Mon.Dec 23, 2024

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Avoid Holiday Accounting Pitfalls with Outsourced Bookkeeping

Basis 365

The holiday season is a time for businesses to capitalize on increased consumer spending, yet despite the cheery holiday decoration, this period can be rife with accounting challenges for businesses. From managing cash flow to preparing for year-end reporting, the pressure on your accounting needs can quickly escalate during the holidays. Lets take a look into why businesses struggle with their accounting during the holidays, the common mistakes they make, and how outsourced bookkeeping and outs

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From peers to pioneers: Leveraging Practice Forward’s support network for success

ThomsonReuters

Jump to Understanding the shift to advisory An introduction to Practice Forward Leveraging the Practice Forward community and resources A proven roadmap to stand out in a competitive market Advisory services represent a growing area of opportunity for accounting firms, driven by changing client demands for proactive, value-added tax guidance. Transitioning to an advisory-focused business model offers numerous benefits, including increased revenue, stronger client relationships, and a more fulfi

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The best and worst states for individual taxes in 2025

Accounting Today

From those with no individual income tax at all, to those with complex tax structures a guide to most and least competitive states when it comes to individual income taxes.

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Tax Professionals Subject to New Requirements Proposed By the IRS

CPA Practice

CPAs, enrolled agents, and other practitioners would have to maintain technological competency under proposed regulations issued by the Treasury Department and the IRS on Dec. 20, which would update Circular 230.

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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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Aiwyn raises $113M in funding

Accounting Today

The money will help it expand from payments and collections to a broader practice management platform, and to develop a tax solution.

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The Return to Work Controversy: What’s the Right Decision for Your Accounting Firm?

CPA Practice

If youve settled into a hybrid environment, you may hear some backlash, but you may also have some excited staff members who enjoy being in the office.

More Trending

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2025 Tax Refund Dates – Where’s My Refund, And When Will I Get It?

CPA Practice

Depending on when taxpayers file their returns, they can often receive their federal tax refund payment (check or direct deposit) within 10-21 days.

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IRS proposes new requirements for tax pros

Accounting Today

If enacted, the regs would require practitioners to maintain a certain level of technological competence, among other things.

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DSB Rock Island Merges in MFK CPAs

CPA Practice

After welcoming the MFK team, DSB Rock Island will have 110 employees, 16 partners and an estimated $31 million in revenue. This strategic transaction is part of long-term planning for both MFK and DSB Rock Island, according to firm leadership.

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AI Thought Leaders: Progress, promise and peril

Accounting Today

In this first of three parts of our second annual AI Thought Leaders Survey, our pool of experts share their take on the state of AI over the past year, for both good and ill.

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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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Platform Accounting Group Expands in Midwest

CPA Practice

Platform Accounting Group announced two more firms have joined the group. Based in Indiana and Illinois, the additions expand Platforms presence to the Midwest. Twelve firms have joined Platform this year, with a few more anticipated to join in January.

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Phony tax forms nail accountant for mortgage fraud

Accounting Today

A Washington, DC tax accountant pleaded guilty for submitting falsified documents in his application for a $1.4 million purchase loan, which he later received.

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Does Your Firm Have a Data Strategy?

CPA Practice

Data is at the core of incorporating AI and automation into your firms workflows. Without a deliberate data strategy, these initiatives can fall short.

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Art of Accounting: A template for hiring an experienced manager

Accounting Today

Firms that hire experienced people do not usually get what they expect or are paying for.

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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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CPE Webcast – Jan. 14, 2025: Amended Returns in Drake Software

CPA Practice

This webinar is designed for accountants using QuickBooks, Xero, or similar accounting software. Learn how Avalara integrates seamlessly with your existing tech stack, saving time, reducing costly errors, and hear firsthand from a firm that has supported clients through their tax compliance journey. Plus, earn CPE credit!

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Gain an entrepreneurial edge

Accounting Today

A bold mindset can help you move your accounting firm further.

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HubSync Releases 2024 Product Enhancements & New Features

CPA Practice

HubSync Co. has announced several new enhancements to its product suite. These new features focus on how firms manage tax and accounting processes, leveraging cutting-edge AI and user-centric design.

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Recommendations of 55th GST Council Meeting| Measures for Facilitation of Trade and Streamlining GST Compliances

VJM Global

55th GST Council meeting was held on 21st December, 2024 under the chairmanship of Union Minister of Finance and Corporate Affairs. The meeting was also attended by Union minister of different states. The GST Council made recommendations related to following matters: Changes in GST rates of Goods and Services; Clarification on GST Rates; Measures for facilitation of Trade; Measures for streamlining compliances under GST; Measures related to Law & Procedures Detailed discussions of recommenda

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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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CFPB Sues Walmart and Branch for Illegally Opening Deposit Accounts for More than a Million Spark Delivery Drivers

CPA Practice

Drivers had to follow a complex process to access their funds, and when they finally did, they faced further delays or fees if they needed to transfer the money they earned into an account of their choice.

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Recommendations of the 55th GST Council Meeting| Changes and Clarification on GST Rates

VJM Global

During the 55th GST Council meeting, held on 21st December 2024 under the chairmanship of the Union Minister of Finance and Corporate Affairs, The GST Council recommended a change in the rate of GST on various Goods and Services and clarified the applicability of GST rates on various items. Detailed discussions of recommendations made by the GST Council with respect to GST rate is as follows: 1.

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2025 ProAdvisor Application Process Remains Open

Insightful Accountant

Holiday Leave is the perfect time to 'apply for' (or complete) your 2025 ProAdvisor Awards. Remember, you only have until February 11, 2025 to get those applications in for awards.

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FASB Invites Comments on Intangibles

CPA Practice

The invitation to comment is intended to explore ways the FASB can improve this area of financial reporting, which includes the accounting for acquired and internally developed intangibles.

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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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New Pathways to CPA Licensure Address Industry Talent Shortage

Insightful Accountant

The accounting profession is undergoing significant changes in how it approaches CPA licensure, driven by an urgent need to attract new talent. Many view the traditional CPA path's return on time investment as insufficient.

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New Service Offerings to Grow Your Firm in 2025

CPA Practice

Some services are a natural fit for CPAs. And although they might not be a part of their expected line-up, they are so closely integrated in business operations that it would almost be a disservice not to offer them.

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Murph's Christmas Pudding Recipe

Insightful Accountant

Every few years, at the request of a few of our long-term readers, I republish my traditional English Christmas pudding recipe. So Happy Holidays!

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Bookkeeping Contract (Free Template + Instructions)

Ryan Lazanis

Clearly define services and timelines to deliver great results while enjoying more free time with our bookkeeping template and expert tips. The post Bookkeeping Contract (Free Template + Instructions) appeared first on Future Firm.

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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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Entergy Hit With $12 Million SEC Penalty for Violating Accounting Rules

CPA Practice

TheSECalleged that Entergy had inaccurate controls when recording materials and supplies, despite employees and management consultants flagging the issue.

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The Tax 3.0 Overhaul is Underway

Insightful Accountant

New technology is impacting the speed of adoption, simplifying workflows and changing how businesses get paid and interact with taxing authorities worldwide.

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Red Flags of Divorce Fraud

FraudFiles

The vast majority of family law cases are settled without trials. However, a client should not enter into a voluntary settlement if there are significant concerns about the truth of the financial disclosures and indications that assets or income may be hidden. The first step in determining whether a forensic accountant is needed to evaluate [.

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A Complete Guide to Intuit Enterprise Suite

Ace Cloud Hosting

The 2024 Intuit QuickBooks Business Solutions Survey reveals that 82% of mid-market businesses prioritize steady or fast growth. However, they struggle with inefficiencies from juggling an average of 10 software.

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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.