Wed.Nov 27, 2024

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Notable 401(k) and IRA plan changes for 2025

Accounting Today

The IRS introduced changes to certain contribution limits to 401(k) and retirement plans for 2025, while some limits will remain the same.

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Elevating Customer Experience with Effective Tax Solutions

CPA Practice

By Mindy Cunningham. Customer experience (CX) has emerged as a pivotal driver of success across industries, with studies revealing its profound impact on brand loyalty and revenue growth. Research has shown that 32% of consumers will abandon a brand after one bad experience and 86% are willing to pay more for a good experience. These statistics highlight an undeniable reality: delivering outstanding CX is not optional—it is a strategic imperative, even in specialized sectors like tax technology.

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IRS faces steep budget cuts without congressional action

Accounting Today

The Treasury Department is warning Congress that it needs lawmakers to unlock $20 billion in funding for the Internal Revenue Service that could be rescinded due to duplicative legislative language.

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Understanding Employees’ Preferences: The Key to CPA Firms Attracting Top Talent in 2025

CPA Practice

By Steve Saah. The field of public accounting is undergoing significant change, from rapid advancements in technology to evolving client expectations, including increasing demand for strategic advisory services. However, in 2025, many CPA firms will be dealing with a challenge that is far from new: attracting skilled talent. Research for the 2025 Salary Guide From Robert Half found that 85% of finance and accounting managers in the U.S. are finding it difficult to locate skilled professionals av

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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!

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On the move: MACPA hosts swearing-in for new CPAs

Accounting Today

INCPAS announces awards finalists; ConvergenceCoaching graduates Transformational Leadership Program fall class; and more news from across the profession.

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Leverage FP&A for Smarter Financial Planning

AccountingDepartment

For any business owner, prioritizing the company’s 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 hasn’t 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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EY’s New Global Chief Innovation Officer Says the Thing

Going Concern

This week, EY announced the appointment of Joe Depa (literally who?) as Global Chief Innovation Officer. If you were hoping the press release would give you his resume, you’ll be disappointed to find out it drops no names. Throughout the last decade, Depa has worked closely with C-suite leaders and boards to bring innovative products and services to market, improve client and employee experiences, and help enhance operational efficiencies through technology.

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Can PE buy transformation?

Accounting Today

Many private equity-backed firms at Accounting Today's PE Summit think so, along with much more.

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Black Friday / Cyber Monday Deals for Bookkeepers and Accountants – 2024

Nancy McClelland, LLC

I’m still a little confused as to how it became a thing for accounting and bookkeeping services to advertise Black Friday or Cyber Monday specials… does that feel weird to anyone else? Just me? Hmm. Regardless, there are some really good ones out there. I’ve rounded up a few that I’m most excited about, and if you decide to spend your weekend shopping online for good deals to match your career goals for the next year, consider this a shortcut.

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Macy's touted a metric that had been juiced for years

Accounting Today

The retailer said the incident involved only one former employee, who had hidden as much as $154 million of delivery expenses since 2021.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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4 Easy Tax Season Marketing Tactics

Ryan Lazanis

Make tax season marketing manageable with these 4 easy tactics. Keep your campaigns effective without overloading your schedule. The post 4 Easy Tax Season Marketing Tactics appeared first on Future Firm.

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Get intentional and reclaim your calendar

Accounting Today

By viewing time as a valuable asset — much like the financial assets you manage for clients — you can make better choices about how you invest your hours.

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Maximize Benefits of a Solo 401(k) for Solo Business Owners with No Employees

LSLCPAs

As a business owner, you know you must plan for retirement, but who has time? Three things about that: 1) It does not take much time compared to the tax savings and value you will receive for doing it. 2) Contributing to your retirement is as important as managing your day-to-day operations, because you DO. The post Maximize Benefits of a Solo 401(k) for Solo Business Owners with No Employees appeared first on LSL CPAs.

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The Morgan Library

Withum

The Morgan Library is one of the classiest and most interesting museums in New York and, by extension, the entire country. It is certainly worth a visit now and then to check out the exhibitions and permanent collections. Two weeks ago, I paid a quick visit to see the museum’s current exhibition on Belle da Costa Greene. I first learned about her in The Personal Librarian , a work of fiction by Marie Benedict and Victoria Christopher Murray.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Top Remote Accountants of the Week | November 27, 2024

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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5 Tax Moves You Can Make Before the End of the Year

Shay CPA

As we step into Q4 2024, it’s time to start thinking about year-end to-dos. That includes some tax preparation. Maybe your company files its taxes in April or is on its own fiscal year. Either way, there are a few steps you can take this fall and winter to limit the amount you owe to the IRS when your tax bill does come due. Optimal tax savings require ongoing effort throughout the year to track things that can qualify for deductions and credits.

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Definition of a Ponzi Scheme

FraudFiles

Tracy Coenen explains what a Ponzi scheme is: a specific type of investment scheme in which the perpetrator recruits investors and then pays their "investment returns" with money from new investors.

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New playbook to help accountancy businesses improve customer retention

Accounting Insight

Leading outsourced communications provider Moneypenny has launched a new playbook to help accountancy businesses improve customer retention. Titled ‘Retaining Customers and How to Unlock Growth,’ the playbook makes a compelling case for businesses to reinvest in client retention strategies and outlines how brilliant customer care is crucial to unlock growth and achieve competitive advantage.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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401(k) Contribution Limits 2025, Plus IRA Contribution Limits & More [Chart]

Patriot Software

How much can employees contribute to their retirement plans? Whether investing in a 401(k), IRA, or another retirement plan, you and your team should understand the rules and limits for 2025. Use our quick-reference chart to learn 401(k) contribution limits 2025, IRA contribution limits, and more.

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Murph's Payroll App Comparison

Insightful Accountant

December 12 is the upcoming date for our next 'Be Insightful' Premium Content App Comparison, now covering fourteen Payroll Apps.

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The Rise of Competitive Socialising: A New Era of Experiences

Menzies

Menzies LLP - A leading chartered accountancy firm. In recent years, a clear trend has emerged in the social landscape: competitive socialising. This phenomenon combines new experiences and entertainment with the joy of spending quality time with friends and loved ones. What is Competitive Socialising? At its core, competitive socialising involves activities that encourage friendly competition among participants.

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