AI and Accounting
Artificial Intelligence (AI) is rapidly reshaping various sectors, and accounting is no exception. The integration of AI technologies into the accounting realm is transforming the way financial data is processed, analyzed, and utilized. As businesses strive to improve efficiency and accuracy, AI is emerging as an indispensable tool that not only automates routine tasks but […]
2025 Tax news
Here are some recent updates on 2024 tax news:
IRS Tax Filing Season: The IRS will start accepting 2024 federal tax returns on January 27. It’s a good idea to get your documents in order early to ensure a smooth filing process.
Child Tax Credit: For 2024, the maximum tax credit per qualifying child is $2,000 for children under 17. The refundable portion of the credit can be up to $1,700 per qualifying child.
Tax Inflation Adjustments: The IRS has announced annual inflation adjustments for over 60 tax provisions for the 2024 tax year. This includes changes to the tax rate schedules and other tax-related items.