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. million to $11.2 Note: Beginning in 2023, the SECURE 2.0

Tax 119

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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. Anders State and Local Tax advisors closely monitor legislation impacting business owners and taxpayers to educate our clients about the latest tax changes.

Ohio 52

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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. But some are permanent provisions of the tax code.

Tax 85

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Accounting Insight

APRIL 29, 2024

AIA is delighted to announce the recipients of the 2024 AIA Scholarships, funded by the AIA Educational and Benevolent Trust. The AIA Scholarship programme will once again be open to applicants from both the UK and the Commonwealth, with the 2025 applications set to begin soon. You can register for a free ticket here.

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Anders CPA

NOVEMBER 13, 2023

Dispensary owners will be more incentivized to invest in things like budtender education , which will improve employee retention, customer satisfaction, brand recognition and sales. That means they’ll be able to skip the January 15th coupon and expect to receive a significant refund in April 2025. That’s where forecasting comes in.

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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. Aderholt, R-Ala. ©2024 CQ-Roll Call, Inc., All Rights Reserved.

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CPA Practice

JUNE 5, 2023

Scholarship recipients are selected through a competitive application process by the Board of Directors of the Society’s Educational Foundation. The plan covers 2022-2025, and focuses on priority areas such as Connections, Professional Development, Advocacy, Students and Emerging Professionals, and Diversity, Equity, and Inclusion.

CPA 111

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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

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Accounting Today

FEBRUARY 2, 2024

The Illinois CPA Society and its CPA Endowment Fund have begun accepting scholarship applications for the 2024-2025 academic year.

Illinois 73

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CPA Practice

FEBRUARY 1, 2023

You can either schedule it for December 31, 2024, or delay taking the distribution until no later than April 1, 2025. The Act reduces this three-year requirement to two years, effective for plan years beginning in 2025. Retroactive First-Year Elective Deferrals for Sole Proprietors The Act allows sole proprietors (i.e.,

Illinois 96

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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

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CPA Practice

MARCH 6, 2024

to the public in 2025, according to Timothy Keith , CEO and Co-Founder of Propense.ai. The most successful professional services firms are actively engaged in adding service offerings to help their clients, but often struggle with educating their teams on when to offer new services,” Keith said. Propense.ai

B2B 52

B2B Technology Legal Tennessee 52

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.

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CPA Practice

AUGUST 22, 2023

The Institute of Internal Auditors (IIA) – the internal audit profession’s leader in standards, certifications, education, research, and technical guidance worldwide – has approved Malta and Somalia as new affiliates to its global federation, further extending The IIA’s extensive international reach.

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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

CPA Practice

JANUARY 27, 2023

Beginning in 2025, the new law increases the limit for these extra contributions from $7,500 to the greater of $10,000 or 50% more than the regular catch-up limit if you are aged 60 through 63 (indexed for inflation). Reminder: A QCD counts toward your RMD obligations. Caveat: The 529 account must have been open for at least 15 years.

income tax 128

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Cherry Bekaert

MARCH 10, 2023

All organizations must transition to the new ISO 27001:2022 standard no later than October 31, 2025, regardless of the date of original registration. Education and awareness are key components of the planning process.

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ThomsonReuters

JANUARY 4, 2024

Although most clients won’t be affected until 2025, it is essential to prepare them for compliance. Educate clients about this credit, inquire about past claims, and highlight IRS enforcement efforts. Tax Cuts and Jobs Act (TCJA) : Several TCJA provisions are slated to expire in 2025.

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CPA Practice

JANUARY 9, 2024

The Institute of Internal Auditors (The IIA) – the internal audit profession’s leader in standards, certifications, education, research, and technical guidance worldwide – has released new Global Internal Audit Standards. The new standards impact businesses of all sizes, industries, and geographic regions.

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CPA Practice

DECEMBER 11, 2023

which we predict will be mainstream beginning in 2025. I also encourage you to review this list again after the busy season, as you-similar to ChatGPT, will have evolved and have a more educated insight. With change occurring so rapidly, I implore you to “lean in” and allocate time to keep abreast of developments.

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ThomsonReuters

MARCH 9, 2023

Expanded health insurance subsidies are extended through 2025. Education Taxpayers who are paying or saving for their own or their dependents’ education have several opportunities to maximize education-related tax benefits before year-end. What’s new? •

Tax 59

Tax Account accountant accounted 59

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. Some SECURE Act 2.0 Key Takeaways: Many changes enacted by SECURE Act 2.0

Education 52

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PYMNTS

SEPTEMBER 8, 2020

Indian educational technology firm Byju's has gotten a leg up from a $500 million funding round led by private equity titan Silver Lake , Bloomberg reported. The push comes from the current trend in India for parents to seek online alternatives to education due to the pandemic. Byju's valuation is now at about $10.8 And in the U.S.,

Education 53

Education Gaming Technology 53

ThomsonReuters

NOVEMBER 21, 2023

Broaden your year-end discussion to include advice that extends several years ahead and looks at the full picture by suggesting what levers to pull in various scenarios. Consider educating your clients on the following timely tax planning topics: Corporate Transparency Act. Many of the TCJA provisions are planned to expire in 2025.

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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.

Tax 98

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CPA Practice

FEBRUARY 7, 2024

Starting in 2025 (for tax year 2024), the IRS plans to lower the reporting threshold for form 1099-K from $20,000 in payments and more than 200 transactions, to all receiving $5,000 or more, and possibly as low as $600 in the coming years. Failure to do so can result in penalties, but waivers may be given at IRS discretion.

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PYMNTS

OCTOBER 14, 2020

Other ways of introducing potential new users to the service include content “sampling” availability — such as (free) educational content posted on YouTube and through free episodes of some series and original content offered through the site. subscriptions in July — up from 2.6 in February.”

Education 94

Education Retail 94

Going Concern

AUGUST 23, 2023

We’re seeing more of a ripple than a tsunami this year and could be in for a massive drought in 2024 and 2025. I believe all the schools want to give their students the best education to match the needs of the profession. Many have not adapted and are questioning if they even can. It does move. It just doesn’t move in three semesters.

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CPA Practice

MAY 9, 2023

According to a 2021 World Economic Forum report , more than half of all employees worldwide will need to reskill or upskill by 2025. 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.

accounting and finance 115

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Anders CPA

AUGUST 9, 2022

Donors may also exclude from annual and lifetime gift tax exemptions: All gifts of payments of tuition made directly to the donee’s educational institution All payments for medical expenses, including medical insurance, paid directly to the donee’s medical or medical insurance provider. Consider Gifting Now.

Tax 98

Tax tax return Education CPA 98

CPA Practice

MARCH 15, 2024

Caroline Freund, UC San Diego School of Global Policy and Strategy YES: Taxing the rich and big corporations more heavily to reduce soaring inequality while improving access to health care and education makes sense. This was a distribution of wealth preview of 2025—taxpayer beware.

Tax 111

Tax business tax corporation tax Non-Profits 111

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.” The exclusion will rise to $17,000 per individual and $34,000 per married couple in 2023. CONTACT ANDERS.

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CPA Practice

OCTOBER 20, 2023

In 2010 , the AICPA established the Sidney Kess Award for Excellence in Continuing Education to recognize individual CPAs who have made significant and outstanding contributions in tax and financial planning and whose public service exemplifies the CPA profession’s finest values and ethics. 1705, the STEM Education in Accounting Act.

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CPA Practice

OCTOBER 19, 2023

In 2010 , the AICPA established the Sidney Kess Award for Excellence in Continuing Education to recognize individual CPAs who have made significant and outstanding contributions in tax and financial planning and whose public service exemplifies the CPA profession’s finest values and ethics. 1705, the STEM Education in Accounting Act.

cpas 52

cpas CPA Education audit 52

Reckon

AUGUST 18, 2022

However, if you couple education with more secure solutions such as cloud software and storage, eInvoicing over regular invoicing, and multifactor authentication, there’s a lot you can do to mitigate the risks. trillion annually by 2025. Education is undoubtedly your primary tool of defense.

Education 94

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Going Concern

MARCH 22, 2024

“We enter our fiscal 2025 with many of the socio-economic issues we had in fiscal 2024: high inflation and interest rates, tightened lending, uncertainty in the real estate markets, global conflicts.” Under the premise of attracting talent, Minnesota lawmakers are proposing to lower Minnesota’s CPA education standards.

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Going Concern

MARCH 15, 2024

Education Sen. million if they only had a high school degree, according to “The College Payoff,” a report from the Georgetown University Center on Education and the Workforce. 31, 2025, the interconnected nature of these sections means the temporary fix has implications for both. Seven percent are not sure.

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