article thumbnail

Hawaii to Offer Tax Amnesty to Switch Short Term Rentals to Long Term

CPA Practice

Hawaii has some of the highest median home prices and rents in the country — and a persistent housing crisis. Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? By Gail Cole. Governor Josh Green thinks so.

Hawaii 116
article thumbnail

IRS Again Extends Income Tax Deadline For Hawaii Wildfire Victims

CPA Practice

8, 2023, wildfires in Hawaii. 2023 contributions to IRAs and health savings accounts for eligible taxpayers. The news release said this tax relief is available to individuals and households that live in or have a business in Maui or Hawaii counties, as designated by the Federal Emergency Management Agency’s disaster declaration.

Hawaii 59
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Hawaii was Best State at Preventing Covid Deaths

CPA Practice

Hawaii was one of the top-performing stats when it came to responding to the COVID-19 pandemic, according to study recently published in The Lancet. On the other hand, Hawaii did not fare so well when it came to employment and economic health, which tanked during the pandemic. Hawaii, under the leadership of former Gov.

Hawaii 69
article thumbnail

Sales tax and accounting services

TaxConnex

Tax preparers are generally accredited individuals – certified public accountant (CPA) and enrolled agent (EA) are two common preparer designations – who have completed previous and ongoing education to understand compliance for varied tax purposes. Accounting services are often, but not always, exempt.

article thumbnail

Here’s the Salary a Person Needs to Actually Take Home $100,000 in Every State

CPA Practice

The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes. But bringing that amount home will require good deal more income, according to a recent analysis. Census Bureau data that showed the median household income in Alabama in 2022 was $59,609.

article thumbnail

IRS Cautions Tax Pros About New EFIN Email Scam

CPA Practice

Please provide a copy of your EFIN Account Summary from IRS e-Services, with a status of ‘Completed’, to Software B for verification. Sign in to your IRS e-Services account 2. Hawaii-Aleutian. Hawaii-Aleutian. Hawaii-Aleutian. Hawaii-Aleutian. Hawaii-Aleutian. Click the e-File Application link 5.

Hawaii 124
article thumbnail

What is an IRS CP14 notice? Options for balance due for unpaid taxes

MyIRSRelief

When to Seek Help from a Certified Public Accountant A certified public accountant (CPA) is a licensed professional who has met certain education, experience, and examination requirements. CPAs are qualified to provide a wide range of accounting, tax, and consulting services.