CTP

JANUARY 24, 2025

Medical expenses can become a financial burden the further along you get in years. AARP estimates that if you are in your fifties today, you can expect to spend around $500,000 in qualified medical expenses out-of-pocket once you retire. Taxpayers have three choices when planning for the future: Set aside cash for a rainy day. As you earn each paycheck, you set money aside for future medical expenses.

Tax 52

Tax income tax tax planning accountant 52

CPA Practice

JANUARY 24, 2025

For now, business information ownership reporting requirements under the Corporate Transparency Act remain voluntary despite the U.S. Supreme Court on Thursday overturning an order from a Texas federal appeals court in December that had halted mandated BOI report filing with FinCEN.

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Texas 119

Accounting Today

JANUARY 24, 2025

Plus, FloQuast achieves ISO 42001 certification on AI systems; and other accounting tech news and updates.

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Technology accountant accounted Account 114

CPA Practice

JANUARY 24, 2025

Continuing claims, a proxy for people who are already receiving benefits and still cant find a job, jumped to 1.9 million in the week endedJan. 11, the highest since November 2021.

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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 automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

Finance

Accounting Today

JANUARY 24, 2025

KPMG appoints new global head of audit; Weaver launches health care advisory practice; and more news from across the profession.

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CPA audit 105

CPA Practice

JANUARY 24, 2025

State Auditor George Kennedy III, who has been caught in the middle of the states accounting issues, including over whether a mysterious $1.8 billion existed, resigned from his job Thursday.

South Carolina 40

South Carolina auditor Account accountant 40

Going Concern

JANUARY 24, 2025

Reminder to take our 2025 Predictions for the Accounting Profession survey , its quick we promise. 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.

audit 52

audit Minnesota Montana accounting and finance 52

Accounting Today

JANUARY 24, 2025

Tax prep giant H&R Block celebrated its 70th anniversary at an event Thursday in New York as it gets ready for the start of tax season on Monday.

Tax 64

Tax New York 64

Withum

JANUARY 24, 2025

In a dramatic and dizzying turn of events, the Supreme Court on January 23, 2025 reinstated the governments power to enforce the Corporate Transparency Act (CTA), overturning a previous block by the Fifth Circuit Court of Appeals. You might think this would allow the federal government to enforce the law while courts consider the matter further, but that is not the case.

Texas 81

Texas Legal Government tax services 81

Accounting Today

JANUARY 24, 2025

Four years after handling the first conversion of a hedge fund to an ETF, Wes Gray is gearing up to lead a surge of tax-busting deals aimed at investors.

Tax 52

Tax tax planning 52

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Technology

Randal DeHart

JANUARY 24, 2025

Did you know that 39% of projects fail due to budget issues? For small businesses and entrepreneurs, the stakes couldnt be higher. Managing a project budget is not just about numbers; its about ensuring your business is profitable. By understanding the essential steps of project budgeting, you can turn potential pitfalls into opportunities for success.

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Construction bookkeeping 80

Accounting Today

JANUARY 24, 2025

German prosecutors are preparing to bring the first criminal charges against staff who worked at Macquarie Group Ltd. over the Cum-Ex tax scandal.

Tax 40

Tax 40

Basis 365

JANUARY 24, 2025

For small businesses, managing costs effectively can mean the difference between thriving and struggling. Whether your business is facing profitability issues or difficulties in collecting accounts receivable , adopting a strategic approach to cost management is essential for long-term success. Below are actionable steps and proven strategies to help your business regain control of its financial health.

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Non-Profits Spend Management Software Spend Management Spend Management Platform 59

Accounting Today

JANUARY 24, 2025

Trump described the European Union's cases against the American tech companies as "a form of taxation," in comments at the World Economic Forum in Davos.

Tax 98

Tax 98

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.

payroll

Going Concern

JANUARY 24, 2025

Another one bites the dust. In October, PE Hub reported that CohnReznick (IPA Top 100 #16 with $1,052,365,413 in revenue) was in talks to sniff out possible private equity opportunities in the next few months. They didn’t have a ton of information beyond that at that time. We’d all but forgotten about it until Wall Street Journal said in an exclusive today that CohnReznick is “in advanced talks” with Apax Partners to sell off a stake in the firm. “It would be the la

accounting firms 59

accounting firms Account accountant accounted 59

Withum

JANUARY 24, 2025

The Corporate Sustainability Reporting Directive (CSRD), at its core, is a sustainability reporting framework created by Europe to track and measure companies’ environmental and social impact. While it’s a regulatory requirement, it’s essentially another form of sustainability reporting within a structured framework. The Power of Transparency The CSRD’s primary enforcement mechanism isn’t through fines or penalties it relies on transparency and public accountabilit

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cpas public accounting CPA Government 52

Ronika Khanna CPA,CA

JANUARY 24, 2025

If you are thinking about upgrading from your current accounting system or spreadsheet or starting your new business venture with accounting software, QuickBooks Online is a good way to go. It is perhaps the most well known accounting software and, having used both the desktop and online versions for many years, it can be a great tool for anyone who wants to track their self employed/small business finances.

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quickbooks accounting software accounts payable accounting and finance 52

CTP

JANUARY 24, 2025

Many taxpayers plan for retirement expenses is simply to set aside money in their savings accountif they are doing anything at all. This leaves many retirees unprepared for major costs, such as medical expenses. AARP estimates that taxpayers who are currently in their fifties will spend an average of $500,000 out-of-pocket on qualified medical expenses during retirement.

Tax 52

Tax Maine Account accountant 52

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.

Finance

Accounting Today

JANUARY 24, 2025

Following the Republican victory in the 2024 election, tax reform and political changes are at the forefront of every accountant's agenda.

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tax planning Tax Account accountant 105

Going Concern

JANUARY 24, 2025

In July 2023, a nonprofit group called America First Legal — founded by Trump senior advisor Stephen Miller in 2021 — sent a cease and desist to PwC “demanding they stop using racial preferences in hiring and internship programs ” after a long-awaited Supreme Court decision effectively ended affirmative action. This is what they said in a press release at the time: Today, America First Legals (AFL) Center for Legal Equality sent a cease and desist letter to the accounting

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North Carolina cpas Government Legal 64