Tax Accounting & Finance

By: Editorial Staff, Date: April 16th, 2024 Taxes present a complex and often bewildering challenge for both individuals and businesses alike. This complexity often gives rise to tax disputes stemming from various reasons. Given the constant evolution and change in tax laws, it becomes imperative to have a thorough understanding of the process to effectively resolve any disputes that may arise. Navigating tax disputes can be overwhelming due to unfamiliarity with the intricacies of tax law. Thus, understanding tax disputes and how to handle them is crucial for protecting taxpayers’ financial interests and ensuring a fair resolution. Let’s [...]

By: Editorial Staff, Date: April 16th, 2024 Dealing with tax issues can be stressful and overwhelming. However, advanced technology offers solutions to avoid these controversies. Explore how technology can help to stay out of trouble with tax authorities in this infographic. Discover expert strategies for resolving tax controversies in our webcast: Strategies for Resolving Tax Controversies in an Evolving Enforcement Landscape Upcoming Webcasts Upcoming Webcasts back

On September 15, 2023, the IRS released proposed changes to Form 6765, which is the form used by businesses to claim R&D tax credits. The changes to this form are expected to take effect at the start of the 2024 tax year. The changes aim to achieve consistent tax reporting, improve the information necessary for tax administration and examination, and increase transparency for the IRS while ensuring accurate processing of claims. Changes to Form 6765 New Section E: A new Section E on Form 6765 requires taxpayers to answer five additional questions to gather extra [...]

Unlock the potential of the R&D tax credit and discover how it can revolutionize your business. Explore its transformative benefits in this infographic! Learn more at our webcast: Maximizing Your Innovation ROI: R&D Tax Credits in 2024 and Beyond Upcoming Webcasts Upcoming Webcasts back

The COVID-19 pandemic has affected a lot of individuals and businesses alike. Even the healthcare industry was not spared, resulting in a growing number of bankruptcy filings this year. According to reports, the number of healthcare bankruptcies that were filed in the first half of this year is almost equivalent to the number of filings last year. The Warning Signs: Identifying Financial Distress in Hospitals A study says that there are six factors that contribute to financial distress in hospitals: Capital Market Constraints: Interest rates are at their highest level, affecting the borrower’s cash flow, [...]

R&D tax credits and amortization can save businesses money on research and development expenses. In this infographic, learn how to amplify your returns while driving forward the frontiers of research and development. Learn more at our complimentary Webcast: Understanding R&D Tax Credits and Amortization: Navigating Changes and Maximizing Benefits Upcoming Webcasts Upcoming Webcasts back

R&D Tax Credits: Encouraging Innovation Research and development tax credits are a government incentive designed to stimulate R&D activities across various industries. By offering tax breaks to businesses engaged in qualifying R&D projects, governments aim to foster innovation, enhance competitiveness, and drive economic growth. As of 2023, several countries have made noteworthy updates to their R&D tax credit programs: Expansion of Eligibility Criteria: Many jurisdictions have expanded the definition of eligible R&D activities to encompass a broader range of industries and technological advancements. This includes areas such as software development, clean energy technologies, and biotechnology. [...]

Accountants frequently encounter several ethical dilemmas that are commonly observed. Explore the intricate ethical balancing act accountants undertake through our informative infographic. Interested in learning more? Join our webinar: Responding to Ethical Dilemmas in the Accounting Profession LIVE Webcast Upcoming Webcasts Upcoming Webcasts back

Ethical dilemmas are an everyday reality for those in the accounting industry. In this article, we'll shed light on the ethical pitfalls that accounting professionals encounter in their daily lives. Let's get started! Conflicts of Interest Trust is crucial for accountants, just as it is in our personal relationships. Because of this, others may assume that it's harmless to rely on their accountant friends for financial help, but that's not entirely accurate. Conflicts of interest arise when personal or financial relationships intersect with accountants’ professional obligations. These situations can compromise one’s objectivity and impartiality. To [...]

Here's a quick guide to hedge funds! Learn about their unique strategies, risks, and rewards in this informative infographic. Come and join our webinar: ABCs of Hedge Fund and Private Equity Fund Formation Upcoming Webcasts Upcoming Webcasts back

In this infographic, we will delve into the various benefits of tax automation, including increased accuracy, reduced costs, and scalability! Check out The Knowledge Group’s webinar “Transforming Businesses with Tax Automation: Effective Tools and Best Practices,” Want to solve tax for good? Get in touch with Sovos Upcoming Webcasts Upcoming Webcasts back

In today's fast-paced business landscape, companies are constantly adapting to stay ahead of the competition. Recent years have witnessed a significant increase in the adoption of automation —a game-changing solution that has transformed the way businesses operate. This shift has transformed many industries, including the tax sector, and has enabled businesses to streamline processes and achieve greater efficiency. Let’s explore the benefits of tax automation and discover best practices that can help businesses transform their compliance processes. To start with, let us define tax automation. What is Tax Automation? Tax automation refers to the use [...]