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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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.

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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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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.

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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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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.

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More Trending

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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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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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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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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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Tax Fraud Blotter: Reached their limit

Accounting Today

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

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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.

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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.

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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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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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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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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.

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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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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.

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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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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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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.

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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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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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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.

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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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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.

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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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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.

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AP Automation: The Competitive Advantage Your Business Needs

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?

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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.

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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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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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Padgett’s Six Lesser-Known Small Business Tax Strategies

SkagitCountyTaxServices

Admittedly, theres a lot going on in the country right now. My encouragement: dont let yourself get caught up in doomscrolling, echo chambers, or just watching the news round the clock. Its good to be informed, but hypervigilance wont help fix any problems. Yes, knowledge is power. But we can only handle so much on top of our daily life demands. As your go-to tax pro whos on the roller coaster ride with you, let me assure you that I will do anything I can to help prepare your Skagit County busin

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.