Accounting Today

JANUARY 10, 2025

The new administration has discussed creating a strategic Bitcoin reserve. What accounting changes would we see as a result?

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Going Concern

JANUARY 10, 2025

The Ohio Society of CPAs announced yesterday that their state is leading the way in alternative pathways to CPA licensure, officially. Here’s what they said: Ohio Governor Mike DeWine signed House Bill 238 into law on Jan. 8, which includes OSCPA-backed legislation that will position Ohio as a national leader in addressing the dire CPA shortage.

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Accounting Insight

JANUARY 10, 2025

2024 was certainly a year of discovery and rapid progression for AI and automation. We witnessed the widespread adoption of tools like ChatGPT to generate and speed up idea development, create structure and conduct research. This widening use of generative shows a growing acceptance of how it can benefit people in business as well as for personal use.

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Accounting Today

JANUARY 10, 2025

Newly expanded and improved tools will be available when tax season kicks off this month.

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Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

Finance

CPA Practice

JANUARY 10, 2025

Currently, only individuals and households that reside or have a business in Los Angeles County qualify for tax relief. However, the same tax relief will be offered to any counties designated by FEMA in the coming days or weeks.

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Accounting Today

JANUARY 10, 2025

Intuit guarantees tax refunds 5 Days early into any bank account; IRIS beefs up Firm Management solution, customer success function; and other accounting tech news and updates.

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Accounting Today

JANUARY 10, 2025

Ericksen Krentel elects sixth MP; Yeo & Yeo, Grassi and BMSS move offices; IFRS Foundation appoints three new trustees; and more news from across the profession.

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CPA Practice

JANUARY 10, 2025

The IRS expects more than 140 million individual tax returns to be filed ahead of the April 15 federal deadline, with more than half of all tax returns filed this year with the assistance of a tax professional.

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tax return Tax income tax 105

Accounting Today

JANUARY 10, 2025

Some related-party 'basis shifting' arrangements are now considered 'transactions of interest' per the IRS's final regulations.

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CPA Practice

JANUARY 10, 2025

KPMG finished its 2024 financial year with global revenue of $38.4 billion, a 5.1% increase in local currency terms and 5.4% growth in U.S. currency over the previous year, the Big Four firm said last month.

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Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

Technology

Accounting Today

JANUARY 10, 2025

The deadline for our Top New Products list has been moved to Wednesday, Jan. 15.

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CPA Practice

JANUARY 10, 2025

We've normalized burnout in accounting for too long. We brush it off as an inevitable part of the profession, hiding behind phrases like, "It's just busy season" or "that's public accounting for you.

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Accounting Today

JANUARY 10, 2025

The proposed regulations involve several provisions of the SECURE 2.0 Act, including auto enrollment in 401(k) and 403(b) plans, and the Roth IRA catchup rule.

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CPA Practice

JANUARY 10, 2025

This CES was more about "experiences," and we were actively separating reality from hype. Many columns I've read on the CES event don't represent the reality I understood by attending.

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Technology 85

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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Accounting Today

JANUARY 10, 2025

Proposed new rules were issued for the tax credit for qualified commercial clean vehicles, along with guidance on claiming tax credits for clean fuel.

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Tax 81

IgniteSpot

JANUARY 10, 2025

On 12/27/24, Bench.co, an online bookkeeping service, suddenly shut down its platform, leaving over 11,000 businesses scrambling. What really happened?

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CPA Practice

JANUARY 10, 2025

After tying PwC for the lead in the second quarter of 2024, top 25 accounting firm Withum was alone at the top of the initial public offering auditor market share standings in Q3 with 11 audit clients that went public, according to Audit Analytics.

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Accounting Today

JANUARY 10, 2025

Regular reviews can determine whether a life insurance policy is performing according to expectations and meeting the client's current financial objectives.

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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?

Finance

CPA Practice

JANUARY 10, 2025

ABUKAI, a provider of expense management solutions, is offering people who have suffered from the January 2025 California wildfires a free one-year ABUKAI Individual Account.

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Accounting Today

JANUARY 10, 2025

Officials are weighing whether the bank now owned by UBS breached a 2014 plea deal in which it paid $2.6 billion and admitted helping Americans evade taxes.

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Insightful Accountant

JANUARY 10, 2025

As 1099 season approaches, accountants face the annual challenge of collecting W-9s from contractorsa task often fraught with inefficiencies and missed deadlines. Keeper offers a seamless solution to simplify this process.

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Accounting Today

JANUARY 10, 2025

Weeks after Danish judges sentenced the hedge fund trader to 12 years in prison, the country's lawyers turned to a U.S. court to recoup about $500 million.

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accounting and finance

FraudFiles

JANUARY 10, 2025

Hundreds of thousands of Americans get sucked into Multi-Level Marketing (MLM) companies each year. From Mary Kay to Amway to Herbalife to Avon, the list is seemingly endless. Each offers its own special spin on the products it sells, but the main focus of an MLM is on recruiting new members. (Warning: Theyll deny that [.

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Insightful Accountant

JANUARY 10, 2025

I.R.S. Free File opens today, Friday January 10, 2025. IRS Free File can only be started from the IRS Free File webpage at IRS.gov.

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Randal DeHart

JANUARY 10, 2025

It's amazing how some books stand the test of time. We usually refer to one of our most recommended, Stephen Covey's The 7 Habits of Highly Effective People, when we mentor our contractor clients and employees. Although it was first published three decades ago, its lessons are still incredibly relevant for business owners. You might wonder how these habits fit into today's landscape of changing trends, tight deadlines, and constant distractions.

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Wellers Accounting

JANUARY 10, 2025

Russell Flynn ACA explains how you can claim Research & Development (R&D) tax credits even if you've been awarded a grant.

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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!

Technology

Going Concern

JANUARY 10, 2025

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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