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Four existing Montana income tax credits were updated during the 68th Montana Legislature.

MTCPA member - Rick Reisig - among the list.

In January 2021, the United State Congress enacted the Corporate Transparency Act (CTA), with a goal of detecting and reducing money laundering, fraud, and other misconduct through shell companies. As part of the legislation, almost all entities are required to file a report with details about their owners and the individuals who register the entity to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

The department has updated its wage withholding tax tables (Employer and Information Agent Guide) as well as the employee’s withholding and exemption certificate (Form MW-4) after major changes to Montana’s income tax system, including lower income tax rates.

The Montana Society of CPAs (MTCPA) is pleased to announce the second year of Accounting Opportunities Experience, a collaboration between state CPA societies and the AICPA to raise awareness of accounting career opportunities among high school students.

The very essence of AI is the removal of unnecessary busy work. The more of this you can do in your firm, the more you will be able to optimize productivity.

The Internal Revenue Service is giving people until 2026 to comply with a new requirement for Roth catch-up contributions.

In advance of the updated CPA Exam launching in January 2024, the National Association of State Boards of Accountancy has provided the chart below showing the deadlines established by each U.S. jurisdiction for applying to take the current BEC section as well as the first day applications will be accepted for new CPA Exam disciplines (BAR, ISC, TCP).

For many years, Congress has passed income tax laws designed to mitigate the so-called “marriage penalty.” The marriage penalty occurs when a married couple with similar incomes incurs a higher tax liability by filing taxes jointly than if they would by filing as two single taxpayers. Examples of such provisions by Congress to attempt to alleviate this burden include lower income tax brackets, increased alternative minimum tax (AMT) exemption amounts, and most notably a higher standard deduction for married taxpayers filing jointly.

The AICPA has formed an advisory group representing a broad spectrum of the accounting profession that will help shape a national strategy to address the profession’s talent shortage, including accounting students who go on to obtain a CPA license.

Why and how leaders can promote and foster psychological capital in the workplace through hope, efficacy, resilience and optimism. Courtesy of the Virginia Society of CPAs

As health care costs and life expectancy rates rise, CPAs should ensure their clients are preparing for the potential need for long-term care.

The death, illness or even just retirement of a practitioner can leave behind not just an untended practice but many unanswered questions and a great deal of uncertainty about consequences for clients.

With fewer and fewer individuals entering the accounting profession, Dext VP of Product Strategy Paul Lodder offers up an op-ed on how and why existing accountants need to leverage today's technology to protect tomorrow.

Twenty percent of respondents said their firm or company has warned employees against the unauthorized use of generative AI at work.

Forensic accounting is a specialized field that uses accounting, auditing and investigative skills to investigate and examine financial statements and records to uncover irregularities or fraudulent activities and identify and analyze financial data patterns, providing valuable insights to legal professionals.

Accountants can address the shortage of young talent in the field by embracing new technology, committing to diversity, and investing in mentorship

Accounting and finance departments are hoping to diversify their workforce, especially with the ongoing shortages of young accountants joining the profession, but one segment of the population that's often left out of the discussion on diversity, equity and inclusion is "neurodiverse" or "neurodivergent" people.

Perhaps it would be helpful for students, families and businesspeople to refresh their understanding of the many unique benefits of accounting education, as well as related professional experience. A career in accounting is not for everybody; however, one should make an informed choice among careers, especially at the key early stage of one's growth after college.

The way people plan for retirement has changed dramatically over the last several decades. Those nearing retirement should avoid underestimating their longevity as well as stock market volatility. Here are the seven biggest risks retirees should avoid at all costs, along with tips to address them.