CTP

NOVEMBER 15, 2023

The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! But another problem is that the accounting industry is not trained how to LOOK FOR NEW ways to reduce your taxes that you have not yet taken advantage of. Why do so many pay more than they have to?

tax planning 111

tax planning Tax tax preparation tax return 111

Going Concern

NOVEMBER 10, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. “Financial reporting leaders, but also investors, regulators, and other stakeholders in the capital markets expect AI to drive audit quality. .

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audit accounting and finance auditor Mississippi 99

CPA Practice

JUNE 12, 2023

There is perhaps no industry in which this dynamic is more apparent than accounting; 75% of accounting processes are largely manual, according to a recent Deloitte survey of accounting professionals. This demonstrates the potential impact that automation can have — and is already having — on the day-to-day lives of accountants.

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Account accountant accounted accounting and finance 122

TaxConnex

JUNE 20, 2023

South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. In 2021, the Government Accountability Office estimated nationwide remote sales tax collections to be about $30 billion. Some states never adopted one.) Starting Aug. We’ll keep you posted.

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South Dakota North Dakota Wisconsin Iowa 185

ThomsonReuters

JANUARY 26, 2023

The attempt to withdraw the rule was legally challenged and a federal court vacated the action on March 14, 2022, leaving the 2020 final rule in effect. Legal insights into the proposed rules Payroll on Checkpoint discussed the proposed rules with Todd Lebowitz, a partner at BakerHostetler.

Legal 59

Legal California Tax New Jersey 59

Ryan Lazanis

SEPTEMBER 19, 2023

In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. As such, instead of promoting your accounting skills, always prioritize client-centric messaging throughout your website. Let’s go!

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Account accountant accounted bookkeeping 98

MyIRSRelief

FEBRUARY 8, 2023

They can also help to ensure that your return is accurate and free from errors, which can avoid the risk of audits and fines from the Internal Revenue Service (IRS). This involves assessing your current financial situation, determining your tax obligations, and identifying opportunities to reduce your tax burden through legal means.

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tax services Tax tax preparation tax planning 130

Going Concern

MAY 3, 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. Treasury has today released two consultation papers on the adequacy of current settings.

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institute of chartered accountants Technology cpas chartered accountant 91

TaxConnex

JUNE 22, 2023

Government Accountability Office. The birth-state of Wayfair joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. But the latter then had to evaluate changing tax responsibilities under economic nexus thresholds and physical presence standards. As of Aug.

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South Dakota North Dakota Colorado Minnesota 130

Withum

JANUARY 15, 2024

The Client The client is a labor organization based in California in the public safety sector. They have multiple legal entities, including a not-for-profit. The Results and ROI Optimizations to the Chart of Accounts and dimensions led to a remarkable 20% reduction in General Ledger accounts.

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quickbooks Approval Workflows Non-Profits general ledger 52

Going Concern

JUNE 14, 2022

12 years ago my former colleague Caleb Newquist published a post titled “Do Accounting Firms Care if You’re On Drugs?” are. ” is a hugely popular question based on my seeing it every other day on my regular rounds through the internet’s accounting halls. Well that was…interesting. I know mine was.

accounting firms 98

accounting firms Account accountant accounted 98

Going Concern

DECEMBER 9, 2022

Financial advisory company AlixPartners was chosen for the task and is led by former Securities and Exchange Commission (SEC) chief accountant Matt Jacques, according to a Dec. Blockchain Entrepreneur Arrested in California on Fraud Charges [ Coindesk ]. Check out these remote accounting jobs at Accountingfly.

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TaxConnex

NOVEMBER 18, 2021

It’s generally better to be proactive in understanding and mitigating your sales tax risk rather than waiting for a jurisdiction to identify you for audit. A VDA is a legal means for taxpayers to self-report back taxes owed for income, sales, property and other tax types. When do your sales tax obligations and liability start?

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Sales Tax Non-Profits audit 177

ThomsonReuters

JANUARY 9, 2024

Conversely, Creech explained that the AI tools the IRS uses have seen “significant improvements” in areas that include partnerships where the audits are more targeted and have been much better than anything Creech has seen before. “What happens when the IRS AI finds [an issue] because it’s 1.2 6651 and Code Sec.

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audit Legal Tax tax return 98

Cherry Bekaert

MAY 20, 2024

ROV requests that allege discrimination could be routed to the appropriate compliance, legal, and appraisal review staff that have the requisite skills and authority to research and resolve the request). This advisory reminds institutions of the information required to be collected from the customer prior to account opening.

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Real Estate Texas Hawaii Nevada 102

inDinero Tax Tips

DECEMBER 13, 2021

If your business operations were legally suspended during the 2020 calendar year or if you experienced a significant decline in gross receipts during any quarter in 2020, it is eligible for the credit. 2021 Tax Changes in California. In the state of California, there has been one notable tax change for 2021 that impacts businesses.

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Tax payroll tax California payroll 52

inDinero Accounting

JULY 8, 2021

Typically, businesses should look for essential business banking services such as interest-earning checking accounts, business savings, business credit cards , money transfer services, cash management, and business financing options. To grasp what your business needs from a bank takes time and accounting expertise. Business acumen.

audit 57

audit accounting and finance Legal Account 57

inDinero Tax Tips

DECEMBER 13, 2021

If your business operations were legally suspended during the 2020 calendar year or if you experienced a significant decline in gross receipts during any quarter in 2020, it is eligible for the credit. One mistake in reporting or claiming a deduction could end up costing you in fines and lost time due to an audit.

Tax 52

Tax payroll tax California payroll 52

Cherry Bekaert

MARCH 4, 2024

Founded in 2020 and based in Sacramento, California, Stravos is a holding company that acquires and supports educational tutoring services, talent recruiting services and academic preparation firms throughout the U.S. Compliance: In preparation for a successful annual audit, the establishment of accurate financial statements was critical.

general ledger 52

general ledger Education Technology accounting and finance 52

xendoo

FEBRUARY 15, 2022

The National Society of Accountants (NSA) reports that tax consultants typically charge between $176 and $457. You can expect to pay higher fees for accountants based in a larger city with a high cost of living. For example, filing taxes in California will likely cost more than in other parts of the United States.

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tax consultant Tax tax return business tax 103

CPA Practice

JANUARY 12, 2024

That’s the CEO about the allocation of AI to tax and accounting. And most of the AI research work from everything I’m seeing is taking place on the legal side inside Thomson Reuters. But again, they didn’t look, it looks like most of the capital allocation. So even those types of announcements were made throughout the process.

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Technology Account accountant accounted 40

CPA Practice

AUGUST 4, 2023

Unfortunately, the IRS audited Michael’s estate tax return and assessed additional estate tax of over $1 million. He is one of few California attorneys certified as a Specialist by the State Bar of California Board of Legal Specialization in both Taxation and Estate Planning, Trust and Probate. _ ABOUT THE AUTHOR John M.

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Tax California Non-Profits income tax 98

CPA Practice

AUGUST 3, 2023

Unfortunately, the IRS audited Michael’s estate tax return and assessed additional estate tax of over $1 million. He is one of few California attorneys certified as a Specialist by the State Bar of California Board of Legal Specialization in both Taxation and Estate Planning, Trust and Probate. _ ABOUT THE AUTHOR John M.

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Tax California Non-Profits income tax 98

PYMNTS

JULY 6, 2020

Parma was the target of a recent audit by state Auditor Nicole Galloway, who found evidence of payroll fraud and/or “improper payments to the mayor, city clerk, and to city officials and others who were related to the major or city clerk.”

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accounts payable Missouri Real Estate payroll 59

Going Concern

JANUARY 19, 2023

Pretty sure some of these people showed up in Accountants Behaving Badly , an irregular feature we publish here when Google News results become full of accountant and bookkeeper headshots. Mentioned in: Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

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Tax tax return Gambling tax preparation 62

PYMNTS

APRIL 28, 2019

Set up in 2016 by companies including Google, Microsoft, Amazon and Facebook, The Partnership on AI released a report that stated algorithmic risk assessment tools cannot properly provide the right level of transparency and accountability. This report documents the serious shortcomings of risk assessment tools in the U.S.

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Arizona California audit Government 58

PYMNTS

APRIL 10, 2017

Reports also indicate the card processing problems were discovered in the aftermath of its accounting scandal last year after a broad inquiry into the bank’s practices was ordered by its board. Japan stepped up to the plate to deliver some: On April 1, the country recognized bitcoin as a legal payment method. Yes, we checked.

Legal 43

Legal New Jersey Florida Texas 43

Anders CPA

DECEMBER 1, 2023

Intro (00:00:00) – Welcome to the Modern CPA Success Show, the podcast dedicated to helping accounting firms stay ahead of the curve. Join us as we change the way people think about accounting. And so we developed the model and that was really my kind of my segue into being more of a forward looking accountant into forecasting.

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Start-ups Legal Non-Profits CPA 52

ThomsonReuters

JANUARY 18, 2024

How IT professionals can protect tax information at accounting firms 2. Accounting firms are entrusted with a wealth of sensitive financial data, including tax records, income statements, and other confidential information. Security audits. Jump to: 1. A modern approach to tax data security 3. Let’s take a look.

tax accountant 52

tax accountant Tax Account accountant 52

PYMNTS

NOVEMBER 29, 2019

Since last year, several more states have embraced economic nexus legislation – including large, consumer-dense states like California and New York. You can bet, however, that they take the time to read through communications from tax authorities indicating that they are being audited or that they owe back taxes.

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South Dakota Tax Nebraska audit 53

ThomsonReuters

JUNE 28, 2023

Since 2020, one state in particular has been getting a fair amount of attention when it comes to the ongoing challenges with worker classification - California. Wallin noted California’s ABC test “looks a lot different than the totality of circumstances test that…[the Biden Administration] is pushing forward.”

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Legal payroll California audit 98

PYMNTS

FEBRUARY 14, 2019

Legal marijuana sellers want bank accounts just like any other business. Despite 47 states having some form of legalized marijuana for sale, the legal cannabis industry exists in a state of potentially dangerous uncertainty when it comes to financial services. billion worth of legal cannabis products.

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Oregon Legal Colorado Washington 92

PYMNTS

FEBRUARY 13, 2019

Legal marijuana sellers want bank accounts just like any other business. Despite 47 states having some form legalized marijuana for sale in those states— the legal cannabis history exists in a state of potentially dangerous uncertainly when it comes to financial services. billion worth of legal cannabis products.

Oregon 46

Oregon Legal Colorado Washington 46