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Baratz & Associates Acquires Fellow New Jersey CPA Firm

CPA Practice

Consisting of more than 65 people, Baratz & Associates has developed a well-established reputation for providing accounting, auditing, business acquisition, health care consulting, litigation support, tax planning, and valuation services to clients. Established in 1992, Renzi Bernardi Suarez & Co.

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Best Practices for Managing a Sales Tax Audit

TaxConnex

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers.

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IRS Getting Serious About Prosecuting ERC Fraud

CPA Practice

From the Kiplinger Consumer News Service (via TNS). Employee retention credits have been in the news lately. The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. million in tax refunds to Haynes’ clients based on false tax form filings.

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Tax Savings for Accountants with Gambling Clients

CTP

Filing taxes as a “pro gambler” for tax benefits without completing these qualifications can invite IRS scrutiny. If audited by the IRS, thorough records and logs may help your clients prove their professional gambler status. Provide supportive documentation for audited sessions.

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QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. QSBS Rules for Qualification QSBS Tax Treatment How to Report QSBS on Your Tax Return Conclusion What is the QSBS Exemption? This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

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How to Efficiently Complete a Business Personal Property Rendition

CPA Practice

Most states tax personal property owned by businesses and require businesses to complete and file a personal property rendition every year. The exceptions to that rule are Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, and South Dakota.

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Friday Footnotes: EY Can’t Hire Tech; John Doe Sues the PCAOB; Auditors Can’t Find Torpedoes and Missiles | 1.20.03

Going Concern

PwC sees off Deloitte to retain HSBC audit worth up to $1bn [ Financial Times ] PwC has retained the most valuable audit contract on the London Stock Exchange after overcoming a challenge from Deloitte to sign off the accounts of HSBC until 2034. In 2020, it said the process would be complete by 2026.

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