This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The benefits of these solutions are clear: reduced manual effort, increased accuracy, and better control over tax processes. Learn more about embedded tax solutions and how they can benefit your organization, download our whitepaper on businesstax transformation today.
Flexible Income Lookback : Taxpayers can choose to use either current or prior-year income to calculate the child tax credit in 2024 and 2025, providing flexibility in determining eligibility. Inflation Adjustment : Starting in 2024, the child tax credit will be adjusted for inflation to keep up with the rising cost of living.
Meet increasing client demands Todays clients expect more than just tax preparation; they want strategic advice, real-time insights, and personalized service. The challenge for many firms is balancing these expectations with the realities of a busytax season.
As these proposals progress, it will be interesting to see how they shape the future of taxation in the United States. Stay tuned for further updates on these developments!
The tax credit provides a varying, four-tier incentive depending on the carbon intensity of the hydrogen production pathway. The Department of Energy (DOE) released a whitepaper describing how to assess lifecycle greenhouse gas emissions associated with the use of electricity in hydrogen production.
Firm resources often include, but are not limited to: Employees Technology solutions and other business equipment Working space Capital to pay employees, obtain office space, purchase technology, etc. The accounting profession is no stranger to long work hours and hefty workloads, especially during busytax season.
Add to that the recent focus by many workers on improved work-life balance—something that can seem at odds with a busytax season. However, there are steps most tax firms can take to combat these challenging circumstances and get a leg up when competing for industry talent.
” Weinstein continued, “The capital provided through PE investors also can greatly enhance the quality and capacity of core businesses (tax and audit) on which firms such as ours were founded.
Check out our self-care blog series to learn more about actionable strategies on how to take care of yourself through the busytax season and throughout the year. Blog 5 tips to manage stress during busy season. Whitepaper How to prepare your CPA firm for the future with automation and integration.
In addition to reducing manual tasks, automation opens the door to direct collaboration with clients, including the ability to share data and documents directly via private accounts, automatically extract data from client source documents, or easily transfer account balances from integrated businesstax preparation software.
To learn more about the K-1 Analyzer, check out our whitepaper on how the software helps firms handle complex, non-standard K-1 information with ease. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. The post What is Schedule K-1?
Read our whitepaper about corporate tax management to learn how next-generation tax technologies help tax professionals deliver valuable analysis, insights, and guidance to their companies.
“Those in retail or seasonal businesses should not be surprised to see the months with higher transaction volumes be selected under audit,” Davis says. Whitepaper This survival guide offers strategies and tips from former auditors on how indirect tax teams can avoid audits and minimize their effects.
It also builds confidence in the tax department, because the data isn’t being manipulated, it’s a push-button report that’s coming from a single source connected to the ERP system, which is the source of truth for everything.” Download our free whitepaper on managing sales and use tax audits.
And so, you know, I start watching the dollars on a trial balance for a businesstax return. WhitePaper, is it had an amazing appendix called audit architecture map. And I’m not anti cloud, but the pricing models on the cloud product are almost always pre engagement for either prep company review, and or full audit.
citizens and domestic companies and planning to narrow the scope of the act to foreign reporting companies, the department aims to support American taxpayers and small businesses. Explore key resources below Checkpoint Newsstand Thomson Reuters tax and accounting news. By suspending penalties for U.S.
Tax’s contribution to the planning conversation is important because tax is one of the heaviest users of data in a large organization. And, unlike more siloed areas of a business, tax must pull the data it needs from departments across the organization.
This means leveraging client collaboration tools that facilitate data collection and integrate with your tax software to automate 1040 preparation. UltraTax CS automates your individual and businesstax preparation workflow with powerful, time-saving tools that optimize productivity and increase profitability.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content