Accounting News | Tax News | CPA News | Accounting News | Tax News

Accounting News

Read More>>

Inheritance Tax Planning: How to File and Estimate Your Return

When someone close to us passes away, sorting through the financial side can feel overwhelming. The good news is most […] The post Inheritance Tax Planning: How to File and Estimate Your Return appeared first on .

The New 1099-K Reporting Thresholds: What You Need to Know

July 2025 update: 1099-K threshold increasedAfter the passage of the One Big Beautiful Bill (OBBB), the 1099-K reporting threshold has […] The post The New 1099-K Reporting Thresholds: What You Need to Know appeared first on .

Child Tax Credit vs. Additional Child Tax Credit: What’s the Difference?

The Child Care Tax Credit and the Additional Child Care Tax Credit are different, but you can take advantage of both if you qualify. The post Child Tax Credit vs. Additional Child Tax Credit: What’s the Difference? appeared first on .

Know More About Tax Deductions and Credits

Updated for tax year 2025. You’ve probably heard the phrase, “You can deduct that,” a lot around tax season. But […] The post Know More About Tax Deductions and Credits appeared first on .

How to Calculate and Make Estimated Tax Payments

Updated for tax year 2025. If you’re like most taxpayers, you receive salary and wages from your employer and never […] The post How to Calculate and Make Estimated Tax Payments appeared first on .

Update on global tariffs

Over the past several months, President Trump has escalated his tariff strategy, imposing revised tariffs to counter what he deems … The post Update on global tariffs appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Payroll teams must adapt to new crypto tax rules as IRS implements form 1099-DA and wallet-level cost basis requirements

Quick facts Form 1099-DA reports gross proceeds, not cost basis; mismatches can trigger IRS notices. Rev. Prod. 2024-28 requires wallet-level … The post Payroll teams must adapt to new crypto tax rules as IRS implements form 1099-DA and wallet-level cost basis requirements appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

How to file for tax relief when your clients are affected by natural disasters

Unfortunately, natural disasters happen. When they strike, people are left to regain a sense of normalcy as they work to … The post How to file for tax relief when your clients are affected by natural disasters appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Prompting 201: The best prompting techniques for tax accountants

alaina.bergen@thomsonreuters.com

The One Big Beautiful Bill Act (OBBBA) has ushered in sweeping changes to the tax code, presenting both challenges and … The post Prompting 201: The best prompting techniques for tax accountants appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

What Pyxus International learned about tax technology implementation success

kayla.malone@thomsonreuters.com

Two companies. Similar size, similar tax challenges, identical technology budgets. One transformed its tax operations in just eight months. The … The post What Pyxus International learned about tax technology implementation success appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Exploring the future of tax automation: How to elevate your firm’s efficiency and accuracy

adam.gleason@thomsonreuters.com

Jump to ↓ The tax environment and the need for efficiency The role of automation, APIs, and AI in enhancing … The post Exploring the future of tax automation: How to elevate your firm’s efficiency and accuracy appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

SQMS 1 explained: A practical guide to firm-level quality management

CPA firms and professionals are adapting to new quality management requirements under the AICPA Statement on Quality Management Standards No. … The post SQMS 1 explained: A practical guide to firm-level quality management appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

How multinationals can stay ahead of OBBBA and Pillar 2

kayla.malone@thomsonreuters.com

On July 4, 2025, the U.S. enacted the One Big Beautiful Bill Act (OBBBA), marking the most significant overhaul of … The post How multinationals can stay ahead of OBBBA and Pillar 2 appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Overcoming digital transformation hurdles in audit: Strategic API solutions

With technology advancing at a faster-than-ever clip, today’s accounting and audit firms face mounting pressure to modernize their operations while … The post Overcoming digital transformation hurdles in audit: Strategic API solutions appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Taking the next step on your firm’s advisory journey

As the accounting profession continues to evolve, firms across the industry are working to find the best path forward. Firms … The post Taking the next step on your firm’s advisory journey appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

The UK Should Lower or Abolish, Not Raise, Its VAT Registration Threshold

The United Kingdom Treasury's proposal to increase in the value-added tax (VAT) registration threshold would hold back small business growth, reduce the efficiency of the VAT system, and lead to a revenue shortfall.

Trump Tariffs: Tracking the Economic Impact of the Trump Trade War

Erica York, Alex Durante

The Trump tariffs amount to an average tax increase of over $1,300 per US household in 2025 and nearly $1,600 per US household in 2026.

One Big Beautiful Bill Act’s Corporate Tax Changes Benefit US Manufacturing the Most

The industry breakdown of the OBBBA corporate tax cuts shows firms in industries involved with tangible production, such as manufacturing, are the biggest winners, as measured by changes in tax liability.

Seize the Moment: Full Expensing Can Boost Canada’s Economy

Cristina Enache

If Canada doesn’t make full expensing provisions permanent, it will drop to 13th place in the capital cost recovery ranking, once provisions expire in 2028.

Chiefs Players Will Save $287,000 in Income Tax by Playing in Brazil Rather Than California

When the Kansas City and Los Angeles squads face off in São Paulo, the players will owe Brazil’s nonresident income tax on the share of income they earned there, while California will lose out on the nonresident income taxes that Chiefs players ordinarily would have remitted in what is nominally a Chargers home game.

Gas Taxes by State, 2025

Adam Hoffer, Jacob Macumber-Rosin

California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg.

Fiscal Forum: Future of the EU Tax Mix with Dr. Irma Mosquera Valderrama

Sean Bray interviews Dr. Irma Mosquera Valderrama, Full Professor of Tax Governance at Leiden Law School (Leiden University) and EU Jean Monnet Chair Holder on EU Tax Governance about the EU tax mix.

The Big Beautiful Bill’s Impact on State Taxes, Explained

Jared Walczak, Kyle Hulehan, Dan Carvajal

Congress may have passed the One Big Beautiful Bill Act (OBBBA), but state lawmakers now face big choices. Most states link their tax codes to the federal system, meaning OBBBA’s provisions—good and bad—are about to ripple across state budgets.

Tax Complexity Now Costs the US Economy over $536 Billion Annually

Sam Cluggish, Alex Muresianu

Americans will spend almost 7.1 billion hours complying with IRS tax filing and reporting requirements in 2025. This is equal to 3.4 million full-time workers—almost the population of Los Angeles and nearly 38 times the workforce the IRS employed in FY 2024—doing nothing but tax return paperwork for a full year.

Taxpayers Need the BLS to Stay Out of Politics

Daniel Bunn, Kyle Pomerleau

President Trump’s recent decision to replace the commissioner of the Bureau of Labor Statistics has the feeling of replacing the meteorologist and hoping you get better weather. But economic data affect government actions and could have surprising consequences. If nominee E.J. Antoni manipulates the statistics to make Mr. Trump look good, you could end up paying higher taxes.

Sorry, no content is available.

SALT Cap Workaround Update: Why PTET Elections Still Matter After OBBBA

The $40,000 SALT cap phases out for high earners. Learn why PTET elections remain vital—preserving deductions, lowering AGI, and reducing AMT income. In my earlier blog posts — Senate Tax Bill Preserves SALT Workaround for Traders and SSTBs and OBBBA Trader Tax Update: 2025 Law Secures Key Provisions for Traders — I explained how Congress […]

Digital Asset Tax Accounting

Accurate accounting for digital assets is critical for U.S. tax compliance and effective financial strategy. This post covers taxable events, basis and gain/loss calculations, accounting methods, wash sale rules, and key considerations. Taxable Events for Digital Assets Taxable income, gains, or losses can result from: Selling for fiat currency (e.g., Bitcoin for U.S. dollars) Exchanging […]

Digital Asset Trading Explained: Tax Rules For Crypto, ETFs, Futures, Options, And Tokens

Digital assets can be traded in multiple forms, each with distinct tax treatment, regulatory oversight, and strategic considerations. Here’s a detailed breakdown: Spot Cryptocurrency – Direct ownership of coins like Bitcoin (BTC) or Ethereum (ETH), purchased via exchanges or wallets, taxed as property under IRS Notice 2014-21. Capital gains/losses are realized upon sale or exchange. […]

Crypto Still Taxed as Property Despite the GENIUS Act and CLARITY Bill

With the July 2025 enactment of the GENIUS Act and the House’s passage of the CLARITY Bill (pending in the Senate), the U.S. crypto regulatory framework is undergoing rapid evolution. Yet for traders and investors, one central question remains: Has the IRS changed how crypto is taxed? Short answer: Not generally. The IRS continues to […]

OBBBA Trader Tax Update: 2025 Law Secures Key Provisions for Traders

The One Big Beautiful Bill Act (OBBBA), passed in July 2025, delivers lasting clarity for traders and small business owners by locking in and expanding many tax reforms from the 2017 Tax Cuts and Jobs Act (TCJA). OBBBA makes permanent or extends favorable provisions that benefit traders eligible for trader tax status (TTS) and Section […]

Final Tax Reform Bill Preserves SALT and PTET Deductions for Traders and Professionals

Traders and professionals win as Congress drops PTET restrictions and expands the SALT cap in final tax deal. After weeks of deliberation, revisions, and intense advocacy, the Senate and House have passed the final version of the One Big Beautiful Bill Act (OBBBA, H.R. 1), sending it to President Trump for signature on Independence Day. […]

Senate Tax Bill Preserves SALT Workaround for Traders and SSTBs

Update July 3: Final Tax Reform Bill Preserves SALT and PTET Deductions for All Pass-Throughs House and Senate agree on a $40,000 SALT cap for 2025 and maintain full PTET deduction access. In a fast-track move to finalize tax reform before the July 4 recess, the House on July 3 passed the Senate’s July 1 […]

Washington’s B&O Tax Targets Traders After New Ruling

With the Antio court decision and HB 2081 now law, day traders may be pulled into Washington’s business tax system. Before tax year 2025, traders considered their personal and trading entity accounts exempt from Washington State Business & Occupancy (B&O) tax, a revenue-based tax on businesses. What’s New Lots have changed, and we are tackling […]

House Bill Targets SALT Cap Workarounds and PTET Deduction for Traders and Service Professionals

A Renewed Blow in the SALT Wars and a Wake-Up Call for High-Income Professionals My parents once gave me a binary career choice: become a doctor or a lawyer. I took the road less traveled and became a CPA. While they respected my choice, none of us anticipated that the government would gradually single out […]

Tax Extensions 2024: 12 Tips To Save You Money by April 15, 2025

Individual tax returns for 2024 are due April 15, 2025, but many active traders won’t be ready to file on time. Brokers often issue corrected 1099-Bs close to the deadline, and partnerships and S-Corps filing by March 17, 2025, may not deliver K-1s until after April 15. Add to that the complexity of wash sale […]

ATO Audits are Now More Accurate at Finding Tax Cheats

ATO Audits are conducted when ATO systems detect signs that someone is cheating on their taxes. The Australian Tax Office (ATO) now uses more advanced computers and IT to detect suspicious claims and fraudulent tax returns. Wrong or missing information on your return can, at best, lead to delays in your refund. However, it’s not […] The post ATO Audits are Now More Accurate at Finding Tax Cheats appeared first on Etax - 2025 Tax Return Online.

Working Two Jobs in Australia: What You Need to Know

As living costs rise, many Australians are working two jobs (or multiple jobs!) to make ends meet. According to the Bureau of Statistics, 6.5% of the Australian workforce held multiple jobs in March 2025. While working two jobs can boost your income, it’s important to understand how this affects your taxes at the end of […] The post Working Two Jobs in Australia: What You Need to Know appeared first on Etax - 2025 Tax Return Online.

The $1000 Instant Tax Deduction: What It Means for You

A new $1000 Instant Tax Deduction is coming next year. Here’s the short version: In the lead-up to the April 2025 federal election, the Government announced a “$1000 instant tax deduction”. They label this as “Tax reform for easier, faster, better tax returns”. They claim it will provide cost-of-living relief and make it easier and […] The post The $1000 Instant Tax Deduction: What It Means for You appeared first on Etax - 2025 Tax Return Online.

Stage 3 Tax Cuts explained – what do they mean for you?

Amanda Glass-Watson

Stage 3 Tax Cuts in a snapshot Stage 3 tax cuts were adjusted from 1 July 2024, aiming to give a bit of a tax break to lower and middle income earners, compared to earlier tax changes that favoured workers already enjoying the biggest salaries. Compared to the original tax cuts, the new changes help […] The post Stage 3 Tax Cuts explained – what do they mean for you? appeared first on Etax - 2025 Tax Return Online.

How To Get Your Tax Refund Faster

When you’re expecting a tax refund, waiting is never easy. Instead of just wishing it will arrive sooner, read on! There’s no way to know exactly how long the ATO will take to process your tax return. Behind the scenes, the ATO examines tax returns more closely than ever, analysing and comparing your return to […] The post How To Get Your Tax Refund Faster appeared first on Etax - 2025 Tax Return Online.

myGov vs Etax vs tax agent office

“What’s the best way to do my tax return?” Let’s compare myGov, Etax and other tax return options: What’s the best one for you? The ATO advertises a tax system called myTax, which is inside the myGov website – and it’s one way to lodge your tax return. As a taxpayer, it is hard for […] The post myGov vs Etax vs tax agent office appeared first on Etax - 2025 Tax Return Online.

How To Do Your Best Tax Return and Boost Your Refund

Many Australians lose hundreds of dollars each year – simply because they forget about work-related deductions and the receipts for items they can claim. Do you compare your tax refund to your friends and family and wonder, “How can I get a better refund”? There are many ways Australians can improve their tax refund. Unfortunately, […] The post How To Do Your Best Tax Return and Boost Your Refund appeared first on Etax - 2025 Tax Return Online.

APRA Super-fund or a Self-Managed Super Fund?

Choosing the Right Super Option for Your Unique Needs Self-managed super funds (SMSFs) are growing in popularity and more Australians are using them to build their retirement funds. What are SMSFs, and most importantly, are they worth it? Below we compare the two most popular options, self-managed and APRA-regulated funds. Definitions What is a Self-Managed […] The post APRA Super-fund or a Self-Managed Super Fund? appeared first on Etax - 2025 Tax Return Online.

Australian Superannuation Guide

Amanda Glass-Watson

Everything you need to know about superannuation, from the basics of how funds work, extra payments, tax deductions & keeping them on track. The post Australian Superannuation Guide appeared first on Etax - 2025 Tax Return Online.

Claiming Work From Home Tax Deductions

Cameron Prosser

If you’re an employee who works from home, you’re probably using things like your phone, internet, and electricity. These are considered work from home tax deductions that you could potentially claim on your tax return. The post Claiming Work From Home Tax Deductions appeared first on Etax - 2025 Tax Return Online.

303.486.5690

2590 Welton Street Ste. 200

Denver, CO 80205

info@pine.support

Denver, Colorado

Share by: