RogerRossmeisl

MARCH 25, 2021

The SECURE Act, which was signed into law in late 2019, made a number of changes of interest to those nearing retirement. If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible.

CPA 241

CPA Account accounted accountant 241

RogerRossmeisl

NOVEMBER 1, 2020

In fiscal year 2019, the IRS audited approximately 0.4% IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. Here’s how to survive an IRS audit. of individuals.

audit 240

audit tax return CPA Tax 240

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.

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Oklahoma Texas Kansas Tennessee 244

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

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.

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CPA Tax cpa firm business tax 236

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 210

CPA Tax 210

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 203

CPA business tax Tax 203

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

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CPA Start-ups Tax 203

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 198

audit tax return CPA Tax 198

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 Account accountant accounted 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?

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Tax tax return California audit 189

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 Account accounted 126

Accounting Today

SEPTEMBER 20, 2024

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

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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.

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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.

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Sales Tax Alabama Texas 246

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.

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South Dakota Sales Tax Louisiana 264

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.

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Sales Rhode Island South Dakota North Dakota 246

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.

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Tax CPA business tax 130

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.

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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 Account accountant accounted 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.

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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

Accounting Today

FEBRUARY 28, 2024

The 83 publicly disclosed accounting and auditing enforcement actions represented the highest number of actions initiated since FY 2019.

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audit Account accountant accounted 116

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.

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South Carolina Utah Sales Illinois 246

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 Account accountant accounted 126

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

TaxConnex

MARCH 21, 2024

In September 2019, the South Carolina ALC found in favor of the state, though during those deliberations South Carolina did clarify sales tax obligations for marketplace facilitators. “We

South Carolina 264

South Carolina Sales Tax Alabama 264

TaxConnex

SEPTEMBER 22, 2020

in 2019 (even as average monthly bills for consumers actually dropped). To see the original post, click here. Taxes are an integral part of the telecom world. Taxes, fees and government surcharges on telecommunications services increased from 19.1%

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Tax California auditor Sales 246

TaxConnex

NOVEMBER 23, 2021

Other reports show that eCommerce made up roughly $1 out of every $5 spent on retail in 2020, up from about $1 out of every $7 spent in 2019. In fact - Cross-border eCommerce sales worldwide grew more than 20% in 2020 while U.S. eCommerce grew by more than 40%. By 2040, an estimated 95% of all purchases will be through eCommerce.

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Sales Tax tax return Retail 246

TaxConnex

MARCH 10, 2022

Before the end of 2019, 43 of the 45 states (including D.C.) States soon realized they had a chance to take in potentially billions of dollars in annual revenue and quickly joined South Dakota in mandating that remote sellers collect and remit sales tax. that had a state-wide sales tax had enacted economic nexus.

South Dakota 262

South Dakota Sales Tax Maryland 262

CPA Practice

OCTOBER 16, 2023

The new estimate reflects a rise of more than $192 billion from the prior estimates for tax years 2014 to 2016 and an increase of $138 billion from the revised projections for tax years 2017 to 2019. 542 billion in tax year 2021, up from $445 billion in tax years 2017 to 2019. trillion in taxes, penalties, interest, and user fees.

Tax 116

Tax audit Government Account 116

CPA Practice

SEPTEMBER 26, 2023

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 116

Transportation Tax 116

Going Concern

DECEMBER 29, 2022

2019: 10.3%. The good news is since that 20% deficiency rate in 2017, Deloitte has cut down on its auditing errors so much that even with PwC’s historically low 1.9% error rate in its 2020 inspection report and its 3.6% 2018: 11.5%. 2020: 3.8%. 2020: 1.9%. 2021: 3.6%. Average: 9.6%. Average: 15.1%. So that part should make Joe U.,

audit 135

audit financial statements Account accounted 135