Tue.Dec 10, 2024

article thumbnail

Top Year-End Tax Tips for 2025 to Maximize Your Savings

Anders CPA

As the end of the year approaches, its time to make sure youre taking advantage of every opportunity to reduce your tax bill for the upcoming tax year. From strategic gifting and charitable donations to payroll deductions and Roth conversions, heres your comprehensive guide to getting a head start on 2025 tax season. Annual Gift Tax Exclusion The annual gift tax exclusion for 2025 will increase to $18,000 for individuals and $36,000 for married couples.

Tax 52
article thumbnail

TaxConnex Announces Two New Product Lines Along with a Redesigned Website and New Messaging

TaxConnex

TaxConnex is paving the way for a new category of sales tax management services UPSOURCING. Building on our strong foundation of sales tax advisory services and managed sales and use tax filing and remittance services, we are introducing two powerful new solutions into our portfolio: Sales Tax Calculation Software: Designed to simplify the process of calculating the proper sales tax, this software integrates seamlessly with a variety of business systems and shopping carts to provide precise, re

Sales 256
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Why Building a Compensation Model is Critical for Startups

BurklandAssociates

By setting up clear, fair compensation ranges from the start, youll put your startup on a path to success where your business and your employees can thrive. The post Why Building a Compensation Model is Critical for Startups appeared first on Burkland.

130
130
article thumbnail

IRS offers tax pros draft info security plan

Accounting Today

A primer on WISPs from the Internal Revenue Service can get practitioners started on setting up this required plans.

Tax 102
article thumbnail

The Growth Architect: How Financial Leaders are Unlocking Potential

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.

article thumbnail

How employers can claim from HMRC for UK statutory maternity pay?

Wellers Accounting

UK statutory maternity pay explained for employers. How much leave employees are entitled to, how much to pay them, and claiming the money back from HMRC.

payroll 97
article thumbnail

Malaysia’s National E-invoicing Initiative: What SMEs need to know

Xero

With the Malaysian government’s push towards a digital economy, small and medium enterprises (SMEs) must adapt to new requirements. One key development is the National E-invoicing Initiative. This initiative aims to modernize how businesses manage invoices, helping to streamline operations, improve compliance, and enhance efficiency across industries.

More Trending

article thumbnail

In the blogs: Respect the unexpected

Accounting Today

BOI on hold; the TCJA and future budgets; using private equity; and other highlights from our favorite tax bloggers.

Tax 59
article thumbnail

4 things tax and audit professionals to know about agentic AI

ThomsonReuters

Blog home As artificial intelligence continues to rapidly evolve , a new concept is emerging that tax and accounting professionals need to be aware of: agentic AI. This type of AI advances from basic automation or content generation to developing systems capable of autonomously performing complex tasks and making decisions. For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself.

audit 52
article thumbnail

Streamlining Time & Billing and Getting Paid Faster

Canopy Accounting

What's new: Practitioners can now send an invoice to many clients at the same time. As previously announced, they can also invoice one client representing a group of related clients.

52
article thumbnail

4 things tax and audit professionals need to know about agentic AI

ThomsonReuters

Blog home As artificial intelligence continues to rapidly evolve , a new concept is emerging that tax and accounting professionals need to be aware of: agentic AI. This type of AI advances from basic automation or content generation to developing systems capable of autonomously performing complex tasks and making decisions. For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself.

audit 52
article thumbnail

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!

article thumbnail

Amazon integrates QuickBooks for sellers

Accounting Today

Sellers will have the ability to bring their existing Amazon data into Intuit's accounting software.

article thumbnail

Corporate Transparency Act halted: What the recent court injunction means for tax and accounting professionals

ThomsonReuters

Jump to Overview of the recent halting Implications for tax and accounting professionals What’s next? Staying prepared amidst regulatory uncertainty Catch up with the Corporate Transparency Act below More on the Corporate Transparency Act Are you ready? The Corporate Transparency Act became effective Jan 1, 2024 Navigating the Corporate Transparency Act: Key implications and considerations Corporate Transparency Act FAQs The Corporate Transparency Act (CTA) has been a pivotal piece of le

Tax 52
article thumbnail

M&A roundup: Cherry Bekaert, Aprio, Platform, PP&Co expand

Accounting Today

Cherry Bekaert acquires Katz Nannis + Solomon; Aprio adds Pontiff + Associates and Elite Tax & Accounting; Platform Accounting Group merges in DHS Advisors; and Delucchi Hawn joins PP&Co.

Tax 52
article thumbnail

The CFO Spotlight: Stories of Growth and Strategy

Withum

Related Insights Guide to 1099 Preparation: What You Need to Know for 2024 Read More Understanding Cash vs. Accrual Accounting Read More Financial Forecasting: How 3-Way Forecasts Help Predict Future Business Performance Read More Sign up to get the latest OASyS updates by email. Subscribe The post The CFO Spotlight: Stories of Growth and Strategy appeared first on Withum.

article thumbnail

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.

article thumbnail

BOI filing uncertainty continues

Accounting Today

An injunction from a federal court has paused CTA enforcement, but not eliminated the possibility of it in the future.

Account 52
article thumbnail

Professionals on the Move – December 2024

CPA Practice

Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. Eide Bailly Welcomes Chad Martin as Principal in the National Tax Office, Leading Transfer Pricing Practice Eide Bailly, a nationally recognized certified public accounting and business advisory firm recently welcomed Chad Martin as Principal in the National Tax Office.

article thumbnail

Mergers and Acquisitions in a Volatile U.S. Market

Withum

Market volatility presents significant challenges for U.S. M&A activity. Volatile markets make it difficult for companies to accurately forecast future earnings and assess risk. Buyers may hesitate, uncertain if the price will hold long-term value, while sellers may delay, hoping for a market upswing. This hesitation on behalf of buyers and delay on behalf of sellers can stall out deals, impacting overall deal flow and dampening investor confidence.

article thumbnail

AICPA and CPA.com Benchmark Survey: Client Advisory Services (CAS) Practices Report 17% Growth

CPA Practice

Client advisory services (CAS) is poised to continue its impressive trajectory as the fastest growing service area in public accounting, according to the newly released 2024 CPA.com & AICPA PCPS Client Advisory Services Benchmark Survey report. The survey polled more than 200 U.S. firms with CAS offerings and collected data from the 2023 calendar year.

article thumbnail

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

article thumbnail

Prepare Your Agency for Sale: M&A Tips from Jonathan Baker

Summit CPA

Mergers and acquisitions: a situation where you can't be overprepared. With more preparation, youll have a more lucrative, smoother M&A process from beginning to end.

Sales 52
article thumbnail

IRS: $53 Million in TCE and VITA Grants Awarded for 2025

CPA Practice

The IRS on Dec. 2 awarded $53 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants for 2025 to organizations that provide free federal tax return preparation. For the period from Oct. 1, 2024 to Sept. 30, 2025, the IRS awarded grants to 41 TCE and 315 VITA applicants. The IRS received 445 applications requesting more than $82.9 million in funding.

article thumbnail

KKR's $1.4B Perpetual deal endangered by shock tax bill

Accounting Today

The acquisition of Australian fund manager Perpetual Ltd.'s wealth management business is in danger of collapsing after the deal was hit by an unexpected tax bill.

Tax 52
article thumbnail

LeaseCrunch to Host Webinar with Guidance on Navigating Year-End Lease Challenges

CPA Practice

LeaseCrunch LLC , a lease accounting software company, will host a webinar entitled 2025 Game Plan: Advanced Year-End Lease Accounting on December 17 at 1:00 p.m. CST. Designed for finance professionals and accountants, this session will provide critical tools and best practices to streamline year-end lease accounting. With year-end accounting processes being more complex due to ASC 842, IFRS 16 and GASB 87 standards, LeaseCrunchs experts will guide attendees through the most challenging aspects

article thumbnail

Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

article thumbnail

Cloud tax threatens Chicago's tech dreams

Accounting Today

A move to increase an unusual tax on cloud computing risks adding to a broader technology industry downturn to derail progress in the third-largest U.S. city.

article thumbnail

Bill Launches 1099 Filing Solution

CPA Practice

BILL, a financial operations platform for small and midsize businesses, has launched a new 1099 Filing offering that allows businesses to file their 1099 taxes within the BILL Financial Operations Platform. With these new capabilities as part of BILLs flagship accounts payable solution, SMBs and the accounting professionals who serve them can now quickly and easily prepare and file their 1099 forms in the same place they pay and manage their vendors year-around.

article thumbnail

CBIC Enabled Manual Filing of IGCR Return up to January 2025

VJM Global

Considering the representations received from the industry about the difficulty in filing IGCR-3 monthly statements online on the ICEGATE portal, the CBIC has permitted manual filing of IGCR-3 by 31st January 2025 through circular No. 25/2024-Customs dated 21st November 2024. 1. Background The Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 allows the importer to import goods at concessional rate of duty subject to the condition that such goods are use

Tax 52
article thumbnail

Tax Court Refutes PTSD Tax Claim

CPA Practice

By Ken Berry. If an individual receives an award or legal settlement attributable to a personal injury or illness, they normally dont owe any federal income tax on the payment. However, the onus is on the individual to prove a direct cause. As shown in a new case involving a claim of post-traumatic stress disorder (PTSD), Estate of Finnegan, TC Memo 2024-42, 4/10/24 , the supporting documentation can be critical.

Tax 52
article thumbnail

Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

article thumbnail

3 minutes with Grace Hardy

Accounting Insight

Grace Hardy started her accounting practice ‘Hardy Accounting’ at 21 years old after gaining her qualification during her apprenticeship. She now advocates for financial education and speaks about her journey on social media inspire other young people to start their own businesses. How did you get into the profession? It was by mistake! I was originally looking at economic apprenticeships but unfortunately, I didn’t get them so very naively at 17 I thought what is the closest t

article thumbnail

12 Ways to Enhance Client Management Effectively & Efficiently

Canopy Accounting

The key to success in any business is building lasting relationships with clients. However, managing relationships is complicated due to numerous human factors. People are still people even in business.

52
article thumbnail

Navigating financial distress: Key lessons for business owners and accountants

Accounting Insight

Economic uncertainty, rising costs, and shifting regulations are pushing many UK businesses to consider restructuring as a strategy for survival and growth. Restructuring can help manage debt, adapt to changing market conditions, and position businesses for future opportunities. However, the increasing pace of company insolvencies highlights the urgent need for proactive financial management and early intervention.

article thumbnail

Ditching the stress of year-end payroll 2024/25

Xero

Payroll year-end can be a busy time for businesses as they navigate deadlines, submission dates, and HMRC rules. Without enough planning, year-end has the potential to be highly stressful. Learn the essentials of payroll end-of-year submission, including common challenges and ways to tackle them. What is HMRC payroll year end? Payroll year-end sees a business wrap up the tax year for payroll purposes.

payroll 52
article thumbnail

Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.