CPA Practice

FEBRUARY 23, 2024

million earlier this week for breaking various Public Company Accounting Oversight Board auditing rules. Grant Thornton’s India arm and an Australian audit firm also received penalties from the PCAOB. 21 for “pervasive” quality control violations found in its audits of special-purpose acquisition companies (SPACs) in 2020 and 2021.

audit 68

audit auditor Tax accounting firms 68

inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Many of them may affect the 2021 tax year.

Tax 52

Tax income tax Legal Entertainment 52

Withum

SEPTEMBER 22, 2022

There were two PPP loan programs: (i) First Draw PPP Loans that were issued beginning in April 2020, and (ii) Second Draw PPP Loans that were issued beginning in January 2021. For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Taxation of PPP Loans. Contact Us.

Tax 125

Tax payroll audit tax services 125

Going Concern

NOVEMBER 2, 2022

Compare these numbers to the 2021 AICPA Trends report : total accounting degree completions from 1994-2020 peaked in 2015-16 (79,854) and for 2019-20 which are the years covered in the 2021 Trends report, we had a combined 72,923 bachelor’s and master’s graduates. Demand is especially strong for audit and tax professionals.

accountant 127

accountant accounted Account accounting degree 127

Withum

JUNE 27, 2022

Now that we are halfway through the new year, most companies have wrapped up their books and records for 2021 and sent them to their accounting professionals for tax and audit preparation. Even though internal records are not the same as an audited financial statement, they are still useful resources to third parties.

bookkeeping 123

bookkeeping financial statements accounting and finance audit 123

Going Concern

JULY 31, 2023

Currently KPMG, Deloitte and EY provide both consulting and audit to both the public and private sector. Originally they were just audit firms,” he said. Then the audit firms decided to create this problem by going off and doing their own consulting and the whole thing’s got out of hand.”

auditor 98

auditor Account accountant accounted 98

CPA Practice

SEPTEMBER 17, 2024

During its inspections of public accounting firms’ audits of issuers from 2021 to 2023, the Public Company Accounting Oversight Board (PCAOB) saw a year-over-year increase in the number of comment forms related to auditor independence problems, the audit regulator said in a staff report released on Sept.

auditor 52

auditor audit Technology accounting firms 52

inDinero Tax Tips

NOVEMBER 7, 2023

Net Operating Loss Limitations Record Keeping and Documentation Conclusion Navigating tax advantages like net operating losses can be a headache. InDinero’s business tax services can save you time and money, as our team of professionals will ensure you’re making the most of every tax year. What is a Net Operating Loss?

accrual accounting 105

accrual accounting Tax accounting and finance tax services 105

ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. Filing quarterly employment taxes. Calculating and submitting property taxes, sales tax, and any other applicable taxes based on the business.

Tax 102

Tax tax preparation bookkeeping bookkeeping services 102

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. The states are mailing out notices or letters to question a retailer’s business activities in the state to determine if there is nexus for sales tax purposes. Let’s Talk.

Sales 80

Sales Retail Tax South Dakota 80

Withum

MAY 23, 2022

The ERC is a fully refundable tax credit for employers impacted by the COVID-19 pandemic. Eligible employers can receive a maximum benefit of $26,000 per employee for wages paid to employees in 2020 (up to $5,000) and 2021 (up to $21,000). Taxpayers should expect the same with respect to the IRS and its audits of the ERC.

Government 78

Government audit Start-ups tax services 78

Withum

JANUARY 8, 2024

Until the proposed regulations are published, taxpayers can rely on the excluded product right exception for R&E expenditures paid or incurred in the taxable years beginning after December 31, 2021. However, no audit protection will be provided for Section 174 R&E expenditures that were ignored in the 2022 taxable year.

tax return 78

tax return audit Tax income tax 78

CPA Practice

NOVEMBER 3, 2023

merged with Grassi in 2021, said in a post today on LinkedIn regarding the firm’s changes to its ownership and operating structure, “My objective [for the merger] was to ensure a solid future for our clients, our team, and our partners.

New Jersey 58

New Jersey cpas cpa firm New York 58

CPA Practice

OCTOBER 4, 2023

Pike started working at Howard in 2004 and has served as the firm’s CEO since 2021. Wexler, who helped open Bonadio Group’s first Dallas office in 2018, will refocus his efforts on business development and client service to support continued strategic growth in Texas, the firm said. “We million.

Texas 52

Texas cpa firm CPA New York 52

CPA Practice

MARCH 15, 2023

Audit firms cannot be owned and operated by non-CPAs, therefore firms that accept majority outside investment, or are hoping to attract it in the future, generally must organize their audit/attest practice independently from their tax/advisory/consulting side, allowing for PE investment in the latter.

accounting firms 132

accounting firms Account accountant accounted 132

CPA Practice

NOVEMBER 2, 2023

merged with Grassi in 2021, said in a post today on LinkedIn regarding the firm’s changes to its ownership and operating structure, “My objective [for the merger] was to ensure a solid future for our clients, our team, and our partners.

New Jersey 52

New Jersey cpas cpa firm New York 52

CPA Practice

SEPTEMBER 17, 2024

Her dedication to providing high-quality service in audit and tax work, and her ability to manage complex projects have been invaluable to both our team and our clients. Bassett has 25 years of audit and accounting experience. She is working towards her master’s in accounting.

Construction 52

Construction Illinois audit Real Estate 52

CPA Practice

FEBRUARY 27, 2024

This expanded tax liability has been a potential minefield for businesses of all sizes, especially those with ecommerce activities, requiring constant tracking and application of changing tax rates across thousands of jurisdictions in the U.S. With approximately 85 professional staff in the U.S.,

Technology 52

Technology Tax Sales tax return 52

Withum

OCTOBER 11, 2023

Therefore, taxpayers were forced to rely on the IRS’s application of software development for the IRC §41 research credit as provided in the audit guidelines and regulatory authorities. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

income tax 80

income tax Tax accounting standards accounting and finance 80

inDinero Tax Tips

NOVEMBER 7, 2023

Net Operating Loss Limitations Record Keeping and Documentation Conclusion Navigating tax advantages like net operating losses can be a headache. InDinero’s business tax services can save you time and money, as our team of professionals will ensure you’re making the most of every tax year. What is a Net Operating Loss?

accrual accounting 52

accrual accounting Tax accounting and finance tax services 52

CPA Practice

AUGUST 21, 2023

The 258 members of the class of 2023 is smaller than the 283 PwCers who were promoted last year but larger than the 210 in the class of 2021. The other seven new partners and principals work in business services.

New York 77

New York Washington Kansas audit 77

Steve Feinberg

FEBRUARY 28, 2022

Detailed record keeping is crucial to legally claiming these tax write-offs, and small businesses need a reliable bookkeeping service to take the guesswork out of your deductions. The Standard mileage rate requires you to multiply the miles driven for business during the year by a standard mileage rate, which in 2021, was $0.56

Tax 52

Tax bookkeeping Education bookkeeping services 52

Withum

NOVEMBER 17, 2022

Implementation of proper domicile planning, considering the facts and circumstances, documentation requirements, and other rules when putting in place a plan to mitigate audit risks. State Tax Authorities are aggressively examining taxpayers’ claims that they broke their domicile. 2022 Year-End Tax Planning Resources.

tax planning 52

tax planning Tax income tax New York 52

Going Concern

OCTOBER 21, 2022

KPMG flunks US overseas audit inspections twice as often as rivals [ Financial Times ] US regulators were twice as likely to find flaws in audits conducted by the overseas affiliates of KPMG than those of any other Big Four accounting firm, an analysis of inspection data shows. So this audit went on for three years,” the actor said.

audit 81

audit accounting firms accounting and finance CPA 81

Cherry Bekaert

FEBRUARY 2, 2024

However, for the first time since 2021, the aggregate deal value dipped below the 2019 pre-pandemic high water mark. At 13.5x, 2021 was the peak year for middle-market private company valuations, but today that number is trending closer to the historical average of 11.4x.

accounting and finance 83

accounting and finance California cpa firm CPA 83

Going Concern

JUNE 10, 2022

This latest statement follows a pair of statements issued in October 2021 and December 2021, both of which similarly highlighted auditor independence. Certain tax services do not violate US ban on provision of accounting services in relation to Russia sanctions [ Journal of Accountancy ] A U.S.

auditor 59

auditor accounting and finance audit CPA 59

Going Concern

JUNE 17, 2024

The IRS and the Department of the Treasury today also issued three pieces of guidance focused on partnerships following discoveries by IRS audit teams. Currently, the IRS has tens of billions of dollars of deductions claimed in these transactions under audit. ” Two EY partners, Alison G. Yablonowitz, CPA and Shawn C.

Account 59

Account accountant accounted auditor 59

Going Concern

NOVEMBER 10, 2023

“Financial reporting leaders, but also investors, regulators, and other stakeholders in the capital markets expect AI to drive audit quality. “Considering both the scope and scale of AI’s impact on financial reporting, enhancing audit quality by using technology to stay ahead of emerging risks is expected.”

audit 123

audit accounting and finance auditor Mississippi 123

Going Concern

FEBRUARY 16, 2024

Bill would let private CPAs, not state auditor’s office, audit state agencies [ Radio Iowa ] Senator Mike Bousselot, a Republican from Ankeny, IA seems to think letting CPA firms audit government books instead of the state auditor will fix the accountant shortage somehow? I’m a professional tax preparer.”

Real Estate 106

Real Estate Iowa audit public accounting 106

Going Concern

APRIL 14, 2023

Staffing Drama Signal Mountain Won’t Pay Accounting Firm For Extra Work On Audit [ Chattanoogan.com ] Clients are the worst The Signal Mountain Town Council has declined to pay an auditing firm extra money it said was due because of inadequate help from city employees in preparing the annual city audit.

Tax 106

Tax auditor audit accounting firms 106

Going Concern

JANUARY 19, 2023

Las Vegas tax preparer sentenced to prison for multiple fraud schemes King Isaac Umoren was sentenced to 13 years and three months in prison for filing false tax returns, aggravated identity theft, wire fraud, money laundering and impersonating an FBI agent. He was also ordered to pay nearly $9.7 million in restitution.

Tax 65

Tax tax return Gambling tax preparation 65

Going Concern

DECEMBER 2, 2022

Audit committee disclosures increase, right along with workload [ Journal of Accountancy ]. For the first time in the history of the annual report, more than half (54%) of S&P 500 companies disclosed that their audit committees are responsible for cybersecurity risk oversight. The same thing year after year, you say?

public accounting 98

public accounting audit Account accountant 98

Going Concern

JANUARY 5, 2024

As the accounting industry continues to move away from commoditized audit and tax services to value-based delivery of holistic business solutions, technology is key to enhancing this value through increased efficiencies and heightened support of our role as trusted business advisors. Trump business got at least $7.8

tax return 111

tax return Virginia accounting and finance audit 111