Tax & Accounting

Thomson Reuters Checkpoint Catalyst is the new star on Broadway

We debuted Checkpoint Catalyst in Times Square, NYC. Featured on both the famed NASDAQ sign at Broadway/43rd Street and the Thomson Reuters building at 7th Avenue/43rd Street, Checkpoint Catalyst shines brightly as the innovative new solution for tax research professionals. Watch our intro to Checkpoint Catalyst here on YouTube.

How important is your time?

In today’s fast pace environment the struggle to do more, faster, is a never ending goal. Watch this short video to hear how Thomson Reuters ONESOURCE has helped tax professionals experience time savings and the impact it made on their professional and personal lives. For more information on Thomson Reuters ONESOURCE, click here.

Checkpoint Catalyst: The next generation of online tax research

Newly authored by tax experts, Checkpoint Catalyst is the fastest, most efficient way to research even the most complicated tax issues. Checkpoint Catalyst connects the dots on federal, state and U.S. international tax implications so you don’t miss a thing and can take actions with confidence. Specifically written and designed for the web, Checkpoint Catalyst allows you to skim topics, drill into detail, view sources, diagrams, interactive tools, and featured developments—all on one screen and in context of the flow of the business transaction – helping you get to outcomes faster than any other alternative.

Call to the bullpen helps Detroit tigers

Call to the bullpen helps Detroit tigers

Two of our Tax & Accounting employees from Portage, Michigan recently did their part to help the Detroit tigers. Just not the Detroit tigers you’re probably thinking of. (more…)

Bob Schukai on “Rethinking the Modern Practice” at Accountex 2014

With the proliferation of mobile technology and more ways of staying connected than ever before, the days of work-life balance for accountants in practice have now become the pressures of work-life blur. More often than not, the first thing we do in the morning and the last thing we do at night is check our email, read a news story, or otherwise engage in activity that relates to our job. Robert Schukai MBE, Head of Advanced Product Innovation for Thomson Reuters, takes a futuristic and innovative look at the accountancy practice of the future and shares his views on how mobile technology will impact on information professionals everywhere in a hyper-connected world.

Promoting diversity & inclusion: A capital idea

DI

By Robin Hembree, Global Head of Human Resources, Tax & Accounting, Thomson Reuters

In Harper Lee’s classic American novel, To Kill a Mockingbird, the character of Atticus Finch imparts this timeless bit of wisdom: “You never really understand a person until you consider things from his point of view — until you climb into his skin and walk around in it.”

With over 5,000 employees spread across 26 countries, the Tax & Accounting business of Thomson Reuters is no stranger to diversity. And we’re striving for new and exciting ways to develop a greater sense of inclusion, perspective and understanding among our employee community, and to truly develop and use the skills of our global workforce.

Our focus on talent has a variety of facets designed to drive innovation, invest in our workforce and build an organization that can sustain us into the future. A critical focus is to nurture our employee talent as a source of significant competitive advantage in our global business.

One way we’re doing this is through global rotations – that is, short-term assignments that provide opportunities for talent to work on critical business projects in our growth regions around the world. This idea started with a conversation between – Gonzalo Lissarrague, then head of the Latin America region, and Brian Peccarelli, head of Tax & Accounting. The Latin America region is critical to Tax & Accounting’s global expansion and they had the goal of breaking down geographical barriers and accelerate the learning between the two groups. They concluded that the most effective way to do that was to start flowing talent – in an uncomplicated way – between the two regions. This goal brought together a partnership between the two HR teams to figure out how to structure the program in a simple but effective way. The program has had an impressive impact and is now leveraged more broadly across all of Thomson Reuters.

We asked several of the program participants to share their thoughts on the Global Talent Rotation Program (GTRP) and what they learned as a result: (more…)

State income tax – graphic of the day

In the 32 states for which Reuters has data, income tax revenues decline an average of 12.4% from the previous April. Today’s graphic shows the year-on-year change in income tax collected in those 32 states.

income taxes

Would you like infographics like this on your website, blog or other social media? Contact us and visit our Reuters Agency blog for insights and discussions on the changing media industry.

What just happened, exactly?

Our 2013 Annual Review brings our company story to life by showcasing how we support today’s decision makers by providing global information platforms that are faster, simpler and more connected. You can access the full-report here or check out the complete series of blog posts.

For more than 160 years, Reuters has consistently been a leader with the news that counts. We’ve earned the trust of demanding readers around the globe for both our speed of delivery and, even more crucially, the quality of our content. Today millions of professionals rely on our rigorous, accurate reporting as they make critical business decisions, craft longer-term strategies – and simply make sense of the world.

As the world’s largest independent news organization, Reuters combines journalistic acumen with unmatched contacts to remain a consistent leader in breaking significant news. In May 2013, for example, a Reuters exclusive reported that President Ollanta Humala of Peru, after pushback from global mining companies, would water down his historic reforms extending indigenous land rights. In October we broke the news that former Italian Prime Minister Silvio Berlusconi would not succeed in his plan to topple the coalition government of Enrico Letta. And in December Reuters revealed that Mexican lawmakers had agreed in principle on a draft energy reform bill which would end the decades-long oil and gas monopoly of state-owned Pemex. (more…)

R&D tax credit expiry rears its head in corporate earnings reports

Corporate earnings reporting season for the first quarter of 2014 is well underway, and with about half of all S&P 500 corporations now having reported, the results are looking pretty lackluster.  According to Thomson Reuters consensus estimates, first quarter corporate earnings are expected to grow at about 4.1%, making this the slowest earnings growth since Q3 2012.

Market-watchers have been blaming everything from the Polar Vortex to persistently weak housing and jobs numbers for the tepid corporate performance.  But there’s another drag on corporate earnings this quarter that has received less mainstream attention: tax.

Specifically, the expiration of the R&D tax credit is starting to come up in corporate earnings conference calls as having a significant impact on Q1 earnings.

As background, the R&D tax credit is an incentive designed to stimulate investment in innovation in the U.S. by providing companies with tax breaks on expenses related to research and development.  Originally introduced as a temporary piece of legislation in 1981, the credit has since expired nine times, most recently at the end of 2013.  So far, it’s always been reinstated, but lawmakers are still debating what to do with it for 2014.

That’s not good for large corporations who do lots of R&D. (more…)

Innovation, meet regulation: How Flash Boys, Uber and Tesla are breaking all the rules

Regulation is getting really complicated.  Don’t expect it to get easier any time soon.

Countless articles have been written lately about the very real business challenges created by the onslaught of new regulation in everything from finance to technology to healthcare. The gripes are justified. Ten years ago there were 2 or 3 major regulators that most big companies had to deal with; now there are hundreds, creating a global patchwork of complex, often contradictory corporate compliance hurdles for multinational companies.

Why is this happening? One easy answer is that too-big-to-fail has led to a regulatory free-for-all that’s too-complex-to-manage. Sure, cash-strapped governments around the world see some new regulations as an opportunity to generate revenues and others as good sense guidelines to reduce the risk of another credit crunch. But there’s more to it than that. When you look closely at this golden age of regulatory scrupulosity, the real driver is innovation.

Innovation and regulation have a tenuous relationship at best. While the base goal of regulation is to keep a level playing field, the base goal of innovation is to disrupt the status quo in a way that often upsets that balance.

Right now, companies are innovating much faster than regulators can keep up with them. Take Michael Lewis’ controversial new book Flash Boys, for example. It chronicles the experiences of a group of high frequency traders as they find ways to exploit stock market inefficiencies by trading on information just fractions of a second faster than the competition. (more…)