ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. The following guide offers numerous strategies and tips that owners of S corporations can use to lower their taxes, including deductions and credits.

corporation tax 52

corporation tax Tax tax return income tax 52

ThomsonReuters

DECEMBER 1, 2023

Jump to: What is Form 4562? What is listed property for depreciation? What does a depreciation schedule look like? What is Form 4562? Form 4562 instructions Is Form 4562 required every year? Section 179 and expensing property Running a company is expensive. Let’s take a closer look at the form and its uses.

tax return 97

tax return Tax Transportation Non-Profits 97

ThomsonReuters

JULY 6, 2023

If you are an accounting professional who has been contemplating a change in career path, you’re not alone. Accountants have the knowledge and experience necessary to work as trusted advisors to the public or within a company, so your certification qualifies you for a variety of career paths. Why are so many accountants quitting?

Account 98

Account accountant accounted accounting and finance 98

ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? Which is better: a C corp, S corp, or LLC? What is a C corporation? What is an S corporation? When is it better to create an LLC instead of a C corp or S corp? What is an LLC? What are the main types of business ownership?

income tax 75

income tax Tax Legal tax return 75

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

Account accountant accounted Tax 52

ThomsonReuters

JUNE 28, 2023

Let’s take a look at some best practices accounting firms can use to help clients overcome the challenges of ESG data collection and management. What are the challenges of ESG data collection? But that’s where your expertise comes in. What are the best practices for ESG data management?

Tax 98

Tax auditor audit Technology 98

ThomsonReuters

OCTOBER 4, 2023

Jump to: How many accounting firms use AI? How do smaller accounting firms use AI? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. How many accounting firms use AI? How do the Big 4 use artificial intelligence? For now, not many.

accounting firms 111

accounting firms Account accountant accounted 111

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

AUGUST 2, 2023

As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. Pillar 2.0

corporation tax 98

corporation tax Tax financial statements Government 98

ThomsonReuters

JULY 6, 2023

However, corporate tax teams find it difficult to automate this process. What are APIs and how do they work? For example, a developer could use an API to send a request for updated stock prices from another application’s database. The developer’s application would then use the response and display it accordingly.

Tax 92

Tax general ledger corporation tax audit 92

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? What is direct tax? What does this mean? The more common types of direct tax are: Individual income tax Corporate income tax Capital gains tax Estate tax Property tax Payroll tax Individual income tax One type of direct tax is individual income tax, which is also known as personal income tax.

Tax 52

Tax income tax payroll tax payroll 52

Xero

AUGUST 7, 2023

Xerocon Sydney is just weeks away on 23 and 24 August, and the ICC exhibitor floor will be full to the brim with some of the best and most loved apps, tools and services for accountants, bookkeepers and small businesses. We’re excited to introduce to you our incredible Event Partners for this year’s event.

bookkeeping 91

bookkeeping E-commerce Tax Account 91

ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Recording expenses and preparing financial reports.

Account 59

Account accountant accounted tax preparation 59

Acterys

JULY 12, 2023

This blog will guide you on what vertical analysis is, how to perform it, and how it can help your business to scale through data-driven decisions. What is vertical analysis? Each of these statements offers unique perspectives on a company’s financial situation.

financial statements 130

financial statements accounting and finance accounts payable Sales 130

ThomsonReuters

AUGUST 16, 2022

Specifically, Schedules K-2 and K-3 for Form 1065, Partners’ Distributive Share Items—International, Schedules K-2 and K-3 for Form 1120-S, Shareholders’ Pro Rata Share Items—International; and. The Schedules apply to domestic partnerships and S corporations that are directly or indirectly engaged in foreign activities and U.S.

Tax 98

Tax tax return tax planning Account 98

Ryan Lazanis

SEPTEMBER 19, 2023

In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. Let’s go! Remember, clients always look for what’s in it for them. If you just talk about yourself, your values, etc.,

Account 98

Account accountant accounted bookkeeping 98

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are green taxes? Current ESG tax credits and initiatives What are the benefits of an ESG tax strategy? Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. What are green taxes? How are environmental taxes calculated?

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

JANUARY 24, 2023

stated that more than 90 percent of S&P 500 companies now publish ESG reports in some form, as do approximately 70 percent of Russell 1000 companies. While ESG reporting can help strengthen trust with stakeholders and the reputation of corporations , this can only be done when the ESG information is of high quality and reliable.

audit 59

audit auditor Tax accounting firms 59

ThomsonReuters

DECEMBER 29, 2022

Companies are facing an ever-increasing burden of corporate tax compliance and the pace of complexities shows no sign of slowing. Helping companies ensure compliance by outsourcing for business processes represents a growth opportunity for today’s tax and accounting firms. . “ percent from 2022 to 2030.

corporation tax 59

corporation tax Tax income tax tax return 59

ThomsonReuters

NOVEMBER 15, 2023

In a recent webinar moderated by SupplyChainBrain editor-in-chief Bob Bowman , a panel of global trade experts gathered to discuss the Thomson Reuters 2023 Corporate Trade Survey Report , which explores how global trade professionals are thinking about the issues they face and what their current management priorities are.

Georgia 94

Georgia Technology Government Legal 94

Acterys

FEBRUARY 22, 2023

In this blog, we look at three main reporting types that FP&A teams must use to monitor the financial health and performance of a business. Type 1: Financial Statements Financial statements are a set of foundational reports that provide an overview of a company’s financial position and performance.

financial statements 130

financial statements accounting and finance Sales Finance 130

ThomsonReuters

JUNE 14, 2021

Each year, more than 40 million Schedule K-1 (Form 1065) are sent to US taxpayers, reporting income and other financial information stemming from their participation in partnerships, S corporations, and trusts. In fact, it’s often one of the last tax documents to be received by the taxpayer.

Technology 98

Technology corporation tax Tax Real Estate 98

ThomsonReuters

FEBRUARY 13, 2024

So it’s important to understand what it is, and how it can help companies that engage in global trade. AI’s role in international trade Against this backdrop, finding ways to make processes more efficient and being able to surface actionable insights easily can play a big part in improving international compliance programs.

Technology 52

Technology Legal Government Tax 52

Going Concern

MAY 30, 2023

FT dropped this over the weekend : Candidate numbers for US accountancy exams drop to lowest in 17 years New figures from the American Institute of Certified Public Accountants showed the shortage of CPA candidates that has plagued the profession in recent years worsened in 2022, dashing hopes for a quick rebound from the pandemic.

CPA 98

CPA institute of chartered accountants Government chartered accountant 98

ThomsonReuters

FEBRUARY 14, 2022

Every tax and accounting firm is unique, so there’s really no one-size-fits-all approach to hiring. Understanding your company culture is a useful step in finding a new accountant who is the right fit for your firm. Would you describe your workplace as ultra-corporate or casual? What is it you’re looking for?

Account 92

Account accountant accounted accounting firms 92

ThomsonReuters

APRIL 4, 2024

We have seen change come over and over, but we never believed it,” Nagalkar said during the Direct Tax Horizon webinar, “Now it’s the time where we are seeing the step change in multiple areas.” . Firms that fail to meet regulatory requirements risk severe financial, operational, and reputational harm. “So what do you do?

Technology 52

Technology Tax tax return Government 52

Xero

AUGUST 25, 2022

It’s so important that we connect with our communities to understand why they choose Xero, what is working well, and where we can improve. Read more about these announcements in Anna’s blog post. I had the pleasure of interviewing Rashida on my podcast, What Led You Here last year, so it was great to connect with her again. .

bookkeeping 70

bookkeeping Entertainment Maine Sales 70

ThomsonReuters

MARCH 5, 2024

As these provisions approach their expiration date, it’s important for businesses to prepare accordingly. “Previously, you were able to account [for] the cost of travel, the moving of household goods, mileage to the new location, [and] house hunting trips,” Rose started. 199A TCJA provision is let to expire.

Tax 98

Tax payroll Expense Reimbursements Gaming 98

ThomsonReuters

JANUARY 30, 2023

As the burden of corporate tax compliance mounts, companies are increasingly turning to tax and accounting firms for help in complying with direct tax requirements. That ’ s why it is essential for firms to have a robust corporate tax technology platform in place.

Tax 59

Tax corporation tax Technology tax return 59

ThomsonReuters

FEBRUARY 20, 2024

Jump to: What are general anti-avoidance rules (GAAR)? What is the general anti-abuse rule? To help today’s corporate tax professionals better understand some of the methods implemented to thwart abusive tax planning, this article will take a closer look at GAAR and how to keep up with tax avoidance regulation. Does the U.S.

income tax 52

income tax corporation tax Tax tax planning 52

ThomsonReuters

JULY 5, 2023

Find out about best practices and how to set up an FTZ in a Thomson Reuters webinar What are the benefits of a Foreign Trade Zone? “The first thing a company interested in starting an FTZ should do is a feasibility analysis to make sure they know what areas of an FTZ program can benefit them,” says Berry. .

Start-ups 88

Start-ups Manufacturing Education Tax 88

ThomsonReuters

JANUARY 4, 2024

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead.

tax planning 78

tax planning Tax Technology tax return 78

Withum

SEPTEMBER 14, 2022

Subchapter S corporation reasonable compensation : Perhaps the worst kept secret in entity planning is using a S corporation rather than an LLC or sole proprietorship. Income from S corporations, unlike that of partnerships, LLCs or sole proprietorships, is not subject to self-employment tax.

Tax 106

Tax tax return audit Entertainment 106

MazumaBusinessAccounting

MAY 10, 2021

Even though we’re accountants, we get that financial reports aren’t at the top of every small business owner’s to do list. But whether you keep your own books or employ the services of a bookkeeper or accountant, understanding the numbers can help your small business just as much as it could help a large corporation.

bookkeeping 98

bookkeeping accounting terms business accounting Account 98

ThomsonReuters

OCTOBER 12, 2023

Jump to: What foreign assets should be reported to the IRS? What is Form 8938 and when is it required? For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. Generally, any U.S.

Real Estate 40

Real Estate tax return Tax tax preparation 40

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are the tax credits available for electric vehicles? For accountants, understanding these tax credits is essential in ensuring clients make the most of their investment in clean vehicles. What are the tax credits available for electric vehicles? How does the electric vehicle tax credit work?

Tax 52

Tax Colorado accounting and finance tax return 52

Xero

NOVEMBER 29, 2022

We spoke to Jan Korecky, co-founder of Datamolino, about their story and how they make lives easier for business owners and their accountants. Datamolino got its start when Jan and fellow co-founder Andrej Glezl noticed the amount of manual and repetitive admin tasks that accountants and bookkeepers perform day-to-day. “We

Accounts Payable Automation 76

Accounts Payable Automation accounts payable bookkeeping Start-ups 76