Wed.Jan 29, 2025

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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 90
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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?

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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.

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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.

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The Silent Crisis: Why Finance Lags in Digital Transformation and How to 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?

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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 122
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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.

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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.

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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.

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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.

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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 73
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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!

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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.

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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.

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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.

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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
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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.

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How to Handle an Upset Client

Ryan Lazanis

Every firm will have unhappy clients. Discover quick and effective ways to turn situations around and keep clients happy. The post How to Handle an Upset Client appeared first on Future Firm.

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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?

Account 64
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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
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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 53
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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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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.

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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

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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.

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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.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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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.

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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.

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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.

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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.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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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.

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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.

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2025 Tech Company Tax Tips: Deadlines to Know

Shay CPA

Financially speaking, these are uncertain times for businesses across the U.S. As the new administration ramps up, many folks are speculating about whether the Tax Cuts & Jobs Act (TCJA) will expire later this year or get an extension. Talks of tariffs are adding another layer of ambiguity. It might feel like theres a lot of shifting sand under your feet.

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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
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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.