CPA Practice

AUGUST 15, 2023

Jared is a popular speaker and advisor due to his expansive knowledge of current tax policies, cybersecurity, and industry trends. Ann Campbell , CPA CIA, joined Drake Software in 2021 as a Tax Software Trainer. A veteran of accounting journalism, she also speaks at many accounting events, trade shows, and webinars.

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CPA Practice

FEBRUARY 1, 2023

For Those in or Nearing Retirement Later Starting Age for Required Minimum Distributions (RMDs) The age at which retirement account owners must start taking RMDs will increase to 73, starting January 1, 2023, and will further raise the age to 75 in 2033. The catch-up amount for people age 50 and older in 2023 is currently $7,500.

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Anders CPA

JANUARY 1, 2024

In 2024, there are several updates to various payroll tax withholding limits, including Social Security tax and 401(k) elective deferrals. For employees, minimum wage is increasing in Missouri and Illinois. Social Security Tax Withholding For 2024, the Social Security tax wage base for employees will increase to $168,600.

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ThomsonReuters

JUNE 28, 2021

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Chicago/Cook County, Illinois: $14.00 This includes withholding taxes. Federal News.

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ThomsonReuters

JANUARY 16, 2024

Among the key retirement provisions in the Act are: Expanding automatic enrollment in retirement plans; increasing the age for the required beginning date for mandatory distributions; a higher catch-up limit to apply at ages 60, 61, 62, and 63; and eliminating the additional tax on corrective distributions of excess contributions.

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inDinero Tax Tips

APRIL 20, 2021

Partnership entities such as limited partnerships, limited liability corporations, and general partnerships are not required to file an annual report in Delaware, but they do pay a $300 tax annually. The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state.

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Going Concern

FEBRUARY 23, 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. million in related income that she and her husband had earned from 2012 through 2014.

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Going Concern

AUGUST 25, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.

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Going Concern

OCTOBER 27, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. They also expressed doubt IRS would deliver on its promise to not increase audits on those making less than $400,000 per year, promising to hold IRS Commissioner Danny Werfel accountable. “My

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ThomsonReuters

MARCH 1, 2021

This makes a business’s payroll department very important since it is typically an employer’s greatest expense. And arguably the most important (and challenging) time to be a payroll professional, is during the period known as “year-end.” This can make March an interesting month for payroll professionals. Federal News.

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