Taxes January 21, 2026
Facing a potential $12 billion budget gap, New York City Mayor Zohran Mamdani indicated Jan. 21 he may push Gov. Kathy Hochul in budget negotiations to include tax hikes on millionaires and corporations.
August 2, 2022
According to SideHustle.com, 45% of Americans (70 million people) report having a side hustle. Among millennials, that number rises to 50%, while 70% of Gen Zs reported looking for a side hustle.
August 2, 2022
The state of Georgia's taxation department has announced that taxpayers can claim fertilized embryos as dependents for tax purposes.
Taxes June 30, 2022
Although Wayfair was strictly a sales tax case, states have also begun to assert economic nexus for income tax purposes. Unlike sales tax, currently only a handful of states...
Accounting June 27, 2022
The Financial Accounting Standards Board (FASB) recently decided to tackle a project that could result in new rules being created on how companies should account for environmental credits, such as renewable energy credits and carbon offset credits.
Taxes June 21, 2022
The CP14, which is required by law to be issued within 60 days after the IRS assesses a tax liability, is the most common IRS notice sent to taxpayers, according to the Taxpayer Advocate Service, and requests payment within 21 days. The reason why taxpayers have a balance due can be related to a number…
Taxes June 21, 2022
It used to be that receiving a Form 1099-K was relatively rare. The form, technically known as Form 1099-K Payment Card and Third-Party Network Transactions was used to report payments received from various third-party resources. Prior to 2022, the monetary threshold to receive a 1099-K was $20,000, with 200 sales-related transactions required. Both requirements had…
Firm Management June 21, 2022
Practice management is the heart and sole of an accounting firm, handling everything from initial client contact to managing workflow, to properly tracking hours and billing clients. When asked, here’s what respondents said were their biggest practice management challenges in 2021.
April 16, 2022
The truth is that as an accounting professional, if you’ve served agriculture, research labs, or retail operations — you already know the basics of serving a cannabis company. The biggest difference lies in the stringent reporting requirements and ...
March 24, 2022
Many different factors can affect the timing of a refund after the IRS receives a return. A manual review may be necessary when a return has errors, is incomplete or is affected by identity theft or fraud.
March 3, 2022
Will the IRS find out if you don't report your income? This is the question everyone wants to ask, but tax professionals don't want to answer because of ethical or liability concerns.
December 22, 2021
Victims of Hurricane Ida in six states now have until Feb. 15, 2022, extended from Jan. 3, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced.
September 16, 2021
Estate planning is often in the back of many people’s minds yet tends to be avoided due to the unsettling thoughts and fears regarding death. Nevertheless, estate planning is a necessity for anyone with children, a business, personal assets, or ...