Accounting Execs

Our services include, but are not limited to:
1 - Accounting
2 - FP&A
3 - Taxes
4 - Consulting
5 - Reviews & Compilations

[Accounting Execs @AccountingExecs]

Are you looking for an FP&A Professional? If so, send us a message!

#BusinessGrowth #business #SmallBusiness #FinancialGrowth #money

[Accounting Execs @AccountingExecs]

A man once tried to deduct every meal at McDonald’s as a business expense, claiming he discussed his startup idea with friends over fries. The IRS rejected it, noting that “Big Mac brainstorming” doesn’t qualify unless you can prove a legitimate business purpose.

#McDonald #FastFood #taxes #IRS #businessowner #Writeoff #bigmac

[Accounting Execs @AccountingExecs]

Tax Tip

If you in a job where tipping is customary (think servers, bartenders, stylists, spa staff), thanks to the One Big Beautiful Bill Act, tipped workers can now deduct up to $25,000 in tip income from their federal taxable income starting with the 2025 tax year.

#tips #money #business #labor #OneBigBeautifulBill #taxes

[Accounting Execs @AccountingExecs]

Tax Tip!

Contributing to retirement accounts like a 401(k) can reduce your taxable income for the year. 401(k) contributions are made pre-tax through your employer, lowering your taxable income. For 2025, the contribution limit is $23,000 (or $31,000 if you're 50 or older).

Under a change made in SECURE 2.0, a higher catch-up contribution limit applies for employees aged 60, 61, 62 and 63 who participate in these plans. For 2025, this higher catch-up contribution limit is $11,250 instead of $7,500.

#taxes #money #retirement #savings #tips

[Accounting Execs @AccountingExecs]

Did you know?

If you win more than $5,000 in the lottery, the IRS automatically withholds 24% of your winnings before you ever see a dime. But here’s the kicker: if your total income (including the prize) pushes you into a higher tax bracket, you could owe up to 37% in federal taxes when you file. That means your “jackpot” might feel more like a “just-a-pot.”

#taxes #lottery #money #gambling #IRS #millionaire

[Accounting Execs @AccountingExecs]

Did you know?

A California couple once tried to deduct expenses for their cat as a "guard animal" for their home office. They argued the cat reduced rodent infestations. The IRS didn’t bite—but the case sparked debate over whether animals could qualify as a business expense under rare conditions!

#cats #taxes #business #funnyanimals #animals #money

[Accounting Execs @AccountingExecs]

Did you know?

During the Apollo 13 mission, Jack Swigert radioed Houston mid-mission to ask how to file a tax extension. He wasn't joking.

#NASA #space #astronaut #taxes #Apollo #SpaceExploration #money #SpaceX

[Accounting Execs @AccountingExecs]

Did you know?

People in Maryland are taxed to flush their toilets. This tax, known as the flush tax, is a $30 annual fee that was established to generate revenue for the Chesapeake Bay Restoration Fund. The fee has recently doubled to $60 per year, and it is collected from residents.

#taxes #money #Maryland #toilet #funny #government

[Accounting Execs @AccountingExecs]

Did you know?

Albert Einstein said that “The hardest thing in the world to understand is the Income Tax”. The quote appeared in the Chicago Tribune in 1971 as a freestanding item next to an article by Henry W. Bloch, the cofounder of tax preparation company H&R Block.

#AlbertEinstein #taxes @HRBlock #confused #mathlete

[Accounting Execs @AccountingExecs]

Did you know?

According to the IRS, if you earn money through illegal means—such as drug trafficking, embezzlement, or other criminal enterprises—you are still legally required to report that income on your federal tax return.

[Accounting Execs @AccountingExecs]

We just did a training that included information about violence in the workplace. Do you consider verbal assaults without physical assault violence?

#work #training #Opinion #violence #daily #Corporate

[Accounting Execs @AccountingExecs]

Did you know?

Willie Nelson released an album to pay off his tax debt “The IRS Tapes: Who’ll Buy My Memories?” was a real album, created to help settle his $16.7 million tax bill.

#willienelson #music #taxes #government #countrymusic

[Accounting Execs @AccountingExecs]

Did you know?

In Illinois, candy is taxed at 6.25% while normal groceries are taxed at 1%. The deciding factor is whether the tasty treat includes flour!

It may sound weird, but since Twix includes flour, it is taxed at 1% while Skittles does not, so it is taxed at 6.25%.

#Candy #Taxes #Illinois #FunFacts

[Accounting Execs @AccountingExecs]

Yeah, I reach out to the person as a “customer” and they sent me a picture of my company’s Firm License on CPAVerify, so I was able to co firm that it is actually happening. I’ve tried reaching out to to the CPA whose license is likely being used fraudulently but have not been able to contact them.

[Accounting Execs @AccountingExecs]

@FortWayneCPA @FortWayneCPA_ You should also check out Fiverr! We've received calls from people asking if individuals on that app work for us. We found that they have been using our firm license and other CPAs' licenses as their own. They provide attestation and tax services without the proper credentials.

[Accounting Execs @AccountingExecs]

Did you know?

Some state governments taxed playing cards—specifically in Alabama, where a 10¢ tax per deck was imposed. Meanwhile, Nevada took the opposite approach and gave away free decks with every tax return filed. Talk about a royal flush of irony.

[Accounting Execs @AccountingExecs]

Did you know?

In 1944, the top federal income tax rate in the U.S. was a staggering 94% — applied to income over $200,000 (equivalent to several million today).

This ultra-high rate was part of the wartime revenue strategy during World War II. It’s hard to imagine now, but it reflected a time when tax policy was seen as a patriotic duty to support the war effort.

#taxes #WWII #history #government #FederalReserve #Congress #President