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The New Tax Court Limited Partnership Ruling: What to Know

CPA Practice

Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership. On February 16, the Tax Court ordered the parties to file another status report by May 17, 2024.

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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

Close your accounts. You’ve probably already thought about closing your bank accounts, but that’s not the only area where you need to get things sorted. Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts.

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Accountants Behaving Badly: Kickback Schemes, Hiding Money From the IRS, Embezzlement Spree

Going Concern

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Accountant sentenced to prison for role in doctor-bribery scheme [ Press-Telegram ]. Drobot, who owned Pacific Hospital in Long Beach. According to the U.S.

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Tax Season 2024- Get Your Books Ready in 6 Steps

Shay CPA

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. Very few founders enjoy doing their taxes. If you are the finance team, do this work yourself. . —

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Going Green for the Green: Federal Tax Incentives for Energy Efficient Building

KROST

While the benefits can be retroactively claimed if missed on previous tax returns, many miss out on the credit or deduction due to the temporary nature of the provisions. KROST Quarterly is a digital publication that highlights some of the hot topics in the accounting and finance industry.

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Shutting Down Your Tech Company? Here’s What You Need to Know

Shay CPA

Close all accounts This means bank and credit card accounts, of course. Research local laws to ensure you’re compliant with account closure requirements in every applicable state. You might need to pay the current calendar year’s franchise tax before you can officially close up shop, for example.

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Tax Season 2023: Get Your Books Ready

Shay CPA

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. Very few founders enjoy doing their taxes. If you are the finance team, do this work yourself. . —

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