article thumbnail

Can The Senate Finance Committee Save U.S. Research And Innovation?

Withum

Even though the House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 , including the reinstitution of immediate expensing for domestic research expenditures, in a staggering bipartisan vote of 357 to 70, it still remains unclear if the Senate can pass this crucial legislation.

Finance 59
article thumbnail

Crypto Fails To Impress For Corporate Tax Payments

PYMNTS

When the state of Ohio partnered with cryptocurrency company BitPay last year, it meant the state would become the first in the U.S. to allow businesses to pay their corporate taxes in bitcoin. Ohio’s effort signaled a renewed push for corporate adoption of cryptocurrency.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Wirex Rolls Out Beta Version Of Crypto Business Account

PYMNTS

Cryptocurrency and business relationships have been slowly becoming more mainstream. Last year, Ohio partnered with cryptocurrency company BitPay, and the state became first in the U.S. to allow businesses to pay their corporate taxes in bitcoin.

article thumbnail

Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

Tight Job Market in Finance/Accounting, Professionals Settle In After Years of High Turnover: Addison Group [ Staffing Industry Analysis ] Employers looking at hiring finance/accounting professional face a tight job market, according to the 2024 Workforce Planning Guide released by Addison Group.

audit 104
article thumbnail

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

ThomsonReuters

The bill also addresses the treatment of business interest expense, bonus depreciation, and research and experimental costs. Disaster Tax Relief Recognizing the impact of natural and man-made disasters, the legislation provides tax relief for recent hurricanes, flooding, wildfires, and the Ohio rail disaster.

Tax 98
article thumbnail

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

ThomsonReuters

The bill also addresses the treatment of business interest expense, bonus depreciation, and research and experimental costs. Disaster Tax Relief Recognizing the impact of natural and man-made disasters, the legislation provides tax relief for recent hurricanes, flooding, wildfires, and the Ohio rail disaster.

Tax 98
article thumbnail

Bipartisan Senate Tax Plan Would Expand Credits for Businesses, Children, and Low Income Housing

CPA Practice

Senate Finance Chairman Ron Wyden and House Ways and Means Chairman Jason Smith unveiled a roughly $78 billion tax deal Tuesday that would revive a trio of business tax credits, expand the child tax credit and boost low-income housing. aim to pass the tax package before Jan. Wyden, D-Ore., and Smith, R-Mo.,