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Accounting Students from University of Nebraska Win 2024 Deloite FanTAXtic Competition

CPA Practice

A team of students from University of Nebraska , Lincoln, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case. After all, the success of any organization lies in its people, their skills and their passion.

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Friday Footnotes: PwC Slashes Partner Class; Accounting Firm Rescues Dog; Do We Still Need CPAs? | 4.19.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. The Big Four accounting firm is considering adding about 85 U.S.

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Accountants Aren’t the Most Concerned About AI’s Impact—Except in One State

CPA Practice

Coming on the heels of a Moss Adams study that revealed 69% of accountants believe artificial intelligence has a positive impact on the accounting profession, a new report from AI customer support company DevRev found that accountants don’t fear AI advancements the most among professionals in the U.S.

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State Pass-Through Entity Tax Updates: September 2023

Cherry Bekaert

These can be filed online through a taxpayer’s Revenue Online account beginning September 1, 2023, and until June 30, 2024. Taxpayers affected will automatically have their accounts adjusted to reflect the abated penalty. Illinois The Illinois Department of Revenue recently issued an Informational Bulletin FY 2024-03.

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Sales and Use Tax Updates from March

TaxConnex

Nebraska has released guidance on the handlings of use tax in the state regarding remitting use tax, exemptions, interest and penalties. Use tax remittances are paid by the purchaser to Nebraska using one of two returns. Businesses with sales tax permits may use Nebraska and Local Sales and Use Tax Return, Form?

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How the 50 States Rank By Lifetime Taxes

CPA Practice

Taxpayers in Washington will pay the most on everyday expenses ($83,014), followed by those in California ($78,191), accounting for food, clothing, personal care, and entertainment. Nebraska $1,441,423 $546,354 37.9% Nebraska $1,441,423 $546,354 37.9% Connecticut $1,731,261 $855,307 49.4% Vermont $1,442,094 $651,434 45.2%

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Are Digital Ad Taxes Spreading?

TaxConnex

The ambiguity could lead to double taxation, with multiple entities paying taxes on gross receipts from the same ad being served to a viewer , and “ lawmakers have failed to take the complexity of digital advertising into account in structuring the proposed tax ,” the Foundation added.