Going Concern

DECEMBER 24, 2024

” If approved, the earliest effective date of the firm-level metrics will be October 1, 2027, with the first reporting as of September 30, 2028, and engagement-level metrics for the audits of companies with fiscal years beginning on or after October 1, 2027.

audit 105

audit accounting firms auditor financial statements 105

CPA Practice

JULY 7, 2025

The Senate bill includes the following provisions that the AICPA has endorsed in the past: An increase in the standard deduction for years 2025-2028. Following the release of the reconciliation bill by the Senate, the AICPA has identified several provisions it supports.

cpas 85

cpas accounting and finance CPA Technology 85

Xero

JUNE 3, 2025

It will then extend to those earning over 30,000 from April 2027 and anyone earning over 20,000 from April 2028. Anyone with an annual turnover of over 50,000 for the tax 24/25 year will need to start complying from April 2026. Master MTD for IT with confidence MTD for IT will likely feel like a big change for many small businesses.

Technology 104

Technology bookkeeping income tax accounting and finance 104

Withum

JUNE 26, 2025

While the House proposal shortens the current opportunity zone designation to December 31, 2026, and provides for an additional OZ investment to be designated from January 1, 2028 through December 31, 2033, the Senate bill would not adjust the current OZ program and would provide for a rolling 10-year OZ designation beginning on January 1, 2027, making (..)

Real Estate 94

Real Estate accounting and finance audit Tax 94

Shay CPA

FEBRUARY 10, 2025

calendar years. During the critical first year, they only deduct $100,000, inflating their taxable income (or reducing net operating losses) far more than before.

accrual accounting 52

accrual accounting Tax CPA payroll tax 52

Going Concern

JUNE 20, 2025

DOD Will Pass Audit by 2028, Comptroller Confirms [ US Department of Defense ] The Marine Corps has already passed a financial audit, and the Defense Department has until 2028 to do the same, the department’s comptroller said today during a hearing before the Senate Armed Services Committee in Washington.

auditor 58

auditor accounting firms Technology Account 58

Accounting Today

JULY 16, 2025

Agentic AI to handle 68% of customer service/support by 2028 Wanan - stock.adobe.com Ciscos latest research predicts that agentic AI will handle 68% of customer service and support interactions by 2028. But by 2028? But your thoughts are your thoughts and should always be 100% you.

Technology 64

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CPA Practice

JUNE 18, 2025

The Senate bill includes the following provisions that the AICPA has endorsed in the past: An increase in the standard deduction for years 2025-2028. Following the release of the reconciliation bill by the Senate, the AICPA has identified several provisions it supports.

Tax 87

Tax Technology income tax payroll 87

Menzies

JULY 14, 2025

Further, those who previously claimed the remittance basis may benefit from the Temporary Repatriation Facility (TRF) , available from 6 April 2025 to 5 April 2028. Distributions matched to income pools continue to be taxable at the beneficiary’s marginal rates.

Tax 52

Tax chartered accountant income tax Legal 52

Menzies

APRIL 16, 2025

Your qualifying income exceeds the MTD thresholds: 50,000 in tax year 2026/27 (based on 2024/25 earnings) 30,000 in tax year 2027/28 (based on 2025/26 earnings) 20,000 in tax year 2028/29 (based on 2026/27 earnings) How is qualifying income calculated? If you commenced trading partway through the year, your income will be annualised.

Tax 52

Tax chartered accountant Non-Profits accounting firms 52

Withum

JULY 8, 2025

For context, the House had proposed making the Tax Cuts and Jobs Act’s nearly doubled standard deduction permanent (approximately $15,000 single / $30,000 joint for 2025, with an additional temporary boost of $1,000/$2,000 through 2028). The Senate countered with a more generous, permanent deduction of $1,000 for singles ($2,000 joint).

Tax 64

Tax Non-Profits Education Transportation 64

Insightful Accountant

JUNE 30, 2025

Wind and solar projects must now be placed in service by 2028 to qualify for the section 45Y clean energy production credit, tightening the timeline from the previous requirement of merely beginning construction by that date.

general ledger 52

general ledger Alaska New Hampshire Construction 52

Dent Moses

JULY 8, 2025

Senior Deduction: The Act provides a $6,000 deduction for individual taxpayers who are aged 65 or older from 2025-2028. Tips & Overtime: Temporarily allows above-the-line deductions for up to $25,000 in tips and $12,500/$25,000 in overtime (single/joint) through 2028, phased out starting at $150,000/$300,000 (single/joint) MAGI.

Gambling 49

Gambling Manufacturing Construction Tax 49

Withum

JULY 1, 2025

In addition, provides for an additional increase in the standard deduction of $1,500 for head of household filers, and $1,000 for single and married filing separate filers for taxable years starting in 2025 and ending in 2028. Provides an additional OZ investment to be designated from January 1, 2028, through December 31, 2033.

Tax 104

Tax income tax Education tax services 104

SkagitCountyTaxServices

JULY 2, 2025

in overtime wages become federally income-tax-free per employee (until 2028), helping you attract and retain workers if you’re in a high-tip industry. built vehicles through 2028 (but only if you buy new). Second, it’s temporary – gone after 2028 unless Congress extends it. This is a temporary benefit through 2028.

income tax 53

income tax payroll payroll tax Tax 53

CPA Practice

JULY 1, 2025

According to a Gartner analysis, 33% of enterprise software applications will include agentic AI by 2028, up significantly from where it stood in 2024, at less than 1%.

Technology 66

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CPA Practice

JUNE 5, 2025

According to a Gartner analysis, 33% of enterprise software applications will include agentic AI by 2028, up significantly from where it stood in 2024, at less than 1%.

Technology 72

Technology payroll audit payroll tax 72

Accounting Insight

MAY 9, 2025

from 6 April 2028, their total gross income from their self-employment and/or property exceeds 20,000 in 2026-27. The first tax year that will include the income from this business will be 2026-2027, which would need to be finalised by 31 January 2028. Who is exempt from MTD for Income Tax?

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Accounting Insight

MAY 2, 2025

The tax system has not moved since 2009, and unless politicians decide to suddenly bring in change, it will stay as it is at least until 2028. Lets understand the complex IHT benefits in simpler terms so you can save a bigger slice from going away in taxes. 1The Nil-Rate Band (NRB) The nil-rate band is the cornerstone of IHT.

Tax 52

Tax Maine accounting and finance Government 52

Dent Moses

JUNE 9, 2025

Family & Education Tax Benefits (Extended with Tweaks) The enhanced child tax credit would be $2,500 from 2025–2028, then revert to $2,000. Retirement Incentives (Partially Addressed) No changes to IRA or 401(k) limits are proposed, but the bill introduces a $4,000 senior bonus deduction, phasing out above $75,000 in income before 2028.

Tax 52

Tax corporation tax income tax New York 52

CPA Practice

JULY 15, 2025

Trump accounts: What they are and how they’ll work The so-called Trump accounts are part of Trump’s “One Big Beautiful Bill Act” that passed through Congress and was signed into law on July 4. Here’s how the accounts will work: The federal government will contribute $1,000 to an investment account for every American baby born between Jan.

Technology 66

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Menzies

MARCH 26, 2025

in 2028 and 1.8% They also predict a rise on the average inflation to 3.2% next year before it begins to fall. The OBR have downgraded the UKs 2025 growth forecast from 2% to 1%. More positively, they have forecast growth to hit 1.9% in 2026, 1.8% in 2027, 1.7%

Hospitality 52

Hospitality chartered accountant income tax Maine 52

Menzies

JULY 14, 2025

This facility offers a time-limited window, from 6 April 2025 to 5 April 2028, during which eligible individuals may elect to bring previously untaxed foreign income and gains into the UK at significantly reduced tax rates. It should be assessed and taken advantage of now, while available, before this opportunity is lost forever.

income tax 52

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Churchill-Knight

OCTOBER 30, 2024

Income Tax band thresholds will be unfrozen in 2028 to prevent people from being dragged into higher tax bands as their wages rise, and they will rise in line with inflation. The rate of Employers National Insurance is also increasing 13.8% Income Tax The rates of Income Tax and National Insurance paid by employees will remain the same.

income tax 52

income tax Non-Profits Hospitality corporation tax 52

Withum

APRIL 21, 2025

His leadership on Withums Board of Directors and the Firms strategic Vision 2028 committee has positively impacted the Firms evolution and team member growth and development. With over 30 years of experience in business advisory and public accounting, Kirk has been a driving force behind Withum’s growth and success.

New Jersey 103

New Jersey public accounting Sales accounted 103

Withum

JULY 16, 2025

Car Loan Interest Deduction For years 2025 through 2028, the bill allows a deduction of up to $10,000 per year for interest paid on a qualifying car loan, provided the final assembly is in the United States. This deduction applies whether the individual itemizes or takes the standard deduction.

Rhode Island 52

Rhode Island income tax Tax New Hampshire 52

CPA Practice

JULY 4, 2025

EVs will be as cheap or cheaper than gas-powered iterations by roughly 2028 (Goldman Sachs estimates that rubicon could be crossed even sooner). Dealer incentives on a Nissan Leaf, she said, mean “you can get that vehicle for less than $20,000” in some cases. BNEF expects U.S. Nearly 60% of U.S.

Tax 90

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CPA Practice

JULY 4, 2025

President Donald Trump held an outdoor signing ceremony at the White House on Friday, formally enacting a major tax and spending bill that passed through the Senate and House earlier in the week.

Tax 93

Tax income tax business tax 93

TaxConnex

JULY 12, 2022

The state extended its sales and use tax exemption for coal and aggregate exploration, mining, off-highway hauling, processing, maintenance and reclamation equipment to July 1, 2028. Georgia has amended the exemption from sales and use tax on the sale or lease of computer equipment to be used by qualifying Georgia high-tech companies.

Sales 246

Sales Tax Oklahoma Illinois 246

TaxConnex

MAY 10, 2022

The exemption, covering all common forms of bullion, now runs until 2028. has become the second state this year to expand its sales tax exemption involving gold and silver. Connecticut has ruled that online learning plans were not taxable digital goods.

Sales 242

Sales Mississippi Tax Non-Profits 242

CPA Practice

AUGUST 22, 2023

A survey of more than 1,200 individuals working internationally shares the predicted impact that generative AI will have on the future of professional work. The survey showed 67% of respondents believe AI will have a transformational or high impact on their profession in the next five years.

Legal 98

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Cherry Bekaert

MAY 10, 2023

HB 241 extends the sunset date for the AJA from July 31, 2023, to July 31, 2028, and increases the annual funding cap by $25 million each year from $375 million in 2023 to $475 million in 2027. HB 241 also has favorable impacts on the Growing Alabama Act (GAA) by extending the sunset date for the GAA to July 31, 2028.

Mississippi 98

Mississippi Alabama Tax income tax 98

CPA Practice

FEBRUARY 21, 2023

The IRS receives nearly 4 billion information returns per year and expects to receive nearly 5 billion by 2028. In 2021, about 82% of all corporate income tax returns were e-filed, and almost 90% of partnership tax returns were e-filed.

tax return 130

tax return income tax Tax 130

Withum

SEPTEMBER 12, 2024

Many of the tax changes in the 2017 TCJA, however, may not be here to stay and are scheduled to sunset between 2025 and 2028, if not extended by Congress. 117-169, IRA) extended this limitation to 2028. The Tax Cuts and Jobs Act (TCJA), enacted on December 22, 2017, indeed stands as one of the most significant overhauls of the U.S.

Tax 96

Tax income tax Legal CPA 96

Cherry Bekaert

JUNE 18, 2024

Therefore, South Carolina taxpayers who may qualify for the trails credit should plan to take advantage of the credit from tax years 2024 through 2028. The new credit is set to expire on January 1, 2029.

South Carolina 111

South Carolina Real Estate Tax income tax 111

Going Concern

SEPTEMBER 11, 2024

Off to go dig around in EDGAR to find more accounting firm/private equity transaction deets, brb. The post Let’s Look at Apollo’s 10-Q to Get Specifics on Their Deal with BDO appeared first on Going Concern.

Florida 63

Florida accounting and finance accounting firms Finance 63

TaxConnex

DECEMBER 1, 2022

The exemption does not apply to any tax levied by a county, city or district and it sunsets in 2028. Effective Jan. 1, the exemption is part of the state’s Clean Cars 4 All Program to reduce greenhouse gas emissions.

Sales 130

Sales Tax Alaska Louisiana 130