Rsfitness22

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So far Rsfitness22 has created 18 blog entries.

The Impact of AI on Accounting

AI could make the accounting profession more appealing via technology and innovation. Some accountants worry that AI will replace them, but the real opportunity is that accountants who know how to leverage AI software may someday replace those who don’t, observes Jeff Dernavich, VP of product at LeaseQuery. Unless you’re truly living off the grid, [...]

The Impact of AI on Accounting2023-06-20T10:56:32-04:00

Accounting Firms are Facing a Significant Staffing Shortage.

No one wants to be an accountant anymore, but a program aimed at high schoolers looks to fix the shortage Accounting firms are facing a significant staffing shortage. Between the long hours, stressful deadlines, and unflattering stereotypes, more people are quitting the profession then going into it. Instead, students straight out of college are choosing [...]

Accounting Firms are Facing a Significant Staffing Shortage.2023-06-20T09:32:27-04:00

IRS Completes Automatic Corrections of Tax Year 2020 Accounts Related to Unemployment Compensation

IR-2023-02, January 6, 2023 WASHINGTON — The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020. The American Rescue Plan Act of 2021, which became law in March 2021, excluded up to $10,200 in 2020 unemployment compensation from [...]

IRS Completes Automatic Corrections of Tax Year 2020 Accounts Related to Unemployment Compensation2023-03-24T18:36:56-04:00

Ohio’s COVID-19 Tax Relief

Ohio’s Filing and Payment Extensions While certain deadlines were extended for tax returns and payments due in 2020, currently only the tax year 2020 Ohio individual income tax and school district income tax due dates have changed for returns (IT1040 and SD 100) and payments due in 2021.  Please see our due dates table for more information. [...]

Ohio’s COVID-19 Tax Relief2021-07-04T18:03:26-04:00

Student loan payments will resume soon. Here’s what you should do now

Come this fall, borrowers will again have to make room in their lives and budgets for monthly student loan payments. It’s been a good run. The U.S. Department of Education first gave borrowers the option of pausing their bills without interest accruing in March 2020. (Most federal student loan borrowers accepted that offer.) Many borrowers [...]

Student loan payments will resume soon. Here’s what you should do now2021-06-21T14:28:20-04:00

Governor To Lift Most Health Restrictions

In a move that will surely benefit the restaurant, hospitality and entertainment industries, Ohio Governor Mike DeWine has announced that most COVID health restrictions, including social distancing, capacity restrictions and the mask mandate, will be lifted as of June 2. The exception will be for nursing homes and assisted living facilities. The Ohio Restaurant Association (ORA) almost immediately [...]

Governor To Lift Most Health Restrictions2021-06-07T18:08:49-04:00

House passes OSCPA-supported muni tax bills

The Ohio House on May 26 approved two OSCPA-supported bills that would make needed adjustments to municipal tax collection. The first – House Bill 157 – would address employer withholding changes made in response to the pandemic. The bill allows employers to continue (but does not require) withholding municipal income taxes based on where the employer is located through the end of 2021 but beginning in 2022 the normal [...]

House passes OSCPA-supported muni tax bills2021-05-28T11:55:49-04:00

AICPA & CIMA Issue New Nonauthoritative Guidance for Auditing Digital Assets

AICPA & CIMA issued nonauthoritative guidance for auditing digital assets such as cryptoassets in the areas of risk assessment, processes and controls, laws and regulations, and related parties. The guidance was added to the free practice aid Accounting for and Auditing of Digital Assets. The AICPA created the practice aid in December 2019 with nonauthoritative guidance on [...]

AICPA & CIMA Issue New Nonauthoritative Guidance for Auditing Digital Assets2021-05-28T11:47:55-04:00

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