News
Increased Late Filing Penalties for Forms W-2 and Forms 1099 Reporting Mineral Royalties
January 29, 2024
The 68th Montana Legislature passed Senate Bill 303, increasing the late filing penalties for Form W-2 and Form 1099 reporting Montana mineral royalties. These penalties go into effect for forms due in 2024.
Current BOI resources for members; additional resources being developed
January 25, 2024
As Beneficial Ownership Information (BOI) reporting becomes more pressing for CPAs, their clients and small businesses, here’s a brief outline of some recent activities and AICPA resources that will be available soon.
Proposal Notice MAR Notice No. 42-1074
January 12, 2024
MAR Notice No. 42-1074 – pertaining to Livestock Reporting Deadline Revisions to Implement House Bill 66 (2023)
Gianforte names members to property tax task force
January 11, 2024
The bipartisan group is charged with developing recommendations for 2025 Legislature.
Navigating the New Terrain: The Evolution of Accounting in the Cyber Commerce Era
January 09, 2024
The advent of cyber commerce has initiated a transformative era in the world of accounting. This digital revolution, marked by the emergence of e-commerce platforms, cryptocurrencies, and blockchain technologies, has not only expanded the accounting landscape but also introduced novel challenges and opportunities for accounting professionals.
Unveiling the Diverse World of Accounting: More Than Just Taxes
January 09, 2024
When we think of accounting, images of tax forms, calculators, and number crunching often come to mind. However, this perception barely scratches the surface of what accounting truly entails.
BOI resources from AICPA
January 05, 2024
New podcast, plus risk alert and town hall recordings
Sky-High Living
January 01, 2024
With stunning scenery, outdoor recreation and an independent spirit, Montana might be your perfect place to call home.
Changes To Several Montana Income Tax Credits
December 27, 2023
Four existing Montana income tax credits were updated during the 68th Montana Legislature.
The Top 100 Most Influential People in Public Accounting — 2023
December 05, 2023
MTCPA member - Rick Reisig - among the list.
New Federal Reporting Law Carries Hefty Penalties for Small Businesses
December 04, 2023
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.
Montana Department of Revenue Releases Updated Wage Withholding Tax Tables and Employee Withholding Form
November 20, 2023
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.
Montana High Schools Participate in ‘Accounting Opportunities Experience’ during the month of November
November 16, 2023
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.
Five Simple AI Strategies to Unlock More Freedom and Productivity in Your Practice
September 11, 2023
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.
IRS offers extra time for Roth catch-up contributions
August 25, 2023
The Internal Revenue Service is giving people until 2026 to comply with a new requirement for Roth catch-up contributions.
BEC/New Exam Disciplines Application Chart
August 14, 2023
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).
The Impact of the SALT Cap on the Marriage Penalty, Business Entity, and Residency
August 01, 2023
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.
AICPA Forms Advisory Group to Create Strategy to Address CPA Talent Shortage
July 31, 2023
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.
Mental health matters
July 26, 2023
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
Tax Advantaged Strategies to Help Clients Plan for Long-Term Care
July 03, 2023
As health care costs and life expectancy rates rise, CPAs should ensure their clients are preparing for the potential need for long-term care.