Canopy Accounting
DECEMBER 18, 2024
In this episode of the Canopy Practice Success Podcast , host KC Brothers talks with Jen Hamilton, a former CPA turned Fractional COO. She shares her journey from traditional accounting to operational consulting, emphasizing the power of modern tools to boost productivity and elevate client service.
Accounting Today
DECEMBER 17, 2024
Independent CPA and accounting firms are showing new interest in employee ownership strategies.
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CPA Practice
DECEMBER 16, 2024
Savvy savers should plan ahead to help save more and avoid penalties and tricky tax situations. Here are five changes coming to IRAs and 401(k)s in 2025.
AccountingDepartment
DECEMBER 16, 2024
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.
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.
BurklandAssociates
DECEMBER 17, 2024
U.S. Tax Deadlines San Francisco Tax Deadlines New York Tax Deadlines Seattle Tax Deadlines 2025 U.S. Tax Deadlines for Startups JAN 31: R&D Tax Credit Form 941 to claim R&D Read More The post 2025 Tax Deadlines for Startups appeared first on Burkland.
ThomsonReuters
DECEMBER 16, 2024
Jump to 1. Use data encryption when working with clients 2. Implement access controls to use GenAI 3. Implement a quarterly security audit 4. What to consider when selecting the right technology 5. Provide security training as part of your firms annual curriculum 6. Minimize unnecessary data 7. Incorporate privacy considerations into the GenAI system 8.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
DECEMBER 17, 2024
The excitement of years end can push all kinds of taxes to the back of your mind. But its a good idea to look out for how a new year can mean new sales tax obligations for you and your online business. Here are some common situations that can be exciting for your business and distracting for you and that can create sales tax risk. What should you watch for in 2025?
RogerRossmeisl
DECEMBER 17, 2024
The landscape of compliance with the Beneficial Ownership Information (BOI) Reporting requirement under the Corporate Transparency Act (CTA) has changed dramatically following a recent federal court decision. Heres what businesses need to know about the current status and next steps. Background on the Corporate Transparency Act The CTA mandates that certain businesses report detailed information about their beneficial owners, officers, and control persons to the Financial Crimes Enforcement Netw
Insightful Accountant
DECEMBER 16, 2024
The recent nationwide preliminary injunction against the Corporate Transparency Act (CTA) enforcement creates significant uncertainty for tax practitioners handling beneficial ownership information (BOI) reporting.
Acterys
DECEMBER 20, 2024
If the term “AI” catches your eye, it’s highly likely that ChatGPT comes to mind. And you would be absolutely correct in making that association. The launch of ChatGPT has taken the world by storm. Its success has kickstarted an AI race that has compelled almost every company to embed artificial intelligence and machine learning algorithms into their software architecture to mirror the same level of agility and productivity.
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.
Accounting Today
DECEMBER 19, 2024
The optional standard mileage rate for automobiles driven for business will increase 3 cents next year.
RogerRossmeisl
DECEMBER 15, 2024
How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for retirement plans, as well as other qualified plans, for 2025. With inflation easing, the amounts arent increasing as much as in recent years. 401(k) plans The 2025 contribution limit for employees who participate in 401(k) plans will increase to $23,500 (up from $23,000 in 2024).
Withum
DECEMBER 18, 2024
The end of the year is a busy time for many of us. Preparing for the upcoming holidays, spending time with family and friends, and planning for the New Year take a lot of time and commitment. Countless to-do lists and responsibilities at home and work make the most wonderful time of the year more stressful than it needs to be. Finance teams planning for their year-end financial statement audit have an even longer list of things to think about at the end of the year, including income statements,
Acterys
DECEMBER 19, 2024
Without a clear understanding of what your workforce is capable of today, planning for tomorrow becomes a guessing game. This is where workforce analysis becomes a game-changer transforming vague assumptions into informed decisions. Yet Gartner research reveals that only 8% of organizations have reliable data on the skills their workforce currently possesses and those that drive business success.
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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.
Accounting Today
DECEMBER 20, 2024
These strategies are more than just smart tax moves; they're powerful tools for reshaping financial outcomes.
RogerRossmeisl
DECEMBER 15, 2024
When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses arent the only taxpayers that can deduct driving expenses on their returns. Individuals may also be able to deduct them in certain circumstances. Unfortunately, under current law, you may be unable to deduct as much as you could years ago.
CPA Practice
DECEMBER 19, 2024
The event is free for professionals, thanks to the sponsorship of several leading accounting and tax technology providers. All sessions are NASBA certified for CPE credit, and some sessions are IRS certified for CE credit.
Withum
DECEMBER 18, 2024
On Thursday, December 12, 2024, the Internal Revenue Service (IRS) released a fact sheet addressing Form 8275 and the disclosure of tax positions related to IRC section 280E. Form 8275 is used by taxpayers to disclose positions taken on tax returns for which substantial authority does not exist. Substantial authority is defined as a tax return position that has more than a 40% chance of success based upon its merits.
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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.
Accounting Today
DECEMBER 19, 2024
The IRS and its partners shared a half-dozen ways to safeguard your firm and your clients during National Tax Security Awareness Week.
RogerRossmeisl
DECEMBER 15, 2024
Recently, a 401(k) plan participant was defrauded of approximately $740,000 when he fell victim to an elaborate scheme perpetrated by overseas criminals. However, even friends, family members and employers have been discovered stealing from 401(k) accounts, adding up to millions of dollars in losses every year. Heres what your organization can do to help keep your employees retirement savings safe from theft.
Insightful Accountant
DECEMBER 18, 2024
The Internal Revenue Service today reminded those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans.
Canopy Accounting
DECEMBER 20, 2024
Identify and comprehend the latest updates and changes in tax laws for the upcoming 2025 tax year.
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.
Accounting Today
DECEMBER 20, 2024
The shadow knows; body of evidence; make a Note of it; and other highlights of recent tax cases.
RogerRossmeisl
DECEMBER 15, 2024
Employee stock options remain a potentially valuable asset for employees who receive them. For example, many Silicon Valley millionaires got rich (or semi-rich) from exercising stock options when they worked for start-up companies or fast-growing enterprises. Well explain what you need to know about the federal income and employment tax rules for employer-issued nonqualified stock options (NQSOs).
CPA Practice
DECEMBER 18, 2024
A grand jury in San Diego has returned an indictment unsealed charging a California attorney with tax evasion, filing a false tax return and failing to file tax returns with the IRS.
Patriot Software
DECEMBER 18, 2024
If you have nonexempt employees, you have to pay them overtime wages whenever they work overtime hours. In each pay period, you need to track employee time worked. Then, at the end of the pay period, you will calculate employee compensation. You will also have to withhold employment taxes.
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?
Accounting Today
DECEMBER 19, 2024
The IRS declined to commit to expanding its Direct File free tax preparation program nationwide in response to a report from the GAO amid GOP opposition.
RogerRossmeisl
DECEMBER 15, 2024
If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also an option for self-employed individuals or business owners who wish to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan. A solo 401(k), also known as an individual 401(k), may offer advantages in terms of contributions, tax savings and investment options.
CPA Practice
DECEMBER 18, 2024
The average U.S. household spends more than $70,000 on housing, meals, transportation, health care and more. How does your household compare?
GrowthForceBlog
DECEMBER 19, 2024
7 min read December 18th, 2024 The process of closing out financial records is complex, and there are lots of places where nonprofit financial mistakes can occur. However, your final financial reports and records must be accurate and compliant. Key Takeaways 5 Common Year-End Financial Reporting Mistakes Nonprofits Should Avoid: In addition to recognizing pledged contributions at the correct time, nonprofits must also separate the revenue they receive into distinct categories.
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.
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