article thumbnail

The impact of the SALT cap on state income taxation: What’s next after the One Big Beautiful Bill Act

ThomsonReuters

The permanent nature of the new cap provides a stable planning horizon, a welcome change from the sunset provisions and yearly uncertainty that characterized SALT policy since 2018. State-level tax policy could begin to shift again as local governments regain some fiscal flexibility due to restored federal deductibility.

article thumbnail

7 ways to attract and win new tax clients

ThomsonReuters

Adding services in the areas beyond filing tax returns, such as accounting, payroll, bookkeeping, business planning, payroll and audit solutions, will always be services clients need. Respondents also indicated interest in receiving other services from their accounting firms. This is the true future of accounting.

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

SEC Accounting Chief Warns Chinese Companies About Risks of Changing Auditors

Reynolds Holding

4] Recently, we have observed instances of foreign issuers—especially foreign issuers located in the People’s Republic of China (“China”) or in Hong Kong—changing their lead auditor from a local registered public accounting firm to a registered public accounting firm located either in the U.S.

article thumbnail

Five signs you’re ready to be your own boss

ThomsonReuters

Most small CPA firm owners have years of experience working for larger firms and find themselves wanting to utilize that experience to serve clients in their own way. Angie Wood, owner of Wood CPA , started her firm in 2019 after several years of working for larger accounting firms.

article thumbnail

CPA technology now: ‘Hype vs. Happening’ with new accounting tech

ThomsonReuters

In 2018, the World Economic Forum’s Future of Jobs Report listed accountants and auditors as one of the jobs mostly likely to decline as a result of automation. This was based on the expectation that tax and accounting professionals would fail to adapt to new technology and therefore render themselves less efficient.

article thumbnail

IRS launches Operation Hidden Treasure and the implications for CPAs

ThomsonReuters

2018 – IRS Launches Compliance Campaign focused on cryptocurrency tax reporting. The Ledgible platform is the proven cryptocurrency asset solution for professionals, in use at leading accounting firms and major crypto companies around the world. 2017 – Courts rule in favor of the IRS and Coinbase provides records.

article thumbnail

Expert or Arbitrator? Resolving Purchase Price Adjustment Disputes

Shephard Mullin M&A

15] In summary, if arbitration is desired, the purchase agreement should (1) clearly state that the parties intend that the accountant act as arbitrator, and (2) specifically refer to a set of procedural rules to govern the arbitration. 2018-0497-KSJM, 2019 WL 366614, at *1 (Del. Action Servs., FOOTNOTES [1] Penton Bus. Informa Pub.