Withum

JUNE 28, 2024

Withum is proud to announce its 2024 New Partner Class. It’s my privilege to introduce Withum’s 2024 New Partner Class. Ryan Bixenman is the tax team leader of the Special Purpose Acquisition Company Services Team. Kerra Diener is a seasoned business tax expert dedicated to helping clients achieve their financial goals.

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Withum

DECEMBER 18, 2024

2024 Year-End Tax Planning Resources Nows the time to review your year-end tax planning options and strategies for the 2024 tax season. Withums Year-End Tax Planning Resource Center offers tips, legislative updates, and tax-saving opportunities for individuals and businesses.

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Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. 57% of accounting firms plan to increase fees across all services in 2025. We know Big 4 and mid-tiers have this pricing thing down. Or at least half-in.

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CPA Practice

OCTOBER 30, 2024

Aprio , a top 25 business advisory and accounting firm, has released its 2024 End of Year Tax Update , highlighting 2024 tax updates and factors that will significantly impact tax planning for 2025 and beyond. Upon sunset, changes to PTET depend on how each state initially enacted its PTE tax.

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CPA Practice

DECEMBER 10, 2024

CohnReznicks Sun Named a Top 25 Cybersecurity Consultant and Leader CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, recently announced that David Sun , Principal, Cybersecurity, has been named to The Consulting Reports Top 25 Cybersecurity Consultants and Leaders of 2024 list.

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Going Concern

NOVEMBER 7, 2024

The post Top Remote Accountants of the Week | November 7, 2024 appeared first on Going Concern. About the Author: Liz Branch is the COO of Accountingfly. Don’t hesitate to reach out to liz@accountingfly.com.

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ThomsonReuters

MARCH 7, 2024

Starting from tax years beginning after December 31, 2022, the 100% bonus depreciation deduction will gradually decrease by 20% each year until it reaches a complete phase-out by the end of the 2026 calendar year. This means that deductible amounts will be reduced to 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026, and finally 0% in 2027.

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Withum

DECEMBER 4, 2024

Real property trades or businesses can elect out of the provision, but they must use ADS to depreciate nonresidential real property, residential rental property, and qualified improvement property (and ADS generally has longer recovery periods than MACRS). The total section 179 deduction for 2024 is $1,220,000. per square foot (sq.

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ThomsonReuters

MARCH 9, 2023

In this post, we will highlight 3 of our top resources included in our Tax Season Toolkit : Year-End Tax Planning for individuals and businesses, How APIs can help transform your practice, and a Case Study detailing how GoSystem Tax RS and GoFileRoom helped a firm. What’s new? •

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CPA Practice

JANUARY 24, 2024

Choosing Retirement Plans Opening a corporate retirement plan is a great option to lower business taxes. Qualified, profit-sharing plans allow employees to contribute a portion of their wages to individual accounts, while also allowing the employer to make a tax-deductible contribution.

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ThomsonReuters

MARCH 1, 2024

When are S corps taxes due? S corporations are required to file their annual tax return by the 15 th day of the 3rd month after the end of the tax year. For 2024, S corp taxes are due on March 15, 2024. What IRS tax forms do S corps file? The post How are S corporations taxed?

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Nancy McClelland, LLC

APRIL 9, 2024

For one, the immense number of changes to our tax code since the Tax Cuts & Jobs Act (TCJA) took effect in 2018 has made tax planning substantially more complex than it used to be. Or, at the very least, having to pay us at tax-time to fill out the complicated annualization schedule on the tax return.

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ThomsonReuters

FEBRUARY 8, 2024

LLC members are considered self-employed individuals, and self-employed individuals do not have FICA taxes (e.g., Instead, self-employed people pay FICA taxes directly to the IRS—which is known as the self-employment tax. In 2024, the self-employment tax is 15.3%, which includes 12.4% for Social Security and 2.9%

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CPA Practice

NOVEMBER 29, 2023

Whitley Penn Announces New Partners Whitley Penn, a full-service accounting firm with nine locations recently announced that eight individuals will be promoted to Partner effective January 1, 2024. FTI Consulting Announces New Real Estate Business Tax Advisory Leadership FTI Consulting, Inc. The new Partners include: Robert J.

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CPA Practice

JANUARY 16, 2024

Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan. ©2024 CQ-Roll Call, Inc.,

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CPA Practice

MAY 9, 2024

Presumptive Republican nominee Trump has pledged to renew the tax cuts, but hasn’t released a specific tax plan. The expiring portion of the tax cuts also includes reductions in individual tax rates and an expansion of the child tax credit. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

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Withum

OCTOBER 17, 2024

With the Presidential election less than one month away, private and family-owned businesses are in limbo when dealing with 2024 year-end tax planning. However, the individual income tax policies that could increase pass-through owners’ federal income tax by over 30% are still uncertain.

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Cherry Bekaert

SEPTEMBER 11, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) enacted during the Trump administration has numerous provisions set to expire in 2025, making it a hot-button topic both presidential candidates are highlighting in their proposed economic and tax plans. Imposing a baseline tariff on U.S. imports Imposing a 60% tariff on U.S.

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Withum

AUGUST 21, 2024

We discuss the recent shakeup in the Democratic presidential race, the outlook for the Senate and House elections, and the implications for tax policies affecting private and family-owned businesses. Let’s Chat The post New Developments of the Harris Tax Plan appeared first on Withum.

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