Mon.Feb 24, 2025

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Accrual vs. Cash-basis Accounting: A Comparison

Patriot Software

Business owners have a lot of decisions to make, especially in the beginning. One of the most important decisions is how to handle bookkeeping for your business. There are three methods of accounting to choose from: Cash-basis, modified cash-basis, and accrual accounting. The two methods that differ the most are accrual and cash-basis accounting.

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Ethical Issues for the Modern Tax Practice: The Role of Remote Work

CTP

The rise of remote work has impacted the majority of industries across the U.S. The Bureau of Labor Statistics found that between 2019 and 2021 the percentage of remote workers rose from less than 17% to over 39% among professional, scientific, and technical servicesincluding tax professionals. Adopting remote working practices comes with both advantages and disadvantages: how can you communicate well across geographies and time zones and make sure the client gets the best product?

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Here’s How Many Hours Accountants Are Saving With AI (Allegedly)

Going Concern

On average 56 minutes a day, or 18 hours a month , according to the 2025 State of AI in Accounting Report by Karbon. Who’s working just 18 days a month? Good for them. Karbon said: On average, accounting professionals save 56 minutes a day (a potential of 18 hours a month) with AI, with over a third (38%) of this time spent on communication tasks like drafting emails and managing correspondence.

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Musk's influence and new IRS bills could reshape tax season

Accounting Today

Time will tell how a federal hiring freeze, Elon Musk's push for efficiency and new tax-focused legislation will shape the path of the Internal Revenue Service.

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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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1099-K Tax Rules: What You Need to Know if You Get Paid Via Venmo, Cash App, or PayPal

CPA Practice

If you get paid through Venmo, PayPal, Cash App or another payment app, you may receive an IRS Form 1099-K this year. Here's what you need to know.

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Understanding Crypto Forensics

Withum

In this episode of Cryptonomix, Mark Eckerle sits down with Chris Groshong, President at CoinStructive.

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Taking the helm at the AICPA

Accounting Today

The new head of the AICPA, Mark Koziel, shares his thoughts about the profession, his plans for the organization, and more.

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AICPA Asks for Updated Language in Draft Publication 547 to Help Taxpayers Eligible for Disaster Tax Relief

CPA Practice

The AICPA cites the need for these updates to ease the confusion created by disaster relief due to the multiple deadlines for various actions necessary to be eligible for the qualified disaster loss.

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Anders Managing Partner Robert Minkler, Jr. Named to Inaugural St. Louis Business 500

Anders CPA

Anders Managing Partner Robert Minkler, Jr. has been named to St. Louis Magazines Business 500, a definitive guide to the regions most influential, impactful and innovative leaders. The list recognizes C-suite executives and emerging entrepreneurs across a wide range of industries. As part of the St. Louis Business 500, St. Louis Magazine also released Beyond the Bios , offering an in-depth look at these leaders aspirations, achievements, and interests beyond the workplace.

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DeSantis to Create Florida Version of DOGE to Audit Universities and Local Governments

CPA Practice

He proposed eliminating about 740 state jobs, while adding staff to other agencies in need of more people, such as the Department of Corrections.

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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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Berkshire Hathaway sets record with massive tax bill

Accounting Today

Warren Buffett said the company has paid the U.S. government more than $101 billion in taxes since he took the helm 60 years ago, more than any other company in history.

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These States Have the Highest Property Tax Rates

CPA Practice

WalletHub released a new study of the states with the highest property tax rates to give prospective homebuyers a better understanding of how much they can expect to pay each year.

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Practice Profile: Don't call it a 'tax season'

Accounting Today

Account Sense is fighting burnout with a different approach to scheduling during busy season and beyond.

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Average Tax Refund is Down 32%, IRS Data Shows

CPA Practice

A quick glance at the latest 2025 tax refund numbers may be cause for concern for those who havent filed yet, but the IRS says theres a good reason why certain numbers are down.

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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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Art of Accounting: Increasing fees to eliminate a shortfall

Accounting Today

The pricing of accounting services is a big concern and it should be.

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Sales Tax Trip Tuesday Time – February 2025

Insightful Accountant

"On the rail again and paying sales tax along the rail again" Did you catch that little change from the last time? Rail vs. Road! In this edition of Sales Tax Trip Tuesday we take our 'first ever' rail trip aboard the 'Rocky Mountaineer.

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Why Prioritizing Wellness This Tax Season is a Game Changer

Canopy Accounting

Join Amy Freshman (ADP) , Darren Root (Better Every Day) , and Nicole McMillan (Canopy) as they discuss practical strategies for accountants to maintain wellness, avoid burnout, and stay productive during the busiest time of the year.

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2025 ProAdvisor Awards 'Voting' Begins March 1

Insightful Accountant

Voting for both the U.S. and International ProAdvisor Awards will begin on Saturday, March 1, 2025 and continue through April 1st.

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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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New website aims to support emerging Section 351 ETF conversions

Accounting Today

As the tax deferral method grows in popularity, experts caution that the benefits come with important caveats for financial advisors to keep in mind.

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Let's All "Be Insightful" Tomorrow

Insightful Accountant

Join Murph, Gary and guest Kimberly Noh at tomorrow's "Be Insightful" webinar.

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Deloitte China names first local woman as CEO

Accounting Today

Dora Liu will become Deloitte China's new chief executive on June 1 for a four-year term.

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Sales Tax Trip Tuesday Time – February 2025

Insightful Accountant

"On the rail again and paying sales tax along the rail again" Did you catch that little change from the last time? Rail vs. Road! In this edition of Sales Tax Trip Tuesday we take our 'first ever' rail trip aboard the 'Rocky Mountaineer.

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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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The Role of AI in Modern Endpoint Security

Ace Cloud Hosting

In todays world of interconnectivity, the security landscape is more complex than ever. As organizations increasingly adopt cloud computing, remote work, and Bring Your Own Devices (BYOD) policies, endpoint security.

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House Republicans Advance $4.5T Tax Package Amid Budget Negotiations

Insightful Accountant

The House Budget Committee has voted along party lines (21-16) to advance a budget resolution that would allocate $4.5 trillion primarily for extending the 2017 Tax Cuts and Jobs Act (TCJA) provisions and implementing additional tax reforms.

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CBIZ CPAs readjusts after Marcum acquisition

Accounting Today

CBIZ and Mayer Hoffman McCann had been operating under an alternative practice structure long before many other firms began adopting one after a PE investment.

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Let's All "Be Insightful" Together

Insightful Accountant

Join Murph, Gary and guest Kimberly Noh for this week's "Be Insightful" webinar.

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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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Case Study: Driving Efficiency with Power Platform – A Fortune 500 Food Manufacturer’s Automation Revolution 

Withum

Migrating 40+ robotic process automations to Microsoft Power Platform for enhanced reliability and scalability. Executive Summary Building on established RPA automations, Fortune 500 food manufacturer undertook a significant project to migrate over 40 processes from a legacy automation platform to Microsoft Power Platform. This transition not only improved automation reliability and cost-effectiveness, but also allowed for broader employee participation in automation initiatives.

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Debunking workplace taboos: What you can really talk about at work

Reckon

Across businesses, there is an expectation that you conform in the workplace. This makes sense: work is work, everyone has a job to do. But what about topics or behaviours that are left unsaid or avoided? The workplace taboo can take many forms, and most of the time we know what they are and dont engage or participate in them. For example, committing crimes like assault or robbery will find you without a job and in jail.

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The Impact of ASU 2023-08 on Nonprofits: Accounting for and Disclosure of Crypto Assets

Withum

In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-08, significantly impacting how nonprofit organizations account for and disclose crypto assets. This update introduces new guidelines that require nonprofits to adapt their financial reporting practices to provide more accurate and transparent information.

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Thomson Reuters ONESOURCE: A tax technology solution for the modern IT professional

ThomsonReuters

In today’s digitally-driven world, businesses across all sectors undergo significant technological transformations. These changes, often involving transitions to cloud-based systems, are reshaping how core business functions operate, including taxation. For example, reduced IT maintenance can save businesses an average of $297k. IT professionals are essential to driving successful digital transformation across the indirect tax department.

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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.