CPA Practice

JULY 15, 2025

This white paper explores why non-CPAs are buying firms, the challenges they face, and how they can leverage technology and direct ownership offshoring to build and scale modern CPA practices. The subscription-like nature of tax, audit, and advisory services makes these firms attractive to investors seeking long-term, stable returns.

cpa firm

ThomsonReuters

DECEMBER 10, 2024

However, the dawn of AI-powered tax technology offers a unique opportunity to overcome these barriers. By automating routine tasks and enhancing tax research, AI empowers accountants to deliver proactive tax strategies that engage and retain clients, while also boosting revenue.

Technology

ThomsonReuters

DECEMBER 27, 2024

Blog home With the introduction of Accounting Standards Update 2023-08, Subtopic 350-60, the landscape for accounting, audit, and assurance of cryptocurrency is evolving. Unique audit risks related to cryptocurrency What is an auditors responsibility in crypto audits? What can accountants do to prepare for crypto audits?

audit

ThomsonReuters

JULY 21, 2025

The audit profession stands at a transformative crossroads. As regulatory complexity intensifies and client expectations soar, audit professionals face mounting pressure from time-consuming manual tasks, increasingly intricate compliance requirements, and the persistent threat of burnout. The result?

audit

ThomsonReuters

FEBRUARY 6, 2025

In the fast-paced world of accounting and tax preparation, every minute counts. According to the 2024 State of Tax Professionals Report , time management, meeting deadlines, and timely filing were the second highest set of challenges for survey respondents. Blog series: Interested in more tax season tips?

cpas

TaxConnex

JULY 29, 2025

If your sales tax obligations have gotten ahead of you – and you owe back taxes – you have a few tools to mitigate your problem. You can refund collected sales tax to your customers, or you can proactivity register with a jurisdiction and pay what you owe. A VDA can make the sometimes-hefty penalties disappear.

tax return

ThomsonReuters

APRIL 4, 2025

For tax and accounting professionals, understanding blockchain and cryptocurrency is not just beneficialit’s becoming essential. Example : A retail business can implement a smart contract to automatically calculate and report sales tax , ensuring accurate and timely tax filings.

accounted

ThomsonReuters

NOVEMBER 7, 2024

finance, tax, e-commerce, sales, marketing, human resources—are integrated and run. Tax’s contribution to the planning conversation is important because tax is one of the heaviest users of data in a large organization.

Tax

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. Jump to: 1.

tax return

ThomsonReuters

JULY 22, 2025

As more automation capabilities are woven into tax and accounting firm workflows, robotic process automation (RPA) and more recently, agentic AI , are among the solutions in the technology toolbox. Analyze market trends, financial data, and tax implications to assist professionals in long-term business and tax planning for their clients.

Technology

ThomsonReuters

FEBRUARY 19, 2025

Blog home As a Chief Technology Officer (CTO) of a multi-national corporation, we understand the complications you face in the ever-changing world of indirect tax. This helps professionals manage indirect tax priorities more effectively and ensures data accuracy and compliance.

Technology

ThomsonReuters

MAY 27, 2025

Thomson Reuters ONESOURCE is a state-of-the-art tax platform that provides everything corporate tax departments and IT personnel need to manage indirect and direct tax calculations, reporting, and compliance. How can ONESOURCE future-proof our tax operations? Can ONESOURCE transform tax data into business intelligence?

Tax

CPA Practice

OCTOBER 22, 2024

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. federal payroll compliance is an ongoing process that requires vigilance and dedication.

payroll

TaxConnex

APRIL 28, 2022

Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office. Fear and perception of audits are as tangible as the real examinations. Fear and loathing.

audit

MyIRSRelief

DECEMBER 13, 2024

How CPAs and Lawyers Can Collaborate with Mike Habib, EA for Tax Representation Referrals Mike Habib, EA, is a trusted tax resolution expert with extensive experience helping individuals and businesses resolve complicated tax issues. Contact us today at 1-877-78-TAXES [1-877-788-2937].

cpas

ThomsonReuters

JANUARY 8, 2024

Automation of routine tasks One of the most significant ways AI has revolutionized the tax and accounting profession is through the automation of routine tasks. Automation of routine tasks One of the most significant ways AI has revolutionized the tax and accounting profession is through the automation of routine tasks.

Tax

TaxConnex

DECEMBER 8, 2020

Voluntary disclosure agreements (VDAs) can be an effective way to mitigate prior period sales tax exposure. If you don’t disclose back taxes and they’re unearthed through an audit, you could end up being assessed various penalties plus interest plus all tax due. Myth: It’s just a way for a state tax authority to find me.

audit

ThomsonReuters

APRIL 19, 2023

The accounting and audit profession is undergoing significant changes as a result of the rapid advancement of technology. So, then, how do audit firms evolve to make sure they are prepared for when the right technology can help them prosper? Standardization can help firms save significant time and reduce inefficiencies.

audit

ThomsonReuters

AUGUST 10, 2023

Charting a smooth course, either on the open seas or at your audit firm, is an exciting opportunity for explorers and tax professionals alike. Here, we will talk through some best practices when implementing new audit software solutions as well as some common pitfalls that can arise throughout the process.

Technology

ThomsonReuters

JUNE 28, 2023

In a rapidly changing and increasingly competitive business environment, it is essential for audit firms to stay ahead of the curve and remain competitive. What is the role of innovation in auditing? Innovation is a crucial element of any successful business, and the auditing process is no exception.

audit

ThomsonReuters

FEBRUARY 2, 2022

the potential market available to tax and accounting firms is massive. How to market tax and accounting services. You can do this online through blogs, white papers, webinars, and podcasts, or offline through speaking engagements and networking opportunities. Turning tax clients into full-service clients.

accounting firms

ThomsonReuters

JULY 13, 2023

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. Boost tax workflow efficiency through automation Empower and engage staff Wow clients with enhanced services 1.

Technology

CPA Practice

JULY 6, 2023

Because someone that I’ve known for quite a few years, Mark Edmondson who is the CEO in flow, produced a white paper called The audit technology ecosystem, the audit technology ecosystem. And I think that the whole audit space is going to be complete almost unrecognizable five years from now.

Technology

ThomsonReuters

JANUARY 24, 2023

Driven by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products, companies are increasingly setting their sights on ESG-related initiatives, such as audit certification. In fact, an article by global management consulting firm McKinsey and Co.,

audit

ThomsonReuters

JULY 25, 2023

A company’s decision to introduce indirect tax (IDT) automation into its tax processes is often fraught with indecision and uncertainty. Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be.

Technology

ThomsonReuters

FEBRUARY 23, 2024

Jump to: Why is it important to be proactive toward sales tax audits? How can my company prepare for a potential sales tax audit? How can tax technology help when defending an audit? When and how should tax systems be upgraded? Why is it important to be proactive toward sales tax audits?

audit

ThomsonReuters

JANUARY 9, 2024

Designed to prevent the practice of moving profits to lower tax jurisdictions, under the new “Pillar Two” rules , companies whose revenues exceed €750m will have to pay a minimum tax rate of 15% in each country where they do business. We already have Excel and tax provision software, so why can’t we use that?

Technology

ThomsonReuters

MARCH 19, 2024

Jump to: When should you contest an audit? How should you prepare for an audit defense? How can automation help in an audit defense? What if a sales tax audit needs to be appealed? Contesting the audit means going through a complex decision tree, the steps of which are detailed below.

audit

ThomsonReuters

JANUARY 16, 2024

How mobile apps meet client expectations Streamlining your 1040 source document collection According to a recent survey by Protiviti and The Institute of Internal Auditors (IIA) , almost 75% of respondents, including 82% of technology audit leaders, view cybersecurity as a high-risk area, and with good reason.

audit

ThomsonReuters

APRIL 2, 2024

While the exact details of the investigation remain undisclosed, the IRS’s involvement suggests potential tax evasion and money laundering charges. In the case of the investigation into Shohei Ohtani’s former interpreter, the IRS’s involvement suggests that there may be evidence of tax evasion or money laundering.

Gambling

ThomsonReuters

SEPTEMBER 3, 2024

The 2024 Generative AI in Professional Services research conducted by the Thomson Reuters Institute provides a comprehensive overview of the burgeoning role of GenAI across various professional sectors, including legal, tax, accounting, risk, and government. AI’s impact on audit jobs and billing Despite the optimism, there are concerns.

auditor

ThomsonReuters

MAY 23, 2024

From a shrinking talent pool to high turnover, the talent battle among accounting and audit firms continues to be a fierce one. For firms looking to attract and retain top talent , one factor rises to the top: audit talent development. Enter AuditWatch , a comprehensive audit training and consulting for accounting professionals.

audit

ThomsonReuters

JANUARY 12, 2023

Historically, auditors spent weeks out in the field holed up at the headquarters of the company undergoing an audit. Thanks to advancements in technology — such as cloud-based solutions, teleconferencing, data-sharing platforms, and drones with cameras — remote audits are possible as long as the right tools and policies are in place. .

audit

Anders CPA

MAY 31, 2022

Then, once or twice a year, you’re in a mad rush to reconcile all of this and figure out what you did wrong – or what you must do to pass an audit or do your taxes. #2: Download our Next-Generation FP&A White Paper. Each department has its own spreadsheet and software. 2: Expectations Don’t Meet Reality.

accounting and finance

ThomsonReuters

AUGUST 3, 2023

In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. As a result, projects are completed more efficiently, and clients experience faster turnaround times for their accounting and tax needs.

accounting firms

ThomsonReuters

JUNE 16, 2023

Is their current technology a drain on efficiency and profitability? As outlined in the Thomson Reuters white paper “ Mind the gap: Identifying gaps in your software this tax season ,” there are several indicators to help firms determine if their accounting technology is outdated and in need of a refresh.

Technology

ThomsonReuters

MAY 27, 2025

Thomson Reuters ONESOURCE is a state-of-the-art tax platform that provides everything corporate tax departments and IT personnel need to manage indirect and direct tax calculations, reporting, and compliance. How can ONESOURCE future-proof our tax operations? Can ONESOURCE transform tax data into business intelligence?

Tax