May 2018 Update

It’s been a busy month for the Bloomberg Tax team as we continue to deliver new tools and content that you can leverage for planning and compliance in the wake of tax reform and ongoing IRS guidance. Speaking of IRS guidance, check out our Pub. L. 115-97 Guidance Timeline, and, for Daily Tax Report subscribers, the new Federal Tax Developments Tracker.

Now that tax season is over for our CPA firm subscribers, it’s a great time to focus on building your business. Our new Section 199A Deduction Calculator and related analysis and IRS Response Letters can help you deliver services to your clients more efficiently.

On the topic of building and growing businesses, a recent Bloomberg Tax study on Diversity & Inclusion found majority agreement that having diverse staff increases revenue within both accounting firms (81%) and corporations (74%). However, firms and corporations are challenged with a limited pipeline of diverse talent.

Click through to my blog to find out more about the study and how organizations are taking on the challenge of creating diverse and inclusive environments to drive business growth.

[Download the full survey results]

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Other key findings in our study support the notion that there’s still work to be done. While nearly everyone agrees diversity & inclusion is important, there is a gap in agreement on how well they are executing. In accounting firms, hiring decision-makers feel they are doing a better job in advancing D&I than those who don’t have a role in the hiring decision process. And in corporations, nearly a third (30 percent) of corporate accounting staff are at flight risk due to D&I issues.

I’ve had the opportunity to share the results of this study on panels at events, such as the Tax Executives Institute and AICPA Global Women’s Conference where representatives from Deloitte, PwC, as well as corporate tax departments, outline how they are successfully executing corporate-wide initiatives. A great resource for finding out about these programs is Check out the Blind Spot training from PwC or the Deloitte Foundation Right Step program.

For more special reports from the editors and market research team at Bloomberg Tax, visit the new Special Reports page.