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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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

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

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CPA Practice

JANUARY 10, 2025

The Grant Thornton global network of accounting firms pulled in a record $8 billion in revenue during its most recent financial year that ended Sept. 30, 2024, a 6.6% increase in U.S. dollars and 8.8% in adjusted constant currency terms over its 2023 revenue of $7.5 billion.

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accounting firms Account accounted accountant 110

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Finance

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

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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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 97

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

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

Accounting Today

JANUARY 10, 2025

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

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Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

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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public accounting accounted Account accountant 81

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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Tax 85

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 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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Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Spend Management

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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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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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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California Expense Management Account accountant 52

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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Tax 52

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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Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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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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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Advertiser: Paycor

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!

payroll

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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