A guide to Making Tax Digital for Income Tax Self Assessment
Wellers Accounting
JULY 29, 2025
Making Tax Digital for Income Tax Self Assessment is being rolled out in phases, here is a guide of what you need to know and action.
Deduct a Loss from Making a Personal Loan to a Relative or Friend
RogerRossmeisl
APRIL 27, 2025
Thats a nice thought, but there are tax implications that you should understand and take into account. For federal income tax purposes, losses from personal loans are classified as short-term capital losses.
Join 237,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Webinars
AI In Accounting: A Practical Roadmap For Smarter AP
How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology
Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future
Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026
Trending Sources
Texas Accounting Firm Brown Graham Celebrates 70th Anniversary
CPA Practice
JUNE 5, 2025
Today, the firm’s team of over 85 professionals delivers comprehensive services including audit, tax, business advisory, business valuation, fraud and forensic accounting, outsourced accounting, and wealth management consulting. Watch the video, listen to the audio, or read the transcript.
Webinars
AI In Accounting: A Practical Roadmap For Smarter AP
How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology
Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future
Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026
IMA Expands Its Management Accounting Competency Framework
CPA Practice
JUNE 25, 2025
Jason Bramwell The Institute of Management Accountants recently announced that it was expanding its competency framework for accounting and finance professionals. Jason Bramwell The Institute of Management Accountants recently announced that it was expanding its competency framework for accounting and finance professionals.
Billtrust Launches New AI-Powered Accounts Receivable Innovations
CPA Practice
JULY 15, 2025
OBannon Billtrust , a B2B accounts receivable workflow and payment software market leader, has added new innovations in its Collections solution, delivering a new standard for AR teams by unifying advanced automation, AI-driven insights, and seamless agentic AI workflows. .” auditing rules and standards were Goldman & Co.
How to efficiently file individual income tax returns: A workflow guide for accounting firms
ThomsonReuters
DECEMBER 4, 2024
Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms.
House Republicans propose to withhold funds from FASB
Accounting Today
JULY 22, 2025
House Republicans released a spending proposal that threatens to withhold funding from the Financial Accounting Standards Board unless it withdraws its income tax reporting standard.
ADP Adds New Resource Center to Give Accountants Strategic Advisory Tools
CPA Practice
JUNE 6, 2025
OBannon ADP has announced the launch of the Accountant Connect Resource Center , a centralized destination designed to help accounting professionals strengthen their advisory services and support client growth. To explore the Resource Center, visit ADP.com/AccountantResourceCenter. Thanks for reading CPA Practice Advisor!
Sales Tax Hive Roundtable Launches to Help Bookkeepers and Accountants Tackle Sales Tax with Confidence
CPA Practice
JUNE 30, 2025
OBannon The Sales Tax Sisters, Mary Thomas (Attorney and CPA) and Stephanie Thomas (CPA), are excited to announce their partnership with Roundtable Labs to launch The Sales Tax Hive , a new roundtable community designed exclusively for bookkeepers, accountants, and finance professionals navigating the complexities of sales and use tax.
Whitepaper: Elevate Your Firm’s Pricing Strategy. Are You Leaving Money on the Table?
CPA Practice
JULY 24, 2025
OBannon Firm Management July 24, 2025 10 Essentials for Selecting a Practice Management System Choosing the right practice management solution for your accounting firm is not a tactical decision; it is a strategic one that will impact the businesss efficiency now and for years to come. © 2025 Firmworks, LLC. All rights reserved.
IRS Reminds Tax Pros of Requirement for a Written Information Security Plan (WISP)
CPA Practice
JULY 29, 2025
What tax pros should know about WISPs Required by law. Under this law, tax and accounting professionals are considered financial institutions and must implement a data security plan. The Gramm-Leach-Bliley Act (GLBA) requires all financial institutions to protect customer data. © 2025 Firmworks, LLC.
Congress Passes One Big Beautiful Bill – President to Sign on July 4
Withum
JULY 4, 2025
One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. The Senate bill adds an additional $1 trillion more than the original House bill proposed.
Your Making Tax Digital for Income Tax checklist
Accounting Insight
MAY 8, 2025
Get your accounting practice Making Tax Digital for Income Tax ready with our comprehensive checklist. The MTD checklist includes: What MTD for Income Tax is and what it means for accountants. The MTD checklist includes: What MTD for Income Tax is and what it means for accountants.
MTD awareness gap signals opportunity for accountants
Accounting Insight
MAY 21, 2025
IRIS Software Group research reveals half a million sole traders want to hear from their accountants on forthcoming MTD requirements. Almost half of UK sole traders at risk of non-compliance, feeling unprepared for income tax changes due April 2026. Other respondents took accountability for their lack of awareness.
Armanino Adds Strategic Accounting Outsourced Solutions
CPA Practice
JULY 16, 2025
Jason Bramwell Top 20 accounting firm Armanino has expanded its managed service offerings by joining forces with Strategic Accounting Outsourced Solutions, a specialized outsourced accounting firm. Financial terms of the deal weren’t disclosed. Founded in 2012 and recognized on the Inc.
Philadelphia-Area Accountant Pleads to Filing Nearly $220,000 in False Tax Reports
CPA Practice
MAY 21, 2025
Sirleaf, 65, of Darby, PA, pleaded guilty to 15 counts of aiding and assisting in the preparation of false income tax returns and three counts of filing false personal income tax returns for himself.
Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24
Going Concern
NOVEMBER 8, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Talent Attn accounting employers: your talent woes are over!
Answering your MTD for Income Tax FAQs
Accounting Insight
MAY 9, 2025
In this blog, we answer all your FAQs related to MTD for Income Tax , as there remains uncertainty about HMRCs scheme. What is MTD for Income Tax? Be able to provide their Income Tax return information to HMRC through compatible software. Who is exempt from MTD for Income Tax?
Understanding Nevada LLC Taxes
inDinero Tax Tips
OCTOBER 22, 2024
LLC Taxes in Nevada Here are the primary reasons Nevada is an attractive place to start a business: While the average American pays 8.9% in state income tax, Nevada is one of a handful of states that doesn’t have personal income tax. That said, the state isn’t tax-free.
Integra Global Solutions Rolls Out AI Receptionist Solution for Accounting Firms
CPA Practice
JUNE 11, 2025
Jason Bramwell Outsourced accounting and artificial intelligence bookkeeping software provider Integra Global Solutions this week launched its AI Answering Services, an always-on receptionist solution tailored exclusively for accounting firms.
Billtrust Launches New AI-Powered Accounts Receivable Innovations
CPA Practice
JULY 24, 2025
OBannon Billtrust , a B2B accounts receivable workflow and payment software market leader, has added new innovations in its Collections solution, delivering a new standard for AR teams by unifying advanced automation, AI-driven insights, and seamless agentic AI workflows. .”
The Rise of Non-CPAs in CPA Firm Acquisitions
CPA Practice
JULY 15, 2025
The accounting profession is undergoing a significant transformation as more non-CPAs acquire CPA firms. A growing number of non-CPA buyers are acquiring multiple CPA firms to build scalable, regional, and niche accounting businesses. This shift has opened the door for non-CPA buyers looking to enter the accounting profession.
Atlanta CPA Heading to Federal Prison For Tax Shelter Scheme
CPA Practice
NOVEMBER 6, 2024
By Lois Norder The Atlanta Journal-Constitution (TNS) An Atlanta-area accountant sold his clients on what he assured them was a lucrative, guaranteed investment. For every dollar they paid in, they would get tax deductions of about $4.50. He also prepared tax returns for clients with deductions he knew to be false.
Tax Firms Without AI Strategies Will Fall Behind (and Fast), New Study Warns
CPA Practice
JUNE 26, 2025
OBannon A new study from Thomson Reuters comes with a stark warning to the tax and accounting industry: firms without artificial intelligence strategies could fall irrevocably behind in the next 12 months as competing firms leverage the technology to transform faster, serve better, and hire smarter.
How to write an advisory services proposal
ThomsonReuters
OCTOBER 24, 2024
Writing an advisory services proposal with a template An easier way to write advisory proposals The shift toward providing more higher-value advisory services continues to gain momentum as accounting firms increasingly look for ways to better serve clients, sharpen their competitive edge, and drive greater profitability.
AICPA News – July 2025
CPA Practice
JULY 7, 2025
Mary Girsch-Bock AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. Mary Girsch-Bock AICPA News is a collection of recent news briefs from the American Institute of CPAs and the Chartered Institute of Management Accountants. from spring 2024.
Tech Startup Accounting Insights From A Y Combinator Company
inDinero Tax Tips
JANUARY 1, 2025
When youre building a tech startup, accounting probably doesnt feel very exciting. In this article, well explore the essentials of tech startup accounting, including best practices, common mistakes, and the accounting software we think will make your life easier. Whats Unique About Tech Startup Accounting?
Professionals on the Move – June 2025, Part II
CPA Practice
JUNE 18, 2025
He also has more than 25 years of public accounting experience in the Columbus area. His executive leadership experience, coupled with his extensive experience in public accounting, further enhances Schneider Downs’ ability to provide highest-level consulting and guidance to its roster of clients.
What to Do When the Future Looks Scary (Again)
CPA Practice
JUNE 12, 2025
Closer to home, accounting firm leaders face hiring challenges, succession planning woes and the very real question: what role will humans play as AI and automation take over more of our work? Build relationships to build resilience AI won’t replace accountants. So let’s revisit that advice and update it for the here and now.
Special Report: 2025 Readers’ Choice Awards
CPA Practice
JUNE 30, 2025
From tax prep to asset management, invoicing and portals, and auditing to remote CFO functions, the services the accounting and tax pros provide are dependent on the technologies they use. The awards highlight the most useful technology for firms and clients. © 2025 Firmworks, LLC.
Blast past tax time stress this EOFY: Steps to process and finalise payroll
Xero
JUNE 6, 2025
Reconcile your payroll accounts After processing all pay runs for the financial year, it’s important to forensically check the accuracy of your reporting. If you come across any discrepancies in your payroll accounts, you can use the remove and redo feature to edit the transaction and allocate it to the correct accounts.
Why accountants make me laugh (without meaning to): multiple profits
Accounting Insight
OCTOBER 25, 2024
The three profits included in accounting textbooks: gross profit, operating profit and net profit are a good start for accountancy students. Limiting them to just three types of profit is intended to avoid overburdening young accountants at the beginning of their studies. Many companies no longer have net profit, but net income.
The impact of the SALT cap on state income taxation: What’s at stake
ThomsonReuters
JUNE 18, 2025
How the SALT cap affects state budgets SALT cap provisions in the One Big Beautiful Bill Act How to stay up-to-date with changing SALT deduction legislation Newsletter Tax and accounting news featuring content from Checkpoint Sign up What is the current SALT cap? 86-272, representing a substantial shift in interstate commerce taxation.
Canopy Announces Release of New Client Intake Solution
CPA Practice
JULY 22, 2025
Jason Bramwell Accounting practice management platform Canopy on July 22 launched Smart Intake, a native solution that automates client intake and tax workflow with AI-powered questionnaires, featuring intelligent prefill, document checklists, and real-time customer relationship management data sync. Log In Need more information?
AICPA News – June 2025
CPA Practice
JUNE 18, 2025
Nearly Three-Quarters of Accounting Master’s Programs Report an Increase in Applications New data from the Graduate Management Admission Council (GMAC), an association of leading graduate business schools, shows strong growth in applications to Master of Accounting programs. The share of growth in applications hit a five-year high.
Making Tax Digital: A Wake-Up Call—And Window of Opportunity
Accounting Insight
JUNE 6, 2025
Technology-embracing firms enjoy nearly two-thirds more revenue growth compared to their competitors, according to a recent report on the future of accounting. The transition to digital tax compliance offers more than just another regulatory checkpoint. MTD is happening. What does this mean for your practice?
AICPA and CIMA Launch Business Resilience Toolkit
CPA Practice
JULY 22, 2025
The Business Resilience Toolkit equips accounting and finance professionals to act as strategic advisors and critical business partners. Jason Bramwell Leave a Reply Cancel reply Δ CPA Practice Advisor is the definitive technology and practice management resource for accounting and tax professionals.
Navigating Tax Reform: The Three Statements that Will Help You Sell Tax Plans This Year
CTP
JUNE 9, 2025
Practicing Scenario Modeling With so many tax provisions up in the air this year, planning ahead can feel like an impossible task. To accelerate income, we might look at a Roth conversion or execute some trades to pull income into this year when income tax rates are lower.
How to Master MTD in 60 Minutes: The Practical Blueprint for Busy Accounting Firms
Accounting Web
JULY 24, 2025
HMRC & policy Tags HMRC Income tax Making tax digital
All I Want for the Holidays Is…. A Tax Provision Specialist
Withum
DECEMBER 18, 2024
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, balance sheets, and, finally, the income tax provisions and disclosures that must be presented in the financial statements.
Georgia Tax Preparer Guilty of Filing $3 Million in Fraudulent Returns
CPA Practice
DECEMBER 3, 2024
27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. The FBI and our law enforcement partners will continue to identify and hold accountable anyone who defrauds taxpayers.” (TNS) ATHENS, GA (Nov. Tripp” Self III.
Mississippi, Texas storm victims get tax relief
Accounting Today
JUNE 20, 2025
The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) 3 deadline for both states applies to individual income tax returns and payments normally due on April 15, 2025. All rights reserved. For individual taxpayers, this means Oct.
One Big Beautiful Bill Act: Changes, challenges and opportunites
ThomsonReuters
JULY 23, 2025
Jump to ↓ Key provisions and changes Challenges and opportunities for tax professionals Planning opportunities Key takeaways from the One Big Beautiful Bill Act The One Big Beautiful Bill Act (OBBBA) has brought significant changes to the tax landscape, presenting both challenges and opportunities for tax professionals and their clients.
Update to sales tax requirements of selling into Canada
TaxConnex
JANUARY 9, 2025
For foreign digital economy business companies, registering to collect and remit Canadian sales tax starts with a Revenue Agency questionnaire. If you need to register for the GST/HST, you need to register for either a simplified GST/HST account or a normal GST/HST account.
Let's personalize your content