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Managing strained accounting firm capabilities

ThomsonReuters

Many of today’s tax and accounting practices are struggling with strained firm capabilities. Based on the findings, the top challenge for accountants is recruitment/retention, at 36 percent. The accounting profession is no stranger to long work hours and hefty workloads, especially during busy tax season.

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Improving wellness for tax and accounting professionals

ThomsonReuters

Why is overall accountant wellness important? Making occupational wellness a priority Tax and accounting professionals are known for working hard, especially during tax season. Why is overall accountant wellness important? Blog 5 tips to manage stress during busy season. Jump to: What is wellness?

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Managing busy season with a shortage of accountants

ThomsonReuters

Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge.

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Understanding the Tax Relief for American Families and Workers Act of 2024

ThomsonReuters

Flexible Income Lookback : Taxpayers can choose to use either current or prior-year income to calculate the child tax credit in 2024 and 2025, providing flexibility in determining eligibility. Inflation Adjustment : Starting in 2024, the child tax credit will be adjusted for inflation to keep up with the rising cost of living.

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House passes the Tax Relief for American Families and Workers Act of 2024

ThomsonReuters

As the bill progresses through the Senate, its potential impact on American taxpayers and the economy remains to be seen.

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House passes the Tax Relief for American Families and Workers Act of 2024

ThomsonReuters

As the bill progresses through the Senate, its potential impact on American taxpayers and the economy remains to be seen.

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Exploring key 2024 tax bill proposals

ThomsonReuters

Tax planning shift s: If passed, this legislation necessitates advising clients on restructuring executive compensation and exploring alternative tax strategies. As these proposals progress, it will be interesting to see how they shape the future of taxation in the United States. Stay tuned for further updates on these developments!

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