CPA Practice

APRIL 19, 2024

By 2027, marketplaces may account for 59% of ecommerce globally. Utah will likely do the same in 2025. Remit sales tax to the proper tax authority Once sales tax has been collected as required, it must be remitted on time with a sales tax return to the proper tax authority. By Gail Cole.

Tax 59

Tax Wyoming Alaska Louisiana 59

CPA Practice

OCTOBER 20, 2023

AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. Among the warning signs, businesses should be wary of vendors that require large, contingency fees and those who fail to sign the amended payroll tax returns. 1705, the STEM Education in Accounting Act.

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. Among the warning signs, businesses should be wary of vendors that require large, contingency fees and those who fail to sign the amended payroll tax returns. 1705, the STEM Education in Accounting Act.

cpas 52

cpas CPA Education audit 52

xendoo

MARCH 14, 2023

The QBI deduction is only available to pass-through entities between the tax years 2018-2025. A pass-through entity is a business that doesn’t need to file a separate business tax return. Instead, the owners report business income on their personal income tax returns.

tax return 52

tax return Real Estate bookkeeping Tax 52

xendoo

MARCH 14, 2023

The QBI deduction is only available to pass-through entities between the tax years 2018-2025. A pass-through entity is a business that doesn’t need to file a separate business tax return. Instead, the owners report business income on their personal income tax returns.

tax return 52

tax return Real Estate bookkeeping Tax 52

Going Concern

AUGUST 4, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Practice How one small firm drastically cut its busy-season hours [ Journal of Accountancy podcast ] Johanna Sweaney Salt, CPA, CGMA, used to work 100 hours a week during busy season.

cpa firm 95

cpa firm CPA accounting firms accounting and finance 95

Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

income tax 80

income tax Tax accounting standards accounting and finance 80

LyfeAccounting

MAY 24, 2021

. $300/month for people who qualify for the $3,600 and $250/month for those people who qualify for the $3,000 child tax credit. Now, these are tax credits. Let us repeat, tax credits, which means this is not a stimulus check. You can think of this more as an advance on your 2021 tax return.

Tax 52

Tax tax return tax planning accounting and finance 52

LyfeAccounting

JULY 1, 2021

But in 1931, Capone was found guilty of 22 counts of federal income tax evasion and was convicted to 11 years in federal prison, in addition to $215,000 plus interest due on back taxes. You see, despite publicly displaying his wealth, Capone never filed a Federal tax return. And, we also offer tax resolution services.

Tax 52

Tax Gambling tax return income tax 52

Withum

FEBRUARY 1, 2023

Every year the top dealership accounting firms and CFOs converge to discuss the latest hot topics as they relate to dealerships and dealership accounting issues. In order to use the LIFO method, a taxpayer must file Form 970 with their tax return to make the election. NADA is optimistic that the bill will Pass.

accounting and finance 52

accounting and finance income tax Tax CPA 52

inDinero Tax Tips

SEPTEMBER 13, 2023

brought is modified catch-up contributions for retirement accounts. This expansion allows individuals aged 50 or older to stash more in their retirement accounts. Starting from 2024, these catch-up contributions must be deposited into Roth accounts. Modified Catch-Up Contributions Another change the SECURE Act 2.0

business tax 80

business tax Tax Start-ups accounting and finance 80

Withum

JULY 26, 2023

Any adjustment needed for a 2022 federal income tax return already filed which included the capitalization of research and experimental expenditures can either be amended or, at the taxpayer’s election, be treated as an automatic change in the method of accounting in the 2023 taxable year.

Tax 52

Tax income tax Manufacturing accounting and finance 52

Withum

NOVEMBER 17, 2022

For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada. Consider increasing the amount you set aside for next year in your employer’s health flexible spending account (FSA). Tax-Advantaged Accounts. Year-End Tax Planning for Businesses. Capital Gain Planning.

tax planning 98

tax planning Tax Construction income tax 98

LyfeAccounting

OCTOBER 29, 2020

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. A fair tax system should produce similar outcomes. Child Tax Credits. Why does it matter?

tax planning 52

tax planning Tax corporation tax Real Estate 52

ThomsonReuters

DECEMBER 29, 2020

Section 207 extends through March 14, 2021 the CARES Act provision that provided temporary 100% federal financing for short-time compensation (“worksharing”) programs which are established in state law. Employer tax credit for paid family and medical leave. Extension of short-time compensation. Indian employment credit.

payroll 118

payroll Non-Profits Agriculture payroll tax 118