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Exploring key 2024 tax bill proposals

ThomsonReuters

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

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IRS Continues to Issue Guidance for Implementing Clean Energy Tax Credits

Cherry Bekaert

Additionally, the IRS opened access to the pre-filing registration tool for taxpayers and tax-exempt entities looking to monetize IRA and Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act related eligible tax credits. The tax credit is effective for sales that take place after December 31, 2022. per kilogram.

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What is Schedule K-1?

ThomsonReuters

Schedule K-1s, which are tax forms used to report a partner’s or shareholder’s income, losses, capital gain, dividends, etc., K-1s, however, are quite different and can come with some complexities for tax and accounting firms. from the partnership for the tax year. from the partnership for the tax year.

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The Technology Lab Podcast – Review of Audit Technology Trends – July 2023

CPA Practice

And so, you know, I start watching the dollars on a trial balance for a business tax return. How many tax returns? White Paper, is it had an amazing appendix called audit architecture map. And it’s like, oh, really the odd I’m thinking quite a few firms aren’t going to swallow Brian F. How many cops?

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Three ways to ignite productivity and morale at your firm

ThomsonReuters

For accounting firms, automation is perhaps the single most effective and immediate way to achieve greater efficiency, particularly when it comes to eliminating the manual tasks associated with accounts payable/receivable , payroll, tax compliance, and financial reporting. No more manually detecting blank fields or numbers that don’t add up.