Minimum price markups may not be a taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. , but the experience for consumers is the same. A last-minute provision added to Pennsylvania bill HB 1300...Read More

Employers can withdraw their pandemic-era employee-retention tax credit claims. The IRS announced that employers who have not received refunds or cashed checks for employee-retention tax credits can withdraw those claims without any penalty or interest, even if the employer is already an audit related to claiming the credit. An IRS website offers instructions on how...Read More

Taxes are part of almost everything we do in life. There are, however, ways to save on your taxes through life’s transitions.  Here are 12 tax tips to help you save through major life events: Education Deduct your tuition. Education expenses may be tax deductible if they maintain or improve skills required in your employment....Read More

Amortization schedules, bonds payable, bond calculation methods, and more. Jump to: Do you have clients looking to issue bonds? Bonds are generally thought to be lower risk than stocks, which makes them a popular choice among many investors. And for companies issuing a bond, bond amortization can prove to be considerably beneficial. A bond, which...Read More

Software failure getty Technology projects often end in disappointment, and in some cases, they lead to significant financial losses for the companies that undertake them. The statistics are grim: according to Gartner, between 55% and 75% of ERP projects end in failure, and McKinsey reports that 70% of digital transformation initiatives fall short of their...Read More

Note: Each year we review and improve the methodology of the Index. For that reason, prior editions are not comparable to the results in this 2023 edition. All data and methodological notes are accessible in our GitHub repository. Below is an abbreviated version of the 2023 Index. To access the full report, click the download...Read More

US DOJ to SCOTUS: Uphold the “repatriation” tax. In a 96-page brief, the US Department of Justice (DOJ) urged the US Supreme Court to reject the challenge to the Tax Cuts and Jobs Act transition tax, which was imposed on undistributed profits accrued by US-controlled foreign corporations between 1986 and the end of 2017. DOJ...Read More

The tax year 2022 tax extension filing deadline was October 16th, and while some of you may have scrambled to make the tax deadline, a few of you may have missed it and are wondering what to do. It’s also possible that your state may have an additional extension, and you may have a little...Read More

Capitalize on advisory opportunities with your 1040s Jump to: Is the success of your accounting firm built on a 1040 client base? Are you interested in expanding into advisory services? While many accountants don’t think there is room for both, there is — and here’s how.   Consider this: Individual taxation impacts the day-to-day lives of...Read More

The IRS is introducing a direct e-file pilot service in 2024. getty Earlier this year, the IRS got folks talking when it announced it was launching a pilot program for a free direct online tax filing service. Today, the IRS has confirmed that the program is moving forward for the 2024 filing season. Background As...Read More