7 More States Considering New Surtaxes on Their Wealthiest Residents
Steel Rose
The “Millionaire” Tax in Massachusetts went into effect on January 1, and less than a month into the New Year, in what is being called a coordinated effort, legislatures from seven more states are quick on their heels and planning to introduce similar legislation to increase taxes on their wealthiest...
MORECryptocurrency Taxes: Beware Of Crypto Losses And The IRS's Position
Following the demise of the cryptocurrency exchange platform FTX, many taxpayers are studying how they can harvest tax losses associated with…
CPA's Challenging Environment for Tax Season & Technology
Professional accountants continued to deal with practice-related, economic, social, and tax law changes resulting from the global pandemic during the…
CPA Guilty of Conspiring to Promote Fraudulent Tax Shelter Scheme
Helped Obtain Fraudulent Syndicated Conservation Easement Tax Breaks for High-Income Earners A Florida CPA pleaded guilty in the District of New…
An Industry Spotlight on Philanthropy: Uniting the Accounting Profession Together as ONE to END ALZ
The Alzheimer’s Association Accounting Industry Leadership Council (hereinafter the “Council”) was established in January of 2020, immediately before the COVID-19…
Key Tax Moves for 2023
Consider ways to help reduce taxes on your income and investments by acting now. Wider tax brackets, a higher standard deduction…
The Simpsons Tax Court Case: Deficiencies for Unsubstantiated Expenses & Basis In LLC
Summary: Kyle Simpson and Christen Simpson, husband and wife (the Simpsons), were equal shareholders in a wholly owned S corporation (S…
The President Trump Pass-through Deduction
section 199A — that, beginning on Jan. 1, 2018, provided an enormous 20% annual federal income tax deduction to individuals…
State of the Profession: 75% of AICPA Members Eligible for Retirement
The eighth annual 2022 NYSSCPA-Rosenberg Survey identifies trends from the national 24th Annual Practice Management Survey and provides profitability and…
IRS Challenges Pushed Tax Professionals Into ‘More Misery in 2022’ says Taxpayer Advocate
Millions of taxpayers were left in limbo as the Internal Revenue Service delayed payouts of refunds for months due to…
