Tue.Apr 15, 2025

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Common Startup Accounting Mistakes (And How to Avoid Them)

BurklandAssociates

Smart founders avoid financial pitfalls. Learn the top accounting mistakes startups make and how to fix them before they derail your business. The post Common Startup Accounting Mistakes (And How to Avoid Them) appeared first on Burkland.

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The Path to Becoming a Process Lead at AccountingDepartment.com

AccountingDepartment

A Process Lead at AccountingDepartment.com plays a crucial role in our Implementation team's support of new client onboarding. Those who occupy this role are people who thrive in a fast-paced environment, enjoy working with a variety of personalities, and possess strong communication skills. Accuracy, attention to detail, and follow-through are also critical for success in this position.

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The Importance of the Statement of Cash Flows

Basis 365

I recently had a conversation with a prospective customer who was puzzled by why their net income wasn't translating into a higher cash balance. A quick review of their balance sheet immediately revealed the issuethey had invested significantly in expensive vehicles, coupled with substantial loan obligations. To clearly illustrate the disconnect between their reported profits and actual cash available, the most effective tool to use was the Statement of Cash Flows.

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How E-Commerce Automation Supports Seamless Accounting Integration

Withum

Are you tired of juggling multiple platforms to keep your e-commerce and accounting systems in sync? Youre not alone. Many business owners face this challenge, but the solution lies in understanding how pre-configured e-commerce connectors and e-commerce automation tools can simplify your workflow. In this article, well explain how these connectors work, why they matter and what steps to take to get started.

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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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Here’s How Many Millions IRS Workers Owe in Back Taxes

CPA Practice

New legislation proposed by Sen. Joni Ernst (R-IA), called the "Audit the IRS Act," is aimed at ensuring that IRS employees are up to date with their taxes.

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Embracing the data revolution: How tax departments can get organized with data management

ThomsonReuters

Highlights: Tax teams face data overload or inefficient manual processes A data management strategy is crucial to centralize, integrate, automate and analyze Only 26% have tax data systems; 80% underinvest in tax technology Good data management transforms tax into a strategic business partner More than perhaps any other business department, tax teams rely heavily on data.

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What is an ERP system and why does it matter for your business?

ThomsonReuters

Highlights: An ERP system consolidates business functions such as accounting, procurement, inventory, and HR. SAP and Oracle are examples of ERP solutions. There are three common types of ERPs: on-premise, cloud-based, and hybrid. Enterprise resource planning (ERP) systems have become an essential component of modern business operations. They simplify processes, boost productivity, and strengthen compliance by integrating core business functions into a single system.

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National debt keeps growing, but not fully accounted for

Accounting Today

The federal government's financial condition worsened by $4.7 trillion in the past year, according to a new report timed to coincide with Tax Day.

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AICPA Signals Strong Support for Legislation Recognizing Accounting as STEM

CPA Practice

TheAmerican Institute of CPAs(AICPA) is signaling its strong support for bipartisan legislation to establish the accounting profession as a career pathway through Science, Technology, Engineering and Math.

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IRS marks Tax Day amid worries about layoffs and cutbacks

Accounting Today

The Internal Revenue Service commemorated Tax Day this year as the 70th anniversary of the April 15 tax filing deadline.

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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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79% of Tax and Accounting Firms Expect Significant GenAI Integration by 2027

CPA Practice

The 2025 Generative AI in Professional Services Report found the percentage of tax firms already implementing GenAI technology has nearly tripled year-over-year.

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Tennessee, Arkansas weather victims get tax relief

Accounting Today

The IRS is pushing back filing and payment deadlines statewide for those impacted by local storms, tornadoes and flooding.

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New Features in Intuit Enterprise Suite Ideal for Complex Clients

CPA Practice

Intuit Enterprise Suite addresses the complex needs of quickly growing businesses, including streamlining multi-entity business journal entries and consolidated reporting.

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Don't overlook the power of Google reviews

Accounting Today

If you don't think clients and prospective clients are checking out your Google reviews, think again.

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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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13 is Not an Unlucky Number For PwC

CPA Practice

For the 13th consecutive year, PwC was named the top accounting firm in the U.S., according to the latest ranking of the best 25 firms to work for in 2026 from Vault.

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Lawmakers reintroduce bill to recognize accounting as STEM subject

Accounting Today

The bill, backed by the AICPA, would enable K-12 STEM funding to be used for accounting awareness and education and eventually help with the talent shortage.

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Two-Thirds of Gen Z Feels Unprepared for Financial Future, Generational Wealth Transfer

CPA Practice

As Baby Boomers are poised to pass down an estimated $84 trillion to younger generations by 2045, the data suggests younger generations arent equipped to handle it just yet.

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In the blogs: Lotus operandi

Accounting Today

IRS happenings; minimal talk of de minimis; new blog on the block; and other highlights from our favorite tax bloggers.

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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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IRS Pushes Back Tax Filing Deadline For All Arkansas Residents

CPA Practice

The same early April severe storm that caused the IRS to extend the federal tax filing deadline for the entire state of Tennessee on Monday will also give all of Arkansas a Tax Day reprieve.

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How CPAs Can Embrace Automation & Digital Transformation with Michale Uadiale

Insightful Accountant

In this episode of the Podcast, host Gary DeHart sits down with Michael Uadiale, CPA, an advocate for digital transformation in accounting, to explore how CPAs and firms can leverage automation, AI, and modern tech tools to boost efficiency.

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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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Fiscal Hawks in the House Fold for a Senate Promise

Withum

The House of Representatives adopted the Senate Budget resolution in a razor-thin vote on Thursday, April 10, 2025, after thirty House Representatives who identify themselves as fiscal hawks ultimately flipped for the promise by the Senate that they would look to cut $1.5 trillion. While the Senate and the House pledged their alignment at finding at least $1.5 trillion in spending cuts and savings, the Senate budget resolution agreed to by the House only requires $4 billion in spending cuts.

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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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Branch Launches New Paycard Built for the Modern Workforce

CPA Practice

Delivered through the award-winning Branch App and Card, thenew paycard offeringwas developed in response to growing demand across industries including hospitality, healthcare, staffing, and construction.

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How Sales Tax Impacts M&As (part 1)

TaxConnex

Many aspects of a target companys tax history can pop up often unpleasantly during the due diligence of an M&A. And though perhaps not the first tax to mind when looking into problematic pasts, sales tax can torpedo a promising deal. In the last 15 years or so, awareness of sales tax in M&A has intensified. The prospective buyer takes the understandable step of rooting for every red flag for past, potential sales tax problems with states, bringing in analysts and researchers who start

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Here’s How Much the Average American is Receiving in Tax Refunds, According to Latest IRS Data

CPA Practice

ThroughApril 4the latest date currently availablethe IRS has issued 67,745,000 refunds, roughly 1.4% more than the 66,799,000 that had been issued by that time last year.

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Should You Run Weekly Payroll or Biweekly?

Patriot Software

Most businesses70%pay employees weekly or biweekly. But between weekly payroll and biweekly payroll, which is best for your business? Both pay frequencies have their advantages for employers and employees. Read on to learn how to choose between weekly and biweekly payroll. Did You Know? Depending on your state, you may not have a choice.

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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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Millionaire tax-hike talks gain steam

Accounting Today

Republicans in the White House, Senate and House are drafting analyses on how best to craft a new tax bracket for the wealthiest Americans.

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State Unemployment Insurance Tax vs. State Income Tax: A Breakdown

CPA Practice

Take a proactive approach to SUI and SIT to ensure your clients remain compliant - it can also position you as an expert in the field of payroll management.

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2025 GenAI report: Executive summary for tax professionals

ThomsonReuters

Blog home The Thomson Reuters Institute has released its latest report on generative AI (GenAI), titled 2025 Generative AI in Professional Services. This comprehensive study explores the attitudes, perceptions, and usage of GenAI among professionals in the legal, tax & accounting, risk & fraud, and government sectors. Conducted in early 2025, the survey gathered valuable insights from more than 1,700 respondents across the United States, the United Kingdom, and Canada.

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Accounting for Uncertainties – Considerations and Best Practice for Not-for-Profits Impacted by the Federal Funding Freeze

Anders CPA

In January 2025, the Office of Management and Budget (OMB) ordered a pause on certain federal grants, transactions and loan fund disbursement, causing understandable concern for not-for-profits that rely on these funds for their mission. The federal government has recently initiated other actions relating to grants, including terminations, claims and adjustments that are being challenged in court.

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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.