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 new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices.

auditor 98

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CPA Practice

MARCH 8, 2023

The new corporate AMT applies a 15 percent tax to a company’s  adjusted financial statement income  (AFSI). AFSI is a company’s net income or loss reported on its applicable financial statements (AFS), such as a Form 10-K filed with the SEC, including tax and accounting adjustments.

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Cherry Bekaert

FEBRUARY 12, 2024

The effective date of this reporting standard varies, with public business entities needing compliance for annual periods commencing after December 15, 2024, while other entities have until annual periods starting after December 15, 2025. Early adoption is permissible for unaudited annual financial statements.

income tax 105

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Going Concern

SEPTEMBER 27, 2024

Four sanctioned firms failed to make certain required communications with audit committees, as required by AS 1301, Communications with Audit Committees, and/or Rule 3524, Audit Committee Pre-approval of Certain Tax Services. The firms are the following: Accell Audit & Compliance, P.A.

audit 105

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Cherry Bekaert

FEBRUARY 12, 2024

For entities other than public business entities, the guidance is effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance.

income tax 97

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Withum

JANUARY 25, 2023

Therefore, the TCJA includes various sunset provisions or set expiration dates for many of the individual income tax legislation benefits. Some will try to argue that these changes merely result in timing differences, which generally do not impact tax financial statement disclosures. appeared first on Withum.

Tax 81

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Withum

NOVEMBER 17, 2022

Contact a member of Withum’s Tax Services Team to start planning as year-end approaches. Year-End Tax Planning for Businesses. The corporate tax rate is currently a flat 21% rate. For-profit businesses can elect for this credit to be refundable over a five-year period, even when no federal tax liability exists (i.e.,

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