Anthony Bracco

Join GBCA for an exclusive webinar to learn how to navigate the complexities of sales tax in New Jersey and Pennsylvania, as they cover key topics such as taxable transactions, exemptions, compliance requirements, and more! https://ow.ly/VTNA50TtCqH

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The NJCPA Winter Issue is out, and it's packed with must-read articles for the accounting industry! 🔍 Dive into Neil Becourtney's insightful piece on "Are Major Federal Tax Changes on the Horizon?" and stay ahead of the curve with the latest tax updates. 🌴 Considering a move to Florida? Don't miss Henry Rinder, CPA, ABV, CFE, CFF, CGMA expert advice on "Moving to Florida; Tax Considerations and Pitfalls." Essential reading for anyone planning a sunny relocation! 🏆 We're also celebrating the incredible Smolin staff; Mathew Centeno, CPA, MBA, Rory Gannon, CPA, CVA, MST, Shannon Mosier and Danielle Weiss who received a 2024 Ovation Award! Their dedication and excellence are truly inspiring. Check out the issue now and gain valuable insights that will benefit your career and business. Feel free to share your thoughts and let us know which article you found most helpful! #NJCPA #Accounting #TaxUpdates #OvationAwards #CPAFirm #Accountingnews #ProfessionalExcellence #MustRead #Smolin

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The MA Department of Revenue recently announced a tax amnesty program for non-filers and those with outstanding tax liabilities. From November 1 to December 30, most penalties for eligible taxpayers who file outstanding returns and pay outstanding tax and interest will be waived. Learn more from SCOTT CASHMAN, CFP® on the Don't Tax Yourself blog: https://lnkd.in/ezbxmB_A #Taxes #Taxpayers

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Join John D'Amico, CPA, Managing Director, CBIZ Marks Paneth, and Shareholder, Mayer Hoffman McCann P.C., at the "Governmental Accounting & Auditing Conference" by New Jersey Society of CPAs on Wednesday, July 17. This webinar takes an in-depth look at governmental accounting and auditing to help you effectively implement current and new statements from the GASB, overcome implementation issues, enact changes in single audits, comply with local government regulations and circumvent fraud in your organization. John will present during the "Single Audit Update" session to discuss the recent changes: https://okt.to/XLbuNv #singleaudit #webinar #GASB #audit

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The Pennsylvania Department of Revenue annual tax seminars are quickly approaching. These sessions are designed for tax professionals to learn the latest updates on PA taxes and other pertinent topics. Find the schedule and registration information here: revenue.pa.gov/taxseminars

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🚨 Exciting Tax News for New Jersey! 🚨 New Jersey is now joining the IRS Direct File Program for the 2025 tax season! This means eligible taxpayers can now e-file their state tax returns directly through New Jersey's new platform after completing their federal returns with Direct File. 📈 Martin D. Hauptman, Esq., CPA, Partner in the Tax, Trusts, and Estates Practice Group at Mandelbaum Barrett PC, explains how this move will streamline the filing process and enhance efficiency. Stay tuned for more updates on this innovative change! For more details, read the below tax update! #TaxSeason2025 #IRSDirectFile #NewJersey #TaxUpdates

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The PCAOB staff has posted updates to its standard-setting, research, and rulemaking agendas. The updates reflect the PCAOB’s recent progress and continued drive toward its strategic goal of modernizing its standards and rules. Agendas here: https://lnkd.in/dRq9U4_e

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Our Tax practice is pleased to share that Of Counsel, Patricia Jackson, will be part of an expert tax panel at the upcoming Nassau Conference. The panel will delve into reimagining taxation by exploring effective policy crafting. Patricia's knowledge and expertise are sure to make a significant impact on the discussion. Register today! [https://lnkd.in/eS4zp5F3] #Bahamas #financialservices #taxlaw #taxpolicies

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A recent Public Company Accounting Oversight Board (PCAOB) report provides insights into auditor independence issues found during PCAOB inspections. Learn more in this short video by Brad Muniz and Frank Boutillette. #IssuesWatch #Podcast #PCAOB #auditing #auditor #cpa

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The New York Department of Taxation and Finance has recently issued guidance clarifying the rules around amending Sales and Use Tax returns. This guidance stems from previously enacted legislation and brings Sales and Use Tax returns under similar limitations as other tax filings. Understanding these updates is crucial for businesses required to collect tax under Tax Law Article 28 (Sales and Compensating Use Taxes), especially as they take effect for filing periods beginning on or after December 1, 2024. Here’s a breakdown of the new rules and what they mean for your business. Amending Returns Under the new guidance, businesses required to collect Sales and Use Tax can amend previously filed returns, but there are important limitations to be aware of: 1. Conditions for Amending Returns: A business can amend a previously filed return only if the amendment does not reduce or eliminate a past-due tax liability related to that specific filing period. Past-due tax liability refers to any tax debt that has become final and unchangeable, where the taxpayer has no further right to administrative or judicial review. However, if the business self-reported past-due tax liability, they may amend the return to reduce or eliminate this liability within 180 days of the original due date. 2. Overpayments and Refunds: If no past-due tax liability exists, and the amended return results in an overpayment, the business can claim a credit or request a refund. This claim must be made within three years of the original tax due date or within two years of the date the tax was paid, whichever is later. 3. Department’s Right to Assess: The New York Department of Taxation and Finance retains the right to assess additional tax, penalties, and interest, including recovering a previously paid refund based on changes or corrections made on an amended return. This assessment can be made within three years after filing the amended return.   Filing a Return After Receiving a Notice of Determination The guidance also addresses situations where a business fails to file a return, and the Department issues a notice of determination of tax due: If a notice of determination is issued because a return was not filed, the business has 180 days from the mailing date of the notice to file the missing return. Important Note: Filing a late return after receiving a notice of determination does not impact any penalties or interest that have accrued due to the original failure to file on time. For more information, see our full blog below: NY Clarifies Amended Sales & Use Tax Returns | Thompson Tax Contact Thompson Tax today for all of your sales and use tax needs. We are your Trusted Tax Advisors.

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What is the upside for an auditor to identify instances of fraud? The answer might appear obvious, but hear from University of Denver's Jay Brown (also a former board member of the Public Company Accounting Oversight Board (PCAOB)) on this and more in the latest AccelPro Audit interview, On Fraud and the PCAOB. AccelPro strives to provide multiple perspectives on every topic we explore. That very much includes academics and regulators alongside auditors, clients and more. "There is really no glory in looking deeply for fraud if you're an auditor. There just isn't, because if you look too hard and you find some things, there can actually be a downside to that. But if you don't look as deeply as maybe you could, and it turns out there's a fraud later, you have a ready made answer to that, and that is, “Look, the fraud's concealed. I looked, but I can't find things that were hidden from me.”" https://lnkd.in/g_zjJQKw Interview by Jessica Stillman #audit

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Our Long Island City CPA adheres to several values to ensure our firm provides the best service to meet your needs. ✔️ Over the last 20 years, we have helped Long Island City, Midtown Manhattan, Astoria, and the surrounding communities with their financial and accounting needs. #FinancialManagement #TaxServices #PeterBurgosCPA #FinanceExpertise #AccountingServices #TaxProfessional #PayrollServices #Accounting #Payroll

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