CPA Practice

SEPTEMBER 9, 2024

As a general rule, taxpayers should make estimated tax payments if they expect: To owe at least $1,000 in taxes for 2024 after subtracting their withholding and tax credits. Late and skipped estimated tax payments can incur penalties even if a refund is due when a tax return is filed.

West Virginia 95

West Virginia South Dakota South Carolina Tax 95

CPA Practice

MAY 8, 2023

IRS migration data was gathered using federal tax returns filed in 2020 and 2021 on which taxpayers indicated that they moved (between 2019 and 2020) from one state to another. Californians flee to low-tax states In terms of people looking for low-tax states, California lost more residents than any other state, according to the data.

New York 125

New York California North Carolina South Carolina 125

CPA Practice

OCTOBER 7, 2024

3 that was attended by members from the Georgia Society of CPAs, North Carolina Association of CPAs, South Carolina Association of CPAs, Tennessee Society of CPAs, and the Virginia Society of CPAs on disaster recovery. The webpage features an infographic on the process to qualify a natural disaster for tax relief.

North Carolina 52

North Carolina South Carolina Tennessee Georgia 52

Snyder

JUNE 9, 2022

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

income tax 52

income tax tax return E-commerce Tax 52

CPA Practice

OCTOBER 4, 2024

For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin. It guides taxpayers through a series of questions to prepare their federal tax return step-by-step.

Alaska 126

Alaska South Dakota North Carolina tax return 126

CPA Practice

SEPTEMBER 23, 2024

Starting in January, residents of Maryland and North Carolina will be able to file their state taxes online for free using Code for America’s FileYourStateTaxes tool. Integrated with the IRS’s Direct File program, it expands on the federal service, which currently only offers no-cost filing for federal returns.

North Carolina 59

North Carolina Maryland Tax Technology 59

CPA Practice

SEPTEMBER 28, 2023

A federal jury sitting in Atlanta has convicted Jack Fisher and James Sinnott of conspiracy to defraud the United States, conspiracy to commit wire fraud, aiding and assisting the filing of false tax returns and subscribing to false tax returns. King for the Western District of North Carolina for her office’s assistance.

North Carolina 110

North Carolina Georgia tax return Tax 110

Cherry Bekaert

OCTOBER 10, 2023

For tax year 2022, the Iowa PTE Tax election must be made after January 2, 2024, or the due date for filing the taxpayer’s 2022 IA 1065 or 2022 IA 1120S return, including extensions. North Carolina On October 3, 2023, House Bill 259 (Session Law 2023-134) , North Carolina’s 2023 budget bill, was enacted.

Iowa 104

Iowa North Carolina Virginia Tax 104

TaxConnex

SEPTEMBER 7, 2023

Location, location, location 501(c)(3) organizations are exempt from sales tax on their purchases in Colorado and in Utah. Sometimes nonprofits and not-for-profits must pay sales tax when they buy items, at least initially, as in North Carolina. But as always with sales tax, rules vary state to state.

Sales 147

Sales Tax Non-Profits North Carolina 147

CPA Practice

SEPTEMBER 17, 2024

LaDonna Keener, CPA has been a Certified Public Accountant licensed in the state of North Carolina since 1997. As a CPA, John has considerable experience in public and private accounting for the technology industry. For more information, visit www.drakesoftware.com.

Tax 105

Tax North Carolina Indiana Illinois 105

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

APRIL 7, 2023

The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.

tax preparation 132

tax preparation Tax tax return income tax 132

CPA Practice

AUGUST 23, 2023

“We asked ourselves why some corporations pay more taxes and some pay less,” said Jaron Wilde, associate professor of accounting. Wilde’s team analyzed more than 94,000 tax returns of U.S. businesses with at least $10 million in assets that used an external tax preparer between 2005 and 2016.

business tax 98

business tax Tax North Carolina tax preparation 98

TaxConnex

JUNE 1, 2023

A few of them: your company doesn’t have nexus in a state or jurisdiction anymore and you don’t expect to have it again soon; the state has enacted marketplace facilitator laws and now the marketplace is responsible for collecting and remitting the sales tax; your business is passing to new ownership. And do you always want to do it?

Sales 130

Sales Tax New Jersey North Carolina 130

CPA Practice

MAY 16, 2023

For any charitable contribution of property exceeding $500, you must include with your tax return for the year the deduction is claimed a description of the property contributed.

North Carolina 122

North Carolina tax return Tax income tax 122

CPA Practice

JANUARY 9, 2024

Combining with CH&B will provide us with the opportunity to work together to grow our firm and our service offerings in North Carolina and beyond,” Citrin Cooperman Executive Chairman Joel Cooperman and CEO Alan Badey said in a joint statement. “We

North Carolina 59

North Carolina tax return New York tax planning 59

Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia.

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

TaxConnex

AUGUST 4, 2022

Most states with economic nexus laws also employ marketplace facilitator laws (it is best to consult with a sales tax expert or CPA to find the most updated laws). Recently Hawaii, Texas, Wisconsin, Illinois, Michigan, Iowa, Louisiana and North Carolina added laws. returns for direct sales and indirect sales.?.

Wisconsin 130

Wisconsin North Carolina Michigan Hawaii 130

PANALITIX

DECEMBER 3, 2020

Specifically, they want to work with clients who VALUE their skills and insights, rather than ‘checking tax returns’. In the words of the founder of a North Carolina-based 12-person accounting firm, “Changing my mindset was the first important step I took in reforming my business. Carve out time for things you enjoy.

accountant 231

accountant Account accounted North Carolina 231

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 15, 2024

Along came the devastation of Hurricane Helene and the appropriate extensions granted in seven jurisdictions, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, plus parts of Florida, Tennessee, and Virginia. And wait again! Clients are ready.

South Carolina 52

South Carolina North Carolina Florida tax return 52

Going Concern

SEPTEMBER 25, 2023

Attorney’s Office, Western District of North Carolina ] A federal grand jury in Charlotte has indicted Mandy Deann Urban, 47, formerly of Charlotte, with wire fraud, for allegedly embezzling more than $1.1 Attorney for the Western District of North Carolina. million from her employer, announced Dena J.

tax preparation 105

tax preparation Gambling accountant Account 105

CPA Practice

MAY 7, 2023

The tax savings opportunity is not available to sole proprietorships or single member LLCs who are disregarded entities. Most businesses that file a tax return separate from inclusion in an individual return are eligible. Considering the corresponding regulations that come in to play, what is the practical application?

Real Estate 110

Real Estate Tax North Carolina cpas 110

TaxConnex

JULY 15, 2021

percent sales tax created three years ago to address a budget crisis, has been sent to the governor for executive approval. Maryland is offering a vendor credit of up to $3,000 on sales tax returns for the months of March, April and May 2021. North Carolina revenue collections for the year ending June 30 will be $1.9

Sales 153

Sales Tax Louisiana North Carolina 153

ThomsonReuters

DECEMBER 7, 2022

To help accounting professionals, especially those entering the profession, this article will explore how fiduciary income tax is different from estate tax, who files a fiduciary tax return, what defines estates and trusts, and more. What is fiduciary tax? Who files a fiduciary tax return?

Tax 59

Tax North Carolina income tax tax return 59

PANALITIX

NOVEMBER 30, 2020

Specifically, they want to work with clients who VALUE their skills and insights, rather than ‘checking tax returns’. In the words of the founder of a North Carolina-based 12-person accounting firm, “Changing my mindset was the first important step I took in reforming my business. Carve out time for things you enjoy.

accountant 130

accountant Account accounted North Carolina 130

CPA Practice

AUGUST 15, 2023

Jared is a popular speaker and advisor due to his expansive knowledge of current tax policies, cybersecurity, and industry trends. Ann Campbell , CPA CIA, joined Drake Software in 2021 as a Tax Software Trainer.

Tax 52

Tax North Carolina Indiana CPA 52

CPA Practice

SEPTEMBER 17, 2024

Since joining the firm in 2021, Brianna has excelled in accounting, auditing, compliance, financial statement preparation, tax return preparation, and special projects. Nathan, who joined the firm in 2022, has shown outstanding proficiency in accounting, compliance, tax return preparation, business valuations, and special projects.

Construction 52

Construction Illinois audit Real Estate 52

CTP

FEBRUARY 29, 2024

Gambling losses are not deductible in Connecticut or North Carolina. Even if no federal income tax is due, gambling outside one’s native state can trigger tax filing requirements in that state. Your clients can also consult a tax attorney if they are new to professional gambling and unsure how to proceed.

Gambling 105

Gambling Tax accountant Account 105

xendoo

JANUARY 16, 2023

The IRS taxes corporations as separate legal entities, which opens them up to double taxation. The IRS then taxes them at the corporate income tax rate. Shareholders still must file their personal income tax returns and report the corporate dividends and capital gains they get as part of their taxable income.

business tax 52

business tax Tax income tax payroll tax 52

Going Concern

SEPTEMBER 22, 2023

Tax ERC abuse brings renewed push for regulation of paid tax preparers [ Journal of Accountancy ] buse of the employee retention credit (ERC) by aggressive promoters who make questionable promises has pushed Treasury to renew the call for the regulation of paid tax return preparers, an action that has the AICPA’s support.

audit 109

audit accounting and finance Virginia auditor 109

inDinero Tax Tips

APRIL 11, 2023

The Delaware franchise tax A franchise tax is a state charge on corporations to conduct business in their state. Other states that have a franchise tax include Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma.

Delaware 52

Delaware Nevada Sales Tax 52

inDinero Tax Tips

APRIL 20, 2021

A franchise tax is a charge by states on corporations to conduct business in their state. Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax. The amount of franchise tax and how each state calculates the tax varies.

Delaware 64

Delaware Wyoming Nevada Oregon 64

Going Concern

JUNE 23, 2023

North Carolina CFO Sentenced to 18 Months in Prison in Multi-Million Tax Fraud Case [ U.S. Attorney’s Office, Eastern District of North Carolina ] Christopher Scott Harrison, 56, of Fayetteville, N.C., In addition to his prison sentence, Harrison was ordered to pay more than $4.6

cpa firm 106

cpa firm CPA auditor North Carolina 106

ThomsonReuters

MARCH 15, 2021

The IRS has posted a final version of the 2021 Form 941 , Employer’s Quarterly Federal Tax Return and its instructions that take into account the COVID-19 tax credit extensions provided for in the Consolidated Appropriations Act, 2021. Legislation introduced to keep unemployment tax rate increases. 2021 Form 941.

payroll 98

payroll Connecticut Massachusetts income tax 98

Going Concern

NOVEMBER 10, 2023

Mississippi Return Preparers Found Guilty of Tax Fraud [ Department of Justice ] A federal jury in Jackson, Mississippi, convicted Adam Earnest, Christopher Randell and James Klish yesterday of conspiracy to defraud the United States. Earnest and Randell were separately convicted of individual counts of preparing false tax returns.

audit 123

audit accounting and finance auditor Mississippi 123