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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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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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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.

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House Bill Proposes to End Social Security Tax for Retirees

CPA Practice

Bill to eliminate tax on Social Security Eliminating federal income tax on Social Security retirement benefits could benefit many retirees, especially those who receive other types of taxable income, such as from wages or distributions from retirement accounts. Missouri and Nebraska stopped taxing Social Security this year).

Tax 131
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Why More Small Businesses Owners Are Offering 401(k) Plans to Employees

CPA Practice

TNS) If your small business doesn’t offer a retirement account to your employees, now may be a good time to change that. Rhett Stubbendeck introduced a 401(k) retirement program to all employees at his Omaha, Nebraska-based insurance company LeverageRx in January. By Brit Morse, Inc.

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