CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.

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CPA Practice

MARCH 8, 2023

While designed to limit inflation, the IRA has also impacted various areas of taxation beyond IRS funding, such as bonus depreciation and the corporate alternative minimum tax (AMT). Understanding Then, the company paid whichever resulted in the highest tax bill. Corporate

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CPA Practice

JULY 16, 2024

Grant Thornton Names Jim Wittmer as Managing Principal of Atlantic Coast Region Grant Thornton, one of America’s largest brands for audit, assurance, tax, and advisory services, has named Jim Wittmer the managing principal of the firm’s Atlantic Coast region. Baltimore, Pittsburgh and Philadelphia, where he is based.

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PYMNTS

JULY 21, 2017

.’s largest banks are looking to Washington, D.C., According to Morgan Stanley CEO James Gorman, lower corporate taxes and more streamlined bank regulation could “allow U.S. But while many bank CEOs have fixed their eyes on Washington to promote industry growth, not every executive is optimistic.

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KROST

APRIL 9, 2021

KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax , accounting , consulting, assurance and advisory , M&A and capital markets , corporate tax incentives , and wealth management. Additionally, the firm ranked No. KROST ranked No.

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ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

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Shay CPA

DECEMBER 7, 2022

Before you shut down your tech company, you need to take some final tax steps. . We’ve seen founders left holding the bag in resolving tax issues, even years after they thought they had closed their companies. Sales tax accounts. State franchise and income tax accounts. Washington. You’re not there yet, though.

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ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? What is indirect tax? Direct tax and indirect tax. The differences between direct tax and indirect tax are important to understand. The differences between direct tax and indirect tax are important to understand. Direct tax is progressive in nature.

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xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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CPA Practice

NOVEMBER 7, 2024

The American Institute of CPAs will be holding its 2024 Fall Tax Division Meetings for on-site media on Wednesday, Nov. 13 in Washington, D.C. following the AICPA National Tax Conference. The meetings will include speakers from the Internal Revenue Service, the Treasury Department, and other tax groups. Washington, D.C.

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Going Concern

MAY 9, 2023

Deloitte announced its Chief Tax Officer Program is bringing on Paul Stephens, a 25 year veteran of AT&T, to serve as independent senior advisor. His job will be to advise Deloitte Tax staff and senior leadership “while also helping CTOs and their finance organizations create value for their enterprises and communities.”

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CPA Practice

DECEMBER 19, 2023

Consider recent research conducted by Thomson Reuters Institute that found one in 10 professionals in accounting firms and corporate tax departments are already using some form of generative AI on a widescale basis. operations, based in the Washington, D.C., The company has more than 300 locations worldwide. metropolitan area.

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PYMNTS

APRIL 5, 2017

As a new administration settles into Washington, D.C., being told to depart as a harbinger of pressures to come, even as corporate taxes have been, as he sees it, high enough to move businesses to seek opportunities beyond U.S. Among them, the Millennium has seen funding of wars and debt to the tune of trillions of dollars.

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PYMNTS

MAY 3, 2018

Tax reform played a key role for several corporate successes in the first quarter of 2018. “The optimism generated from corporate tax reform seems to have done little to persuade organizations to spend their cash during the early months of 2018,” Kaitz said in a statement.

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CPA Practice

OCTOBER 2, 2023

By Katelyn Washington, Kiplinter Consumer News Service (TNS) The IRS has granted Louisiana tax relief to areas of the state impacted by seawater intrusion. Affected taxpayers now have extended tax deadlines of Feb. 15, 2024, to file certain tax returns and make tax payments. 15, 2024, to file 2022 tax returns.

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PYMNTS

JULY 24, 2017

Aside from the eCommerce overload, retailers from across the board have been showing increased amounts of concern over a potential new border adjustment tax (BAT) proposed by U.S. The hope in President Donald Trump’s administration is that through the implementation of this new tax American jobs will see a resurgence.

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PYMNTS

JULY 19, 2017

200 retail professionals from across the United States gathered at the Retail Advocates Summit in Washington, D.C., The convention focus was centered on retailer and employee tax reform, but the VP veered into talks of repealing and replacing Obamacare. He also highlighted the administration’s plans to repeal the death tax.

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PYMNTS

APRIL 12, 2019

Elizabeth Warren announced her vision for a revamped corporate tax law, The Wall Street Journal reported Thursday (April 11), an initiative that could raise $1 trillion over 10 years. Reports said Warren announced her Real Corporate Profits Tax, proposed legislation that would include a 7 percent tax on the largest U.S.

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Going Concern

AUGUST 5, 2022

Meet the accountants who may become the new power brokers of taxes. [ Washington and Beijing are in talks to settle a long-running dispute over the auditing compliance of U.S.-listed dOnt GEt a RaISe YoU’LL pAy 30% tAx!!!! I’m thinking about joining TikTok just for the free tax advice. listed Chinese companies.

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PYMNTS

OCTOBER 12, 2020

German Finance Minister: More Than 130 Nations Agree to Corporate Tax Framework. The primary aim of any deal would be to make sure that Big Tech firms like Facebook , Google and Amazon were forced to pay their fair share when it comes to tax, according to Scholz. German Finance Minister Olaf Scholz said Friday (Oct.

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Going Concern

JANUARY 10, 2025

Trump Taps Long-Time Tax Lobbyist for Key Treasury Role [ NAPA ] President-elect Trump has turned to an influential and long-time tax lobbyist in Washington, D.C. to serve as the head of tax policy in the U.S. 2 post on Truth Social, Trump announced that he will nominate Ken Kies to be Assistant Secretary for Tax Policy.

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PYMNTS

AUGUST 12, 2019

In one anecdote per The Washington Post , Peter Bragdon, chief administrative officer of Columbia Sportwear, has said, “Some prices will go up. Here’s why: The impact of tax cuts may have already been felt by consumers, and the initial impact is already in the rearview mirror.

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CPA Practice

MAY 7, 2024

taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year. Higher taxes are quite likely, and if the government wants to take a greater share of your income or mine or Berkshire’s, they can do it. We think it’s appropriate.”

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CPA Practice

MARCH 9, 2023

Taylor, Kiplinger Consumer News Service (TNS) President Biden’s FY 2024 budget—released today—proposes several tax changes aimed at wealthier taxpayers. Among the tax proposals, which will likely stall in a divided Congress, are notable tax rate increases for Medicare and capital gains.

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CPA Practice

MARCH 15, 2023

Taylor, Kiplinger Consumer News Service (TNS) President Biden’s FY 2024 budget—released today—proposes several tax changes aimed at wealthier taxpayers. Among the tax proposals, which will likely stall in a divided Congress, are notable tax rate increases for Medicare and capital gains.

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PYMNTS

JULY 2, 2018

states have, or will have, laws that require online merchants to collect sales tax , and last week’s Supreme Court ruling is likely to increase that number. SCOTUS ruled that states can collect sales tax from online sellers, and reactions to the ruling have been mixed – even among small businesses. Fifteen U.S. ”

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CPA Practice

JULY 12, 2024

The small businesses that anchor our economy are about to face a devastating tax hike that will hurt workers and weaken communities. As the owner of one of those job creators—a third-generation family-owned manufacturing company in Cuba, Missouri—I’m calling on Washington, D.C., But there’s a problem.

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CPA Practice

MARCH 7, 2024

The President set out his plan to reduce the deficit by $3 trillion over 10 years by increasing taxes for the wealthiest individuals and corporations. In his State of the Union speech, President Biden announced a proposal to deny corporations a tax deduction when they pay more than $1 million to any employee.

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CPA Practice

NOVEMBER 13, 2024

By Kemberley Washington Bankrate.com (TNS) Taxes may not be the first thing on your mind following the presidential election, but there’s no doubt that tax policy will play a key role in the year ahead, given that the 2017 Tax Cuts and Jobs Act (TCJA) is set to expire at the end of 2025.

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CPA Practice

JUNE 20, 2023

By Laura Weiss, CQ-Roll Call (TNS) House Democrats’ latest proposal to expand the child tax credit includes a new feature: a $2,000 payment for newborn babies. The two parties have been battling over the tax benefit since before a larger version of it lapsed after 2021. who held a hearing last week on family and household tax benefits.

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CPA Practice

MAY 9, 2024

Erik Wasson Bloomberg News (TNS) The cost of extending the 2017 tax cuts for households, small businesses and the estates of wealthy individuals enacted under President Donald Trump has expanded to $4.6 Extending the personal income tax cuts will cost $3.8 Extending the personal income tax cuts will cost $3.8 trillion alone.

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CPA Practice

JANUARY 23, 2023

By Marsha Mercer, Stateline.org (TNS) As inflation soared in the past year, families in some states suffered a double whammy—paying food sales taxes on top of higher-priced groceries. At least five of the 13 states where groceries were taxed as of last Jan. Grocery taxes that remain are “there for a reason. In 2021, about 13.5

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CPA Practice

SEPTEMBER 13, 2024

By Eliyahu Kamisher and Gregory Korte Bloomberg News (TNS) Republican Donald Trump pledged to eliminate taxes on overtime pay at a rally days after a shaky debate performance, as the presidential nominee looked to turn the page with a new populist tax cut proposal. “We trillion to the national debt over 10 years.

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CPA Practice

JUNE 14, 2024

By Nancy Cook and Justin Sink, Bloomberg News (TNS) Donald Trump promised to lower the corporate tax rate to 20%, further reducing the income levy on the largest U.S. The current corporate tax rate is 21%, but even a small reduction represents a tax cut worth billions of dollars each year for profitable U.S.

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CPA Practice

FEBRUARY 5, 2024

TNS) In a rare show of bipartisan lawmaking, the House of Representatives on Wednesday overwhelmingly passed a bill that would expand the child tax credit for parents and restore a set of tax breaks for businesses, but its fate in the Senate is uncertain. It also includes a change to the Low-Income Housing Tax Credit—championed by Sen.

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PYMNTS

DECEMBER 13, 2020

The incoming administration of President-elect Joe Biden should avoid the broad-based use of tariffs, re-engage allies and spend more on education — but preserve the President Donald Trump administration's tax and regulation cuts, nearly 300 CEOs assembled for a virtual Wall Street Journal conference said.

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CPA Practice

AUGUST 2, 2024

Caitlin Reilly CQ-Roll Call (TNS) WASHINGTON — The Senate fell short as expected Thursday of the 60 votes needed to start debate on a $79 billion tax bill that would deliver financial relief to businesses and low-income families, amid opposition from most Republicans and some on the majority side of the aisle as well.

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