Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? Tesla Korea makes accounting errors [ The Chosun Daily ] Tesla Korea, the South Korean unit of U.S.

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ThomsonReuters

JULY 6, 2023

Let’s take a look at what tax advisory is and how you can take advantage of this approach to serving clients. What are tax advisory services? Sales tax : Sales tax advisors identify and recover sales tax refunds, reduce future tax liabilities, and provide expertise during sales tax audits.

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ThomsonReuters

JULY 10, 2024

A deeper look at efficiency and automation It’s no secret that tax and accounting firms have increasingly turned to automation as the primary strategy for streamlining operations in recent years.

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MyIRSRelief

APRIL 29, 2024

Tax professionals guide you through the formation process, ensuring you set up your business for success. Audit Representation: In the event of an IRS audit, a qualified tax professional will represent your business, ensuring your rights are protected and navigating the process efficiently.

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ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. The following guide offers numerous strategies and tips that owners of S corporations can use to lower their taxes, including deductions and credits.

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CPA Practice

NOVEMBER 9, 2023

Thomson Reuters, a global content and technology company, has added several updates to its suite of tax, accounting and audit products, it announced at its annual customer event, SYNERGY. Automating tax and audit workflows “Tax industry professionals struggle with the increased pace of regulatory change and hiring challenges.

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Going Concern

JULY 21, 2023

PCAOB inspection reports provide investors, audit committees, and potential clients with important information they can use to make informed decisions. By making that information easier to find and compare, these new tools will empower users to hold firms accountable for producing high-quality audits,” said PCAOB Chair Erica Y.

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inDinero Tax Tips

NOVEMBER 15, 2021

Claiming deductions can save your company thousands of dollars in income taxes. However, if you’re claiming ineligible business expenses , you risk facing an audit. If the thought of filing your taxes is enough to make you sweat, you’re not alone. . Many of them may affect the 2021 tax year.

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Accounting Insight

FEBRUARY 1, 2024

A large business tax enquiry / corporate tax enquiry is carried out by HMRC’s ‘Large Business’ directorate and ‘Wealthy & Mid-sized Business Compliance’ directorate. Remember, a corporate tax enquiry is not routine, despite what HMRC may suggest. What is a business tax enquiry / hmrc corporate enquiry ?

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LyfeAccounting

MAY 18, 2021

So it will definitely raise a red flag and could easily result in an audit. To avoid this tax mistake, make sure to have some kind of accounting system in place that keeps track of your actual business expenses. Tax Mistake #5: Filing late. Tax Mistake #7: Failing to be taxed as an S-Corporation.

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Accounting Insight

MARCH 3, 2023

These trends will lead to an increased interest among tax and accounting firms to outsource tax preparation services to free up staff time to focus on higher-value work. And governments around the world – 136, to date – have also already agreed to adopt the 15% minimum corporate tax.

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Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. It is a good practice to write the name of the client/customer or business purpose on all receipts in case of audit.

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ThomsonReuters

MARCH 5, 2025

And with tax season underway, tax professionals can leverage AI to automate repetitive tasks and optimize workflows, thus speeding up tax preparation and reducing stress levels (their own and their clients). Efficiency We can see the efficacy of AI on tax and accounting use cases by focusing on its applications in audits.

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