Anders CPA

NOVEMBER 26, 2024

As the year comes to a close, family foundations have an important opportunity to review their governance practices, ensure compliance, and refine strategies to better align with their philanthropic missions. Below, we outline key best practices to guide your family foundation’s governing board.

Government 52

Government Education CPA 52

TaxConnex

JANUARY 21, 2025

Different purchasers may be granted exemptions under a states statutes, and exempt buyers come in many different forms: the federal government; some state and local governments and government contractors; schools; churches; non-profit hospitals; and charities, for instance. Step by step Learn who might be exempt.

Non-Profits 147

Non-Profits auditor Hospitality Sales 147

RogerRossmeisl

FEBRUARY 23, 2025

One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains and losses from the sale or exchange of certain business property. When selling business assets, understanding the tax implications is crucial.

Sales 191

Sales Real Estate income tax CPA 191

Accounting Insight

FEBRUARY 13, 2025

Recently, the companies completed an independent evaluation of the safety and security features within Caseware AiDA, the organizations AI digital assistant, performed via the Holistic AI Governance Platform. Launched in May 2024, AiDA is a state-of-the-art AI-powered digital assistant for the accounting, audit and finance professions.

Government 52

Government accounting and finance audit Finance 52

CPA Practice

NOVEMBER 13, 2024

The report explores the use, implementation and governance of GenAI within organizations and internal audit functions. Internal audit is well-positioned to provide supporting advisory services on AI adoption, governance, and controls. The time to seize this unique opportunity is here.

audit 111

audit auditor Government 111

CTP

OCTOBER 28, 2024

By managing the gifting process, you can effectively mitigate taxes Family Governance & Education Ideally, the family will have a family governance document that establishes what the family’s guiding values are and what they want to see happen for younger generations.

Tax 105

Tax Government Real Estate payroll tax 105

RogerRossmeisl

SEPTEMBER 9, 2024

Governing documents A partnership is governed by a partnership agreement, which specifies the rights and obligations of the entity and its partners. Similarly, an LLC is governed by an operating agreement, which specifies the rights and obligations of the entity and its members. Partnership tax basics The tax numbers of a.

income tax 238

income tax Government CPA Tax 238

CPA Practice

NOVEMBER 7, 2024

The IRS received an unmodified (clean) opinion on its financial statements for the 25th consecutive year from the Government Accountability Office. This prestigious award, presented by AGA, an association that connects and empowers financial-related professionals who support government, is for the IRS’s FY 2023 Agency Financial Report.

accounting principles 115

accounting principles financial statements Government Tax 115

SMBAccountant

SEPTEMBER 9, 2022

by Chris Poponak – SMB Government Compliance Analyst. In order to enhance the competitiveness of women-owned small businesses (WOSB,) the federal government has enacted the Women-Owned Small Business Federal Contracting Program. These three sectors account for 47% of total industry employment by women-owned businesses.”

Government 49

Government Account accountant accounted 49

RogerRossmeisl

SEPTEMBER 4, 2023

government. The government can often trace money from these illegal activities through payments reported on Forms 8300 that are timely filed, complete and accurate. Businesses that receive more than $10,000 in cash must report transactions to the U.S.

CPA 278

CPA Government Finance Tax 278

TaxConnex

FEBRUARY 13, 2025

Sales tax exemption forms are issued by the Navajo Nation Council, the governing legislative body of the Navajo Nation, not by the Office of the Navajo Tax Commission. The Navajo Nation has a sales tax of 6% for all retail sales within The Navajo Nation. Quarterly sales tax returns are due 45 days after the end of each calendar quarter.

Sales 213

Sales Tax Wisconsin Oklahoma 213

CPA Practice

OCTOBER 31, 2024

At the end of the day, independent retailers are the entities responsible for administering sales taxes imposed by state governments,” Pam Knudsen, senior director of compliance services at Avalara, said in a statement. The survey, which was conducted from Oct.

Sales 116

Sales Tax accounting and finance bookkeeping 116

CPA Practice

NOVEMBER 15, 2024

Designed to offer businesses a comprehensive resource for AI strategy, implementation, engineering, adoption and governance, the website will serve as a hub for thought leadership, insights, blogs, webinars and resources for navigating the rapidly evolving AI landscape. “At

Government 105

Government public accounting accounting firms Account 105

ThomsonReuters

NOVEMBER 25, 2024

In 2025, the European Union’s Corporate Sustainability Reporting Directive (CSRD) goes into effect—legislation that includes a long list of compulsory disclosure requirements related to corporate governance and sustainability. What is ESG due diligence?

Government 99

Government Non-Profits Legal California 99

RogerRossmeisl

JULY 13, 2022

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. This doesn’t mean you pay 85% of your benefits back to the federal government in taxes. The taxation of Social Security benefits depends on your other income.

Tax 243

Tax CPA Government 243

RogerRossmeisl

DECEMBER 17, 2021

Some of this money is taxed by the federal government, and perhaps state governments. For example, a person could receive compensatory and punitive damage payments for personal injury, discrimination or harassment. Hopefully, you’ll never need to know how payments for personal injuries are taxed.

Tax 242

Tax CPA Government Account 242

CPA Practice

FEBRUARY 24, 2025

He proposed eliminating about 740 state jobs, while adding staff to other agencies in need of more people, such as the Department of Corrections.

Florida 110

Florida Government audit income tax 110

Withum

JANUARY 30, 2025

AICPA Audits are for the audit of private companies, not-for-profit organizations, and smaller government entities. These audits are governed by Generally Accepted Auditing Standards (GAAS) and focus on the accuracy of financial statements. PCAOB Audits are required for publicly traded companies and entities registered with the SEC.

audit 100

audit financial statements auditor accounting principles 100

RogerRossmeisl

APRIL 30, 2024

According to the Treasury, the US government has provided auto dealers with >$580 million in advance payments for consumer electric vehicle (EV) tax credits since 1/1/2024.

Tax 257

Tax tax return CPA Government 257

TaxConnex

JULY 20, 2021

Home rule jurisdictions are granted the authority by certain states’ constitutions to pass laws to self-govern. Alabama on the other hand, has a unified tax base, meaning localities cannot make their own choices about what to tax and what to exempt, but many local governments handle their own tax administration.

Sales 245

Sales Alaska Louisiana Alabama 245

TaxConnex

JANUARY 2, 2024

Sales and use taxes collected on behalf of the government are considered government funds upon collection. You could be at risk for heavy penalty and fees depending on your sales tax exposure. How do you estimate your exposure, how do you rectify it and move forward to compliance?

Sales 264

Sales Tax financial statements audit 264

RogerRossmeisl

OCTOBER 24, 2023

If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled.

accountant 264

accountant Account accounted CPA 264

RogerRossmeisl

SEPTEMBER 18, 2023

permits a plan sponsor to amend its 401(k), 403(b) or government 457(b) plan to offer emergency savings accounts that are connected to the plan. This will be done through what the law calls “pension-linked emergency savings accounts.” Effective for plan years beginning January 1, 2024, SECURE 2.0

CPA 264

CPA Tax Government accountant 264

RogerRossmeisl

JANUARY 14, 2024

Starting in 2024 newly formed, corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the U.S.

CPA 262

CPA Start-ups Government Tax 262

TaxConnex

AUGUST 20, 2024

In some states, the contractor may purchase tangible personal property exempt from sales and use tax when the contract is directly with a government agency or nonprofit exempt organization. This pass-through exemption typically flows down to subcontractors as well. The form of documentation varies by state.

Sales 264

Sales Tax Construction Education 264

ThomsonReuters

DECEMBER 10, 2024

The legal landscape remains uncertain, as the government is expected to appeal the ruling, which could lead to a reinstatement of the requirements on short notice. Should the injunctions scope be limited or the governments appeal succeed, companies could be required to file beneficial ownership information with little warning.

Tax 98

Tax accountant Account accounted 98

Xero

DECEMBER 10, 2024

With the Malaysian government’s push towards a digital economy, small and medium enterprises (SMEs) must adapt to new requirements. The National E-invoicing Initiative is a government-led project designed to implement a nationwide electronic invoicing (e-invoicing) system. What is the National E-invoicing Initiative?

accounting and finance 92

accounting and finance Finance Government Legal 92

Acterys

FEBRUARY 19, 2025

Apart from severe performance and governance problems no responsible IT administrator would enable access to operational tables for ungoverned write-back purposes. Best-of-Breed Data Governance: Acterys ensures that your data management processes are secure, efficient, and compliant with industry standards.

Technology 100

Technology Government audit quickbooks 100

SMBAccountant

AUGUST 30, 2021

When applying for government contracts, it’s important to understand the types of contract options that are available to you. Fixed-Price Contracts The majority of Small Business Innovation Research (SBIR) Phase I contracts issued by the government are Firm Fixed Price (FFP). The contractor bears all the cost risks in this scenario.

Government 246

Government audit Account accountant 246

RogerRossmeisl

JULY 13, 2021

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child tax credits changed?

Tax 246

Tax CPA Government 246

RogerRossmeisl

AUGUST 3, 2021

In this scheme, a criminal calls, emails or texts potential victims and pretends to be working for the Veterans Administration or another government agency. Beware of imposters The greatest fraud threat to this group is “imposter” fraud.

CPA 246

CPA Government accounted Account 246

RogerRossmeisl

SEPTEMBER 19, 2022

Receiving a tax refund essentially means you’re giving the government an interest-free loan. You might want to change your withholding so that this doesn’t happen again next year. You might even want to adjust your withholding if you got a big refund. The IRS has a withholding calculator to assist you in conducting a paycheck checkup.

income tax 246

income tax Tax tax return CPA 246

RogerRossmeisl

NOVEMBER 12, 2021

Recently, intellectual property theft by foreign governments and organized crime gangs has grabbed headlines — for good reason. Corporate espionage has long been a threat for U.S. According to the U.S. Justice Department, 80% of its economic espionage prosecutions target schemes that would benefit China.

CPA 49

CPA Government 49

RogerRossmeisl

AUGUST 4, 2023

You may be attracted to a country by a plentiful labor supply, significant tax benefits or government incentives. It can also provide them with access to new markets and potentially higher profits. But, beware: Some foreign business environments present serious fraud risks.

CPA 245

CPA Government Tax 245

RogerRossmeisl

MAY 16, 2022

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021).

Entertainment 245

Entertainment CPA Tax Government 245

RogerRossmeisl

JANUARY 11, 2022

Examples of potentially relevant subsequent events are: An offer to purchase the business, A bankruptcy filing, The emergence of new technology or government regulations, A natural. The post When Subsequent Events Count appeared first on Roger Rossmeisl, CPA.

CPA 245

CPA Government Technology accounted 245