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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.
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
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.
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.
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.
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.
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.
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
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
Jump to The transformative potential of AI in advisory Breaking through traditional pricing models Empowering teams through technology Challenges and considerations when adopting tech and AI Embracing technology to unlock advisory services Today, many forward-thinking accounting firms are driving business growth through advisory services. This transition, however, requires a shift in both mindset and business model, as well as a stronger role for technology.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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.
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
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.
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?
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.
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.
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.
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.
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.
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
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
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.
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.
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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