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Exploring key 2024 tax bill proposals

ThomsonReuters

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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BDO Survey: Election Year Fosters Concerns for Tax Leaders

CPA Practice

While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA.

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Act now to mitigate the increase in the corporate tax rate

Menzies

Menzies LLP - A leading chartered accountancy firm. From 1 April 2023, the corporation tax rate will be increasing from 19% to 25% for companies with taxable profits over £250,000. Companies with taxable profits of less than £50,000 will continue to pay tax at 19%. Should you shorten your accounting period?

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Most Tax Pros, Corporate and Public, Believe AI Should Be in Their Toolbox

CPA Practice

More than three-fourths (77%) of tax professionals believe AI technology can be applied to their work, and more than half (56%) of in-house corporate tax teams think their external tax advisers’ firms should be using AI, shows a new report by Thomson Reuters.

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Cohen & Co. Admits 7 to Partnership

CPA Practice

Top 50 accounting firm Cohen & Co. announced its new partner class for 2024 on June 6, as well as two new members of its board of managers. “We The two newest board members are: Joe Falbo , a tax partner in the Buffalo, NY, office. Mike McGivney , a tax partner in the Cleveland office. said in a statement.

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R&D Tax Relief Changes

Menzies

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is a highly valuable relief to promote and reward attempts by companies to achieve advances in scientific or technological fields or appreciable improvements in associated processes. Tax saving increases by up to £2.80

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Cohen & Co. to Move Into Buffalo After Acquiring CPA and Consulting Firms

CPA Practice

Top 50 accounting firm Cohen & Co. will be entering the Buffalo market when a deal to acquire Szymkowiak & Associates CPAs and its sister firm PEAR Consultants closes next month. will have approximately 80 partners, 800 employees, and projected revenue for the fiscal year ending May 31, 2024 surpassing $170 million.

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