Accounting Insight

MAY 8, 2025

Get your accounting practice Making Tax Digital for Income Tax ready with our comprehensive checklist. The MTD checklist includes: What MTD for Income Tax is and what it means for accountants. An outline of the process of MTD for Income Tax and what you need to submit. The benefits of MTD.

income tax 52

income tax Tax Account accountant 52

Withum

JUNE 12, 2024

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. A dramatic increase to the effective tax rate may catch many pass-through entity businesses by surprise.

income tax 127

income tax Tax corporation tax Non-Profits 127

CPA Practice

FEBRUARY 20, 2025

To avoid mistakes and potential processing delays, taxpayers should refrain from filing until they have received all necessarytax documents. Taxpayers should always carefully review documents for inaccuracies or missing information.

income tax 129

income tax tax return Tax 129

CPA Practice

JANUARY 2, 2025

Seven of the states that are lowering their individual income taxes in 2025 have legislatures that are controlled by Republicans, as well as Republican governors.

income tax 119

income tax Tax 119

inDinero Tax Tips

OCTOBER 22, 2024

LLC Taxes in Nevada Here are the primary reasons Nevada is an attractive place to start a business: While the average American pays 8.9% in state income tax, Nevada is one of a handful of states that doesn’t have personal income tax. That said, the state isn’t tax-free.

Nevada 105

Nevada Tax income tax payroll tax 105

Accounting Insight

MAY 6, 2025

The fourteenth edition of Accountex London is around the corner, taking place at Excel on the 14-15 May 2025. New products TaxCalc (Stand 450) are launching their MTD Quarterly Filer, a new bridging tool for Making Tax Digital for Income Tax. Accountex London is taking place at Excel London on the 14-15 May, 2025.

Accounts Payable Automation 52

Accounts Payable Automation accounts payable accounting and finance income tax 52

RogerRossmeisl

AUGUST 28, 2022

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. Here are some examples.

Tax 246

Tax income tax CPA business tax 246

Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

income tax 140

income tax Tax accounting standards financial accounting 140

CPA Practice

OCTOBER 8, 2024

Corporations or LLCs that are owned entirely by Indian Tribal governments and formed under the laws of the Tribes that own them wouldn’t be recognized as separate entities for federal tax purposes and wouldn’t be subject to federal income tax, according to regulations proposed by the Treasury Department and the IRS on Oct.

income tax 119

income tax Tax Washington Government 119

CPA Practice

DECEMBER 14, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions.

income tax 110

income tax Tax accounting standards financial statements 110

CPA Practice

OCTOBER 23, 2024

With the 2025 income tax filing season coming soon, the IRS is encouraging all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). IP PIN users should share their number only with the IRS and their tax preparation provider.

tax return 105

tax return Tax online accounting tax preparation 105

CPA Practice

SEPTEMBER 11, 2024

Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% Bloomberg Tax’s annual Projected U.S. This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023.

Tax 128

Tax income tax corporation tax tax planning 128

Reckon

JANUARY 22, 2025

With 2025 looking like the year of change and adjustment, you need to control what you can manage, like preparing for recurring annual events, and be flexible about goals and projects. What does your small business roadmap look like for 2025? Here is a breakdown of how the SMART framework is used: S: Specific goal.

payroll 52

payroll income tax bookkeeping Sales 52

Xero

APRIL 23, 2025

Heres why you should join us on 14-15 May at Accountex 2025. Our 2025 focus is about empowering you to build a more efficient practice. The post Reasons to come and visit Xero at Accountex London 2025 appeared first on Xero Blog. Wed love to invite you to a partner networking breakfast over the two days. Secure your ticket now.

income tax 56

income tax payroll Tax Education 56

Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required. 2023-09 (ASU 2023-09).

income tax 105

income tax Tax accounting standards financial statements 105

Cherry Bekaert

MAY 16, 2023

S corporations are corporations that elect to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed at their individual income tax rates.

income tax 88

income tax Tax tax return Connecticut 88

CPA Practice

FEBRUARY 15, 2025

The CPA Practice Advisor Weekly Tax News Roundup is a weekly recap of tax-related news from the past week. From IRS news and tax court cases, to state, SALT, legislation and other related areas, the roundup can help you catch-up on recent changes. Let us know if you like this new feature using the. Read more »

CPA 110

CPA Tax income tax tax accountant 110

Accounting Today

DECEMBER 23, 2024

From those with no individual income tax at all, to those with complex tax structures a guide to most and least competitive states when it comes to individual income taxes.

income tax 126

income tax Tax 126

CPA Practice

APRIL 29, 2025

10-11, 2025. Ensuring Success is a 2-day, free online CPE conference that lets you earn up to 14 hours of CPE credits from your office or anywhere else. Register now.

income tax 85

income tax audit payroll accounted 85

CPA Practice

NOVEMBER 26, 2024

First, keep in mind that the IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline to file returns being April 15 (which sometimes varies based on weekends or state holidays). 27, 2025 Feb. What If You Can’t File Your Income Taxes By April 15? 14)** Feb.

Tax 105

Tax tax return income tax CPA 105

Accounting Today

OCTOBER 22, 2024

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

Tax 126

Tax income tax 126

Nancy McClelland, LLC

APRIL 8, 2025

So, first things first: go to MyTax Illinois and log in under your business Username and Password: It will prompt you to verify your security code, usually sent to your business email address, and once you enter the two-factor authentication, you should see your IL business tax dashboard. Go to the “Summary” tab.

Illinois 52

Illinois business tax Tax income tax 52

Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

income tax 97

income tax Tax accounting standards financial statements 97

CPA Practice

MAY 9, 2025

The qualities necessary for success in the fields of accounting and tax have always included a natural inquisitiveness, a keen eye for details, being comfortable working with complex inter-related data, and sometimes working long hours, either due to reporting seasons or project deadlines.

Tax 114

Tax Account accountant accounted 114

Withum

OCTOBER 3, 2024

The tax relief postpones certain tax filing and payment deadlines that started as early as September 22, 2024, to May 1, 2025. May 1, 2025 2024 Form 1065 March 15, 2025 *Postponement date would allow a proper extension until October 30, 2025. What does the filing and payment relief apply to?

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

CPA Practice

FEBRUARY 28, 2025

Most farmers and fishers who chose to forgo making estimated tax payments by January that they must generally file their 2024 federal income tax return and pay all taxes due by March 3, 2025.

income tax 116

income tax tax return Tax 116

Withum

FEBRUARY 14, 2024

Before the 2023 calendar year ended, a new Accounting Standards Update (ASU) was issued by the Financial Standards Account Board (FASB) to update the requirements for income tax disclosures under US GAAP. ASU 2023-09 applies to all entities that are subject to income taxes, but some disclosures are only required for public entities.

income tax 72

income tax Tax accounting standards Account 72

CPA Practice

MARCH 29, 2025

A component of the Tax Reduction Act, the EITC was signed into law by President Gerald Ford on March 29, 1975, and has become one of the federal government's largest anti-poverty programs.

income tax 104

income tax Tax Government 104

CPA Practice

DECEMBER 10, 2024

2 awarded $53 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants for 2025 to organizations that provide free federal tax return preparation. 30, 2025, the IRS awarded grants to 41 TCE and 315 VITA applicants. The IRS on Dec. For the period from Oct.

tax return 82

tax return income tax Tax 82

CPA Practice

JULY 26, 2024

“By cutting costly, for-profit tax filing software out of the equation with the free Direct File tool, we are saving individuals and families in our state time and money.” Eligible taxpayers will be able to use Direct File, which is offered in English and Spanish, for their 2024 tax returns, which have a deadline of April 15, 2025.

New Jersey 105

New Jersey tax return income tax Tax 105

Going Concern

NOVEMBER 8, 2024

Tax Steps companies should take now to prepare for major tax legislation in 2025 [ EY ] Whether you call it the “Super Bowl of Tax” or “Taxmageddon,” one thing is clear: Congress is all but certain to consider major tax legislation in 2025.

Florida 98

Florida Mississippi audit auditor 98

Withum

FEBRUARY 27, 2025

IRS-CI is the law enforcement arm of the IRS tasked with investigating violations of income tax, money laundering, and Bank Secrecy Act laws. Its the only federal agency that dedicates 100% of investigative time to financial investigations and has sole authority to investigate violations of US income tax laws.

income tax 76

income tax Tax accountancy courses accounting courses 76

CPA Practice

OCTOBER 30, 2023

The IRS said on Monday that it will allow electronic signatures to be used on certain tax forms “indefinitely until more robust technical solutions are deployed.” 31, 2025, the ability to use encrypted email when working directly with IRS employees to clear up tax-related issues or concerns.

tax return 132

tax return income tax Real Estate Tax 132

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. In all of these states, the relief period ends on May 1, 2025 (postponement period).

South Carolina 130

South Carolina North Carolina Tax Alabama 130

Withum

AUGUST 14, 2024

The relief provided in IR-2024-205 postpones various tax filing and payment deadlines that occurred beginning on August 1, 2024, in Florida, August 4, 2024, in Georgia and South Carolina, and August 5, 2024, in North Carolina – the postponement period.

South Carolina 126

South Carolina North Carolina Georgia Florida 126

Withum

JANUARY 2, 2024

Pennsylvania Senate Bill 815, signed into law on December 14, 2023, amended the Pennsylvania tax code to recognize irrevocable grantor trusts for tax years beginning after January 1, 2025. These transactions will now be disregarded for Pennsylvania income tax purposes as well.

Pennsylvania 78

Pennsylvania income tax Tax tax return 78

CPA Practice

OCTOBER 4, 2024

The Internal Revenue Service says its Direct File program has added 12 new states and will be available for the 2025 tax filing season. For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin.

Alaska 126

Alaska South Dakota North Carolina tax return 126