Fri.Mar 28, 2025

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The Inventory Loophole: Using the Cash Method of Accounting Toward Tax Savings, Part 2

CTP

The world of small business tax deductions looked very different before and after the Tax Cuts and Jobs Act (TCJA) of 2017. A number of the changes introduced through TCJA permanently shifted which businesses were eligible for which types of deductions. One important shift involved new rules around methods of accounting. TCJA widened eligibility for using the cash method of accountinga simpler method that allows businesses to report income in the tax year they receive it and deduct expenses in t

Tax 52
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Aprio and RSM US Make a Deal

CPA Practice

Top 30 firm Aprio and top five firm RSM US have reached an agreement for Aprio to acquire RSM's Professional Services+ practice operating in the U.S. andCanada.

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IRS leverages banking data for criminal investigations

Accounting Today

The Internal Revenue Service's Criminal Investigation unit has a new initiative for engaging with financial institutions to uncover tax and financial fraud.

Tax 102
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What is the Average Salary in Your State?

CPA Practice

According to a recent study from SoFi, which looked at the highest-paying states in the country, employees in 12 locationsincluding Massachusetts, California, Connecticut, and Marylandearn significantly more than the national average salary.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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On the move: Weaver hires energy compliance director

Accounting Today

FASB appoints new members to Public Markets Advisory Committee; WilliamsMarston launches podcast; and more news from across the profession.

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U.S. Population Could Shrink by 2030, Says Report

CPA Practice

Gross domestic product is forecast to increase at an average rate of 1.6% over the next 30 years, compared with the 2.

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More Trending

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Consumer Spending Barely Rises, While Inflation Risk Rises

CPA Practice

Consumer spending was weaker than expected again in February while a key inflation metric picked up, in a double whammy for the economy before the brunt of tariffs.

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From CPA to Tech Innovator: Hector Garcia on Right Tool, Reframe, and Future of Accounting

Insightful Accountant

In this episode of the Accounting Insiders Podcast, host Gary DeHart sits down with Hector Garcia, CPA, to explore his journey from running a successful accounting firm to becoming a tech entrepreneur and thought leader in the profession.

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AICPA Seeks Feedback on 2026-30 Strategic Priorities for Standard-Setting Panel

CPA Practice

The Auditing Standards Board issues standards for auditing private companies, quality management standards for practitioners providing audit and attest services to private companies, and attestation standards.

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Common – and Avoidable – Mistakes in IOLTA Trust Account Management 

Anders CPA

Legal accounting can be a complex and challenging area, particularly when it comes to managing Lawyer Trust Accounts (IOLTA). With strict ethical guidelines and legal limitations governing these accounts, mismanagement can have severe consequences, ranging from a reprimand to disbarment. However, by understanding the regulations that define and govern IOLTA accounting, you can minimize the risk of compliance issues and avoid common pitfalls.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Bank Secrecy Act Data Key to IRS-CI Cracking Many Financial Crime Cases

CPA Practice

The IRS Criminal Investigation unit released new statistics on March 28 highlighting how the agency has investigated financial crimes using Bank Secrecy Act data.

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Dylan Robinson, Manager, Award Winner

DMCL

Were proud to share that Dylan Robinson, CPA, Manager , has been selected as a recipient of the 2025 Moore North America Emerging Leader Award! Dylan is one of just five professionals across the Moore North America network to receive this years award, which recognizes rising leaders who demonstrate excellence in client service, mentorship, and community impact.

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Tech Essentials for Family Practice CPAs – The Accounting Technology Lab Podcast – March 2025

CPA Practice

In this video and podcast, Randy Johnston and Brian Tankersley, CPA, discuss the fundamentals of the technology needed to efficiently run a family tax and accounting practice. Watch the video, listen to the audio podcast below, or read the transcript.

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Tax departments can avoid mistakes ahead of the TCJA sunset

Accounting Today

As the expiration of key Tax Cuts and Jobs Act provisions looms, tax professionals are preparing for what could be another period of upheaval.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Liz Scott's Free Monthly Bookkeeping Checklist for Accountants

Canopy Accounting

Hey there, accounting leaders! I'm Liz Scott , an expert in accounting technology and workflow optimization. Lets talk about something that might not sound thrilling at first but can be a game-changer for your firmmonthly bookkeeping! (Yep, you heard that right.

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Aprio to acquire RSM's professional services practice

Accounting Today

The PS+ practice serves nearly 80 firms across the U.S. and Canada.

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Price Increase Letter for Accounting Services (Template)

Ryan Lazanis

Get a free price increase letter that will help you boost your firm's revenue, plus tips to increase the odds clients will say "yes." The post Price Increase Letter for Accounting Services (Template) appeared first on Future Firm.

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Reconstructing Books and Records For a Tax Audit

FraudFiles

You are being audited. These are some of the most dreaded words an individual or business will ever hear from a state or federal tax auditor. They invoke fear, panic, and sometimes anger. Most of all, they create a need for documentation. Every number could be scrutinized. That means documentation must be produced to support [.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Pick your firm's culture

Accounting Today

If your culture is based on being able to walk down the hall to ask a question, you don't have much of a culture or, at least, not much of an intentional culture.

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Social Security Delays, Tweaks New In-Person ID Check Requirements

CPA Practice

After facing backlash for a plan to require in-person identity checks for millions of Americans to receive their much-needed monthly benefits, theSocial Security Administrationhas altered and delayed the controversial policy change.

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SEC stops defending climate disclosure rule

Accounting Today

The Securities and Exchange Commission voted to end its defense of the climate-related disclosure rule it approved last year under the Biden administration.

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Transforming Your Construction Team Through Support And Collaboration

Randal DeHart

Being a construction manager and a business owner requires a unique blend of skills and attributes essential for effectively leading a crew. Leadership is at the forefront of this role, as a construction manager must inspire and motivate their team to achieve project goals while maintaining safety and quality standards. This involves clear communication, conflict resolution, and a collaborative team environment.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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GOP Embraces Atkins for SEC Chair, While Dems Doubt His Judgment

CPA Practice

Senate Banking Republicans are looking forward to Paul Atkins changing how the SEC works, while Democrats question his record.

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Senators seek to modify tax plan to require fewer Medicaid cuts

Accounting Today

Fiscal conservatives in the party want steep spending cuts to help offset the multitrillion-dollar tax-cut package.

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Can You Believe This Accounting Firm Raided By Police Wasn’t Paperless??

Going Concern

51 Thais and 21 Chinese nationals working at an unnamed accounting firm in Bang Phli Yai, a modestly sized district on the eastern side of Bangkok, have been arrested for what appears to be an scheme to register Thais as owners of businesses not actually owned by Thais to skirt around Foreign Business Act rules that bar foreign owners. OK but it wasn’t just that.

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Accounting students can look forward to vital careers

Accounting Today

The reasons why accounting is a fascinating major go beyond mere security. Within the field, a transformation is underway.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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Celebrating Success: Jordan Wood is promoted to Partner at Wellers

Wellers Accounting

Simon Smith FCCA shares the exciting news of Jordan Wood becoming a partner at the firm.

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The Inventory Loophole: Using the Books and Records Method

CTP

With their smaller margins and limited resources, most small businesses will take any money-saving opportunity they can (lawfully) get. The Tax Cuts and Jobs Act (TCJA) introduced a number of provisions that reduced taxes for many small businesses. Some provisions are currently scheduled to expire at the end of 2025, but others are considered permanent and could be factored into your business next tax plan.

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Interested in integrating examples of ESG into your accounting course?

Wendy Tietz

This week, Im giving a presentation on ways to integrate ESG into introductory accounting at the AAAs Sustainability in Accounting conference. I thought Id share one of the resources I developed for that presentation here on my blog.

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How does company car tax work?

Wellers Accounting

Jack Fowler FCCA explains and compares company car tax rates between electric, hybrid, and petrol vehicles.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.