CPA Practice

FEBRUARY 3, 2023

(TNS) A Columbus, GA-based tax preparer has pleaded guilty in federal court to charges that she submitted false claims for tax credits for her clients and also failed to pay her own personal taxes. She also failed to file her own tax returns during that time period. District Judge Clay Land. Attorney Peter D.

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CTP

APRIL 29, 2022

One of the many benefits of working with a tax professional is the guidance they provide in developing tax return positions that substantiate why certain income qualifies for tax-exemption or why you are eligible for a certain tax deduction. This is actually a lower standard than some may assume.

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Withum

FEBRUARY 6, 2023

It’s that time of year – welcome to your tax season activities. Struggling With Tax Compliance and Data Management? Inter-company and Transfer Pricing Transactions ; distinguishing entries between related entities or groups for proper reporting on consolidated tax returns. Contact Us Good News!

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks. What is income tax preparation service?

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CTP

NOVEMBER 15, 2023

Do you feel that you pay too much in tax? The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. You’re not alone.

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CPA Practice

AUGUST 14, 2024

A newly updated Written Information Security Plan (WISP) is now available from the IRS, designed to help protect tax professionals against continuing threats from identity thieves and data breaches. 13 as part of their “Protect Your Clients; Protect Yourself” security campaign for tax professionals.

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CPA Practice

FEBRUARY 17, 2023

Tax season is always stressful. Hurried filers inundate tax preparers working furiously to help their clients file on time while the dreaded tax deadline looms. However, it’s important to pause and reflect on your data privacy standards, digital communication norms, and potential vulnerabilities this tax season.

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MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

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CPA Practice

APRIL 9, 2024

But when it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS warns. Social media—things like Facebook, Instagram and TikTok—can be used to circulate “wildly inaccurate tax advice,” the agency said. There are two other variations of the W-2 scheme.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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MyIRSRelief

FEBRUARY 1, 2023

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws.

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ThomsonReuters

APRIL 17, 2024

The emergence of g enerative artificial intelligence ( GenAI ) has sparked both excitement and apprehension in the tax industry, with professionals divided on its potential impact. The report highlights these contrasting perceptions, shedding light on the complex relationship between tax professionals and this emerging technology.

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CPA Practice

DECEMBER 13, 2023

Tax season can be exhilarating for its intensity but stressful if your firm has all its balls in one court. Diversifying with tax-adjacent advisory services can add value to your existing clients, build recurring revenue streams and increase the likelihood of your tax clients returning next season. By Alex Loewenstein.

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CPA Practice

JULY 27, 2023

Five alumni of Auburn University who teamed together to create the software development company SmartWiz have been awarded $150,000 in developmental funds by Google to advance and distribute their tax accounting software.

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ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

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MyIRSRelief

OCTOBER 2, 2023

You don’t have a lot of money to spend on accounting and tax services. The truth is, accounting, taxes and bookkeeping are essential for all businesses, regardless of size or age. To comply with tax laws. These programs can help you track your income and expenses, generate financial reports, and file your taxes.

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CPA Practice

JULY 17, 2024

Taylor, Kiplinger Consumer News Service (TNS) A class action settlement involving the popular online tax preparation service, TaxAct, is underway. This legal settlement involves users of TaxAct’s online federal tax filing service between two and six years ago. By Kelley R. The total settlement amount is about $14.95

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LyfeAccounting

JUNE 7, 2021

We have 10 tips on how you can avoid paying taxes. Because for most people, paying taxes is such a drag, annoying, frustrating… So today, we want to talk about how to avoid taxes and give you 10 legit and legal ways to do so. But even then, taxes aren’t a big deal. 10 Tips On How To Avoid Paying Taxes.

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CPA Practice

OCTOBER 4, 2024

However, offshoring also comes with challenges and risks, especially regarding IT security and tax compliance. An Outline of IRS Guidelines for Offshoring Accounting Staff Firms must consider tax compliance when offshoring accounting staff. This helps avoid legal issues and ensures compliance with local regulations.

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CPA Practice

OCTOBER 1, 2024

Coming on the heels of its acquisition of Cendrowski Corporate Advisors a couple of weeks ago, private equity backed tax and accounting firm Prosperity Partners said on Oct. 1 that it has acquired Wiener and Garg, a Rockville MD-based tax preparation, planning, advisory, and accounting firm.

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CPA Practice

JUNE 24, 2024

Tax Preparation Checklist: A comprehensive list of documents and information needed from clients for tax preparation, such as income statements, expense receipts, and previous tax returns. Year-End Tax Planning Checklist: A tool for clients to prepare for year-end tax considerations and planning strategies.

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CTP

MARCH 9, 2022

Visit social media or google these days and you’ll most likely see advertisements for Tax Planning. But many taxpayers (and even tax pros) are confused about the differences between tax planning and tax preparation. Why is it impossible to do tax planning at the same time as you prepare a tax return?

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CPA Practice

JANUARY 17, 2024

By Sam Becker, Fast Company (TNS) Who says tax preparation has to be boring? H&R Block’s website does show that its “Deluxe” tax filing option is advertised for $35 (plus $37 for state filing), which includes “help from a live expert” and AI Tax Assist. The lawsuit, filed on Jan. The lawsuit, filed on Jan.

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CPA Practice

MARCH 19, 2024

Major milestones like getting married, having a child, or buying a new home are exciting events to look forward to in life, but they may also have tax implications that must be prepared for to mitigate tax surprises. It’s important to note that the latter option may come with sacrificing certain tax advantages.

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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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CPA Practice

APRIL 11, 2024

McGarry, InsideSources.com (TNS) Tax Day looms, and the taxman cometh. This year, the IRS has launched a pilot program dubbed “Direct File” through which Americans can opt to have the IRS prepare their taxes for free (well, except for the billions of taxpayer dollars used to create the program). By David B.

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inDinero Accounting

OCTOBER 17, 2024

For small business owners and startup founders, navigating the complex world of tax deductions can feel like traversing a financial minefield. As we delve into the specifics, remember that tax laws are as dynamic as the business world itself. Table of Contents What Is a Small Business Tax Deduction and How Does It Work?

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Shay CPA

FEBRUARY 28, 2024

Don’t shoot the messenger: it’s time to do your taxes. Very few founders enjoy doing their taxes. If that sounds good, follow these steps to get your books ready for your 2024 tax filings. #1: While you’re putting some energy into gathering up the documents you need, grab a copy of your 2022 tax returns. for 2024.

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ThomsonReuters

JUNE 6, 2024

The 2024 Generative AI in Professional Services Report from the Thomson Reuters Institute offers insight on GenAI perceptions and usage based on responses from nearly 1,200 professionals from across various industries, including the tax and accounting profession. Let’s take a look.

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LyfeAccounting

MAY 21, 2021

What if we told you that every year LLC owners overpay on their taxes. Some fail to tax plan but most simply miss out on the biggest tax write offs for LLC businesses. So keep on reading, because today, we’re going to reveal the biggest tax write offs for LLC businesses that you can take advantage of. That’s right!

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xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . What is a tax deduction?

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ThomsonReuters

SEPTEMBER 7, 2023

Jump to: Child and dependent care credit FAQs What is kiddie tax? What is the adoption tax credit? Claiming children on taxes Choosing the best tax preparation software As all working parents know, the cost of child and dependent care can be a significant financial burden.

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CPA Practice

AUGUST 15, 2023

Plus, by adding RA services to your CPA firm, you’ll become your clients’ one-stop solution for their business needs, including accounting, tax, and compliance services. This includes documents, such as official federal and state correspondence, subpoenas, tax notices, legal notifications, court summonses, and corporate filing notifications.

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? With less than a week left before the federal tax filing deadline, Doug Blattman is in panic mode.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . The IRS announced a plan to increase audits for small businesses by 50% for the 2020 tax year. Check out these blogs: Year-End, Capital Gains Tax and Iffy Choices.

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ThomsonReuters

JUNE 15, 2022

The foundation of a successful tax practice rests on the technical knowledge of your people. While you can create a modern firm with automated processes and expansive service offerings, your clients won’t keep coming back if your team isn’t up to speed with the most recent tax law changes. When do tax law changes take effect?

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Going Concern

OCTOBER 3, 2024

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs.

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