Wed.Jan 29, 2025

article thumbnail

Pieces of the 2025 tax reform puzzle

ThomsonReuters

I often tell others that tax reform is like assembling a complex jigsaw puzzle. Although you start with the final image in mind, youre not sure how the various pieces fit together. Should you build the puzzle from the middle out, or is it better to focus on the edges and work toward the middle? And what if a piece is missing? Is an almost complete puzzle better than no puzzle at all?

Tax 59
article thumbnail

Rupert Murdoch tests how irrevocable a trust can be

Accounting Today

The media mogul is in court to allow him to change the terms of a trust but it's not that easy.

Legal 103
Insiders

Sign Up for our Newsletter

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

article thumbnail

Utilizing FP&A for More Effective Financial Planning

AccountingDepartment

For any business owner, prioritizing the companys future is essential. Financial planning plays a crucial role in this, enabling business owners to drive growth and broaden their operations. If a business owner hasnt focused on this aspect, they need to understand what it is, what it does, and how it differs from regular accounting. What Is FP&A?

article thumbnail

IRS reduces wait times for some identity theft victims

Accounting Today

The Internal Revenue Service is making progress on whittling down the amount of time it takes to help victims of tax-related identity theft.

Tax 69
article thumbnail

Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

article thumbnail

Summarizing the 2025 Acumatica Summit

Insightful Accountant

Murph wraps up his Las Vegas reporting from this years Acumatica Summit with a summary of what hes learned.

52
article thumbnail

Archeologists uncover tax fraud in ancient Rome

Accounting Today

Court documents from an ancient tax fraud and forgery case show that tax evasion was an issue even 2,000 years ago.

Tax 69

More Trending

article thumbnail

Convicted hedge fund trader wins cut in prison term in tax scandal case

Accounting Today

The massive scandal cost Denmark's treasury a total of 12.7 billion kroner ($1.8 billion).

Tax 64
article thumbnail

Rightworks to Host RightNOW 2025 Event This May in Nashville

CPA Practice

Geared toward accounting firm leaders, firm staff, tax practitioners, and small and midsized business finance professionals, RightNOW 2025 will be held from May 19-21 in Nashville.

article thumbnail

Leadership transitions: A chance for change

Accounting Today

A change in command is a natural time for firms and their leaders to take stock of where they are, and to consider new directions, new ideas and new approaches.

59
article thumbnail

IRS Adds 18 New Members to Internal Revenue Service Advisory Council for 2025

CPA Practice

Established in 1953, the IRSAC is an organized public forum for IRS officials and representatives of the public to discuss a broad range of issues in tax administration.

Tax 52
article thumbnail

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.

article thumbnail

Multi-entity complexity and family office clients

Accounting Today

For accountants with clients with multiple entities, one of the biggest bottlenecks is in multi-entity consolidation, especially family offices. How can you, as their trusted advisor, help combat the issue?

article thumbnail

Social Security Raises Payments, But Fairness Act Implementation Lags

CPA Practice

If those with public pensions like teachers, police officers and firefighters are counting on a Social Security payment following the enactment of the Social Security Fairness Act, that's going to be a whilereportedly a year.

52
article thumbnail

Are Employee Wages Tax Deductible If You’re a Sole Proprietor?

Patriot Software

Small business tax deductions provide a great way for business owners to offset expenses and lower tax bills. And in business, expensesespecially your employees on payrolladd up quickly. Are employee wages tax deductible? If youre a sole proprietor or single-member LLC who files Schedule C, read on.

Tax 52
article thumbnail

2 in 5 Americans in a Relationship Have Kept a Financial Secret From Their Partner, Survey Finds

CPA Practice

Many Americans in committed relationships keep financial secrets. Here's what they're hiding and how couples manage their bank accounts, according to Bankrate.

article thumbnail

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.

article thumbnail

My Teaching Method

Withum

I have been teaching college as an adjunct since 1976, though not consecutively. I have taught fourteen different courses at three universities (and taught most of these courses multiple times). Additionally, I received an innovative teaching award, so I could consider myself an experienced educator. Now to my point. Textbooks Versus Projects Versus Real-World Situations There are many different teaching methods.

article thumbnail

Technology Solutions for FASB ASU 2023-09 Compliance

CPA Practice

Three ways tax provision software can help organizations comply with FASB's standard on income tax disclosure requirements and five key factors to consider when choosing a solution.

article thumbnail

Tax Strategy: Developments in the taxation of digital assets

Accounting Today

Inside the IRS's recent focus on broker reporting of digital asset transactions and the Form 1099-DA.

Tax 45
article thumbnail

Marsico Financial Group Adds Care Accounting in Pennsylvania

CPA Practice

Pittsburgh-area accounting and financial advisory services firm Marsico Financial has acquired Care Accounting, a firm based in Beaver Falls, PA.

article thumbnail

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.

article thumbnail

It's time to modernize the painfully obsolete $150K PAL threshold

Accounting Today

While other parts of the Tax Code are updated routinely, the passive activity threshold threshold has stayed frozen in time, punishing hardworking Americans.

Tax 40
article thumbnail

Ignition Names New CEO and CFO

CPA Practice

The company said Jan. 28 that it has appointed former president Greg Strickland as CEO, succeeding Guy Pearson who transitioned to executive chairman, and Amy Foo as CFO.

40
article thumbnail

Bessent sworn in as 79th Treasury Secretary

Accounting Today

Bessent is expected to be a key advocate for the Trump administration's much-anticipated tax cut package.

Tax 59
article thumbnail

FASB Names Four New Not-for-Profit Advisory Committee Members

CPA Practice

As a resource for the Financial Accounting Standards Board, the NAC obtains input from the not-for-profit sector on existing financial reporting guidance, current and proposed technical agenda projects, and longer-term or pervasive financial reporting matters affecting those organizations.

article thumbnail

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.

article thumbnail

Power BI Planning and Forecasting: A Guide to Smarter Business Decisions

Acterys

Staying ahead in business means making data-driven decisions quickly and confidently. Microsoft Power BI has become a go-to business intelligence tool, empowering organizations to create dynamic reports and analyze historical data. But did you know Power BI also excels as a platform for planning and forecasting? This guide explores Power BI planning and forecasting capabilities, offering insights into implementation, best practices, and considerations for achieving accurate forecasting with ease

article thumbnail

Alinea CPAs Acquires Matthew P. Roth and Co. in Ohio

CPA Practice

The acquisition is part of Dayton, OH-based Alinea CPAs' strategic plan to strengthen its private company practice in the Cincinnati area.

cpas 40
article thumbnail

KPMG UK Partners Discover Layoffs Are the Secret to Record Payouts

Going Concern

Going Concern is often accused of sensationalizing in headlines and it’s a completely valid criticism because yeah, that makes for funny stuff (it’s really not that serious, you guys). Some of the time the criticism is valid. In the case of this article, we’ve simply reworked the headline from a story published today in The Telegraph.

article thumbnail

Trump Offers Buyouts to Federal Employees Resisting In-Person Work

CPA Practice

The buyouts, which will run throughSept. 30as long as the employees resign byFeb. 6, were offered in an email to federal employees that also warned the administration was seeking a more streamlined and flexible workforce.

52
article thumbnail

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

article thumbnail

Must-Have Tools Your Skagit County Small Business Needs To Stay Ahead in 2025

SkagitCountyTaxServices

There are so many deadlines and requirements for business owners to keep up with right now. I feel your pain. Are you doing okay with staying on top of them (or at least keeping your head above water)? Obviously, the big one happening right now is tax season (which is open this week, as of January 27th). But you may also need to allocate some of your attention to your 2021 tax return if you claimed the Employee Retention Credit for that year.

article thumbnail

Dalton Knecht: Turning a Draft Setback Into a Financial Advantage

Withum

Dalton Knecht emerged as one of the superstars from the March Madness tournament. The former SEC Player of the Year was projected to be a top 10 pick in this years NBA draft. Knecht even worked out with the Portland Trail Blazers, who held the 7th pick and considered selecting him. However, they ultimately chose Donovan Clingan from Connecticut. Despite his high projections, Knecht fell to the Los Angeles Lakers with the 17th overall pick, leaving many wondering why he dropped so low.

article thumbnail

Anders Managing Partner Robert Minkler Honored as a 2025 St. Louis Titan 100

Anders CPA

Managing Partner Robert Minkler, Jr. has been selected as a 2025 St. Louis Titan 100, a prominent recognition of the regions most influential business leaders. The national award celebrates C-level executives from eight distinct regions who are distinguished and preeminent in their industry. Award winners are chosen based on exceptional leadership, vision, passion and influence.

CPA 52
article thumbnail

Empowering tax leaders: A checklist for early digital transformation involvement

ThomsonReuters

As a tax leader, seize the opportunity to shape your organization’s digital transformation from the ground up. By involving your tax department from the very beginning, you can significantly boost the success and efficiency of these initiatives. This proactive approach fosters a more integrated, compliant, and strategic transformation, ultimately driving greater value for your organization.

Tax 52
article thumbnail

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.