Ronika Khanna CPA,CA

MARCH 22, 2024

Table of Contents As an accountant I frequently receive panicked calls from business owners who have received ominous letters from the tax authorities requesting that overdue tax returns be immediately filed. Others receive notices of assessments for estimated taxes payable if they have an overdue tax return.

Tax 52

Tax tax return corporation tax accounting system 52

Going Concern

AUGUST 30, 2023

to evaluate employees moving between large accounting firms and the IRS, a.k.a The Congressional request specifically noted interest in large accounting firms. The request noted that the review should include “the extent to which large accounting firms and their employees are taking advantage of the revolving door [i.e.,

accounting firms 67

accounting firms Account accountant accounted 67

ThomsonReuters

NOVEMBER 8, 2022

The weekly ESG Toolkit article published in Accounting & Compliance Alert (ACA) rounds up environmental, social and governance (ESG)-related Checkpoint updates across practice areas. SEC Accounting and Reporting Update (SARU): No. Tired of wondering whether your clawback policy would pass muster in the eyes of the SEC?

accounting and finance 59

accounting and finance audit Finance Account 59

Accounting Insight

MARCH 3, 2023

As digital transformation continues to accelerate the evolution of tax and accounting, the players who expedite their embrace of these six tech trends will have an early mover advantage. And governments around the world – 136, to date – have also already agreed to adopt the 15% minimum corporate tax.

Tax 52

Tax Account accountant accounted 52

Cheap Accounting

FEBRUARY 4, 2022

Some times accountancy data can be lost. They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. The first step in your recovery plan will be to establish a clean starting point – the last date at which you have your accounting data available.

Account 52

Account accountant accounted corporation tax 52

ThomsonReuters

DECEMBER 22, 2023

As emerging technologies continue to reshape industries, tax departments are not exempt from the transformative power of innovation. In this era of rapid change, corporate tax professionals must stay ahead of the curve and leverage the latest tools and strategies to navigate the complex landscape of tax compliance.

Tax 52

Tax Technology corporation tax audit 52

CPA Practice

NOVEMBER 13, 2023

Top 50 accounting firm Cohen & Co. The firm also provides outsourced corporate tax and accounting advisory services. We are joining a team that, together, will be the firm for tax, assurance, and business consulting work for private companies and high-net-worth individuals in our region.

CPA 110

CPA tax consultant auditor audit 110

Going Concern

JULY 6, 2023

When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. Spoiler: it was not. For posterity, natch.

Tax 91

Tax corporation tax Government Legal 91

CPA Practice

AUGUST 22, 2023

Key industry findings from the report: Tax and Accounting Professionals: Freeing up time to deliver more value: Productivity is the highest priority for tax and accounting firms (59%), while internal efficiency (75%) tops the list in corporate tax and accounting departments.

Legal 98

Legal Technology Tax tax return 98

Inform Accounting

OCTOBER 27, 2022

But what if we told you there are several strategies you can adopt to help reduce the amount of tax you pay? Because we are sharing six tips to help you save tax and get the most for your money! Hire an accountant First and foremost, we strongly recommend hiring an accountant. Taxing cryptoassets: what you need to know.

Tax 52

Tax income tax Account accountant 52

ThomsonReuters

AUGUST 2, 2023

As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. global minimum tax regime.

corporation tax 98

corporation tax Tax financial statements Government 98

CPA Practice

APRIL 5, 2024

The IRS is identifying his customers, determining their correct tax liabilities, pursuing refunds that were erroneously issued and collecting additional taxes and penalties, according to a court document. government fees and payments he received from customers for whom he prepared tax returns with false or fraudulent claims.

tax return 103

tax return Tax tax preparation income tax 103

ThomsonReuters

NOVEMBER 16, 2023

In the second installment of our three-part series on e-invoicing, we will explore how e-invoicing and continuous transaction control (CTC) regulations impact tax compliance, and examine some of the challenges and considerations that corporate tax teams may encounter.

Tax 59

Tax Technology AP Automation accounts payable 59

CPA Practice

JANUARY 5, 2024

A Nevada accountant was sentenced Wednesday to 13 months in prison for his role in separate bribery and tax fraud conspiracies. Lewis, of Henderson, was a CPA employed by Las Vegas-based accounting firm L.L. According to court documents and statements made in court, Dustin M. Bradford & Company.

CPA 52

CPA Nevada Tax tax return 52

ThomsonReuters

FEBRUARY 6, 2024

Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax. What is indirect tax?

Tax 52

Tax income tax Manufacturing corporation tax 52

Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Tax Major tax changes are unlikely. Buy to let After changes to the buy to let interest relief were bought in many landlords have chosen to start limited company so they are paying close attention to the rate of corporation tax.

chartered accountant 59

chartered accountant Construction corporation tax Government 59

ThomsonReuters

FEBRUARY 20, 2024

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR.

income tax 52

income tax corporation tax Tax tax planning 52

ThomsonReuters

FEBRUARY 6, 2024

Examples of direct tax Understanding tax provision Understanding state apportionment Differences between direct and indirect taxes When a taxpayer must pay taxes directly to the government, meaning the taxes cannot be shifted to other entities or individuals, it is known as direct tax.

Tax 52

Tax income tax payroll tax payroll 52

Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. A3: SVOG funds are recorded as tax-free grant income on the income statement.

Tax 126

Tax tax return income tax corporation tax 126

Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. Corporation Tax A reduction in the headline rate of corporation tax to support UK business in a challenging economic climate. What could we expect to see from the Spring Budget 2024?

Manufacturing 52

Manufacturing corporation tax chartered accountant Tax 52

CPA Practice

JUNE 1, 2023

BEPS also requires that companies itemize their revenues by country, and as taxation bodies develop more sophisticated models that compare BEPS data with corporate tax return data, there may be an increase in investigations. Further, teams need to adapt to a shifting landscape of rules as the framework evolves over time.

Tax 98

Tax corporation tax Technology accounting and finance 98

Menzies

SEPTEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. The government has extended the availability of 100% first year allowances on the acquisition of cars, zero-emissions goods vehicles and equipment. This was due to end in April 2021 and will now come to an end in April 2025.

Tax 52

Tax chartered accountant corporation tax Transportation 52

ThomsonReuters

MARCH 28, 2023

The main goal of compliance is of course to ensure all taxes are reported in accordance with the relevant regulations, accurately, and on time. However, with governments around the world rolling out new requirements for E-invoicing, real-time reporting, and other data-intensive tax initiatives, compliance is becoming increasingly complex.

Tax 59

Tax Technology corporation tax Government 59

CPA Practice

MARCH 26, 2024

economy, they also say the government system lacked safeguards and fell prey to widespread theft. Although Lorquet fabricated the claims and paperwork, his loan request was approved by BlueVine and $215,645 was deposited into his account at TD Bank on June 5, 2020. Millions of government funds rolled into his bank accounts.

Real Estate 124

Real Estate Florida payroll Government 124

Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is a highly valuable relief to promote and reward attempts by companies to achieve advances in scientific or technological fields or appreciable improvements in associated processes. per £100 of spending to £46.50.

Tax 59

Tax Non-Profits chartered accountant corporation tax 59

ThomsonReuters

APRIL 17, 2024

This comprehensive study explores the attitudes, perceptions, and usage of GenAI among professionals in the legal, tax & accounting, risk & fraud, and government sectors. I would not want to be too dependent on it,” said one corporate tax director.

Tax 98

Tax tax preparation tax return Technology 98

CPA Practice

APRIL 17, 2023

By Bruce Willey, JD, CPA, Kiplinger Consumer News Service (TNS) A buzzword appeared in the world of small business about a decade ago: the accountant as “most trusted advisor.” As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes.

Tax 104

Tax tax planning cpas CPA 104

Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. Profits can be left in the company within retained earnings or distributed to the shareholders via dividends, governed by the rights attached to the shares of each shareholder. A limited company is more tax efficient if you make more profit than you need to take out of the business.

corporation tax 52

corporation tax income tax chartered accountant Legal 52

Accounting Insight

MARCH 31, 2023

Higher interest rates, 11% Access to finance, 9% Ability to hire or retain staff, 7% Whilst inflation is set to fall over the course of the year, SME owners may see other costs rise as Corporation Tax increases to 25%. The post iwoca research reveals top 5 SME concerns in 2023 appeared first on Accounting Insight News.

accounting and finance 59

accounting and finance corporation tax Finance B2B 59

Ronika Khanna CPA,CA

DECEMBER 2, 2022

The T5 dividend slips are generally due by February 28th of the calendar year following the year in which the dividend was paid Although no income taxes are due at the time of filing the T5 slips with the government, interest and penalties apply for late filing. available at Amazon. Preparing the T5 slips is fairly straightforward.

tax return 98

tax return Non-Profits income tax Tax 98

ThomsonReuters

JUNE 22, 2021

Indirect tax specialists in North America and Europe expect to see more digitized tax filing and real-time remittance requirements in the next two years — and they lack the technology and operational processes to meet these demands. That’s a key finding from the 2021 State of the Corporate Tax Department report from Thomson Reuters.

Tax 52

Tax Technology corporation tax California 52

Xero

MARCH 13, 2024

Holiday entitlements The Government has introduced reforms to simplify holiday entitlement and holiday pay calculations in the Working Time Regulations, for leave years beginning on or after 1 April 2024. Aged 18 to 20 £8.60 Aged under 18 (but above compulsory school leaving age) £6.40 Apprentices aged under 19 £6.40

payroll 84

payroll Tax corporation tax Construction 84

Menzies

AUGUST 8, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC have introduced new rules for the submission of R&D tax relief claims. This is with reference to the date the claim is filed, not the accounting period date, so any claims filed from 8 August 2023 onwards will need to comply with these new rules. What is happening?

Tax 52

Tax chartered accountant Maine tax return 52

Going Concern

JULY 21, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. News Battle accountancy firm urges others to offer opportunities to Ukrainian professionals after successful placement [ SussexWorld via Yahoo! ” Then Robinson agreed.

audit 93

audit Tax Manufacturing Government 93

Xero

AUGUST 11, 2022

It would be no surprise to learn that many accounting practices and their small business, landlord and sole trader clients are currently suffering from confusion from overuse of acronyms (CFOA). Frankly, you already have enough to remember, thanks to Making Tax Digital (MTD) for VAT and Income Tax Self Assessment (ITSA).

income tax 81

income tax Tax tax return tax accountant 81

Inform Accounting

MARCH 21, 2023

On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages. In this blog we set out some of the main tax rates.

Tax 52

Tax income tax tax return corporation tax 52

CPA Practice

OCTOBER 18, 2023

5 states with the lowest total tax burden for businesses While each state has its own tax structure, several states stand out for their favorable business tax environment. Here are five states renowned for their low taxes for businesses: 1. Florida also provides tax breaks and incentives for startups.

business tax 59

business tax Tax Alaska South Dakota 59