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Let’s face it: managing accounting of your small-to-medium business in-house can be a challenge. You’re juggling endless spreadsheets. Tracking expenses. Meeting tax deadlines. All while trying to actually run your business. But here’s the thing… Outsourcing your accounting isn’t just a convenience anymore — it’s becoming a competitive advantage in 2025.
Highlights: Corporate tax leaders express strong enthusiasm for generative AI but face significant challenges in its effective adoption. A substantial gap exists between corporate tax professionals’ belief in GenAI’s utility and its actual widespread implementation. Departments rarely measure GenAI’s return on investment and often lack essential governance policies for its use.
In May, the House passed “The One, Big, Beautiful Bill,” which contains broad provisions impacting many areas of taxation, including tax-exempt organizations. On June 17, 2025, the Senate Finance Committee released its version of the sweeping tax package. Both versions include broad tax reforms that impact tax-exempt organizations, but there are significant differences in key provisions.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes?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.
Highlights: Corporate tax leaders express strong enthusiasm for generative AI but face significant challenges in its effective adoption. A substantial gap exists between corporate tax professionals’ belief in GenAI’s utility and its actual widespread implementation. Departments rarely measure GenAI’s return on investment and often lack essential governance policies for its use.
Recent developments in payment platforms and tax regulations have brought increased attention to the IRS reporting requirements triggered by lower income thresholds. With these changes in mind, it's important to consider how using a payment platform impacts the collection of sales tax. One such platform is Stripe, a payment processor that works and worldwide and allows merchants to receive payments via debit or credit cards, mobile wallets, ACH and buy-now pay-later services.
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The Tax Cuts and Jobs Act (TCJA) was passed in 2017, bringing various tax changes. Several major provisions are set to expire after 2025, which could have a significant impact on business owners. We have provided a summary followed by a brief explanation and discussion of each action item to help you in your planning. The post 6 Things Business Owners Should Know and Do About the Looming TCJA Expirations appeared first on LSL CPAs.
Quoting fees can feel like playing darts blindfolded. You hope for the bullseye, but more often than not, you end up way off target. Maybe charging so much that you lose the prospect. Then there are those occasions when you kick yourself if a prospect agrees immediately to your fee quote, making you think you might not have charged enough! It’s not easy getting your fees right so that they are fair to you and to your clients.
For small businesses, we know that efficient, accurate, and seamless workflows are non-negotiable — especially when it comes to making payments. After all, paying bills and managing cash flow are two crucial tasks, and when managed effectively hand-in-hand, small businesses thrive. But these tasks shouldn’t be a manual headache. We also know that more than 70% of US SMBs place a high importance on having their accounting and accounts payable software tightly integrated, but only a small mi
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The Senate Finance Committee released its markup of the One Big Beautiful Bill last Tuesday, June 17, 2025, with the expectation that the Senate will vote on the bill sometime this week. Three provisions that will have a direct impact on pass-through entity owners, including limitations on the deductibility of state pass-through entity tax payments at the individual level, maintaining the Section 199A deduction at 20% (versus 23% as provided in the House bill), and limiting the deductibility of
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The AICPA submitted a letter to Senate Finance Committee leadership which included its endorsements, its concerns regarding the PTET SALT deduction, its request for clarification of the SALT proposal and two other recommendations.
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Menzies LLP - A leading chartered accountancy firm. Occasionally, no matter how well you think you might have planned, a tax bill can come as an unexpected surprise. In circumstances where you are not able to pay by the deadline, its important to know what options are available to you as a taxpayer. We discuss some of the routes you can take below as well as what happens when you are unable to reach an agreement with HMRC.
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Menzies LLP - A leading chartered accountancy firm. HMRC has recently published a policy paper updating the VAT recovery rules in relation to the management of pension funds. The brief is relevant to businesses that provide pension funds for their employees, pension administration and asset management service providers, pension fund trustees and pension providers.
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The Public Company Accounting Oversight Board sanctioned the firm Michael T. Studer CPA and Michael Studer for repeat violations related to a 2019 audit.
The top five accounting firm said its new myRSM Tax ecosystem "demonstrates how cutting-edge AI is transforming client service, streamlining operations, and empowering professionals across the firm.
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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Quinn was founded by a team of technology veterans with over 15 years of experience in fintech and 20 years of experience in machine learning and complex data systems.
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