Remove Accounting Firms Remove Compliance Remove Dividends
article thumbnail

Exploring key 2024 tax bill proposals

ThomsonReuters

Tax policy impact: The No Capital Gains Allowance for American Adversaries Act proposes significant changes to tax treatment for gains and dividends derived from specified countries of concern. Tax firms must stay informed about these potential amendments to advise clients effectively.

article thumbnail

8 strategies to increase your tax and accounting firm’s profitability

ThomsonReuters

For small and mid-sized tax and accounting firms, there are plenty of ways to do so. 8 ways small and mid-sized accounting firms can increase profitability. Maybe you’re paying for expensive office rent when you could operate a remote-based firm instead. Revisit your accounting firm’s marketing strategy.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Overview of U.S. taxes on foreign income for individuals

ThomsonReuters

tax system applies to them and how they can ensure compliance while minimizing tax liability. From understanding what foreign income is to navigating various tax forms and deductions, it is important for accountants to understand the ins and outs of U.S. Helping clients with foreign income tax forms For U.S. Foreign earned income.

article thumbnail

How to efficiently file individual income tax returns: A workflow guide for accounting firms

ThomsonReuters

Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms. Data entry 8.

article thumbnail

How to efficiently file a business tax return: A workflow guide for accounting firms

ThomsonReuters

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. Financial statements, dividend records, and documentation of corporate-specific deductions for Form 1120. Partnership. Corporation. S corporation.

article thumbnail

Prioritizing the implementation of accounting advisory services

ThomsonReuters

← Back to blog For many accounting firm owners and leaders, the idea of transforming their practices from a traditional, transaction-based model into an advisory-centric firm is an appealing one. If your firm has operated for years with a focus on compliance work, you may struggle to move beyond this transactional approach.