Tax

In a move designed to bolster its global transaction tax offerings, Thomson Reuters Tax & Accounting has agreed to acquire San Ramon, Calif.-based Sabrix, a provider of tax transaction software, for an undisclosed amount.

As the world slowly starts to emerge from the recent recession - which has affected more people, across more industries, across the world, than any in recent history - there are certain opportunities that investors can take to mitigate some of the damage. The following are five things you can do to take advantage of the current downturn in the stock market.

Limited liability companies continue to grow in popularity as a choice of business entity. The combination of limited liability, pass-through tax treatment if partnership treatment is elected, ability of members to be actively involved in the management of the business, and lack of many of the restrictions imposed on S corporations have made it a very attractive form of entity.

Washington, D.C.-Tax rate brackets and various tax benefits will remain unchanged or change only slightly in 2010 due to low inflation, and many pension plan limitations will remain unchanged, according to the Internal Revenue Service.

No one enjoys paying taxes. That's especially true when the tax structure is complex and convoluted. Payroll taxes often fall into this category, but perhaps the most convoluted taxes that some of your clients will have to track, compute and remit are sales and use taxes.

President Barack Obama said Thursday he plans to hold a forum in December at the White House on jobs and economic growth.

Although I wasn’t born with a silver spoon in my mouth, and I would have to get very lucky very soon to be concerned with the estate tax rate, it has always seemed an unfair proposition to tax a person or business when it is most vulnerable.

The Tax & Accounting business of Thomson Reuters has released a state apportionment planning tool on its Checkpoint online research service.

Sabrix has released the fall 2009 version of its outsourced sales tax system.

CCH has added Smart Charts, checklists and decision trees to its Business Entity Planning Library to provide further guidance to tax practitioners analyzing and comparing the entities used by small- and midsized businesses.