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?

Tax 90
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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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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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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.

Legal 123
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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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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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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

More Trending

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Are Employee Wages Tax Deductible If You’re a Sole Proprietor?

Patriot Software

Small business tax deductions provide a great way for business owners to offset expenses and lower tax bills. And in business, expensesespecially your employees on payrolladd up quickly. Are employee wages tax deductible? If youre a sole proprietor or single-member LLC who files Schedule C, read on.

Tax 85
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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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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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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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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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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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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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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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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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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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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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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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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?

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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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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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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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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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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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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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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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Trump freeze targets Biden's green bank, EV tax credits and more

Accounting Today

A $400 billion green bank for clean energy projects and a consumer tax credit for electric vehicles are being reviewed under a government-wide spending freeze.

Tax 45
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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.

cpas 40
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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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Trump Offers Buyouts to Federal Employees Resisting In-Person Work

CPA Practice

The buyouts, which will run throughSept. 30as long as the employees resign byFeb. 6, were offered in an email to federal employees that also warned the administration was seeking a more streamlined and flexible workforce.

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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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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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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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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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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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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.