CPA Practice

NOVEMBER 25, 2024

If you’re a business owner or a tax professional who represents one, the IRS wants to hear from you. 22 that it’s conducting virtual focus groups starting in December to gather feedback on the business tax account (BTA) online self-service tool. “We The agency said in an email on Nov.

tax accountant

inDinero Accounting

OCTOBER 17, 2024

As we delve into the specifics, remember that tax laws are as dynamic as the business world itself. So, buckle up as we embark on this journey through the labyrinth of small business tax deductions, uncovering often-overlooked opportunities and strategies to maximize your tax savings.

business tax

LSLCPAs

JANUARY 9, 2025

Yet, for many individuals and businesses, poor accounting practices lead to unnecessary stress, missed opportunities, and even costly tax consequences. If youve ever felt overwhelmed by your financial records or rushed to prepare your tax return at the last minute, this.

tax return

Nancy McClelland, LLC

APRIL 8, 2025

Did your accountant (possibly me) ask you to make a business tax payment for your Illinois pass-through entity, such as a Partnership or S-Corp — maybe an estimated tax payment or extension payment? On the Summary tab, look for the Business Income Tax section. (In Well, you’ve come to the right place.

Illinois

RogerRossmeisl

DECEMBER 15, 2024

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your bottom line. Properly managing travel costs can help ensure compliance and maximize your tax savings.

Tax

RogerRossmeisl

AUGUST 9, 2025

Small Business Tax Briefs §179 Bonus Depreciation OBBBA 2025 For certain assets with longer production periods, these percentage cutbacks were delayed by one year. For example, a 60%. The post OBBBA Includes Favorable Change for Depreciating Eligible Assets appeared first on Roger Rossmeisl, CPA.

business tax

CapataCPA

JULY 11, 2025

The Act extends and enhances several key provisions from the 2017 Tax Cuts and Jobs Act (TCJA), revises energy-related incentives introduced in the Inflation Reduction Act (IRA), and introduces entirely new tax measures across multiple industries. Below is a summary of the most notable updates that may impact you or your business.

Tax

CPA Practice

NOVEMBER 20, 2024

Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

accounting firms

Withum

JULY 4, 2025

One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape.

income tax

Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. Or at least half-in. 57% of accounting firms plan to increase fees across all services in 2025.

cost accounting

ThomsonReuters

JANUARY 6, 2025

The benefits of these solutions are clear: reduced manual effort, increased accuracy, and better control over tax processes. Learn more about embedded tax solutions and how they can benefit your organization, download our white paper on business tax transformation today.

Tax

inDinero Tax Tips

OCTOBER 22, 2024

Table of Contents LLCs Are “Pass-Through” Entities LLC Taxes in Nevada Nevada Commerce Tax Frequently Asked Questions Conclusion The Entrepreneur’s Guide to Tax Saving Strategies Fill out the form to download your guide to find out how you can pay less in taxes Click Here LLCs Are “Pass-Through” Entities LLCs aren’t taxed directly.

Nevada

Shay CPA

APRIL 28, 2025

Tax Credits and Incentives for Setting Up a Retirement Plan Setting up a 401(k) or similar plan can bring federal tax benefits, including: SECURE Act Small Business Tax Credit: Employers with fewer than 100 employees may claim a tax credit for up to three years to offset the administrative costs of starting a retirement plan.

New York

Withum

AUGUST 12, 2025

Our team is closely monitoring sweeping tax reform changes, shifting tariffs and tax industry updates, delivering in-depth analysis and actionable insights. Visit Resource Center Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax

Menzies

OCTOBER 30, 2024

Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years.

Manufacturing

MyIRSRelief

OCTOBER 11, 2024

If you’re searching for an “Enrolled Agent near me,” you’re likely looking for someone who can provide a wide range of tax services. Get help today by calling us at 1-877-78-TAXES [1-877-788-2937]. Business Tax Preparation Business tax preparation is another critical service offered by Enrolled Agents.

tax services

Accounting Today

JULY 28, 2025

By Chris Gaetano July 25 Tax IRS warns: Revalidate business tax accounts by July 29 or lose access The Internal Revenue Service said "designated officials" need to revalidate their business tax account by the July 29 deadline in order to maintain access. By Michael Cohn July 25 Like what you see?

Technology

Withum

AUGUST 5, 2025

Businesses should consult with their tax advisors to assess whether upcoming investments qualify and to structure transactions accordingly. withum.com Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Author: Yeonhee Oh | yeonhee.oh@withum.com

tax planning

ThomsonReuters

JUNE 24, 2025

Tension point 1: The vendor transparency gap The most striking disconnect in our research reveals a fundamental communication breakdown between corporate tax departments and their external service providers. 77% of business tax departments want their tax service providers to use GenAI.

corporation tax

RogerRossmeisl

AUGUST 2, 2025

If you’re claiming deductions for business meals or vehicle expenses, expect the IRS to closely review them. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later.

auditor

RogerRossmeisl

MARCH 3, 2025

citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.

CPA

ThomsonReuters

MARCH 20, 2025

Meet increasing client demands Todays clients expect more than just tax preparation; they want strategic advice, real-time insights, and personalized service. The challenge for many firms is balancing these expectations with the realities of a busy tax season.

Tax

Withum

APRIL 14, 2025

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post LLCs vs. S Corporations vs. C Corporations: Choosing the Right Entity for Your Business appeared first on Withum.

tax return

RogerRossmeisl

JUNE 1, 2025

The federal tax code may allow a bright strategy to lighten the impact. The net operating loss (NOL) deduction levels the playing field between businesses with steady income and those with income that rises and falls. Even well-run companies experience down years. Who qualifies?

Tax

ThomsonReuters

JUNE 24, 2025

Tension point 1: The vendor transparency gap The most striking disconnect in our research reveals a fundamental communication breakdown between corporate tax departments and their external service providers. 77% of business tax departments want their tax service providers to use GenAI.

corporation tax

Accounting Today

JULY 25, 2025

By Chris Gaetano 2h ago Tax IRS warns: Revalidate business tax accounts by July 29 or lose access The Internal Revenue Service said "designated officials" need to revalidate their business tax account by the July 29 deadline in order to maintain access.

Technology

Going Concern

NOVEMBER 7, 2024

TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #23571431 Certifications: CPA in process Education: BBA Accounting, MA Accounting Experience (years): 5+ years of accounting and tax experience Work experience: All in public accounting Performs full cycle accounting and tax preparation Financial compilations and reporting with clients (..)

Real Estate

Nancy McClelland, LLC

JANUARY 12, 2025

It’s tax time, you’re digging through your records… and your preparer or tax software asks about tax payments you’ve already made. Um, was I supposed to track those?

Tax

ThomsonReuters

NOVEMBER 26, 2024

Let’s take a look at what a digital tax workflow is all about and how it can unlock efficiencies for your accounting firm. Jump to ↓ What is a digital tax workflow? What is tax workflow automation? What is a digital tax workflow? First, the basics. Tens of thousands of U.S.

Technology

RogerRossmeisl

AUGUST 13, 2025

Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning in 2027, the threshold amount will be adjusted for inflation.

Gaming

CPA Practice

OCTOBER 25, 2024

Advisory LLC, not a licensed CPA firm, will provide business tax, advisory, and other non-attest services and be led by Bellamy. a licensed CPA firm, will provide attest services and be led by Vince Curttright, currently partner in charge of the firm’s assurance practice. Cohen & Co. as their brand name.

cpa firm

RogerRossmeisl

DECEMBER 29, 2024

Youre not alone if youre confused about the federal tax treatment of business-related meal and entertainment expenses. Current law The Tax Cuts and Jobs Act eliminated deductions for most business-related entertainment expenses. The rules have changed in recent years. Lets take a look at what you can deduct in 2024.

Entertainment

Ronika Khanna CPA,CA

OCTOBER 18, 2024

Deciding to transition from being an employee to self-employed business owner/freelancer/independent contractor. can be a significant life event. It can certainly be exciting as you relish the thought of greater freedom, flexibility and the ability to exercise your creativity in ways that you cannot when you are an employee.

accounting and finance

FraudFiles

APRIL 14, 2025

Tax returns can be one of the most important pieces of information a forensic accountant evaluates in a divorce case. Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of financial issues, including income, expenses, and assets.

tax return

Summit CPA

OCTOBER 10, 2024

IRS criminal investigations during the 2023 tax filing year identified potentially $37.1 billion in tax fraud and the conviction rate was 88.4%. While these statistics might make business owners like you sweat a bit, the IRS knows that not everyone is out to commit fraud and that mistakes can happen to anyone.

auditor

Withum

NOVEMBER 21, 2024

If you have questions about the new section 83(b) election form, please reach out to your Withum tax advisor. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Let’s Chat The post New Form for Section 83(b) Elections appeared first on Withum.

income tax

Withum

MAY 5, 2025

Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. By offering recipients a share in future success, partnerships foster strong, mutually beneficial relationships that drive growth and collaboration.

Real Estate