Mon.Jan 13, 2025

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IRS: California Wildfire Victims Qualify for Tax Relief

Insightful Accountant

The Internal Revenue Service announced tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on Jan. 7, 2025.

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Bill on Alternate Pathways to CPA Licensure Signed Into Law in Ohio

CPA Practice

One hundred fifty hours will no longer be required to obtain a CPA license in the state of Ohio after Gov. Mike DeWine signed legislation on Jan. 8 that provides two alternate pathways for accountants pursuing the credential.

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LA fire victims get tax relief

Accounting Today

The IRS has pushed back filing and payment deadlines for those affected by the wildfires to Oct. 15.

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China Considers Sale of TikTok to Elon Musk to Avoid U.S. Ban

CPA Practice

Chinese officials are evaluating a potential option that involves Elon Musk acquiring the U.S. operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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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 Top 10 IRS Criminal Cases of 2024

CPA Practice

The IRS says the defendants in these cases committed millions of dollars in fraudulent activity, duped investors into believing they were going to strike it rich and tried to funnel money to terrorist organizations.

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Caseware appoints David Marquis as CEO

Accounting Today

Caseware announced it has appointed David Marquis, a five-year Intuit veteran, as its new CEO.

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California Joins IRS By Moving Tax Filing Deadline to Oct. 15 for Los Angeles County Residents

CPA Practice

The tax deadline change, permitted under presidential disaster declarations, is similarto those in previous yearswhen flooding or wildfireshindered residents and business owners suffering from property loss or damages.

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OSCPA names next president

Accounting Today

Laura Hay will succeed Scott Wiley as president and CEO of the Ohio Society of CPAs. She will be the first woman and first CPA to lead the organization.

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3 Minutes With Arun Mehra

Accounting Insight

The first edition of 3 Minutes With of 2025 is with none other than Arun Mehra, founder, owner and CEO of Samera, a leading global provider of accountancy, tax, offshoring, and financing solutions for businesses and other accountancy firms. Arun has been running Samera for over 21 years, with a diverse and experienced team across the UK and India. 1.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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From App Overload to Efficiency with Brittany Malidore

Canopy Accounting

In a recent conversation between Brittany Malidore , co-founder and managing partner of Ledgerly Consulting , and Accounting Technology, Liz Scott, Brittany shared her firms journey in adopting Canopy to tackle workflow challenges and improve efficiency. Their discussion revealed the key reasons why Brittany chose Canopy as the practice management solution for her growing firm.

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Introducing ‘Your business supercharged’

Xero

Were excited to unveil our new tagline: Your business supercharged. This is more than just a statement. Its about helping you achieve your business goals. But its also about the journey, the passion and freedom to do what you love. Ultimately, its about helping you unlock your full potential. Time for change Your business supercharged is a reflection of our unwavering commitment to you and the value we hope to provide every day.

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Admissibility of ITC Under Section 16(2)(b) on Goods Delivered Under Ex-works Contract| Circular No. 241/35/2024-GST Dated 31st December, 2024

VJM Global

GST Council received various representations from the automobile industries that show cause notice is received from the GST officer disallowing ITC with respect to goods which are delivered by the OEM at its factory gate to the dealer. As per the representation, GST officers are taking a view that ITC can be availed by the dealer only after the goods are physically received by him at his business premises.

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How to turn your New Year’s resolutions into solutions with apps

Xero

Got aspirations for your small business in 2025? The most important part of making New Years resolutions is creating a plan on how you will achieve them and then taking action. Whether you want to grow your business or take a step back and spend less time at work, apps might just be the secret weapon to reaching your goals. This year, turning your business resolutions into solutions might be as simple as connecting a new app to Xero.

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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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Professional Stature of a ProAdvisor

Insightful Accountant

Murph keys you in on traits that our past ProAdvisors of the Year have exemplified and why "professional stature puts the 'Pro' in ProAdvisor.

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Boston mayor revives push for homeowner tax relief

Accounting Today

The refiled proposal would cut the tax rate for the current fiscal year or provide residential rebates if such a reduction isn't approved by March.

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Tomorrow's QB Talks: ProAdvisor Training Opportunities

Insightful Accountant

Murph and guest co-host Kim Noh will discuss both the ProAdvisor and Intuit Academy training opportunities for ProAdvisors, Accountants, Bookkeepers and Tax Preparers.

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Agentic AI: The next big thing for accountants?

Accounting Today

Interest in agentic AI as the next step in the progression from generative AI has spiked in recent months along with investment from accounting firms and vendors.

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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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Maintaining a High-Performance Culture While Scaling Your Tax Practice

Insightful Accountant

In today's rapidly evolving tax landscape, growing a practice while maintaining its entrepreneurial spirit and team cohesion presents unique challenges. The principles of maintaining startup agility while establishing boundaries can impact.

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WWE Founder Vince McMahon Settles SEC Charges of Undisclosed Payments

CPA Practice

McMahon did not admit to or deny theSEC's findings, but he agreed to pay a $400,000 civil penalty and reimburse WWE for about $1.33 million, according toSECofficials.

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Biden bars cooking oil imports from tax credit

Accounting Today

The tax incentive that took effect on Jan. 1 is part of President Joe Biden's signature climate law, the Inflation Reduction Act.

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Amazon to Stop Some of Its DEI Program

CPA Practice

Matt Day, Jeff GreenBloomberg News (TNS) Amazon.com Inc. is halting some of its diversity and inclusion programs, a move that coincides with activist pressure on U.S. companies to abandon efforts to build a more diverse workforce. In a memo to employees, Candi Castleberry, a senior human resources executive, said last month that Amazon was winding.

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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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Art of Accounting: Perception vs. reality for tax audit fees

Accounting Today

Delivering an invoice for any service, including a tax audit, is a marketing activity, and it cannot be assumed that the client understands the value.

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Monday Morning Accounting News Brief: Venture Capital Eyes Accounting Firms For Profit; Big 4 Firms Tell Staff to Cool It on Travel Expenses | 1.13.25

Going Concern

Yo. Let’s wish a very happy Monday to Blake Oliver whose phone has been going nuts since he posted this on Saturday. JPMorgan just told all 300,000 employees they must return to office full-time in March. Their response to employees raising concerns about childcare and commuting costs? They shut down comments. — Blake Oliver (@BlakeTOliver) January 11, 2025 A reply: I want to know why an employer is responsible for an employees family or where they live?

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Ex-WWE CEO Vince McMahon settles SEC case on non-disclosure

Accounting Today

Vince McMahon, the former chief executive officer of World Wrestling Entertainment Inc., hid hush-money settlements he negotiated with a former employee and company contractor, leading to incorrect financial statements in 2018 and 2021, the Securities and Exchange Commission alleged.

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Massachusetts Life Sciences Companies: Tax Savings Opportunities

Withum

The application window for the Massachusetts Life Sciences Center Tax Incentive Program is now open. This program offers lucrative tax savings to eligible companies and the current application requirements include several modifications from past years, reducing barriers on several aspects of the application criteria. Applicants that previously didnt qualify should reexamine to see if they can now qualify for the program.

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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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The SEC should reject the PCAOB's firm reporting mandates

Accounting Today

Hindering the audit marketplace creates risk for the investing public, says the AICPA's Sue Coffey.

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U.S. Taxpayers May Elect OECD’s SSA Method for Pricing Intercompany Baseline Marketing and Distribution Activities

Withum

The U.S. Department of the Treasury and IRS (collectively, Treasury) on December 18, 2024, published a Notice 2025-04 (Notice) and announced their intent to issue proposed regulations and other guidance on applying the Simplified and Streamlined Approach (SSA) method of the Organization for Economic Co-operation and Development (OECD) for pricing certain controlled transactions involving baseline marketing and distribution activities.

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These legal cases will determine regulatory power in 2025 and beyond

Accounting Today

Lawsuits before the Supreme Court and in lower federal courts across the country could further reduce enforcement powers at the IRS and the SEC this year.

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Canada Prepares Counter-Tariffs if Trade War Starts

CPA Practice

Justin Trudeau says Canada is ready to respond with counter-tariffs against the U.S. if President-elect Donald Trump follows through on his threat to begin a trade war in North America.

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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!