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 On May 4th, alliantgroup hosted a luncheon and Q&A session with former Senator Blanche Lincoln (D-AR) that included alliantgroup CPA partners from Texas and Arkansas. The roundtable discussion created an opportunity for the CPAs to discuss client concerns with former Senator Lincoln and hear her perspective on those issues as well as the outlook for taxes in Congress.
Awareness and confusion about tax credits was one topic that was raised by various CPAs in attendance. They find that many of their clients are not aware of the tax credits that are available to them or face frustration due to the complexities of tax credits and taxes in general.
In response to this frustration, former Senator Lincoln has found many people have only an inkling that tax credits and incentives exist, even though Congress scores these credits thinking that everyone who is eligible is aware of their existence. She also believes that the work alliantgroup does, of educating small and medium business owners about tax credits and incentives, is important. Attendees widely agreed that businesses need to continue to learn about the availability of tax credits and incentives that will allow them to save jobs and keep their doors open.
CPAs noted that they have seen an increase in confusion and issues regarding international taxes with clients who do work overseas or export their products. These CPAs want to ensure that their clients are benefiting from producing goods domestically.
Former Senator Lincoln commented about the importance of exports in general and the benefits of export incentives. The attendees had a good discussion about the IC-DISC export incentive as vital to the economy and especially for job creation by supporting those businesses that manufacture domestically and export.
Overall, the CPAs in attendance reiterated to former Senator Lincoln that they continue to partner with alliantgroup because the breadth and depth of alliantgroup's expertise allows them to provide additional benefit to their clients.
alliantgroup's work strengthens the relationship between CPAs and their clients as well as provides a voice for them. It is alliantgroup's goal to continue this dialogue with key policymakers and our valued CPA partners.
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