Bloomberg Tax

So many tax departments put laser-like focus on final deliverables, but in doing so they may ignore major problems with their outdated workflows. In fact, according to a recent Accounting Today and Bloomberg Tax survey of corporate tax professionals, 92% of respondents said their existing workpapers process is overly time-consuming.   But here's the good news: Today there's a much better way to work. Instead of spending countless hours wrestling with workpapers in Excel – only to worry they're not in line with the latest tax laws and rates – teams can gain better control, save time, and reduce errors with modern software solutions.   Our best-in-class product, Bloomberg Tax Workpapers, can help tax professionals seamlessly handle complex projects and reduce the need for manual work and multiple systems.   Click the link below to learn more. 👇 https://lnkd.in/eAbmNvnm

All eyes are on Washington as President Trump and a Republican-led Congress prepare to use budget reconciliation to forward their tax and spending plan, including the renewal of key provisions in the sweeping Tax Cuts and Jobs Act of 2017.   As the process plays out and potential federal policy shifts loom, savvy tax teams are using AI to assess their positions and prepare a multitude of scenarios for the road ahead.   To support those eager to adopt AI for tax planning, we've created a guide to evaluating AI tools that can help you decide which technology is right for your busy team.   It breaks down the top three questions to ask when selecting AI software, and our special report also showcases how Bloomberg Tax can reduce tedious tasks and address common workflow challenges like data transformation and manual formula errors.   🔗 Download our special report here: https://lnkd.in/e_6_-dHB

IRS commissioner nominee Billy Long found a friendly reception during his Tuesday confirmation hearing from Senate Finance Committee Republicans, who stuck to questions on how to improve taxpayer services, modernize agency technology, and protecting taxpayer information.

🏆 Congratulations to this year’s Bloomberg Tax & Accounting Author Award winners! Their contributions to federal and state tax provide invaluable insights to the industry. Learn more about the winners and their achievements here: https://lnkd.in/dj6mJ8JW   #TaxLeadership #BloombergTax #AuthorAwards

Owners of professional sports teams would only be able to write off half of the declining value of the franchises they purchase under Republicans’ tax bill, making good on President Donald Trump’s pledge to target “special tax breaks” for a corner of the billionaire class. The NFL surged its lobbying since Trump took office on a pledge to end its “massive tax breaks.” Read the full story here: bit.ly/3S1GVxS

Tax regulations are evolving faster than ever, creating challenges for even the most seasoned teams. Staying compliant, mitigating risks, and making informed decisions all come down to having the right tools. Our Buyer’s Guide to Tax Research Software is here to help. Get expert tips on how to: ✅ Keep up with constant regulatory changes ✅ Save time by reducing manual research ✅ Leverage AI technology to make your tax team more efficient ✅ Minimize risks and avoid costly penalties Download the free guide today to future-proof your tax strategies: https://lnkd.in/eUusjYUm

Shifting regulatory requirements, including updated disclosure demands like ASU 2023-09, are increasing the complexity of financial reporting for tax professionals. For many teams, keeping up with these changes means added administrative burden, heightened risks, and hours spent on tedious adjustments. But it doesn’t have to be this way. Bloomberg Tax provides tools tailored to tax professionals, designed to: ✔️ Simplify complex reporting requirements ✔️ Reduce risk with increased accuracy ✔️ Meet disclosure demands, all while streamlining workflows Want to gain clarity on ASU 2023-09 and how to enhance your financial reporting processes? Join our free webinar on May 15th, 2-2:30 PM EST to hear from our experts. 📅 Save your spot now! https://lnkd.in/gjbaAZaH

🟠 PwC said that it plans to cut roughly 1,500 jobs targeting its tax and assurance practices in the US accounting and consulting giant’s second round of layoffs since September. The Big Four firm cited two years of historically low levels of turnover for the reduction in force. PwC is just the latest Big Four firm to hand out pink slips as they reposition their service lines and thousands of professionals to meet shifting client demands. PwC began issuing layoff notices to employees on Monday, the person said. Read our full story here: bit.ly/4k5kEey

Private equity firms have invested at least $2 billion in public accounting in the past three years, reshaping the middle tier of the accounting market and driving consolidation.   The influx of outside capital is forcing accounting firms to reconsider their partnership structure and driving up valuations, making deals more expensive, as firms look to grow through acquisitions and mergers.   Critics warn that the focus on profits could undercut service quality and the sector's appeal with workers, potentially threatening audit independence and quality, while others see the investments as a necessary step to modernize the industry. Learn more from Amanda Iacone: https://lnkd.in/eQiwarRz

Managing your fixed assets efficiently is more than just keeping things in order—it's about gaining a strategic edge and ensuring compliance. Our Fixed Assets Buyer’s Guide is your essential roadmap to making informed purchasing decisions. Find out how Bloomberg Tax's software can transform your asset management with: ✔️ Automated depreciation calculations ✔️ Seamless workflow integration ✔️ Advanced reporting features ✔️ Inherent tax law compliance Download our guide now and take the first step towards optimizing your asset management strategy: https://lnkd.in/eyg6twW6