March 23, 2021
Thomson Reuters Partners With Armanino LLP to Help More Small and Medium-Sized Businesses Manage Complicated Tax and Compliance Requirements
DALLAS, March 23, 2021 – Thomson Reuters today announced a partnership and integration of its indirect tax solutions with Armanino LLP, one of the 25 largest independent accounting and business consulting firms in the nation. By combining the best of Thomson Reuters’ content and technology with Armanino’s team of experts versed in sales and use tax complexities faced by clients doing business in multiple jurisdictions, this partnership solves go-to-market problems for small to medium-sized businesses (SMBs). Now, U.S.-based experts on both sides provide a more hands-on, tailored approach to each client’s specific business situation versus the one-size-fits-all often offered by competitors.
“We’re thrilled to be partnering with Armanino. They are one of the largest and fastest growing accounting firms and by working with them, we are now helping businesses eliminate the risk of tax miscalculations and reducing the risk of federal and state penalties,” said Sunil Pandita, President of Corporates for Thomson Reuters. “We are offering a huge competitive advantage by working with Armanino to provide a solution able to grow with any business’ needs. No matter your company’s size, we’ll grow with you.”
Due to implications from the 2018 Wayfair decision ruling all states may charge tax on purchases made from out-of-state sellers, all U.S. businesses must now comply with a tremendous amount of tax regulations. Companies in the SMB market must understand the elements of tax penalties – with over 15,000 jurisdictions and 75,000 changes annually – and by not complying, both companies and entrepreneurs are at risk. The partnership between Thomson Reuters and Armanino offers a premium, affordable solution to SMB customers.
“As a firm that is focused on identifying impact-driven solutions in a changing market, we are excited to partner with Thomson Reuters and work with its Corporate Tax and Accounting division to simplify for clients the increasingly complicated constellation of state and local taxes,” said Alex Thacher, Tax Partner and Practice Lead, State and Local Tax at Armanino. “Thomson Reuters was the clearest and smartest choice as they provide the most innovative, disruptive tax software, along with the most comprehensive source of tax content in the industry.”
“We now help small to medium-sized businesses focus on driving growth and complying with government regulation, without the worry of managing those complexities,” said Chris Carlstead, Head of Partnerships and Alliances for Thomson Reuters. “Tax determination and compliance are complicated, and through this union, we’re giving more businesses access to a single unified tax solution allowing them to focus on their customers.”
Thomson Reuters’ ONESOURCE Indirect Tax is a cloud-based tax software solution that easily plugs into a customer’s POS and provides automation and accuracy across tax and finance workflows from determination through final remittance and compliance. It easily works with other ONESOURCE products like Direct Tax and Global Trade Management.
For more information, visit https://tax.thomsonreuters.com/en/onesource.
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
About Thomson Reuters
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world’s most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.