March, 2025

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Saving for College: Tax Breaks and Strategies Your Family Should Know

RogerRossmeisl

As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several tools and strategies offered in the U.S. tax code may help ease the financial burden. Below is an overview of some of the most beneficial tax breaks and planning options for funding your childs or grandchilds education. Qualified tuition programs or 529 plans A 529 plan allows you to buy tuition credits or contribute to an account set up to meet your childs future higher e

Tax 245
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Top Reasons Businesses Are Changing Their Sales Tax Processes in 2025

TaxConnex

The sales tax landscape is constantly evolving, and businesses must adapt to keep pace. But tax laws aren't the only things changingbusinesses themselves are growing, diversifying, and seeking new ways to streamline their operations. According to our latest survey of over 100 finance professionals, 85% of businesses are at least somewhat likely to adjust how they manage sales tax in 2025, with 47% being very likely to make changes.

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Accounting Firm Abruptly Nopes Out of Tax Season Early, the Local Sheriff Is Investigating

Going Concern

Some potentially juicy news coming out of North Carolina today : The Alexander County Sheriffs Office has received numerous calls related to the accounting firm of Price, Breazeale & Chastang, PA. The Sheriffs Office has been in contact with the North Carolina Board of CPA Examiners pertaining to the business. This business is located off of Shiloh Church Road in the Bethlehem community of Alexander County.

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Why Real-Time Financial Reporting is Essential for Your Business

AccountingDepartment

Financial reporting has long been a fundamental component of successful business management. It serves as the blueprint for decision-making, reveals opportunities, and identifies risks. Yet, in a rapidly changing economic environment, depending only on monthly or quarterly financial statements is gradually becoming outdated.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

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.

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How agentic AI is redefining the tax and accounting profession

ThomsonReuters

In a profession known for its measured approach to change, agentic AI is emerging as a transformative force for accountants, redefining the nature of daily work and opening the door to more meaningful (and profitable) relationships with clients. But what is agentic AI, and how is it transforming the accounting profession? Agentic AI leverages generative AI and large language models to autonomously plan, reason, and execute multi-step processes.

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Withum Donates $50,000 to the California Fire Foundation

Withum

When the devastating wildfires raged through Southern California at the start of 2025, Withum rallied to support the Los Angeles community. Chris Passmore , partner-in-charge of Withums Los Angeles office , presented a $50,000 check to Angie Carmignani, the Executive Director of California Fire Foundation (CFF) on February 10, 2025. Giving back is engrained in Withums culture, as seen in The Withum Way ten tenets that define the firms unique philosophy and culture. “Firefighters put their

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Square sales tax simplified: What you need to know

TaxConnex

The explosion of eCommerce has created a plethora of tools, resources and middlemen to help your company sell online. Some are household-name marketplace facilitators like Amazon. Others are potentially useful valuable back-office providers, like Square. Square is a point-of-sale (POS) system for merchants, either brick-and-mortar or online, to accept card payments and streamline other business operations.

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KPMG to Merge With KPMG, KPMG, KPMG, KPMG, KPMG, KPMG…

Going Concern

KPMG thinks it’ll save money, open up new opportunities, and be better equipped to make widespread technology investments by consolidating local firms in its international network. In May of 2024, KPMG announced that KPMGs UK and Switzerland would merge to form a $4.4 billion MechaKPMG. Said KPMG UK chief executive Jon Holt at the time, “This marks a historic moment for both firms.

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Why Scaling Businesses Need Controller Services (Before It’s Too Late)

AccountingDepartment

Scaling a business is an exciting yet challenging endeavor. As companies grow, financial complexity increases and the need for accurate financial oversight becomes critical. Many businesses find themselves in a position where their bookkeeping is well-managed, but they lack the high-level financial insights necessary to make informed decisions. This is where controller services play a vital role in helping companies scale efficiently.

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Anders Recognized on St. Louis Business Journal List of Largest St. Louis Accounting Firms

Anders CPA

The St. Louis Business Journal has named Anders one of the 99 largest accounting firms in St. Louis, marking the third year the firm has been included. Anders came in fourth on the list, based on the number of local CPAs employed by each firm: After several years of sustained growth through mergers and recruitment efforts, Anders employs 113 local CPAs and 141 CPAs firmwide.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

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

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Transposition Error, the Little Mistake That Causes Big Problems

Patriot Software

Mistakes happen, especially when it comes to recording transactions in your books. One type of accounting mistake thats easy to make is a transposition error. Read on to learn what is a transposition error and how it can affect your accounting books. What is a transposition error?

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Do You Have an Excess Business Loss?

RogerRossmeisl

If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Heres what you need to know as you assess your 2024 tax situation. Disallowance rule The tax rules can get complicated if your business or rental activity throws off a tax loss and many do during the early years. First, the passive activity loss (PAL) rules may apply if you arent very involved in the business or if its a rental activity.

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Groceries vs. restaurant food: Digging into the sales tax differences

TaxConnex

Youd think that if you eat it, its sales tax treatment would be the same at least similar across different states and given methods of preparation of the food. Wrong. Sales tax applies to food in nothing short of a cornucopia of varying ways depending on where you buy it and whether its groceries or prepared (and, in some case, where you eat the prepared food or it youve added certain foods to it).

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Friendly Reminder Not to Work Yourself to Death For This Profession

Going Concern

Saw this on the bird app yesterday and thought its message would be worth passing along what with 20 days remaining until April 15 and nerves as strained as ever around here. We need to do a better job at pushing healthy boundaries in our profession. Third time this week someone has called the office looking for an accountant because their current one has either passed away or is in critical condition in the hospital. — Albert J.

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Book of Secrets on the Month-End Close

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.

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How to Choose the Right Payroll Software For Your Skagit County Small Business

SkagitCountyTaxServices

The nations collective basketball-related madness has begun. (Thanks to tax season, my team and I have been feeling the madness for a while now. So welcome to the party). How is your bracket faring? Because I love statistics, heres one for you: So far in March Madness history, only one person has ever had an absolutely flawless bracket through the Sweet 16.

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5 Reasons Growing Startups Need an ERP System

BurklandAssociates

Scaling a startup is exciting, but the wrong tools will slow you down. An ERP system automates tasks, centralizes data, and boosts efficiency for smarter growth. The post 5 Reasons Growing Startups Need an ERP System appeared first on Burkland.

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Small, Medium, or Large? Clearing Up Business Sizes and Accounting Expectations

Basis 365

We often hear business owners say they are a "midsize" company or outsourced bookkeepers state they serve both small and midsize businesses. In reality, these terms are often misused and can add some confusion who a business really serves. When most people think of a midsize business, theyre usually describing a larger small businessone that has grown but still lacks the complexity and scale of a true mid-market company.

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You May Be Able to Make a Deductible IRA Contribution for Last Year This Year

RogerRossmeisl

If youre getting ready to file your 2024 tax return and your tax bill is higher than youd like, there may still be a chance to lower it. If youre eligible, you can make a deductible contribution to a traditional IRA until this years April 15 filing deadline and benefit from the tax savings on your 2024 return. Whos eligible? You can make a deductible contribution to a traditional IRA if: You (and your spouse) arent an active participant in an employer-sponsored retirement plan, or You (or your s

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

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?

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Withum Earns Accolades for Recruitment and Internship Excellence

Withum

Withum is proud to announce that it has received a RippleMatch Campus Forward Award in Recruitment Strategies and Internship Programming. This recognition highlights the Firm’s commitment to attracting and developing new talent through early career recruitment with the internship program and Tour de Withum experience. The RippleMatch Campus Forward Awards reflects excellence in commitment to unwavering investment in innovative and multifaceted recruitment strategies.

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AI as a catalyst for talent retention strategies in tax and accounting firms

ThomsonReuters

Lets be honest. People dont get into accounting to be data entry specialists. They want meaningful work that makes a difference in their clients’ lives. However, because of long-held perceptions of mundane work and long hours, accounting firms face challenges in attracting and retaining high-quality staff, especially as younger generations seek more flexible, technology-driven work environments.

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What’s new in Xero – March 2025 & Quarterly Wrap

Xero

Its been a massive start to 2025! In February , we shared enhancements weve made to invoicing. We also heard your feedback, and so now you can automatically prepare partnership annual accounts and tax returns using Xero data and seamlessly file them with HMRC (read more in the previous edition of Whats New). Check out more in our quarterly wrap video below.

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Own Your Cap Table, Own Your Startup’s Future

BurklandAssociates

Raising funds? Hiring top talent? Your cap table matters more than you think. The post Own Your Cap Table, Own Your Startups Future appeared first on Burkland.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

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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The Month-End Close Process: A Behind-the-Scenes Look for Business Owners

Basis 365

The month-end close process is a critical accounting procedure that ensures the accuracy of financial statements, providing a snapshot of your business's financial health. While many business owners rely on these reports to make informed decisions, few understand the extensive effort required to produce them. This blog walks you through the steps involved in the month-end close and explains why each step is vital for reliable financial reporting.

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Taming the Tax Tangle if You’re Retiring Soon

RogerRossmeisl

Retirement is often viewed as an opportunity to travel, spend time with family or simply enjoy the fruits of a long career. Yet the transition may bring a tangle of tax considerations. Planning carefully can help you minimize tax bills. Below are four steps to take if youre approaching retirement, along with the tax implications. 1. Consider your post-career lifestyle Begin by assessing what retirement might look like for you.

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Enhancing Financial Transparency: Effective Budgeting and Reporting for Vacation Ownership Resorts

Withum

Vacation ownership resorts operate in a unique segment of the hospitality industry, requiring solid financial management to ensure sustainability, profitability and guest and owner satisfaction. Effective budgeting and financial reporting are crucial for these entities to manage their resources efficiently, meet regulatory requirements, and provide transparency to stakeholders.

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Expert insights on payroll data security and tax scams in 2025

ThomsonReuters

Businesses continue to face serious cyber threats that target payroll and tax information. As scams become more common, it is important for companies to protect sensitive data and stay compliant with regulations to better secure their payroll processes and reduce risks. Cliff Steinhauer, Director of Information Security and Engagement at The National Cybersecurity Alliance (NCA), recently highlighted the importance of recognizing common payroll-related tax scams, understanding the evolution of d

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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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Building a Resilient Financial Infrastructure: Lessons for Business Owners

AccountingDepartment

In todays fast-paced digital economy, business owners rely heavily on financial tools and services to manage cash flow, track expenses, and handle accounting needs. However, over-reliance on any single platform can put businesses at significant risk.

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Pros and Cons of Cash-basis Accounting

Patriot Software

Choosing your accounting method is the first step in handling your companys books. If youre a small business owner, you may prefer the simplicity of cash basis as opposed to accrual or modified cash-basis accounting. But before solidifying your decision, learn the pros and cons of cash-basis accounting.

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The Future of Business: Outsourced Accounting Services

Basis 365

The way businesses handle their finances is evolving. Managing accounting in-house is expensive, time-consuming, and often inefficient. Hiring full-time staff, maintaining software, and ensuring compliance take valuable resources away from growth. Outsourced accounting services offer a smarter approach. By leveraging cloud-based technology and expert financial support, businesses can reduce costs, improve accuracy, and gain real-time financial insights.

Account 52
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Financial Relief for Families: The Benefits of the Child Tax Credit

RogerRossmeisl

The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. Whether youre new to claiming the credit or youve benefited from it for years, its crucial to stay current on its rules and potential changes. As we approach the expiration of certain provisions within the Tax Cuts and Jobs Act (TCJA) at the end of 2025, heres what you need to know about the CTC for 2024, 2025 and beyond.

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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.