Work Opportunity Tax Credit Extended Through 2025

RogerRossmeisl

The post Work Opportunity Tax Credit Extended Through 2025 appeared first on Roger Rossmeisl, CPA. Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted groups.

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WOTC: Wicked Overlooked Tax Credit Extended Through 2025

Withum

Articles

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Grocery Tracker: $100B By 2025

PYMNTS

By 2025, the report suggests that American consumers could be spending upwards of $100 billion on online grocery purchases, comprising some 20 percent of the total market share. All four grocery stocks tracked find themselves down from last week’s trading. Kroger (KR) stock remains in the valley following a bump up in value in mid-January. The past week’s trading saw prices down $0.03 overall, with larger fluctuations canceling each other out. At the time of writing, Monday’s (Jan.

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Exploding US CBD Market Could Hit $16B By 2025

PYMNTS

the market could reach $16 billion by the year 2025, as per a report by Bloomberg. The prediction for the continued use of CBD was set “conservatively” at usage growing 10 percent by 2025, which would reach the $16 billion threshold. . The U.S. cannabidiol (CBD) market continues to grow, with nearly 7 percent of Americans saying they use the substance. According to an analysis by Cowen & Co., Cowen questioned 2,500 adults for its January survey.

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AI Healthcare Mkt Projected To Reach $36B By 2025

PYMNTS

billion by 2025. The “Artificial Intelligence in Healthcare Market by Offering, Technology, End-Use Application, End User And Geography — Global Forecast to 2025″ report revealed that AI utilized in healthcare will grow at a compound annual growth rate (CAGR) of 50.2 Artificial intelligence (AI) in the healthcare market is expected to grow to $36.1

Southeast Asia’s Internet Economy To Hit $240B By 2025

PYMNTS

Thanks to affordable mobile internet, the internet economy in Southeast Asia is expected to surpass $240 billion in 2025, according to a new study conducted by Google and Temasek Holdings of Singapore. Indonesia, which has the biggest and quickest growing internet economy, is forecasted to reach $100 billion by 2025, accounting for 40 percent of the spending. The report predicted the market would swell to more than $100 billion by 2025 as consumer trust in online shopping grows.

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Study: China To Generate More Data Than U.S. By 2025

PYMNTS

in data generation by 2025, according to a study reported by CNBC. By 2025, that amount is expected to grow to 48.6ZB. for its part, generated 6.9ZB last year, and in 2025 that number is projected to grow to 30.6ZB. The total amount of new data generated in 2025 is expected to grow to 175ZB, from 33ZB in 2018.

IMF Report: Banking Profits Might Not Exceed Cost Of Equity In 2025

PYMNTS

A large share of the banking sectors of nine advanced economies, by assets, may not be able to bring in profits higher than their cost of equity in 2025, according to a simulation exercise cited in the “Global Financial Stability Report” by the International Monetary Fund (IMF).

Cedar CEO: Paper Forms And ‘Clunky’ Medical Bills Won’t Exist In 2025

PYMNTS

It’s hard to think of any business that has more unhappy customers and unpaid bills than healthcare. It’s a problem that literally impacts some people’s health, as many avoid going to the doctor as a result.

Best Buy Aims For $50B Revenue By Fiscal 2025

PYMNTS

Ahead of its investors meeting, Best Buy said it is looking for revenue of $50 billion by fiscal 2025. The electronics retailer also intends to have $1 billion of additional efficiencies as well as cost reductions over the next five years, while still aiming for revenue of $43.1 billion to $43.6 billion for fiscal 2020, Chain Store Age reported. “In In this next chapter, our focus continues to be top-line growth,” Best Buy CFO Matt Bilunas said, according to the outlet. “We

How Retailers Could Turn Smart Vending Into A $15B Market By 2025

PYMNTS

The estimated value of the global intelligent vending machine market by 2025 is $15 billion. The expected CAGR of the global parking meter market from 2018 to 2025 is 6.97 As technology reshapes the way buyers access goods and services, consumer expectations are moving targets, and merchants that hope to survive can’t afford to fall behind.

Medical Tourism 1 In 8 Int’l Trips By 2025

PYMNTS

Perhaps the most surprising insight Visa’s study provides is that outbound travel for Indian nationals over age 65 is expected to experience a staggering 193 percent increase in growth by 2025. Globally, Visa estimates that travelers in the 65-plus demographic will more than double their international travel to 180 million trips by 2025 — accounting for one out of every eight international trips.

The Global Connected Retail Market May Top $82B By 2025

PYMNTS

The estimated valuation of the global connected retail market by the end of 2025 is $82.31 Retail is undergoing a reinvention with the rise of eCommerce, and merchants are trying new approaches to their brick-and-mortar stores. Nordstrom , for example, has rolled out a new store concept , Nordstrom Local, that premiered in West Hollywood.

Walmart Pledges To Stock Only Cage-Free Eggs By 2025

PYMNTS

Ever since the rise of urban foodie culture in the mid-2000s, there have been isolated contingents of shoppers demanding that their chosen grocery retailers shift to a more conscientious manner of sourcing their products. This has remained something of a niche movement until recently, and Walmart just pushed it into the mainstream for good. Walmart announced on Tuesday (April 5) that it would begin a nine-year transition toward a supply chain that included only cage-free eggs.

Oracle Retail: Shoppers Value Control In Retail Technologies

PYMNTS

The Oracle Retail 2025 study provides a benchmark on where shoppers lie within the retail technology adoption lifecycle and also highlights how the attitudes of consumers could impact the implementation of new retail technologies going over the next eight years. Retail AI Internet of Things IoT News oracle oracle hospitality oracle retail 2025 retail technologies

Traveling for Business Again? What can you Deduct?

RogerRossmeisl

Note that under the Tax Cuts and Jobs Act (TCJA) , employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns. That’s because unreimbursed employee business expenses are “miscellaneous itemized deductions” that aren’t deductible through 2025.

“The First State” Becomes the 11th: Delaware Paid Family Leave Coming Soon

Patriot Software

While the Act won’t go into effect until 2025, there are a number of things […] READ MORE. With the passage of the Healthy Delaware Families Act (the Act), Delaware became the 11th state to guarantee paid parental, medical, and military leave for employees.

A “Perfect Storm” for Casualty Loss Deductions

CPA Practice

For one thing, the TCJA crackdown is temporary, spanning 2018 through 2025. Despite a common perception, the Tax Cuts and Jobs Act (TCJA) didn’t permanently eliminate the deduction for personal casualty and theft losses.

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Can Taxpayers Who Manage Their Own Investment Portfolios Deduct Related Expenses?

RogerRossmeisl

Under current tax law, these expenses aren’t deductible through 2025 if they’re considered investment expenses for the production of income. These rules are scheduled to return after 2025.)

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Tax Considerations When Launching a Sole Proprietorship

RogerRossmeisl

For tax years through 2025, the deduction can be up to 20% of a pass-through entity owner’s QBI. While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors.

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Casualty Loss Tax Deductions Can Only Be Claimed in Certain Situations

RogerRossmeisl

More difficult to qualify For losses incurred through 2025, the TCJA generally eliminates deductions for personal casualty losses, except for losses due to federally declared disasters.

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Deductibility of Portfolio Management and Related Expenses

RogerRossmeisl

Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses.

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Basis Period Reform – for self-employed individuals and all partnerships

Inform Accounting

For example, a sole trader preparing accounts to 30 June will need to take the tax adjusted results for 30 June 2024 and 30 June 2025 and: calculate 3 months (3/12ths) of the 30 June 2024 tax adjusted results; and.

What’s new for state sales and use taxes

TaxConnex

Virginia’s sales and use tax exemption for retail sales of gold, silver and platinum bullion and legal tender coins that was set to expire this summer has been extended to June 2025. There’s always something changing in the world of tax, especially sales tax.

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The new breed of audit

TaxConnex

The [auditor] is provided with read-only access to the company’s general ledger with exceptions related to confidentiality,” reads a 2021 white paper commissioned by Oracle, which added that most organizations will adopt a virtual audit form by 2025.

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Platform Economy’s Strong Growth, Based On Trust

PYMNTS

Data: $335 billion: Estimated size of the global sharing economy by 2025. billion: Projected size of the global electric scooter market by 2025. $1 percent: CAGR of the global integrated SaaS market between 2018 to 2025. The platform economy is global in scope, spanning countries, borders, languages and currencies.

A Few Things About The Internet Of Things

PYMNTS

33 percent: Projected CAGR of the global IoT insurance market, as measured between 2019 and 2025. percent: Projected CAGR of the IoT analytics market from 2017 to 2025. Devices are everywhere – and are now intelligent and interacting with us through all manner of daily routines. There are billions of devices in the world helping to monitor and regulate everything from room temperatures to restocking the fridge.

Real Estate Related COVID Relief Under the Consolidated Appropriations Act (CAA)

KROST

Mortgage Debt Forgiveness for income from the discharge of qualified principal residence indebtedness is extended through 2025. Empowerment Zones (EZs) Tax Incentives for areas of high poverty and unemployment were extended through 2025.

KPMG’s New Metaverse Space is Like the First-Person Shooters You Played in 1999 But Worse

Going Concern

According to the Ready Player One timeline the sleek, immersive virtual world of Oasis was created in 2025 so who knows, maybe we’ll get something better than business casual VRChat within our lifetimes.

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Eliminate the ‘SALT’ Deduction Cap?

LSLCPAs

Since 2017 (and through 2025), as the current law exists, only. What does SALT stand for, and what are the Pros and Cons? SALT is an acronym for State and Local Taxes. The current cap on deductions for state and local taxes is $10,000 as enacted in the 2017 Tax Cuts and Jobs Act (TCJA).

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CARES ACT’S DEFERRAL OF, CHANGES TO, LIMITS ON EXCESS BUSINESS LOSSES

MyIRSRelief

The $500,000 and $250,000 limits, which are adjusted for inflation for tax years beginning after calendar year 2018, were scheduled under the 2017 Tax Law to apply to tax years beginning in calendar years 2018 through 2025. But the CARES Act retroactively postponed the limits so that they now apply to tax years beginning in calendar years 2021 through 2025. Dear Client: Right now your highest priority continues to be the health of those you love and yourself.

Accounting software firm iplicit unveils new Automation Centre at Accountex

Accounting Insight

Currently supporting over 5,000 users daily, from over 650 organisations globally, the team at iplicit aims to increase this tenfold by 2025 – seeing over 6,000 mid-market organisations adopt its cloud-native solution.

New Hampshire is phasing out the Interest/Dividends Tax over the next 5 years

Steve Feinberg

In 2022 the rate is 5%, and then 4% in 2023, 3% in 2024, 2% in 2025, 1% in 2026, and then completely repealed after 2026. With this eventual repeal of the Interest/Dividends Tax and phaseout over the next 5 years and the expected eventual expiration of the QBI deduction currently set for after 2025, S Corporation may suddenly look like a better choice of a tax entity.

Thomas Hoberman Appointed to NJ Supreme Court Disciplinary Review Board

Withum

Tom has served on the DRB since 2013 and the Supreme Court of New Jersey reaffirmed Tom to a three-year term on the board, ending in 2025. Withum is pleased to announce that Thomas J.

New Levels Of Retail Earnings And Payment Challenges

PYMNTS

5T: Projected value of virtual card spending in 2025. $4B: COVID-19 and the ensuing economic downturn has caused B2B payment challenges to reach a new level.

Real Estate Business Provision and Initiatives Included in Bipartisan COVID-19 Agreement

KROST

It is extended through December 31, 2025. It is extended through December 31, 2025. Congress introduced the Bipartisan economic relief package on December 20, 2020. This relief bill provides stimulus to individuals and businesses.

The Evolution Of Retail, X-Border Payments Amid The Pandemic

PYMNTS

18T : Predicted value of B2B transactions made via an instant payment in 2025. Target and Ulta are teaming up on a “shop-in-shop” concept, as the cosmetics business continues its pandemic-fueled evolution.

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Future of Accounting: The 2022 Annual Guide

Ryan Lazanis

The online education market is exploding and is expected to hit $350B globally by 2025. In this guide, I’m going to outline what the future of accounting looks like for accounting firms and how to best prepare for it in 2022. And to be clear, this is not a predictions post.

Tax Savings for Small Business Owners: Bonus Depreciation and Section 179

xendoo

60% after December 31, 2023 and before January 1, 2025. 20% after December 31, 2025 and before January 1, 2027.

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Australia Regulatory Updates – August 2021

GlobalUpside

It is expected to reach the 12% rate by 2025, after which the annual increase will conclude. Several regulatory updates have been made in Australia throughout the last few months.

Optimising accounting technology for remote workplaces

Reckon

trillion by 2025. For better or worse, the pandemic has disrupted the accounting industry forever. Dave Francis, General Manager of APS, has witnessed enormous changes industry wide. One of the most significant has been a distinct shift in where work is done.

Taking Care of Your Business: Estate Planning for Business Owners

CTP

million [1] , but after 2025, this exception is expected to reverse to $5 million for an individual. [2] million through the end of 2025). Success in your business should be a reason to celebrate and take pride in your accomplishments.

The Rise Of eCommerce And Digital Banking Innovations

PYMNTS

Data: $86B: Estimated spend on in-car commerce by 2025. Salesforce predicts that a digital surge could strain holiday shipping. In connected vehicles, the FinTech Car IQ has teamed with Discover to accelerate automotive banking.