Thu.Jan 09, 2025

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Top 5 Trends Impacting Accounting in 2025

Accounting Seed

The accounting landscape continues to evolve at a rapid pace with emerging technologies, shifting workforce dynamics, and new operational demandsall of which impact the way accounting teams operate, and businesses achieve growth goals. Based on the data found in the Office of the CFO reports from Piper Sandler , weve compiled the top trends shaping the future of accounting that organizations must embrace to stay competitive: 1.

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Update to sales tax requirements of selling into Canada

TaxConnex

A huge draw of eCommerce is that a sellers potential market might include many nations. And U.S. sellers looking to go international might naturally first look north. Canada is now the 11th largest market for eCommerce in the world, with a predicted revenue of more than 63 million (in U.S. dollars) by last year. Leading eCommerce market segments into Canada have included fashion, hobby/leisure, electronics, furniture/homeware and groceries, according to latest statistics.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below. As a refresher, this rule requires reporting of metrics at both the firm and the engagement levels.

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The best and worst states for sales taxes

Accounting Today

Data from the Tax Foundation's 2025 State Tax Competitiveness Index ranked which states compete on sales and excise taxes, and which don't.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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BDO USA Adds Blue Beyond Consulting in California

CPA Practice

The top 10 accounting firm said Thursday it will be adding 48 professionals to its management consulting practice from Blue Beyond Consulting, a San Francisco-based firm focused on the people side of business, in a merger that is expected to close on March 1.

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Tax Fraud Blotter: On the record

Accounting Today

Just a few tweaks; a favorite Uncle; it's taken care of; and other highlights of recent tax cases.

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New Cryptocurrency Reporting Requirements Impact Tax Season 2025

Insightful Accountant

Starting January 1, 2025, the implementation of Form 1099-DA and finalized crypto reporting regulations will significantly impact your tax preparation practice.

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2025 Tax Refunds: When Can You Get Your Refund? Date Estimate

CPA Practice

Everybody hates the IRS, but many of us love getting a tax refund! Find out when you can expect to get your refund if you file early. Even without a refund loan, you can usually get your refund in 2-3 weeks.

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IRS Free File starts Jan. 10

Accounting Today

The program will start accepting individual returns to be held for filing once tax season kicks off.

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Nation Pauses for Day of Mourning for Jimmy Carter

CPA Practice

The tradition has been held for presidents since the assassination of Abraham Lincoln, but has also been observed for other nationally respected leaders, such as Dr. Martin Luther King, Jr.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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The cost of statutory reporting errors and the need for ESG integration

ThomsonReuters

Blog home In the high-stakes world of business, accurate statutory reporting is crucial to avoid potential financial and reputational consequences. Surprisingly, statutory reporting processes are often overlooked or neglected in organizational improvement initiatives, even though they are recognized as a critical business need. As regulatory scrutiny tightens, even minor mistakes can lead to costly pitfalls.

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FREE Accounting Education Webinars — January 2025

Nancy McClelland, LLC

A few too-good-to-miss free resources have come through my inbox and socials recently, and I wanted to make sure to share the goodness with yall. Velocity 2025 – Virtual Annual Planning Retreat by Justine Lackey Date: Tuesday, January 10th Time: 12:30-4 pm EST Whats the disconnect between dreaming big and actually making it happen? You need a clearly articulated vision.

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Maximizing Profit Opportunities with Strategic Financial Forecasting

AccountingDepartment

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

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Learning from your failures

Accounting Today

Here are some life lessons I've learned from dusting myself off in sports, academics and my accounting career.

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Profit in the Details: Rethinking Spend for Monumental Impact

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

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How Bad Accounting Can Impact Your Business Tax Return

LSLCPAs

Accounting is more than just number-crunchingit’s the foundation of your financial stability and success. Yet, for many individuals and businesses, poor accounting practices lead to unnecessary stress, missed opportunities, and even costly tax consequences. If youve ever felt overwhelmed by your financial records or rushed to prepare your tax return at the last minute, this.

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Top Remote Accountants of the Week | January 9, 2025

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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Murph's 2025 Cybersecurity Software Survey Part 1

Insightful Accountant

Murph is back with his survey of various Cybersecurity software and hardware, ranking them into a composite five point score. In this edition (part 1) he reveals his Top 20 Anti-virus applications.

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M&A roundup: Big firms get bigger

Accounting Today

EisnerAmper merges in HDA Accounting; BDO USA adds Blue Beyond Consulting; and Brady Martz welcomes Green & Miller.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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How Much is a ProAdvisor Worth?

Insightful Accountant

It's been several years since an "Average Billing Rate Survey" was conducted for the ProAdvisor community. We are asking for your participation in this (non-scientific) survey of billing rates and methods.

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IRS, Treasury finalize rules for clean energy investments in low-income communities

Accounting Today

The Treasury Department and the Internal Revenue Service have released final rules and procedural guidance for the Section 48E(h) Clean Electricity Low-Income Communities Bonus Credit Amount Program.

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Embracing AI and Advisory Roles: Profit First with Debra Angilletta

Insightful Accountant

Join host Gary DeHart in an insightful conversation with business advisor Debra Angilletta, renowned for implementing the Profit First system in over 300 companies.

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AAM opens marketing award nominations, launches business development award

Accounting Today

The Association for Accounting Marketing is accepting nominations for the 2025 Marketer of the Year Award and launched the Business Developer of the Year award.

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Crafting Impact: Revenue Growth And Efficiency For Finance Professionals

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.

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Ramp Rolls Out Integration with Workday Financial Management

CPA Practice

The integration, announced on Jan. 9, streamlines and automates accounting processes to help shared customers close the books more quickly and accurately.

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Net at Work buys Sage and Acumatica practices from e2b

Accounting Today

Business and tech consultancy Net at Work has acquired the Sage and Acumatica practices of accounting and ERP product reseller and developer e2b teknologies.

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FAF Looks to Fill Key Leadership, Advisory Roles

CPA Practice

The open positions include chair and members of the Financial Accounting Foundation board of trustees, FAF executive director, aFinancial Accounting Standards Board member, and chair of theFinancial Accounting Standards Advisory Council.

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Extra filing time granted for Carter remembrance

Accounting Today

Any returns or payments due on Jan. 9 can be sent in on Jan. 10.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

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!

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IRS Reminder: Final 2024 Quarterly Estimated Tax Payment Due Jan. 15

Insightful Accountant

The Internal Revenue Service today encouraged taxpayers who paid too little tax in 2024 to make a fourth quarter estimated tax payment on or before Jan. 15, 2025.

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Accounting Firm Business Plan (Free Template + Instructions)

Ryan Lazanis

Use this accounting firm business plan template to get clear on where you want your firm to go and how you'll get there. The post Accounting Firm Business Plan (Free Template + Instructions) appeared first on Future Firm.

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UBS set to settle Credit Suisse US tax evasion case, WSJ reports

Accounting Today

UBS Group is close to making a settlement of at least hundreds of millions of dollars over violations by Credit Suisse of a decade-old agreement with the DOJ.

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4 Legal Elements of Fraud

FraudFiles

Tracy talks about the definition of fraud, and the four legal elements that are generally required. Laws vary from state to state, so you can see some variation here, but this is the textbook definition. The elements of fraud include: intentional misrepresentation, knowledge of the falsehood, reliance on the fact, and damage as a result. [.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.