article thumbnail

Meeting the Staffing Demands: How Automation is Transforming Accounting Firms

CPA Practice

The demand for skilled tax practitioners in the accounting profession has never been more critical. It provides essential services due to the complexity of tax laws and the importance of offering valuable tax-saving advice to clients; and that’s just the tax half of the industry.

article thumbnail

Spring Budget 2024 – Transport and Logistics Sector Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. TAX INCENTIVES Whilst the further reduction to Employees NIC is part of a wider strategy to encourage people back to work will be welcomed by individuals, it wont change the costs for business owners. In fact, with national minimum wage jumping up 9.8%

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CPAs to Clients: The IRS is Coming for Cryptocurrency

CPA Practice

Most of our clients are dabbling in it through platforms like Robinhood Crypto,” said Elizabeth “Li” Connolly, a firm partner. “One Crypto mining operations—the process of creating new digital coins—have unique tax issues because the rules aren’t clear if miners are taxed as cryptocurrency investors or business owners.

cpas 98
article thumbnail

Extending Outsourcing Contracts Can Alleviate Shortage of CPAs

CPA Practice

accounting profession is facing a severe shortage of certified accountants. Projections indicate that demand for accountants and auditors will increase by 13% between 2021 and 2031, with an estimated 136,400 job openings between 2021 and 2023. The Causes of the Shortage The shortage of certified accountants in the U.S.

cpas 69
article thumbnail

Friday Footnotes: PwC Slashes Partner Class; Accounting Firm Rescues Dog; Do We Still Need CPAs? | 4.19.24

Going Concern

consulting partners by more than 50% compared with last year as demand for advisory services continues to slow and the firm reorganizes its business lines. The Big Four accounting firm is considering adding about 85 U.S. Ardoino stated, “None of the Big Four firms are willing to audit us.”

cpas 87
article thumbnail

From electric vehicles to solar panels: recommending “go-green” tax incentives to accounting clients

ThomsonReuters

If your tax and accounting firm’s clients are concerned about increasing gas and energy costs, “go-green” tax credits will reduce their carbon footprint and save them money in the long run. Electric vehicle (EV) tax credits. Electric vehicle (EV) tax credits. 30D , claimed on Form 8936 ).

Tax 52