ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. What does this mean for my firm? The penalty increases as the pay ratio widens.

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Tax tax return Technology income tax 110

ThomsonReuters

MARCH 15, 2023

Today, a growing number of private equity investors are entering the accounting market as they’ve discovered that investing in accounting firms can yield great returns. That is, if the firm is a good fit and has the right appeal. Accounting firms looking to attract investors should ensure their tech stack is up to date.

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Technology accounting firms Account accountant 64

ThomsonReuters

FEBRUARY 24, 2023

This is due, in part, to a growing number of private equity firms entering the accounting market. As Allan D. Koltin, CEO of Koltin Consulting Group, explained, private equity firms perceive accounting firms as being low risk, high reward. The post What attracts investors to accounting firms?

accounting firms 59

accounting firms Account accountant accounted 59

CPA Practice

APRIL 26, 2023

The Pennsylvania Institute of Certified Public Accountants , the largest CPA association in Pennsylvania with over 20,000 members, has issued its latest Insights report. The report’s deep dive provides the latest data on compensation across titles, technology adoption, billing model breakdowns, M&A and more.

Pennsylvania 52

Pennsylvania public accounting accounting firms Account 52

ThomsonReuters

JULY 13, 2023

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. To learn more, let’s take a look at three ways accounting firms can use AI as a competitive advantage.

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Technology Tax accounting firms income tax 97

ThomsonReuters

SEPTEMBER 20, 2024

Jump to ↓ The challenges of an outdated indirect tax workflow What are the benefits of implementing indirect tax software? Let’s take a look at the current indirect tax landscape and how implementing indirect tax software can streamline workflows and give your firm a competitive edge. Time savings.

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Technology Tax Gaming audit 52

ThomsonReuters

MAY 24, 2023

Faced with increased client expectations and strained bandwidth, today’s accounting firms are in critical need of greater automation and streamlined workflows. Teribery added, “It is pre-built so [firms] don’t need the IT resources. with RESTful Web APIs to retrieve and update tax information.

accounting firms 52

accounting firms Technology Account accountant 52

ThomsonReuters

MAY 22, 2024

There are, however, other considerations at play and challenges that accounting firm leaders may face when looking to move to the cloud. To help firms navigate the change, this article will take a closer look at both some of the opportunities and challenges that firm owners and partners should consider.

accounting firms 52

accounting firms Technology Account accountant 52

ThomsonReuters

APRIL 30, 2024

Jump to: The role of emotional intelligence (EQ) in client relationships The evolution of client service in accounting firms Leveraging technology for enhanced client service Forward-looking accountants are increasingly realizing the importance of harmonizing technical tax expertise with interpersonal relationship skills.

Technology 52

Technology accounting firms financial statements tax return 52

ThomsonReuters

OCTOBER 31, 2024

This law addresses the pressing need to combat illicit activities like tax fraud and money laundering, often facilitated by anonymous shell companies. Let’s explore frequently asked questions, the key aspects of the CTA, its impact, and the benefits it offers to firms. White paper What to know about the Corporate Transparency Act?

Tax 52

Tax Account accountant accounted 52

CPA Practice

OCTOBER 16, 2023

Tax season poses immense challenges for accounting firms. Many firms turn to outsourcing as a solution. So how can firms ensure they implement outsourcing in a way that enhances, rather than hampers, operations? Discover how the right domestic outsourcing partner can help optimize your tax season operations.

cpas 69

cpas Education accounting firms Tax 69

CPA Practice

OCTOBER 22, 2024

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. federal payroll compliance is an ongoing process that requires vigilance and dedication.

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payroll Rhode Island West Virginia South Dakota 52

ThomsonReuters

JANUARY 14, 2022

Being an accountant means that work often comes in ebbs and flows. The tide moves in every quarter, and there is always tax season. A recent survey revealed that 82% of tax professionals identify as feeling burned out. It’s a significant issue for tax professionals and accountants. What is burnout?

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Tax Technology Start-ups accounting software 98

ThomsonReuters

APRIL 24, 2024

Jump to: What is GenAI and how can tax professionals use it? Couple that with the ability to conduct tax research quickly, generative AI is a potential game-changer. However, most tax and accounting professionals are unsure of how to effectively harness the power of AI, or even where to start.

Technology 52

Technology Tax accounting firms financial statements 52

ThomsonReuters

FEBRUARY 29, 2024

Lanphier says she also knew an accounting degree would provide many job options. Upon completion of the joint-degree BBA and MS program, Lanphier was recruited by Deloitte to work in their international tax group. Dennis Lanphier, an attorney in addition to being an accountant, can handle complex tax situations.)

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CPA Account accountant accounted 97

ThomsonReuters

OCTOBER 3, 2024

← Blog home For most accounting firms, tax preparation is a cornerstone of their business. According to a recent survey of 180 tax professionals at accounting firms, 88% of respondents indicate that their firm currently offers tax advisory services.

Technology 52

Technology tax preparation tax return accounting firms 52

ThomsonReuters

FEBRUARY 9, 2023

As accountants, there’s no way to avoid the hectic nature of tax season. How can I make my tax season easier? From carving out dedicated personal time to implementing time-saving tools and technology, let’s take a look at three ways you can shift out of survival mode and thrive not only during tax season but all year long.

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Tax tax return Technology accounting software 59

ThomsonReuters

FEBRUARY 26, 2024

Heath attended a private college and took the requisite courses to become a certified public accountant, finishing a five-year degree in four years, then eventually getting married and moving back home. Erin Heath, CPA Heath began reaching out to clients and by the end of the year, she had tripled her tax revenue from the previous year.

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CPA South Dakota Nebraska Tax 98

ThomsonReuters

FEBRUARY 27, 2024

Sandy Heit’s path to owning her own accounting firm was a bit unconventional — and ultimately involved her love for photography. She pursued accounting due to a combination of a love for math and heeding her mother’s advice to have a stable job.

cpa firm 52

cpa firm accounting firms accounting careers CPA 52

ThomsonReuters

SEPTEMBER 3, 2024

The 2024 Generative AI in Professional Services research conducted by the Thomson Reuters Institute provides a comprehensive overview of the burgeoning role of GenAI across various professional sectors, including legal, tax, accounting, risk, and government. However, these changes happen slowly and are not always used by all firms.”

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auditor audit tax accountant Tax 72

ThomsonReuters

OCTOBER 19, 2023

This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings. According to a recent Small Business Administration report , 27,104,006 small businesses were termed “nonemployer firms” and had no employees.

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ThomsonReuters

AUGUST 1, 2023

Thomson Reuters set out to answer that question by surveying more than 100 CPAs who are currently employed as accountants. The results show that tax and accounting professionals know exactly what they want in an employer—and here’s how firms can heed the call. hours per week.

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ThomsonReuters

JANUARY 24, 2023

For more information on ESG accounting and reporting , read our blog covering the topic. The post The value of audit certification and what it means for tax firms appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

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audit auditor Tax accounting firms 59

ThomsonReuters

AUGUST 3, 2023

As a result of the explosion of new tools and software available, accounting firms have a significant opportunity to improve their reputational status through enhanced advisory service offerings. Changes to indirect taxes are raising questions and organizational challenges.

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Technology accounting firms Tax Account 98

ThomsonReuters

MARCH 12, 2024

Jump to: Identify the common barriers to change Overcome the barriers with communication Reframe the narrative Remember your clients Set the expectations for adaptation Running an accounting firm can feel like you’re constantly chasing changes. These tips should help your firm prepare for and maximize the benefits of change.

cpas 52

cpas Technology accounting firms Tax 52

ThomsonReuters

JANUARY 29, 2024

Today’s accounting firm leaders are constantly grappling with two pivotal challenges: attracting top-tier talent and holding on to the people they have. The challenge for CPA firms is to create an environment and a career path that talented young people find appealing.

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Technology accounting degree tax preparation cpa firm 52

ThomsonReuters

JUNE 15, 2023

You work to improve your tax and accounting firm — increase profitability, expand into new areas, and find a better work-life balance. Tax firms are feeling the pressure of changing tax regulations, along with clients who expect greater accuracy and faster responses in the digital age.

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Technology tax preparation tax return Tax 92

ThomsonReuters

FEBRUARY 28, 2024

That insight stuck with her, Shaul recalls, adding that it planted the seeds of her own path to success and owning her own firm. A culture of happiness and growth In the six years after she became a CPA, Shaul worked at several accounting firms and experienced some less-than-ideal managers.

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cpa firm CPA Non-Profits financial statements 98

ThomsonReuters

JUNE 16, 2023

Is your firm running its gears on outdated accounting technology? However, firms looking to remain competitive and drive greater profitability must pause to reflect on how they can work smarter and faster. Is staff spending too much time on tax research and keeping pace with legislative changes?

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Technology Account accountant accounted 98

ThomsonReuters

MARCH 26, 2024

The guidance clarifies that developers can receive a bonus of up to 10 percentage points on top of the Investment Tax Credit (ITC) and an increase of 10% for the Production Tax Credit (PTC ). These lists are essential resources for tax professionals to determine the eligibility of their clients’ projects accurately.

Transportation 52

Transportation Tax accounting and finance accounting firms 52

ThomsonReuters

FEBRUARY 13, 2023

In an era of staffing shortages, accounting firms must increasingly look outside the box to fill gaps in talent. More accurate returns in less time As most accountants know, tax technology can automate manual activities, save time, and improve accuracy. Errors are caught automatically — before it’s too late to fix them.

Technology 59

Technology Non-Profits accounting firms Tax 59

ThomsonReuters

MARCH 8, 2024

In order to serve your mid-sized clients specifically, logistical challenges of understanding exactly what your goals are as an evolving firm can be some of the biggest challenges and requires a shift in thinking. How do firms think ahead to provide better services for their clients?

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cpa firm CPA Technology Tax 96

ThomsonReuters

MAY 11, 2023

Small and mid-sized accounting firms are increasingly grappling with the need to do more with less, often putting staff at risk of burnout and weighing down productivity. But what if you could boost your firm’s efficiency and morale at the same time? No more manually detecting blank fields or numbers that don’t add up.

Technology 52

Technology payroll tax accounts payable accounting firms 52

ThomsonReuters

MARCH 13, 2023

More recently, in April 2022, New Mountain Capital announced a majority investment in professional services firms Citrin Cooperman.  These investments marked a notable transformation in the profession, with the realization among private equity firms that investing in large accounting firms can yield great returns.

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Technology accounting firms Tax audit 59

ThomsonReuters

FEBRUARY 24, 2023

Schedule K-1s, which are tax forms used to report a partner’s or shareholder’s income, losses, capital gain, dividends, etc., K-1s, however, are quite different and can come with some complexities for tax and accounting firms. from the partnership for the tax year. from the partnership for the tax year.

Non-Profits 59

Non-Profits tax return Tax income tax 59

ThomsonReuters

JULY 11, 2023

Accounting firms turn to a three-tiered approach to uncover opportunities Accounting firms are severely impacted by the dynamic post-pandemic economy. Firms are faced with the external challenges of meeting new client demands, increasing compliance pressures, and tax law changes.

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Technology Account accountant accounted 73

ThomsonReuters

JUNE 3, 2021

Improving efficiency, driving automation, and streamlining internal processes are essential for tax and accounting firms looking to better meet increased client demands and, ultimately, generate greater profitability. . This ultimately means greater profitability for firms and a win-win scenario for firm leaders. .

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