MyIRSRelief

FEBRUARY 21, 2025

Running a business in Los Angeles comes with its fair share of challenges, and one of the most daunting can be navigating the complexities of Californias Employment Development Department (EDD) payroll tax requirements. For business taxpayers facing EDD employment payroll tax controversies, the stakes are high. Unpaid back taxes, EDD audits, penalties, and unresolved tax issues can lead to financial strain, legal complications, and even the risk of business closure.

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payroll tax payroll Tax audit 130

Accounting Today

FEBRUARY 21, 2025

A technical glitch prevented Internal Revenue Service officials from notifying laid-off employees by email, so the IRS will be sending them letters, instead.

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Tax 95

CPA Practice

FEBRUARY 21, 2025

The Tax Blotter is a round-up of recent tax news briefs and tax court rulings.

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Randal DeHart

FEBRUARY 21, 2025

If you've been a long-time reader or a contracting company owner, you've probably heard about " Cost of Goods Sold " (COGS). But what does it really mean, and why is it crucial for your construction business's success? Understanding COGS isn't just about accountingit's about making smart decisions for profitability, pricing, and more. 1. What is the Cost of Goods Sold (COGS)?

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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.

Finance

CPA Practice

FEBRUARY 21, 2025

There were five innovation themes that percolated to the top of my list, which I believe we will see integrated into products we use in our homes, and possibly our offices over the next few years.

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Accounting Today

FEBRUARY 21, 2025

Brown Plus appoints first information technology director; IFRS Foundation announces new Advisory Council chair; and more news from across the profession.

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GrowthForceBlog

FEBRUARY 21, 2025

8 min read February 21st, 2024 For many small and medium-sized enterprises (SMEs), the end of the fiscal year coincides with the end of the calendar year. This means it is time for financial leaders to begin closing the financial books. Key Takeaways Reconcile Transactions and Accounts: This step in the process can be tedious because you have to look through minute details while paying exceptional attention to detail.

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Accounting Today

FEBRUARY 21, 2025

Maureen Churgovich Dillmore will oversee the expansion of Ascend's growth platform for regional accounting firms into new U.S. markets, effective Feb. 17.

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accounting firms Account accountant accounted 59

CPA Practice

FEBRUARY 21, 2025

A program authorized through the Department of TreasurysBureau of the Fiscal Serviceallows for the reduction of your refund to pay down specific debts.

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Tax income tax 52

Accounting Today

FEBRUARY 21, 2025

Our profession has withstood many sea changes and survived them and then some.

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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.

Account

CPA Practice

FEBRUARY 21, 2025

Managing intercompany accounting for global or multi-entity companies is full of complexity, from regulatory compliance to financial risks.

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Accounting Today

FEBRUARY 21, 2025

Plus, Lili announces international payment solution; Foxit debuts new versions of desktop, PDF conversion products; and other accounting tech updates.

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Technology accounted Account accountant 59

FraudFiles

FEBRUARY 21, 2025

Tracy talks about how experts use estimates when they calculate economic damages. Are you speculating or guessing? Or do you have a reasonable basis for your numbers?

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Accounting Today

FEBRUARY 21, 2025

To make artificial intelligence worthwhile as an accounting tool, companies must find ways to balance gains in efficiency with the ethical risks it presents.

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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.

accounting and finance

Canopy Accounting

FEBRUARY 21, 2025

Traditionally, busy season in the accounting industry has been a time to cancel all personal plans, batten down the hatches, and grind through overtime until your family barely recognizes you, but with the right technology, guardrails, and strategic planning, it doesnt have to be.

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accounted Account accountant 52

Dent Moses

FEBRUARY 21, 2025

A recent court ruling means businesses must file their Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act (CTA). New Deadlines: Most businesses must file by March 21, 2025 , if you have not already filed. New businesses (formed on or after Feb. 18, 2025) must file within 30 days of creation. Businesses with disaster relief extensions should follow those specific deadlines.

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Wellers Accounting

FEBRUARY 21, 2025

Tom Biggs explains the various end of tax year considerations, and strategies, that form effective tax planning to potentially reduce your bill.

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SchoolofBookkeeping

FEBRUARY 21, 2025

Introduction Welcome to another lively Workshop Wednesday where we engage in casual conversations about serious workflows. This week, we're diving into the pros and cons of using QuickBooks. QuickBooks and the Accountant Community Since the mid-2010s, QuickBooks has been a cornerstone for accountants, thanks to its robust features and comprehensive support network.

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quickbooks accounting software basic accounting accounted 52

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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.

Technology

Withum

FEBRUARY 21, 2025

The Housing Opportunity Through Modernization Act (HOTMA) was signed into law on July 29, 2016, amending many aspects of multifamily housing programs (as well as programs administered through the Offices of Public and Indian Housing and Community Planning and Development). The U.S. Department of Housing and Urban Development (HUD) did this in the interest of aligning its requirements across its programs or because the underlying program statute required HUD to make the revisions.

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Accounting Today

FEBRUARY 21, 2025

Prosecutors and regulators are investigating a deal between CrowdStrike Holdings and a technology distributor to provide cybersecurity tools to the IRS.

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Tax 40

Dent Moses

FEBRUARY 21, 2025

This series is intended to cover the most common deductions. Please keep in mind that there are always exceptions; whats more, your situation or facts may be different from someone else. We recommend that you consult with your tax advisor before taking any action. Part 1: The Basics Part 2: Deductions and Medical Expenses Part 3: Deduction for Taxes Part 4: Deducting Mortgage Interest & Investment Interest Part 5: Contributions & Charitable Giving Part 6: Casualty & Theft Losses Part

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Accounting Today

FEBRUARY 21, 2025

Cruise operators may yet avoid paying more U.S. corporate taxes despite threats from U.S. Commerce Secretary Howard Lutnick to close favorable loopholes.

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corporation tax Tax tax planning 40

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.

Account

CPA Practice

FEBRUARY 21, 2025

The Alliance for Retired Americans leader Richard Fiesta released the following statement on the chaos created by the Trump Administration at the Social Security Administration.

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payroll Tax 103

Accounting Today

FEBRUARY 21, 2025

President Trump is expected to sign a memorandum that opens the door to levies in response to digital services taxes some countries impose on U.S. tech giants.

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Going Concern

FEBRUARY 21, 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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accounting firms Technology Tax Account 52

CPA Practice

FEBRUARY 21, 2025

Small businesses employ half the U.S. workforce and they're already struggling to cope with the consequences of Trump's trade wars.

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Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

AP Automation

Going Concern

FEBRUARY 21, 2025

Last week, Deloitte US told government-facing staff to remove pronouns from their email signatures in reaction to the Ending Radical And Wasteful Government DEI Programs And Preferencing executive order signed by President Trump on January 20. Now KPMG, a small potatoes federal contractor compared to Deloitte, is doing a little diversity, equity, and inclusion housekeeping of its own according to Financial Times.

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Accounting Today

FEBRUARY 21, 2025

Trump needs as much revenue as he can get as Republicans in Congress work to iron out a plan to extend the 2017 tax cuts that are due to expire later this year.

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