ThomsonReuters

APRIL 8, 2024

The mounting stress experienced by tax professionals related to the tax provision process is a double-edged sword. The tax profession, overall, is facing some significant changes,” says Kelley Lear , Vice President, Partnerships & Alliances, Thomson Reuters, pointing to data complexities and changing regulatory relationships. “The

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Cherry Bekaert

JANUARY 10, 2024

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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ThomsonReuters

JULY 13, 2023

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. Boost tax workflow efficiency through automation Empower and engage staff Wow clients with enhanced services 1.

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ThomsonReuters

JANUARY 9, 2024

Designed to prevent the practice of moving profits to lower tax jurisdictions, under the new “Pillar Two” rules , companies whose revenues exceed €750m will have to pay a minimum tax rate of 15% in each country where they do business. We already have Excel and tax provision software, so why can’t we use that?

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ThomsonReuters

MARCH 20, 2024

Tax professionals involved in omnichannel retail industries face an unprecedented number of challenges these days. Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets.

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ThomsonReuters

FEBRUARY 29, 2024

Upon completion of the joint-degree BBA and MS program, Lanphier was recruited by Deloitte to work in their international tax group. Like most accounting firms, they were heavily transactions-focused with clients utilizing them mostly as bookkeepers and for doing their tax returns.

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TaxConnex

MARCH 3, 2022

Understanding the taxability of your company’s products or services is one of the key steps to complying with sales and use tax laws. Services continue to pop up among states’ lawmakers as a potential new source of sales tax revenue. legislation that excludes some payment processing services from tax. Recent developments.

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ThomsonReuters

FEBRUARY 5, 2024

Unleashing the power of tax automation One of the most promising solutions today is the growing opportunities for tax automation. The benefits of embracing tax automation include: Enhanced efficiency. The post Unleash the power of tax automation appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

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ThomsonReuters

JANUARY 16, 2024

Making occupational wellness a priority Tax and accounting professionals are known for working hard, especially during tax season. Check out our   self-care blog series   to learn more about actionable strategies on how to take care of yourself through the busy tax season and throughout the year. Jump to: What is wellness?

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ThomsonReuters

FEBRUARY 26, 2024

Upon graduation, Heath worked for one of Nebraska’s largest sole CPA tax practitioners, who not only taught her the accounting business but became a true mentor to her. It was working there that she realized there was a great need and lots of opportunity for tax services professionals in her existing community.

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ThomsonReuters

JULY 25, 2023

A company’s decision to introduce indirect tax (IDT) automation into its tax processes is often fraught with indecision and uncertainty. Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be.

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TaxConnex

APRIL 28, 2022

Audits remain an important tool for tax jurisdictions to evaluate the level, or lack thereof, of sales tax compliance within a business. Even though many audits have shifted to remote audit, the fundamentals of the sales tax audit haven’t changed. Top 10 Tips for Managing Sales Tax Audits. Fear and loathing. support and?can

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ThomsonReuters

APRIL 2, 2024

While the exact details of the investigation remain undisclosed, the IRS’s involvement suggests potential tax evasion and money laundering charges. In the case of the investigation into Shohei Ohtani’s former interpreter, the IRS’s involvement suggests that there may be evidence of tax evasion or money laundering.

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ThomsonReuters

OCTOBER 24, 2023

Data is king in today’s fast-paced world of finance and tax. Yet, for many companies, the journey of data from disparate sources to financial close, tax returns, and reporting can be torturous. Fortunately, tax departments are not powerless. based CFO Consultants, in a blog post. based CFO Consultants, in a blog post.

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CPA Practice

OCTOBER 16, 2023

Tax season poses immense challenges for accounting firms. In this white paper, we explore how firms achieve faster turnarounds, improved workflows, and better client service through domestic outsourcing providers. Discover how the right domestic outsourcing partner can help optimize your tax season operations.

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ThomsonReuters

JANUARY 14, 2022

The tide moves in every quarter, and there is always tax season. A recent survey revealed that 82% of tax professionals identify as feeling burned out. It’s a significant issue for tax professionals and accountants. How does burnout affect tax professionals? 3 steps to avoid burnout during tax season.

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ThomsonReuters

FEBRUARY 9, 2023

As accountants, there’s no way to avoid the hectic nature of tax season. How can I make my tax season easier? From carving out dedicated personal time to implementing time-saving tools and technology, let’s take a look at three ways you can shift out of survival mode and thrive not only during tax season but all year long.

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TaxConnex

DECEMBER 8, 2020

Voluntary disclosure agreements (VDAs) can be an effective way to mitigate prior period sales tax exposure. If you don’t disclose back taxes and they’re unearthed through an audit, you could end up being assessed various penalties plus interest plus all tax due. Myth: It’s just a way for a state tax authority to find me.

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ThomsonReuters

MARCH 28, 2023

Compliance may not be the most glamorous task facing indirect tax (IDT) teams, but the rapid pace of change in global regulations and reporting requirements is turning the humble compliance function into a rapid-fire gauntlet of continuous challenges. In the next two years, more than a dozen countries (e.g.,

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ThomsonReuters

FEBRUARY 2, 2022

the potential market available to tax and accounting firms is massive. How to market tax and accounting services. You can do this online through blogs, white papers, webinars, and podcasts, or offline through speaking engagements and networking opportunities. Turning tax clients into full-service clients.

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Intuitive Accountant

OCTOBER 21, 2022

As you move into year-end and tax season prep, now is a great time to set or reinforce boundaries with your clients. If you're seeking guidance, check out this white paper from Rewind.

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Tax 52

ThomsonReuters

MARCH 26, 2024

The guidance clarifies that developers can receive a bonus of up to 10 percentage points on top of the Investment Tax Credit (ITC) and an increase of 10% for the Production Tax Credit (PTC ). These lists are essential resources for tax professionals to determine the eligibility of their clients’ projects accurately.

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ThomsonReuters

JUNE 8, 2023

Tax season can be a hectic time for tax professionals, but the off-season is a perfect opportunity to take stock of your practice and make sure you’re ready for the upcoming year. These programs also provide self-help resources for those needing guidance with taxes.

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ThomsonReuters

NOVEMBER 15, 2021

Corporate tax teams responsible for collecting, managing, and paying indirect taxes face numerous challenges in today’s fractious tax landscape. For all too many managers, their days are filled with the stress of keeping pace with various changes in the indirect tax space. Indirect taxes: Much more than just a process.

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ThomsonReuters

FEBRUARY 27, 2024

Upon graduating, she worked at Deloitte for four years, mostly in tax, which included a six-month rotation in auditing. Her goal was to focus on strategic tax planning and compliance for small business owners, as well as providing a workplace where women could have the work-life balance she lacked at other accounting firms.

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ThomsonReuters

FEBRUARY 28, 2024

Her firm is also staffed by four full-time employees and a few part-time positions that are outsourced. “I view the tax firm as my own Google experiment,” Shaul says. “I That was 2004, and now she has her own place and is no longer sub-leasing. She also hated having to deliver “bad news” when her clients owed money.

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ThomsonReuters

MARCH 12, 2024

Some are beyond your control, such as tax code adjustments , staff turnover , or evolving customer expectations. This white paper will discuss the benefits and costs of proactively managing inevitable change.

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cpas Technology accounting firms Tax 52

ThomsonReuters

JANUARY 29, 2024

This is where technology, particularly tax automation, plays a pivotal role. The role of tax automation Automation is a strategic asset in recruitment and retention. Automated tax processes standardize workflows, reduce manual errors, and significantly reduce the time spent on repetitive tasks.

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CPA Practice

JULY 6, 2023

Because someone that I’ve known for quite a few years, Mark Edmondson who is the CEO in flow, produced a white paper called The audit technology ecosystem, the audit technology ecosystem. But marks white paper. There’s lots of things to think about. But they list out all the categories.

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ThomsonReuters

MARCH 8, 2024

Over the past decade, the Partner Summit has given hundreds of tax professionals a unique opportunity to learn how to build a more progressive firm. Unless you make a real shift in the way that you’re doing things, you’re only building on your own pain as you continue to grow your tax practice.

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ThomsonReuters

NOVEMBER 12, 2021

Corporate international tax planning is a major challenge for companies that do business in multiple countries. To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically. 1. Prepare your company for international regulatory changes .

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CPA Practice

APRIL 26, 2023

The State of Pennsylvania Accounting Firms in 2023 is a comprehensive white paper conveying critical insights for practitioners while highlighting the challenges and opportunities facing Pennsylvania accounting firms and the industry more broadly.

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ThomsonReuters

JANUARY 24, 2023

The post The value of audit certification and what it means for tax firms appeared first on Tax & Accounting Blog Posts by Thomson Reuters. For more information on ESG accounting and reporting , read our blog covering the topic.

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audit auditor Tax accounting firms 59

ThomsonReuters

OCTOBER 24, 2023

More tax professionals are exiting the profession than are entering it. Add to that the recent focus by many workers on improved work-life balance—something that can seem at odds with a busy tax season. They automatically extract data from standard documents and populate it into your tax software.

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ThomsonReuters

AUGUST 10, 2023

Charting a smooth course, either on the open seas or at your audit firm, is an exciting opportunity for explorers and tax professionals alike. In the tax and accounting space, there are some great tech solutions that can help ensure a smooth transition between existing tools and new software.

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audit Technology Tax Account 97

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. Unlike the OECD’s Pillar 1.0,

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ThomsonReuters

AUGUST 3, 2023

In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. As a result, projects are completed more efficiently, and clients experience faster turnaround times for their accounting and tax needs.

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