Insightful Accountant

FEBRUARY 5, 2024

Changes to the AICPA Statements on Standards for Tax Services (SSTS) are potentially impacting CPAs. While these changes do not govern EAs and other tax preparers, CPAs who offer even a small amount of tax services should be paying attention.

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Withum

MARCH 30, 2024

Withum is excited to announce that on March 31, 2024, BBD LLP (BBD); a public accounting, tax and advisory firm dedicated to serving nonprofit and government organizations headquartered in Philadelphia, will join its practice with Withum. The post BBD Joins Its Practice With Withum appeared first on Withum.

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cpa firm CPA Government public accounting 124

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

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Withum

FEBRUARY 21, 2022

government the authority to revoke U.S. passports or reject passport applications for individuals who have delinquent tax debts in excess of $52,000, provided such debts have been certified by the Internal Revenue Service. International Services. The post Owe Taxes? The law gives the U.S. Contact Us. Contact Us.

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Tax Transportation tax services Government 128

TaxConnex

MARCH 3, 2022

Understanding the taxability of your company’s products or services is one of the key steps to complying with sales and use tax laws. Services” are not tangible and can be an entirely different animal in terms of taxability. Services continue to pop up among states’ lawmakers as a potential new source of sales tax revenue.

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CPA Practice

JANUARY 30, 2024

sales tax rate changes reached a 10-year high in 2023, proving once again that it will be challenging for businesses to meet their ever changing compliance obligations. This is according to data in the 2023 End-of-Year Sales Tax Rates and Rules report, which is conducted annually by Vertex a provider of tax technology solutions.

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Sales Tax auditor tax services 72

Going Concern

JULY 6, 2023

When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. Spoiler: it was not.

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Withum

SEPTEMBER 16, 2022

It is no surprise that states are seeing significant growth in sales tax revenue, a trend fueled by changes in consumer spending during the pandemic. Second, the government issued stimulus checks which pumped more spending money into the economy for those not hurt financially by the pandemic. Simplifying the Sales Tax Rules.

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Sales Retail Tax South Dakota 80

Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. Q7: When do I report the tax-exempt income relating to PPP loan forgiveness?

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Tax tax return income tax corporation tax 126

Withum

SEPTEMBER 22, 2022

The IRS ruled that the PPP loan forgiveness amount is not tax-free, even if the SBA and lender granted the borrower full loan forgiveness, if the taxpayer did not satisfy the factual requirements for loan forgiveness. The rest of the analysis in the CCA is a relatively straightforward application of the tax law. Contact Us.

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CPA Practice

APRIL 27, 2023

In many cases, project grants are provided by governments (federal, state and/or local) and awarded based on merit. Julio Gonzalez is truly the nation’s forefather of specialty tax services. These tax services are critical to creating, preserving, and maintaining U.S.-based based jobs.

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Withum

SEPTEMBER 2, 2022

The federal tax incentive for qualified energy property was extended through the IRA for most projects that begin construction before January 1, 2025 (2035 for geothermal energy used for healing and cooling a structure). For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

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Tax Construction Government tax services 69

Withum

DECEMBER 4, 2023

Court of Appeals which, held that the Transition Tax under Section 965 of the Internal Revenue Code was a constitutional tax. The taxpayers argued that the Transition Tax was on earnings that they never realized from the CFC and that the government had imposed a direct tax that must be apportioned among the states.

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Tax tax return audit tax services 72

Anders CPA

NOVEMBER 21, 2023

Year-end is approaching fast, which means this is the perfect time for businesses to make some final adjustments to their tax planning strategies. Exploring options such as a de minimis safe harbor election or purchasing assets to take advantage of 2023’s bonus depreciation of 80% could have a big impact on a business’s tax burden come April.

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Withum

JUNE 1, 2022

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs.

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business tax Tax income tax tax return 119

MyIRSRelief

APRIL 15, 2021

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in. Here’s a look at several things to know surrounding R&D tax credits. First off, what are R&D tax credits? Increased ROI.

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Tax payroll tax tax return Start-ups 100

LyfeAccounting

JANUARY 7, 2021

?. Government spending represents over ? Who is profiting from government spending? Government contractors. That’s a lot of money going into the hands of businesses that are set-up to get government contracts. That’s a lot of money going into the hands of businesses that are set-up to get government contracts.

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Government tax return accounting and finance Start-ups 59

xendoo

APRIL 3, 2023

As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. CFO services?

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Tax tax preparation business tax bookkeeping 52

xendoo

APRIL 3, 2023

As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax credits, you’ll only owe $10,000. But, there are over 30 business tax credits. What is Form 3800?

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Tax tax preparation business tax income tax 52

inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

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Tax income tax Legal Entertainment 52

Going Concern

JANUARY 4, 2024

Tax Credits & Incentive Services). Antonache manages federal and state tax consulting and compliance matters related to incentives for renewable energy development. International Tax Services). Automotive & Dealer Services Practice). Financial Services Practice). Financial Services Practice).

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Real Estate Hospitality Construction audit 57

PYMNTS

FEBRUARY 6, 2020

Business information firm Thomson Reuters is teaming up with global tax company KPMG to offer Australia businesses a solution to deal with fringe benefits taxes (FBT), Thomson Reuters announced Thursday (Feb. The ONESOURCE FBT software automates the tax calculations necessary to file an FBT return. “As

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business tax Tax Technology income tax 52

ThomsonReuters

FEBRUARY 26, 2024

Upon graduation, Heath worked for one of Nebraska’s largest sole CPA tax practitioners, who not only taught her the accounting business but became a true mentor to her. It was working there that she realized there was a great need and lots of opportunity for tax services professionals in her existing community.

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CPA South Dakota Nebraska Tax 98

Withum

FEBRUARY 27, 2023

Over the past few days, the IRS has issued several updates regarding tax relief for victims of severe winter storms, flooding, landslides, and mudslides. The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments.

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California tax return Nevada payroll 119

Cherry Bekaert

SEPTEMBER 22, 2023

The Tax Cuts and Jobs Act of 2017 (TCJA) gave way to the OZ program, which instantly became a hot topic across the real estate industry. The program intrigued investors with opportunities to defer tax on their capital gains until December 2026 and receive a stepped-up basis in their investment for at least 10 years.

Real Estate 111

Real Estate Agriculture Construction Non-Profits 111

PYMNTS

FEBRUARY 24, 2020

Tax season is upon U.S. In a new report from ProofPoint , researchers warned that any businesses with the word “tax” in its domain is at risk of being spoofed by phishing attackers targeting small to medium-sized businesses (SMBs). Indeed, tax season isn’t the only threat hitting SMBs, either.

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Tax North Carolina Construction B2B 65

CPA Practice

APRIL 26, 2024

By Arcelia Martin, The Dallas Morning News (TNS) Within 45 minutes of the Federal Trade Commission posting its latest ruling outlawing noncompete clauses , Ryan, a Dallas-based global tax services firm, filed the first of what would soon be a slew of lawsuits against the ban. For Ryan’s CEO Brint Ryan, it’s about principle. “I

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PYMNTS

MARCH 12, 2020

The joys of tax season: complex paperwork, long wait times and check disbursements. Many United States consumers are still reliant on paper checks when it comes to receiving their tax refunds, which represents the largest sum of money many of them will receive at one point during the fiscal year.

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Tax tax return corporation tax bookkeeping 52

PYMNTS

MARCH 15, 2019

With the first tax season post-tax reform nearing completion in the U.S., Ongoing regulatory changes and persistent uncertainty mean that that importance will continue even outside of tax season, with challenges that even the most automated of accounting software solutions cannot always tackle. Tackling Tax.

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CPA Practice

FEBRUARY 19, 2024

Professionals on the Move is a round-up of recent promotions and staffing announcements from around the accounting and tax profession. Schneider Downs Boosts Tax Team Schneider Downs & Co., Hailey Adams , Tax Manager, has been in public accounting for over 9 years, primarily focusing on tax-exempt organizations.

New Hampshire 64

New Hampshire audit accounting and finance Non-Profits 64

CPA Practice

DECEMBER 12, 2023

Founded in 1981, RBTK specializes in overall accounting and tax services, but it also provides insightful business solutions, including business succession and retirement considerations. A merger with Sioux Falls, SD-based technology solutions company High Plains Technology is expected to become official on Jan. 8, 2024.

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cpa firm CPA Construction Real Estate 52

Withum

JULY 25, 2022

NY COVID-19 Capital Costs Tax Credit Program. The capital costs tax credit program is a $250 million program that allows small businesses to receive a maximum credit of up to $25,000 for qualifying expenses. Business Tax Services. How Can Withum Help? Contact Us. Contact Us.

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New York tax services business tax payroll 78

Withum

DECEMBER 23, 2023

Small business owners have been suffering in recent years with various federal tax laws impeding their ability to operate and grow. Congressional leaders went home this week for winter recess so there is no way for a tax extender bill to be passed in 2023, but there remains a glimmer of hope for action in early 2024.

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Pharmaceutical accounting and finance Tax income tax 52

Accounting Insight

APRIL 21, 2023

Nevertheless, considering the impact of technology on how we conduct business and engage with the world, digital transformation will be indispensable to facilitate tax and Budget adjustments. Notably, alterations to the tax relief on research and development (R&D) were a crucial element of the Budget.

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Account accountant accounted Technology 59

Withum

MARCH 15, 2022

To stave off an impending government shutdown, federal lawmakers passed a $1.5 billion for taxpayer services, including the Office of Taxpayer Advocate, and increased hiring; $5.4 Business Tax Services. trillion funding bill that includes a $12.6 billion budget for the IRS. billion for enforcement; $4.1 Contact Us.

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tax services business tax Government Tax 119

Withum

NOVEMBER 29, 2023

Federal income tax or information return reporting more than $5 million in U.S.-source FinCEN will store the information in a secure, non-public database and it will be made available only to certain government agencies and foreign officials that submit a request to FinCEN related to national security, intelligence, or law enforcement.

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Legal Non-Profits income tax Tax 115

Going Concern

OCTOBER 19, 2022

19: The number of new partners and principals who work in either assurance or tax, the most of any service line at BDO. Scott Ashworth , Tax, Atlanta. James Backes , Tax, St. Matt Bartholomew , Transaction Advisory Services, Salt Lake City. Matt Bartholomew , Transaction Advisory Services, Salt Lake City.

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New York Washington tax services Tax 57