ThomsonReuters

DECEMBER 11, 2023

Accounting for tax equity investments Implementing ASU 2023-02 Accounting professionals with equity investor clients who are involved with projects to receive income tax credits and other income tax benefits need to have a clear understanding of the proportional amortization method (PAM), especially in light of recent changes.

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ThomsonReuters

OCTOBER 12, 2023

Paying taxes on money earned abroad Avoiding double taxation Helping clients who live abroad with their taxes U.S. income tax returns, just like individuals living in the United States. However, the tax obligations for expats can be different and more complex due to their international status. tax return.

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inDinero Tax Tips

MARCH 2, 2023

Bitcoin Tax Rate: What You Need to Know As the popularity of cryptocurrency grows, so does the scrutiny of tax authorities. The Bitcoin tax rate depends on the holding period of the cryptocurrency and the taxpayer’s income tax bracket. Do You have to pay taxes on cryptocurrency gains?

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inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware offers perhaps the most favorable tax treatment to businesses. Historically, in the U.S.,

Delaware 52

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Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. Accounting Standards Update No. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

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ThomsonReuters

OCTOBER 12, 2023

person holding an interest in specified foreign financial assets with an aggregate value exceeding $50,000 at the end of the tax year or $75,000 at any time during the tax year is required to report these assets on Form 8938. It is filed with their annual federal income tax return if they meet certain criteria.

Real Estate 40

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inDinero Tax Tips

MARCH 2, 2023

Bitcoin Tax Rate: What You Need to Know As the popularity of cryptocurrency grows, so does the scrutiny of tax authorities. The Bitcoin tax rate depends on the holding period of the cryptocurrency and the taxpayer’s income tax bracket. Do You have to pay taxes on cryptocurrency gains?

Tax 52

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Cherry Bekaert

APRIL 26, 2024

The Financial Accounting Standards Board (FASB) issued two Accounting Standard Updates (ASUs) in the first quarter of 2024. The Government Accounting Standards Board (GASB) did not issue any new GASB Statements in the first quarter of 2024. However, FASB Concepts Statements are nonauthoritative.

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ThomsonReuters

OCTOBER 12, 2023

Jump to: What is foreign income? How to report foreign income What is Form 1099-DIV? Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. citizens living abroad or earning income from foreign sources, questions often arise on how the U.S.

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ThomsonReuters

FEBRUARY 8, 2024

Accounting assumptions, along with accounting principles and concepts, provide professionals with the necessary framework for preparing financial statements. It should be noted that accounting assumptions are not based on subjective opinions or guesstimates.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. have a year-round reliable accounting team and. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts.

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inDinero Tax Tips

MAY 21, 2021

See TITLE Guide for more information on the R&D Credit Four-Part Test. In 2015, the Protecting Americans from Tax Hikes Act (PATH Act) changed the tax code to permanently include the R&D tax credit. Even the recent Tax Cuts and Jobs Act (TCJA) legislation retained the provisions on R&D.

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inDinero Tax Tips

JUNE 12, 2023

Quite a few issues can arise if you mix your business and personal funds— from minor inconveniences to high financial costs and even legal trouble. Mixing funds makes this information difficult to track. Future investors or creditors will want to know your financials, not to mention the confusion this will bring come tax time.

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ThomsonReuters

FEBRUARY 1, 2024

GAAP rules for outstanding checks Staying up to date with GAAP standards Accurately tracking and presenting financial information can be complex, even for smaller organizations. Enter Generally Accepted Accounting Principles, more commonly known as GAAP. And how can accounting professionals stay up to date with GAAP standards?

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Withum

OCTOBER 11, 2023

Even more of the TCJA provisions expire in 2026, including the elimination of the pass-through (199A) deduction and an increase in the top individual income tax rates to 39.6%. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

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inDinero Tax Tips

DECEMBER 18, 2020

However, the tax rules for startup costs can make a grown man cry. And maybe you can save a few dollars of income taxes along the way. It’s commonly known, when it comes to taxes, you can’t always get what you want— but with the help of the inDinero tax team —you can get what you need.

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FraudFiles

JANUARY 26, 2022

Gather and secure as much financial documentation as possible. Any financial documents in the residence should be copied and put in a secure place outside the home. In order to ensure that everything is accounted for in the divorce, you should not rely on your memory going forward. Important facts can be forgotten easily.

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ThomsonReuters

JANUARY 18, 2024

“The accountants’ roles and responsibilities remain the same when it comes to ensuring the input is accurate and the output is correct and not misleading.” The goal: to ensure that financial information is consistently and accurately reported. Article How to become an accounting consultant (and why).

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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. A narrow focus on numbers. For example, every startup would benefit immensely from having a CPA among its founders.

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MyIRSRelief

MAY 15, 2024

Understanding the Importance of Maintaining Tax-Exempt Status One of the primary concerns for any nonprofit is maintaining its tax-exempt status under IRC Section 501(c)(3). This status exempts nonprofits from federal income tax on their earnings related to their exempt purpose. and foreign tax laws. A : Not quite!

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Cherry Bekaert

JANUARY 29, 2024

The Financial Accounting Standards Board (FASB) issued nine Accounting Standard Updates (ASUs), and the Government Accounting Standards Board (GASB) issued only one new GASB Statement in 2023. The latest issue of the Rundown features a summary of the new standards issued in the fourth quarter 2023.

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Cherry Bekaert

FEBRUARY 8, 2023

The Financial Accounting Standards Board (FASB) issued only six new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) issued only three new GASB Statements in 2022. Standard setters were relatively inactive this past year. acquisition, material litigation, issuance of a patent).

Non-Profits 40

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Cherry Bekaert

JULY 20, 2023

The Financial Accounting Standards Board (FASB) has issued only two new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) has not issued any new GASB Statements in 2023. Substantially all of the projected benefits are from income tax credits and other income tax benefits.

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inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Information needed to register includes a Name and Entity type. The amount of franchise tax and how each state calculates the tax varies. Delaware Informational Return: Form 1902(b).

Delaware 64

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inDinero Accounting

JANUARY 9, 2023

With this information, your accountant can also dig down a little deeper into your operations with unit economics. Your accountant will combine your financial data with inventory and operations data to determine per unit values for each of these and other indicators.

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inDinero Accounting

JANUARY 9, 2023

With this information, your accountant can also dig down a little deeper into your operations with unit economics. Your accountant will combine your financial data with inventory and operations data to determine per unit values for each of these and other indicators. Deferred Tax Credits. Administration.

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inDinero Accounting

JUNE 24, 2021

One business area with lots of corporate accounting terms is preparing the three essential (3E) financial reports : the profit & loss statement, the balance sheet, and the cash flow statement. In this article, you’ll find the essential information to 38 FAQs about business financial statements and links to further reading.

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inDinero Tax Tips

DECEMBER 13, 2020

If you have capital gains from appreciated investments (that are not tax-deferred like an IRA, 401(k), 403(b) and so on), then you might consider selling some investments before the end of 2020 to save income taxes. Currently, long-term capital gain rates are 0%, 15% or 20%, depending upon your tax bracket. Probably not.

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Going Concern

DECEMBER 23, 2022

PCAOB Proposes Tighter Requirements for Audit Firms Verifying Outside Information About Clients [ Wall Street Journal ]. Under the current rule, audit firms must send out requests, typically electronically, asking a third party to confirm the accuracy of certain information, such as the amount of accounts receivable.

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