Trending Articles

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Update to sales tax requirements of selling into Canada

TaxConnex

A huge draw of eCommerce is that a sellers potential market might include many nations. And U.S. sellers looking to go international might naturally first look north. Canada is now the 11th largest market for eCommerce in the world, with a predicted revenue of more than 63 million (in U.S. dollars) by last year. Leading eCommerce market segments into Canada have included fashion, hobby/leisure, electronics, furniture/homeware and groceries, according to latest statistics.

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IRS to start tax season on Jan. 27

Accounting Today

Newly expanded and improved tools will be available when tax season kicks off this month.

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Refunds and sales tax

TaxConnex

Many shoppers went online this season to find the perfect gift. Its a safe bet that few of them hit the target, which leads to returns, which leads to refunds from sellers, to which leads to the nagging question: Does sales tax get refunded along with the purchase price? The simple answer is yes. The more accurate answer, particularly when something as complex as sales tax gets involved, is: Probably, but watch the details.

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How to Strengthen Financial Consolidation and Close for Smarter Insights

Acterys

Financial consolidation and close are fundamental processes that ensure accurate reporting and reconciliation and allow organizations to strategically plan for the future. Yet as businesses grow in complexity, these efforts become increasingly challenging. Outdated tools, manual efforts, and fragmented data spread across an ever-increasing number of teams can turn close and consolidation into a drawn-out process riddled with errors.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Key Q1 2025 Tax Deadlines for Startups

BurklandAssociates

The first quarter of 2025 is packed with critical tax deadlines for startups. Missing these dates can result in penalties, compliance issues, and lost opportunities for valuable tax credits. To Read More The post Key Q1 2025 Tax Deadlines for Startups appeared first on Burkland.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below. As a refresher, this rule requires reporting of metrics at both the firm and the engagement levels.

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Truewind Accounting AI Platform Raises $13 Million in Series A Funding

CPA Practice

Truewind, an accounting AI platform, recently announced that it has raised $13 million in Series A funding from Thomson Reuters Ventures, Rho Capital and Pathlight Ventures.

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Five trends that will redefine finance and accounting in 2025

Accounting Today

F&A has evolved from a number-crunching function to a strategic and consultative one, safeguarding assets, streamlining operations and influencing future growth.

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New Cryptocurrency Reporting Requirements Impact Tax Season 2025

Insightful Accountant

Starting January 1, 2025, the implementation of Form 1099-DA and finalized crypto reporting regulations will significantly impact your tax preparation practice.

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Why CFO Support Services Are Essential for Business Success in 2025

AccountingDepartment

The role of financial strategy in business success has never been more apparent. With increasing financial complexities, regulatory challenges, and an unpredictable economic environment, small and medium-sized businesses (SMBs) are discovering the critical value of CFO support services.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Ohio to the AICPA: Suck It, Losers

Going Concern

The Ohio Society of CPAs announced yesterday that their state is leading the way in alternative pathways to CPA licensure, officially. Here’s what they said: Ohio Governor Mike DeWine signed House Bill 238 into law on Jan. 8, which includes OSCPA-backed legislation that will position Ohio as a national leader in addressing the dire CPA shortage.

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Taxpayer Advocate: IRS Has Improved Taxpayer Services, But Delays in ERC Claims and Identity Theft Assistance Still a Concern

CPA Practice

In her latest annual report to Congress, National Taxpayer Advocate Erin Collins praised the IRS for a much-improved taxpayer experience but also highlighted several ongoing challenges at the tax agency.

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IRS proposes banning contingency fees

Accounting Today

The change would come as part of the first big amendments to Circular 230 since 2014.

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Is it time to upgrade? Tips for changing accounting systems in 2025

Accounting Seed

Changing accounting systems can feel intimidating. Even if the legacy accounting system you currently use doesnt have the features, speed, or power you need, at least its familiar. Sometimes though, the benefits of switching to new software begins to outweigh the cost of learning a new system. If your outdated accounting system cant keep up with your growth, you want a more robust accounting system, or your vendor no longer supports your needs, it may be time to switch.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Managing transformational change in corporate tax departments: Key strategies and approaches

ThomsonReuters

Blog home In corporate tax departments, change comes in many forms. There is incremental changesmall adjustments to everyday activities that may be important, but dont necessarily affect the organizations overall direction or culture. And then, there is transformational changebig, bold initiatives that deeply influence a companys operations, processes, and culture.

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The Big Boys in Investing Are Getting Into Accounting Now

Going Concern

Well it’s official, we’re in the “sell” part of the private equity cycle. We’re also in the part of the cycle where you may have actually heard of the company investing in the accounting firm. And, because of that, also in the part of the cycle where things heat up significantly now that the big boys are jumping into the accounting space.

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IRS Free File System Opens Jan. 10, Allowing Some to Pre-File Tax Returns

CPA Practice

The early availability of the IRS Free File online systems will allow taxpayers to prepare and file their returns before the IRS officially starts accepting them, but they will then be already electronically in line when processing begins.

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The best and worst states for property taxes in 2025

Accounting Today

Every state levies property taxes, but some states have high or complex property tax structures, making them less competitive.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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FREE Accounting Education Webinars — January 2025

Nancy McClelland, LLC

A few too-good-to-miss free resources have come through my inbox and socials recently, and I wanted to make sure to share the goodness with yall. Velocity 2025 – Virtual Annual Planning Retreat by Justine Lackey Date: Tuesday, January 10th Time: 12:30-4 pm EST Whats the disconnect between dreaming big and actually making it happen? You need a clearly articulated vision.

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The cost of statutory reporting errors and the need for ESG integration

ThomsonReuters

Blog home In the high-stakes world of business, accurate statutory reporting is crucial to avoid potential financial and reputational consequences. Surprisingly, statutory reporting processes are often overlooked or neglected in organizational improvement initiatives, even though they are recognized as a critical business need. As regulatory scrutiny tightens, even minor mistakes can lead to costly pitfalls.

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Divide and Conquer: The Valuation of Undivided Real Estate Interests for Tax Planning

Withum

An undivided real estate interest is a form of ownership in which several parties hold ownership of the same property. Unlike typical ownership, where one individual or entity owns the entire property (a fee simple interest), undivided interests mean that multiple owners each have use of the entire property. This is like fractional ownership of a business entity, in which several owners each hold a percentage of the same company.

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IRS Postpones Tax Deadlines Until Oct. 15 for Victims of Los Angeles County Wildfires

CPA Practice

Currently, only individuals and households that reside or have a business in Los Angeles County qualify for tax relief. However, the same tax relief will be offered to any counties designated by FEMA in the coming days or weeks.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Grant Thronton CEO steps down

Accounting Today

Seth Siegel, CEO of Top 10 Firm Grant Thornton, announced he is stepping down from his position after 30 years with the firm.

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Maximizing Profit Opportunities with Strategic Financial Forecasting

AccountingDepartment

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

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How to Track Business Expenses Without the Stress

inDinero Tax Tips

Running an LLC or startup means wearing many hats, and learning how to track business expenses may not be the most exciting one. But with a bit of forethought, you can create a system that saves you time, money, and headaches. In this article, well teach you how to track business expenses in a way thats simple to learn and easily fits into your routine.

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How To Download Your IRS Account Transcript to Look Up Your Estimated Tax Payments (Updated Jan 2025)

Nancy McClelland, LLC

It’s tax time, you’re digging through your records… and your preparer or tax software asks about tax payments you’ve already made. Um, was I supposed to track those? Lots of small business owners pay what are known as “quarterly estimated taxes” to the IRS and their state department of revenue throughout the year — as a replacement or in addition to W-2 withholding, in order to pay tax on their self-employed or pass-through company’s profit.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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ADP Says 122,000 Jobs Added in December, While Annual Pay Rose 4.6%

CPA Practice

ADP's pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period.

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The best and worst states for sales taxes

Accounting Today

Data from the Tax Foundation's 2025 State Tax Competitiveness Index ranked which states compete on sales and excise taxes, and which don't.

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Transition from hype to value: Making financial technology meet expectations in 2025

Accounting Insight

2024 was certainly a year of discovery and rapid progression for AI and automation. We witnessed the widespread adoption of tools like ChatGPT to generate and speed up idea development, create structure and conduct research. This widening use of generative shows a growing acceptance of how it can benefit people in business as well as for personal use.

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Dr. Jackie Meyer Redefines Success in Accounting

Canopy Accounting

In this episode, we sit down with Dr. Jackie Meyer, CPA, entrepreneur, and author of The Balance Sheet of Life Formula. Jackie shares her journey as she goes from a traditional accountant to pioneering innovative approaches in the field. She also discusses the challenges of postpartum depression and chronic fatigue, revealing how these experiences shaped her approach to work-life balance.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.