Taxes December 31, 2024
Harnessing Data for Better Tax Projections
Accurate projections aren’t just about staying compliant with the law. They’re about giving clients the confidence to make smarter decisions.
Small Business December 27, 2024
The Top Tax & Accounting News Stories of 2024
2024 saw major news events and ongoing trends that are significantly shaping the profession, including how professionals practice, how firms operate, and your business and individual clients.
Accounting December 24, 2024
BOI Reporting Injunction Lifted; FinCEN Extends Deadline to Jan. 13
FinCEN has extended the Jan. 1, 2025, deadline for most reporting companies to file beneficial ownership information reports with the Treasury Department until Jan. 13, 2025, after a federal court of appeals lifted an injunction on Dec. 23 that had halted the new law.
Taxes December 22, 2024
IRS to Issue Special Payments to 1 Million Taxpayers
The Internal Revenue Service has announced plans to issue automatic payments later this month to eligible people who did not claim the Recovery Rebate Credit on their 2021 tax returns.
Accounting December 21, 2024
Congress Avoids Government Shutdown: Bill Includes Farm Aid, Disaster Funds
The Senate cleared a stopgap funding extension early Saturday shortly after a midnight deadline, staving off a partial government shutdown and ending days of gridlock over a package whose contents seemed to change by the hour.
Financial Reporting December 19, 2024
AICPA Releases Statement Expressing Optimism of Possible Delay for BOI Reporting
Following the release of language in the proposed continuing resolution relating to the beneficial ownership information reporting requirement, the American Institute of CPAs (AICPA) released the following statement.
Small Business December 13, 2024
5 Ways to Help Clients Prepare for Busy Season
Timely and effective communication is key to helping create a path to busy season success for both you and the client. Here are five ways to help your clients prepare.
Small Business December 12, 2024
Every Season is Tax Season for Small Businesses. Better Financial Tools Can Reduce the Burden
According to SCORE, 82% of small businesses fail due to issues managing cash flow. If money has not been set aside for taxes, an unexpected rise in expenses can cause their business to fail. As a result, personal savings can be wiped out, and those with small business loans can go into debt.
State and Local Taxes December 10, 2024
Avalara Recognized as a Leader in Three IDC MarketScape Reports on Worldwide Tax Automation
Avalara has been named a Leader in three IDC MarketScape reports covering tax automation solutions for SMB, Enterprise, and VAT.
Taxes December 10, 2024
IRS: $53 Million in TCE and VITA Grants Awarded for 2025
The agency awarded grants to 41 Tax Counseling for the Elderly and 315 Volunteer Income Tax Assistance applicants.
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Taxes March 28, 2024
Dividing a 401(k) in Divorce
Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.
November 29, 2023
Your Firm and Your AI: How AI Can Help with Tax Season
While many pundits in the profession claim that tax returns (read compliance) are going away, I don't think that will be true anytime soon.