Thu.Feb 06, 2025

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Tax Relief for California Wildfire Victims

Withum

The California wildfires that broke out on January 7, 2025, have caused tremendous devastation to individuals and businesses alike. More than 29 people have died, and the wildfires have damaged more than 40,000 acres of land in and around Los Angeles. The fires have destroyed more than 12,000 homes and businesses and more than 180,000 people were under evacuation orders during the worst of it.

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The AICPA Gets Around to Looking Into If This Whole Private Equity Thing Requires New Independence Rules

Going Concern

Two years ago, two years after the first major private equity investment in a top 20 firm kicked off a flood of similar investments in some of the largest non-Big 4 firms in the country, the AICPA formed a task force to “look into issues raised by private equity investors in accounting.” And now the task force is about to solicit public comment on their preliminary conclusions.

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5 time management tips for accountants and CPAs

ThomsonReuters

In the fast-paced world of accounting and tax preparation, every minute counts. As an accountant or CPA, youre often juggling multiple clients, deadlines, and tasks, which can lead to overwhelming stress and burnout. According to the 2024 State of Tax Professionals Report , time management, meeting deadlines, and timely filing were the second highest set of challenges for survey respondents.

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State income tax rate changes for 2025

Accounting Today

Nine states are cutting their individual income tax rates in 2025.

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The Silent Crisis: Why Finance Lags in Digital Transformation and How to 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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Embracing 5 Generations in the Workplace

CPA Practice

Modern accounting firms are more age-diverse than ever, with most workplaces hosting five generations. While every person is an individual, each generation tends to be shaped by distinct historical events, cultural shifts and technological advancements.

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Third Group of Yearly Stock Market Performance and Inflation Charts

Withum

Following are my third and final group of 2024 market performance and related charts. These eight charts bring my total to 20. Each chart tells its own story, and when combined, they present the big picture of where we have been and an inkling of what could be expected in the future. I will also include all 20 charts in a booklet to illustrate my virtual presentation on February 20, 2025 for the East Brunswick Public Library.

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More Trending

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Re-electing S corp status after revocation

Accounting Today

As clients' businesses evolve, it sometimes makes sense for them to change how their companies are taxed.

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Fyle Announces QuickBooks Desktop Integration

CPA Practice

The expense management platform has integrated with QuickBooks Desktop, allowing businesses to manage and sync expenses with QuickBooks, which eliminates manual data entry and reconciliation.

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Tax Fraud Blotter: Dirty laundry

Accounting Today

Startup shut down; healthy, wealthy and crooked; won't ever stand the strain; and other highlights of recent tax cases.

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Intuit Connect Continues to Inspire with Learning on Firm of the Future

CPA Practice

Firm of the Future recently featured a year-end wrap-up of QuickBooks features to complement Main Stage presentations on the new Intuit Enterprise Suite and new features in QuickBooks Online.

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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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DeFi companies win reprieve on tax reporting

Accounting Today

Decentralized finance companies are breathing a sigh of relief after the Treasury and the Internal Revenue Service gave them a two-year delay on reporting.

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Cap on State and Local Tax Deductions Resulted in Higher Taxes, Says Survey of CPAs

CPA Practice

The survey was created to gauge the impact of the $10,000 cap on SALT deductions imposed by the Tax Cuts and Jobs Act (TCJA) in 2017. The cap is due to expire this year.

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GreenGrowth acquires retiring firm CGC

Accounting Today

GreenGrowth CPAs acquired retiring firm CGC Accountants & Advisors in a move to expand its new service niche.

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New NetSuite Solution Helps Businesses Manage and Grow Diverse Revenue Streams

CPA Practice

NetSuite SuiteSuccess Anything-as-a-Service (XaaS) Edition enables businesses with diverse product and service offerings reduce software costs and complexity, expand business insights, enhance the customer experience, and drive revenue growth.

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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.

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NetSuite rolls out AI agents, promises more to come

Accounting Today

NetSuite, during its SuiteConnect event in Manhattan, announced agentic AI enhancements to its solutions, and plans to roll out more in the future.

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U.S. Initial Jobless Claims Pick Up, Data Shows

CPA Practice

The level of initial claims remain generally in line with pre-COVID-19 levels, and private employment data fromADP Researchshowed a healthy pace of hiring in January.

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Florida CPAs push state for licensing changes

Accounting Today

The Florida Institute of CPAs gathered over 100 CPAs in Tallahassee to advocate for legislative priorities like innovative pathways to CPA licensure.

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AICPA Requests Changes to Tax Forms to Show Disaster-Impacted Returns

CPA Practice

The American Institute of CPAs requested that the IRS incorporate a checkbox and Federal Emergency Management Agency (FEMA) disaster number space into various tax returns.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

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.

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Top Remote Accountants of the Week | February 6, 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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Valentine’s Day Spending Forecast to Hit Record $27.5 Billion

CPA Practice

The most popular gift categories this year include candy (56%), flowers (40%), greeting cards (40%), an evening out (35%) and jewelry (22%).

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NetSuite Migrates to Oracle Autonomous Database

Insightful Accountant

NetSuite has announced their migration to the Oracle Autonomous Database to help organizations take advantage of enterprise-grade AI, security, performance, and innovation. It's the same technology as leading AI and Fortune 500 organizations rely on.

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Businesses Face Persistent Risks and Growth Opportunities as Global Economy Undergoes Transformative Shift

CPA Practice

A new study explores how businesses, executives and investors should rethink traditional approaches for navigating todays global macroeconomic environment.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

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.

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Cash Vs accruals

Accounting for Good

When managing your NFP organsiations finances, one of the most important decisions youll make is how to track income and expenses.

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FICPA Advocates for Effective, Efficient Licensure During CPA Day at the Capitol

CPA Practice

This year, the FICPA is supporting legislation that offers innovative pathways to CPA licensure in Florida while maintaining strong standards and protecting the public trust.

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NetSuite Launches New Anything-as-a-Service Solution

Insightful Accountant

New NetSuite SuiteSuccess Edition helps organizations with product and service offerings increase efficiency, expand insights, and enhance the customer experience.

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A Fresh Look at Payroll Providers – The Accounting Technology Lab Podcast – Feb. 2025

CPA Practice

In their latest video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss payroll providers and systems for accounting firms serving multiple clients.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

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.

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Xero Data Shows US Small Businesses See Improved Performance

Insightful Accountant

A new report from Xero highlights optimistic improvements for small business performance while noting both challenges and opportunities posed by proposed policy changes.

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NetSuite migrates to AI self-maintaining database

Accounting Today

NetSuite said it has moved its suite with all its data into an AI-driven self-maintaining database, part of parent company Oracle's cloud infrastructure.

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"Live from New York, it's 'SuiteConnect.'"

Insightful Accountant

During their one-day 'SuiteConnect' event in New York City, Oracle NetSuite has announced innovations to help businesses increase efficiency and drive success including new embedded AI functionality, product offerings and integrations.

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NetSuite launches solution for managing "Anything-as-a-Service"

Accounting Today

NetSuite, during its SuiteConnect event in Manahttan, announced the launch of NetSuite SuiteSuccess Anything-as-a-Service (XaaS) Edition, aimed at businesses with both product and service components.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

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.