Going Concern

JANUARY 5, 2024

CPA Tom Janney Announces Retirement [ WJLE ] Local stories like these are so cute. Longtime local CPA Tom Janney has announced his retirement from the tax and accounting side of Janney & Associates, CPAs, PC, a business he started in 1992 but sold to another firm fourteen months ago. Happy trails, Tom!

tax return 107

tax return Virginia accounting and finance audit 107

Nancy McClelland, LLC

APRIL 7, 2023

They provide the education and outreach to help accountants excel in this often-misunderstood realm of society. To operate on a cooperative basis for tax purposes, a company must meet specific tax rules in Subchapter T of the Internal Revenue Code. Field of Study: Taxes Program Level: Basic CPE Credit: 1.5

Agriculture 98

Agriculture Virginia CPA Education 98

CPA Practice

NOVEMBER 7, 2023

As part of today’s launch, Black Ore also announced its flagship product, Tax Autopilot , which combines its proprietary AI technology with federal and state tax codes and regulations to simplify the tax preparation and review process for Certified Public Accountants (CPAs) and accounting firms.

Technology 59

Technology cpas tax preparation tax return 59

Going Concern

NOVEMBER 24, 2023

Accounting Education Disrupted [ CPA Journal ] Although emerging technologies have disrupted the entire accounting ecosystem in recent years, the education realm has been one of the areas hardest hit. Taxpayers who use tax professionals can sometimes also show reasonable cause—i.e.,

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auditor audit tax return cpas 109

ThomsonReuters

JANUARY 18, 2024

Preparing tax returns. CPA responsibilities to clients As a trusted advisor in an increasingly complex financial landscape, certified public accountants (CPAs) have significant responsibilities for the services they provide to their clients. Accountant vs. CPA vs. tax preparer: What are the differences?

Account 59

Account accountant accounted tax preparation 59

MyIRSRelief

DECEMBER 15, 2022

Our Los Angeles tax preparation service is the process of preparing and filing tax returns for individuals or businesses. Tax preparation services can be provided by a variety of professionals, including Certified Public Accountants (CPAs), enrolled agents (EAs), and tax attorneys.

tax accountant 130

tax accountant Tax tax preparation Account 130

xendoo

FEBRUARY 23, 2022

More complex returns will incur higher fees. Often you may offset the cost of these services with your tax refund if you are eligible for one. If you choose to use a local accounting firm that specializes in tax return preparation, you will pay significantly more. How Much Time Do You Spend Preparing Your Return?

Tax 94

Tax tax preparation tax return Account 94

CPA Practice

OCTOBER 20, 2023

AICPA Releases Statement on IRS Announcement Concerning ERC Mills The American Institute of CPAs (AICPA) released a statement following an announcement by the Internal Revenue Service (IRS) detailing additional steps being taken to address aggressive and unscrupulous Employee Retention Credit (ERC) mills.

cpas 52

cpas CPA Education audit 52

CPA Practice

OCTOBER 19, 2023

AICPA Releases Statement on IRS Announcement Concerning ERC Mills The American Institute of CPAs (AICPA) released a statement following an announcement by the Internal Revenue Service (IRS) detailing additional steps being taken to address aggressive and unscrupulous Employee Retention Credit (ERC) mills.

cpas 52

cpas CPA Education audit 52

CPA Practice

MAY 7, 2023

The tax savings opportunity is not available to sole proprietorships or single member LLCs who are disregarded entities. Most businesses that file a tax return separate from inclusion in an individual return are eligible. Considering the corresponding regulations that come in to play, what is the practical application?

Real Estate 111

Real Estate Tax North Carolina cpas 111

Nancy McClelland, LLC

APRIL 16, 2023

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. Yet we often see this benefit overlooked on tax returns, especially when S-Corp shareholders pay for their insurance through work.

Tax 52

Tax tax preparation tax return cpas 52

Going Concern

OCTOBER 11, 2022

These businesses have their financial advisory needs served by hundreds of thousands of small firm accountants and CPAs nationwide. Small business has unique needs for accounting services: primarily tax and advising, and secondarily day-to-day accounting needs to act as de-facto controllers and decision makers. September 12, 2021.

Education 90

Education Account accountant accounted 90

LyfeAccounting

MARCH 10, 2021

In this post, we want to provide you with some more clarity on CPA services. Now, CPAs can provide a number of services to small businesses. But no other professional can provide all of the services that CPAs provide. So then… what are CPA services? What are CPA Services? What is a CPA?

CPA 52

CPA cpas bookkeeping tax preparation 52

CTP

NOVEMBER 16, 2023

CPAs and EAs are rethinking their strategies for practice management while moving from compliance to advisory services. The American Institute of Certified Tax Planners (AICTP) offers a full-service solution to developing CAS in your firm focusing on the specialization of tax planning. But tax planning is fun!

tax planning 98

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xendoo

MARCH 18, 2021

What is a CPA? It’s important to understand the differences between a Certified Public Accountant, CPA, and a regular accountant. A CPA is an accountant who has met specific state and education licensing requirements and passed the CPA exam. CPA act as consultants on many issues, including taxes and accounting.

CPA 52

CPA bookkeeping tax return cpas 52

xendoo

MAY 16, 2023

Also, Xendoo’s bookkeepers and CPAs have years of experience managing business record keeping. Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts?

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audit bookkeeping tax return cpas 52

xendoo

MAY 16, 2023

Also, Xendoo’s bookkeepers and CPAs have years of experience managing business record keeping. Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts?

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audit bookkeeping tax return cpas 52

Going Concern

AUGUST 5, 2022

If the world had no accountants [ The Indicator from Planet Money ] As the unsung heroes of the financial world, CPAs (Certified Public Accountants) are responsible for a wide range of important tasks, from balancing the books to investigating fraud. I’m thinking about joining TikTok just for the free tax advice. TaxTwitter. —

Account 98

Account accountant accounted audit 98

CPA Practice

JULY 12, 2023

If the estate is the beneficiary, the value of the HSA is included in the final tax return and the taxable amount may be reduced by any qualified medical expenses incurred by the decedent and paid within a year after the date of death. Rahill, CPA/PFS, JD, LL.M., CGMA, is a managing director at Wintrust Wealth Management.

Tax 98

Tax tax return payroll tax Illinois 98

Going Concern

SEPTEMBER 29, 2023

What CPAs can learn from Smucker’s [ Accounting Today Voices ] J.M. Smucker — makers of Smucker’s jam, Folger’s coffee and Jif peanut butter — has an innovative return to office policy. And CPAs in this space know what that means in terms of legal exposure. Rapid growth is great news for accounting firms.

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auditor audit New York CPA 103

Going Concern

AUGUST 25, 2023

Talent Nontraditional Candidates Can Solve Accounting Talent Shortage [ Bloomberg Tax Mazars’ Tifphani White-King explains why accounting firms should recruit people with nontraditional educational backgrounds and discusses ways to help such candidates succeed in the industry. to the new position of chief growth officer.

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tax preparation CPA payroll tax Illinois 95

Snyder

JANUARY 19, 2023

Tax season is the time when accounting firms and CPAs earn the biggest part of their profit. Surviving tax season is a skill that any accountant has to develop, and the earlier, the better. What is the busiest season for CPAs and accounting firms during the year? At the same time, it’s the most stressful period for them.

Tax 52

Tax cpas bookkeeping quickbooks 52

Going Concern

DECEMBER 12, 2022

The Arkansas State Board of Public Accountancy said the number of active CPAs in the state has dropped by 2% in the last six years; “For Arkansas, it’s not terrible as far as a pure numbers perspective,” said Jimmy Corley, the executive director of the state board. John Reed Stark, a former U.S.

Arkansas 52

Arkansas Finance Account accountant 52

KROST

MAY 11, 2022

Requires filing of an income tax return. Requires filing of a gift tax return. For example, it can stipulate when children or minors have access to funds for education. Any appreciation in Trust B is subject to income or capital gains tax by the beneficiaries when the beneficiaries sell the appreciated assets.

income tax 83

income tax tax return Tax Maine 83

Nancy McClelland, LLC

APRIL 9, 2024

There’s good news, too, however — the state of Illinois — and many other states, used legislation to create a loophole for getting around a pesky TCJA limitation on the State And Local Tax (SALT) deduction.

Illinois 52

Illinois Tax tax preparation tax return 52

Ryan Lazanis

APRIL 18, 2023

Here’s chatCPA , a bot trained by CPAs that you can chat with for only $6/month: That being said: Advanced technologies like AI can assist and improve the work of accountants, but they cannot entirely replace them because of their inability to perform essential human skills such as judgment, communication, and critical thinking.

Account 96

Account accountant accounted Technology 96

ThomsonReuters

MAY 24, 2021

Whatever a mental recharge looks like for you, make it intentional and commit to it so that you can come back refreshed and ready to take on the following post-tax season tasks. Educate yourself. For CPAs, this often comes in the form of Continuing Professional Education, or CPE. The good news?

Tax 52

Tax Account accountant accounted 52

CPA Practice

JULY 27, 2023

Here are some of them: Tax Preparation and Filing : This is often the most time-consuming task in an accounting firm, especially during the tax season. It involves collecting and organizing client data, analyzing it to ensure compliance with tax laws, preparing tax returns, and filing them on behalf of clients.

Technology 98

Technology audit Education accounting and finance 98

Going Concern

NOVEMBER 18, 2022

Teaching Accounting Students an Alphabet Soup of Technology [ The CPA Journal ]. The superseding indictment adds charges against three tax professionals, Kevin McDonnell, James Richardson and Craig Fenton. McDonnell and Richardson, both CPAs, allegedly owned and operated McDonnell Richardson, P.C.,

Technology 81

Technology audit auditor accounting and finance 81

Going Concern

APRIL 15, 2022

To counter this perception, the accounting profession could be rebranded as a foundational force of social stability and progress, and not just as “a job” with long hours and low return on investment (ROI) on education. For example, every startup would benefit immensely from having a CPA among its founders.

accounting firms 52

accounting firms audit Account accountant 52

CPA Practice

FEBRUARY 1, 2023

The penalty will be further reduced to 10% for IRA owners if the account owner withdraws the RMD amount previously not taken and submits a corrected tax return in a timely manner. Rahill, CPA/PFS, JD, LL.M., CGMA, is a Managing Director at Wintrust Wealth Management.

Illinois 96

Illinois Start-ups Tax CPA 96

Going Concern

APRIL 5, 2024

Education School of Accounting will honor alums at Wilton T. Generally, taxpayers who receive rebates for the purchase of energy efficient homes will not include the value of those rebates as income on their tax returns, however they will need to reduce the basis of the property when they sell it by the amount of the rebate.

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auditor audit Oklahoma CPA 86

Basis 365

MARCH 30, 2023

Running an accounting department involves basic bookkeeping knowledge to code simple transactions, college-educated accounting knowledge for proper accruals, and controller-level skills for budgeting/forecasting. You now have a highly-educated professional performing low-level tasks. CPA firm : CPAs do tend to document well.

accrual accounting 52

accrual accounting Account accountant accounted 52

Going Concern

SEPTEMBER 22, 2023

Both Mendlowitz and his father, also a CPA, attended the CUNY school. Summing up Sid: The ultimate CPA and friend to all [ Journal of Accountancy podcast ] Plenty of CPAs can say they learned something from Sid Kess, who died last week at age 97. It’s free and provides CPE; advance registration is required.

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Nancy McClelland, LLC

FEBRUARY 13, 2022

In all seriousness, here’s the story: 1) The IRS, in an attempt to deter fraud, for 2021 began requiring all pass-through entities to disclose foreign transactions as part of the tax returns and the K-1 package to shareholders and partners. 2021 Tax Advisor) • AICPA Comment Letter, K-2/K-3 (Sept.

tax preparation 52

tax preparation Tax CPA tax return 52

Going Concern

APRIL 14, 2023

The firm had a contract to perform the 2022 year-end audit for $26,135, but in order to complete it, the CPAs had to spend a lot of time doing extra accounting work that the previous town employees had failed to do, it was stated. Four days a week on average, Hudgins serves as auditor for the NC Education Lottery (NCEL).

Tax 102

Tax auditor audit accounting firms 102

CPA Practice

AUGUST 17, 2023

We’ve already used AI to make transformative headway in areas like document management and tax research,” said Sona Akmakjian, CPA, global head of strategic accounting partnerships for Avalara. Not that long ago, she says that tax technology companies had large staffs of attorneys and CPAs who each had a jurisdiction to research.

accounting firms 98

accounting firms Account accountant accounted 98