Mon.Apr 14, 2025

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Why Outsourced Accounting is Becoming the “New Normal”

Basis 365

The business landscape has evolved significantly in the wake of the pandemic. Companies across industries were forced to rethink their operational strategies, especially in critical areas like finance and accounting. Remote work, digital collaboration, and cloud-based technology became essential tools for survival. As businesses continue adapting to this new normal, one trend has gained significant traction: outsourced accounting.

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Six Smart Questions for An Accurate and Timely Financial Close

Withum

Are you struggling to maintain accuracy and timeliness in your monthly or quarterly financials? These six strategic questions can help you create a framework for achieving precision and timeliness in your financial reporting. Have you established a detailed checklist that specifies all closing activities, assigns responsible individuals, sets clear deadlines, and is shared with everyone involved in the closing process?

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Is your finance department firing on all cylinders?

Accounting Insight

A roadmap for a digital transition of the finance function that results in an agile finance department Imagine this everyday scenario: your finance team spends hours manually processing invoices, chasing approvals and fixing errors. The net results are late payments, compliance risks and frustrated suppliers. These outdated financial processes are costing your business valuable time and money.

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LLCs vs. S Corporations vs. C Corporations: Choosing the Right Entity for Your Business

Withum

When starting your food or restaurant business, one of the most important decisions you’ll make is selecting the legal structure for your company. Each type of entityLLC (Limited Liability Company), S Corporation, and C Corporationcomes with its own advantages and disadvantages. Limited Liability Company (LLC) An LLC is a hybrid structure that combines the simplicity of a sole proprietorship or partnership with the liability protection of a corporation.

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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Top tips: Choosing the right software for your accountancy firm

Accounting Insight

In todays world, embracing the right software tools for accountants is not just a matter of convenience; it’s a fundamental necessity. As the accounting landscape evolves, these tools become indispensable. While your first thought might jump to invoicing tools or actual accounting software, there is a whole world of possible tools that can help you streamline complex workflows, ensure your accountants remain agile in their roles, improve client communication, and more.

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Mastering tariff series Part 2: Avoiding or delaying tariffs with ONESOURCE FTZ software

ThomsonReuters

Highlights: Foreign Trade Zones (FTZs) help companies reduce the impact of tariffs by deferring or avoiding customs duties, taxes, and tariffs, ultimately improving cash flow. Effective FTZ management requires careful tracking and reporting of goods within the zone Setting up an FTZ and implementing a suitable inventory control system takes time, so companies should start the process now to be prepared for increasing tariffs.

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Embracing AI and closed-loop automation for tax exemption certificate management

ThomsonReuters

Blog home Imagine a world where mastering taxes becomes your company’s secret weapon for boosting total revenue. As businesses aim for greater efficiency and accuracy, artificial intelligence (AI) is a game-changer in handling exemption certificates. Thomson Reuters and CERTifyTax are leading this change by providing an automated solution that simplifies exemption certificate management (ECM), elevates the entire tax function, and positively impacts the bottom line.

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Getting the Most from Proposal Software for Accountants

Canopy Accounting

Creating a proposal for a potential new client sets the tone for the professionalism they expect from your firm moving forward. Even the most prolific accountants struggle with creating quality proposals, whether the challenge is inconsistent formatting, manual errors, or other issues that could potentially undermine the firms credibility.

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Analyzing Business Tax Returns in Divorce Cases

FraudFiles

Tax returns can be one of the most important pieces of information a forensic accountant evaluates in a divorce case. Of course, there are other very important financial documents, but income tax returns provide summary information about of lot of financial issues, including income, expenses, and assets. I typically recommend reviewing three to five years [.

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Professionals on the Move – April 14, 2025

CPA Practice

Professionals on the Move is a round-up of recent hiring, promotion, and other staffing announcements from around the account profession. Wipfli announces Rebekah Gardner as new chief growth officer Wipfli, a top 25 advisory and accounting firm, recently announced the appointment of Rebekah Gardner as the firms new chief growth officer. Gardner brings a wealth.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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Introducing ‘Know Your Numbers’, a new financial literacy program for every Kiwi small business

Xero

In the world of small business and beyond, financial literacy is an essential skill. However, we know that understanding how and when to save, spend or invest and whats more, having confidence about these decisions isnt innate knowledge; its learned. This ultimately means financial literacy can be a position of privilege. So, to help level the playing field, were proud to announce Know Your Numbers , a free program designed to improve the financial literacy of small business owners across Aote

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How to Build a Robust Pipeline of Accounting Talent for Your CPA Firm

CPA Practice

CPA firms that lack a strong talent pipeline risk understaffing, overworking existing employees and potentially losing business to competitors with workforces better prepared to take on new challenges.

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Most Americans don't know TCJA will expire

Accounting Today

A majority of Americans do not know that the Tax Cuts and Jobs Act is temporary and set to expire this year, according to Cato Institute.

Tax 107
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All of Tennessee Qualifies for IRS Disaster Tax Relief After Severe Storms

CPA Practice

As a result of the severe storms, which included tornados and flooding, that began on April 2, taxpayers now have until Nov. 3 to file various individual and business tax returns and make tax payments.

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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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By the numbers: Remote work, state tax burdens and more

Accounting Today

The latest data on the number of accountants working remotely, and where residents experience the highest and lowest lifetime tax burdens.

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How Tariffs May Impact the Restaurant Dining Experience

CPA Practice

Among households earning $50,000 or less a year, dining out is already less attractive because of higher prices, according to TouchBistro's2025 American Diner Trends Report.

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Forms 1042-S due Thursday

Accounting Today

The IRS has extended the deadline for reporting income paid to non-resident aliens, foreign corporations, and other foreign entities.

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Avalara Earns TrustRadius Trusted Seller Verification

CPA Practice

Avalara has been verified as a Trusted Seller on TrustRadius, the most trusted buyer intelligence platform for business technology.

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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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Where the Top 100 Firms are

Accounting Today

The accounting profession is at home everywhere in the country, but there are a few spots where it's more concentrated.

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Rectangle Health Launches PayerSync, Automating Payer-Provider Reimbursements

CPA Practice

Rectangle Health has launched PayerSync, a solution designed to digitize and accelerate the critical payer-to-provider payment process.Rectangle Health is a provider of healthcare payment solutions.

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Art of Accounting: The end of this year's tax season

Accounting Today

If you were designing a CPA practice from scratch, what would you do about tax season? Keep it as is, make some changes or possibly eliminate it?

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Latest Prediction Shows Social Security COLA to Increase 2.3% Next Year

CPA Practice

The non-partisanThe Senior Citizens Leaguepredicts the 2026 cost of living adjustment will be 2.3%, 0.1 percentage points higher than last months forecast but 0.2 percentage points lower than the last increase of 2.5%.

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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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CBIZ centralizes tech services post-merger

Accounting Today

Following its acquisition with Marcum, Top 10 Firm CBIZ has begun centralizing its disparate technology services under a single office.

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The Urgency of Real-Time Financial Insights for Manufacturing and Construction CFOs

CPA Practice

For CFOs, real-time financial insights have become a necessity, enabling smarter decision-making, faster pivots, and greater financial resilience.

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There's no such thing as an AI-first firm … yet

Accounting Today

The artificial intelligence technology that will transform accounting is available, so what's holding us back?

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How to Help Clients’ Children Score a Top College without Gaming the System

CPA Practice

The first thing to know is that, while colleges are seats of higher learning, they are also a business. They have a brand. They have marketing departments. And theyre vitally interested in improving their position when various publications.

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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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Top 100 U.S. ProAdvisors for 2025

Insightful Accountant

Insightful Accountant proudly announces the 2025 Top 100 U.S. ProAdvisors.

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IRS Plan to Give Data to ICE Could Wallop California

CPA Practice

According to theInstitute on Taxation and Economic Policy,undocumented taxpayers contributed an estimated $8.5 billion in state and local taxes in California in 2022, more than in any other state.

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Wolters Kluwer hit by data breach

Accounting Today

Tax and accounting solutions provider Wolters Kluwer said that there is currently no evidence that any financial or tax data has been impacted.

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AI Trends CPAs & Accounting Marketers Can’t Afford to Ignore

CPA Practice

AI isnt just some futuristic buzzwordits changing how CPAs, accounting firms, and their marketing teams operate right now. Here are some of the trends thatll shape the accounting industry over the next year and how you can get ahead of the curve.

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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.