Withum

OCTOBER 3, 2024

The tax relief postpones certain tax filing and payment deadlines that started as early as September 22, 2024, to May 1, 2025. May 1, 2025 2024 Form 1065 March 15, 2025 *Postponement date would allow a proper extension until October 30, 2025. What does the filing and payment relief apply to?

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

CPA Practice

FEBRUARY 28, 2024

A group of Mississippi tax return preparers were sentenced to prison on February 22, 2024, for charges related to a conspiracy to prepare and file false tax returns for clients in Jackson, Mississippi. Earnest and Randell were also convicted of preparing such returns. million in tax loss to the IRS.

Mississippi 52

Mississippi tax return tax preparation Tax 52

Withum

SEPTEMBER 1, 2023

The tax relief postpones various tax filing and payment deadlines that occur from August 27, 2023, through February 15, 2024 – the postponement period. Affected individuals and businesses therefore will have until February 15, 2024 to file tax returns and to pay any taxes that were originally due during the postponement period.

Tax 98

Tax tax return Florida payroll 98

Withum

JANUARY 24, 2023

The penalty can be reduced to 10% for IRA owners who take the RMD within a specified time period and submit a corrected tax return. Employer-sponsored Roth retirement plans (Roth 401(k) plans) will be exempt from the RMD requirements starting January 1, 2024. Contact Us If you have questions about the SECURE Act 2.0

Start-ups 26

Start-ups tax return Tax Education 26

Withum

JANUARY 31, 2024

Affected taxpayers qualifying for this tax relief include individuals and householders who reside or have a business in Providence County. The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments.

Rhode Island 72

Rhode Island income tax tax return Tax 72

Withum

FEBRUARY 21, 2024

The new beneficial ownership reporting under the Corporate Transparency Act was signed into law on January 1, 2021 and took effect on January 1, 2024. Beneficial ownership information (BOI) must be reported for the reporting entity’s beneficial owners and for entities formed or registered in 2024 or later – company applicants.

income tax 125

income tax tax return Tax accounting and finance 125

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.

public accounting 52

public accounting Real Estate Ohio California 52

Going Concern

JUNE 13, 2024

The post Top Remote Accountants of the Week | June 13, 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.

Real Estate 59

Real Estate Account accountant accounted 59

Withum

JANUARY 8, 2024

Based on the interim definition, governmental contract research facilities were required to capitalize their contract R&E expenditures, generate taxable income, and make required federal cash tax payments. This article was originally published by Lynn Mucenski Keck in Forbes on January 2, 2024.

tax return 78

tax return audit Tax income tax 78

Anders CPA

NOVEMBER 21, 2023

Pass-through entities like a sole proprietorship, partnership or S-corp, won’t see the benefits as any charitable donation made by those businesses will pass through to your personal tax return. The first-year deduction for bonus depreciation drops to 60% for 2024, down from 80% in 2023.

tax planning 64

tax planning Tax financial statements tax return 64

Going Concern

OCTOBER 24, 2024

The post Top Remote Accountants of the Week | October 24, 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.

Real Estate 59

Real Estate Account accountant accounted 59

Going Concern

OCTOBER 31, 2024

The post Top Remote Accountants of the Week | October 31, 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.

Real Estate 59

Real Estate Account accountant accounted 59

Going Concern

MAY 16, 2024

Our recruiting services are exclusively available for clients and candidates in the United States. The post Top Remote Accountants of the Week | May 16, 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.

Real Estate 59

Real Estate Account accountant accounted 59

CPA Practice

SEPTEMBER 17, 2024

Nathan Wechsler & Company Announces Key Promotions in Concord Office Concord, NH – August 29, 2024 – Nathan Wechsler & Company recently announced several key promotions within the Concord office, recognizing the outstanding performance and dedication of Kaitlin Morin, Brianna Sawyer, James Shokal, and Nathan Bulluck.

Construction 52

Construction Illinois audit Real Estate 52

inDinero Tax Tips

OCTOBER 22, 2024

You can also elect to be taxed as an S-corp or C-corp. Talk to a business tax services specialist before making this decision, but in short, S-corps can be advantageous because their structure can minimize self-employment taxes while C-corps can attract investment by allowing you to sell stock.

Nevada 105

Nevada Tax income tax payroll tax 105

Withum

OCTOBER 9, 2023

Also, the legislation closed a loophole for individuals subject to the millionaire’s tax, which imposed a 4% surtax for income over $1M. As the millionaire’s surtax is imposed per tax return, a married couple could file separately to either reduce or eliminate the 4% surtax.

Massachusetts 72

Massachusetts Sales Tax tax return 72

Withum

AUGUST 16, 2024

The IRS announced on August 15, 2024, the establishment of a second voluntary disclosure program (VDP) relating to erroneous ERC claims. See Announcement 2024-30. The IRS released the original VDP in December 2023, which expired on March 22, 2024. See Announcement 2024-3. The participant must sign a closing agreement.

income tax 64

income tax tax return Tax tax services 64

Withum

DECEMBER 4, 2024

Any asset with a class life of less than 15-years can still be depreciated using MACRS and take advantage of bonus depreciation (60% in 2024 and 40% in 2025). Expansion of small businesses that are able to use the cash (as opposed to accrual) method of tax accounting. The total section 179 deduction for 2024 is $1,220,000.

Tax 59

Tax income tax Construction Non-Profits 59

CPA Practice

NOVEMBER 13, 2023

In August 2022, the American Institute of CPAs (AICPA) released proposed revisions to the Statements on Standards for Tax Services (SSTSs) for public comment. The AICPA’s Tax Executive Committee (TEC) reviewed and adopted the updates to the SSTSs on May 18, 2023; the updated standards will be effective on January 1, 2024.

Tax 59

Tax tax services tax return cpas 59

Withum

NOVEMBER 21, 2024

The IRS released new Form 15620 to simplify and standardize elections under section 83(b) on November 7, 2024. To make the election, employees need to complete and sign Form 15620 and mail it to the IRS office where they file their federal income tax returns. While this new form does not change any of the requirements from Rev.

income tax 59

income tax tax return Tax tax services 59

Cherry Bekaert

OCTOBER 28, 2024

State-specific Summaries : Each state has its specific relief measures, summarized by the IRS in announcements GA-2024-08, SC-2024-08, NC-2024-08, AL-2024-05, TN-2024-01 and FL-2024-08. More details can be found on the IRS website. A summary of disaster relief from the IRS by state can be accessed here.

South Carolina 52

South Carolina North Carolina Tax Alabama 52

CPA Practice

MARCH 6, 2024

Lettuce has launched its new solution for accounting and tax services for solopreneurs, with $6 million in seed funding led by Zeev Ventures to fuel growth and product development, and its Solopreneur Accelerator program. To participate, register by March 31 at [link].

tax return 52

tax return Healthcare Tax tax services 52

Withum

DECEMBER 4, 2024

Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2024 that are phased out over varying levels of adjusted gross income (AGI). If you hold long-term, appreciated capital assets, and are in the 0% rate bracket, consider selling enough long-term assets to maximize the 0% rate in 2024.

tax planning 52

tax planning Tax income tax tax return 52

Withum

AUGUST 7, 2023

If a taxpayer purchases a new clean vehicle, the maximum federal income tax credit for personal clean vehicle energy purchases is $7,500 once provided the critical mineral and battery component requirements are met. For the 2023 taxable year, the new clean vehicle credit can only be claimed when filing an individual tax return.

income tax 52

income tax New Jersey Manufacturing Sports 52

Accounting Insight

APRIL 21, 2023

Furthermore, technology brings about efficiency, and it’s inevitable that tax will eventually shift to a digital default. As for the tax process, technology will simplify and expedite the filing of tax returns for taxpayers and the processing of such returns for tax authorities.

Account 59

Account accountant accounted Technology 59

xendoo

JANUARY 16, 2023

The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate. Shareholders still must file their personal income tax returns and report the corporate dividends and capital gains they get as part of their taxable income.

business tax 52

business tax Tax income tax payroll tax 52

CPA Practice

JANUARY 19, 2024

Accounting Thought Leaders Say CAS Will Become a Must for Firms in 2024 As technology continues to dramatically shape the accounting profession, the latest big conversations have been around AI and automation. Pricing CAS Services 4. Final Thoughts and Predictions for 2024 The concept is CAS (Client Accounting Services).

accounting firms 78

accounting firms Account accountant accounted 78

xendoo

JANUARY 26, 2023

The Internal Revenue Service (IRS) can send you a bill for penalties and additional fees. However, we understand that tax filing requirements and rules change each year. It’s hard to keep up without your own accountant or business tax services. When you run a business, it’s easy to fall behind on your books and taxes.

Tax 52

Tax tax return Non-Profits Legal 52

Withum

AUGUST 7, 2023

The applicable percentages are based on the year of construction and are as follows: In the case of construction that begins before January 1, 2023, 10 percent; In the case of construction that begins after December 31, 2022, and before January 1, 2024, 12.5 How Do I Claim a Qualified Charging Station Federal Income Tax Credit?

income tax 52

income tax Construction Non-Profits Transportation 52

Withum

AUGUST 24, 2023

The applicable percentages are based on the year of construction and are as follows:   In the case of construction that begins before January 1, 2023, 10 percent;   In the case of construction that begins after December 31, 2022, and before January 1, 2024, 12.5 How Do I Claim a Federal Energy Project Income Tax Credit?

Tax 52

Tax Construction income tax Non-Profits 52

Going Concern

NOVEMBER 10, 2023

Tight Job Market in Finance/Accounting, Professionals Settle In After Years of High Turnover: Addison Group [ Staffing Industry Analysis ] Employers looking at hiring finance/accounting professional face a tight job market, according to the 2024 Workforce Planning Guide released by Addison Group.

audit 122

audit accounting and finance auditor Mississippi 122

Withum

MARCH 12, 2024

There are some limited end runs around section 280E, and it is not clear if the company received its tax refunds because it did not fully utilize those strategies in prior years and simply amended its tax returns to take advantage of them now. This article was originally published by Daniel Mayo in Forbes on March 4, 2024.

Tax 119

Tax tax return Legal Manufacturing 119

Withum

JULY 26, 2023

Any adjustment needed for a 2022 federal income tax return already filed which included the capitalization of research and experimental expenditures can either be amended or, at the taxpayer’s election, be treated as an automatic change in the method of accounting in the 2023 taxable year. trillion in 2033.

Tax 52

Tax income tax Manufacturing accounting and finance 52

Going Concern

FEBRUARY 16, 2024

Apparently the local news has had this amateur CPA on their radar since at least 2020: Krystal clear – customer says shady businesswoman an “expert at frauding people” [ FOX 2 Detroit ] Krystal friended Chrissy on Facebook and said her company “Card Virtual Tax Service” could get her a big refund and take a percentage.

Real Estate 105

Real Estate Iowa audit public accounting 105

Withum

AUGUST 17, 2022

Depending on the auto dealership that is chosen, an individual may not have to wait until the filing of their income tax return to benefit from the credit. Most dealers will need to rely on the prior year’s tax return filings to ensure the credit is allowable and therefore can be properly claimed by the dealership.

Tax 124

Tax income tax Manufacturing tax return 124

Withum

AUGUST 17, 2022

Depending on the auto dealership that is chosen, an individual may not have to wait until the filing of their income tax return to benefit from the credit. Most dealers will need to rely on the prior year’s tax return filings to ensure the credit is allowable and therefore can be properly claimed by the dealership.

Tax 52

Tax income tax Manufacturing tax return 52

Going Concern

JANUARY 5, 2024

And take our 2024 Predictions for the Accounting Profession survey ! Imagine the dirty looks PwC partners get from the other Big 4 partners at the country club now [link] — Going Concern (@going_concern) January 4, 2024 Office Space Armada Hoffler Finalizes Lease with KPMG LLP at Town Center of Virginia Beach [ Yahoo!

tax return 111

tax return Virginia accounting and finance audit 111