ThomsonReuters

AUGUST 25, 2023

Managing corporate tax depreciation Each tax season, business clients turn to their accountant for assistance in navigating corporation tax depreciation and leveraging every tax deduction they can take to minimize their tax liability. Due to the deduction, the IRS would tax the client on $80,000 of income versus $100,000.

corporation tax 98

corporation tax Tax income tax financial statements 98

ThomsonReuters

NOVEMBER 9, 2023

In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background. The data you hold is your firm’s largest asset. Address the talent shortage.

tax planning 105

tax planning accounting firms Tax Account 105

CPA Practice

NOVEMBER 14, 2023

13-15, more than 2,500 accountants learned about many new product and feature innovations that will help them serve their clients through the QuickBooks Online ecosystem. Accountants can build templates from scratch or customize ready-made product-based or service-based business charts of accounts.

quickbooks 119

quickbooks E-commerce Approval Workflows Account 119

ThomsonReuters

DECEMBER 1, 2023

Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for  depreciation  or  amortization  of assets is critical.  In 2023, the special depreciation allowance is 80%. Section 179 and expensing property Running a company is expensive.

tax return 97

tax return Tax Transportation Non-Profits 97

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. Make sure to check them out, as well as our other exhibitors, as you explore Xerocon 2023.

bookkeeping 91

bookkeeping E-commerce Tax Account 91

ThomsonReuters

DECEMBER 28, 2023

But fear not, we’re here to lighten the mood and bring you the top three webcasts that made navigating the twists and turns of the tax and accounting industry a little less taxing (pun intended). So, let’s dive in and discover the webcasts that have made a significant impact in 2023.

Tax 59

Tax Account accountant accounted 59

Xero

JUNE 21, 2023

You win, or you learn – that’s one of Tennick Accountants’ internal mottos, and one that encouraged the firm to put themselves in the running and enter the 2023 Xero Awards UK & Ireland. The Small Firm of the Year award celebrates the Xero accounting or bookkeeping partners that have cracked the formula for success.

Account 118

Account accountant accounted accounting and finance 118

CPA Practice

MARCH 31, 2023

Technology continues to be a driver of growth for today’s successful accounting practices, and professionals know it, with a recent survey showing that 86% of respondents agree that technology will play a significant role in the growth and expansion of their practices in the next year. The survey was sponsored by Intuit Inc.,

Technology 128

Technology quickbooks Account accountant 128

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

DECEMBER 19, 2023

Overview of clean energy credits by energy type Helping clients with renewable energy credits In recent years, the U.S. For accountants, understanding renewable energy tax credits and how they relate to individuals and businesses is essential in helping clients maximize their tax benefits.

Tax 110

Tax accounting and finance Manufacturing income tax 110

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

ThomsonReuters

FEBRUARY 8, 2024

Jump to: Unlocking the power of advisory tools Deliver advisory engagements with Checkpoint Edge Advisory Maps Grow your firm with Practice Forward Advisory tools have emerged as transformative forces in the tax and accounting profession, empowering firms of all sizes to deliver efficient and effective services to their clients.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

AUGUST 25, 2023

Given the complexities that can come with software tax depreciation, it is important to understand the tax implications and deduction opportunities when it comes to your business clients and the use of software in running their business. Depreciation and amortization are essentially the same concepts in accounting.

Tax 97

Tax Technology Manufacturing payroll 97

Xero

OCTOBER 9, 2023

We are pleased to share the key findings from our study of the accounting and bookkeeping sector in Aotearoa New Zealand. The State of the industry report 2023 is the first of its kind in Aotearoa New Zealand and benchmarks the industry, highlighting key trends, challenges, and opportunities faced by accounting and bookkeeping professionals.

bookkeeping 68

bookkeeping Agriculture Hospitality Construction 68

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. How to engage with clients on 401(k) tax considerations What are the taxes on 401(k) withdrawals? Is a 401(k) pre-tax?

Tax 52

Tax income tax tax preparation Account 52

Xero

JULY 13, 2023

Sempar Accountancy and Tax have been crowned the Xero Mid-size Firm of the Year at the 2023 Xero Awards for UK and Ireland. This award recognises their innovative practice and unwavering commitment to delivering exceptional client service.

Technology 79

Technology Tax Account accountant 79

ThomsonReuters

JUNE 16, 2023

Is your firm running its gears on outdated accounting technology? Given the ever-changing regulatory landscape , increase in client expectations , and ongoing war on talent , keeping pace is imperative. How do you know when your accounting technology is outdated? What are the risks of using outdated accounting software?

Technology 98

Technology Account accountant accounted 98

ThomsonReuters

JANUARY 25, 2024

Jump to: Moving beyond technology implementation Picking the right technology is just the start How to keep tax department tech effective From the pandemic to regulatory changes to economic shifts, numerous industries have adjusted how they operate, how they use technology, and how they engage with clients.

Technology 98

Technology Tax corporation tax Start-ups 98

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? Accountant responsibilities extend far beyond number crunching.

Account 59

Account accountant accounted tax preparation 59

ThomsonReuters

JUNE 29, 2023

Managing tax clients isn ’ t always easy. Providing good customer service is essential to growing your tax and accounting practice but, as many professionals have come to realize, dealing with difficult clients can be hard. Behaviors of challenging tax clients The customer is always right. Or are they?

Tax 97

Tax Account accountant accounted 97

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. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly. Firms need to guide clients on restructuring estate plans to optimize asset distribution.

Tax 110

Tax tax return Technology income tax 110

CPA Practice

SEPTEMBER 12, 2023

Take the questions your clients have been asking all year and cluster them into topics. You could send a client survey to identify what they are interested in. I then looked at the 2023 article “ Top 8 challenges keeping small business owners up at night ,” by Becker’s ASC Review and found these topics. Think like your customer.

cpa firm 115

cpa firm CPA accounting and finance cpas 115

ThomsonReuters

DECEMBER 19, 2023

How to claim electric vehicle tax credits Helping your clients with EV tax credits As the world shifts towards sustainable transportation, the IRS and many states are incentivizing the adoption of electric vehicles (EVs) through various tax credits. Purchases made before 2023 don’t qualify.

Tax 52

Tax Colorado accounting and finance tax return 52

ThomsonReuters

JUNE 29, 2023

How’s your accounting firm? Like any company, your firm faces daily accounting problems that are part of normal operations : staffing, client acquisition, cash flow, and profit management. But as part of the accounting industry, your firm encounters unique challenges based on the services you provide.

Account 98

Account accountant accounted Technology 98

Xero

JUNE 29, 2023

Established in 2015, Accounts and Legal has always had one mission – to make the lives of business-owners simpler. Max Whitely, Head of Accounts Manchester for Accounts and Legal, explains: “In the space of four years, we’ve grown from being a small to a large firm and it feels like we’ve not even come up for air at times!”

Legal 86

Legal Account accountant accounted 86

ThomsonReuters

JANUARY 4, 2024

Take advantage of wellness benefits The numbers are in, and they reinforce the mental health challenges facing accountants. Nearly 9 in 10 accountants want a better work-life balance, while just over 70 percent would like more help from their organizations to manage mental health, according to ACCA’s Global Trends Survey 2023.

Tax 71

Tax Technology payroll tax accounting careers 71

Xero

DECEMBER 1, 2023

Here’s a guide outlining what the announcement means for your practice and clients. Your clients earning below £30,000 can still voluntarily register for MTD for ITSA – providing they have compliant software in place. This means less admin for practices and clients alike.

Tax 88

Tax income tax bookkeeping accounting software 88

Accounting Insight

MAY 31, 2023

Awards recognize 50 exceptional women who are changemakers in the accounting industry Fifty i nspiring women from across the globe have been recognized in Ignition’s 2023 Women in Accounting awards. Ignition first launched the Women in Accounting awards in 2018.

Account 52

Account accountant accounted accounting and finance 52

ThomsonReuters

JANUARY 16, 2024

Jump to: What are the benefits of remote 1040 client collaboration? But have you considered how your firm’s technology supports remote client collaboration ? What are the benefits of remote 1040 client collaboration? Remember, knowing your clients is key. Engaged taxpayers are essential to a well-managed busy season.

Tax 52

Tax Technology tax preparation accounting and finance 52

ThomsonReuters

JULY 11, 2023

Accounting firms turn to a three-tiered approach to uncover opportunities Accounting firms are severely impacted by the dynamic post-pandemic economy. Firms are faced with the external challenges of meeting new client demands, increasing compliance pressures, and tax law changes. According to Revelio Labs Inc.,

Technology 73

Technology Account accountant accounted 73

ThomsonReuters

DECEMBER 19, 2023

Because tax credits are available for a wide variety of energy efficient upgrades, accountants play a pivotal role in guiding clients through claiming these tax credits, ensuring compliance with eligibility criteria, and meeting documentation requirements. What is ENERGY STAR?

Tax 52

Tax accounting and finance tax return Manufacturing 52

ThomsonReuters

JUNE 16, 2023

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. Is your firm ready?

Account 110

Account accountant accounted Technology 110

ThomsonReuters

MAY 9, 2023

The 2023 State of the Tax Professionals Report sheds light on the current state of the tax industry and how firms are adjusting to meet the demands of an ever-evolving profession. The post New focus for tax firm leaders: 2023 Tax Professionals Report summary appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Tax 52

Tax tax preparation Account accountant 52

Nancy McClelland, LLC

MARCH 22, 2024

As of July 31, 2023, the IRS Criminal Investigation division had initiated 252 investigations involving over $2.8 As a result, these scams topped the list of the IRS “Dirty Dozen” in 2023. Considering that more than 3.6 billion of potentially fraudulent ERC claims. ” And this makes sense.

Tax 52

Tax tax preparation CPA audit 52

ThomsonReuters

NOVEMBER 21, 2023

Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning. Take stock of the topics you commonly address with clients at year-end.

tax planning 52

tax planning Tax payroll tax Education 52

Xero

NOVEMBER 23, 2022

What an incredible day it was, meeting the more than 750 accountants and bookkeepers who showed up to engage with the community, share their knowledge and expertise. As we continue to face significant volatility and uncertainty in our macro environment, these areas will remain top of mind for our customers and clients.

bookkeeping 79

bookkeeping Education accounting and finance payroll 79

Xero

MAY 29, 2023

Back for another year, the Xero Singapore Awards are all about celebrating the incredible commitment and achievements of our accounting and bookkeeping partners who work tirelessly to help Singapore small businesses thrive. Focus on value creation, for everyone from clients to your employees and the community at large.

bookkeeping 67

bookkeeping Construction Manufacturing Education 67