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IRS Extends Tax Filing Deadline in 10 Maine Counties Following Severe Storms

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted Maine tax relief to areas of the state impacted by severe storms late last year. The tax deadline extension for Maine follows tax relief for Connecticut and Rhode Island , announced by the IRS earlier this year. 17, 2023, through June 17, 2024.

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Tax Planning for Retirement Plans: Understanding the Main Types of Retirement Accounts

CTP

Employer contributions are tax-deductible, and employees will not pay taxes while the money stays in the account. These accounts define the amount of retirement benefits employees will receive, so there’s less ambiguity than we see with defined contribution plans. Defined benefit plans are pension-type plans.

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Maine Man Gets 33 Months in Prison for Misusing PPP Funds

CPA Practice

By Judy Harrison, Bangor Daily News, Maine (TNS). The second Maine man who admitted defrauding a pandemic business loan program was sentenced Wednesday in U.S. Government Accountability Office estimated unemployment fraud from pandemic jobless benefits may top $60 billion. (c)2023 In sentencing Franck, U.S.

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How Bookkeepers & Accountants Can Overcome Imposter Syndrome

Nancy McClelland, LLC

Recently, I had the pleasure of joining Adam Lean of The CFO Project on his podcast, “ Escaping the Accountant’s Trap ,” to discuss imposter syndrome — what it really means, how to know if you have it (or are simply learning something new), and practical tips for overcoming those feelings of being a fraud.

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Is a Health Savings Account Right for You?

RogerRossmeisl

For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs. The post Is a Health Savings Account Right for You? Given the escalating cost of health care, there may be a more cost-effective way to pay for it.

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How to navigate accounting assumptions

ThomsonReuters

Jump to: What are the main accounting assumptions? Going concern assumption: A closer look How do common accounting assumptions relate to GAAP? Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements.

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Weekend Discussion: Accounting Doesn’t Need to Be Sexy

Going Concern

The intro paragraph reads: In tiktok parlance, “accountant” is code for a sex worker. The American Institute of Certified Public Accountants (aicpa), the profession’s main trade group in America, has a TikTok feed laden with career tips and young accountants (the real sort) living their best professional lives.

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