MyIRSRelief

FEBRUARY 8, 2023

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations.

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KROST

NOVEMBER 9, 2023

The post Understanding the Complexities of Tax for Professional Athletes appeared first on KROST.

Sports 81

Sports Tax Entertainment CPA 81

Anders CPA

OCTOBER 2, 2023

Schindler, CPA has been named to St. About Dan Schindler Dan’s unwavering dedication to his clients has followed him from his first year at the firm as a tax intern through his journey to partner. The post Anders Tax Partner Dan Schindler Named a Best Accountant by St. Louis Small Business Monthly’s Best Accountants list.

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CPA Practice

JUNE 5, 2023

Taylor, Kiplinger Consumer News Service (TNS) NBA finals Game 2 is in the books, and many people who tuned in to see the Miami Heat tie the series with the Denver Nuggets are probably not wondering what a jock tax is. But the NBA Finals—and other sporting events—are connected to taxes in a big way. What is the jock tax?

income tax 118

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CPA Practice

SEPTEMBER 30, 2024

The Internal Revenue Service has issued guidance providing tax relief for farmers and ranchers in applicable regions forced to sell or exchange livestock because of drought conditions. Sales of other livestock, such as those raised for slaughter or held for sporting purposes, or poultry, are not eligible. 1, 2023, and Aug.

Tax 116

Tax Sports Sales 116

KROST

SEPTEMBER 15, 2023

The Sports & Entertainment Issue highlights some of the hot topics in the sports & entertainment industry including tax issues for athletes, estate & trust planning, Client Accounting Services, and more. The post KROST Industry Magazine: The Sports & Entertainment, Vol. 5 Issue 2, is Now Available!

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RogerRossmeisl

NOVEMBER 13, 2022

In addition to money laundering, tax evasion and terrorist funding, NFTs are being used to commit fraud and steal from unsuspecting asset buyers. Snapshot view In their simplest form, NFTs are immutable digital assets — often related to art, sports, music, digital culture and avatars — linked to the blockchain, the digital ledger.

Sports 193

Sports CPA Tax Technology 193

CPA Practice

JANUARY 10, 2024

The legalization of sports betting and online gambling has led to an explosion in gaming across America. With millions trying their luck, complex tax rules for reporting and deducting gambling winnings and losses present new challenges for taxpayers. This can result in much lower gross winnings and, therefore, lower taxes owed.

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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. Ohio’s tax rate was initially 10%, but Gov.

Gambling 52

Gambling Ohio Sports Tax 52

ThomsonReuters

APRIL 2, 2024

Jump to: The allegations The IRS investigation Ohtani’s response Implications for Ohtani and the Dodgers Broader impact on professional sports Uncovering the truth The Internal Revenue Service (IRS) launched an investigation into the financial scandal involving Shohei Ohtani, the star player for the Los Angeles Dodgers.

Gambling 105

Gambling Sports Legal Gaming 105

CPA Practice

JUNE 6, 2023

The event will feature keynote speakers who will teach leadership tactics to put one’s career and organization on track for growth and leading technology, audit and tax industry professionals who will present best practices to thrive in accounting today. Learn more about the Convention and register at njcpa.org/convention.

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CPA Practice

SEPTEMBER 17, 2024

Donations include classroom essentials, office supplies, arts and craft materials, educational products, books, backpacks, party goods, cleaning supplies, sporting goods, software, and much more. In return for their donations, they receive significant tax deductions. Donors include leading American companies.

Tax 105

Tax Sports Education 105

CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? By Gail Cole.

Sales 119

Sales Tax Nevada West Virginia 119

Anders CPA

JULY 26, 2022

The Missouri Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Missouri, the tax-free holiday starts at 12:01 a.m. During this period, qualified purchases are exempt from sales tax. WHAT ITEMS ARE EXEMPT FROM SALES TAX? WHICH STATES DOES THIS APPLY TO?

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Missouri Tax Sports Sales 98

CPA Practice

JUNE 13, 2023

Last Friday, the IRS’s Chief Counsel’s office released a memo stating that donations made to nonprofit NIL collectives are not tax exempt. Sports Illustrated first reported the development. THE Foundation tweeted in response to the IRS ruling, saying all donations through its website “remain tax deductible.” “Our

Ohio 104

Ohio Tax Sports Legal 104

CPA Practice

FEBRUARY 1, 2024

Under the so-called “Augusta rule,” homeowners can avoid any tax consequences for certain short-term rentals. Let’s start with this basic tax premise. Conversely, you can offset this tax liability with deductions for related expenses, including mortgage interest, property taxes, insurance, repairs, utilities, etc.,

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CPA Practice

NOVEMBER 27, 2023

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems. Instead and Instead Pro offer seamless Augusta Rule savings estimation to help plan, calculate, document and file a return.

tax planning 98

tax planning Tax income tax Sports 98

MyIRSRelief

APRIL 3, 2023

That’s where an accountant (EA or CPA) can help. Tax Planning and Preparation: An accountant (EA or CPA) can help small business owners navigate the complex world of tax laws and regulations, ensuring compliance and minimizing tax liabilities. Contact us today for all you tax and accounting needs.

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Going Concern

FEBRUARY 2, 2023

” To put things into perspective for the normies who may not understand that accountants’ work is critical to the entire foundation of our financial system, he likens accountants to referees, the order-keepers of sports: “We may not always like the referees, but sports is a free-for-all without them,” he said.

Account 105

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CPA Practice

AUGUST 3, 2023

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

Sales 96

Sales South Carolina West Virginia Tax 96

Going Concern

JUNE 13, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 59

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CPA Practice

JULY 6, 2023

If the organization that is running the project qualifies as a 501(c)(3) organization under the tax code, the full amount of your contributions is generally tax- deductible within generous annual limits. However, other types of tax-deductible contributions may go in a different direction. That’s a relatively common scenario.

Tax 97

Tax income tax Entertainment Education 97

CPA Practice

MAY 26, 2023

With additional reporting by CPA Practice Advisor staff. On Thursday, May 25, Governor Ron DeSantis of Florida signed a bill to approve legislation that provides six sales tax holidays in the state. The bill also establishes numerous new permanent Florida sales tax exemptions.

Florida 98

Florida Sales Tax Agriculture 98

inDinero Tax Tips

AUGUST 29, 2023

Don’t Even Try Deducting These 13 Non-Deductible Business Expenses Frequently Asked Tax Deduction Questions Conclusion What Are the IRS Rules for Non deductible Business Expenses? There are many ways businesses can lower their tax liability. For another example, property taxes on your business’s office space are deductible.

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CPA Practice

MAY 15, 2024

CPA Practice Advisor ‘s Readers’ Choice Awards , now in their 20th year, give our readers the chance to spotlight the technologies they most respect and trust to provide client services, manage their firms, and help their clients run their businesses. But even basic tax planning can make a big difference in reducing future tax liability.

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Anders CPA

AUGUST 2, 2023

The Missouri Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Missouri, the tax-free holiday starts at 12:01 a.m. During this period, qualified purchases are exempt from sales tax. WHAT ITEMS ARE EXEMPT FROM SALES TAX? DO ALL CITIES IN MISSOURI PARTICIPATE?

Missouri 52

Missouri Illinois Tax Sports 52

CPA Practice

NOVEMBER 20, 2024

By Adam Venokur , CPA/PFS, CFP, Northeast Regional Leader at Aprio. According to the American Institute of Certified Public Accountants, the number of first-time CPA exam candidates decreased by 33% between 2016 and 2021.

Account 52

Account accounted accountant Technology 52

BuildYourFirm

APRIL 14, 2020

Guest Bio: Corey Lord, Lord CPAs CEO. Corey is the CEO and a Client Ally at Lord CPAs. Corey took over Lord CPAs from his father in. 2010 and has since transformed the firm from a traditional tax-focused firm to an advisory and consultancy firm for craft food and beverage businesses. He is a licensed CPA in Michigan.

Michigan 246

Michigan cpas Sports Education 246

CPA Practice

FEBRUARY 6, 2023

Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits. Under new federal tax credits, SUVs, trucks and vans can cost up to $80,000 and still qualify for a $7,500 credit.

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Tax Washington Sports Transportation 128

Going Concern

JULY 26, 2024

ICYMI These are the top stories on Going Concern this week You Can Sit for the CPA Exam in the Philippines Now Golf Fans Everywhere Now Think BDO Sells Dildos and Lube Just How Much Have Accounting Salaries Increased in the Last Five Years? Who Wants to See How Much Big 4 Revenue by Service Line Has Changed Since SOX?

Oklahoma 105

Oklahoma audit South Dakota accounting firms 105

Anders CPA

NOVEMBER 21, 2023

As we near year-end, it’s important to be aware of the latest tax tips and guidelines to maximize your financial potential for 2024. Make sure you’re taking advantage of donations, cash gifts and more deductible activities to minimize your tax burden.

tax planning 52

tax planning Tax payroll Education 52

Anders CPA

JULY 26, 2022

The Illinois Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Illinois, the sales tax holiday starts at 12:01 a.m. During this period, qualified purchases can be purchased at a reduced sales tax rate. The state’s portion of the sales tax (6.25%) is reduced to 1.25%.

Illinois 52

Illinois Tax Missouri Sports 52

Anders CPA

JANUARY 2, 2024

Huff, CPA and Joshua L. Snyder, CPA in Tax and Clay M. Kniepmann, JD, CPA/CFF/ABV, CFE in Forensic, Valuation and Litigation to principals at the firm. About Ryan Huff Ryan began his accounting career at Anders in 2008 and has worked his way up to principal as a technical resource for the tax department.

Missouri 59

Missouri forensic accounting Illinois public accounting 59

CPA Practice

JANUARY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday?

Sales 78

Sales Nevada Tax West Virginia 78

xendoo

NOVEMBER 1, 2021

You might not be thinking about taxes until closer to the deadline, but planning your eCommerce tax deductions is a year-round process. If you run an online business, investing in tax-deductible business expenses can reduce your tax burden and increase your profits. Property taxes. Homeowner’s insurance.

Tax 95

Tax Transportation tax return bookkeeping 95

CPA Practice

JUNE 12, 2023

Last Friday, the IRS’s Chief Counsel’s office released a memo stating that donations made to nonprofit NIL collectives are not tax exempt. Sports Illustrated first reported the development. THE Foundation tweeted in response to the IRS ruling, saying all donations through its website “remain tax deductible.” “Our

Ohio 52

Ohio Tax Sports Legal 52

Going Concern

AUGUST 12, 2024

Ortiz spent years there auditing and studying for her CPA exam. That’s when a friend suggested they start running together — a sport Ortiz hadn’t participated in since joining her high school track team. The Institute of Public Accountants of Australia is annoyed that all tax practitioners are getting lumped in with naughty PwC.

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