025, marks a significant turning point for individual taxpayers. Enacted in 2017, the TCJA introduced lower tax rates and broader tax brackets, providing substantial relief to many.

Tax 106

Tax income tax Real Estate tax return 106

Withum

DECEMBER 18, 2024

Finance teams planning for their year-end financial statement audit have an even longer list of things to think about at the end of the year, including income statements, balance sheets, and, finally, the income tax provisions and disclosures that must be presented in the financial statements.

Tax 122

Tax auditor financial statements income tax 122

Accounting Today

JUNE 20, 2025

3 to file various federal individual and business returns and make tax payments. 3 to file various federal individual and business returns and make tax payments. The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) All rights reserved. 15, 2025. 31, 2025.

Mississippi 94

Mississippi Texas Tax Technology 94

Xero

JUNE 6, 2025

Whether this is your first payroll finalisation, or your hundredth, blast past your tax time stress by following our handy list of steps. In Xero Payroll, all active and terminated employees (who will be included in the STP finalisation for the financial year) will need an employment type, income type, and tax scale defined in their records.

payroll 95

payroll Tax general ledger income tax 95

CPA Practice

NOVEMBER 6, 2024

For every dollar they paid in, they would get tax deductions of about $4.50. Now that longtime accountant, Herbert Lewis, is heading to federal prison for his role in promoting and selling illegal tax shelters. I think this thing is the best safe tax savings tool I have seen in a long time; probably ever. million in restitution.

CPA 52

CPA Tax income tax tax return 52

TaxConnex

DECEMBER 17, 2024

The excitement of years end can push all kinds of taxes to the back of your mind. But its a good idea to look out for how a new year can mean new sales tax obligations for you and your online business. Here are some common situations that can be exciting for your business and distracting for you and that can create sales tax risk.

Sales 130

Sales Tax auditor audit 130

Accounting Today

JUNE 12, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. The tax loss totaled $356,881. All rights reserved.

Tax 85

Tax tax preparation audit Technology 85

Accounting Insight

MAY 9, 2025

In this blog, we answer all your FAQs related to MTD for Income Tax , as there remains uncertainty about HMRCs scheme. What is MTD for Income Tax? Be able to provide their Income Tax return information to HMRC through compatible software. Who is exempt from MTD for Income Tax?

income tax 52

income tax Tax tax return bookkeeping software 52

CPA Practice

OCTOBER 23, 2024

With the 2025 income tax filing season coming soon, the IRS is encouraging all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). IP PIN users should share their number only with the IRS and their tax preparation provider.

tax return 105

tax return Tax online accounting tax preparation 105

Going Concern

NOVEMBER 8, 2024

PwC accused of interfering in Australian tax leaks probe [ Financial Times ] PwC has been accused of interfering in Australia’s political and regulatory affairs after documents revealed the Big Four accounting group warned its local firm against co-operating with investigations into a damaging tax leaks scandal without permission.

Florida 98

Florida Mississippi audit auditor 98

CapataCPA

JANUARY 13, 2025

IRS Announces Tax Relief for Los Angeles County Wildfire Victims – Tax Updates with CAPATA In response to the devastating wildfires and straight-line winds that began on January 7, 2025, in Southern California, the Internal Revenue Service (IRS) has announced significant tax relief measures for individuals and businesses in affected areas.

Tax 52

Tax income tax tax return California 52

Nancy McClelland, LLC

APRIL 8, 2025

Did your accountant (possibly me) ask you to make a business tax payment for your Illinois pass-through entity, such as a Partnership or S-Corp — maybe an estimated tax payment or extension payment? On the Summary tab, look for the Business Income Tax section. (In Well, you’ve come to the right place.

Illinois 52

Illinois business tax Tax income tax 52

CPA Practice

JUNE 18, 2025

The Treasury and IRS are currently considering updating the form instructions for the final regulations issued on September 16, 2024 ( T.D. GMAC’s 2024 Application Trends Survey showed that 72% of Master of Accounting programs in the U.S. The share of growth in applications hit a five-year high. Two percent of U.S.

Technology 88

Technology accounting and finance cpas payroll 88

CPA Practice

JULY 7, 2025

from spring 2024. economy over the next 12 months, down from 47% last quarter and 67% at the end of 2024. across four sections of the Uniform CPA Examination, pass the four sections on their first attempt and have completed testing in 2024. Overall graduate enrollment increased 1.5% Only 27% now hold a favorable view of the U.S.

cpas 85

cpas accounting and finance CPA Technology 85

Withum

FEBRUARY 19, 2025

In an ever-evolving and often overly complex tax compliance world, its crucial for resort operators and managers to ensure a comprehensive understanding of filing requirements and what classifies a contract worker as 1099-eligible labor. Fines: The IRS can impose fines for each misclassified worker.

Tax 52

Tax Hospitality Expense Reimbursements income tax 52

Shay CPA

JULY 16, 2025

Over the last 20 years of being an accountant, I’ve opened my fair share of mail to find tax notices so daunting they could wake you in cold sweat. These letters—from federal, state, or city agencies—might demand income tax, franchise tax, sales tax, unemployment insurance, or workers’ compensation.

Delaware 52

Delaware Tax tax return CPA 52

Withum

JUNE 24, 2025

The deduction can result in pass-through business owners having a maximum effective federal tax rate of approximately 30%, as opposed to 37%. However, the C Corporation 21% tax rate was a permanent tax provision, while the 199A deduction is set to expire as of December 31, 2026.

Tax 72

Tax income tax New York corporation tax 72

CPA Practice

JULY 1, 2025

AuditBoard now serves over 50% of the Fortune 500, was named to the Deloitte Fast 500 list for the sixth consecutive year, and was acquired in mid-2024 by Hg for over $3B in one of 2024’s biggest VC-backed PE transactions. © 2025 Firmworks, LLC.

Technology 104

Technology audit payroll CPA 104

Dent Moses

JUNE 25, 2025

On March 20, 2025, the IRS issued new FAQ’s as guidance to businesses understand how to properly report Employee Retention Credit (ERC) refunds on their income tax returns. This is especially important for companies that received ERC refunds but never amended their earlier tax returns, or for those whose claims were later denied.

tax return 52

tax return income tax payroll Tax 52

CPA Practice

JULY 22, 2025

According to 2024 data from the U.S. In a 2024 AICPA and CIMA report only 37% of senior finance leaders say their organizations have comprehensive enterprise risk management (ERM) in place. These forces are reshaping business models, strategic planning, and in some cases, threatening organizational survival.

Technology 55

Technology accounting and finance payroll payroll tax 55

Accounting Today

JULY 24, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email The not-so-great outdoors; spear itself; pain and gain; and other highlights of recent tax cases. From 2017 to 2022, Heaton, who pleaded guilty in February, underreported his income to the IRS. He underreported his taxable personal income, which resulted in his evading at least $1.9

Tax 59

Tax tax preparation Real Estate tax return 59

Accounting Today

JUNE 19, 2025

EDT 5 Min Read Facebook Twitter LinkedIn Email Seeking shelter; please be Gentle; where the heart is; and other highlights of recent tax cases. Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. million in taxes on income he earned from his business.

Tax 69

Tax tax preparation Technology Real Estate 69

ThomsonReuters

NOVEMBER 1, 2024

← Blog home Global indirect tax and e-invoicing compliance is more critical than ever, with corporations needing to navigate a complex web of regulations and mandates. Given these potential pitfalls, ensuring a robust and adaptable tax compliance strategy is essential for maintaining a competitive edge.

Tax 52

Tax Technology audit income tax 52

Withum

NOVEMBER 21, 2024

The IRS released new Form 15620 to simplify and standardize elections under section 83(b) on November 7, 2024. To make the election, employees need to complete and sign Form 15620 and mail it to the IRS office where they file their federal income tax returns. While this new form does not change any of the requirements from Rev.

income tax 59

income tax tax return Tax tax services 59

ThomsonReuters

JULY 21, 2025

For tax professionals, this change brings with it both opportunity and complexity, whether it’s deciphering federal changes, navigating a mix of state conformity, or managing client expectations. Let’s take a look at how the OBBBA is reshaping SALT policy and how tax professionals like you can stay one step ahead.

tax preparation 52

tax preparation Tax tax planning income tax 52

Accounting Today

JUNE 26, 2025

EDT 5 Min Read Facebook Twitter LinkedIn Email Another Naughty list; a couple of sharks; Miami vice; and other highlights of recent tax cases. 1, 2024; and CPA Walter W. 20, 2024, and attorney Jason M. 10, 2024, and attorney Catherine E. 14, 2024, and CPA George O. 4, 2024; Enrolled Agent John A.

Tax 71

Tax Technology tax preparation CPA 71

Reckon

FEBRUARY 20, 2025

The deadline for the new tax reporting requirements for Not For Profit (NFP) organisations with an active ABN is set for 31st March 2025. However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. This is a drastic change from how tax exemption was calculated for NFPs. Lets break it down.

Non-Profits 52

Non-Profits income tax Tax Government 52

SkagitCountyTaxServices

MARCH 6, 2025

And unfortunately, its not mostly the fun stuff keeping you busy its things more on the housekeeping side of running your business, like meeting tax and other important government deadlines. Monday, March 17 : S corporation and partnership tax returns are due for calendar-year businesses. – Tax year 2025 (reporting in 2026): 2.5K

tax return 73

tax return Tax CPA income tax 73

CPA Practice

NOVEMBER 10, 2024

As healthcare enrollment and renewal season continues, the Internal Revenue Service is reminding taxpayers that if they use flexible spending accounts (FSAs), they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. If the plan allows, the employer may also contribute to an employee’s FSA.

Healthcare 116

Healthcare income tax payroll Tax 116

Withum

NOVEMBER 4, 2024

The hope was that this would lead to an expedited rescheduling, and perhaps IRC §280E might not apply to the tax year ending 2024 (or at least all twelve months of 2025). Explore our resource center for essential information to navigate the tax implications of the upcoming election with confidence.

income tax 105

income tax Tax Legal CPA 105

Accounting Insight

OCTOBER 25, 2024

The first notion comes with the concept of before and after profit, for instance profit before taxes or profit after taxes. But, as a warning to anyone who thinks they might be getting the hang of this the acronym PAT is not used for profit after tax. His second book Fun with Accountants will be published on 8th November 2024.

Non-Profits 98

Non-Profits Account accounted accountant 98

CPA Practice

JUNE 20, 2025

Parker pleaded guilty to a charge of fraud conspiracy on May 15, 2024. She pleaded guilty in March 2024 and was sentenced in May to one year in prison, two years of supervised release, and ordered to pay $1.3 million in COVID-19 relief loans in Pennsylvania. million in COVID-19 relief loans in Pennsylvania. million in restitution.

Pennsylvania 72

Pennsylvania CPA Technology payroll 72

Going Concern

FEBRUARY 10, 2025

‘Tis the season to get tax advice from TikTok. billion in the United States in 2024. You’d think it paid a lot in taxes, right? Well it paid precisely $0 in federal income taxes last year. Sendil Palani replies : Professor, Respectfully, Tesla’s income taxes are not an example of fraud.

Indiana 52

Indiana Tax Account accounted 52

Accounting Insight

JANUARY 16, 2025

Do you feel ready to do your Self Assessment tax return with a smile this year? From April 2024, taxpayers voluntarily joining MTD for ITSA has a new set of penalties for missing deadlines. Late filing The deadline for filing your Self Assessment tax return online is midnight 31 January 2025.

tax return 52

tax return quickbooks Tax income tax 52

Withum

DECEMBER 17, 2024

The Tax Cuts and Jobs Act (TCJA) enacted several tax rate cuts when it was enacted in 2017. This included a reduction of the C Corporation rate to 21% and a temporary provision that allowed owners of S Corporations and Partnerships a reduction of their taxes by deducting an additional 20% of the taxable profit from their businesses.

Tax 52

Tax tax planning income tax tax return 52

Withum

DECEMBER 2, 2024

On January 10, 2024, the U.S. Department of Labor published a final rule, effective March 11, 2024, revising the Department’s guidance on analyzing who is an employee or independent contractor under the Fair Labor Standards Act (FLSA). Did you know that those healthcare professionals may now be considered employees?

Healthcare 72

Healthcare income tax Tax 72