Mon.Jan 13, 2025

article thumbnail

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.

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

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.

article thumbnail

Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

article thumbnail

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.

article thumbnail

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.

More Trending

article thumbnail

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.

Tax 128
article thumbnail

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?

article thumbnail

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.

Ohio 116
article thumbnail

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.

audit 114
article thumbnail

Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

article thumbnail

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.

article thumbnail

Caseware appoints David Marquis as CEO

Accounting Today

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

105
105
article thumbnail

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.

article thumbnail

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.

article thumbnail

Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

article thumbnail

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.

Sales 111
article thumbnail

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.

Ohio 59
article thumbnail

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.

111
111
article thumbnail

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.

audit 53
article thumbnail

How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

article thumbnail

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.

article thumbnail

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.

article thumbnail

Why Are Businesses Turning to External Accounting Experts?

Basis 365

In todays dynamic business environment, companies face an increasing array of challenges that require strategic financial management. Whether managing cash flow, ensuring compliance, or scaling operations, effective accounting plays a critical role in long-term success. However, as these demands grow, many businesses are moving away from traditional in-house accounting solutions and embracing external accounting expertise.

article thumbnail

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.

article thumbnail

Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

article thumbnail

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.

52
article thumbnail

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.

Tax 52
article thumbnail

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.

article thumbnail

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.

Tax 52
article thumbnail

New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

article thumbnail

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.

Tax 52
article thumbnail

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.

article thumbnail

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.

52
article thumbnail

Navigating Tax Turbulence: How Mike Habib, EA, Can Be Your Beacon in Los Angeles

MyIRSRelief

In the bustling city of Los Angeles, where the sun shines bright and the pace of life rarely slows, tax issues can loom like a dark cloud over individuals and businesses alike. Whether it’s the dread of unfiled tax returns, the burden of unpaid back taxes, the anxiety of facing an IRS or state tax audit, or the complexities of employment 941 payroll problems, these challenges can be overwhelming.

Tax 130
article thumbnail

The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.