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Is it time to upgrade? Tips for changing accounting systems in 2025

Accounting Seed

Changing accounting systems can feel intimidating. Even if the legacy accounting system you currently use doesnt have the features, speed, or power you need, at least its familiar. Sometimes though, the benefits of switching to new software begins to outweigh the cost of learning a new system.

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Demand for Automation in Sales Tax Compliance is Rising, Avalara Says

CPA Practice

tax professionals responsible for managing sales tax obligations for independent retailers reveals that 97% of respondents say they have automated or plan to automate their sales tax compliance process. A new Avalara survey of U.S. The survey, which was conducted from Oct. The survey, which was conducted from Oct.

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Decisions 2024: The Opportunities for Accounting Firms Have Never Been Greater

CPA Practice

For example, 1040 tax prep will likely soon be worth more than ever. The Future Of Individual Tax Prep Is Brighter Than Ever While AI has been everywhere in the last few years, practical AI built into traditional platforms is being augmented by platforms to help with productivity. Automation and AI are reducing the labor needed!

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Scary Numbers: How To Effectively Deal With Tax Notices

Shay CPA

Over the last 20 years of being an accountant, I’ve opened my fair share of mail to find tax notices so daunting they could wake you in cold sweat. These letters—from federal, state, or city agencies—might demand income tax, franchise tax, sales tax, unemployment insurance, or workers’ compensation.

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Real Estate Accounting Best Practices: Ensuring Tax Readiness and Financial Success

Withum

Appropriate accounting practices are crucial for real estate entities not only to manage daily operations, but also to ensure tax readiness and compliance. Selecting the Appropriate Accounting Method The choice between cash and accrual accounting methods can significantly impact financial reporting and tax filings.

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Top 10 Financial Considerations for Life Sciences Businesses Looking to Expand Into the United States

Withum

Payroll providers handle payments, compliance, and payroll tax administration on your behalf. Each entity type can have a drastically different impact on your global tax, so it’s important to carefully consider how to best structure your business. Leadership Team Without Triggering Tax Risk Who will be managing the U.S.

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How To Download Your IRS Account Transcript to Look Up Your Estimated Tax Payments (Updated Jan 2025)

Nancy McClelland, LLC

It’s tax time, you’re digging through your records… and your preparer or tax software asks about tax payments you’ve already made. “What is an IRS Account Transcript and Why Do I Need One?” Initially, this was to confirm the amounts of stimulus payments and child tax credit payments.

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