Sat.Jan 25, 2025 - Fri.Jan 31, 2025

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How to Get Tax Clients: 13 Practical Tips

Ryan Lazanis

Want to pull in new tax clients for your firm? Do these 13 actionable strategies that I've tried and tested over the years. The post How to Get Tax Clients: 13 Practical Tips appeared first on Future Firm.

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Best Practices in Accounting Data Management for Entrepreneurs

AccountingDepartment

Effective accounting data management isn't just about tidy spreadsheets and balancing your books. It's about safeguarding your business's financial health while ensuring seamless operations.

Account 71
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Automation's place in sales tax compliance

TaxConnex

AI and automation are all the rage, but does it have a place in your sales tax compliance process? If so, where? For many businesses, software and automation can serve an important purpose in the compliance process. Businesses need a way to calculate the correct sales tax to charge in states where they have a sales tax obligation, and for this, automation can be a great solution.

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Financial Modeling: A Comprehensive Step-by-Step Guide

Acterys

Financial modeling is an essential tool in corporate finance and business decision-making. By creating structured representations of a companys financial data, financial modeling enables stakeholders to forecast future cash flows, evaluate investment opportunities, and strategize for revenue growth. In this guide, we’ll explore what financial modeling is, the types of financial models, the benefits they provide, and how to create effective financial models.

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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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Financial guide for NFP organisations under 750k

Accounting for Good

NFP organisations with a turnover under 750K will find high-level accounting services cost-prohibitive.

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Common accounting terms for not for profit organisations

Accounting for Good

Are you a Not For Profit organisation? We know the terms and acronyms in accounting can be overwhelming at times.

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What Should You Do If You Suspect Your Tax Preparer Is Being Investigated by the IRS?

CPA Practice

The following is a detailed look at why your preparer's legal troubles place you at risk, what signs might indicate they are under scrutiny, and which immediate steps you can take to protect yourself from civil and criminal tax exposure.

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Utilizing FP&A for More Effective Financial Planning

AccountingDepartment

For any business owner, prioritizing the companys future is essential. Financial planning plays a crucial role in this, enabling business owners to drive growth and broaden their operations. If a business owner hasnt focused on this aspect, they need to understand what it is, what it does, and how it differs from regular accounting. What Is FP&A?

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Tax season kicks off with non-tax issues center stage

Accounting Today

With relatively fewer tax changes to worry about, BOI and tariffs are top of mind for some experts.

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R&D Tax Credit Misconceptions Could Cost Your Startup Six Figures

BurklandAssociates

Think your startup doesnt qualify for R&D tax credits? Think again. You could unlock $500,000 or more in annual savings. The post R&D Tax Credit Misconceptions Could Cost Your Startup Six Figures appeared first on Burkland.

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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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TIGTA Alerts Taxpayers of New Tax Season Text Message Scam

CPA Practice

Scammers impersonating the IRS are texting taxpayers leading them to believe they're going to receive an economic impact payment, also known as a recovery rebate credit, but it's a scheme to steal their personal data, TIGTA said on Jan. 28.

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Fashion forward: New York’s Fashion Workers Act threads new standards

ThomsonReuters

Blog home The New York Fashion Workers Act , set to take effect on June 19, 2025 , introduces significant changes to the fashion industry, particularly for Model Management Companies (MMCs) and their clients. This legislation aims to enhance protections for models and ensure greater transparency and fairness in their working conditions. Miguel Lopez, a shareholder at Littler Mendelson and an expert in employment law, shared his insights on the Act with Thomson Reuters’ Checkpoint Payroll

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DeepSeek on par with GPT, Claude, Llama for accounting questions

Accounting Today

Since its worldwide release last week, accounting AI experts have been testing Chinese LLM DeepSeek on accounting questions and found it's about or almost on par with other public models.

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Good Riddance – SAB 121 Is No Longer

Withum

In this episode of Cryptonomix, Mark Eckerle reviews the SEC's decision to rescind SAB 121, its main components, and its impact on financial institutions.

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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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Initial Social Security COLA Predictions Are in for 2026

CPA Practice

For those living on a fixed income such asSocial Security, a key part of financial planning may include keeping tabs on next years cost of living adjustment, and right now theyre looking pretty low.

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Are Employee Wages Tax Deductible If You’re a Sole Proprietor?

Patriot Software

Small business tax deductions provide a great way for business owners to offset expenses and lower tax bills. And in business, expensesespecially your employees on payrolladd up quickly. Are employee wages tax deductible? If youre a sole proprietor or single-member LLC who files Schedule C, read on.

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Rupert Murdoch tests how irrevocable a trust can be

Accounting Today

The media mogul is in court to allow him to change the terms of a trust but it's not that easy.

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Federal Funding Freeze: Crisis Averted… for Now

Withum

The federal funding freeze frenzy that just took place over the last 48 hours was eye-opening for many of us. The not-for-profit industry as a whole and many government-funded organizations went on a two-day roller coaster that started with “you will not be funded– all payments are frozen” to “OMB order rescinded.” This short-term chaos has pointed out the fragility of the industry, where the dependence on government funding, and the chaos that ensues when cash flow

Legal 52
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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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Fewer Employees Plan to Bolt From Their Job in Early 2025, Survey Finds

CPA Practice

A new survey from Robert Half has revealed that job satisfaction is on the rise, with only 29% of professionals planning to look for a new job in the first six months of 2025, down from 35% inJuly 2024.

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Why Businesses Should Review Fidelity Coverage

Dent Moses

Employee embezzlement, the act of an employee misappropriating company funds or assets for personal gain, is a pervasive risk that businesses cannot afford to ignore. While organizations often implement internal controls and monitoring mechanisms to mitigate this risk, no system is foolproof. Fidelity coverage, a specialized type of insurance that protects businesses against losses caused by employee dishonesty, is often ignored or has inadequate coverage.

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Archeologists uncover tax fraud in ancient Rome

Accounting Today

Court documents from an ancient tax fraud and forgery case show that tax evasion was an issue even 2,000 years ago.

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New Accounting Client Checklist

Canopy Accounting

Onboarding your new accounting client is more than just a processits your chance to make a strong first impression and lay the groundwork for a lasting partnership. By using this new accounting client checklist, you can set your client at ease, build trust from day one, and show them theyve made the right choice in partnering with you.

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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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Social Security Raises Payments, But Fairness Act Implementation Lags

CPA Practice

If those with public pensions like teachers, police officers and firefighters are counting on a Social Security payment following the enactment of the Social Security Fairness Act, that's going to be a whilereportedly a year.

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2025 Tax Filing Season Starts As IRS Begins Accepting Tax Returns Today

Insightful Accountant

The Internal Revenue Service opened the 2025 tax filing season today and is accepting and processing federal individual tax year 2024 returns.

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Gig workers unaware of lower 1099-K threshold

Accounting Today

Millions more taxpayers will be receiving the Form 1099-K in the mail this year for the first time if they were paid $5,000 or more last year.

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Crunching the Numbers on How Many Core CPA Exam Sections Were Taken in 2024

Going Concern

Yesterday NASBA released scores for Core CPA exam sections taken from October 1 – December 26, 2024, the last group of scores for sections taken last year. Let’s check out the numbers: On January 29, NASBA received and processed the following scores from the AICPA: pic.twitter.com/6kbvbwtP62 — NASBA (@NASBA) January 29, 2025 CPA exam scores processed for October 1 – December 26, 2024: AUD: 8,766 FAR: 11,461 REG: 7,694 Total Core exam sections taken: 27,921 There were four

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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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AICPA Asks IRS to Lessen Burden on Tax-Exempt Organizations in Foreign Filing Process

CPA Practice

In alettersubmitted to the IRS on Jan. 27, the AICPA requested that the tax agency and the Treasury Department provide exemptions to, or streamlined reporting for, certain foreign filings required by exempt organizations.

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SEC Issues SAB 122, Officially Rescinding SAB 121

Withum

On January 23, 2025, the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 122 officially rescinding SAB 121. SAB 121 was issued by the SEC on March 31, 2022. The purpose, per the SEC, was to provide guidance on the accounting for obligations to safeguard crypto-assets that an entity holds for its platform users. Some of the key points from SAB 121: Safeguarding Obligations and Measurement : Entities that hold crypto-assets for their users would have been requi

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Senators propose fixes to IRS administration

Accounting Today

Senate Finance Committee chairman Mike Crapo. R-Idaho, and ranking member Ron Wyden, D-Oregon, issued a discussion draft of bipartisan legislation.

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Fraud by Top Executives

FraudFiles

Its easy to assume that upper-level executives in companies with fraud scandals were always bad people. By assuming that they were inherently bad people, we dont have to confront the issues related to trusting people who seemed trustworthy. We dont have to explore the idea that people can turn bad or choose a bad path [.

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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.