ThomsonReuters

DECEMBER 11, 2023

Jump to: What is the proportional amortization method? What are LIHTC investments? What conditions must be met to apply the proportional amortization method? What is the proportional amortization method? For public business entities, the amendments are effective for fiscal years beginning after Dec.

income tax 52

income tax accounting standards Non-Profits accounting and finance 52

Shay CPA

FEBRUARY 28, 2024

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. That can give you and your accountant a good foundation to build on for this year. Amazon, Staples) Payroll (e.g.,

Tax 52

Tax CPA bookkeeping tax preparation 52

ThomsonReuters

MARCH 5, 2024

Jump to: What is Form 1042 and who must file? What information is needed to file Form 1042? What are the new changes to 1042 filing requirements? Therefore, it is important to have a clearer understanding of Form 1042 and what is required. What is Form 1042 and who must file? When is Form 1042 due?

Account 52

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ThomsonReuters

DECEMBER 7, 2023

Jump to: What is the difference between amortization and depreciation? What is the difference between amortization and capitalization? What is the difference between amortization and depreciation? What is the difference between amortization and depreciation? Enter amortization and depreciation.

Non-Profits 98

Non-Profits Tax tax return Account 98

ThomsonReuters

OCTOBER 12, 2023

For accountants, providing comprehensive and personalized tax advice to U.S. What is the tax exemption for U.S. tax liability. What tax form does a U.S. Report foreign financial accounts. Paying taxes on money earned abroad Avoiding double taxation Helping clients who live abroad with their taxes U.S.

Tax 75

Tax tax return income tax tax preparation 75

ThomsonReuters

APRIL 25, 2024

When it comes to navigating the tax landscape of 401(k) contributions and withdrawals, it’s important for accountants to stay informed and help clients make tax-efficient decisions during their retirement years. What are some 401(k) tax benefits? What is the 401(k) tax limit? Jump to: Is a 401(k) pre-tax? How is a 401(k) taxed?

Tax 52

Tax income tax tax preparation Account 52

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. That’s why many accountants are embracing the profitable shift to tax advisory services. That’s why many accountants are embracing the profitable shift to tax advisory services.

Tax 98

Tax tax return income tax audit 98

ThomsonReuters

OCTOBER 19, 2023

The law was largely ignored by accounting professionals at first. Companies are looking for more information on the Corporate Transparency Act, how it affects their operations, and what the details of the reporting requirements are. Who does the Corporate Transparency Act affect? Who needs to file?

Non-Profits 111

Non-Profits Tax accounting firms Account 111

ThomsonReuters

DECEMBER 19, 2023

What renewable energy tax incentives does the IRS offer for individuals vs. businesses? For accountants, understanding renewable energy tax credits and how they relate to individuals and businesses is essential in helping clients maximize their tax benefits. Jump to: How do renewable energy tax credits work?

Tax 110

Tax accounting and finance Manufacturing income tax 110

ThomsonReuters

JUNE 29, 2022

So, what are employment taxes? For smaller employers with a low employment tax liability, the IRS will allow for the annual deposit and filing of these taxes. There is also a next-day deposit requirement if an employer’s tax liability reaches a certain threshold during a deposit period. This edition’s question.

payroll 97

payroll Tax tax return income tax 97

ThomsonReuters

SEPTEMBER 7, 2023

Jump to: What is the additional child tax credit? What is the additional child tax credit? The additional child tax credit is an extension of the child tax credit and is designed to assist families who might not fully benefit from the regular child tax credit due to their low tax liability. What is a Schedule 8812 U.S.

Tax 52

Tax tax preparation income tax tax return 52

Accounting Insight

MARCH 31, 2023

To add foundations to your ambitions, you need carbon accounting… What is carbon accounting? The term ‘carbon accounting’ summarises the process of getting said evidence. In our Charting the path to net-zero for businesses blog we showed that calculating emissions is a key stage in getting to net-zero.

Account 59

Account accountant accounted audit 59

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What are the GAAP accounting rules? What are the main principles of the GAAP framework? What are the key differences between GAAP and IFRS? What are the GAAP rules for capitalization of costs? What are the main consolidation models under GAAP? So, what are the GAAP accounting rules?

Non-Profits 52

Non-Profits accounting standards Maine accounting and finance 52

ThomsonReuters

APRIL 6, 2023

Whether you’re an accounting student, a recent college grad, or a small business owner, you may have questions about what accounts payable is, how it works, and best practices. As an important indicator of the health of a business, accounts payable is a gauge of cash flow. Is accounts payable a revenue?

accounts payable 52

accounts payable Account accountant accounted 52

ThomsonReuters

FEBRUARY 28, 2024

Alicia Shaul ’s path to accounting was less than traditional. No matter what the culture of the firm is, you will be successful, the professor said. A culture of happiness and growth In the six years after she became a CPA, Shaul worked at several accounting firms and experienced some less-than-ideal managers. ‘Yes,

cpa firm 98

cpa firm CPA Non-Profits financial statements 98

DuctTapeMarketing

JULY 14, 2018

Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Handle payments and manage accounts payable. Setting up your chart of accounts to be tax-ready from the start will help you with tax saving opportunities and help you prepare for your tax liabilities, with no surprises.

bookkeeping 238

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CPA Practice

OCTOBER 31, 2023

This article first appeared on the Thomson Reuters blog. recruitment and/or hiring tool, then carefully review the contract to understand what, if any, indemnities or other protections you’re getting from a vendor to understand your legal risks should a legal challenge to your use of A.I. Used with permission. tools for hiring workers.

Legal 116

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ThomsonReuters

JUNE 16, 2023

When one thinks of accounting fraud, it is likely that these are some of the cases that come to mind. However, most cases of accounting fraud will not make news headlines and can happen in companies of all sizes and industries. When someone is found guilty of committing accounting fraud, they are subject to criminal prosecution.

Account 93

Account accountant accounted financial statements 93

ThomsonReuters

FEBRUARY 9, 2024

In this blog, we will dive into the details of four notable tax laws that have been introduced into legislation and deserve our attention. What does this mean for my firm? Firms must prepare for potential shifts in tax liabilities and advise clients accordingly. What does this mean for my firm?

Tax 110

Tax tax return Technology income tax 110

ThomsonReuters

FEBRUARY 21, 2023

To help firms achieve greater growth and profitability , we will explore five ways accounting professionals can think like a marketer. Know your target audience Knowing your target audience means understanding who your ideal clients are and what factors make them ideal. This will also mean less stress for you and your staff.

Tax 104

Tax Account accountant accounted 104

ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? What is a C corporation? What is an S corporation? What is an LLC? Many entrepreneurs wonder what types of business ownerships are possible and how to determine which one is right for their business. What are the main types of business ownership?

income tax 75

income tax Tax Legal tax return 75

TaxConnex

APRIL 27, 2021

And it takes just a few mistakes to add up to a big liability and hefty fees. In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Figuring out where you have nexus is key to determining your sales tax liability. Not evaluating economic nexus. How is it delivered?

Sales 130

Sales Tax Wisconsin Missouri 130

ThomsonReuters

NOVEMBER 29, 2023

Technology and automation can absolutely help increase efficiency in corporate tax departments, especially when it comes to mitigating tax risk and liability and guarding reputational risk. Unfortunately, many tax departments are feeling a strain on their resources as a result of these events.

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ThomsonReuters

JUNE 16, 2023

The IRS defines the gross tax gap as “the difference between estimated “true” tax liability for a given period and the amount of tax that is paid on time.” Based on IRS projections for 2017-2019, the estimated average gross tax gap is projected to be $540 billion per year. What is tax regulatory compliance?

Tax 97

Tax tax return audit auditor 97

Basis 365

FEBRUARY 20, 2023

A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. This blog post will discuss the importance of an accurate balance sheet and why outsourcing accounting services can be the best option for small businesses. What is a Balance Sheet?

accounting and finance 52

accounting and finance financial statements accounting standards accounting principles 52

ThomsonReuters

OCTOBER 19, 2023

Jump to: What is amortization of a bond? How to calculate bond amortization What is a sinking fund? In this article, we’ll explore what bond amortization means, how to calculate it, and more. What is amortization of a bond? What are the benefits of bond amortization? Are bonds payable amortized?

auditor 52

auditor Tax accounting and finance Account 52

SkagitCountyTaxServices

JANUARY 5, 2024

So, what are some of your goals for 2024? Now, now part one of this topic (which you can find in the blog archives) was about selling your business and some of the practical considerations that should play into decision-making. This strategy can significantly reduce your tax liability.

Tax 75

Tax financial statements Sales Legal 75

ThomsonReuters

OCTOBER 31, 2023

Jump to: What is depletion expense? Excavating natural resources is a costly venture, and helping your clients save money and mitigate their tax liability is important. What is depletion expense? Who can claim depletion expenses? One method to achieve this is depletion expense. Let’s take a closer look.

Tax 59

Tax tax preparation Legal Account 59

ThomsonReuters

SEPTEMBER 7, 2023

Jump to: What is the child tax credit? What is the advance child tax credit? What is the difference between the child tax credit and the child and dependent care credit? Which tax software can accountants use for calculating the child tax credit? Who qualifies for the child tax credit?

Tax 52

Tax tax return income tax tax preparation 52

Shay CPA

FEBRUARY 15, 2023

Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. That can give you and your accountant a good foundation to build on for this year. Amazon, Staples) Payroll (e.g.,

Tax 52

Tax CPA bookkeeping tax preparation 52

ThomsonReuters

FEBRUARY 20, 2024

Jump to: What are general anti-avoidance rules (GAAR)? What is the general anti-abuse rule? What are general anti-avoidance rules (GAAR)? In other words, what is considered to be “tax avoidance” can be interpreted and defined differently by different people. A reduction in a liability to pay a tax. Does the U.S.

income tax 52

income tax corporation tax Tax tax planning 52

ThomsonReuters

APRIL 18, 2023

For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? For business owners, payroll is complex and often their greatest expense. for partners). However, those dates are partly determined by the total taxes employers report on Form 941.

payroll 107

payroll payroll tax Tax audit 107

Withum

JUNE 22, 2023

Both blogs are combined here with some editing, and I am reposting it with the hope that they will do something. I also know more than a few other people that are in a similar situation, and I will call them and send a link to this blog trying to get them to get it done. Please follow through. This is important stuff.

Start-ups 59

Start-ups accounting and finance CPA Legal 59

Basis 365

MARCH 23, 2023

A balance sheet is a financial statement that shows your business's assets, liabilities, and equity at a specific time. This blog post will discuss the importance of an accurate balance sheet and why outsourcing accounting services can be the best option for businesses. What is a Balance Sheet?

financial statements 52

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ThomsonReuters

JULY 6, 2023

What are APIs and how do they work? What are the benefits of tax provision software? Additionally, APIs provide a way for tax professionals to access real-time data for analysis, which can help them make better decisions about their company’s tax liabilities. APIs have rules.

Tax 92

Tax general ledger corporation tax audit 92

ThomsonReuters

JUNE 23, 2022

A health plan is not excused from liability for noncompliance merely because it has contracted with a business associate to conduct the transactions. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. QUESTION: We are a TPA that administers claims for self-insured group health plans.

Tax 98

Tax Account accountant accounted 98

ThomsonReuters

APRIL 25, 2024

As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. Consider factors like the timing and amount of withdrawals to minimize tax liability over the long term. Convert to a Roth IRA. Consider pension and annuity payments.

Tax 52

Tax Account accountant accounted 52