CPA Practice

MARCH 11, 2025

In addition, two in three people describe tax preparation companies that advertise free tax filing services as "bait-and-switch" schemes, according to WalletHub's 2025 Tax Survey.

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SkagitCountyTaxServices

SEPTEMBER 19, 2024

Here’s how you know (as quoted directly from the BOI reporting FAQ page ): “A reporting company created or registered to do business before January 1, 2024, will have until January 1, 2025, to file its initial BOI report.” Estimated taxes are quarterly payments made throughout the year to prepay your annual income tax liability.

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CPA Practice

AUGUST 11, 2023

The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. The multi-millions came from filings of over 1,000 false tax forms claiming the pandemic-related employee retention credit, also referred to as the ERTC or ERC. Treasury Department.

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CPA Practice

MAY 30, 2024

The IRS has offered free tax-filing services to lower-income household for years, and limited free services are also available from such companies as H&R Block and Intuit that make tax-preparation software. Officials estimated that 5.2 According to the IRS, only 33,328 did. Werfel said the pilot cost $31.8

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Withum

MARCH 20, 2024

For the latest news and updates on Montana state and local tax March 20, 2024 Montana Releases Pass-Through Entity Tax Common Issues to Avoid Authored by: Jessie Racioppi and Penny Sweeting , CPA The Montana Department of Revenue released “Common Errors to Avoid when Filing Form PTE – Tax News You Can Use.” 03/18/2021.)

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Montana Tax income tax tax return 52

Steve Feinberg

MARCH 28, 2022

What is the New Hampshire Personal Net Income Tax Rate? There is currently no Personal Net Income Tax Rate. However, businesses must pay a 5% tax on all interest and dividend income. Check with your accountant if this tax will impact your business. . Is There a Sales Tax in New Hampshire?

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ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

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South Dakota Rhode Island New Hampshire Wyoming 52

Nancy McClelland, LLC

APRIL 16, 2023

To that end, when you do share something with your tax preparer, I beg you to phrase it in respectful language that recognizes they are experts in their field. It’s available through 2025 and the IRS has an FAQ on it that’s chock-full of details. See here for my guide to finding a qualified tax preparer in your area.)

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Cherry Bekaert

NOVEMBER 28, 2023

Other states allow the pass-through entity owners to reduce their state taxable income by the amount of income previously reported and taxed by the pass-through entity. Looking forward, companies should begin to plan for the sunset of many tax provisions in the Tax Cuts and Jobs Act (TCJA).

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Accounting Today

MARCH 4, 2025

Replacing corporate income tax; multigenerational challenge; new blog on the block; and other highlights from our favorite tax bloggers.

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Withum

OCTOBER 18, 2023

The House Ways and Means Committee has introduced a year-end tax bill that would preserve 100% bonus depreciation until the end of 2025. The Qualified Business Income (“QBI”) Deduction Sunsets The QBI is a 20% “off the top” deduction on the income of qualifying businesses and lowers the effective tax rate on this income.

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ThomsonReuters

SEPTEMBER 7, 2023

Jump to: Child and dependent care credit FAQs What is kiddie tax? What is the adoption tax credit? Claiming children on taxes Choosing the best tax preparation software As all working parents know, the cost of child and dependent care can be a significant financial burden. If the child’s unearned income (i.e.,

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Tax income tax tax preparation tax return 52

LyfeAccounting

JUNE 7, 2021

Did you know that some countries have zero income taxes? If you use places like Dubai, Monaco, or the Bahamas as your primary residence then you don’t have to pay any taxes. Well, there are other states that give you great tax benefits as well. So how do you get passive income? Not into changing your citizenship?

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CPA Practice

JUNE 20, 2024

As an example, ChatGPT5 is currently scheduled for a 2025 release. The Large Language Models are 1) running out of data to train on, and 2) new models are taking longer to build, even with much faster hardware. We are anxious to see new AI desktops and laptops, such as the Microsoft Surface Copilot+PC , dominate the market this year.

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xendoo

FEBRUARY 13, 2023

The corporation uses Form 1120 to report income and claim credits and deductions each year. A pass-through entity doesn’t file taxes as a separate entity. Instead, the income “passes through” to the owner of the business who pays personal income taxes on their share of the business.

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Tax income tax Non-Profits Legal 59

CPA Practice

JANUARY 17, 2025

If you move quickly now, there is still much you can do to make sure your team has the resources and mindset to tackle this intense work period with gusto and help your CPA firm deliver high-quality service to clients.

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ThomsonReuters

OCTOBER 12, 2023

Jump to: What is foreign income? How to report foreign income What is Form 1099-DIV? Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. citizens living abroad or earning income from foreign sources, questions often arise on how the U.S.

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Tax tax return income tax Real Estate 40

inDinero Tax Tips

JANUARY 16, 2024

For sole proprietors and certain single-member LLC’s, fill out IRS Form 4868 Corporations, partnerships, and multimember LLC’s should use IRS Form 7004 When are Taxes Due for Quarterly payments in 2024? Estimated tax payments are to be made quarterly; they can be submitted online or posted in the mail with Form 1120-W.

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Tax tax return payroll tax Delaware 52

CPA Practice

JULY 24, 2024

3, 2025, to file various federal individual and business tax returns and make tax payments. The tax relief postpones various tax filing and payment deadlines that occurred from July 5, 2024, through Feb. 3, 2025, to file returns and pay any taxes that were originally due during this postponement period.

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Tax tax return Texas income tax 52

CPA Practice

JUNE 21, 2023

Biden agreed to reallocate $10 billion of the IRS’s funding in 2024 and another $10 billion in 2025 to other spending priorities. The IRS hasn’t made a ton of progress in reducing its paper accounts management inventories over the past year. The inventory is just 6% lower than at the same time last year. billion more was cut.

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tax return Tax account management accounting manager 64

Withum

JANUARY 13, 2025

The fires, which began on January 7, 2025, have led to the destruction of homes, businesses, and infrastructure, prompting widespread evacuations and emergency responses. In response to this devastation, the Internal Revenue Service (IRS) announced tax relief for affected individuals and businesses on January 10, 2025.

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tax return California payroll income tax 122

CPA Practice

NOVEMBER 24, 2024

This is part of the IRS’s “Get Ready” campaign to help everyone prepare for the upcoming filing season in early 2025. Our focus at the IRS continues to be on making tax filing easier and more accessible for everyone,” said IRS Commissioner Danny Werfel. These are designed to help taxpayers and make tax filing easier.

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CPA Practice

OCTOBER 11, 2024

Because of hurricanes Debby, Helene, and, most recently, Milton, all taxpayers in Florida now have until May 2025 to file individual and business tax returns and make tax payments, the IRS announced on Friday. 10—individuals and businesses in 51 counties will receive disaster tax relief. 5 and concludes on May 1, 2025.

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Florida Tax tax return payroll 137

Nancy McClelland, LLC

JANUARY 11, 2025

Road sign announcing that tax season is ahead Big news! The IRS announced yesterday that tax season for 2024 returns will officially begin on January 27, 2025. Filing an extension will take you to September, 16, 2025. And finally, the tax code is a horrifying morass of byzantine complexity.

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Going Concern

FEBRUARY 3, 2025

A hasty decision in choosing a fake tax preparer can lead to stolen information, an incomplete tax return and a bigger headache than if youd simply done your taxes yourself, Cafferelli said. Anyone still looking for a preparer in February is making a hasty decision.

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Withum

FEBRUARY 6, 2025

The California wildfires that broke out on January 7, 2025, have caused tremendous devastation to individuals and businesses alike. On January 8, 2025, President Biden declared the California wildfires a major disaster as of January 7, 2025.

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California Tax tax return payroll 117

Cherry Bekaert

OCTOBER 3, 2024

The looming expiration of the 2017 Tax Cuts and Jobs Act (TCJA) enacted during the Trump administration has become an important issue in the presidential campaign. Scheduled to sunset in 2025, the TCJA implemented significant changes to the tax code, including the reduction of personal income taxes and a simplified tax filing process.

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CPA Practice

FEBRUARY 15, 2025

Tax season has just begun, but it may be about to get more difficult for taxpayers and tax preparers such as CPAs and accountants. The move could also delay income tax refunds. The IRS started accepting income tax returns on January 27, 2025, which means tax filing season is officially upon.

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income tax Tax tax preparation tax return 94

CPA Practice

FEBRUARY 15, 2025

Tax season has just begun, but it may be about to get more difficult for taxpayers and tax preparers such as CPAs and accountants. The move could also delay income tax refunds. According the Associated Press, up to 15,000 workers at the Internal Revenue Service could be fired from their jobs in the next week.

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income tax Tax tax preparation cpas 132