Wed.Dec 18, 2024

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Accountants Guide to Integrating a CRM

Canopy Accounting

Client relationship management (CRM) software helps companies across different industries manage their client connections and communication, enabling businesses to provide the best user experience.

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All I Want for the Holidays Is…. A Tax Provision Specialist

Withum

The end of the year is a busy time for many of us. Preparing for the upcoming holidays, spending time with family and friends, and planning for the New Year take a lot of time and commitment. Countless to-do lists and responsibilities at home and work make the most wonderful time of the year more stressful than it needs to be. Finance teams planning for their year-end financial statement audit have an even longer list of things to think about at the end of the year, including income statements,

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Data Confidence: The Key to Unlocking Strategic Growth in Finance

Accounting Insight

Why accurate, connected financial data drives business success The growing importance of data confidence in finance Accurate, real-time financial data has become essential to making sound decisions and driving strategic growth in the economic landscape of 2024. Yet, many finance leaders face significant challenges in achieving data confidence, due to outdated processes and fragmented systems.

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Navigating IRS Form 8275: Key Takeaways from Fact Sheet 2024-32 on IRC Section 280E Disclosure Standards

Withum

On Thursday, December 12, 2024, the Internal Revenue Service (IRS) released a fact sheet addressing Form 8275 and the disclosure of tax positions related to IRC section 280E. Form 8275 is used by taxpayers to disclose positions taken on tax returns for which substantial authority does not exist. Substantial authority is defined as a tax return position that has more than a 40% chance of success based upon its merits.

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Forecasting Failures Are Costly: Here's How To Fix Them

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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.

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Is Your Income Statement Misleading You? LTM Delivers Deeper Insights

Basis 365

Why the Income Statement Should Be Viewed Using the Latest Twelve Months (LTM) In the world of financial reporting, convention often guides the format and frequency of the statements presented to management, investors, and other stakeholders. One such convention is presenting the income statement on a year-to-date (YTD) basis often using the calendar or fiscal year as the primary frame of reference.

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The Hard Truth About Hiring an Outsourced Accountant: What You Need to Know

IgniteSpot

Hiring an outsourced accountant is no doubt a game changer for your business, but before you take the plunge, there are a few things you should knowboth the good and the not-so-good. In this post, Ill share four major benefits of outsourcing your accounting, along with three potential downsides, so you can make an informed decision. Lets make sure this relationship is built to thrive, not flop.

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QBO Tags Will No Longer Be Supported — And The Change Hits During Tax Season

Nancy McClelland, LLC

Did everyone get the memo? QuickBooks Online will no longer support tags, and they’re making the change one week before the S-Corp and Partnership tax deadline. While I appreciate the need for this kind of decision, I encourage Intuit to reconsider the timing of big changes so that they come between May and November. It’s not just tax pros that struggle with “busy season”… it’s also bookkeepers and CAS practices that have to tie out the annual financial statem

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The 2024 Top 100 People: Work-life balance — myth or reality?

Accounting Today

The profession's most influential ponder whether personal and professional commitments can exist in harmony.

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IRS Urges Many Retirees to Make Required Withdrawals from Retirement Plans

Insightful Accountant

The Internal Revenue Service today reminded those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans.

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SEC approves PCAOB's 2025 budget

Accounting Today

The Public Company Accounting Oversight Board's 2025 budget totals $399.7 million, and the accounting support fee totals $374.9 million.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

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

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AccountingDepartment.com Gears Up for its 11th Vistage ChairWorld

AccountingDepartment

We're happy to announce that AccountingDepartment.com is gearing up for its 11th Vistage ChairWorld event in January! As a proud National Sponsor for the last 11 years, this event holds a special place in our hearts, and we can't wait to reconnect with familiar faces and forge new connections in 2025.

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Is Overtime Taxed Differently Than Regular Wages?

Patriot Software

If you have nonexempt employees, you have to pay them overtime wages whenever they work overtime hours. In each pay period, you need to track employee time worked. Then, at the end of the pay period, you will calculate employee compensation. You will also have to withhold employment taxes.

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California Securities Attorney Charged with Tax Crimes

CPA Practice

A grand jury in San Diego has returned an indictment unsealed charging a California attorney with tax evasion, filing a false tax return and failing to file tax returns with the IRS.

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2024 Top 100 People extra: Striking a balance

Accounting Today

As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "Do you feel you have work-life balance? If so, how have you achieved it?

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Book of Secrets on the Month-End Close

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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At a Glance: The Average American Household Budget

CPA Practice

The average U.S. household spends more than $70,000 on housing, meals, transportation, health care and more. How does your household compare?

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It's never too late for year-end tax planning

Accounting Today

Consider this host of strategies to help clients keep more of what they earn.

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Crowe Launches Cyber Risk Management Solution

CPA Practice

The top 15 accounting firm and X-Analytics, a cyber risk decisioning application, announced Dec. 17 the launch of Crowe Cyber Economic Risk Analyzer.

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Major AI players back Basis with $34 million

Accounting Today

AI accounting platform Basis received $34 million in Series A funding in a round led by Khosla Ventures which included former US Treasury Secretary Larry Summers plus officials from Google, OpenAI.

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How To Break Digital Transformation Barriers And 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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Largest Online CPE Conference for Accountants Underway Wednesday and Thursday

CPA Practice

The event is free for professionals, thanks to the sponsorship of several leading accounting and tax technology providers. All sessions are NASBA certified for CPE credit, and some sessions are IRS certified for CE credit.

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Top New Products 2025: Call for nominations

Accounting Today

Accounting Today is asking for submissions for its annual Top New Products list.

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SEC OKs PCAOB Budget for 2025

CPA Practice

The 2025 PCAOB budget totals $399.7 million, and the accounting support fee totals $374.9 million, of which $346.1 million will be assessed on public company issuers and $28.8 million will be assessed on registered broker-dealers.

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Shopify to 'depreciate' AvaTax for Shopify Plus April 30, 2025

Insightful Accountant

Shopify store users who have relied on Avalara for their sales tax calculations will need to switch to a new "Avalara for Shopify" integration prior to April 30, 2025.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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How to Work With a Virtual Assistant

Ryan Lazanis

Offshoring virtual assistants came with challenges. Learn how I tackled them and found success, even with no prior experience! The post How to Work With a Virtual Assistant appeared first on Future Firm.

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How To Acumatica - Amazon Returns, Exchanges and Refunds

Insightful Accountant

Enhancements to Acumatica have streamlined the import of returns, exchanges and refunds from a user's Amazon Store(s). A summary of the steps involves is outlined in this "How to" feature.

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M&A roundup: From Minnesota to Memphis

Accounting Today

Two Minnesota firms combine; Smith + Howard expands to Richmond; and more recent accounting mergers.

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Sikich Introduces Virtual Chief AI Officer Service

CPA Practice

The Chicago-based professional services firm has launched its vCAIO service, a strategic solution providing organizations executive-level AI guidance without the overhead of a full-time hire.

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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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Platform Accounting Group adds Illinois and Indiana firms

Accounting Today

The additions bring the total firms that have joined the Utah-based company this year to 12.

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Breaking News: QBO to stop supporting 'Tags'

Insightful Accountant

As of March 8, 2025, QuickBooks Online will stop supporting the use of 'tags'. An option to migrate existing tags to custom fields will be made available in February of 2025.

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Jen Hamilton on the 6 Pillars of Success in an Accounting Firm

Canopy Accounting

In this episode of the Canopy Practice Success Podcast , host KC Brothers talks with Jen Hamilton, a former CPA turned Fractional COO. She shares her journey from traditional accounting to operational consulting, emphasizing the power of modern tools to boost productivity and elevate client service.

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Cash Flow Mastery Talk with Cash Flow Mike: 2025 Webinar Series

Insightful Accountant

Are you ready to master your cash flow and drive your business to new heights in 2025? Join Cash Flow Mike in his transformative webinar series, "Cash Flow Mastery Talk." Register once and youll be registered for all of the sessions.

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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.