Mon.Jan 27, 2025

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2025 Tax Filing Season Starts As IRS Begins Accepting Tax Returns Today

Insightful Accountant

The Internal Revenue Service opened the 2025 tax filing season today and is accepting and processing federal individual tax year 2024 returns.

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SEC Issues SAB 122, Officially Rescinding SAB 121

Withum

On January 23, 2025, the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 122 officially rescinding SAB 121. SAB 121 was issued by the SEC on March 31, 2022. The purpose, per the SEC, was to provide guidance on the accounting for obligations to safeguard crypto-assets that an entity holds for its platform users. Some of the key points from SAB 121: Safeguarding Obligations and Measurement : Entities that hold crypto-assets for their users would have been requi

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Ethical wills can be a crucial tool for estate planning

Accounting Today

They give advisors an opening into deeper conversations with clients, while their clients can express the larger vision behind their hopes for the future.

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What Should You Do If You Suspect Your Tax Preparer Is Being Investigated by the IRS?

CPA Practice

The following is a detailed look at why your preparer's legal troubles place you at risk, what signs might indicate they are under scrutiny, and which immediate steps you can take to protect yourself from civil and criminal tax exposure.

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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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Deloitte acquires cloud ERP/HCM platform

Accounting Today

Big Four firm Deloitte announced that it has acquired substantially all the assets from cloud ERP/HCM automation platform SimplrOps.

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Edge Marketing Launches Future-Ready Strategy that Integrates AI

CPA Practice

The new systems and protocols will ensure that AI is used not just effectively, but responsibly, enhancing creativity and optimizing performance all while

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Deloitte Acquires SaaS Technology Company SimplrOps

CPA Practice

The Big Four firm said Jan. 27 that it has acquired SimplrOps, a San Jose, CA-based boutique enterprise software-as-a-service technology company known for streamlining and automating Workday, SAP, and Oracle operations and implementations.

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CFOs plan smaller pay raises this year

Accounting Today

Fewer CFOs expect to give out pay increases to employees in 2025 and the raises are likely to be smaller, according to a new survey from Gartner.

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Common accounting terms for not for profit organisations

Accounting for Good

Are you a Not For Profit organisation? We know the terms and acronyms in accounting can be overwhelming at times.

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Art of Accounting: How to be a great employee, manager, partner, advisor and team member

Accounting Today

Whether you are the lowest-level employee or highest-level CPA firm owner or partner, your job is to provide services for the person hiring or engaging you.

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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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Accounting services not for profit

Accounting for Good

For many not for profit organisations having an internal finance department is costly. Outsourcing this function to professionals makes economic sense.

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IAASB and IESBA debut sustainability assurance, ethics standards

Accounting Today

The International Auditing and Assurance Standards Board and the International Ethics Standards Board for Accountants launched their sustainability standards.

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Sales Tax Trip Tuesday Time - January 2025

Insightful Accountant

That's right, Sales Tax Tuesday is back, but with a few changes. We are taking one four state trip per month and paying sales and other taxes in every state along the way. So join us for this first adventure. departing Wichita, Kansas.

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Intuit tests new interface combining QBO and Mailchimp

Accounting Today

Intuit is testing a new user interface that will combine features from QuickBooks Online and Mailchimp, both Intuit properties.

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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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Tax Deferral Opportunities Through New ETF Conversions: Section 351 Application

Insightful Accountant

Recent innovations in ETF structures are expanding tax-advantaged portfolio restructuring options for clients with concentrated positions in appreciated securities leveraging Section 351 of the IRS Code.

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Intuit Rolls Out Test of New Interface Combining QBO and Mailchimp

CPA Practice

Intuit said on Monday that it has begun testing a new QuickBooks interfacethat creates a combined QuickBooks and Mailchimp platform experience, which the Mountain View, CA-based company said will help businesses accelerate productivity and profitability.

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Acumatica Summit 2025 Day 1

Insightful Accountant

Live from Las Vegas, Murph brings you the latest news from the Acumatica Summit 2025.

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Donor-Advised Funds Are Growing, But If You Have One, You Should Shrink It

CPA Practice

The point of a donor-advised fund is to put money in the hands of charities, not grow it like another investment account.

Account 52
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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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Why the Human Element is Your Biggest Asset as a Business Advisor

Canopy Accounting

Looking for a way to give your firm a competitive advantage over the hundreds of thousands of licensed CPAs, experienced EAs, and talented business advisors in the U.S.?

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Cutting Services or Raising Taxes: State Lawmakers Weigh How to Fill Big Budget Gaps

CPA Practice

Leaders of several states are proposing cutting social programs such as child care, victim services and Medicaid, or raising taxes on cigarettes, spirits or households with the highest incomes, to balance state budgets.

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DeepSeek's overnight fame strains its systems, draws attacks

Accounting Today

The fallout from the seemingly overnight surge in interest around the Chinese AI upstart was swift, and severe.

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SD Mayer Merges in Ronald Ruttenberg & Co. CPAs in California

CPA Practice

Weeks after merging in San Francisco-based accounting firm Bogdan & Frasco, top 400 firm SD Mayer & Associates announced another deal on Monday, this time joining forces with Burlingame, CA-based Ronald Ruttenberg & Co. CPAs.

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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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Turning the Tide: How Mike Habib EA’s Los Angeles-Based Firm Appeals Negative Tax Outcomes

MyIRSRelief

Tax disputes can feel like an uphill battle. Whether youre facing an unexpected audit result, a denied tax claim, or a hefty penalty from the IRS, the emotional and financial toll can be overwhelming. For many taxpayers, the idea of challenging the IRS seems daunting, if not impossible. However, with the right representation, appealing negative tax outcomes is not only possible but can lead to significant victories.

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Scott Bessent Easily Confirmed as Trump’s Treasury Secretary

CPA Practice

The hedge fund manager is poised to be a key player asCongressfaces down more than $4 trillion in expiring tax cuts at the end of this year, which he warned during his confirmation hearing would have devastating consequences if allowed to lapse.

Tax 52
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Anders Selects the Cystic Fibrosis Foundation – Gateway Chapter as 2025 Charity of Choice

Anders CPA

Anders has named the Cystic Fibrosis Foundation Gateway Chapter as its 2025 Charity of Choice, coinciding with the 20th anniversary of the firms Charity of Choice program. Dedicated to funding research and providing support for those impacted by cystic fibrosis (CF), the foundation aligns with Anders ongoing commitment to community impact. Since 2005, the Anders Charity of Choice program has raised over $400,000 to support causes such as Missouri Veterans Endeavor, Lydias House, The Child Advoc

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Why is customer retention so important?

Accounting Insight

Many businesses overlook the value of repeat customers when growing their client base. Given that an average of 65% of a businesss revenue comes from repeat customers, customer retention has become critical to business success. It is one of the top priorities for business leaders across all sectors. Understanding the customer levels of loyalty There are several different customer types and various levels of customer loyalty.

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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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Clarification on Applicability of GST Provisions on Vouchers | Circular No. 243/37/2024-GST Dated 31st December 2024

VJM Global

The applicability of GST Provisions on vouchers has always been a matter of litigation wherein GST officials take different opinions creating ambiguity and litigations. Several questions are prevailing in the Industry to the taxability of vouchers such as: whether transactions in vouchers are considered a supply of goods or services; whether GST is leviable on the trading of vouchers by distributors or sub-distributors; Is GST applicable to unredeemed vouchers (breakage)?

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iplicit Secures £25 Million Investment from One Peak to Scale its Next- Generation Accounting Software Platform

Accounting Insight

New investment to fuel continued expansion and product innovation for UK cloud accounting software leader iplicit, the leading cloud accounting software platform purpose-built for the UK mid-market, has announced a 25 million investment from leading technology growth investor One Peak. This new investment marks iplicits first external institutional funding round and will be used to significantly accelerate iplicits product development and fuel its exponential growth.

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IRS Takes Some Job Offers Off the Table as Tax Season Begins

CPA Practice

Tax season 2025 began on Monday, but for some people who were set to start a career at the IRS during the agency's busiest time of the year, their new opportunity has come to a screeching halt because of a hiring freeze put in place by President Donald Trump during his first week in office.

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Trump repeats pledge to eliminate taxes on tips

Accounting Today

President Trump reiterated his pledge to eliminate taxes on income from tips during a rally in Las Vegas, where the hospitality and service industry is dominant.

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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.