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Report Predicts AI will Have a Transformational Impact on Professional Work by 2028

CPA Practice

Key industry findings from the report: Tax and Accounting Professionals: Freeing up time to deliver more value: Productivity is the highest priority for tax and accounting firms (59%), while internal efficiency (75%) tops the list in corporate tax and accounting departments.

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What was new in October for state sales and use taxes

TaxConnex

The exemption does not apply to any tax levied by a county, city or district and it sunsets in 2028. Kentucky has issued additional guidance following passage of a bill this spring that will make taxable beginning in 2023 many services previously not subject to state sales tax. For tax years beginning on or after Jan.

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Chancellor's Autumn Statement.

Inform Accounting

The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

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Tax Rates & Reliefs

Inform Accounting

In this blog we set out some of the main tax rates. INCOME TAX The personal allowance and basic rate band threshold are now frozen in place until 5 April 2028. As earnings increase, individuals will move into higher tax bands. These allowances are in addition to the personal allowance and attract a 0% rate of income tax.

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Embracing technology to simplify ESG compliance

ThomsonReuters

Whether you’re in scope for ESRS requirements now or you’re somewhere down the line in the 2028 range, the reality is all of us need to work together to accomplish this,” said Sawyer Knight , director of ESG strategy and market insights at Thomson Reuters. “We Collaboration is absolutely critical. We found that both U.S.

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Some States Are Considering Shelving the Grocery Tax

CPA Practice

Almost all states have seen their budget surpluses grow in the past two years, thanks to federal COVID-19 relief funds and increasing corporate tax revenues as the economy recovers from the pandemic. The cost is projected to increase to $415 million in fiscal 2028. Efforts failed in several other states.

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What to know about TCJA expiration

ThomsonReuters

The passage of the TCJA in December 2017 was significant as it overhauled the tax landscape for both individuals and corporations. The Act shifted millions of Americans to the standard deduction and reduced both individual and corporate tax rates, to name just a few of the reforms.