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Why accounting firms should become business advisors

ThomsonReuters

As accounting firms look to differentiate themselves from the competition, one trend is leading the way: business advisory. From advising on mergers and acquisitions to specializing in accounting and advisory in your clients’ specific industry, there are many ways to take advantage of this unique opportunity.

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What is tax advisory?

ThomsonReuters

Chances are you already have the foundation – you just need a shift in mindset and insight from accountants who’ve made the leap. Whether it’s utilizing tax credits or uncovering tax deductions, tax advisors are up to date on the latest tax related legislation and can minimize taxes while ensuring their clients remain compliant.

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Are you ready? The Corporate Transparency Act becomes effective Jan 1, 2024

ThomsonReuters

However, the effective date of the Corporate Transparency Act is fast approaching on January 1, 2024, and people are starting to panic. This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings.