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Financial vs Tax Accounting

SMBAccountant

One type of accounting that is well-known is tax accounting. According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations.

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Bloomberg Tax & Accounting Unveils Next Generation Suite of Integrated Solutions, Revolutionizing the Corporate Tax Process

CPA Practice

Bloomberg Tax & Accounting has launched its next generation suite of integrated solutions that modernize the corporate tax process, from data collection to tax calculations that power key deliverables. Bloomberg Tax changes the way tax professionals source and prep data using automation.

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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

Close your accounts. You’ve probably already thought about closing your bank accounts, but that’s not the only area where you need to get things sorted. Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts.

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IESBA sets ethics standards for corporate tax planning

Accounting Today

The International Ethics Standards Board for Accountants has unveiled a set of ethical standards for business tax planning in response to complaints over tax avoidance by multinational companies.

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IRS introduces business tax accounts as it targets big corporations for audits

Accounting Today

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

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Improving Workpaper Tools and Processes Could Unlock Opportunities for Corporate Tax Professionals

CPA Practice

Among the key survey findings: More than 92% of corporate tax accountants consider workpapers as critical or very important for supporting the overall tax lifecycle. However, only 36% of tax accountants expressed satisfaction with their current processes and tools for preparing and reviewing workpapers.

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Lost Accounting Data – Emergency Plan for Limited Company Contractors

Cheap Accounting

Some times accountancy data can be lost. They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. The first step in your recovery plan will be to establish a clean starting point – the last date at which you have your accounting data available.

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