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Accounting Students from University of Nebraska Win 2024 Deloite FanTAXtic Competition

CPA Practice

A team of students from University of Nebraska , Lincoln, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

There are proposed bills in both the House and the Senate of Mississippi ( Senate Bill 2439 / House Bill 583 ) that seek to establish a minimum wage and overtime law for the state. Currently, Mississippi does not have any minimum wage or overtime provisions. One bill is proposing to put PFMLI on the ballot ( House Bill 1994 ).

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

inDinero Accounting

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. Table of Contents What is the QSBS Exemption?

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What's new in July for state sales and use taxes

TaxConnex

Mississippi specified that its exemption for health care facilities paying sales tax on construction materials and machinery and equipment purchased within three months of completion of construction does not include medical marijuana establishments. Maryland will begin exempting items including?baby thermometers, masks, diabetic care?products

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A Refresher on the Types of Small Business Legal Structures, and Their Benefits

CPA Practice

Partnerships Business taxes are passed through to partners like in a sole proprietorship since there is no legal separation between the owners and the company. The IRS equally taxes all partners who share legal and debt responsibilities.

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Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

Customers of the Falasz Tax and Accounting company say they’re upset because the company didn’t file their taxes on time in April and then missed the October extension date. One customer says their business tax documents haven’t been filed since 2019.

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Some Republicans Crack Open Door to Child Tax Credit Deal

CPA Practice

An impasse on if or how to bolster the benefit has now held up tax negotiations for a year. While Democrats are demanding a child credit boost in any bipartisan tax package that also revives lapsed business tax breaks, some lawmakers in Republicans’ narrow House majority are also naming it a top concern.

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