Cherry Bekaert

NOVEMBER 28, 2023

This is an optimal time a great time to review the 2022 tax preparation process and schedule the timing and people needed for efficient preparation and filing of the company’s 2023 tax returns. Looking forward, companies should begin to plan for the sunset of many tax provisions in the Tax Cuts and Jobs Act (TCJA).

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Steve Feinberg

MARCH 28, 2022

Recently, New Hampshire voters decided to phase out the Interest and Dividends (I&D) Tax starting at 4% for taxable periods ending on or after December 31, 2023, 3% for taxable periods ending on or after December 31, 2024, 2% for taxable periods ending on or after December 31, 2025 and 1% for taxable periods ending on or after December 31, 2026.

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CPA Practice

DECEMBER 11, 2023

AI-powered platforms will help individuals and businesses comply with complex tax regulations, optimize tax strategies, and minimize tax liabilities. Predictions 3-10 are “By 2024.” Core IT Shift : IDC expects the shift in IT spending toward AI will be fast and dramatic, impacting nearly every industry and application.

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ThomsonReuters

APRIL 25, 2024

Additionally, New Hampshire only imposes income tax on interest and dividend income exceeding $2,400, with plans to phase out this tax by 2025. States with no tax on Social Security. In addition to the eight states above, plus New Hampshire, 39 states do not levy income tax on Social Security benefits.

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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.

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xendoo

JUNE 13, 2021

hour on September 30, 2025. We can also help you with your Florida tax preparation , helping you to navigate the laws and changes that are likely to come your way in the immediate future. This post is intended to be used for informational purposes only and does not constitute as legal, business, or tax advice.

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Accounting Insight

MARCH 3, 2023

These trends will lead to an increased interest among tax and accounting firms to outsource tax preparation services to free up staff time to focus on higher-value work. This is fundamentally changing how companies across the world calculate their corporate taxes and shifting where and how offices of finance focus their time.

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ThomsonReuters

OCTOBER 12, 2023

From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. income taxes. For the tax year 2023 (the tax return filed in 2024), this amount increases to $120,000. Plan ahead. Timely filing. The post Overview of U.S.

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LyfeAccounting

JUNE 7, 2021

Now listen, even if you are not able to avoid taxes today or in 2022, or even 2025… …you can still start right now, acquire assets, get passive income and eventually, be able to avoid paying taxes because of the next tip. So how do you get passive income? Well, you have to acquire assets.

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CPA Practice

NOVEMBER 9, 2023

Automating tax and audit workflows “Tax industry professionals struggle with the increased pace of regulatory change and hiring challenges. These solutions help accounting firms increase productivity and profitability with AI-powered automation of tax workflows.

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Withum

MARCH 20, 2024

For the latest news and updates on Montana state and local tax March 20, 2024 Montana Releases Pass-Through Entity Tax Common Issues to Avoid Authored by: Jessie Racioppi and Penny Sweeting , CPA The Montana Department of Revenue released “Common Errors to Avoid when Filing Form PTE – Tax News You Can Use.”

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ThomsonReuters

JANUARY 9, 2024

Another area of interest regarding the increased use of AI in IRS audits is whether or not tax preparers, CPAs, and other practitioners will adjust how they advise a client to avoid a possible red flag if certain information on a tax return falls outside a regular fact pattern. .” Will practitioner guidance change?

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inDinero Tax Tips

JANUARY 16, 2024

It’s always a good idea to double-check with the IRS or consult with a tax professional to ensure you have the most accurate and up-to-date information. At indinero, our accountants and tax professionals are always up to date on the latest tax changes.

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LyfeAccounting

MAY 24, 2021

The President actually recommended that the enhanced credits stay in place until 2025. And there are more aggressive thoughts that want the tax credits to continue indefinitely. Can You Opt-out Of The Monthly Child Tax Credits? How Does It Affect Your Tax Planning? But of course, things are rapidly changing.

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xendoo

FEBRUARY 13, 2023

Pass-through tax deduction (QBI) Congress passed the Qualified Business Income (QBI) deduction as part of the Tax Cuts and Jobs Act. It’s commonly known as the pass-through tax deduction and will end after the 2025 tax year. Your overall business income or loss determines the pass-through deduction.

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CPA Practice

JUNE 21, 2023

Biden agreed to reallocate $10 billion of the IRS’s funding in 2024 and another $10 billion in 2025 to other spending priorities. The IRS hasn’t made a ton of progress in reducing its paper accounts management inventories over the past year. The inventory is just 6% lower than at the same time last year. billion more was cut.

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