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In recent months, American companies have begun to reap the benefits of tax changes that allow for quicker deductions in areas like research and development, interest expenses, and equipment purchases. This shift has led to improved short-term liquidity and greater flexibility for strategic investments. However, small and midsized businesses face challenges in fully leveraging these tax benefits due to limited resources and awareness. Accountants and advisors specializing in SMBs play a crucial role in helping these businesses navigate the complexities of tax planning, ensuring that they can transform immediate relief into sustainable growth strategies. The current fiscal landscape emphasizes the need for proactive financial planning to capitalize on these opportunities.

 

Accounting Today

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More than 300 South Koreans who were detained in an immigration raid at a Hyundai plant in the U.S. state of Georgia have arrived home. A chartered Korean Air jet carrying the workers and 14 non-Koreans who were also detained in the raid took off from Atlanta at midday local time on Thursday (17:00 BST). One South Korean national has reportedly chosen to stay in the U.S. to seek permanent residency. Korean companies would be "very hesitant" about investing in the U.S. following the raid, South Korean President Lee Jae Myung said on Thursday. "The situation is extremely bewildering," Lee observed, while noting it is common practice for Korean firms to send workers to help set up overseas factories. "If that's no longer allowed, establishing manufacturing facilities in the U.S. will only become more difficult . . . making companies question whether it's worth doing at all," he added. On Friday, the South Korean foreign ministry said it had called for the U.S. Congress to support a new visa for Korean firms.

 

Korea Joongang Daily

Bangkok Post

BBC News

The Korea Times

Initial jobless claims rose by 27,000 to 263,000 in the seven days to September 6th, the Labor Department reported Thursday, the highest level since October 2021. Economists polled by the Wall Street Journal had estimated that new claims would decline by 2,000, to a total of 235,000. The four-week moving average of new jobless claims increased to 240,500, the highest since June, while continuing claims, reported with a one-week lag, were unchanged at 1.94m. “The surge in initial jobless claims in the first week of September came primarily from Texas, while claims declined in most states," commented economist Eliza Winger. "While any deterioration in the labor market bears watching given growing labor-market weakness, a broader increase in claims would have been much more concerning.”

 

ABC News

Bloomberg

Market Watch

Wall Street Journal

In August, consumer prices increased by 2.9% year-over-year, marking the largest rise since January, according to the Labor Department. The uptick was driven by higher costs for gas, groceries, hotel rooms, airfare, clothing, and used cars. Core prices, excluding food and energy, also rose by 3.1%, remaining above the Federal Reserve's 2% target. As the Fed prepares for its upcoming meeting, it faces pressure to cut short-term rates from 4.3% to about 4.1%. However, rising inflation complicates this decision. Jerome Powell, the Fed Chair, indicated that the focus is shifting towards job concerns, especially as the unemployment rate increased to 4.3% and weekly claims for unemployment benefits rose sharply. The overall inflation rate accelerated by 0.4% from July to August, surpassing the previous month’s 0.2% increase.

 

The Baltimore Sun

Bloomberg

CNBC

New York Times

The U.S. budget deficit for August fell $35bn or 9% from a year earlier to $345bn, the Treasury Department said on Thursday, with receipts rising 12% to $344bn and outlays up $2bn to $689bn. With one month to go in the 2025 fiscal year, the year-to-date deficit rose $76bn, or 4% to $1.973tn. Net customs receipts in August hit $29.5bn, quadrupling from $7bn a year earlier, driven by changes to tariff policies.

 

Bloomberg

Reuters

Health insurer Cigna has said the share of employers paying for obesity drugs is flat year-over-year, although it still sees an uptick in demand for the treatments. More than half of the firm's Evernorth unit's clients, a group that includes large employers and health plans, cover the drugs for weight management, chief financial officer Brian Evanko said.

 

Reuters

Kroger has posted a second-quarter profit of $609m, or $1.04 per share adjusted, up from $466m a year earlier, on sales of $33.94bn, a 0.1% annual rise. Analysts had expected per-share earnings of 99 cents and revenues of of $34.1bn. Same-store sales excluding fuel rose 3.4%. "Low- and middle-income households are really looking for deals . . . And they're buying more private label products. They're also eating out less", interim chief executive Ron Sargent said on a post-earnings call. Quarterly gross margin was 22.5% of sales, compared to 22.1% a year earlier, partly due to lower supply chain costs. The company now expects full-year comparable sales to increase 2.7%-3.4%, versus its prior forecast of a 2.25%-3.25% rise. It has also raised the lower-end of its annual per-share profit forecast to $4.70 from $4.60, while retaining the upper-end at $4.80.

 

Bloomberg

Los Angeles Times

Reuters

Wall Street Journal

U.S. Sen. Ted Cruz (R-TX) has proposed a bill that would allow artificial intelligence companies to apply for two-year exemptions from federal regulations in a bid to foster innovation and help U.S. firms compete with China. Cruz emphasised that while the "regulatory sandbox" would not exempt companies from all laws, it would enable them to experiment with new technologies while outlining potential risks and mitigation strategies. However, consumer advocacy group Public Citizen has expressed concerns that the proposal could treat Americans as "test subjects" and highlighted the need for careful oversight of AI development amid varying state regulations.

 

Reuters

The Trump administration has announced new regulations aimed at increasing transparency in pharmaceutical advertising, particularly on television and social media. President Donald Trump signed a memorandum on Tuesday requiring companies to disclose more side effects in their ads and enforce existing rules against misleading advertisements. "The goal is not to reduce the number of ads, but ensure patients have full information about side effects," said a senior administration official. In 2024, drug companies spent $10.8bn on direct-to-consumer advertising, with AbbVie and Pfizer being major contributors. The new rules will also apply to influencer marketing on social media, which has seen minimal oversight in recent years. The administration plans to enhance enforcement by various health agencies, including the FDA and FTC, particularly focusing on telehealth companies and their advertising practices.

 

The Columbian

According to AICPA's 2025 National Management of an Accounting Practice Survey, accounting firms are experiencing significant revenue growth, with a median increase of 6.7% in total net client fees for fiscal year 2024. This follows a 9.1% growth rate reported in the previous year. Lisa Simpson, vice president of firm services at the AICPA, said: "CPA firms have been focusing on strategic growth opportunities by refining their client base and deepening relationships with existing clients." The survey also highlights a rise in compensation for new graduates, with median salaries increasing nearly 11% for bachelor's degree holders and 17% for master's degree holders. Additionally, firms are exploring artificial intelligence and automation to enhance their services, with many expressing confidence in adapting to these technologies over the next three years.

 

Accounting Today

CPA Practice Advisor

Alternative practice structures in the accounting profession are gaining traction, particularly due to the rise of private equity investments. Jan Taylor, CPA, CGMA, Ph.D., highlights that over 53 significant PE-related transactions occurred in CPA firms from 2020 to mid-2025, with 24 in 2024 alone. This influx of capital is leading to consolidation, innovation, and expansion into advisory services. However, it raises questions about maintaining quality and independence in accounting practices. AICPA is addressing these concerns through initiatives aimed at revising independence rules for alternative structures. Taylor emphasizes the importance of adaptability, understanding business models, and upholding ethics in preparing students for this evolving landscape. "The future of accounting depends on how well we prepare students to navigate complexity," she says.

 

Journal of Accountancy

Many organizations struggle with accounts receivable (AR) management, diverting focus from growth initiatives. Despite digital advancements, legacy processes hinder efficiency in the order-to-cash cycle. Zero-touch AR reimagines this function, integrating it seamlessly into operations with minimal oversight. Chief financial officers often overlook the full costs of traditional AR, which can delay strategic initiatives and impact cash flow. The proposed operational framework aims to optimize working capital, improve liquidity, and enhance credit ratings. By reducing administrative burdens, organizations can redirect resources to value-creating activities, transforming customer relationships and enhancing financial metrics. As the landscape evolves, zero-touch AR offers a competitive edge, prompting CFOs to consider how quickly to implement this vision for strategic benefits.

 

Accounting Today

Mexico plans to increase tariffs on automobiles from China and other Asian countries to 50%, a move aimed at protecting local jobs and responding to U.S. pressure regarding economic ties with China. The Economy Minister, Marcelo Ebrard, stated that the tariffs, which will affect $52bn in imports, are necessary to ensure competitiveness in the market, as Chinese cars are entering at prices below local reference levels. This overhaul of import levies will also impact various sectors, including textiles and steel, and is expected to safeguard approximately 325,000 industrial jobs in Mexico.

 

Reuters

Reuters reports that Carlyle Group, EQT, HongShan Capital Group, and Boyu Capital, are among the final bidders to acquire a controlling stake in Starbucks' operations in China. Starbucks has said that it would maintain a meaningful stake in the China business. Binding bids are due to be submitted by early October.

 

Reuters