Withum

DECEMBER 4, 2024

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. The total section 179 deduction for 2024 is $1,220,000.

Tax 105

Tax income tax Construction Non-Profits 105

ThomsonReuters

FEBRUARY 22, 2024

It is inevitable that in the next few years, it will impact – and even transform – how corporate tax professionals go about their work. So, what are the key aspects of AI that are likely to affect the world of corporate tax? Here are the top five AI terms corporate tax professionals need to know: 1.

corporation tax 93

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ThomsonReuters

NOVEMBER 8, 2024

According to the Thomson Reuters 2024 State of Corporate ESG Report , 77% of survey respondents said they believe AI will have a high or transformational impact on their work over the next five years. Graphic from the 2024 State of Corporate ESG Report.

Technology 118

Technology accounting and finance Government Finance 118

ThomsonReuters

OCTOBER 30, 2024

← Blog home The 2024 State of the Corporate Tax Department report by the Thomson Reuters Institute, in collaboration with tax executives, highlights the challenges and opportunities facing tax departments today. Read the full Thomson Reuters Institue 2024 Corporate Tax report.

Technology 52

Technology Tax corporation tax Education 52

Churchill-Knight

OCTOBER 30, 2024

Today (30 th October 2024), the Chancellor of the Exchequer, Rachel Reeves, presented Labour’s first Budget in 14 years to Parliament. The Autumn Budget 2024 pledges to raise around £40bn for government programmes focused on “national renewal” and narrowing the growing “black hole” in public finances.

income tax 52

income tax Non-Profits Hospitality corporation tax 52

ThomsonReuters

JULY 10, 2024

It’s back to business fundamentals for many tax and accounting firms as 2024 shapes up to be a year of re-assessment and re-building, according to the Thomson Reuters Institute 2024 State of Tax Professionals Report.

Tax 98

Tax Technology accounting firms accounts payable 98

ThomsonReuters

OCTOBER 31, 2024

Recent legislative changes have introduced new complexities to the tax landscape, and the 2024 U.S. The tax policy proposals put forth by both the Republican and Democratic parties could significantly reshape the future of tax planning. The political and legislative shifts anticipated in the 2024 U.S.

Tax 52

Tax corporation tax tax planning Manufacturing 52

Withum

OCTOBER 3, 2024

The tax relief postpones certain tax filing and payment deadlines that started as early as September 22, 2024, to May 1, 2025. May 1, 2025 2024 Form 1065 March 15, 2025 *Postponement date would allow a proper extension until October 30, 2025. What does the filing and payment relief apply to?

South Carolina 130

South Carolina North Carolina tax preparation income tax 130

Churchill-Knight

OCTOBER 31, 2024

The long-awaited Budget 2024 was delivered by Labour Chancellor Rachel Reeve in parliament on Wednesday, 30 th October 2024. In a series of tax rises to generate £40 billion, the implications of the Budget 2024 will be felt by recruitment agencies and their candidates using umbrella companies for their payroll.

Non-Profits 52

Non-Profits payroll corporation tax Tax 52

CPA Practice

JULY 16, 2024

Wittmer is a principal in Grant Thornton’s Tax practice and has more than 35 years of experience serving public, private and foreign-owned clients in a variety of industries.

Iowa 111

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ThomsonReuters

JUNE 26, 2024

Businesses must innovate and adapt to the changing indirect tax landscape to stay competitive. Corporate tax departments are using technology increasingly as a strategic partner to address these issues. The 2023 State of the Corporate Tax Department study describes this shift as going from a reactive to a proactive state.

corporation tax 59

corporation tax Technology Tax E-commerce 59

CPA Practice

SEPTEMBER 11, 2024

Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% This is about half the increase in 2024, and a significant drop from the 7.1% Bloomberg Tax’s annual Projected U.S. increase in 2023.

Tax 128

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Going Concern

OCTOBER 18, 2024

11 report based on EY’s 2024 Work Reimagined Survey. Why ‘Trust’ in Data is Even More Important in an Era of Global Taxes [ PwC ] We are in a time of unprecedented change in the global tax and compliance landscape — exemplified by the OECD’s Pillar Two. million in false deductions, causing a tax loss of about $2.3

audit 104

audit auditor New York accounting and finance 104

ThomsonReuters

NOVEMBER 4, 2024

← Blog home As corporate tax departments embrace digital transformation, utilizing a tax engine to automate and simplify tax calculations and reporting is becoming a core part of their strategy. TRI 2024 Corporate Tax Report As talent squeeze looms, many companies’ tax functions see technology as the solution.

Technology 52

Technology Tax corporation tax business tax 52

Menzies

DECEMBER 1, 2022

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%. However, if the company changed its year end to 31 March 2023 it would pay tax at 19%.

corporation tax 52

corporation tax Tax chartered accountant accounting firms 52

ThomsonReuters

MAY 21, 2025

This creates an ongoing burden for corporate tax and IT departments, especially when their systems rely on older, more rigid integration frameworks. IDC recognizes ONESOURCE Pageros e-invoicing leadership ONESOURCE Pagero leads the industry, as noted in the IDC MarketScape: European Compliant E-Invoicing 2024 Vendor Assessment.

corporation tax 52

corporation tax Technology B2B accounts payable 52

Withum

JUNE 12, 2024

Taxable income could also increase due to the sunsetting Tax Cuts and Jobs Act provisions, including the capitalization of research and experimental expenditures, bonus depreciation dropping to 60% in 2024 and to 40% in 2025, and the application of a more restrictive interest expense limitation calculation.

income tax 127

income tax Tax corporation tax Non-Profits 127

Menzies

JUNE 26, 2024

Corporation Tax The Conservatives have pledged not to increase corporation tax whilst Labour have promised to cap corporation tax at 25%. The conservatives have committed to investing £1.1 bn into the Green Industries Growth Accelerator.

Manufacturing 52

Manufacturing corporation tax chartered accountant Tax 52

CPA Practice

OCTOBER 14, 2024

The accounting talent shortage is now at a crisis level within the tax and finance functions, as 70% of CFOs and corporate tax executives say they’re feeling the impact of fewer accountants entering the profession while senior cohorts retire, according to the 2024 EY Tax and Finance Operations Survey. In the U.S.,

Finance 111

Finance Tax accounting and finance corporation tax 111

KROST

FEBRUARY 2, 2024

As the tax season begins, it is crucial to gather all forms of tax documentation in preparation for the filing process. We understand that filing taxes can be a very stressful and time-consuming task, and without proper planning, Read the full article.

Tax 81

Tax corporation tax 81

Withum

DECEMBER 17, 2024

The issue surrounding this additional 20% deduction means that owners of S Corporations and Partnerships will see an increase in their taxes by the sunsetting of this extra 20% deduction. It is important to note the TCJA sunsetting will not eliminate the 21% corporate tax rate.

Tax 52

Tax tax planning income tax tax return 52

ThomsonReuters

AUGUST 2, 2023

As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. regulation starting in 2024.

corporation tax 98

corporation tax Tax financial statements Government 98

Menzies

JUNE 26, 2024

In the Labour Party manifesto for 2024, there is a strong emphasis on the importance of investing in the transport and logistics sectors to create jobs and stimulate economic growth. A commitment to capping the Corporation Tax rate at 25% and the full expensing regime is welcome and allows businesses to plan accordingly.

Transportation 52

Transportation chartered accountant corporation tax Government 52

Accounting Today

JUNE 9, 2025

Musk, the biggest political donor of the 2024 campaign, has threatened to help defeat anyone who votes for the legislation, but lawmakers seem to agree that staying in the presidents good graces is the safer path to political survival. All rights reserved.

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CPA Practice

NOVEMBER 6, 2024

This webinar will be held on Thursday, November 21, 2024 at 1:00pm ET Sponsor: CorpNet.com Duration: 1 Hour Register Now It’s best that accountants, CPAs, and tax professionals are up to date on entity advantages to assist their clients in making the best decision when it comes to choosing which entity option is best for their business.

Indiana 59

Indiana CPA Illinois payroll tax 59

CPA Practice

MAY 24, 2024

The American Institute of CPAs (AICPA) submitted comments to the Internal Revenue Service (IRS) containing 189 recommendations regarding the 2024-2025 Guidance Priority Plan.

cpas 64

cpas corporation tax Tax 64

Menzies

SEPTEMBER 19, 2024

With the new Labour Government’s first budget approaching on 30 th October 2024, our Hospitality & Leisure team are looking ahead to what Keir Starmer could do to alleviate the ongoing challenges faced by the sector. in April 2024. Menzies LLP - A leading chartered accountancy firm.

Hospitality 59

Hospitality chartered accountant Government corporation tax 59

Menzies

JUNE 26, 2024

With the UK General Election taking place in just a matter of weeks on 4 July 2024 and the leading parties having released their manifestos, we have summarised below some of the main policy promises that would impact the Hospitality & Leisure sector. Menzies LLP - A leading chartered accountancy firm.

Hospitality 52

Hospitality Maine corporation tax chartered accountant 52

Menzies

JUNE 26, 2024

With the UK General Election taking place in just a matter of weeks on 4 July 2024 and the leading parties having released their manifestos, we have summarised below some of the main policy promises that would impact the Hospitality & Leisure sector. Menzies LLP - A leading chartered accountancy firm.

Hospitality 52

Hospitality Maine corporation tax chartered accountant 52

Wellers Accounting

FEBRUARY 21, 2025

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your bill.

Tax 52

Tax tax planning accounting and finance income tax 52

Ronika Khanna CPA,CA

JUNE 7, 2024

Year end Tax Slips Federal You must prepare a summary of the salaries paid for the year via a T4 slips for which the due date is February 28th of the year following the salary payment E.g. February 28, 2025 for the year ended December 31, 2024. February 28, 2025 for the year ended December 31, 2024.

Tax 98

Tax corporation tax tax return payroll 98

ThomsonReuters

NOVEMBER 1, 2024

Given these potential pitfalls, ensuring a robust and adaptable tax compliance strategy is essential for maintaining a competitive edge. At the Oracle CloudWorld 2024 event, leaders from Thomson Reuters focused on future-proofing your approach to global indirect tax and e-invoicing compliance.

Tax 52

Tax Technology audit income tax 52

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.

corporation tax 52

corporation tax Tax tax return income tax 52

Menzies

JULY 9, 2024

Corporation Tax and Tax Reliefs Labour’s manifesto stated that corporation tax would be capped at 25%, so there are no immediate changes for businesses operating above the £250,000 small profits threshold and it appears unlikely that the lower rate of 19% would be withdrawn, given the importance of SMEs to the economy.

Manufacturing 52

Manufacturing corporation tax chartered accountant Government 52

ThomsonReuters

DECEMBER 5, 2024

In this blog, we will focus specifically on our corporate tax partnerships and alliances, including customer benefits and solutions. As many companies embark on their digital transformation journeys, corporate tax professionals have a unique opportunity to revolutionize their operations through strategic technology upgrades.

Tax 52

Tax corporation tax Technology Legal 52

ThomsonReuters

NOVEMBER 25, 2024

TRI 2024 State of Corporate ESG Report See how businesses are increasingly prioritizing their ESG initiatives to help navigate geopolitical tensions and economic uncertainties. Access report ESG Solutions Expert tools from Thomson Reuters to navigate environmental, social, and governance challenges.

Government 99

Government Non-Profits Legal California 99

ThomsonReuters

JANUARY 9, 2024

Jump to: How are C corporations taxed? When are C corp taxes due? How do C corps file taxes? How can C corporations reduce their taxes? But what does that mean for your taxes? How are C corporations taxed? In 2024, the extension deadline for calendar-year businesses is Oct.

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corporation tax Tax income tax Non-Profits 52