Representative Nicole Malliotakis said increasing the state and local tax deduction cap to $30,000 from $10,000 would reduce the tax burden of the vast majority of people in her district, indicating support for a proposal that is dividing Republicans. “Every member needs to advocate for the particular needs of their
Global accounting network BKR announced a global strategic partnership with Suralink, a request list and document management software company for professional services firms. The collaboration will include joint participation in key events, thought leadership initiatives, and opportunities to connect with member firms on emerging technology and client experience solutions…. Pivot
The chairman of the House tax committee warned lawmakers from high-tax states demanding relief from a $10,000 cap on the state and local deduction that they will have to settle for an “unhappy” compromise. House Ways and Means Committee Chairman Jason Smith said Tuesday in a Bloomberg Television interview that
Today’s young CPAs aren’t just looking for a job or paycheck. They’re looking for purpose, impact and flexibility in their careers, preferably at firms that share their values and mission. Unlike previous generations, this new wave of CPAs isn’t satisfied with clocking in, doing the work, and waiting a decade
Big Four firm KPMG announced the release of its new Tariff Modeler tool, made to help users prepare for and respond to ongoing trade policy changes. The solution draws on client-specific historical data, current tariff information, and the user’s organizational objectives to generate a tailored interactive dashboard that can provide
Thirteen accounting firms have united to form Sorren, a national firm backed by private equity firm DFW Capital Partners that will have over a thousand employees and 20 offices across the country. Operating in an alternative practice structure as Sorren CPAs PC for attest services and Sorren Inc. for business
Donald Trump’s promise to strip Harvard University of its tax-exempt status prompted criticism Friday from a former Internal Revenue Service commissioner in the president’s first term, who said the process would take years and need a judge’s approval. “The IRS will not allow itself to be weaponized,” former IRS Commissioner
Maria Huja Maria Huja was promoted to managing partner at Claremont Management, Rolling Meadows, where she has worked since 2009 and became partner in 2018. RSM US, Chicago, added as new members of its executive leadership team: Sam Mascareno succeeding Bill Gorman as chief operating officer; Brandon Rucker succeeding Joel
Enjoy complimentary access to top ideas and insights — selected by our editors. Tax season has wrapped up, and this year there were increases in almost every filing statistic category compared to 2024. According to data from the Internal Revenue Service, the number of returns filed as of April 18,
In an ideal world, your general ledger is streamlined, automated, and error-free financial reconciliations. Yet, in reality, when it comes to reconciling, most accountants still find themselves defaulting to Excel. Despite advancements in technology, reconciling accounts within GL platforms remains tedious, error-prone, and inefficient. So, why does this persistent gap