CPA Practice

NOVEMBER 27, 2024

However, in 2025, many CPA firms will be dealing with a challenge that is far from new: attracting skilled talent. Research for the 2025 Salary Guide From Robert Half found that 85% of finance and accounting managers in the U.S. CPA firms that don’t offer work flexibility risk losing out on top candidates.

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cpa firm CPA Technology accounting and finance 111

RogerRossmeisl

MARCH 23, 2025

The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. As we approach the expiration of certain provisions within the Tax Cuts and Jobs Act (TCJA) at the end of 2025, heres what you need to know about the CTC for 2024, 2025 and beyond.

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Tax CPA 143

CPA Practice

FEBRUARY 15, 2025

The CPA Practice Advisor Weekly Tax News Roundup is a weekly recap of tax-related news from the past week. From IRS news and tax court cases, to state, SALT, legislation and other related areas, the roundup can help you catch-up on recent changes. Let us know if you like this new feature using the. Read more »

CPA 110

CPA Tax income tax tax accountant 110

CPA Practice

DECEMBER 5, 2024

Following the November presidential election, CPA business leaders have a much more positive outlook about the U.S. The quarterly survey includes 273 qualified responses from CPAs and Chartered Global Management Accountants (CGMAs) who hold leadership positions, such as CFO or controller, in their companies. projection last quarter.

CPA 119

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RogerRossmeisl

JUNE 24, 2024

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). The post Inflation Enhances the 2025 Amounts for Health Savings Accounts appeared first on Roger Rossmeisl, CPA. Within specified dollar limits, an above-the-line.

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accounted accountant Account CPA 262

RogerRossmeisl

JULY 17, 2024

Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set to expire on December 31, 2025.

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CPA Practice

NOVEMBER 20, 2024

Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

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accounting firms accounted accountant Account 116

Withum

JANUARY 20, 2025

Employment taxes are always scrutinized by the IRS and state taxing authorities, particularly in the healthcare industry. The 2024 Form 1099-MISC is also due to recipients by January 31, 2025; however, Forms 1099-MISC are due to the IRS by February 28, 2025, for paper filing or by March 31, 2025, for electronic filing.

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Healthcare Tax accounts payable audit 78

CPA Practice

NOVEMBER 18, 2024

For the first time since 2020, interest rates for tax overpayments and underpayments will be lower than the previous quarter, starting in January. Here is the full list of new interest rates for Q1 of 2025: 7% for overpayments (payments made in excess of the amount owed), 6% for corporations. 9% for large corporate underpayments.

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Tax 116

Going Concern

JANUARY 3, 2025

Psst, take our 2025 Predictions for the Accounting Profession survey. He says 2024 was all about proving what AI brings to the tableand expects 2025 will shift more into scaling it. The San Francisco-based HR tech company Employer.com focuses on payroll and onboarding, in contrast to Bench, which specializes in accounting and tax.

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auditor audit Rhode Island cpa firm 98

RogerRossmeisl

FEBRUARY 23, 2025

Global merger and acquisition (M&A) volume is expected to surpass $4 trillion in 2025, the highest in four years, according to Reuters. Reasons for the anticipated surge include recent interest rate cuts by the Federal Reserve and GOP promises of fewer regulations and lower taxes for U.S. businesses and their owners.

CPA 161

CPA Sales Tax 161

RogerRossmeisl

JULY 21, 2024

The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. But since many estates won’t currently be subject to estate tax, it’s a good time to devote more planning to income tax saving for your heirs.

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income tax Tax CPA 235

CPA Practice

NOVEMBER 10, 2024

As healthcare enrollment and renewal season continues, the Internal Revenue Service is reminding taxpayers that if they use flexible spending accounts (FSAs), they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. If the plan allows, the employer may also contribute to an employee’s FSA.

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Healthcare income tax payroll Tax 116

Nancy McClelland, LLC

APRIL 5, 2025

I recently joined Gary DeHart of Insightful Accountant to discuss exactly that question, and to walk through my picks for the Top 10 Accounting Conferences of 2025. Whats the point? Why I Attend Accounting Conferences Back in 2016 I wrote a blog post about my takeaways from the first Scaling New Heights conference I attended.

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accounted accountant Account bookkeeping 97

RogerRossmeisl

AUGUST 28, 2022

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. Here are some examples.

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Tax income tax CPA business tax 246

RogerRossmeisl

MARCH 25, 2021

Here are some tax rules and considerations involved in operating with that entity. For tax years through 2025, the deduction can be up to 20% of a pass-through entity owner’s QBI. You can take the deduction even if you don’t itemize deductions on your tax return and instead claim the standard deduction.

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Tax tax return CPA Start-ups 246

RogerRossmeisl

JULY 16, 2022

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs.

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income tax tax planning Tax CPA 246

RogerRossmeisl

JUNE 19, 2023

If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may contend with when you retire: Taking required minimum distributions. Are you getting ready to retire? You can withdraw more than.

Tax 246

Tax CPA accounted Account 246

Nancy McClelland, LLC

DECEMBER 24, 2024

Specifically: * Companies created or registered prior to January 1, 2024 have until January 13, 2025 to file. Companies created or registered on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23, 2024 have until January 13, 2025 to file. What are my options?

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Education tax planning CPA Tax 98

RogerRossmeisl

SEPTEMBER 9, 2024

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. Do you expect to be in a higher tax bracket next year? Here are some other ideas that may help you save tax dollars if you. If so, then opposite strategies may produce better results.

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RogerRossmeisl

SEPTEMBER 6, 2021

Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But there are now restrictions that make these casualty loss tax deductions harder to take. What’s considered a casualty for tax purposes?

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Tax tax return CPA 231

Withum

FEBRUARY 19, 2025

Rev up for the Winter 2025 issue of Dealer Vision ! Read Full Article Tax Planning Strategies for Car Dealerships: Cost Segregation Authored by: Martin Harski , Principal Owning a car dealership can present a golden opportunity to reduce your tax liabilities.

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CPA tax planning Tax accounting firms 71

CPA Practice

NOVEMBER 22, 2024

The Tax Blotter is a selection of briefs on the latest tax legislation and Tax Court rulings. The IRS has announced its annual inflation adjustments for qualified retirement plans and IRAs for 2025 in conjunction with recent tax law changes. The deferrals grow and compound without any current tax.

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Tax 111

RogerRossmeisl

FEBRUARY 18, 2024

If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Be aware that this deduction is only available through 2025, unless Congress acts to extend it. The post 9 Tax Considerations if you’re Starting a Business as a Sole Proprietor appeared first on Roger Rossmeisl, CPA.

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Tax CPA business tax 231

CPA Practice

OCTOBER 23, 2024

With the 2025 income tax filing season coming soon, the IRS is encouraging all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). IP PIN users should share their number only with the IRS and their tax preparation provider.

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Nancy McClelland, LLC

JANUARY 9, 2025

Velocity 2025 – Virtual Annual Planning Retreat by Justine Lackey Date: Tuesday, January 10th Time: 12:30-4 pm EST Whats the disconnect between dreaming big and actually making it happen? Equipping you with the tools to take off like a rocket in 2025. You need a clearly articulated vision. Building your roadmap to success.

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Education accounted accountant Account 52

RogerRossmeisl

JULY 30, 2021

Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. Note that under the Tax Cuts and Jobs Act (TCJA) , employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns. appeared first on Roger Rossmeisl, CPA.

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tax return Transportation CPA Tax 246

RogerRossmeisl

JANUARY 14, 2024

Entities in existence prior to January 1, 2024, have until January 1, 2025, to file these reports. Penalties are steep This is part of the federal government’s anti-money laundering and anti-tax evasion efforts and is an attempt to look beyond shell companies that are set up to hide money.

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CPA Start-ups Government Tax 262

RogerRossmeisl

JULY 16, 2023

Under tax law, in order to claim deductions, you must meet certain requirements for out-of-town business travel within the United States. Note: Under the Tax Cuts and Jobs Act, employees can’t deduct their unreimbursed travel expenses on their own tax returns through 2025. The post Traveling for Business This Summer?

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tax return CPA Tax business tax 242

Going Concern

JANUARY 22, 2025

A federal indictment unsealed today charges Jason Alexander Jerkins, 36, of Franklin, Tennessee, with wire fraud, money laundering and tax fraud, announced Acting United States Attorney for the Middle District of Tennessee Robert E. JBS had office locations in Fairview and Nashville, Tennessee. It is currently active until 2026.

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Tennessee CPA bookkeeping payroll 59

CPA Practice

OCTOBER 22, 2024

22 released updated tax brackets and standard deductions for 2025. While the actual percentages of the tax brackets will remain the same until next year because of the Tax Cuts and Jobs Act of 2017, the income levels of each bracket change annually to adjust to inflation. The IRS on Oct.

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Tax tax return Transportation income tax 124

CPA Practice

SEPTEMBER 11, 2024

Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% Bloomberg Tax’s annual Projected U.S. Act that affect tax planning for corporate taxpayers in certain industries. increase in 2023.

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Tax income tax corporation tax tax planning 128

RogerRossmeisl

FEBRUARY 28, 2022

Back in 2017, the Tax Cuts and Jobs Act was signed into law which instituted a cap on the amount of state and local taxes (SALT) that individuals could report as Itemized Deductions on Schedule A. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000. Previously, there was no limit.

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California CPA Tax Start-ups 246

CPA Practice

MARCH 18, 2025

The tax priorities letter focuses on a select number of provisions that the AICPA is immediately focused on due to their possible consideration as part of the upcoming 2025 tax legislative process.

Tax 113

Tax 113

RogerRossmeisl

JULY 17, 2022

It’s not just businesses that can deduct vehicle-related expenses on their tax returns. For 2018 through 2025, business and moving miles are deductible only in much more limited circumstances. For 2018 through 2025, business and moving miles are deductible only in much more limited circumstances.

tax return 246

tax return CPA Tax 246

RogerRossmeisl

OCTOBER 17, 2020

Are they tax deductible? Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. The post Deductibility of Portfolio Management and Related Expenses appeared first on Roger Rossmeisl, CPA.

CPA 246

CPA Tax 246

RogerRossmeisl

NOVEMBER 9, 2023

Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. What’s considered a casualty for tax purposes? Note: The post Casualty Loss Tax Deductions May Help Disaster Victims in Certain Cases appeared first on Roger Rossmeisl, CPA.

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Tax tax return CPA 187