TaxConnex

NOVEMBER 3, 2020

percent) from the same period in 2019. percent less than in September 2019. 30 — is more than three times what the state collected in 2019. New York City tax revenues in March and April fell $1.15 billion (3.5 Sales tax accounted for the largest decline, falling $918 million, or 23 percent. billion in September, 6.1

Sales 246

Sales Wisconsin Tax Vermont 246

RogerRossmeisl

NOVEMBER 9, 2022

billion in 2019, or 54.4% To reap the tax benefits on private stock donations, however, it’s essential to obtain a business valuation from a “qualified appraiser.” Tax benefits Since 2007, corporate stock has been the most popular type of non-cash charitable contribution. Corporate stock donations amounted to $39.6

CPA 242

CPA Tax 242

RogerRossmeisl

JANUARY 9, 2021

In response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic, IRS Notice 2021-07 provides temporary relief for employers and employees using the automobile lease valuation rule to determine the value of an employee’s personal use of an employer provided automobile for purposes of income inclusion, employment tax, and reporting.

CPA 246

CPA Tax cpa firm business tax 246

TaxConnex

SEPTEMBER 17, 2020

Online sales tax revenue compared to the same period in 2019 increased $140 million between April and July. In June, the city collected more than $964,000 in sales tax revenue – more than Manhattan collected in June of 2018 or 2019 and the first time since February that the city is seeing more revenue than was budgeted for the year.

Oklahoma 244

Oklahoma Texas Kansas Tennessee 244

RogerRossmeisl

NOVEMBER 13, 2022

From tax years 2010 to 2019, audit rates of individual tax returns decreased for all income levels, according to the GAO. Plus, the IRS recently received additional funding in the Inflation Reduction Act to improve customer service, upgrade technology and increase audits of high-income taxpayers.

audit 238

audit tax return CPA Tax 238

RogerRossmeisl

FEBRUARY 15, 2023

is meant to build on the original SECURE Act, which was signed into law in 2019. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years. SECURE 2.0 Here are some provisions that may affect your business.

CPA 240

CPA business tax Tax 240

RogerRossmeisl

FEBRUARY 5, 2023

is meant to build on the original SECURE Act of 2019, which made major changes to the required minimum distribution (RMD) rules and other retirement provisions. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022. SECURE 2.0

CPA 240

CPA Start-ups Tax 240

TaxConnex

AUGUST 26, 2021

And MasterCard adds that e-commerce made up roughly $1 out of every $5 spent on retail in 2020, up from about $1 out of every $7 spent in 2019. The winter of 2020-21 saw continued growth in package deliveries, up 96% compared to winter 2019-20. Who’s buying, and where? Ecommerce and Economic Nexus. Economic nexus.

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E-commerce Sales Tax Missouri 246

TaxConnex

JUNE 21, 2022

Through 2019, companies began to feel the pinch. Twenty-four states and the District of Columbia had added enforcement of economic nexus in 2019, in addition to the 19 that added the burden to online retailers right after Wayfair. percent compared with the same quarter in 2019. More than 10,000 nationwide, and still counting.).

South Dakota 246

South Dakota E-commerce Alaska Missouri 246

TaxConnex

FEBRUARY 27, 2024

from 2019,” reads a recent Wall Street Journal article on accounting’s latest great resignation. More than 300,000 accountants quit their jobs between 2019 and 2021, data show.” “There were about 1.65 million accountants and auditors in the U.S. in 2022, up 1.3% from the previous year but down 2.6% from 2020 and down 15.9%

Sales 264

Sales Tax Account accountant 264

CPA Practice

OCTOBER 22, 2024

Since 2019, Grant Thornton has teamed up with Workday , a leader in enterprise cloud applications for finance and human resources. Grant Thornton has also enhanced its Workday leadership team with the addition of Andrew (Drew) Houts, who joins the firm with nearly a decade of Workday ecosystem leadership experience.

accounting and finance 119

accounting and finance Healthcare Manufacturing payroll 119

CPA Practice

OCTOBER 14, 2024

See the 2023 Honorees See the 2022 Honorees See the 2021 Honorees See the 2020 Honorees See the 2019 Honorees See the 2018 Honorees See the 2017 Honorees See the 2016 Honorees See the 2015 Honorees See the 2014 Honorees See the 2013 Honorees

Education 128

Education tax preparation public accounting Gaming 128

Going Concern

JULY 17, 2024

Here they’ve compared compensation for equity and non-equity partners, managing partners, and professional staff at non-Big 4 IPA 100 firms for 2023 against 2019. In 2019, it was $620,936. It was $275,318 in 2019. Professional staff compensation (excluding partners) was $104,370, versus $90,149 in 2019. percent.

accountant salary 129

accountant salary accountant accounted Account 129

RogerRossmeisl

NOVEMBER 6, 2020

October 15 was the deadline for individual taxpayers who extended their 2019 tax returns. The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) Now that you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done?

Tax 190

Tax tax return California audit 190

Going Concern

JUNE 6, 2022

To find out, I examined the 2022 comp thread on Reddit , as well as both 2021 ( here and here ), 2020 , and 2019 Deloitte comp threads on Reddit. 7.5% (2019). 16% (2019). 12.3% (2019). 11.8% (2019). 27.5% (2019). 27.5% (2019). N/A (2019). 11% (2019). 9.3% (2019). 17.5% (2019).

audit 126

audit Tax accounted Account 126

CPA Practice

OCTOBER 28, 2024

Scheduled to address the conference in the afternoon, Goodarzi became CEO in 2019, and has since declared Intuit’s strategy to be an AI-driven expert platform with data and artificial intelligence fueling innovation across the company.

quickbooks 104

quickbooks accounting and finance New York Education 104

Accounting Today

SEPTEMBER 20, 2024

2019-48 lays out the new rates for taxpayers who don't want to substantiate their actual expenses.

Tax 133

Tax 133

CPA Practice

SEPTEMBER 23, 2024

Revenue Procedure 2019-48 provides the rules for using per diem rates, rather than actual expenses, to substantiate the amount of expenses for lodging, meals, and incidental expenses for travel away from home. 2019-48 may use the federal per diem rates published annually by the General Services Administration.

Transportation 135

Transportation Tax 135

TaxConnex

JANUARY 7, 2021

“There is substantial risk that without a national framework, multiple states and localities will claim they have authority to tax the same digital transaction,” reads the primer for the “ Digital Goods and Services Tax Fairness Act of 2019 ,” sponsored by Sen. John Thune (R-SD) and Sen.

North Carolina 246

North Carolina Technology Nebraska Alaska 246

TaxConnex

SEPTEMBER 29, 2020

percent over August 2019 – not even counting $9.6 The state’s largest categories of general fund tax revenue, individual and corporate incomes taxes and sales taxes, all rose in August. Sales taxes were up 8.2 million in the month’s taxes on online sales, which go into a different state tax fund.

Sales 246

Sales Tax Alabama Texas 246

CPA Practice

DECEMBER 11, 2024

The factors that affect the distribution requirements for inherited retirement plan accounts and IRAs include: Whether the account owner died after 2019, as the SECURE Act introduced new RMD rules for beneficiaries in these cases.

tax return 85

tax return income tax Tax accountant 85

RogerRossmeisl

NOVEMBER 26, 2023

As reported via IRS Fact Sheet 2019-14 in October 2019 One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and employment tax rules apply. Here are some facts to know when working with a spouse, parent or child.

Tax 130

Tax CPA business tax 130

TaxConnex

JANUARY 11, 2022

Year over year from 2019 to 2020, package deliveries jumped 147% in the spring, 130% in the summer and 101% over the fall and holidays. Shipping is a growing part of doing business. R ecent surveys have shown that package deliveries year-over-year have skyrocketed, fueled in no small part of course by pandemic lockdowns.

Sales 246

Sales Rhode Island South Dakota North Dakota 246

TaxConnex

JUNE 17, 2021

And Colorado raked in $362 million in marijuana taxes in 2020, a 30% jump from 2019. Among the first states to legalize marijuana some seven years ago, Washington collected $614 million in marijuana tax revenue last year. Other states doing well with tax on marijuana include Oregon, Nevada, Massachusetts, Illinois, and Michigan.

Legal 225

Legal Illinois Nevada Oregon 225

Accounting Today

MAY 23, 2024

The private equity giant acquired the accounting software firm in 2019.

accounting software 119

accounting software accounted Account accountant 119

Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022.

tax return 128

tax return corporation tax Tax tax services 128

CPA Practice

NOVEMBER 14, 2023

Considering the circumstances surrounding the coronavirus pandemic, the IRS’s decision to destroy approximately 30 million unprocessed tax year 2019 paper-filed information returns was “reasonable,” the Treasury Inspector General for Tax Administration (TIGTA) concluded in a report released last week.

tax return 119

tax return income tax Tax Transportation 119

RogerRossmeisl

APRIL 25, 2023

For example, if you filed your 2019 tax return by its original due date of April 15, 2020, the IRS has until April. In general, except in cases of fraud or substantial understatement of income, the IRS can only assess tax within three years after the return for that year was filed (or three years after the return was due).

tax return 147

tax return Tax audit CPA 147

TaxConnex

DECEMBER 28, 2023

For five years, states have been whittling their transaction thresholds – Colorado, Iowa, Massachusetts, North Dakota, Washington and California were among the first, in 2019 – sometimes simultaneously raising their dollar-volume thresholds.

Sales 264

Sales South Dakota Tax Louisiana 264

RogerRossmeisl

MAY 20, 2021

In 2019, AB 5 was signed into law with an effective date of 1/1/2020. Under AB 5, most workers are presumed to be employees for purposes of the Labor Code, the Unemployment Insurance Code, and for most wage orders of the Industrial Welfare Commission unless a hiring entity satisfies a three-factor test, referred to as the ABC test.

payroll tax 147

payroll tax California payroll CPA 147

Going Concern

OCTOBER 18, 2024

Beginning at least in 2014 and through at least 2019, Smith promoted and sold tax deductions to his wealthy clients in the form of units in illegal syndicated conservation easement tax shelters organized and created by co-defendants Jack Fisher, James Sinnott and others. Tomasello sold approximately $8.5 million.

audit 104

audit auditor New York accounting and finance 104

Accounting Today

DECEMBER 4, 2023

Kande has been the firm's global advisory leader since 2019 and also currently serves as co-leader of the U.S. Consulting Solutions side, where he has been involved in the firm's artificial intelligence efforts.

accounting firms 126

accounting firms accountant accounted Account 126

TaxConnex

AUGUST 17, 2021

As e-commerce continues to explode – it almost doubled during the pandemic and was already rising sharply nationwide in early 2019 – drop shipment transactions have become even more prevalent. Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others.

South Carolina 246

South Carolina Utah Sales Illinois 246

CPA Practice

NOVEMBER 25, 2024

The SEC said UPS determined in 2019 that UPS Freight would likely sell for $350 million to $650 million. billion value UPS carried the freight unit at on its balance sheet—and as a result UPS did not record a goodwill impairment in 2019. The consultant estimated UPS Freight was worth about $2 billion, higher than the $1.4

accounting principles 52

accounting principles Sales accounted Account 52

Going Concern

APRIL 12, 2024

As described in the PCAOB’s orders, from 2017 to 2019, Deloitte Philippines’s audit partners and other personnel engaged in widespread answer sharing – either by providing answers or using answers – or received answers without reporting such sharing in connection with tests for mandatory firm training courses. Er, cheating.

audit 108

audit auditor Education 108

Going Concern

OCTOBER 17, 2023

Master’s degree completions also fell in 2021–2022 (-6.4%) but the percentage decline is significantly less than in 2019–20. Says the AICPA, bachelor’s degree completions in accounting dropped 7.8% from 2021–2022 after steady decline of 1-3% per year since 2015–16. 65,035 total accounting degrees completed for 2021-22.

accounting degree 124

accounting degree Account accountant accounted 124