CPA Practice

DECEMBER 11, 2023

AI’s influence is pervasive and ever-growing, from self-driving cars to personalized healthcare. As we enter 2024, it’s natural to wonder what the future holds for this transformative emerging technology, especially for accountants. You should be able to listen to this session and others from Ensuring Success at [link].

Technology 124

Technology audit E-commerce accounting principles 124

ThomsonReuters

APRIL 25, 2024

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Individuals withdrawing funds from their 401(k) plans may be subject to state income taxes depending on where they reside.

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

MyIRSRelief

MAY 1, 2024

They can advise on maximizing retirement contributions, choosing the most advantageous business entity, and implementing investment options that minimize your overall tax burden on forms like 1120, 1120S, and 1065. Time Efficiency: Tax preparation and research are notorious time-sinks.

Tax 130

Tax tax planning audit Non-Profits 130

ThomsonReuters

MARCH 1, 2024

Contributions to a shareholder/employee’s retirement plan are also tax exempt. Healthcare insurance: Healthcare premiums can be expensed as wages and are therefore deductible, which exempts them from FICA taxes. Therefore, business owners can save on taxes by having the S corp pay for their healthcare coverage.

corporation tax 52

corporation tax Tax tax return income tax 52

Going Concern

FEBRUARY 16, 2024

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. public accounting firms, however, turnover has continued to increase.

Real Estate 103

Real Estate Iowa audit CPA 103

ThomsonReuters

FEBRUARY 8, 2022

When you seek to win new tax clients, it’s best to start at the beginning. With so many generations in need of tax and accounting services in the market today, it can be a challenge to discover what a client truly wants or needs, or how they want to connect with you. That’s the first step to winning new business.

Tax 105

Tax Entertainment payroll bookkeeping 105

LyfeAccounting

AUGUST 10, 2021

The tax code was written to provide for the average taxpayer, rather than to incentivize them. The government wants to make sure that this person has access to jobs, affordable housing, healthcare, and so forth. Therefore, the tax code does not incentivize the average taxpayer as much.

Real Estate 52

Real Estate Tax tax return tax preparation 52

PYMNTS

MAY 9, 2018

Or, they can be creative arts performers, such as voiceover artists; technical service providers, such as programmers, and professional service providers, such as attorneys and tax accountants. These workers are unlikely to be displaced by job automation due to the creative and specialized service-oriented nature of what they do.

Kansas 40

Kansas Healthcare tax preparation tax return 40

LyfeAccounting

APRIL 22, 2021

To help you get started, here are a few of the top tax credits available for small business owners at this time: Opportunity Zone Credit. Small Business Healthcare Tax Credit. Business Energy Tax Investment Credit. Here’s a full list of business tax credits from the IRS website. Employer Retention Credit.

Tax 52

Tax Virginia Georgia income tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

1099-MISC Items such as rent payments, royalties, attorney settlements (as mentioned above, not payments for legal services ), and medical healthcare payments will still be reported on Form 1099-MISC , though the form has been redesigned and the boxes renumbered. The IRS is now planning a phase-in of $5,000 for tax year 2024.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

1099-MISC Items such as rent payments, royalties, attorney settlements (as mentioned above, not payments for legal services ), and medical healthcare payments will still be reported on Form 1099-MISC , though the form has been redesigned and the boxes renumbered. The IRS is now planning a phase-in of $5,000 for tax year 2024.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52