MyIRSRelief

FEBRUARY 21, 2025

Running a business in Los Angeles comes with its fair share of challenges, and one of the most daunting can be navigating the complexities of Californias Employment Development Department (EDD) payroll tax requirements. For business taxpayers facing EDD employment payroll tax controversies, the stakes are high. Unpaid back taxes, EDD audits, penalties, and unresolved tax issues can lead to financial strain, legal complications, and even the risk of business closure.

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GrowthForceBlog

FEBRUARY 21, 2025

8 min read February 21st, 2024 For many small and medium-sized enterprises (SMEs), the end of the fiscal year coincides with the end of the calendar year. This means it is time for financial leaders to begin closing the financial books. Key Takeaways Reconcile Transactions and Accounts: This step in the process can be tedious because you have to look through minute details while paying exceptional attention to detail.

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Randal DeHart

FEBRUARY 21, 2025

If you've been a long-time reader or a contracting company owner, you've probably heard about " Cost of Goods Sold " (COGS). But what does it really mean, and why is it crucial for your construction business's success? Understanding COGS isn't just about accountingit's about making smart decisions for profitability, pricing, and more. 1. What is the Cost of Goods Sold (COGS)?

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Withum

FEBRUARY 21, 2025

The regulatory landscape is constantly evolving, and cybersecurity is no exception. You may have heard that under the new administration, regulation was going to be reduced or that there was a pause in enforcement actions, e.g. FCPA. These pauses are temporary and intended for the agencies involved to revise their approach to be efficient and effective.

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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

Tax

Dent Moses

FEBRUARY 21, 2025

A recent court ruling means businesses must file their Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act (CTA). New Deadlines: Most businesses must file by March 21, 2025 , if you have not already filed. New businesses (formed on or after Feb. 18, 2025) must file within 30 days of creation. Businesses with disaster relief extensions should follow those specific deadlines.

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Accounting Today

FEBRUARY 21, 2025

A technical glitch prevented Internal Revenue Service officials from notifying laid-off employees by email, so the IRS will be sending them letters, instead.

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SchoolofBookkeeping

FEBRUARY 21, 2025

Introduction Welcome to another lively Workshop Wednesday where we engage in casual conversations about serious workflows. This week, we're diving into the pros and cons of using QuickBooks. QuickBooks and the Accountant Community Since the mid-2010s, QuickBooks has been a cornerstone for accountants, thanks to its robust features and comprehensive support network.

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Withum

FEBRUARY 21, 2025

The Housing Opportunity Through Modernization Act (HOTMA) was signed into law on July 29, 2016, amending many aspects of multifamily housing programs (as well as programs administered through the Offices of Public and Indian Housing and Community Planning and Development). The U.S. Department of Housing and Urban Development (HUD) did this in the interest of aligning its requirements across its programs or because the underlying program statute required HUD to make the revisions.

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CPA Practice

FEBRUARY 21, 2025

The Tax Blotter is a round-up of recent tax news briefs and tax court rulings.

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Dent Moses

FEBRUARY 21, 2025

This series is intended to cover the most common deductions. Please keep in mind that there are always exceptions; whats more, your situation or facts may be different from someone else. We recommend that you consult with your tax advisor before taking any action. Part 1: The Basics Part 2: Deductions and Medical Expenses Part 3: Deduction for Taxes Part 4: Deducting Mortgage Interest & Investment Interest Part 5: Contributions & Charitable Giving Part 6: Casualty & Theft Losses Part

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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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CPA Practice

FEBRUARY 21, 2025

Managing intercompany accounting for global or multi-entity companies is full of complexity, from regulatory compliance to financial risks.

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Accounting Today

FEBRUARY 21, 2025

Brown Plus appoints first information technology director; IFRS Foundation announces new Advisory Council chair; and more news from across the profession.

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CPA Practice

FEBRUARY 21, 2025

A program authorized through the Department of TreasurysBureau of the Fiscal Serviceallows for the reduction of your refund to pay down specific debts.

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Accounting Today

FEBRUARY 21, 2025

Our profession has withstood many sea changes and survived them and then some.

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accountant Account accounted 69

Advertiser: Paycor

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.

CPA Practice

FEBRUARY 21, 2025

There were five innovation themes that percolated to the top of my list, which I believe we will see integrated into products we use in our homes, and possibly our offices over the next few years.

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Accounting Today

FEBRUARY 21, 2025

Maureen Churgovich Dillmore will oversee the expansion of Ascend's growth platform for regional accounting firms into new U.S. markets, effective Feb. 17.

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Anders CPA

FEBRUARY 21, 2025

Digitization has revolutionized the Architecture, Engineering and Construction (AEC) industry. Collaboration between teams, vendors, contractors and partners is faster and more efficient than ever or, at least, it can be. For all the benefits of digitization removing burdensome paperwork and filing it has introduced new complications that can lead to process breakdowns and inconsistencies in your data.

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Accounting Today

FEBRUARY 21, 2025

To make artificial intelligence worthwhile as an accounting tool, companies must find ways to balance gains in efficiency with the ethical risks it presents.

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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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FraudFiles

FEBRUARY 21, 2025

Tracy talks about how experts use estimates when they calculate economic damages. Are you speculating or guessing? Or do you have a reasonable basis for your numbers?

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Accounting Today

FEBRUARY 21, 2025

Plus, Lili announces international payment solution; Foxit debuts new versions of desktop, PDF conversion products; and other accounting tech updates.

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Canopy Accounting

FEBRUARY 21, 2025

Traditionally, busy season in the accounting industry has been a time to cancel all personal plans, batten down the hatches, and grind through overtime until your family barely recognizes you, but with the right technology, guardrails, and strategic planning, it doesnt have to be.

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Accounting Today

FEBRUARY 21, 2025

Prosecutors and regulators are investigating a deal between CrowdStrike Holdings and a technology distributor to provide cybersecurity tools to the IRS.

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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.

Finance

Going Concern

FEBRUARY 21, 2025

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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accounting firms Technology Tax Account 52

Accounting Today

FEBRUARY 21, 2025

Cruise operators may yet avoid paying more U.S. corporate taxes despite threats from U.S. Commerce Secretary Howard Lutnick to close favorable loopholes.

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CPA Practice

FEBRUARY 21, 2025

The Alliance for Retired Americans leader Richard Fiesta released the following statement on the chaos created by the Trump Administration at the Social Security Administration.

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Accounting Today

FEBRUARY 21, 2025

President Trump is expected to sign a memorandum that opens the door to levies in response to digital services taxes some countries impose on U.S. tech giants.

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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.

Finance

Going Concern

FEBRUARY 21, 2025

Last week, Deloitte US told government-facing staff to remove pronouns from their email signatures in reaction to the Ending Radical And Wasteful Government DEI Programs And Preferencing executive order signed by President Trump on January 20. Now KPMG, a small potatoes federal contractor compared to Deloitte, is doing a little diversity, equity, and inclusion housekeeping of its own according to Financial Times.

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Accounting Today

FEBRUARY 21, 2025

Trump needs as much revenue as he can get as Republicans in Congress work to iron out a plan to extend the 2017 tax cuts that are due to expire later this year.

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CPA Practice

FEBRUARY 21, 2025

Small businesses employ half the U.S. workforce and they're already struggling to cope with the consequences of Trump's trade wars.

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