PricewaterhouseCoopers, the global accounting firm, eliminated 60 jobs in Canada as the company braces for the fallout from the nation’s economic slowdown, according to people familiar with the situation. The company employs about 7,700 people in Canada. It had already cut about 2% of its workforce in the country at
President Joe Biden’s top economic advisor pledged Democrats would push to reverse Donald Trump’s corporate tax cuts next year, setting up a battle with Republicans over a tax law with provisions slated to expire at the end of 2025. “It’s clear we need to end the 2017 tax breaks for
The U.S. government recorded a higher budget surplus for the month of April than a year ago thanks to a rise in tax receipts, while steeper debt-servicing costs continue to impose a major drag. The surplus for April — when individual tax filings are due — was $210 billion, up
For CPAs who aspire to practice in Tax Court, the ability to review a case that has been litigated by a fellow CPA is a useful educational tool. This April, Steven Jager, CPA, a tax partner at Fineman West & Co. LLP and one of only a handful of CPAs
Financial advisors who may be struggling to manage the capital-gains exposure across tens or even several hundreds of client portfolios could hire a “tax overlay manager” to help. Short-term capital gains incur a tax hit of upwards of 50% in states with the highest income duties — which can be
Platform Advisors, the professional services arm of Platform Accounting Group, has launched Platform Wealth Advisors, a national wealth management advisory practice. The launch follows Platform’s acquisition of Goleta, California-based Walpole Financial Advisors, a CPA-led wealth management firm, and is aimed at better serving Platform’s current tax and accounting clients. Kirk Stovesand
Eide Bailly, a Top 25 Firm based in Fargo, North Dakota, is adding Apple Growth Partners, expanding the firm’s footprint to Ohio, effective June 24, 2024. The deal will bring Eide Bailly its first office east of the Mississippi and marks the second largest acquisition in the firm’s history. Financial
The Securities and Exchange Commission charged BF Borgers CPA PC, a fast-rising auditing firm based in Lakewood, Colorado, on Friday with deliberate, systemic failures to comply with Public Company Accounting Oversight Board standards for audits and reviews on more than 1,500 SEC filings from January 2021 through June 2023, while
As record numbers of boomers reach retirement age, more private companies than ever must wrestle with transition challenges. Seven out of 10 business owners aged 50-plus will transition out of their businesses within the next decade, according to data from the Exit Planning Institute. Meanwhile, the U.S. Small Business Administration
Tax and compliance solutions provider Sovos announced the release of its new Indirect Tax Suite, which is meant to handle all indirect tax obligations with governments, buyers, suppliers, and consumers. The new suite features, via Sovos’ Global Tax Determination engine, the ability to provide automated, accurate tax rates and rule