RogerRossmeisl

NOVEMBER 26, 2023

The State Controller’s Office (SCO) has now opened the sign up process for businesses to apply for the program. The post Unclaimed Property Voluntary Compliance Program Now Available in California appeared first on Roger Rossmeisl, CPA.

California 130

California CPA cpa firm business tax 130

CPA Practice

APRIL 15, 2024

Now, more than ever, CPAs count in the state of Florida.” 15 and by the Florida Senate on March 5, the legislation allows licensed CPAs who are at least 65 years of age to apply to the Florida Board of Accountancy (BOA) to place their license into retired status. Passed unanimously by the Florida House on Feb.

Florida 115

Florida cpas CPA public accounting 115

Withum

MARCH 7, 2024

It was processing about 40,000 claims per week and it is now down to 1,000 to 2,000 per week. That is because it is now analyzing the merits of ERC claims before it pays them. We are now seeing the IRS issue standardized information and document requests (IDRs) from a centralized office in Austin, Texas.

Tax 126

Tax income tax tax return audit 126

TaxConnex

AUGUST 30, 2022

But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps. In some states, such as Colorado and even Alaska , home rule statutes might also apply.). has helped companies in many industries?alleviate

Sales 189

Sales Tax Wisconsin Massachusetts 189

RogerRossmeisl

SEPTEMBER 19, 2022

The credit applied only to property placed in service before January 1, 2022. The credit is now extended for energy-efficient property placed in service before January 1, 2033. Non-business energy property Before the IRA was enacted, you were allowed a personal tax credit for certain non-business energy property expenses.

CPA 221

CPA Tax 221

CPA Practice

DECEMBER 27, 2023

The agency launched a new program to help businesses that applied for “questionable” employee retention credits (ERC) and received them, particularly companies that may have filed for the credits in error. We hope these taxpayers take advantage of this window now.” Further details about the program can be found on the IRS website. (c)

audit 124

audit payroll Tax Account 124

TaxConnex

JUNE 15, 2023

Retailers, online marketplaces and services must now charge the delivery fee if an order will be delivered to a Colorado address using a motor vehicle and includes at least one item subject to the state sales or use tax. The fee does not apply to pickups at the retailer’s place of business, including curbside delivery.

Colorado 130

Colorado Sales Minnesota Tax 130

TaxConnex

MAY 17, 2022

Most states follow destination-based sourcing rules, where remote sellers must apply the sales tax rules and rates based on the destination of where they are shipping product. Could it be the Golden State has a level of sales tax complexity that other states are now trying to emulate? Changes afoot? depending on the state.

New Mexico 177

New Mexico Illinois Texas Colorado 177

Withum

DECEMBER 22, 2023

The VDP allows taxpayers to apply to settle with the IRS by agreeing to repay 80% of the ERC received as long as they apply by March 22, 2024. Taxpayers can apply by filing Form 15434 , the application for the ERC VDP, through the IRS’s Document Upload Tool. Let’s discuss the particulars.

income tax 123

income tax Tax audit tax preparation 123

CPA Practice

FEBRUARY 2, 2024

Individuals and businesses affected by the severe storms now have until June 17 to meet certain tax obligations. As a result, impacted residents can now finally apply for grants from FEMA to assist with temporary housing and home repairs. Just make sure to check the 2023 HSA contribution limits that apply to you.

Rhode Island 113

Rhode Island Tax income tax tax return 113

Withum

DECEMBER 7, 2023

On November 28, 2023, the Tax Court ruled that the exception from self-employment tax for limited partners does not apply to limited partners who actively participate in the partnership’s business operations. It focused on the fact that the exception applies to “limited partners, as such.”

Tax 121

Tax Delaware tax services audit 121

TaxConnex

FEBRUARY 22, 2024

Latest tweaks to e-commerce Now that the click has become the cash register line, e-commerce is adding new ways to buy. from 2022 to 2023 and is now offered by nearly two-thirds of U.S. These numbers only echo what we’ve heard about ecommerce for years. Shoppable videos. retailers – the largest such market in the world.

E-commerce 196

E-commerce West Virginia Kansas Virginia 196

TaxConnex

SEPTEMBER 28, 2022

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Both civil and criminal statutes can apply. Civil statutes mainly apply to failure to file and failure to pay; many states levy a percentage of the total sales tax due.

South Dakota 204

South Dakota Alaska Tax Sales 204

Going Concern

SEPTEMBER 27, 2023

Run, don’t walk to NASBA’s site now. pic.twitter.com/Zn8LrdEVxr — Jack Castonguay, PhD, CPA (@profjackc) September 25, 2023 If you are sitting for the exam in Arizona or Texas, sorry but your window to apply for BEC as a first-time taker is already closed. Just get it done now if you can. You deserve it.

CPA 100

CPA Rhode Island West Virginia South Dakota 100

CPA Practice

MARCH 4, 2024

These laws apply for both private and public U.S. Climate Corporate Data Accountability Act SB-253 SB-253 applies to all U.S. Greenhouse Gases: Climate-Related Financial Risk Act (SB-261) SB-261 applies to all U.S. companies that do business in California (not just those with a physical presence in California).

California 119

California accounting and finance Government Finance 119

TaxConnex

MARCH 1, 2022

State and local sales tax is sometimes levied on services but much more often applied to “tangible personal property.” Use tax applies based on where the client is using the service. For some 90 years, states have levied sales tax on goods (West Virginia was the first to do so , in 1921). help you comply and?

South Dakota 192

South Dakota Sales Tax West Virginia 192

Withum

MARCH 1, 2024

The new guidance applies to all public entities that are following Topic 280 Segment Reporting requirements already, and these entities must apply the new requirements retrospectively to all periods presented in their financial statements. The existing disclosure requirements are not changing.

Non-Profits 80

Non-Profits financial statements accounting standards Account 80

TaxConnex

OCTOBER 26, 2023

This tells you where you have sales tax nexus, what the taxability of your various products/services is and whether there are any exemptions or reduced tax rates that apply to your business. Applying sales tax. Applying sales tax to your invoice or to a transaction in your shopping cart. Automation is most valuable in this step.

Technology 147

Technology Sales Tax E-commerce 147

Withum

FEBRUARY 27, 2023

The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments. What Items Are Now Extended Until October 16, 2023? These payments will now be due on October 16, 2023, to be considered timely paid.

California 119

California tax return Nevada payroll 119

CPA Practice

FEBRUARY 29, 2024

These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. The June 17, 2024, deadline applies to individual income tax returns and payments normally due on April 15, 2024. The tax relief also applies to quarterly estimated tax payments, normally due on Sept.

Washington 98

Washington Tax tax return income tax 98

Patriot Software

OCTOBER 10, 2022

Time has flown by and it’s now 2022. Employees in Connecticut can now apply for benefits from the state’s paid family leave program. Connecticut joined the paid family leave states when employers began handling Connecticut paid family leave contributions in 2021. What does that mean?

Connecticut 116

Connecticut payroll 116

Xero

JANUARY 29, 2024

We’ve had two versions of our invoicing feature for a while now — classic invoicing and new invoicing. To do this, they need to focus their attention on new invoicing, rather than maintaining the older version that is now outdated. Classic invoicing looks almost alien to me now. That’s why we’ve built them into the new version.

Tax 111

Tax audit Sales Technology 111

CPA Practice

OCTOBER 24, 2023

The 2024 preparer tax identification number (PTIN) renewal period for the nation’s nearly 800,000 active federal tax return preparers is now underway. First-time PTIN applicants can also apply for a PTIN online. On your mark, get set, go! All current PTINs expire on Dec. Paid tax return preparers with a PTIN expiring on Dec.

tax return 126

tax return Tax 126

Anders CPA

AUGUST 2, 2022

If you’re already investing or looking into investment opportunities, now is the time to familiarize yourself with current tax reporting requirements and wash sale rules before they apply to cryptocurrencies. This legislation would have applied to taxable years beginning after December 31, 2021. What is a Wash Sale?

tax planning 111

tax planning Sales Tax income tax 111

Xero

AUGUST 30, 2023

We have four funding categories that Xero small business customers can apply to. Ready to apply? You’ll need to do a separate video and application form for each category you want to apply for and each video will need to be specific to that category. Now give yourself a pat on the back and get back down to business.

bookkeeping 95

bookkeeping Technology Account accountant 95

CPA Practice

FEBRUARY 28, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. In addition, farmers who choose to forgo making estimated tax payments and normally file their returns by March 1 will now have until Oct. It also applies to the quarterly payroll and excise tax returns normally due on Jan.

Tax 128

Tax Alabama tax return Georgia 128

Withum

FEBRUARY 8, 2024

These firms will now have to register as dealers with the SEC, which means they will face more rules and scrutiny. The new regulations will also apply to other securities, such as government bonds and equities. Treasuries frequently, such as hedge funds and high-speed traders.

CPA 105

CPA Government Account accountant 105

CPA Practice

SEPTEMBER 11, 2023

The Illinois CPA Society (ICPAS) is encouraging aspiring certified public accountants (CPAs) to apply for its 12th annual Mary T. The award-winning, three-day program aimed at increasing diversity in the CPA profession is now accepting applications until Nov. Washington Wylie Internship Preparation Program to be held virtually Jan.

accounting internships 108

accounting internships Illinois Account accountant 108

CPA Practice

SEPTEMBER 18, 2023

Even if you stay in the same tax bracket for years to come, the rate that applies to that bracket will likely increase down the road. If you have a tax-deferred IRA, you will pay more in taxes when you withdraw from the account in retirement than you would if you converted now. What are the main benefits of a Roth?

Tax 119

Tax income tax Non-Profits tax planning 119

Going Concern

MARCH 7, 2024

Per The Telegraph , Big 4 firms across the pond are now “banning” applicants from using ChatGPT and its equivalents to help with applications because they’re afraid AI tools “will help them cheat the system.” For now, however, teachers are left with limited options. ” The irony.

accounting firms 92

accounting firms Technology Account accountant 92

Cherry Bekaert

APRIL 4, 2024

These individuals can now earn a percentage of their money spent back through federal energy tax credits. This is a nonrefundable credit, but individuals can carry forward any unused excess credit and apply it toward future tax years, reducing the overall tax owed. Taking advantage of energy tax credits can seem like a daunting task.

auditor 90

auditor tax return audit Tax 90

CPA Practice

JANUARY 27, 2023

Now SECURE Act 2.0 Penalty-free emergency distributions: Usually, a 10% penalty applies on top of regular income tax to distributions from a retirement plan or IRA, unless a special exception applies. Other increases apply to catch-up contributions to IRAs and SIMPLE plans. boosts it to age 73, beginning in 2023.

income tax 128

income tax Tax Start-ups Education 128

Cherry Bekaert

DECEMBER 14, 2023

This includes guidance on how to apply the ITC recapture rules for failing to meet prevailing wage and apprenticeship requirements as well as how to apply the apprenticeship requirements after a project is placed-in-service. While prevailing wages continue to apply in certain circumstances, the apprenticeship requirements do not.

Tax 52

Tax accounting and finance Technology Finance 52

Withum

FEBRUARY 29, 2024

Download Now to Keep Reading! With AI-powered virtual assistants, tasks that once required human intervention can now be automated, freeing up valuable time and resources for higher-level strategic initiatives. Download the full guide now to uncover the secrets to AI success. And that’s just the beginning!

Technology 98

Technology Start-ups 98

CPA Practice

APRIL 8, 2024

Tax professionals receive in-depth analyses and solutions for complex tax scenarios, coupled with guidance on applying these solutions in their tax software. CPA Pilot is now available for tax professionals looking to integrate this essential tool into their workflow.

CPA 122

CPA Tax Technology cpas 122

Withum

JUNE 22, 2023

Businesses that have “Qualified Manufacturing Research and Development” expenditures in New Hampshire are eligible to apply for the NH Research and Development (R&D) Tax Credit. The credit is applied first against the Business Profits Tax, and any remaining amount is applied against the Business Enterprise Tax.

New Hampshire 78

New Hampshire Tax Manufacturing tax return 78

Shay CPA

MARCH 6, 2024

It’s the R&D credit that the IRS will let you apply toward payroll taxes. That’s because the credit could only be applied toward their income tax liability. Now, you can apply that research tax credit toward your payroll tax liability instead of your income tax liability. As a quick reminder, this is the 6.2%

payroll tax 52

payroll tax payroll Tax tax return 52