Tue.Jan 14, 2025

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Areas to Address in Using AI in Accounting

BurklandAssociates

AI aids tasks like bookkeeping and tax prep but can't replace expert accountants for oversight, data review, and decision-making. The post Areas to Address in Using AI in Accounting appeared first on Burkland.

Account 147
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U.S. sales tax requirements for Canadian sellers

TaxConnex

Canadian eCommerce companies used to the simplicity of most nations sales tax systems (including, to a degree, their own) could be in for a shock when they try to sell online to customers in the United States. But the market of Uncle Sam isnt a total brick wall of complexity if a Canadian seller does their homework. Similar but more complicated U.S.

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Strong Businesses, Strong Strategic Partnerships

Basis 365

Running a successful business requires more than just a great idea and hard work. It demands a sound financial business model and reliable information to guide decision-making. At Basis 365, we provide outsourced accounting and bookkeeping services, acting as the accounting department for our customers. But building a strong business requires a broader network of strategic partners to address every aspect of your operations.

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Vulture, Er, *Venture Capitalists Are Here

Going Concern

“We do think theres a huge opportunity to roll up accounting firms and automate a lot of the workflow and let the same accounting firms take twice as many clients, says Marc Bhargava, Managing Director at VC firm General Catalyst to Wall Street Journal for their recent piece ‘ AI Has Venture Investors Excited About (Yes) Accounting Firms.’ “The idea is not to cut people with AI, the idea is to enable them to do two to three times the work.” According to their Linked

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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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FTC mandates changes at H&R Block

Accounting Today

A Federal Trade Commission order requires the tax prep giant to make it easier for customers to use cheaper options.

Tax 126
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Caseware Appoints David Marquis as Chief Executive Officer

Accounting Insight

Leading global audit, analytics and accounting software provider Caseware has today unveiled the appointment of David Marquis as Chief Executive Officer. Marquis transitions to Caseware after five years at Intuit, where he recently led the international division including Canada, Australia, the UK and other non-US markets. Marquis joins at an exciting time for Caseware, which has reached a unique position as a global leader in cloud audit, assurance, financial reporting and data analytics, selli

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7 Pain Points AI Could Solve for Accounting and Finance Teams

CPA Practice

"These pain points emphasize AI's potential to enhance efficiency, accuracy, and insight generation in finance by addressing time-consuming and error-prone tasks," accounting automation platform Trullion says in a new report.

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Ohio eases CPA licensure

Accounting Today

Ohio Governor Mike DeWine signed into law a bill that provides more flexibility for obtaining a CPA license, effectively eliminating the 150-hour requirement.

Ohio 122
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Many Auditors Are Still Married to Their Excel Spreadsheets, Report Finds

CPA Practice

While Excel's versatility has made it a staple for decades, it's limitationssuch as version control issues, manual data entry errors, and collaboration bottlenecks are becoming increasingly problematic," accounting automation platform Trullion says in a new report.

auditor 119
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PCAOB fines Baker Tilly $500K over quality control

Accounting Today

The Public Company Accounting Oversight Board found specific deficiencies in the testing of internal controls and accounting estimates, and in engagement quality reviews.

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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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AccountsIQ acquires ExpenseIn to solidify its finance software offering for ambitious, mid-market businesses

Accounting Insight

ExpenseIn joins the AccountsIQ Group, integrating ExpenseIns comprehensive expense management capabilities with AccountsIQs leading accounting software AccountsIQ , a leading provider of fully cloud-based accounting software, has today announced its acquisition of ExpenseIn , the expense management software that empowers businesses to take control of their expense and invoice management process.

Finance 52
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The Supreme Court takes on CTA, BOI

Accounting Today

Experts weigh in on the seesawing judicial fate of the Corporate Transparency Act and its beneficial ownership information reporting mandate.

Account 115
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7 Accounting Marketing Hacks Every Small Firm Leader Should Know

CPA Practice

From niche targeting to leveraging local SEO and creating engaging content, these hacks can help you attract and retain clients without stretching your resources thin.

Account 115
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IRS works to deter tax season scams

Accounting Today

The Internal Revenue Service is making some changes this tax season in an effort to combat tax scams in areas like the Fuel Tax Credit.

Tax 111
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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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Advisory vs. Compliance: Which Path Leads to Greater Success for Accounting Firms?

CPA Practice

In December, more than two dozen accounting profession thought leaders participated in the latest Accounting Meta Influencers roundtable event focused on advisory services, compliance and firm specialization.

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Xero announces new tagline, "Your business supercharged"

Accounting Today

Xero announced it now has a new tagline: "Your business supercharged.

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SMB Jobs and Revenue Dropped in 2024 But Show Signs of Recovery, Says Intuit Report

CPA Practice

Small businesses grew more slowly after the spike in interest rates if they had less access to credit. Those that were hit the hardest had up to 30% lower revenue and 4% lower employment growth compared to other small businesses.

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How to Apply for a Business Loan in 7 Simple Steps

Patriot Software

Just starting your entrepreneurial journey? Been in business for over 10 years? Regardless of if youre a veteran business owner or just starting out, you may need to get a business loan. So, where do you start? Let us walk you through how to apply for a business loan.

Account 98
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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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AI and Litigation: How Accountants Can Stay Ahead as Courts Wrestle with the Machine Revolution

CPA Practice

From automating processes to analyzing massive datasets, AI is reshaping the accounting landscape while lawyers and judges scramble to decide whos responsible when it all goes wrong. From intellectual property spats to bias allegations, AI is breaking down courtroom doors, and the legal system isnt ready.

Account 109
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From hype to habit: Where AI is headed in 2025

Xero

Remember when the world shifted from paper to computers? Or from desktops to mobile devices? We’re on the cusp of a similar revolution with AI. What once felt like a futuristic, magical tool is quietly weaving itself into our daily lives. In the same way we now wonder how we ever lived without the internet, soon we’ll wonder the same about AI.

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IRS and Treasury Department Propose Regs on New Roth Catch-Up Rule, 401(k) Auto Enrollment

CPA Practice

The proposed regulations address several SECURE 2.0 Act provisions, including ones aimed at the new Roth IRA catch-up rule and the new automatic enrollment requirement for 401(k) and 403(b) plans.

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Clean Vehicle Tax Credits: What Nonprofits and Governments Need to Know

LSLCPAs

Nonprofits and government agencies can now tap into a game-changing financial incentive: the Clean Vehicle Credit. Thanks to Section 6417 of the Inflation Reduction Act of 2022, tax-exempt entities can benefit from a groundbreaking provision called the Direct Pay (or Elective Pay) option. This allows eligible organizations to receive direct payments equivalent to certain tax.

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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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Report Highlights Key Trends in Tax and Accounting for 2025

CPA Practice

Led by AI adoption, digital transformation, and a shift toward advisory services, firms are positioning themselves for sustainable growth.

Account 91
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Franchise model offers alternative to partnership route

Accounting Today

More firms are creating alternative paths for employees who want to excel, but who don't want to "sell their soul to the firm" in order to make partner.

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AICPA Updates Its Digital Assets Practice Aid

CPA Practice

The practice aid offers a new definition for digital assets, new and amended accounting questions, and the introduction of new terms.

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In the blogs: Buzzing sounds

Accounting Today

Flat tax; doubts about 'automatic' IRS calculations; when to shred; and other highlights from our favorite tax bloggers.

Tax 59
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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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IRS, Treasury Release Final Rules for Clean Electricity Tax Credits

CPA Practice

The Clean Electricity Investment and Production Tax Creditsalso known as the "technology-neutral credits"are intended to encourage more investments in clean energy systems over the next few years.

Tax 64
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Springline Advisory invests in Fiske Advisory

Accounting Today

Springline Advisory, a financial and business advisory firm backed by the private equity firm Trinity Hunt Partners, has partnered with Fiske Advisory LLC.

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ITC Reversal not Required to the Extent Supply Made u/s 9(5) by ECO| Liability u/s 9(5) is to be Paid in Cash Only

VJM Global

In pursuance of the recommendation of the 55th GST Council meeting , the CBIC has issued circular No. 240/34/2024- GST dated 31st December 2024 to clarify whether the ITC is required to be reversed by the e-commerce operators to the extent of the supply made under Section 9(5) of CGST Act, 2017. 1. Issue under Consideration Circular No. 167/23/2021 GST dated 17.12.2021 clarified that electronic commerce operators (ECOs), required to pay tax under section 9(5) of CGST Act, are not required to re

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Insero receives PE investment from Rallyday Partners

Accounting Today

Insero Advisors LLC, a firm based in Rochester, New York, has received a strategic investment from Rallyday Partners, to accelerate the firm's growth.

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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.