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. To learn more, let’s take a look at three ways accounting firms can use AI as a competitive advantage.

Tax 97

Tax Technology accounting firms income tax 97

ThomsonReuters

AUGUST 3, 2023

As a result of the explosion of new tools and software available, accounting firms have a significant opportunity to improve their reputational status through enhanced advisory service offerings. Accounting firms who are equipped with these tools and information will be in a position to help their clients respond to these changes.

Technology 98

Technology accounting firms Tax Account 98

Shay CPA

APRIL 3, 2024

With that in mind, our team of expert tech startup bookkeepers and accountants put our heads together. Organize according to GAAP If you’ve been following our blogs, you’ve probably seen this come up before. GAAP stands for Generally Accepted Accounting Principles. GAAP stands for Generally Accepted Accounting Principles.

bookkeeping 59

bookkeeping Finance accounting and finance accounting principles 59

ThomsonReuters

NOVEMBER 9, 2023

In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background. The advantage of AI is that it can rapidly process vast data sets.

tax planning 105

tax planning accounting firms Tax Account 105

ThomsonReuters

APRIL 25, 2024

When it comes to navigating the tax landscape of 401(k) contributions and withdrawals, it’s important for accountants to stay informed and help clients make tax-efficient decisions during their retirement years. Additionally, certain employer contributions and matching programs provide further advantages. Jump to: Is a 401(k) pre-tax?

Tax 52

Tax income tax tax preparation Account 52

Xero

JANUARY 30, 2024

Property investment accounting, or landlord accounting, manages your property portfolio assisting with tax compliance and return on investment. Know property investment accounting regulations and taxes To swim well, you need to know the strokes, and how to navigate the water.

Account 93

Account accountant accounted accounting and finance 93

ThomsonReuters

FEBRUARY 8, 2024

Jump to: Unlocking the power of advisory tools Deliver advisory engagements with Checkpoint Edge Advisory Maps Grow your firm with Practice Forward Advisory tools have emerged as transformative forces in the tax and accounting profession, empowering firms of all sizes to deliver efficient and effective services to their clients.

Tax 52

Tax Account accountant accounted 52

inDinero Accounting

DECEMBER 13, 2021

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. However, even with an accountant, you still need a way to keep records. However, even with an accountant, you still need a way to keep records.

NetSuite 104

NetSuite accounting software quickbooks Account 104

ThomsonReuters

JUNE 16, 2023

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. Is your firm ready?

Account 110

Account accountant accounted Technology 110

CPA Practice

OCTOBER 4, 2023

In the same way that accountants utilize real-time data to provide proactive advice to their CAS clients, accountants can also utilize the latest in modern spend & expense management tools and resources to offer their clients the visibility they need into their SMB’s cash flow.

Spend Management 59

Spend Management Expense Management Account accountant 59

ThomsonReuters

MARCH 1, 2024

How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs). What are the tax advantages of an S corporation?

corporation tax 52

corporation tax Tax tax return income tax 52

ThomsonReuters

JULY 25, 2023

And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. – The software keeps all the rules, policies, rates, and codes up to date. Wing: Again, one of the advantages of automating IDT processes is more accurate and efficient tax operations overall.

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

NOVEMBER 8, 2022

Most accountants know that choosing the right accounting technology can boost the ability to serve clients, satisfy staff, and build deeper client relationships.?But But how do you take full advantage of technology to streamline accounting processes? . uncovering new opportunities. . Standardize your tax workflow.

Technology 105

Technology Account accountant accounted 105

ThomsonReuters

AUGUST 2, 2022

Even as accounting firms emerge from the COVID-19 pandemic with a new appreciation for technology’s ability to enable remote work and seamless collaboration, a new challenge has surfaced. With sophisticated diagnostics, accountants no longer have to manually detect blank fields or numbers that don’t add up.

Technology 98

Technology Tax Non-Profits tax preparation 98

ThomsonReuters

APRIL 8, 2024

It can cause anxiety, but may also present tremendous opportunities, according to panelists for the Thomson Reuters webinar: “ From Compliance Necessity to Strategic Advantage: How can you master the tax provision process?” “The Panelists recommended using the right tax tools and tax provision software to help manage the data appropriately.

Tax 52

Tax Technology accounting and finance Gaming 52

Ryan Lazanis

APRIL 18, 2023

Artificial intelligence in accounting is currently transforming the industry. Table of Contents What is AI in Accounting? Can AI Replace Accountants? Benefits of Artificial Intelligence How is AI Used in Accounting? In fact, ChatGPT wrote the above description: Can AI Replace Accountants?

Account 96

Account accountant accounted Technology 96

Snyder

DECEMBER 27, 2022

Freelance accounting is increasing in popularity. Even if online accounting is something you’ve done for years, becoming a freelancer may seem tricky to begin with. Even if online accounting is something you’ve done for years, becoming a freelancer may seem tricky to begin with. What do freelance accountants need?

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Account accountant accounted accounting and finance 98

ThomsonReuters

NOVEMBER 15, 2023

For accountants, understanding the ins and outs of tax deductions for charitable contributions , including how to properly report monetary donations using Schedule A, is an essential part of tax planning for clients. Carefully evaluate your financial situation to determine which option is more advantageous.

Tax 94

Tax tax return tax planning income tax 94

Ronika Khanna CPA,CA

DECEMBER 7, 2023

The search for the right accounting software can be a time consuming process. A Google search for “ small business accounting software ” yields over 250 million results. COST One of the most attractive aspects of QuickBooks Online (QBO) is you get a fully functional accounting software at a relatively low cost.

accounting software 52

accounting software quickbooks Account accountant 52

ThomsonReuters

JANUARY 18, 2024

Jump to: What are the roles and responsibilities for accountants? Accountant vs. CPA vs. tax preparer: What are the differences? GAAP and AICPA What issues should accountants be aware of in the profession? How can accountants be more efficient? Accountant responsibilities extend far beyond number crunching.

Account 59

Account accountant accounted tax preparation 59

MineralTree

OCTOBER 26, 2023

Automation is reshaping the way companies manage their financial operations, especially in accounts payable (AP). In this blog post, we’ll dive into the transformative world of AP technology to explore its role in modern financial operations and how it can help businesses save time and money.

AP Automation 76

AP Automation Technology AP Processes accounts payable 76

ThomsonReuters

APRIL 21, 2022

Firms experienced first-hand use cases for Cloud-enabled software and have learned that digital transformation is essential to ensuring business continuity, recruiting, and retaining talent, improving communication with clients, and growth. . Invest in cloud-enabled software . Cloud-enabled audit software enables firms to: .

Technology 59

Technology audit auditor Tax 59

Ryan Lazanis

SEPTEMBER 1, 2023

If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation.

accounting software 98

accounting software quickbooks Account accountant 98

Xero

APRIL 12, 2023

How can you take advantage of embedded finance? You and your customers can inadvertently sign up for multiple buy now, pay later options, cards and accounts — some of which can be forgotten and left unpaid. The post How small businesses can use the power of embedded finance appeared first on Xero Blog.

Finance 98

Finance accounting and finance accounting software Start-ups 98

Reckon

AUGUST 2, 2023

Guest post blog by Catherine Schwartz Today, having more than one income stream is completely feasible. By monetising YouTube videos and blogs, taking up flexible freelance gigs, and cashing in on social media affiliate marketing (some of the most common and lucrative side hustles) many digitally skilled young guns are taking the plunge.”

accounting and finance 98

accounting and finance Non-Profits Start-ups Finance 98

ThomsonReuters

OCTOBER 31, 2023

In accounting, the depletion deduction enables an owner or operator to account for the reduction of the mineral property’s value or basis as a result of the extraction of those natural resources. To help clients better manage depletion expenses, consider a comprehensive tax software solution that features an oil and gas module.

Tax 59

Tax tax preparation Legal Account 59

ThomsonReuters

AUGUST 1, 2023

Thomson Reuters set out to answer that question by surveying more than 100 CPAs who are currently employed as accountants. The results show that tax and accounting professionals know exactly what they want in an employer—and here’s how firms can heed the call. The answer lies in using technology to your advantage.

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ThomsonReuters

DECEMBER 20, 2021

Now that tax season is approaching, you may find yourself contemplating the upcoming season and whether you’d be happier as the owner of your own accounting firm. From tax software geared toward small firms to curated news and insights for firm owners, the barriers to starting your own CPA firm have never been lower.

accounting firms 52

accounting firms Account accountant accounted 52

Reckon

JULY 24, 2023

Today, modern bookkeepers are not limited to accounting – in fact, with the right education, you can facilitate everything from strategic client engagement and compliance to offering professional advice about leadership, cloud software adoption and automation technologies.

bookkeeping 52

bookkeeping bookkeeping software Education Technology 52

ThomsonReuters

JANUARY 4, 2024

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead.

tax planning 78

tax planning Tax Technology tax return 78

ThomsonReuters

MARCH 21, 2023

In fact, it can be used as a competitive advantage. This is especially true for accounting firms. As accountants know all too well, the long hours and 24/7 demands of tax season (and beyond) can take a toll. For many accounting firms, you may have known staff members and clients for many years. Prioritize well-being.

Technology 59

Technology Tax accounting firms accounting software 59

ThomsonReuters

MAY 17, 2023

As we complete our examination of the impacts of SAS 145 for tax and accounting professionals, we’ll build on our previous posts on risk assessment , documentation and analysis , and balancing scope and complexity in auditing. In this last post, we’ll look at risks that can arise from the use of IT in accounting and auditing.

auditor 52

auditor audit Technology Tax 52

ThomsonReuters

JANUARY 12, 2023

When it comes to cryptocurrency, there are many unknowns around accounting, audit and assurance. So, what can accountants do to prepare for crypto audits? . Blockchain technology enables accountants and auditors to access crypto information in real time—without having to wait for clients to provide data on their transactions. .

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audit tax preparation Technology tax planning 52

Xero

SEPTEMBER 21, 2022

The move to cloud accounting. So, she turned to BDO’s Cloud Accounting Services to boost her operations and free up time to focus on her people. She recalls handwriting the statements on graph paper, then having her bookkeeper format them, and then getting it to their BDO accountant at the end of the year.

bookkeeping 74

bookkeeping bookkeeping services accounting and finance accounting software 74

ThomsonReuters

DECEMBER 5, 2022

For tax and accounting professionals, time is a precious commodity. By removing manual, time-consuming compliance tasks from workloads, tax and accounting professionals can reclaim those hours and use them for greater value activities such as advisory services. . Use technology to your advantage and plan for future success .

Technology 59

Technology Tax financial statements cpa firm 59

Shay CPA

MARCH 16, 2023

Akshay Shrimanker, our Founder and CEO, recently joined Blake Oliver, David Leary, and a panel of other accounting experts (Mike Moiśe CPA, Matthew May CPA, and Reynaldo Arellano CPA) on a special episode of the Cloud Accounting Podcast. The immediate impact After $42 billion was pulled from SVB accounts, the writing was on the wall.

Technology 52

Technology CPA accounting and finance accounts payable 52

ThomsonReuters

APRIL 19, 2022

Accounting firms need to consider this as their workers begin to return to the office. Tax and accounting firms need to invest in learning and development for their employees to retain talent and address succession issues. Learning a new software or process, for example, can be easier in a face-to-face atmosphere.

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