Mon.Feb 17, 2025

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Realizing It’s a Losing Fight, TPTB Are Caving on 150 Hours

Going Concern

Announced February 13 , the AICPA and NASBA are giving up the quixotic fight to maintain 150 hours of education as the sole standard across CPA jurisdictions and are now “advancing model legislative language that enables an additional path to CPA licensure.” As has already been made law in Ohio recently , the alternate pathway option doesn’t eliminate 150 hours entirely, rather gives aspiring CPAs another option.

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IRS Sets Stage for Musk Adviser to Access Taxpayer Data

CPA Practice

TheIRSis poised to hand over unlimited access to taxpayer data to an adviser from Elon Musks government efficiency group, according to a draft agreement between the tax agency and the Office of Personnel Management.

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Art of Accounting: SmartProof template available

Accounting Today

When staff use this SmartProof worksheet, they have a method to self-check and self-review their own work and fix any errors before it goes to the reviewer.

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U.S. Retail Sales Drop by Most in 2 Years in January

CPA Practice

The value of retail purchases, not adjusted for inflation, decreased 0.9% after an upwardly revised 0.7% gain in December, Commerce Department data showed Friday.

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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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GST Registration Can’t Be Rejected to the Applicant from Other State

VJM Global

Held by the Honble High Court of Andhra Pradesh In the matter of Tirumala Balaji Marbles And Granites vs. the Assistant Commissioner St and Others (W.P.No.1200/2025) The Petitioner applied for GST registration in the state of Andhra Pradesh. However, the proper officer rejected the application because the applicant and the authorized representative do not belong to the state of AP.

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What Plan Sponsors Should Know About Section 101 of SECURE Act 2.0

Withum

The SECURE Act 2.0 of 2022 introduces several significant changes aimed at enhancing retirement savings for American workers. Breaking Down Section 101 One of the key provisions, Section 101, focuses on expanding automatic enrollment in retirement plans. Heres what plan sponsors need to know: Automatic Enrollment Mandate: Section 101 mandates that new 401(k) and 403(b) plans must include an automatic enrollment feature.

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More Trending

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Voting Opens for 2025 Readers’ Choice Awards

CPA Practice

Voting in the 2025 Readers Choice Awards is now open. Each year, readers get the opportunity to show their support for the programs, hardware, services, and other technologies they use and trust.

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Fractional CFO vs. Controllers: Which Does Your Business Need?

Basis 365

If youre growing your business, your financial leadership is essential for sustainable success. However, not every business has the capacity or budget to hire a full-time, in-house Chief Financial Officer (CFO) or Controller. Thats where fractional financial professionals come in. But whats the difference between a fractional CFO and a fractional Controller, and which role would your business benefit from the most?

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Price of Eggs Hits All-Time High: How Cost of Everyday Consumer Goods is Changing

CPA Practice

At nearly $5 a dozen, the price of eggs just surpassed record highs, and while quite moderate in comparison, bread, electricity, gasoline and natural gas also saw meager month-over-month increases.

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AUP Inspections and the NYS Film Tax Credit Program

Withum

With New York State progressing towards extending and amending the Film Tax Credit Program, now is the time to make sure you have a trusted advisor who can help you navigate this tremendously beneficial tax credit. How Does the New York State Film Tax Credit Program Work, and Who Is Eligible To Claim the Credit? This $700 million per year program was created to encourage and increase the amount of film projects that are produced in New York State each year.

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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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Opinion: Americans Would Pay Higher Taxes to Save Social Security

CPA Practice

Voters are clear in how they want Congress to shore up the massively popular programs deteriorating finances, but lawmakers don't seem to be listening.

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Regulation CC: Preparing for Upcoming Threshold Increases and Common Sense Advice to Reduce Errors in Your Hold Procedures. 

Anders CPA

March 26, 2025, 11:00 am 12:00 pm (CST) Regulation CC, implementing the Expedited Funds Availability (EFA) Act, has been amended by the Board of Governors of the Federal Reserve System (Board) to increase threshold amounts effective July 1, 2025. Banks and credit unions should prepare for the upcoming changes while also reviewing hold policies and processes.

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Thank You 2025 ProAdvisor Award Applicants

Insightful Accountant

Applications for both U.S. and International ProAdvisor Awards for 2025 have now closed.

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Southwest Airlines to Cut 15% of Corporate Jobs

CPA Practice

Southwest Airlines Co. will cut about 1,750 jobs in its leadership ranks, a dramatic step to reduce expenses that mark the first layoffs in the carriers history.

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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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Securing Your Tax Practice: Essential Strategies for the Digital Age

Insightful Accountant

As tax season intensifies, cybersecurity has become a paramount concern for tax professionals nationwide. This weeks Tax Talk "Data Security Essentials for Tax Season," comes at a crucial time when cyber threats are escalating at an alarming rate.

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KSDT CPA Brings in Douglas N. Rice CPA in Florida

CPA Practice

"This merger strengthens our ability to provide top-tier accounting, tax, and advisory services while ensuring a seamless transition for all clients," KSDT CPA, one of the top 200 largest accounting firms in the U.S., said in a media release.

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February's QB Talks to Demonstrate the Power of Qvinci Reporting

Insightful Accountant

At QB Talks this month, Charles Nagel, the founder and chief technology officer of Qvinci, will demonstrate the power of Qvinci, illustrating it's reporting capabilities that QuickBooks just can't perform.

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Dealing with directors’ loan accounts

Inform Accounting

It is common for director-shareholders in family companies to have a loan account with the company. They can take a variety of forms; sometimes specific amounts borrowed outright as a short-term loan, but often informal transactions, such as cash withdrawals to meet personal expenditure, or personal expenses paid directly by the company.

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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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Think Like a Thief

FraudFiles

Fraud is committed by real people. They have real families and real jobs. They often are just like you and me. But what makes thieves different from a lot of us is their ability to lie and steal. Most of us would never seriously consider taking something that does not belong to us, especially not [.

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Virginia Passes Law Enabling Alternative Paths to CPA Credential

CPA Practice

Virginia passes state law to offer alternative to 150-hour rule for CPA credential. Candidates can now earn the credential with a 4-year degree, plus 2 hours of experience, and passing the CPA Exam.

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Preparing for the Unexpected: A Strategic Approach to Identify and Manage Risks

Menzies

Menzies LLP - A leading chartered accountancy firm. Would you risk it for a chocolate biscuit? We talk about risk a lot, from insignificant choices about what to eat through to decisions which can have a monumental impact on our lives and our businesses. We are often warned off from thinking it wont happen to me, but human nature can lead us to avoid dwelling too much on the negative as it can have a debilitating impact if not kept under control.

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Commitment and Accountability: The Cornerstones of Organizational Success

Withum

Creating a culture of commitment and accountability within an organization is essential for fostering a productive and positive work environment and can lead to higher levels of engagement, improved performance, and a stronger sense of ownership. This article explores key strategies organizations can implement to cultivate a culture where commitment and accountability thrive, ultimately driving success and growth.

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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.

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When the going gets tough – Expert advice, cash flow management & protecting value

Menzies

Menzies LLP - A leading chartered accountancy firm. Professional Advice Its easy to shun the professional advisors when things start getting tough, especially when you are worrying about money and costs. The most successful people recognise their own skill sets and surround themselves with experts for everything else. Tap into your professional advisors knowledge and their network of contacts to find the right advice.

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Trump Cabinet Member Blames Democrats for IRS Audit

CPA Practice

Secretary of DefensePete Hegseth accused former President Joe Bidens administration of rushing anIRSaudit into him in a post to social media platform X on Monday.

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