RogerRossmeisl

SEPTEMBER 4, 2023

Qualified long-term care services are necessary diagnostic, preventive, therapeutic, curing, treating, mitigating and rehabilitative services, and maintenance or personal-care services required by a chronically ill individual that are provided under care administered by a licensed healthcare practitioner.

Tax 232

Tax Healthcare CPA 232

Accounting Today

APRIL 15, 2024

The Internal Revenue Service reported stronger performance on Monday, April 15, as it concluded this year's tax filing season, saying it had answered 1 million more phone calls from taxpayers and helped 170,000 people in person compared to last year.

Tax 115

Tax income tax 115

TaxConnex

JANUARY 18, 2024

1 and South Dakota’s took effect last July 1). TaxConnex provides services to become your outsourced sales tax department. Thresholds repealed Some of the major recent news about thresholds is good, in that states are starting to end the per-transaction requirement for economic nexus.

South Dakota 203

South Dakota Louisiana Colorado Alaska 203

RogerRossmeisl

SEPTEMBER 19, 2022

The credit applied only to property placed in service before January 1, 2022. The credit is now extended for energy-efficient property placed in service before January 1, 2033. Non-business energy property Before the IRA was enacted, you were allowed a personal tax credit for certain non-business energy property expenses.

CPA 221

CPA Tax 221

RogerRossmeisl

JANUARY 8, 2023

The credit generally applies to vehicles having >4 wheels that are placed in service from 1/1/2023 – 12/31/2032. The Clean Vehicle Credit, brought to you by the Inflation Reduction Act of 2022 (IRA ’22), is the successor to the New Qualified Plug-in Electric Drive Motor Vehicle Credit.

CPA 227

CPA Tax cpa firm 227

TaxConnex

FEBRUARY 8, 2024

More and more states, like Kentucky , are also starting to impose sales tax rates on services , which historically was an area free of sales tax in many states. 1, 2023, and perhaps will be reduced to 2% this coming Sept. 1 if certain other budgetary factors are met. (For Rate changes can run contrary to usual trends.

Sales 191

Sales Tax South Dakota Kentucky 191

RogerRossmeisl

MARCH 5, 2024

Here are five possible options: 1. Reasonable compensation that you, or family members, receive for services rendered to the corporation is deductible by the business. 5 different approaches Thankfully, there are some alternative methods that may allow you to withdraw cash from a corporation while avoiding dividend treatment.

Tax 160

Tax CPA business tax 160

RogerRossmeisl

SEPTEMBER 4, 2023

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. Eligibility rules If you make eligible energy-efficient improvements to your home on or after January 1, 2023, you may qualify for a tax credit up to $3,200.

Tax 222

Tax CPA 222

CPA Practice

DECEMBER 19, 2023

Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County. to 4.5% effective December 1, 2023. to $250 effective July 1, 2023. cents per gallon.

South Carolina 111

South Carolina Tax Florida tax return 111

TaxConnex

JANUARY 25, 2024

1 or July 1, by the calendar year or by the fiscal year. Take software-as-a-service. Exemption certificates A sales tax exemption certificate alleviates a company from collecting and remitting sales tax on certain products and services. Clients often ask us, “How often should we evaluate the taxability of our products?”

Utah 181

Utah Kentucky Alabama Michigan 181

TaxConnex

MARCH 26, 2024

Know when your products or services are taxable If you’ve established nexus in a state, then you must determine if your products and/or services are taxable within that same state. If your products and/or services are not taxable in a state or jurisdiction, you do not have a sales tax obligation, even if you do have nexus.

Sales 159

Sales Tax tax return Retail 159

Accounting Today

MARCH 22, 2024

The Internal Revenue Service's efforts to halt fraudulent claims for the Employee Retention Credit have protected more than $1 billion since the IRS instituted a processing moratorium.

Tax 107

Tax 107

TaxConnex

AUGUST 15, 2023

Effective July 1, New Mexico’s state-level gross receipts tax rate also dropped from 5% to 4.875%.) 1, 2024, the rate will drop to 2% if the state’s Education Trust Fund meets a specified growth requirement (or if the fund meets the requirement in a future fiscal year). Kansas no longer taxes delivery charges , as of July 1.

Sales 130

Sales Tax Alabama Texas 130

Withum

SEPTEMBER 11, 2023

If you are one of those owners, have you ever looked at your K-1? To move forward on explaining your K-1, we first must take a step back. Enter the K-1. At its most basic function, the K-1 reports an owner’s share of the entity’s income, deductions, adjustments and tax credits.

tax return 124

tax return income tax Healthcare Tax 124

Withum

NOVEMBER 2, 2023

Withum is pleased to share that it has successfully completed a System and Organization Control (SOC) 2 Type 1 examination in accordance with the standards set forth by the Association of International Certified Professional Accountants (AICPA). Client data security is of the utmost importance in today’s business landscape.

audit 111

audit auditor cpa firm CPA 111

CPA Practice

APRIL 9, 2024

Generally, around 100 new district taxes are enacted each year to fund fire protection, emergency services, hospitals and other services. Of the 76 sales tax rate changes that took place at the county level, 52 were rate increases and only 24 consisted of decreases — a nearly 2:1 ratio. Despite half of U.S.

Sales 110

Sales Tax Minnesota Tennessee 110

CPA Practice

FEBRUARY 2, 2024

They’re over for a few reasons: Reason #1: Most clients don’t value accounting as much as we think they should. Skill #1: Messaging Skills Skill #2: Giving Advice Skills Skill #3: Scaling Skills Let’s look closely at each of these. At the same time, you can’t raise your fees because of #1 above. Those days are over.

Account 119

Account accountant accounted tax return 119

CPA Practice

MARCH 18, 2024

Personalized customer surveys are a powerful tool in garnering this essential information, enabling you to tailor your firm’s products, services, and communication effectively. Is it to gauge customer satisfaction, get service feedback, or understand the client’s future needs? A client satisfaction survey can help you do that.

cpas 64

cpas Tax 64

Withum

NOVEMBER 29, 2023

Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Reporting starts January 1, 2024, and nothing can be filed before that date. 1 & FAQ F.4. Treasury Department. 5 & FAQ J.1.

Legal 115

Legal Non-Profits income tax Tax 115

CPA Practice

DECEMBER 18, 2023

The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. Available at IRS.gov/businessaccount , the new business tax account is a key part of the agency’s continuing service improvement initiative.

tax accountant 126

tax accountant business tax Tax Account 126

Accounting Today

AUGUST 30, 2023

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

Tax 140

Tax 140

Cherry Bekaert

MARCH 18, 2024

During this episode they discuss the many benefits of Service Organization Control (SOC) 2 reports, such as security insights, gaining customer trust and risk management, and how those benefits bring value to a company.

Account 116

Account accountant accounted 116

CPA Practice

FEBRUARY 8, 2024

based area code for faxing EFIN documents and also provides instructions on obtaining EFIN documentation from the IRS e-Services site if unavailable. Please provide a copy of your EFIN Account Summary from IRS e-Services, with a status of ‘Completed’, to Software B for verification. To send us your EFIN Summary document: 1.

Hawaii 124

Hawaii Alaska Arizona Tax 124

Anders CPA

OCTOBER 31, 2023

The Community Reinvestment Act (CRA) was enacted nearly 50 years ago to help low- and moderate-income (LMI) households access credit and financial services. Banks will need to prepare for these finalized CRA requirements, which will go into effect in stages beginning on April 1, 2024 , and continuing on January 1, 2026 and January 1, 2027.

Retail 103

Retail Finance CPA 103

Going Concern

APRIL 23, 2024

Last week PwC announced it is “aligning its organizational structure across three lines of service— Assurance, Tax and Advisory—to better serve client needs, their buying patterns and the market” and now Wall Street Journal is saying the incoming consulting partner class will be much smaller than last year’s.

public accounting 81

public accounting Education Tax accounting firms 81

Withum

FEBRUARY 20, 2024

Joe Holman , CPA, Principal and Practice Leader of Sustainability and ESG Services Good.Lab helps companies build tailored ESG programs and strategies that align with their sustainability maturity level. Good.Lab is a 1% for the Planet member, as well as a certified B Corporation. For more information, please click here.

CPA 119

CPA audit Government 119

VJM Global

FEBRUARY 6, 2024

Under pre- GST regime as well, taxpayers were available with the option file revised VAT, Central Excise and Service Tax return. However, Goods and Service Tax has not yet provided that facility to revise GST returns to the taxpayers. However, there is no option to amend the incorrect information furnished in GSTR-3B.

tax return 40

tax return income tax Tax Account 40

Withum

JANUARY 8, 2024

E-Commerce Operational Essentials – Part 1 In Part 1 of this interview, Withum Partner and E-Commerce Practice Co-Leader, Lonnie Bloom , and Turbine CEO and Founder, Emilie Schario , discuss Emilie’s background and how she founded Turbine, the three-way match, and the order-to-cash process. Prefer to Listen?

E-commerce 98

E-commerce 98

CPA Practice

MARCH 4, 2024

companies doing business in California with over $1 billion in total annual revenue, not just revenue from California, with no exclusions. This law will require disclosures on Scope 1, 2, and 3, greenhouse gas emissions (GHG). For reporting on Scope 1 and 2, data from FY 2025 will be used to report in 2026.

California 119

California accounting and finance Government Finance 119

Withum

NOVEMBER 16, 2023

Contact Us For more information on this topic, please reach out to our E-Commerce Services Team. In this two part video series, Withum Partner and E-Commerce Practice Co-Leader, Lonnie Bloom , sits down with Nacelle’s Brian Anderson to discuss the latest challenges faced by e-commerce companies.

E-commerce 111

E-commerce Technology 111

CPA Practice

DECEMBER 22, 2023

Taylor, Kiplinger Consumer News Service (TNS) Just in time for the holidays, the IRS has announced a move to help individuals, businesses, and tax-exempt organizations that owe back taxes. The agency will waive nearly $1 billion in penalties for taxes owed by more than 4.7 By Kelley R. Here’s what else you should know. 7, 2023.

Tax 131

Tax tax return Washington Maine 131

CPA Practice

APRIL 22, 2024

It’s an honor to formally recognize those who have gone above and beyond in their service to both our organization and the accounting profession,” says Geoffrey Brown, CAE, ICPAS president and CEO. Yetter, CPA | President and Founder, Yetter Consulting Services Inc. Wolfe, CPA | Owner, Larry J. Wolfe, Ltd. McKeever Jr.

Illinois 115

Illinois CPA Indiana audit 115

Withum

MARCH 2, 2024

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.

Ohio 140

Ohio Non-Profits tax services Tax 140

Going Concern

MARCH 1, 2024

pic.twitter.com/kxeLW2VsAM — Marcum LLP (@MarcumLLP) March 1, 2024 RSM joined in too with an eight second video. Our unique professionals are what makes our firm great—providing exceptional client service and creating a collaborative work culture. Happy #EmployeeAppreciationDay !

public accounting 88

public accounting Account accountant accounted 88

Withum

JANUARY 16, 2024

Extension of 100 Percent Bonus Depreciation: Bonus depreciation was reduced to 80% for qualified property placed into service after December 31, 2022, and to 60% for qualified property placed into service after December 31, 2023. For the 2023 taxable year, a 179 expense of $1.16

Tax 118

Tax Tennessee New Jersey Massachusetts 118

CPA Practice

MARCH 8, 2024

Susana Guerrero SFGate, San Francisco (via TNS) California has a newly appointed Fast Food Council ahead of a state law that will increase the hourly pay for fast food workers to $20 on April 1. The move comes less than a month before fast food workers in the state are expected to get a minimum wage increase to $20 per hour on April 1.

California 98

California 98

Withum

OCTOBER 5, 2023

E-Commerce Unplugged: Insights and Trends With Eric Bellomo of Pitchbook – Part 1 In Part 1 of E-Commerce Unplugged, Withum Partner and E-Commerce Practice Co-Leader, Lonnie Bloom , sits down with Pitchbook’s Eric Bellomo to discuss top-line revenue growth vs. profitability and a potential shift in the industry.

E-commerce 111

E-commerce Technology 111