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Navigating the SALT Landscape: What CPAs Need to Know for 2025 

As the December 31, 2025 expiration date for key provisions of the Tax Cuts and Jobs Act (TCJA) approaches, CPAs face increasing questions from clients about the State and Local Tax (SALT) deduction cap and its implications. This blog explores the current SALT landscape, potential changes on the horizon, and strategic considerations CPAs should be […]

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Tips to Help Accounting and Tax Pros Understand Market Trends in Election Years

“The numbers side of accounting is easy. The people side is hard.” That’s the lesson David Peters learned from a mentor early in his career, and it’s at the heart of his Surgent CPE course, “How Our Economy and Markets Perform in Election Years.” Contentious campaigns, roiling economic cycles, volatile financial markets and rampant misinformation […]

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IRS filing relief for Schedules K-2 and K-3

Last year, the IRS announced new Schedules K-2 and K-3 for the 2021 tax year. These schedules were introduced to standardize the reporting of international tax items that were previously reported on Schedule K-1. The IRS published updated instructions for Forms 1065, 1120-S and 8865 on Jan. 18, 2022, stating that entities with no foreign […]

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Build Back Better Act Could Rebound in Congress

Is the Build Back Better Act (BBB) going on a diet? President Biden’s $2.2 trillion spending proposal is showing signs that it’s too big to squeeze through the doors of the U.S. Senate, but advocates believe that losing a few pounds – er, dollars – is just what it needs to win final approval. The […]

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