CPA Practice

OCTOBER 5, 2023

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) For me, the dread of tax season truly arrives when I start receiving 1099s, W-2s, 1098s, etc., A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results. A tax puzzle emerges with, sometimes, very favorable, or very unfavorable, results.

Tax 111

Tax income tax tax planning accounting and finance 111

ThomsonReuters

MARCH 5, 2024

tax system, including provisions affecting both individuals and businesses. Among these were several payroll-related provisions that are set to expire at the end of 2025, presenting challenges and opportunities for employers and employees alike. Director of Federal Tax Quality Control at Aprio, began.

Tax 98

Tax payroll Expense Reimbursements Gaming 98

ThomsonReuters

MARCH 9, 2023

Tax and Accounting professionals, listen up! Aren’t you tired of spending countless hours pouring through textbooks and internet searches trying to find the latest tax laws? Enter: Thomson Reuters Tax Season Toolkit. Breeze through tax season easily with our comprehensive year-end tax season toolkit.

Tax 59

Tax Account accountant accounted 59

CPA Practice

SEPTEMBER 18, 2023

Whether the market is up or down, it’s always a good time to keep your taxes in mind and, more specifically, how you can put yourself in an advantageous position by keeping more of your own money in your pockets. When it comes to tax optimization, there are two common strategies: Roth conversions and tax-loss harvesting.

Tax 119

Tax income tax Non-Profits tax planning 119

ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

Tax 110

Tax tax return Technology income tax 110

Inform Accounting

JUNE 29, 2022

In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading and property income of more than £10,000 the basis period rules are being reformed. At present, once an unincorporated business is established, it is taxed on the current year basis.

Account 52

Account accountant accounted tax return 52

CPA Practice

JANUARY 24, 2024

It’s too common in our profession that business owners search for tax deductions after receiving their tax bill. By that time, it is typically too late for anything to be done for that tax year, but to some owners, waiting to “cash in” after the next fiscal cycle is too long to wait. Tax Incentives with SECURE 2.0

Tax 52

Tax Non-Profits business tax tax return 52

Going Concern

MAY 26, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Among them was the Employee Retention Credit, a tax benefit that was created as part of the initial $2 trillion pandemic relief legislation. Have a safe Memorial Day.

public accounting 85

public accounting Account accountant accounted 85

ThomsonReuters

SEPTEMBER 7, 2023

Jump to: Child and dependent care credit FAQs What is kiddie tax? What is the adoption tax credit? Claiming children on taxes Choosing the best tax preparation software As all working parents know, the cost of child and dependent care can be a significant financial burden.

Tax 52

Tax income tax tax preparation tax return 52

Nancy McClelland, LLC

JANUARY 10, 2023

The course description from CPA Academy: §199A is a key tax deduction available to pass-through entities through tax year 2025. Reasonable compensation determinations have a substantial impact on a taxpayer’s potential §199A deduction and are an important part of tax planning. Learning Objectives.

Education 52

Education CPA tax planning Tax 52

Anders CPA

SEPTEMBER 20, 2023

Several of the provisions won’t take effect until 2024 or 2025. Before making any changes to your retirement savings plan, consult with a tax or financial advisor to ensure you’re selecting the best possible options for your specific situation and retirement strategy. have gone into effect. have gone into effect. SECURE Act 2.0

Tax 52

Tax Start-ups tax planning CPA 52

ThomsonReuters

OCTOBER 12, 2023

Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. To support this effort, forward-thinking accounting firms are increasingly using tax preparation software and scan-and-populate solutions to tackle the challenges of foreign income reporting. What is FEIE?

Tax 40

Tax tax return income tax Real Estate 40

KROST

JANUARY 25, 2021

As an industry impacted by the pandemic, real estate businesses can benefit from several key tax provisions in the package. However, guidance on how to account for business expenses used with the PPP loan was not provided. Business owners should watch out for this or speak to their CPA or accountant for more information.

Real Estate 91

Real Estate CPA Tax public accounting 91

Withum

FEBRUARY 26, 2024

There is no better place for automotive accountants and CFOs to pack in CPE credits, networking, good food, and fun than at the AICPA Dealership Conference. It’s a chance for us to get together with our industry contacts, clients, and other accounting firms to discuss hot topics for the current year and the upcoming year.

cpas 52

cpas Tax Start-ups Sales 52

LyfeAccounting

JUNE 7, 2021

We have 10 tips on how you can avoid paying taxes. Because for most people, paying taxes is such a drag, annoying, frustrating… So today, we want to talk about how to avoid taxes and give you 10 legit and legal ways to do so. Now in 2021, you start paying taxes the second you make over $9,875 a year as an individual.

Legal 59

Legal Tax income tax Real Estate 59

Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.

tax planning 98

tax planning Tax Construction income tax 98

Menzies

AUGUST 1, 2023

Menzies LLP - A leading chartered accountancy firm. With mounting public debt, high levels of inflation, and rising costs, policymakers are under immense pressure to raise taxes for public services. As taxpayers, it is vital to plan and take proactive measures to safeguard their financial wellbeing.

chartered accountant 52

chartered accountant Education Tax accounting and finance 52

MyIRSRelief

SEPTEMBER 1, 2020

With more than 30 million small businesses in the US, effective tax planning is essential to maximizing profits and minimizing taxes, keeping more of what is earned, and lowering your taxes for the future. And the account itself will continue to grow tax-free. No State Sales or Individual Income Tax: Alaska.

tax planning 100

tax planning Tax South Dakota New Hampshire 100

ThomsonReuters

JANUARY 16, 2024

The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. Tax Planning and Advisory Guide—Health Care Reform—premium tax credit expansion) The SECURE 2.0

Tax 52

Tax income tax tax planning payroll 52

CPA Practice

JUNE 16, 2023

By Martin Schamis, CFP, Kiplinger Consumer News Service (TNS) The Tax Cuts and Jobs Act (TCJA) of 2017 is currently scheduled to sunset at the end of 2025, meaning significant changes are on the horizon for taxpayers. TCJA brought sweeping changes to the tax code for both businesses and individuals. 529 plan accelerated gifts.

Tax 119

Tax income tax Non-Profits Education 119

ThomsonReuters

MARCH 7, 2024

Reassessment of lease terms As businesses strive to enhance their properties, the tax implications of Qualified Improvement Property (QIP) and its associated depreciation methods can be substantial. Let’s explore the definition of QIP, the tax benefits it offers, and the various depreciation methods available to optimize tax strategy.

accounting principles 98

accounting principles Tax tax planning Account 98

CTP

SEPTEMBER 16, 2022

We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. Tax credits are also available, resulting in an end-of-year refund.

tax planning 52

tax planning Tax Real Estate Education 52

CTP

SEPTEMBER 16, 2022

We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the same strategies to reduce their adjusted gross income (AGI) and overall tax liability. Tax credits are also available, resulting in an end-of-year refund.

tax planning 52

tax planning Tax Real Estate Education 52

CPA Practice

MARCH 16, 2023

With the individual tax filing deadline approaching, high-net-worth (HNW) individuals and their advisors should be aware of the latest federal tax changes for 2023 that may impact their financial and retirement planning, especially as pandemic-related tax breaks begin to expire. million for couples free of gift taxes.

Tax 103

Tax Non-Profits tax planning Account 103

ThomsonReuters

OCTOBER 19, 2022

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Corporate Alternative (Book) Minimum Tax.

income tax 64

income tax Kansas Kentucky Tax 64

LyfeAccounting

MAY 24, 2021

So monthly payments through the new federal enhanced child tax credit will start on July 15, 2021. This child tax credit will go to close to 40 million households, or roughly 90% of children in the United States, according to the IRS. What Is The Monthly Child Tax Credit All About? Now, these are tax credits.

Tax 52

Tax tax return tax planning accounting and finance 52

CPA Practice

OCTOBER 18, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss how a new generation of computing will impact accounting firms. But I’m gonna get him convinced and you convinced why quantum computing and accounting is such a big deal. I hope you’re still listening, because I want to talk now about the way it works in accounting.

Technology 126

Technology Account accountant accounted 126

CPA Practice

MARCH 12, 2024

Arvo Tech , a maker of tax strategy solutions for small businesses, is acquiring Mark Murphy and Associates and Lee and Associates, full-service accounting firms dedicated to helping companies maximize their financial futures. Arvo has helped employers participate in employment-based tax incentive programs for more than a decade.

accounting firms 52

accounting firms Technology Finance Account 52

SkagitCountyTaxServices

NOVEMBER 16, 2023

owner=19530343 There is still some budget discussion in Congress for the new fiscal year, which could include some tax provisions, as several tax changes introduced by the Tax Cuts and Jobs Act are set to end in 2025. There are also recent and developing tax legislation changes that affect that advice.

Tax 79

Tax Start-ups Government tax planning 79

Ryan Lazanis

APRIL 10, 2022

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. So if you’re looking to improve your firm in 2022 and keep yourself on the cutting edge of accounting, you’ll love this new guide. Future of Accounting Table of Contents.

Account 111

Account accountant accounted Technology 111

Anders CPA

NOVEMBER 22, 2022

Converting to a Roth IRA from a traditional IRA may result in an immediate tax liability but timing the conversion correctly can save on taxes in the long run. With the stock market’s instability and current income tax rates at a historical low, converting to a Roth IRA may be in your best interest, as long as you get the timing right.

Tax 98

Tax income tax tax planning CPA 98

LyfeAccounting

OCTOBER 29, 2020

?. President Trump vs Biden Tax Plan. With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. What an Effective Tax System Looks Like.

tax planning 52

tax planning Tax corporation tax Real Estate 52