CPA Practice

AUGUST 28, 2024

The deadline for making a nondeductible IRA contribution typically aligns with the federal income tax return filing deadline for that tax year, usually April 15 of the following year. However, IRS Notice 2023-62 established a two-year extension, delaying implementation until January 1, 2026. Rahill, CPA/PFS, JD, LL.M.,

Tax 115

Tax Illinois CPA income tax 115

CPA Practice

MARCH 10, 2023

Under the Tax Cuts and Jobs Act (TCJA), the interest is deductible on acquisition debt up to a $750,000 threshold for 2018 through 2025, down from $1 million. The threshold is scheduled to revert to $1 million in 2026. The higher limit is grandfathered for prior loans.)

Tax 98

Tax Arizona income tax Construction 98

KROST

AUGUST 6, 2021

The law is retroactive to years beginning on or after January 1, 2021 and continues for years ending before January 1, 2026. The tax for years beginning on or after January 1, 2021, is due on or before the due date of the PTE’s tax return without regard to extensions. David Troost, CPA, Senior Manager.

California 52

California Tax tax return Real Estate 52

CPA Practice

APRIL 19, 2024

1, 2026, on these information returns and statements, so that customers have the information they need to prepare their tax returns.” The IRS also has included “unhosted wallet provider” as a check box on the tax form.

tax return 69

tax return Sales Tax CPA 69

Going Concern

MAY 24, 2024

in the IRS Inflation Reduction Act (IRA) Strategic Operating Plan , we encourage the IRS to issue guidance on the areas that we have suggested,” says a letter to the IRS, dated May 17 and signed by Blake Vickers, CPA, CGMA, chair of the AICPA Tax Executive Committee (TEC). for 2026 Form 1040s.

audit 102

audit auditor accounting and finance accounting firms 102

CPA Practice

JUNE 26, 2024

In addition to answering telephone calls, AM employees process identity theft victims’ assistance cases, taxpayer correspondence, and amended tax returns. We need to keep in mind that backlogs in processing tax returns and taxpayer correspondence drive much of the phone volume,” Collins wrote.

tax return 105

tax return Technology Tax accounting manager 105

Going Concern

APRIL 8, 2022

CPA firms show progress in diversity amid pipeline challenges [ Journal of Accountancy ] The AICPA finally got around to releasing their 2021 Trends report, which we’ll dissect shortly. in 2020) in the portion of new accounting graduate hires at CPA firms who are ethnically diverse. Brian Streig, CPA (@cbriancpa) April 8, 2022.

Iowa 52

Iowa auditor cpa firm CPA 52

CTP

OCTOBER 30, 2024

By working with a large CPA firm or another company offering family office services, families can maintain privacy, develop a unified strategy, establish structured governance, streamline their team of advisors, and overall set up a more cost-efficient way to plan for the future. However, under TCJA, this deduction was suspended until 2026.

Tax 52

Tax tax return Real Estate cpa firm 52

Anders CPA

JANUARY 7, 2025

The 2025 Form 1099-NEC must be given to the recipient and sent to the IRS, using either paper or electronic filing procedures, by January 31, 2026. For form 1099-MISC, the due dates to the IRS are February 28, 2026, if you file on paper or March 31, 2026, if you file electronically, but the due date to the recipient remains January 31, 2026.

payroll tax 52

payroll tax payroll Missouri Tax 52

CPA Practice

AUGUST 19, 2024

Rahill, CPA, PFS, JD, LLM, CGMA. The deadline for making a nondeductible IRA contribution typically aligns with the federal income tax return filing deadline for that tax year, usually April 15 of the following year. Rahill, CPA/PFS, JD, LL.M., By Daniel F. CGMA is a wealth strategist at Wintrust Wealth Management.

Tax 52

Tax CPA Illinois income tax 52

Withum

FEBRUARY 26, 2024

The framework would extend the increased adjusted taxable income base to earnings before interest, taxes, depreciation, and amortization (EBITDA) for taxable years beginning after December 31, 2023, and before through January 1, 2026.

cpas 52

cpas Tax Start-ups Sales 52

CPA Practice

OCTOBER 22, 2024

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. These tax rates are for the 2025 tax year covering tax returns that will be filed in 2026.

Tax 124

Tax tax return Transportation income tax 124

Going Concern

AUGUST 28, 2023

Two Mississippi State University grads were recognized for getting the highest CPA exam scores in their state : Karis Pannel, of Tupleo’s Byrne Zizzi CPAs, received the MSCPA’s Fred T. We are very proud of Karis and Gelsey and their performance on the CPA exam,” said MSU College of Business Dean Scott Grawe.

accounting firms 52

accounting firms CPA accountant accounted 52

CPA Practice

FEBRUARY 21, 2024

By Matt Durr, mlive.com (TNS) IRS Commissioner Daniel Werfel says millions of parents in America don’t need to wait to file their 2024 tax return due to a possible increase in refundable value of the Child Tax Credit. citizen, U.S. national or U.S.

Tax 113

Tax tax return income tax 113

Going Concern

JANUARY 20, 2023

“There’s a war for talent,” said Phil Whitman, CPA, CEO and president of Whitman Transition Advisors LLC, a consultancy that provides recruiting, M&A advising, and other services for accounting firms. In 2020, it said the process would be complete by 2026.

auditor 98

auditor Technology audit financial statements 98

Going Concern

FEBRUARY 26, 2024

And I’m also feeling a lot of guilt in looking back… — Brenda Cannon, CPA (@bsuecannon) February 23, 2024 The Marines have achieved the seemingly impossible : The U.S. Price and his tax return preparation business, Price’s Accounting Firm Inc., from preparing federal income tax returns for others.

audit 59

audit Mississippi Non-Profits auditor 59

CPA Practice

MARCH 6, 2024

Terry Link, who wore a secret FBI wire in a sting against a colleague in the Illinois Legislature, was sentenced to three years of probation Wednesday on tax evasion charges stemming from the withdrawal of campaign funds for personal use.

Illinois 105

Illinois Tax Gambling Gaming 105

Anders CPA

APRIL 14, 2022

This transfer is accomplished by completing the election on the Form 706 Estate Tax Return and can be completed without regard to the legal ownership of each spouse. To use the DSUE, the estate must timely file an Estate Tax Return when the first spouse passes away, and the “portability” election must also be properly completed.

Tax 59

Tax tax return tax planning Legal 59

CPA Practice

FEBRUARY 1, 2024

“The Senate must swiftly consider and pass this bill so that our fire survivors receive the tax relief they desperately need.” In its latest form, the bill will provide tax relief on wildfire-related settlement payments received after Dec. The tax package must pass the U.S. “We 31, 2019 and before Jan.

Tax 52

Tax California Ohio tax return 52

Withum

FEBRUARY 20, 2025

The deadline for submitting the San Francisco Gross Receipts Tax return is quickly approaching on February 28, 2025. A broad restructuring of the exemption threshold, apportionment formulas, and rates could considerably change your tax liability and estimates required for 2025. They are scheduled to increase in 2027 and 2028.

Tax 90

Tax tax return payroll CPA 90

Withum

NOVEMBER 25, 2024

Itemized Deductions Specifically, the Tax Cuts and Jobs Act included changes to the following itemized deductions for individual taxpayers. TCJA also eliminated home equity loan interest deductions of $100,000 equity indebtedness slated to return in 2026. The 2025 exemption amount is $14 million.

Tax 105

Tax income tax Real Estate tax return 105

Withum

JANUARY 7, 2025

Per these regulations, Form 1099DA will be used to report digital asset sales to the IRS and to assist taxpayers with reporting on their income tax returns. The IRS requires that these forms be sent to taxpayers in early 2026 for use on taxpayers tax returns for the 2025 tax year.

tax return 59

tax return income tax CPA Tax 59

Anders CPA

OCTOBER 28, 2024

Detailed information about the adjustments and changes to the over 60 tax provisions impacting taxpayers can be found in Revenue Procedure 2024-40. The adjustments described below generally apply to income tax returns that will be filed in 2026 for tax year 2025.

Tax 64

Tax income tax tax return Transportation 64

Ronika Khanna CPA,CA

DECEMBER 27, 2024

GST/HST Instalments are due on April 30th, 2025, July 31st, 2025, October 31, 2025 and January 31st, 2026. QST Instalments are due on April 30th, 2025, July 31st, 2025, October 31, 2025 and January 31st, 2026. It should be noted that penalties and interest on overdue balances are not tax deductible expenses.

business tax 52

business tax Tax income tax tax return 52

Nancy McClelland, LLC

JANUARY 11, 2025

Keep in mind that estimated quarterly tax payments for business owners (including sole proprietors) are due January 15 (4Q 2024), April 15 (1Q 2025), June 16 (2Q 2025), September 15, 2025 (3Q 2025) and January 15, 2026 (4Q 2025). Once you have submitted your return, you can use the agencys Wheres My Refund tool to check the status.

Tax 52

Tax tax return Education income tax 52

SkagitCountyTaxServices

FEBRUARY 20, 2025

If you sell an asset and reinvest your gains into a Qualified Opportunity Fund (QOF) within six months, you can defer paying taxes on those gains. The deferred taxes wont come due when you sell your OZ investment or by December 31, 2026, whichever comes first. app.acuityscheduling.com/schedule.php?owner=19530343

business tax 52

business tax Tax tax return audit 52

CPA Practice

NOVEMBER 26, 2024

Filing the Final Income Tax Return By Ken Berry Losing a loved one is never easy. Which begs the question: Does a tax return have to be filed on behalf of the relative? someone appointed by the court) generally is required to file a federal income tax return for the year of death.

tax return 111

tax return income tax Tax Legal 111

Withum

APRIL 8, 2025

million of cash or property tax-free during an owners lifetime may be reduced substantially. Its essential for hospitality business owners to be aware of the sunsetting TCJA provisions beginning in 2026 because the value of real property held by entities and individuals has increased significantly in recent years.

Hospitality 52

Hospitality tax return tax planning Tax 52

CPA Practice

OCTOBER 17, 2024

By Caitlin Reilly CQ-Roll Call (TNS) While 2025 is being hailed as “Tax Super Bowl”—or, in some corners, “Tax Armageddon”—the growing possibility of divided government in Washington next year has some predicting the tax fight could stretch into 2026 and beyond. What’s the real deadline in 2026?

Tax 111

Tax Washington Government tax return 111

CPA Practice

OCTOBER 15, 2024

While 2025 is being hailed as “Tax Super Bowl”—or, in some corners, “Tax Armageddon”—the growing possibility of divided government in Washington next year has some predicting the tax fight could stretch into 2026 and beyond. What’s the real deadline in 2026? First, it’s the withholding tables.

Tax 96

Tax Washington Government tax return 96

Going Concern

FEBRUARY 18, 2025

A related r/accounting convo from last week: Who says accountants aren't funny pic.twitter.com/YDw7ytLQfS — Going Concern (@going_concern) February 15, 2025 The alternate CPA pathways rebellion is well underway and spreading out from where it first spawned in the Midwest. Nick Pisciottano, CPA-Inactive (D-Allegheny).

Pennsylvania 52

Pennsylvania Virginia cpas Account 52