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A Crucial Window for Estate Planning: Preparing for 2026 Changes

CPA Practice

The Tax Cuts and Jobs Act of 2017 (TCJA) brought about substantial changes to the tax landscape, significantly increasing the lifetime estate and gift tax exemption amounts ($13.61 This strategy balances the benefits of current tax law with the need for financial flexibility and security. million for individuals and $27.22

Tax 52
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Companies Undertake More Aggressive Tax Positions When IRS Budget is Cut

CPA Practice

A new academic study found that companies increase their tax risk profile—thus more tax aggression and a higher likelihood of tax fraud—when they believe IRS scrutiny will be lower due to budget cuts.

Tax 69
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Super-Deduction Substituted by Full Expensing

Menzies

Menzies LLP - A leading chartered accountancy firm. This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments.

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6 Trends That Are Shaping the Future of Tax and Accounting

Accounting Insight

As digital transformation continues to accelerate the evolution of tax and accounting, the players who expedite their embrace of these six tech trends will have an early mover advantage. The EU will require green energy and carbon footprint financial reporting in 2023, and the US will require it by 2026.

Tax 52
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Navigate tax season with these resources for accountants

ThomsonReuters

Tax and Accounting professionals, listen up! Aren’t you tired of spending countless hours pouring through textbooks and internet searches trying to find the latest tax laws? Enter: Thomson Reuters Tax Season Toolkit. Make life easier and help you stay ahead of the game with the Tax Season Toolkit.

Tax 59
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A guide to effective investments in equipment for manufacturing companies

Menzies

Menzies LLP - A leading chartered accountancy firm. You have identified the new piece of equipment your business needs, it’s worth pausing to consider the best way to structure the purchase and tax can play an important role in the determining the best option for your business. – Should surplus cash be used?

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Super-Deduction Replaced by Full-Expensing

Menzies

Menzies LLP - A leading chartered accountancy firm. This relief is temporary and will end on 31 March 2026 but for companies that take advantage of it will enable up to £250 of each £1,000 of capital spend to be recovered against their tax bill and so potentially significant tax savings are available.