CPA Practice

SEPTEMBER 26, 2024

There’s a big difference between “tax avoidance” and “tax evasion.” Simply put, tax avoidance relies on legitimate strategies that may be used to reduce your income tax liability. Conversely, tax evasion is illegal. These penalties are added to the back taxes already due. This is perfectly legal.

Tax 101

Tax Missouri income tax tax return 101

Going Concern

MARCH 17, 2023

Restoring Exam credits expired during COVID would help address CPA shortage [ AICPA ] The accounting profession is confronted with a talent shortage, and reinstating CPA exam credits that have expired since January 1, 2020, could have an immediate impact on our CPA pipeline.

Government 97

Government Gambling audit CPA 97

CPA Practice

MARCH 8, 2024

The Tax Blotter is a summary of recent tax news, rulings and legislation. Previously, taxpayers that itemized could deduct miscellaneous expenses on their personal returns, but the Tax Cuts and Jobs Act (TCJA) suspended this tax break. Be aware that this tax deduction is scheduled for a comeback. Set to return.

Gambling 52

Gambling Tax 52

CPA Practice

JUNE 4, 2024

Brown, CPA 2023 Most Powerful Women in Accounting Founder & CEO Everyday Lead What is your favorite part of being a member of the accounting profession? Heal the Workplace The Burnout Gamble Subtle Acts of Exlusion - Jeannine K.

CPA 52

CPA accountant accounted Account 52

CPA Practice

OCTOBER 25, 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review Liscio , a client experience platform that centralizes communication, document collection, and task management for accounting firms. You have to be great at federal taxes. You have to be great at federal taxes. It’s a it’s always good for me because I learned something new.

Technology 109

Technology Account accounted accountant 109

CPA Practice

AUGUST 14, 2024

By Sean McDonnell cleveland.com (TNS) DraftKings will not be charging winners extra fees in “high tax states” after all, the company announced Tuesday. The sports-betting company announced that it would scrap its plan to add a “gaming tax surcharge” to winning bets in 2025. A tax surcharge in early 2025 isn’t even on our radar. “A

Gambling 52

Gambling Sports Ohio Tax 52

CPA Practice

JUNE 5, 2024

By Bill Plunkett, The Orange County Register (TNS) Shohei Ohtani’s former interpreter, Ippei Mizuhara, entered guilty pleas to bank and tax fraud charges in federal court Tuesday morning. With that, MLB announced that its investigation of Ohtani’s involvement in Mizuhara’s gambling has concluded and Ohtani has been cleared of any wrongdoing.

Gambling 52

Gambling Tax Sports Gaming 52

Going Concern

FEBRUARY 9, 2024

Big 4 Big Four Lobby Congress on Accounting Pipeline, AI, Crypto [ Bloomberg Tax ] PwC spent the most at $3.27 In a summary of the report, Linklaters said six unidentified partners outside Australia should have asked where the tax information had come from and that disciplinary action had been taken against them. “Win big?

Technology 104

Technology Colorado audit cpa firm 104

Going Concern

AUGUST 12, 2024

Ortiz spent years there auditing and studying for her CPA exam. The Institute of Public Accountants of Australia is annoyed that all tax practitioners are getting lumped in with naughty PwC. Many current and former PwC partners challenge the idea that the tax leaks matter involved any serious wrongdoing. The reason is cultural.

Tax 59

Tax Account accountant accounted 59

CPA Practice

SEPTEMBER 9, 2024

5, the IRS Criminal Investigation unit reminded taxpayers that illegal sports gambling can result in criminal charges ranging from money laundering to tax evasion. Between fiscal years 2020 and June 2024, IRS-CI initiated 151 investigations into illegal gambling activity totaling more than $178.8

Sports 52

Sports Gambling tax return Tax 52

Going Concern

JANUARY 19, 2024

Leadership PwC Vets Finalists for Top Job as Industry Meets AI, Gen Z Era [ Bloomberg Tax ] PwC’s next leader will confront the challenges of rapidly advancing technology, recruiting and training an evolving workforce, and keeping up with the needs of its core accounting clients. I get my tax documents in early. Fair enough.

Arizona 105

Arizona accounting and finance audit Technology 105

SkagitCountyTaxServices

FEBRUARY 4, 2021

So, last week I ran through the (rather incredible) selection of NEW and/or extended tax credits available for Skagit County business owners. But this is the great thing about working with business owners in tax strategy … we can get so creative and make a MASSIVE impact for your bottom line. Want to get a jump on things?

income tax 54

income tax Tax Real Estate tax return 54

CPA Practice

MAY 8, 2024

By Connor Sheets, Los Angeles Times (TNS) Ippei Mizuhara, the former interpreter for Dodgers superstar Shohei Ohtani, has agreed to plead guilty in federal court to stealing millions of dollars from Ohtani to cover gambling debts, according to the U.S. Department of Justice. The extent of this defendant’s deception and theft is massive,” U.S.

Gambling 52

Gambling Sports tax return Tax 52

CPA Practice

MAY 3, 2023

John is a graduate of Duquesne University, with a Bachelor’s Degree in Information Technology Sun Joins CohnReznick as Principal, Cybersecurity CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, recently announced that David Sun has joined the firm as Principal in its rapidly growing Cybersecurity practice.

Washington 77

Washington Gambling public accounting New Jersey 77

CPA Practice

MAY 28, 2024

The IRS wants its share of the jackpot a player wins and, to assure that, requires casinos to issue a W2G, a special tax form that also informs the IRS of gambling wins that must be included when calculating annual income at tax time. Issuing W2Gs But rules are rules. Werfel heard testimony about changing the threshold Nov.

Nevada 76

Nevada Gambling Gaming Transportation 76

CPA Practice

APRIL 4, 2024

of embezzling money invested by a business partner into a company they set up to buy Texas properties sold at auctions due to unpaid taxes. The company was to serve as a real estate joint venture between the two to invest in Texas properties that were being sold at public auctions due to unpaid taxes.

Real Estate 69

Real Estate Account accountant accounted 69

CPA Practice

MAY 29, 2024

The IRS wants its share of the jackpot a player wins and, to assure that, requires casinos to issue a W2G, a special tax form that also informs the IRS of gambling wins that must be included when calculating annual income at tax time. Issuing W2Gs But rules are rules. Werfel heard testimony about changing the threshold Nov.

Nevada 63

Nevada Gambling Gaming Transportation 63

CPA Practice

MARCH 27, 2024

Women pay thousands of dollars more than men each year for necessary items, an expense known as the “pink tax.” When people talk about the pink tax, they’re talking about that things cost more. Those dollars are powerful, and consumers can deploy that power by making purchasing decisions with the pink tax in mind.

Minnesota 63

Minnesota Gambling Tax Sports 63

Going Concern

JULY 28, 2023

The combination of too few professionals and high demand is pushing firm leaders to merge up, outsource tax work and hire non-CPAs, among other strategies. Beginning no later than 2011, Fulton was aware that Nix ran an illegal gambling business. The question now is whether year-over-year growth of 18% will continue next year.”

Gambling 98

Gambling audit Technology accounting firms 98

Going Concern

DECEMBER 8, 2023

Pipeline The AICPA and NASBA’s Inadequate Response to Reaching 150 Hours [ CPA Journal ] The 150-hour requirement is a considerable barrier for students wanting to become a CPA or considering accounting as a major, even if it is not the dominant barrier. hours), and quality of work performed as leading barriers.

cpas 119

cpas Account accountant accounted 119

CPA Practice

MARCH 30, 2023

Overall, consumers may be amassing more than $50 billion a month in cash through extra earnings — with a large portion of that money undeclared to tax authorities, according to the report. “A Roughly 4% say they supplement their income with returns on betting or gambling.

Gambling 113

Gambling Tax payroll 113

Going Concern

FEBRUARY 12, 2024

Someone you know spoke to NPR’s Marketplace for this story: Some accountants are turning away new customers this tax season Tax filing season is here and if you’ve been putting off finding a CPA, good luck. We get calls all the time saying, ‘Hey, my CPA just retired. Do you have room?’ Do you have room?’

auditor 73

auditor Account accountant accounted 73

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. In going along with that recommendation, U.S.

Illinois 101

Illinois Tax Gambling Gaming 101

Going Concern

AUGUST 26, 2022

CPAs spill the beans [ CPA Canada ] Three accountants share their experience being back at the office. Baker Tilly Acquires Consulting Firm Management Partners [ CPA Practice Advisor ] The national advisory and CPA firm Baker Tilly US, LLP (Baker Tilly) will acquire Management Partners, effective Oct. Firm M&A.

CPA 98

CPA cpas audit cpa firm 98

Going Concern

JANUARY 19, 2023

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. government. He was also ordered to pay nearly $9.7 He was also ordered to pay nearly $9.7

Tax 65

Tax tax return Gambling tax preparation 65

Anders CPA

DECEMBER 2, 2024

In other positive news, after months of speculation, we can expect the tax situation to stabilize; although details are still being worked out, experts believe that congress will extend the 2017 tax cuts that are set to expire in 2025. Without a crystal ball, it’s always a bit of a gamble.

Transportation 52

Transportation Gambling CPA Tax 52

Going Concern

JANUARY 31, 2025

Latest Goldstein Lieberman acquisition boosts CPA firm into nations top 1% [ NJBIZ ] Um that’s some iffy math there considering no one has heard of either of these firms and they don’t rank on the IPA 500. One of the regions largest CPA firms is getting bigger, following Goldstein Lieberman & Co.

cpa firm 52

cpa firm Arizona auditor audit 52

CPA Practice

OCTOBER 8, 2024

By Girard Miller Governing (TNS) With great fanfare, the Trump administration heralded a 2017 federal tax break for Opportunity Zones that continues to enjoy some bipartisan support to encourage economic development in low-income communities. The basic premise was essentially trickle-down economics: “Build it and they will come.”

Real Estate 52

Real Estate income tax accounting and finance Construction 52

CPA Practice

OCTOBER 25, 2023

20 that it has recovered $160 million in back taxes so far this year. Those 100 wealthy taxpayers are among 1,600 individuals who the IRS has begun contacting since September because they owe hundreds of millions of dollars in taxes, the agency said. He spent $110,000 on personal expenses and $502,000 on gambling, according to the IRS.

Tax 131

Tax tax return Gambling Construction 131

CPA Practice

APRIL 5, 2024

By Erik Wasson and Samantha Handler, Bloomberg News (TNS) Senate Republicans are poised to sink a $78 billion tax-cut package, gambling that they’ll win the majority in November and can push then for bigger breaks for business. But Senate Republican leader Mitch McConnell supports efforts to block the package, as does his No.

Tax 105

Tax Idaho Kentucky Gambling 105

Going Concern

JANUARY 21, 2025

KPMG UK is under investigation : The accounting firm KPMG is under investigation by the sectors UK regulator over its audit of the 2022 accounts of the gambling company Entain. After graduating from BYU five years ago, she worked as a CPA then gave birth to Tommy. For funsies. NOW GET BACK TO WORK!

Account 52

Account accountant accounted CPA 52

CPA Practice

DECEMBER 9, 2024

By Kevin Hardy Stateline.org (TNS) While states have cheered the new tax revenue from sports gambling, some new studies have linked the burgeoning industry to lower consumer credit scores, higher credit card debt and less household savings. Legal sports gambling is more widespread than ever. A 2018 U.S.

Sports 52

Sports Gambling West Virginia Missouri 52

CPA Practice

AUGUST 2, 2024

Caitlin Reilly CQ-Roll Call (TNS) WASHINGTON — The Senate fell short as expected Thursday of the 60 votes needed to start debate on a $79 billion tax bill that would deliver financial relief to businesses and low-income families, amid opposition from most Republicans and some on the majority side of the aisle as well.

Tax 98

Tax Idaho West Virginia Vermont 98