Thu.Jan 16, 2025

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The benefits of early e-filing for accountants

ThomsonReuters

Blog home A proactive approach to filing taxes not only streamlines the workflow but also offers benefits that can greatly improve both the accountant’s and client’s experience. By embracing early e-filing, accountants can avoid the stress and potential errors associated with last-minute submissions, ensure better data security, and ultimately provide more time for valuable advisory services that help clients achieve their financial goals.

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Employment outlook for 2025

TaxConnex

Finding qualified tax professionals is tough across all industries for a number of reasons. Whats working for and against your company as you work to find the folks to help with your sales tax compliance? First, realize that youre not alone. Even though overall employment is expected to hover around its current 4.2% for most of this year, unemployment among accountants has historically been less than half of that.

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How CFOs Can Foster a Culture Of Transparency in Financial Reporting

GrowthForceBlog

8 min read January 16th, 2024 As CFO, you hold a wealth of financial information, and it's up to you (and the executive team) to determine how much of your business's financial information you want to share with the rest of the company, and it's best not to hold all of your cards too close. Key Takeaways What Is Financial Transparency: The practice of being more open about a business's finances.

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The Key to SMB Success: Leveraging CFO Support Services

AccountingDepartment

In today's ever-changing business environment, having a solid financial strategy is crucial for achieving success. But what if your small or medium-sized business (SMB) can't afford to hire a full-time financial executive? That's where CFO support services come ina revolutionary solution for SMBs and startups. This blog explores what a CFO support service provider is, the significant value they offer, and why your business might benefit from their expertise.

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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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Why Project Management Is Non-Negotiable: 10 Key Reasons to Avoid Chaos and Ensure Success

Withum

Imagine your organization is engaged in multiple projects each with its own objectives, deadlines and stakeholders. Now, picture this firm without any form of project management. Why project management, you ask? Projects begin with excitement but soon, confusion reigns. Deadlines are missed, budgets spiral out of control and your stakeholders are frustrated.

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New Combined User Interface Email Causing Confusion with Accounting Pros as Tax Season Begins

SchoolofBookkeeping

Exploring the Future of QuickBooks Online: A Sneak Peek at the New User Interface Test In the ever-evolving world of business solutions, Intuit is taking a bold step forward by integrating the powerful capabilities of QuickBooks Online and Mailchimp. This integration aims to enhance productivity and profitability for businesses by delivering a seamless platform experience.

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How to avoid Self Assessment penalties

Accounting Insight

Do you feel ready to do your Self Assessment tax return with a smile this year? If youre worried about missing a deadline, youre not alone! In this guide, we cover the penalties for filing or paying your Self Assessment late , plus easy tips to avoid them. From April 2024, taxpayers voluntarily joining MTD for ITSA has a new set of penalties for missing deadlines.

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Grassi Joins Global Accounting Alliance That Sounds Like Something Out of Step Brothers

Going Concern

Announced today , New York-based Grassi (IPA Top 100 #56 with $132.6 million in revenue) has joined the accounting and advisory association PrimeGlobal. They join other 2024 Accounting Today Top 100 firms like Carr, Riggs & Ingram (24), Sikich (27), Katz, Sapper & Miller (49), Berkowitz Pollack Brant Advisors + CPAs (51), Schneider Downs (61), Pinion (67), SingerLewak (69), Lutz (78), HoganTaylor (81), Krost (82), Haynie & Co. (85) and AAFCPAs (93).

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Case Study: Building Trust in Fintech – How SOC 2 Compliance Transformed a SaaS Platform Provider

Withum

Download a PDF of this case study. Executive Summary A Software-as-a-Service (SaaS) provider, sought to enhance its data security and compliance posture to provide a competitive advantage for prospects, and to meet their clients demands and their own regulatory requirements. By implementing SOC 2 reporting, the company aimed to demonstrate its commitment to security, availability, and confidentiality to both existing and prospective stakeholders.

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Disaster Tax Relief for Southern California Wildfire and Wind Disaster Victims

LSLCPAs

The IRS has announced disaster tax relief for individuals and businesses in Southern California impacted by wildfires and straight-line winds beginning January 7, 2025. Taxpayers that have been impacted now have until October 15, 2025, to file various federal tax returns and make payments. Who Qualifies for Disaster Tax Relief? This relief applies to areas.

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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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Guiding clients through the tax implications of a divorce

Accounting Today

The emotionally and financially taxing process of a separation demands careful planning, multifaceted form-filing to the IRS and, probably, an advisor for each spouse.

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IRS to Pilot Changes to Alternative Dispute Resolution Programs

CPA Practice

The initiative focuses on changes to the existing Fast-Track Settlement (FTS) and Post-Appeals Mediation programs, and introduces a third pilot, Last Chance FTS.

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Tax Fraud Blotter: Blessed is the weed

Accounting Today

Not so Fussy; that's a wrap; at sea, in the air and on the road; and other highlights of recent tax cases.

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High Number of Shoppers Committed First-Party Fraud Over the 2024 Holiday Shopping Season

CPA Practice

First-partyfraud, sometimes referred to as friendlyfraud, occurs when consumers exploit return and refund policies for financial gain.

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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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Massachusetts CPAs eye recruitment and retention concerns

Accounting Today

The Massachusetts Society of CPAs released a report on key trends and concerns in the accounting profession based on a recent survey.

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Bipartisan Policy Center Offers Legislative Options for Small Business Growth

CPA Practice

A newreportfrom Goldman Sachs10,000 Small Businesses Voicesand the Bipartisan Policy Center offers an actionable playbook to help grow the U.S. economy by tackling the most pressing challenges faced by our nations small businesses.

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IIA Global Internal Audit Standards take effect

Accounting Today

The Institute of Internal Auditors announced that its Global Internal Audit Standards officially became effective on Jan. 9.

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2025 Intuit QuickBooks Small Business Annual Report Offers Many Advisory Opportunities for Accountants

CPA Practice

This years report provides valuable insights for businesses and offers guidance to help you set your clients up for success.

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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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IRS offers guidance on family and medical leave programs

Accounting Today

The IRS released guidance on the income and employment tax treatment of contributions and benefits offered under state paid family and medical leave programs.

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Swap and Avalara Partner to Simplify Cross-Border Retail Sales

CPA Practice

The integrated offering from Swap and Avalara reduces cross-border complexity and compliance risk and ensures duties, taxes, and fees are paid at checkpoints to improve cart conversion in more marketplaces.

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PCAOB fines firm $65K for audit deficiencies

Accounting Today

The Public Company Accounting Oversight Board revoked SS Accounting and Auditing's registration and barred its owner and sole partner for violating rules and quality control standards.

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Tech CFOs Focused on Culture, According to Grant Thornton Survey

CPA Practice

The survey showed that organizational culture has surged as the top human capital priority, with 58% of tech finance leaders now placing it at the forefront up from45% in last years survey.

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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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GOP lawmakers reintroduce bill to repeal CTA

Accounting Today

Sen. Tommy Tuberville and Rep. Warren Davidson reintroduced legislation to repeal the Corporate Transparency Act and its beneficial ownership information reporting.

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Clarus Partners Advisors Launches AkuCalc, Simplifying Sales Tax Calculations for Businesses

CPA Practice

AkuCalc is part of AkuSuite, a suite of tax software solutions created and serviced by indirect tax professionals. AkuSuite also includes AkuCert for exemption certificate management and AkuLicense for business license compliance.

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By the numbers: Growth in CAS, IRS Criminal Investigation

Accounting Today

The latest data on revenue growth for CAS practices, statistics from IRS Criminal Investigation for the full year of 2024, and other major metrics.

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SEC Sues Elon Musk Over Stock Ownership Disclosures

CPA Practice

The regulator has been probing Musks investment in Twitter since 2022, pressing him to him to explain why he hadnt disclosed his stake in Twitter within the correct timeline.

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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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PCAOB puts focus on journal entries

Accounting Today

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries.

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AICPA Updates Its Digital Assets Practice Aid

CPA Practice

The practice aid offers a new definition for digital assets, new and amended accounting questions, and the introduction of new terms.

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GBQ acquires Wirth Lowe Wissemeier

Accounting Today

GBQ Partners LLC, a Top 100 Firm based in Columbus, Ohio, has expanded its presence in Cincinnati by acquiring Wirth Lowe Wissemeier CPAs Inc., effective Dec. 16, 2024.

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Withum Leads in IPO Audit Clients for Q3 of 2024

CPA Practice

After tying PwC for the lead in the second quarter of 2024, top 25 accounting firm Withum was alone at the top of the initial public offering auditor market share standings in Q3 with 11 audit clients that went public, according to Audit Analytics.

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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.