The Checkpoint Pocket Assistant is a new mobile app that helps tax and accounting professionals perform routine tasks and gives quick reference information from anywhere on Apple iPhones. Get key Federal Tax Rates immediately with this app available to download from the Apple App Store at no cost. Learn about additional quick reference utilities, tables and rates, or calculators as they become available either free of charge or for a nominal fee. Created by the same team who brings you Checkpoint, our online research platform, the Checkpoint Pocket Assistant provides the apps you need to be more effective and efficient when you’re on the go.
“Our Pocket Assistant is another example of our commitment to helping our customers increase their productivity and efficiency so they can spend more time on strategic planning and business development,” said Steve Zelman, senior vice president of our Checkpoint Platforms. “These apps further expand our mobile research offerings which include: Thomson Reuters Checkpoint for tablets and smart phones, Thomson Reuters ProView eBooks for tablets, and now our Checkpoint Pocket Assistant apps for iPhones.”
New apps available through Checkpoint Pocket Assistant include:
Last month the American Institute of CPAs® (AICPA) issued a new, optional reporting framework for small-and-medium sized businesses that provides another GAAP (U.S. Generally Accepted Accounting Principles) alternative for SMBs. While this new simplified framework offers another tool in CPAs’ arsenal to meet their clients’ needs, it faces an uphill battle for acceptance.
The framework has become somewhat controversial since its release, with some welcoming it, while others have warned against its use. To gain a better understanding of the issues and what CPAs really think about new financial reporting framework for SMBs, we surveyed our customers to assess their awareness, concerns and plans for adoption. The results are summarized in a new Thomson Reuters Checkpoint special report “Financial Reporting Framework for Small- and Medium-Sized Entities,” which provides an introduction to this new framework, survey findings and some issues for CPAs to think about…
Global companies conducting cross-border business face unique and complex challenges. Expanding international presence means more complex taxes and the need to integrate transaction tax processes with finance applications on a global scale. Thomson Reuters has combined its ONESOURCE Indirect Tax solution with SAP enterprise resource planning (ERP) systems so corporations can integrate their sales and use tax and VAT processes into all their major business processes, such as Quote to Cash (SD), Procure to Pay (MM) and Financial transactions (FI). Soon, Thomson Reuters will release the newest version of ONESOURCE Indirect Tax Integration for SAP, designed to meet the indirect tax needs of global companies doing business in EMEA, Asia Pacific and Latin America.
“In the past, it was sufficient to keep abreast of in-country developments,” says Eric Ruud, managing director of Thomson Reuters ONESOURCE Indirect & Property Tax. “However, as businesses increasingly become global, and with more countries relying on VAT and GST for revenue, companies must now be aware of what is happening worldwide.”
Tax professionals often have a tight window to compile and calculate tax reporting figures in time for the financial close. The many manual aspects of the reporting process, such as data collection, consolidation and error tracking, leave little time for the analysis and planning that add value to their businesses. It is essential that tax departments ensure that adequate controls are in place to manage risk, meet shareholder expectations and avoid regulatory penalties.
Thomson Reuters ONESOURCE® Tax Provision helps address these important issues. It provides tax professionals with guaranteed calculations and user controls; an automated flow of information between general ledger, provision and return systems; integrated work papers; global data management; and enhanced reporting. ONESOURCE Tax Provision allows for greater control over tax provision data, while mitigating risk. The result: a faster, more efficient close…
Today, tax departments work under increasing pressure to get more done, faster. Tax professionals often work under tight deadlines with limited resources to manage a wide range of responsibilities, including local and global planning and compliance for corporate income tax, indirect tax, property tax, trusts, transfer pricing, tax provision and tax information reporting.
“We understand the challenges that tax professionals face, and are constantly evolving our offerings to help our customers do more, faster,” says Joe Harpaz, managing director of the corporate division of the Thomson Reuters Tax & Accounting business. “Our products offer the speed, integration and expertise that our customers require to operate efficiently and in a low-risk environment. We’re proud to enable tax departments across the world to do great work each day.”
Thomson Reuters ONESOURCE® is the world’s most powerful corporate tax and accounting platform. ONESOURCE products offer global solutions for managing the entire tax and accounting lifecycle more efficiently. ONESOURCE helps tax departments manage their company’s data in a streamlined and centralized view, and simplifies tax compliance, all in one complete solution…
By striking down a key provision in the Defense of Marriage Act (DOMA), the Supreme Court made history. Although DOMA was not typically viewed as a tax law, it carried significant tax consequences for married same-sex couples.
“The Supreme Court’s decision opens up several tax breaks newly available to legally married same-sex individuals,” said Catherine Murray, a Thomson Reuters tax analyst and an author of the report, Tax Implications of the Supreme Court’s Decision Holding DOMA Unconstitutional. “These individuals and their advisors should begin planning now to determine actions to take when the IRS issues guidance.”
The Thomson Reuters Checkpoint report discusses new opportunities for married same-sex couples to:
Leasing is a popular way of obtaining the right to use assets of financing activities and reducing a reporting entity’s risks associated with the ownership of assets. Thus, the accounting and reporting for leases is important for both reporting entities and users of their financial statements.
The changes in this new proposal are quite significant to both lessors and lessees and affect most aspects of lease accounting. To help guide you through the new lease accounting standards proposed changes, we released a special report, An Overview of the Revised Proposed Accounting Model for Leases.
Land tenure security remains a critical issue in Liberia’s post-conflict state and is widely recognized as a potential catalyst for further civil disturbances if not dealt with proactively. In its 2008 final report, the Truth and Reconciliation Commission of Liberia (TRC) stated that land disputes are a threat to national peace, and if the issue is not addressed, there is a strong likelihood of a return to violence.
In 2010, the Liberian government created the Land Policy and Institutional Support Project (LPIS), designed to overhaul the current deed-recording process as well as provide the public with greater clarity and understanding of property rights. In the summer of 2010, LPIS chose Thomson Reuters OpenTitle to secure the country’s land records in a digital format.
Since then, the Government sector of our Tax & Accounting business has been working with groups such as the Liberia Land Commission, Millennium Challenge Corporation (MCC), and the United States Agency for International Development (USAID) to help protect the existing property information and make that information more transparent and accessible.
At a recent Thomson Reuters Newsmaker interview President and Nobel Peace Prize winner Ellen Johnson Sirleaf discussed press freedoms, governance transparency, education, trade and investment and land reforms.
Reuters presenter, Axel Threlfall, led the discussion with President Sirleaf and explored the lasting impact of the civil unrest that occurred from 1989 to 1996 and from 1999 to 2003 and how, in her second term, she intends to deliver stability, security and growth.
Under President Sirleaf, Liberia has instigated a land reform and institution modernization project. The United States Agency for International Development (USAID), with funding from the Millennium Challenge Corporation (MCC), has supported this effort through the Liberian Land Policy and Institutional Support project and we are a technology partner of MCC and USAID in connection with the Liberian government’s land reform project.
Just over three years ago, Congress enacted legislation that overhauls the U.S. health care system and affects nearly all taxpayers, many employers, and many elements of the health care industry. The legislation contains a host of tax changes, many of which are both complex and novel. Some already have gone into effect, some go into effect this year, and still others will be in place in 2014 and 2018.
The Thomson Reuters Checkpoint Timeline of 2013-2018 Tax Changes in Health Care Reform Legislation report will help tax and accounting practitioners get a fix on the rules newly effective this year, as well as those looming on the horizon, by presenting a timeline of 2013-2018 tax changes in the health care legislation, and a concise summary of each new tax provision.