Wed.Jan 29, 2025

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Pieces of the 2025 tax reform puzzle

ThomsonReuters

I often tell others that tax reform is like assembling a complex jigsaw puzzle. Although you start with the final image in mind, youre not sure how the various pieces fit together. Should you build the puzzle from the middle out, or is it better to focus on the edges and work toward the middle? And what if a piece is missing? Is an almost complete puzzle better than no puzzle at all?

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Utilizing FP&A for More Effective Financial Planning

AccountingDepartment

For any business owner, prioritizing the companys future is essential. Financial planning plays a crucial role in this, enabling business owners to drive growth and broaden their operations. If a business owner hasnt focused on this aspect, they need to understand what it is, what it does, and how it differs from regular accounting. What Is FP&A?

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Rupert Murdoch tests how irrevocable a trust can be

Accounting Today

The media mogul is in court to allow him to change the terms of a trust but it's not that easy.

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My Teaching Method

Withum

I have been teaching college as an adjunct since 1976, though not consecutively. I have taught fourteen different courses at three universities (and taught most of these courses multiple times). Additionally, I received an innovative teaching award, so I could consider myself an experienced educator. Now to my point. Textbooks Versus Projects Versus Real-World Situations There are many different teaching methods.

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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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Archeologists uncover tax fraud in ancient Rome

Accounting Today

Court documents from an ancient tax fraud and forgery case show that tax evasion was an issue even 2,000 years ago.

Tax 122
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Social Security Raises Payments, But Fairness Act Implementation Lags

CPA Practice

If those with public pensions like teachers, police officers and firefighters are counting on a Social Security payment following the enactment of the Social Security Fairness Act, that's going to be a whilereportedly a year.

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2 in 5 Americans in a Relationship Have Kept a Financial Secret From Their Partner, Survey Finds

CPA Practice

Many Americans in committed relationships keep financial secrets. Here's what they're hiding and how couples manage their bank accounts, according to Bankrate.

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IRS reduces wait times for some identity theft victims

Accounting Today

The Internal Revenue Service is making progress on whittling down the amount of time it takes to help victims of tax-related identity theft.

Tax 80
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Technology Solutions for FASB ASU 2023-09 Compliance

CPA Practice

Three ways tax provision software can help organizations comply with FASB's standard on income tax disclosure requirements and five key factors to consider when choosing a solution.

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Tax Strategy: Developments in the taxation of digital assets

Accounting Today

Inside the IRS's recent focus on broker reporting of digital asset transactions and the Form 1099-DA.

Tax 73
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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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Rightworks to Host RightNOW 2025 Event This May in Nashville

CPA Practice

Geared toward accounting firm leaders, firm staff, tax practitioners, and small and midsized business finance professionals, RightNOW 2025 will be held from May 19-21 in Nashville.

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Leadership transitions: A chance for change

Accounting Today

A change in command is a natural time for firms and their leaders to take stock of where they are, and to consider new directions, new ideas and new approaches.

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Summarizing the 2025 Acumatica Summit

Insightful Accountant

Murph wraps up his Las Vegas reporting from this years Acumatica Summit with a summary of what hes learned.

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Convicted hedge fund trader wins cut in prison term in tax scandal case

Accounting Today

The massive scandal cost Denmark's treasury a total of 12.7 billion kroner ($1.8 billion).

Tax 64
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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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How to Handle an Upset Client

Ryan Lazanis

Every firm will have unhappy clients. Discover quick and effective ways to turn situations around and keep clients happy. The post How to Handle an Upset Client appeared first on Future Firm.

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Multi-entity complexity and family office clients

Accounting Today

For accountants with clients with multiple entities, one of the biggest bottlenecks is in multi-entity consolidation, especially family offices. How can you, as their trusted advisor, help combat the issue?

Account 64
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IRS Adds 18 New Members to Internal Revenue Service Advisory Council for 2025

CPA Practice

Established in 1953, the IRSAC is an organized public forum for IRS officials and representatives of the public to discuss a broad range of issues in tax administration.

Tax 52
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It's time to modernize the painfully obsolete $150K PAL threshold

Accounting Today

While other parts of the Tax Code are updated routinely, the passive activity threshold threshold has stayed frozen in time, punishing hardworking Americans.

Tax 53
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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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Marsico Financial Group Adds Care Accounting in Pennsylvania

CPA Practice

Pittsburgh-area accounting and financial advisory services firm Marsico Financial has acquired Care Accounting, a firm based in Beaver Falls, PA.

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Power BI Planning and Forecasting: A Guide to Smarter Business Decisions

Acterys

Staying ahead in business means making data-driven decisions quickly and confidently. Microsoft Power BI has become a go-to business intelligence tool, empowering organizations to create dynamic reports and analyze historical data. But did you know Power BI also excels as a platform for planning and forecasting? This guide explores Power BI planning and forecasting capabilities, offering insights into implementation, best practices, and considerations for achieving accurate forecasting with ease

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Ignition Names New CEO and CFO

CPA Practice

The company said Jan. 28 that it has appointed former president Greg Strickland as CEO, succeeding Guy Pearson who transitioned to executive chairman, and Amy Foo as CFO.

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Must-Have Tools Your Skagit County Small Business Needs To Stay Ahead in 2025

SkagitCountyTaxServices

There are so many deadlines and requirements for business owners to keep up with right now. I feel your pain. Are you doing okay with staying on top of them (or at least keeping your head above water)? Obviously, the big one happening right now is tax season (which is open this week, as of January 27th). But you may also need to allocate some of your attention to your 2021 tax return if you claimed the Employee Retention Credit for that year.

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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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FASB Names Four New Not-for-Profit Advisory Committee Members

CPA Practice

As a resource for the Financial Accounting Standards Board, the NAC obtains input from the not-for-profit sector on existing financial reporting guidance, current and proposed technical agenda projects, and longer-term or pervasive financial reporting matters affecting those organizations.

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KPMG UK Partners Discover Layoffs Are the Secret to Record Payouts

Going Concern

Going Concern is often accused of sensationalizing in headlines and it’s a completely valid criticism because yeah, that makes for funny stuff (it’s really not that serious, you guys). Some of the time the criticism is valid. In the case of this article, we’ve simply reworked the headline from a story published today in The Telegraph.

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Alinea CPAs Acquires Matthew P. Roth and Co. in Ohio

CPA Practice

The acquisition is part of Dayton, OH-based Alinea CPAs' strategic plan to strengthen its private company practice in the Cincinnati area.

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Anders Managing Partner Robert Minkler Honored as a 2025 St. Louis Titan 100

Anders CPA

Managing Partner Robert Minkler, Jr. has been selected as a 2025 St. Louis Titan 100, a prominent recognition of the regions most influential business leaders. The national award celebrates C-level executives from eight distinct regions who are distinguished and preeminent in their industry. Award winners are chosen based on exceptional leadership, vision, passion and influence.

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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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Dalton Knecht: Turning a Draft Setback Into a Financial Advantage

Withum

Dalton Knecht emerged as one of the superstars from the March Madness tournament. The former SEC Player of the Year was projected to be a top 10 pick in this years NBA draft. Knecht even worked out with the Portland Trail Blazers, who held the 7th pick and considered selecting him. However, they ultimately chose Donovan Clingan from Connecticut. Despite his high projections, Knecht fell to the Los Angeles Lakers with the 17th overall pick, leaving many wondering why he dropped so low.

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Empowering tax leaders: A checklist for early digital transformation involvement

ThomsonReuters

As a tax leader, seize the opportunity to shape your organization’s digital transformation from the ground up. By involving your tax department from the very beginning, you can significantly boost the success and efficiency of these initiatives. This proactive approach fosters a more integrated, compliant, and strategic transformation, ultimately driving greater value for your organization.

Tax 52
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2025 Tech Company Tax Tips: Deadlines to Know

Shay CPA

Financially speaking, these are uncertain times for businesses across the U.S. As the new administration ramps up, many folks are speculating about whether the Tax Cuts & Jobs Act (TCJA) will expire later this year or get an extension. Talks of tariffs are adding another layer of ambiguity. It might feel like theres a lot of shifting sand under your feet.

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Bessent sworn in as 79th Treasury Secretary

Accounting Today

Bessent is expected to be a key advocate for the Trump administration's much-anticipated tax cut package.

Tax 59
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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.