Thu.Feb 20, 2025

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Report Shows Firms That Embrace AI Have Competitive Advantage

CPA Practice

The report reveals that mid-sized (21-50 employees) and large firms (over 200 employees) are leading AI adoption.

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Not for profit (NFP) self-review return: What you need to know

Reckon

The deadline for the new tax reporting requirements for Not For Profit (NFP) organisations with an active ABN is set for 31st March 2025. However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. Announced in 2021, the Australian government imposed the new self-reporting requirements to ensure that only eligible NFPs can access income tax exemption.

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Tips for Filing Income Tax Returns in 2025

CPA Practice

To avoid mistakes and potential processing delays, taxpayers should refrain from filing until they have received all necessarytax documents. Taxpayers should always carefully review documents for inaccuracies or missing information.

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IRS lays off thousands of employees during tax season

Accounting Today

The threatened layoffs of Internal Revenue Service employees appeared to be underway Thursday, with estimates of between 6,000 and 7,000 employees being laid off at the agency in the middle of tax-filing season.

Tax 122
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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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DOGE Claims It’s Saved $55 Billion, But Data Shows Far Less

CPA Practice

The federal cost-cutting effort dubbed the Department of Government Efficiency says it has saved $55 billion in federal spending so far, but its website only accounts for $16.6 billion of that.

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KPMG sees role for AI in sustainability

Accounting Today

AI can help reduce a company's environmental impact through data-driven analytics and optimization, though the energy burden of AI itself remains a challenge.

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More Trending

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Tennessee CPAs lobby for licensing changes

Accounting Today

Members of the Tennessee Society of CPAs visited the state capital in Nashville this week to lobby for changes in the licensure and mobility laws.

Tennessee 110
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Accounts Receivable Automation: The Complete Guide

Ryan Lazanis

Save time and effort with accounts receivable automation - the powerful solution to automate a manual accounting process. Learn more here! The post Accounts Receivable Automation: The Complete Guide appeared first on Future Firm.

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Inside Form 6765 for the R&D Credit

Accounting Today

Major changes are afoot for companies that want to claim the research tax credit.

Tax 100
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Review of ZOHO – The Accounting Technology Lab Podcast – Feb. 2025

CPA Practice

In their latest video and podcast, Randy Johnston and Brian Tankersley, CPA, review ZOHO in their roundup of AI systems for accounting firms.

Account 98
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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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Cloud backup strategies are critical

Accounting Today

The cloud is safe, yes but it doesn't protect your and your clients' data from every possible threat.

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Lili Launches International Payments System

CPA Practice

Lili, a financial platform designed for small business owners, today announced the launch of international wire payments in 27 countries, empowering small business owners to grow beyond borders.

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Accountants see bigger hiring and pay boosts

Accounting Today

Hiring and salaries grew more quickly for accountants than any other job group last year, according to a new report.

Account 80
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Empower your clients and practice with Ignite

Xero

As a Xero partner, youre always looking for ways to help boost your efficiency and better serve your clients. Thats where Ignite comes in our new Xero plan which streamlines the old GST Cashbook and Starter plans. Discover the benefits and pricing of Ignite and see how its already helping partners and their clients across Australia and New Zealand improve insight into their cash flow.

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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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Tax Fraud Blotter: Reached their limit

Accounting Today

Fell a little short; oh brother; only one hitch; and other highlights of recent tax cases.

Tax 64
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QuickBooks ProAdvisor Level 2 Certification V-con

Insightful Accountant

Intuit will offer a free V-con March 25-27 to prepare ProAdvisors for 'Level 2' Certification.

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Advising clients on digital asset diversification

Accounting Today

As the digital asset landscape becomes increasingly unpredictable, it's important to encourage clients to diversify their holdings across sectors and types.

Tax 55
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2025 ProAdvisor Awards - You Could Be Surprised

Insightful Accountant

Some mechanisms implemented to deal with 2025 application problems could result in surprises for many ProAdvisors who were otherwise 'disappointed' in their application process experience.

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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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Plan for tax efficient business motoring

Inform Accounting

Planning for the cost of business motoring is always important. We look here at the change to the tax treatment of double cab pick-ups (DCPUS) announced in the Autumn Budget 2024, and suggest how tax incentives for low emission technology can continue to help employers.

Tax 40
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HR Compliance & Risk Management for Accountants with Michelle LeBlanc

Insightful Accountant

In this insightful episode, host Gary DeHart sits down with HR expert Michelle LeBlanc to explore key HR strategies for accountants and professionals in regulated industries like finance, healthcare, and energy.

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FinCEN Reinstates Beneficial Ownership Reporting Mandate with New March 21, 2025 Deadline

RogerRossmeisl

In a major development for U.S. businesses, the Financial Crimes Enforcement Network (FinCEN) has announced the reinstatement of the beneficial ownership information (BOI) reporting mandate under the Corporate Transparency Act (CTA). The decision comes on the heels of a February 18, 2025, ruling by the U.S. District Court for the Eastern District of Texas, which lifted a preliminary injunction in the case of Smith, et al. v.

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Setting Up Sales Tax Calculation for Your Business

TaxConnex

Getting the right sales tax on your invoice is a pivotal step in managing your sales and use tax obligation. With cities, counties and states having their own tax rates, taxability rules changing among states and even local jurisdictions, it is almost impossible to ensure you add the correct sales tax to your invoice for a more complex organization.

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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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Oh BOI, Withum Updates on Beneficial Ownership Reporting

Withum

Stay up-to-date with the latest BOI reporting requirements and how recent legal changes may affect your business. Subscribe to our Business Tax insights for timely updates delivered directly to your inbox. February 20, 2025 Yes, Its True, Beneficial Ownership Information Reporting Is Back On In a plot twist worthy of daytime television, beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA) has made a dramatic comeback.

Texas 116
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IRS Plans to Cut Thousands of Employees by Mail

CPA Practice

A technical glitch prevented officials from notifying thousands of IRS employees via email that they were being terminated. The agency had to resort to paper.

Tax 85
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How to ensure compliance with the reinstated Corporate Transparency Act

ThomsonReuters

Jump to Overview of the Corporate Transparency Act Corporate Transparency Act timeline of events Current status of the CTA and important facts for LLC owners Steps for small businesses to file a Beneficial Ownership Information Report (BOIR) Implications for tax and accounting professionals Ensuring Corporate Transparency Act compliance and supporting your clients Catch up with the Corporate Transparency Act below More on the Corporate Transparency Act Are you ready?

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2025 IRS Tax Refund Schedule: IRS Layoffs Could Cause Delays in Refunds

CPA Practice

This article includes an easy reference chart that taxpayers can use to estimate how soon they may get their income tax refund.

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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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Proposition M: Changes to San Francisco Gross Receipts Tax

Withum

The deadline for submitting the San Francisco Gross Receipts Tax return is quickly approaching on February 28, 2025. Before calculating the first quarterly payments for 2025, consider the changes enacted by voters in 2024 as part of Proposition M. A broad restructuring of the exemption threshold, apportionment formulas, and rates could considerably change your tax liability and estimates required for 2025.

Tax 90
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Minimum Wage Posters: Are You Displaying the Right Notices?  

Patriot Software

Do you really know what minimum wage posters you have to display around your office? Many employers dont, and that can lead to penalties. If youre even slightly unsure, read on. Failing to post required federal, state, and local posters isnt just a minor oversightit could cost you.

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Unlocking Business Potential: The Benefits of Accounting and Controller Services for Entrepreneurs

AccountingDepartment

In the fast-paced world of entrepreneurship and business management, the importance of maintaining impeccable financial records cannot be overstated. Accounting and controller services are the backbone of a well-oiled business machine, guiding entrepreneurs toward clarity and strategic growth.

Account 71
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EY Opens Up a New 22,000 Sq Ft Offshore Office in India

Going Concern

Quick story on this so we can record some numbers. With Big 4 firms growing their India workforces like crazy these days it’s good to get headcount figures down on paper. Or servers. Whatever. International Accounting Bulletin reports that EY has opened a new 22,000 sq. ft Global Delivery Services (GDS) office in Coimbatore. With a metro population of about 1.6 million people, Coimbatore is the second-largest city in the southern state of Tamil Nadu.

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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!