CPA Practice

NOVEMBER 13, 2024

Embedded tax software provider April introduced AprilPro, an AI-powered filing solution to meet the evolving needs of taxpayers who have complex financial situations. AprilPro pulls in data from existing financial accounts, reducing the time spent gathering documents.

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inDinero Tax Tips

MAY 21, 2021

Did you know your business could qualify for a ‘sweet’ tax credit. If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. The R&D tax credit wasn’t always available to small businesses. What is the R&D Tax Credit?

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xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. What Does a Tax Consultant Do?

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inDinero Tax Tips

MARCH 31, 2021

Tax season is here. Did you remember to make estimated tax payments? Are you aware of all the tax deductions for your side hustle? Extra income earned may require additional tax payments throughout the year, otherwise known as estimated tax payments. What are estimated taxes for side hustlers?

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inDinero Tax Tips

MARCH 2, 2023

Cryptocurrency tax rules can be complicated and confusing, but you definitely need to report your crypto gains. Here’s a look at what happens if you don’t report cryptocurrency on taxes — along with answers to common crypto tax questions. What Happens if You Don’t Report Cryptocurrency on Taxes?

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Cherry Bekaert

FEBRUARY 27, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) expanded income tax disclosure requirements for public and private companies. The expanded disclosure requirements are detailed in Accounting Standards Update No. 2023-09 (ASU 2023-09) and increase transparency of a filer’s global taxes.

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Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required. 2023-09 (ASU 2023-09).

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CPA Practice

OCTOBER 11, 2023

A federal jury convicted Gyetvay in March 2023 of failing to file a Report of Foreign Bank and Financial Accounts (FBAR), making a false statement to the IRS and willfully failing to file tax returns. Additionally, and despite being a CPA, Gyetvay did not file personal tax returns for 2013 and 2014.

Florida 105

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MarkFriedlich

MARCH 30, 2020

Specifically, as worded in the Act, “no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting […]. The post The CARES Act Provides Temporary Relief from CECL Standard appeared first on Tax & Accounting Blog.

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Going Concern

JANUARY 3, 2025

Bench to be acquired after abruptly shutting down [ TechCrunch ] Bench, the VC-backed accounting startup that left thousands of customers locked out of their accounts after it suddenly shut down last week, will be acquired by Employer.com for an undisclosed price in a last-minute deal, TechCrunch has exclusively learned.

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Going Concern

APRIL 4, 2025

PwC China plans to spin off cyber security arm [ Financial Times ] PwC China plans to spin off its Dark Lab cyber security arm in a private buyout deal, as the Big Four firm seeks to improve liquidity and navigate the financial fallout from its audit of failed Chinese property developer Evergrande. It’s free!

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CPA Practice

OCTOBER 17, 2023

citizen residing in the Principality of Monaco has pleaded guilty to tax evasion for concealing from the IRS over $5,130,000 in income derived from a real estate transaction and securities investments in offshore bank accounts. million into the new UBS Monaco account, further earning undisclosed interest and dividends until 2017.

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CTP

OCTOBER 17, 2022

Even if your business only has one administrator and one tax preparer, that is your team. Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. Business controls are not limited to financial accountability.

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CTP

JANUARY 9, 2023

Even if your business only has one administrator and one tax preparer, that is your team. Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. Business controls are not limited to financial accountability.

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inDinero Tax Tips

JANUARY 1, 2025

Good accounting also helps avoid costly mistakes: misfiled taxes, underreported equity, or mismanaged cash flow can snowball into major problems. Doing so informs the IRS youd like to be taxed on the date the equity is granted rather than when it vests. Accrual accounting is better suited for tech startups.

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CPA Practice

MARCH 14, 2023

This article will provide a general overview of the current reporting requirements for foreign financial assets on the Report of Foreign and Financial Accounts (“FBAR”) and on Form 8938 under the Foreign Account Compliance Act (“FATCA”). person concerning that account or has any signatory authority over the account.

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CPA Practice

NOVEMBER 7, 2024

As the year comes to a close, clients will increasingly rely on their advisors to help them confidently close out their financials. This article explores actionable strategies CPAs, accountants, and tax professionals can recommend to clients to optimize A/R processes, maintain strong cash flow, and enhance overall financial stability.

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Basis 365

JANUARY 14, 2025

Financial Accounting Team: A dedicated accounting team is essential for daily bookkeeping, bill payment processing, payroll, sales invoicing, and financial statement preparation. CFOs go beyond traditional accounting roles, providing insights on risk management, restructuring, investor relations, and financing options.

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ThomsonReuters

OCTOBER 12, 2023

expats pay taxes? Paying taxes on money earned abroad Avoiding double taxation Helping clients who live abroad with their taxes U.S. income tax returns, just like individuals living in the United States. However, the tax obligations for expats can be different and more complex due to their international status.

Tax 75

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Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. Accounting Standards Update No. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

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Withum

JANUARY 29, 2025

Introductory Course in Financial Accounting at Baruch College This Friday, I will start a new semester teaching the introductory course in financial accounting at Baruch College, my alma mater. About 60% of the students are split between accounting and finance majors.

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SkagitCountyTaxServices

NOVEMBER 8, 2023

While there have been some good developments from the IRS with regard to Skagit County businesses like yours (primarily the business accounts option), there are also the negative implications of a more concerted effort by the IRS to collect unpaid taxes.

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CPA Practice

FEBRUARY 21, 2023

17 issued interim guidance for insurance companies on the corporate alternative minimum tax (CAMT), which was created by last year’s Inflation Reduction Act. The CAMT imposes a 15% minimum tax on the adjusted financial statement income of large corporations for taxable years beginning in 2023.

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inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. have a year-round reliable accounting team and. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Partnership Tax Deadlines.

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ThomsonReuters

MARCH 17, 2023

As a trusted advisor to your clients, you understand the importance of having access to credible tax research sources to help you keep pace with today’s complex regulatory environment. This includes both primary and secondary sources of tax laws. What are the primary sources of tax law?

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Going Concern

JANUARY 2, 2023

While the PCAOB has been on a mission to scare the pants off of auditors everywhere in the past year with record fines and scary speeches, the Financial Accounting Standards Board took a much more chill approach to 2022. 8—Conceptual Framework for Financial Reporting—Chapter 2: The Reporting Entity.

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CPA Practice

JULY 17, 2024

The IRS said Wednesday it’s now requiring taxpayers and financial institutions to authenticate their identities when they log in to use the Foreign Account Tax Compliance Act (FATCA) website. Enacted in 2010 by Congress to target non-compliance by taxpayers using foreign accounts or foreign entities, FATCA requires most U.S.

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Going Concern

JULY 29, 2022

Reconciliation Deal Pulls Accounting Rulemaker Into Tax Politics [ Bloomberg Tax ] A panel of unelected accountants in suburban Connecticut would play an outsized role in shaping tax policy for the nation’s largest corporations under a provision inside Senate Democrats’ sweeping tax, climate, and healthcare bill.

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CPA Practice

JULY 16, 2024

The core sections are Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG). The choices for discipline sections are Business Analysis and Reporting (BAR), Information Systems and Control (ISC), and Tax Compliance and Planning (TCP).

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CPA Practice

MARCH 7, 2023

The Uniform Certified Public Accountant Examination (CPA Exam) is regularly updated to reflect enhancements to accounting and auditing standards as well as tax laws and regulations — and to improve the efficiency of the exam. By Gail Cole. Gail Cole is a Senior Writer at Avalara.

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CPA Practice

DECEMBER 19, 2023

The Financial Accounting Standards Board (FASB) on Dec. 18 released the following taxonomies for 2024: GAAP Financial Reporting Taxonomy (GRT), SEC Reporting Taxonomy (SRT), and DQC Rules Taxonomy (DQCRT).

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CPA Practice

SEPTEMBER 6, 2023

Several AI systems were among this year’s winners of the Tax & Accounting Technology Innovation Awards, presented annually by CPA Practice Advisor, a technology and practice management resource for public accounting firms. states and the District of Columbia assess property taxes on real property (land, buildings, etc.).

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Cherry Bekaert

MARCH 9, 2023

persons for nonwillful compliance failures to file reports of foreign bank and financial accounts, is assessed against each report that is required to be filed and is not assessed against each bank account required to be reported. Foreign Bank and Financial Accounts Report (FBAR) A U.S. Originally, the U.S.

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CPA Practice

MARCH 20, 2024

The Securities and Exchange Commission has accepted the 2024 GAAP Financial Reporting Taxonomy (GRT) and the 2024 SEC Reporting Taxonomy (SRT), collectively known as the “ GAAP Taxonomy ,” the Financial Accounting Standards Board (FASB) said on March 19. In addition, the FASB finalized the 2024 DQC Rules Taxonomy (DQCRT).

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CPA Practice

SEPTEMBER 18, 2024

(Coca-Cola Israel), which exclusively markets Coca-Cola products in Israel, has been dealt a major blow and will have to pay hundreds of millions of shekels to the Israel Tax Authority. After years of discussions with the Tax Authority, the dispute reached the district court, when the Central Bottling Co. The Central Bottling Co.

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Going Concern

APRIL 26, 2023

EY has a couple blockchain gigs posted on Google Jobs in the last week) Deloitte’s crypto titles include: Blockchain & Digital Assets Manager (97 US locations) Tax Manager, Blockchain & Cryptocurrency (18 US locations) Tax Manager, Blockchain & Cryptocurrency in NFTs (three US locations) Why is Deloitte jumping on this train now?

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inDinero Tax Tips

DECEMBER 13, 2020

Before we bid this abysmal year farewell, let’s talk taxes. Do you think tax rates will go up in 2021? If the US House, Senate, and president all agree to raise (cap gains) taxes in 2021, and. That doesn’t mean we, and you, can’t assess our options to make wise and thoughtful decisions about this and other tax matters.

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