This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The accounting profession is undergoing a significant transformation as more non-CPAs acquire CPA firms. While private equity firms buying large CPA practices may make headlines, a more impactful shift is happening beneath the surface. The Trend: Why Are Non-CPAs Buying CPA Firms?
Mary Girsch-Bock AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. The survey polls chief executive officers, chief financial officers, controllers, and other CPAs in U.S. companies who hold executive and senior management accounting roles.
He also prepared tax returns for clients with deductions he knew to be false. On his own incometax filings, according to court records, he also underreported his commission income from the scheme by $400,000. Nine other people—six CPAs, an appraiser and two attorneys—previously pleaded guilty in the case. _
Mary Girsch-Bock AICPA News is a collection of recent announcements and news briefs from the American Institute of CPAs. AICPA Announces Retirement of Carl Peterson, Longtime Advocate for Small CPA Firms The American Institute of CPAs (AICPA) recently announced that Carl Peterson, vice president of small firm interests, will retire June 30.
29, alleged that former CFO Donna Dellomo and former controller Yoon Um, both CPAs, failed to properly record the cost of shipping finished products from Lovesac’s distribution center to its end customers. Lovesac to settle accounting violation suit brought by SEC for $1.5 million [ Furniture Today ] The SEC complaint, filed in the U.S.
CPAs ($25,000), Raymond Chabot Grant Thornton in Canada ($30,000), and PWR CPA ($60,000). Jason Bramwell Auditing July 15, 2025 Three Accounting Firms Got in Trouble for Breaking PCAOB Rules The three firms censured and fined by the PCAOB on July 11 for violating U.S. auditing rules and standards were Goldman & Co.
Whether your clients are investing in commercial buildings, launching new ventures, or improving existing properties, this update creates fresh opportunities for accelerated deductions.
Now, the cap restricts the total deduction to $10,000, irrespective of the actual taxes paid. How the SALT cap affects state budgets The cap, which limits the amount of state and local taxes that can be deducted from federal incometaxes, has far-reaching consequences.
The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) 3 deadline for both states applies to individual incometax returns and payments normally due on April 15, 2025. For individual taxpayers, this means Oct.
Jason Bramwell Accounting July 7, 2025 AICPA News – July 2025 AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. has added a 14th firm to its roster—Raleigh, NC-based Williams Overman Pierce.
OBannon Mergers and Acquisitions July 17, 2025 Doeren Mayhew Acquires Reimer McGuinness Hess in Texas The top 60 accounting firm has acquired Houston CPA firm Reimer McGuinness Hess CPAs & Advisors, growing its presence in the market, effective July 1.
OBannon Firm Management July 15, 2025 The Rise of Non-CPAs in CPA Firm Acquisitions A growing number of non-CPA buyers are acquiring multiple CPA firms to build scalable, regional, and niche accounting businesses. Jason Bramwell Mergers and Acquisitions July 16, 2025 Welch & Co.
Sole owner of Zion Outfitter, an outdoor retailer in Springdale, Utah, he handled the company finances and provided CPAs with information and records to prepare tax forms to submit to the IRS. He underreported his taxable personal income, which resulted in his evading at least $1.9 million in incometax.
As shares vest and increase in value, so do the incometax consequences of receiving them as compensation. By filing the 83(b) election, you can lock in the lower equity valuation for tax purposes, saving you and would-be investors considerably. This is a case where knowledgeable CPAs are worth consulting with.
OBannon Accounting Standards June 16, 2025 AICPA Seeks Comment on Proposed Criteria for Stablecoin Controls The American Institute of CPAs (AICPA) is reinforcing its role as a leading voice in the treatment of digital assets by providing a framework for controls over stablecoins.
Subscribe Tags: Accounting , Chartered Institute of Management Accountants , CIMA , John Graham Recommended Accounting Articles View All Accounting Articles Accounting June 18, 2025 AICPA News – June 2025 AICPA News is a collection of recent announcements and news briefs from the American Institute of CPAs.
” Founded in 1991 by Elliot Melamed and Steve Karp, Elliot Melamed PA includes five CPAs and a support staff, and serves hundreds of clients by providing assurance services, tax services, and consulting. “Bringing assurance services in-house allows us to deliver on that promise.”
The upgraded incometax return solution now includes enhanced client onboarding workflows that allow firms to create multiple engagements in bulk to accelerate onboarding. The new AI document assistant transforms lengthy documents into actionable insights by extracting key details.
Mary Girsch-Bock Accounting June 18, 2025 AICPA News – June 2025 AICPA News is a collection of recent announcements and news briefs from the American Institute of CPAs. She began her career as accountant and later made the switch to writing full time, concentrating on business and technology, with a focus on small business.
Mary Girsch-Bock Accounting June 18, 2025 AICPA News – June 2025 AICPA News is a collection of recent announcements and news briefs from the American Institute of CPAs. million in COVID-19 relief loans in Pennsylvania. million in COVID-19 relief loans in Pennsylvania.
Built by CPAs for CPAs, Crunchafi reflects the company’s continued mission to streamline complex accounting work. Crunchafi (pronounced crunch-uh-fy ) blends the legacy of “crunching numbers” with a forward-looking focus on accounting and financial intelligence, the “afi” at the core of the new name.
Subscribe Recommended Accounting Articles View All Accounting Articles Accounting June 18, 2025 AICPA News – June 2025 AICPA News is a collection of recent announcements and news briefs from the American Institute of CPAs.
Subscribe Tags: Accounting Recommended Accounting Articles View All Accounting Articles Accounting June 18, 2025 AICPA News – June 2025 AICPA News is a collection of recent announcements and news briefs from the American Institute of CPAs.
You’d think it paid a lot in taxes, right? Well it paid precisely $0 in federal incometaxes last year. Sendil Palani replies : Professor, Respectfully, Tesla’s incometaxes are not an example of fraud. Tesla complies with all tax regulations in all of the regions of the world in which we operate.
The solution is built off Audit Sights AI engine: FARS (Financial Anomaly Risk Score), an AI model trained by CPAs and informed by millions of financial transactions, which leverages multidimensional pattern recognition to surface unusual entries often buried in raw accounting data. By Michael Cohn July 10 Like what you see?
Technology Expense management software Expense management MORE FROM ACCOUNTING TODAY Audit PCAOB sanctions three firms The Public Company Accounting Oversight Board today sanctioned Goldman & Company, CPAs, Raymond Chabot Grant Thornton, and PWR CPAs. By Michael Cohn July 10 Like what you see?
So they have attorneys, CPAs, enrolled agents, a couple of others which are very minor. (28:39): 28:39): So CPAs, there were 204,522 CPAs with thein. billion in fraudulent earned incometax credits given out, which represented about a third of the tax returns that had the EITC credit on there.
OBannon For several weeks, the American Institute of CPAs (AICPA), along with various other stakeholders, have raised concerns over proposals to eliminate the pass-through entity tax (PTET) state and local tax (SALT) deduction for specified service trades or businesses (SSTBs). Log In Need more information?
Madison Street Advisors is a mid-size national tax planning and preparation firm with a focus on audit mitigation strategies and reduction of audit profiles. Its team of attorneys, CPAs, and enrolled agents have extensive experience in representing clients in disputes with the IRS and state agencies.
This eliminates what would have been significant rate increases up to 15 percentage points for foreign individuals and entities, along with the "super BEAT" expansion that would have broadened affected entities and the tax base.
Most of the companys income was generated from the Ohio Department of Disabilities, which receives its funding through Ohio Medicaid. IRS records analysis confirmed that the defendant did not file incometax returns for 2015 and 2016, but he eventually prepared and filed those documents two years later, in April 2018.
extension on filing taxes and payment) beyond what was initially provided when the state of emergency was declared. Tax Filing Advice from CPAs Americans impacted by a disaster still must comply with tax obligations. Thanks for reading CPA Practice Advisor!
The response, sometimes heated, confirmed that this is an issue that employers and individual CPAs are wrestling with. Blick Rothenberg said ‘Making Tax Digital’, which requires taxpayers to report quarterly rather than annually, would not lead to any additional revenue for HMRC. I appreciated hearing from everyone.
In the wake of the sweeping One Big Beautiful Bill Act (OBBBA), signed into law just one week prior, accounting professionals are scrambling to understand and apply a raft of new federal tax provisions.
Brian Tankersley , Randy Johnston Mergers and Acquisitions July 17, 2025 Doeren Mayhew Acquires Reimer McGuinness Hess in Texas The top 60 accounting firm has acquired Houston CPA firm Reimer McGuinness Hess CPAs & Advisors, growing its presence in the market, effective July 1.
OBannon Thirty-seven percent of Americans have experienced fraudulent activities after being personally and/or professionally impacted by a natural disaster, according to a recent survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA).
News Tax firm owned by Anne Arundel lawyer found liable in unjust enrichment case [ Maryland Daily Record ] An accounting firm owned by Glen Frost, the founder of one of Anne Arundel Countys largest law firms, was found liable for unjust enrichment and ordered to pay more than $680,000 after a jury trial last month.
In an unusual twist, it could have to pay federal incometaxes on those paper gainseven if it never sold a single bitcoin. The tax bill could total billions of dollars starting next year, according to a new disclosure this month by MicroStrategy that has received little attention.
Here they are: Top Remote Tax and Accounting Candidates of the Week | July 17, 2025 Firm Watch Doeren Mayhew expands to lakeshore market in deal for Grand Haven CPA firm [ Crain’s ] The Troy-based Doeren Mayhew closed last month on the acquisition of Draper Bialik & Co. Department of Justice.
After graduating from BYU five years ago, she worked as a CPA then gave birth to Tommy. The IASB wants input from Australian CPAs on IFRS : CPA Australia is calling on its members to participate in a survey that is expected to help inform the future direction of International Financial Reporting Standards (IFRS).
GEORGIA Shelly Carmichael Smith + Howard, Atlanta, launched two new tax practices: site selection + incentives, led by Shelly Carmichael, and state and local incometax consulting, led by Brandee Tilman. Read the full story.) ILLINOIS Jason Van de Loo was appointed CEO at Choreo, Chicago.
Jason Bramwell Accounting July 7, 2025 AICPA News – July 2025 AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. has added a 14th firm to its roster—Raleigh, NC-based Williams Overman Pierce.
Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect treatment as a single member LLC for federal incometax purposes. Single-Member LLC Tax Basics. You don’t need to file a separate federal incometax return for the single-member LLC. Three key points.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content