CPA Practice

JULY 19, 2023

Department of Education releases the FAFSA (Free Application for Federal Student Aid) for the 2024-2025 academic year. One of those changes will be welcome news for grandparents who have the means and the desire to help pay for their grandchild’s college education. What is a 529 account? Is a 529 reported on the FAFSA?

Education 98

Education Transportation Michigan Virginia 98

Reckon

JUNE 2, 2022

For better or worse, the pandemic has disrupted the accounting industry forever. Dave sat down to chat with Alex (writer at Reckon) to distill the perks and perils of hybrid and remote work for Australian accounting firms. Why do you think some accounting practices embrace remote work more than others? trillion by 2025.

Technology 98

Technology Account accountant accounted 98

Accounting Insight

MAY 24, 2024

The programme was curated to incorporate everything that affects accounting, finance and bookkeeping professionals inside and outside of the office. Topics included carbon accounting, practice growth, AI and ESG. To find out more information about the event and to join the mailing list, please visit: www.accountex.co.uk/london

bookkeeping 52

bookkeeping accounting and finance quickbooks Education 52

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

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. 31, 2025—at which point they will revert to pre-TCJA levels. 31, 2023, based on your account balance on Dec.

Tax 120

Tax income tax Non-Profits Education 120

CPA Practice

MAY 28, 2024

The event included two days of educational sessions with topics such as how to be truly connected to your clients, evaluating trending technologies, optimizing your firm’s tech stack, creating an IRS WISP plan, mastering accounting firm security, best practices for working with the IRS, and much more.

Technology 59

Technology accounting firms tax preparation Education 59

CPA Practice

JUNE 5, 2023

The Society will award the $5,000 scholarship each year to a deserving undergraduate or graduate student pursuing an accounting degree in Massachusetts. Scholarship recipients are selected through a competitive application process by the Board of Directors of the Society’s Educational Foundation.

CPA 111

CPA Delaware Oklahoma Massachusetts 111

CPA Practice

MARCH 20, 2023

Many of the changes for individuals in the Tax Cuts and Jobs Act (TCJA) are temporary and are scheduled to expire after 2025. Generally you can set up a Section 529 plan to pay for qualified education expenses of a beneficiary, like your child, when they attend college or grad school. Account for alimony. Use 529 plan for kids.

Tax 85

Tax tax return Education Account 85

Anders CPA

APRIL 9, 2024

A keen understanding of your expected 2024 and 2025 revenue will help determine what filing requirements your business will need to meet moving forward. If you don’t close the account, 2024 quarterly returns must be filed to prevent non-filer notices All members of a group are combined to determine whether the thresholds have been exceeded.

Ohio 52

Ohio Sales Tax Manufacturing 52

Going Concern

OCTOBER 2, 2023

Global accounting and advisory firm Deloitte is well and truly pulling away from its Big Four rivals. The AICPA created the practice aid to help accounting professionals establish a QM system for their firm’s accounting and auditing practice in line with the Statement on Quality Management Standards (SQMS) No.

North Dakota 111

North Dakota Account accountant accounted 111

Accounting Insight

MAY 11, 2022

True cloud accounting software provider iplicit has today (11 May) launched its Automation Centre feature at Accountex. Enabling organisations to increase efficiency, reduce human error, eliminate manually intensive processes, the iplicit Automation Centre can save accounting and finance teams hundreds of hours every month.

accounting software 69

accounting software Technology Account accountant 69

Going Concern

APRIL 21, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. But that might be the least of it: The outlook for EY’s business of charging for advice and accounting is getting weaker in the U.S. A failed breakup attempt cost the company $600 million.

Account 103

Account accountant accounted audit 103

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 127

Technology Account accountant accounted 127

CPA Practice

JANUARY 27, 2023

Beginning in 2024, you can take emergency distributions without penalty of up to $1,000 a year from a retirement account to cover certain financial needs. The new law requires catch-up contributions for 401(k)s to be made to Roth accounts if you have wages above $145,000 (indeed for inflation).

income tax 128

income tax Tax Start-ups Education 128

CPA Practice

FEBRUARY 1, 2023

For Those in or Nearing Retirement Later Starting Age for Required Minimum Distributions (RMDs) The age at which retirement account owners must start taking RMDs will increase to 73, starting January 1, 2023, and will further raise the age to 75 in 2033. The catch-up amount for people age 50 and older in 2023 is currently $7,500.

Illinois 96

Illinois Start-ups Tax CPA 96

CPA Practice

AUGUST 23, 2023

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. TSCPA has identified five priority areas that are addressed in their 2022-2025 Strategic Plan. Does the Society have any long-term objectives?

Tennessee 97

Tennessee cpas CPA Education 97

ThomsonReuters

APRIL 24, 2024

Overview of the Alabama exclusion of overtime wages On June 8, 2023, Alabama Governor Kay Ivey signed House Bill 217 into law, excluding wages earned for hours worked in excess of 40 in a workweek from gross income, beginning January 1, 2024, through June 30, 2025. The legislation drew bipartisan support. Checkpoint Resources.

West Virginia 52

West Virginia Alabama Legal Tax 52

CPA Practice

MARCH 22, 2024

It would provide appropriations for agencies covered under the Defense, Financial Services, Homeland Security, Labor-HHS-Education, Legislative Branch and State-Foreign Operations bills, or about 70% of annual discretionary funding. Palestinian relief agency and increased funding for Border Patrol agents. Aderholt, R-Ala.

Texas 98

Texas Education Hospitality Construction 98

ThomsonReuters

JANUARY 4, 2024

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead.

tax planning 78

tax planning Tax Technology tax return 78

Nancy McClelland, LLC

JANUARY 10, 2023

One of my favorite presenters — Tom Gorczynski — is giving a free webinar in conjunction with RCReports (one of my favorite apps), and CPA Academy (one of my favorite education platforms) this Thursday, January 12 (to repeat on Thursday, February 2), on Section 199A and how it interacts with Reasonable Compensation requirements.

Education 52

Education CPA tax planning Tax 52

CPA Practice

MARCH 6, 2024

anticipates client needs and streamlines the sales experience for accounting and legal professionals by providing them with highly probable cross-selling recommendations for existing customers, making it the first platform of its kind to maximize revenue opportunities for professional services firms. That’s where Propense.ai Propense.ai

B2B 52

B2B Technology Legal Tennessee 52

CPA Practice

JANUARY 12, 2024

The trust assets and income can be used to pay for items such as travel, education, recreation, rehabilitation and medical expenses that aren’t covered by public assistance. For example, the trust should not use language directing the trustee to use trust funds for support, maintenance, welfare and education of the disabled child.

Education 69

Education Tax Account accountant 69

Going Concern

AUGUST 23, 2023

It is of particular interest to professors, accounting department chairs, other assorted academics, and any accounting profession meteorologists who are tracking the perfect storm of pipeline problems and a completely revamped CPA exam debuting in just a few months. And so do professors in accounting programs. hours to 15.5

CPA 98

CPA accounting degree Education cpas 98

CPA Practice

MAY 9, 2023

The AICPA & CIMA have released a new online learning platform to help accounting and finance professionals improve and update their skills to take advantage of a digital accelerating business environment. According to a 2021 World Economic Forum report , more than half of all employees worldwide will need to reskill or upskill by 2025.

accounting and finance 116

accounting and finance Finance Account accountant 116

Accounting Insight

MARCH 3, 2023

As digital transformation continues to accelerate the evolution of tax and accounting, the players who expedite their embrace of these six tech trends will have an early mover advantage. In the tax and accounting industry, customers want an improved, simplified experience. And that’s just the beginning.

Tax 52

Tax Account accountant accounted 52

CPA Practice

FEBRUARY 7, 2024

For many tax and accounting firms, that information reporting season is getting much busier as more businesses of all sizes are challenged by new 1099 reporting rules. And starting in 2025, the IRS is likely to finally implement even lower dollar amount thresholds for when businesses must prepare and submit form 1099-Ks.

Tax 97

Tax payroll accounts payable CPA 97

Going Concern

MARCH 15, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Accounting giant renews lease in downtown S.F. — Education Sen.

auditor 109

auditor audit cpas Iowa 109

Anders CPA

MAY 25, 2023

Plan sponsors must educate themselves on the upcoming changes to ensure they are prepared to remain compliant with new regulations. Qualified student loans include any indebtedness incurred by an employee solely to pay qualified higher education expenses. Withdrawals can be made from emergency savings accounts tax and penalty-free.

Education 52

Education audit Tax income tax 52

CPA Practice

OCTOBER 20, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. 3541, the Accounting STEM Pursuit Act of 2023 was introduced by Representatives Haley Stevens (D-MI) and Young Kim (R-CA); in the Senate, Senators Susan Collins (R-ME) and Jacky Rosen (D-NV) introduced S.

cpas 52

cpas CPA Education audit 52

CPA Practice

OCTOBER 19, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. 3541, the Accounting STEM Pursuit Act of 2023 was introduced by Representatives Haley Stevens (D-MI) and Young Kim (R-CA); in the Senate, Senators Susan Collins (R-ME) and Jacky Rosen (D-NV) introduced S.

cpas 52

cpas CPA Education audit 52

ThomsonReuters

NOVEMBER 21, 2023

Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning. Many of the TCJA provisions are planned to expire in 2025.

tax planning 52

tax planning Tax payroll tax Education 52

Going Concern

MARCH 22, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Look no further, Accountingfly’s top remote accounting candidates of the week are here.

Minnesota 95

Minnesota cpas audit CPA 95

Dent Moses

JUNE 14, 2023

Key Provisions: The bill exempts Alabama state tax withholding on overtime from January 2024 through June of 2025 – extension will require a renewal by lawmakers. The Legislative Services Agency estimated the bill will cost the Education Trust Fund $34 million for fiscal 2024. Now begins the task of implementation.

income tax 52

income tax Alabama Tax payroll 52

Anders CPA

DECEMBER 8, 2022

The IRS has clarified that those who took advantage of the increased gift tax exclusion between 2018 and 2025 “will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels.” Take this time to maximize your health savings account as well. Manage Flexible Savings Account Funds.

tax planning 52

tax planning Tax Missouri Education 52

ThomsonReuters

FEBRUARY 18, 2021

The publication reflects that, through 2025, student loan payments are permitted under an employer’s qualified educational assistance program (see our Checkpoint article ). [EBIA Comment: At this time, it does not appear that the relief has been extended.]. Student Loan Repayments. Contributing Editors: EBIA Staff.

Tax 98

Tax Transportation Education Legal 98

Going Concern

JUNE 23, 2022

14 or 15 years ago I trolled Bill Sheridan of the Maryland Association of CPAs on Twitter about uncovering a weapons cache they’d stashed on CPA Island, a then-revolutionary virtual space in the game Second Life MACPA had set up for…accounting things. CPA Island is the center of the public accounting profession in Second Life.

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Maryland CPA Gaming cpas 128

CPA Practice

JANUARY 16, 2023

As Michelle Lubbe works toward the online Master’s of Accounting (iMSA) from the University of Illinois at Urbana-Champaign, she instantly puts what she learns to the test. “On In 2020, the World Economic Forum predicted a decline in accounting jobs by 2025. Accounting positions remain in demand, even in the current job market.

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West Virginia Illinois forensic accounting CPA 98