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Sales tax risk: What to ask (part 2)

TaxConnex

Tangible personal property (TPP) generally incurs sales tax; services still often don’t. TPP can be exempt from sales tax depending on the product, the state and if it’s sold during a sales tax holiday. Buyers often accept no sales tax risk, and current or past sales tax exposure can cripple or kill even a deal.

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The Rise of Non-CPAs in CPA Firm Acquisitions

CPA Practice

The accounting profession is undergoing a significant transformation as more non-CPAs acquire CPA firms. A growing number of non-CPA buyers are acquiring multiple CPA firms to build scalable, regional, and niche accounting businesses. The Trend: Why Are Non-CPAs Buying CPA Firms?

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Year-End Tax Strategies for Businesses

Withum

Cash Incentives for Clean Energy Investments One of the most significant changes stemming from the Inflation Reduction Act of 2022 is the ability for for-profit and not-for-profits entities to convert their clean energy credits to cash. For-profit entities can apply clean energy credits against their federal income tax due.

Tax
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Growing pains at the highest-growth firms

Accounting Today

Its really coming around to our internal employees and saying, "Its not just [a tax return], you are worth this." What youre doing is saving a family business or its improving the profitability of a business and so the value is there," she continued.

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2025 Fastest-Growing Firms: An entrepreneurial mindset at REDW

Accounting Today

Steve Cogan (00:09): Well, REW, we have about 40% of our firm is advisory services, and we have about 10 different unique advisory services businesses within the firm, and theyre all entrepreneurial and kind of independent departments that just do a great job serving our clients.

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Answering your MTD for Income Tax FAQs

Accounting Insight

Your clients will need to use MTD for Income Tax if they are sole traders and landlords, and: from 6 April 2026, their total gross income from their self-employment and/or property exceeds 50,000 in 2024-25. Who is exempt from MTD for Income Tax? Non-resident companies. Foreign businesses of non-UK domiciled individuals.

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Breaking News: Federal Court Ruled Corporate Transparency Act Unconstitutional – Beneficial Ownership Information Reporting on Hold

Withum

By way of background, the CTA was enacted on January 1, 2021 as part of the 2021 National Defense Authorization Act as an attempt to prevent money laundering and tax evasion by requiring new reporting for certain companies doing business in the US. Stay tuned for further developments as they arise.