Wed.Mar 26, 2025

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The 5 Biggest Surprises About Owning a CPA Firm

Canopy Accounting

I love owning a CPA firm, but Id be lying if I said everything about my world today is exactly as I expected it to be. Here are the 5 biggest surprises Ive discovered (so far) during the process of transitioning from accountant to owner.

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Why Real-Time Financial Reporting is Essential for Your Business

AccountingDepartment

Financial reporting has long been a fundamental component of successful business management. It serves as the blueprint for decision-making, reveals opportunities, and identifies risks. Yet, in a rapidly changing economic environment, depending only on monthly or quarterly financial statements is gradually becoming outdated.

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Expert insights on payroll data security and tax scams in 2025

ThomsonReuters

Businesses continue to face serious cyber threats that target payroll and tax information. As scams become more common, it is important for companies to protect sensitive data and stay compliant with regulations to better secure their payroll processes and reduce risks. Cliff Steinhauer, Director of Information Security and Engagement at The National Cybersecurity Alliance (NCA), recently highlighted the importance of recognizing common payroll-related tax scams, understanding the evolution of d

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Shutting Down Your Tech Company? Take These 5 Steps

Shay CPA

Deciding to close down operations at a company you founded is never easy. This venture represents a lot of time, energy, and money. Shutting it down can feel like a major loss. At the same time, though, it might come with some measure of relief. By the time youre deciding to close up shop, youve probably had some difficult months or even years. Youve felt your runway slipping away and you might be, in some ways, ready to end this chapter.

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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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Beyond the bottom line: How FinOps turns finance leaders into innovation drivers

Accounting Insight

The rise of cloud computing has transformed how businesses operate, offering scalability, flexibility, and innovation at an unprecedented pace. However, for finance leaders, this shift presents a challenge: how to manage unpredictable cloud costs while ensuring financial discipline and strategic investment. Enter FinOps (Financial Operations) a cloud financial management discipline that helps businesses maximise the value of their cloud investments.

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IRS gives new guidance for scam victims to deduct theft losses

Accounting Today

Taxpayers that suffer a smaller loss might not have the sophistication to know that they could be entitled to take a theft loss deduction, warns one expert.

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Hawaii to Charge EVs a Road Usage Tax Starting July 1

CPA Practice

Revenue generated by Hawaiis gas taxes is declining because more Hawaiians are driving electric and hybrid vehicles. The RUC isdesigned to providefair, long-term, sustainable funding for Hawaiis roads, according to the Department of Transportation.

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Now EY Is Talking About Mercilessly Consolidating Its Global Units

Going Concern

It’s not often we get to say Deloitte, EY, or PwC are following in KPMG’s footsteps but here we are. The phrase of the day is “global reorganization” and we should all be asking wtf is happening when two Big 4 firms are talking about doing it. In KPMG’s case, high level discussions are being had about merging together dozens of independent KPMG entities to “boost growth and prevent audit scandals” (per a FT source).

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Extend Announces Referral Agreement with Visa for Virtual Cards for the Middle Market

CPA Practice

Extends solution enables what Visa defines as emerging middle-market companies to manage spending with the power of virtual cards to increase controls, fight fraud, and close their books faster.

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Treasury publishes rule narrowing BOI reporting

Accounting Today

The Treasury Department limited the scope of the Corporate Transparency Act's beneficial ownership reporting requirement to foreign companies.

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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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IRS-CI Has Kept Busy Investigating COVID, ERC Fraud Cases

CPA Practice

The IRS Criminal Investigation unit has launched 2,039 tax and money laundering cases related to COVID fraud, with attempted fraud in these cases totaling $10 billion, since the CARES Act was signed into law in March 2020.

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What To Include in Your 3-Tiered Packages

Ryan Lazanis

My favorite way to standardize services and make scaling easier is 3-tiered pricing. Here's what to include in each tier. The post What To Include in Your 3-Tiered Packages appeared first on Future Firm.

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Sage Opens New North American HQ in Atlanta

CPA Practice

The new office marks a significant milestone in the companys long-term investment in the region, reflecting its commitment to innovation, job creation, and community engagement.

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IRS criminal investigators crack down on COVID and ERC fraud

Accounting Today

The Internal Revenue Service's Criminal Investigation unit launched 2,039 tax and money laundering cases related to COVID fraud over the past five years.

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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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South Carolina Treasurer Accused of Violating Federal, State Law in Scathing Report on $1.8B Accounting Error

CPA Practice

In a scathing report into the $1.8 billion accounting error where a South Carolina Senate Finance panel recommended removal of Treasurer Curtis Loftis, senators alleged the treasurer is in violation of federal law.

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Spring Statement 2025 Commentary: Property & Construction

Menzies

Menzies LLP - A leading chartered accountancy firm. Overview The Government has announced a series of policy and funding reforms aimed at increasing housebuilding and strengthening skills within the construction sector, in a bid to support economic growth and meet long-term infrastructure demands. National Planning Policy Framework Reforms Reforms of the National Planning Policy Framework (NPPF) were announced in December 2024 with the aim of increasing housebuilding in England.

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ION Partners with Avalara to Tackle Tax Compliance Risks in Energy Trading

CPA Practice

The integration will offer energy companies an automated, more accurate, and scalable tax compliance solution, enabling real-time tax calculation, reducing reliance on manual processes, and minimizing errors.

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Spring Forecast 2025 Commentary: Property & Construction

Menzies

Menzies LLP - A leading chartered accountancy firm. Overview The Government has announced a series of policy and funding reforms aimed at increasing housebuilding and strengthening skills within the construction sector, in a bid to support economic growth and meet long-term infrastructure demands. National Planning Policy Framework Reforms Reforms of the National Planning Policy Framework (NPPF) were announced in December 2024 with the aim of increasing housebuilding in England.

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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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Taxpayers want Direct File, but relatively few have used it

Accounting Today

The Internal Revenue Service's Direct File program is attracting interest this tax season, but lack of familiarity and budget cuts at the IRS may doom it.

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Sage and Village Capital Unveil First Cohort of Companies Chosen for Impact Entrepreneurship Program

CPA Practice

The program is a three-year initiative that will support 165 entrepreneurs across Southern Europe, the UK, and the US who are making a positive environmental, social, and economic impact in their communities.

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AI dreams running into AI realities, says survey

Accounting Today

A recent survey from Gartner has found traditional AI and generative AI are not significantly more likely to report high productivity gains versus other innovations like RPA or blockchain.

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AICPA and CalCPA Ask for Clarification on California Climate Risk Rules

CPA Practice

The American Institute of CPAs and CalCPA, Californias state society of CPAs, recently filed a joint comment letter to the California Air Resources Board recommending clarifications to Californias climate risk disclosure rules.

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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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AICPA, CalCPA want more clarity on California climate rules

Accounting Today

The CPA organizations sent a joint comment letter to the California Air Resources Board asking for changes in the state's climate risk disclosure rules.

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Fieldguide Launches Fieldguide Agents

CPA Practice

Field Agents gives professionals more capacity to apply their uniquely human skills, such as analyzing complex insights, delivering strategic recommendations, and building stronger client partnerships.

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CFA Institute calls for better disclosures of intangible assets

Accounting Today

The CFA Institute is urging accounting standard-setters to require more detailed disclosures of intangible assets before they're recognized on the balance sheet.

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Lili Launches International Payments System

CPA Practice

Lili, a financial platform designed for small business owners, today announced the launch of international wire payments in 27 countries, empowering small business owners to grow beyond borders.

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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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Chancellor delivers security and national renewal in a new era of global change

Accounting Insight

People to be on average 500 a year better off by the end of this parliament compared to under the previous government, putting more money in peoples pockets. OBR forecast concludes governments landmark planning reforms will result in a 6.8 billion boost to the economy and housebuilding at its highest level in over 40 years by 2029-30. Growth at the heart of Plan for Change as 13 billion of additional capital spend allocated alongside 2.2 billion defence funding boost next year.

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13 Signs That It’s Time To Upgrade Your Endpoint Security Solution

Ace Cloud Hosting

Endpoint security is a critical aspect of any modern organization’s cybersecurity framework. With increasingly sophisticated cyber threats, relying on outdated or inadequate solutions can leave your business vulnerable. Regularly assessing.

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How to NetSuite - New Manufacturing Operation Types

Insightful Accountant

NetSuite has added several new manufacturing operation task types with or without specified lag times as part of their 2025.1 release. Murph has graphed them out in this feature to 'show off' these new capabilities.

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French tax authorities use AI to clamp down on fraud

Accounting Today

The French government is deploying increasingly aggressive methods to uncover tax fraud.

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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.