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Professionals on the Move – May 2024

CPA Practice

Erin Eberly has been named the partner-in-charge of KSM’s tax services. In this role, Eberly leads tax professionals across the firm to deliver tax compliance and consulting services with excellence. Karin Ecroyd has joined the firm in New York City, New York, and Scott Smith has joined in Nashville, Tennessee.

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What's new in May for state sales and use taxes

TaxConnex

Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Kansas and Tennessee just became the latest states to green light such exemptions. million in taxes a year on the sale of groceries. Texas sales tax revenue totaled $3.83 Food for thought.

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Friday Footnotes: Working Late; The Year of the ESOP?; It’s Not Layoffs, It’s “Repositioning” | 1.5.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. And take our 2024 Predictions for the Accounting Profession survey ! Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Tax rate Single individual income Married (filing jointly) income 10% $10,275 or less $20,550 or less 22% $41,775 $83,550 24% $89,075 $178,150 32% $170,050 $340,100 35% $215,950 $431,900 Updates to Small Business Tax Rates The IRS updates small business tax rates yearly to account for inflation or other economic changes.

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Cash Infusion for Clean Energy Initiatives

Withum

Generally, entities that can make a direct-pay election include tax-exempt organizations, State or political subdivisions, local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority, rural electric co-ops, U.S. Once an election is made to transfer a credit, it is irrevocable.

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