Few CFOs will take note of US election outcome
Few CFOs plan to make any tax decisions based on the outcome of the presidential elections
Few CFOs plan to make any tax decisions based on the outcome of the presidential elections
Few chief financial officers and senior comptrollers plan to make any tax
decisions based on the outcome of the US presidential and congressional
elections starting today, according to a survey conducted by
Grant
Thornton LLP in the US.
An overwhelming majority of 79% will not be influenced by the change of US
administration in their tax decisions. Something, Mel Schwarz, a Grant Thornton
LLP tax partner and national tax office legislative affairs director, has found
surprising, given the vast difference between the two presidential candidates in
tax policies for business and individuals.
While John McCain promises business a lower corporate rate at 25% and the
ability to expense more assets, Barrack Obama’s business tax relief is more
targeted, considering lower corporate tax rates only if ‘loopholes’ are closed.
Obama has also promised a substantial list of offsets and to boost
alternative energy and conservation tax incentives and supported efforts to
repeal tax incentives for the oil and gas industry.
Further reading:
Taxpayer bailout to help stricken UK banks
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThree years after accountancy group DJH Mitten Clarke launched, they have announced that they have rebranded to DJH. The DJH Mitten Clarke name reflec...
View articleStatic budgets outdated. Embrace agile budgeting for a smooth year-end close and adapt to changing markets. Read More...
View articleSaffery Champness's strategic rebrand to "Saffery" reflects a bold step towards aligning its historic values with a modern, innovative ethos, fosterin...
View articleSumer’s CEO Warren Mead believes accountants have a responsibility to champion smaller and medium-sized businesses and that successful entrepreneurs a...
View articleMid-market firms experience largest percentage increase in fee income in 2023, as consultancy services start to become leading income streams for the ...
View articleBaker Tilly International has today announced record global revenues of US$5.2bn for the financial year ended 31 December 2023, up 11% on the previous...
View articleWhilst Small and Medium Enterprises (SMEs) account for around half of the turnover in the UK private sector[1], our own AAT research shows that over a...
View articleGrant Thornton UK as confirmed the appointment of Malcolm Gomersall as its new Chief Executive Officer. Gomersall, who has been with the firm for over...
View article