Sat.Jan 25, 2025 - Fri.Jan 31, 2025

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How to Get Tax Clients: 13 Practical Tips

Ryan Lazanis

Want to pull in new tax clients for your firm? Do these 13 actionable strategies that I've tried and tested over the years. The post How to Get Tax Clients: 13 Practical Tips appeared first on Future Firm.

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Best Practices in Accounting Data Management for Entrepreneurs

AccountingDepartment

Effective accounting data management isn't just about tidy spreadsheets and balancing your books. It's about safeguarding your business's financial health while ensuring seamless operations.

Account 88
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Automation's place in sales tax compliance

TaxConnex

AI and automation are all the rage, but does it have a place in your sales tax compliance process? If so, where? For many businesses, software and automation can serve an important purpose in the compliance process. Businesses need a way to calculate the correct sales tax to charge in states where they have a sales tax obligation, and for this, automation can be a great solution.

Sales 147
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Financial Modeling: A Comprehensive Step-by-Step Guide

Acterys

Financial modeling is an essential tool in corporate finance and business decision-making. By creating structured representations of a companys financial data, financial modeling enables stakeholders to forecast future cash flows, evaluate investment opportunities, and strategize for revenue growth. In this guide, we’ll explore what financial modeling is, the types of financial models, the benefits they provide, and how to create effective financial models.

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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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Financial guide for NFP organisations under 750k

Accounting for Good

NFP organisations with a turnover under 750K will find high-level accounting services cost-prohibitive.

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Common accounting terms for not for profit organisations

Accounting for Good

Are you a Not For Profit organisation? We know the terms and acronyms in accounting can be overwhelming at times.

More Trending

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What Should You Do If You Suspect Your Tax Preparer Is Being Investigated by the IRS?

CPA Practice

The following is a detailed look at why your preparer's legal troubles place you at risk, what signs might indicate they are under scrutiny, and which immediate steps you can take to protect yourself from civil and criminal tax exposure.

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Utilizing FP&A for More Effective Financial Planning

AccountingDepartment

For any business owner, prioritizing the companys future is essential. Financial planning plays a crucial role in this, enabling business owners to drive growth and broaden their operations. If a business owner hasnt focused on this aspect, they need to understand what it is, what it does, and how it differs from regular accounting. What Is FP&A?

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Tax season kicks off with non-tax issues center stage

Accounting Today

With relatively fewer tax changes to worry about, BOI and tariffs are top of mind for some experts.

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Fashion forward: New York’s Fashion Workers Act threads new standards

ThomsonReuters

Blog home The New York Fashion Workers Act , set to take effect on June 19, 2025 , introduces significant changes to the fashion industry, particularly for Model Management Companies (MMCs) and their clients. This legislation aims to enhance protections for models and ensure greater transparency and fairness in their working conditions. Miguel Lopez, a shareholder at Littler Mendelson and an expert in employment law, shared his insights on the Act with Thomson Reuters’ Checkpoint Payroll

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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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Federal Funding Freeze: Crisis Averted… for Now

Withum

The federal funding freeze frenzy that just took place over the last 48 hours was eye-opening for many of us. The not-for-profit industry as a whole and many government-funded organizations went on a two-day roller coaster that started with “you will not be funded– all payments are frozen” to “OMB order rescinded.” This short-term chaos has pointed out the fragility of the industry, where the dependence on government funding, and the chaos that ensues when cash flow

Legal 52
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Why Businesses Should Review Fidelity Coverage

Dent Moses

Employee embezzlement, the act of an employee misappropriating company funds or assets for personal gain, is a pervasive risk that businesses cannot afford to ignore. While organizations often implement internal controls and monitoring mechanisms to mitigate this risk, no system is foolproof. Fidelity coverage, a specialized type of insurance that protects businesses against losses caused by employee dishonesty, is often ignored or has inadequate coverage.

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Clarification on Applicability of GST Provisions on Vouchers | Circular No. 243/37/2024-GST Dated 31st December 2024

VJM Global

The applicability of GST Provisions on vouchers has always been a matter of litigation wherein GST officials take different opinions creating ambiguity and litigations. Several questions are prevailing in the Industry to the taxability of vouchers such as: whether transactions in vouchers are considered a supply of goods or services; whether GST is leviable on the trading of vouchers by distributors or sub-distributors; Is GST applicable to unredeemed vouchers (breakage)?

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Is Outsourcing the Key to Better Business Finances?

Basis 365

Managing business finances can be overwhelming for many entrepreneurs and small to medium-sized business owners. Balancing cash flow, reconciling accounts, creating financial reports, and ensuring compliance with industry standards are time-consuming tasks that require expertise. Unfortunately, not every business has the resources to hire a full-time accounting team.

Finance 52
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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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SEC Issues SAB 122, Officially Rescinding SAB 121

Withum

On January 23, 2025, the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 122 officially rescinding SAB 121. SAB 121 was issued by the SEC on March 31, 2022. The purpose, per the SEC, was to provide guidance on the accounting for obligations to safeguard crypto-assets that an entity holds for its platform users. Some of the key points from SAB 121: Safeguarding Obligations and Measurement : Entities that hold crypto-assets for their users would have been requi

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Rise up and Build Together : CAPATA and Abedian + Totlian Merge

CapataCPA

Rise up and Build Together: CAPATA and Abedian + Totlian Merge At CAPATA, we believe in the power of collaboration and innovation to create meaningful growth. Through our recent merger with Abedian + Totlian, we are excited to unite two strong teams under one mission: to empower businesses and individuals to achieve their goals and rise to new heights.

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Friday Footnotes: RSM Partner Says UK Gov Should Sell Off Bitcoin to Pay Debts; No KPMG Law Yet; Flat Salaries For Consultants | 1.31.25

Going Concern

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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Updates to Intuit Assist - From Intuit's 'In the Know' (Our Take)

SchoolofBookkeeping

Intuit claims to have been tuning into their customers' woes, particularly those grappling with the cumbersome task of managing accounts payable. Users have long been exasperated with the tedious manual entry of bills, a process that demands painstakingly typing each one into the system. Yes, QuickBooks did offer a receipt capture feature, but let's be honest—it was missing key functionalities and often failed to populate the necessary fields accurately.

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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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Federal Tax Reform Timing Is Still Uncertain

Withum

Following the January inauguration, a flurry of executive orders, and Senate confirmations rolling in, the timing of when federal tax reform will take place still appears to be undecided amongst the Republican party. Federal tax reform will include the extension of tax provisions provided under the Tax Cuts and Jobs Act that are set to expire on Dec. 31, 2025.

Tax 85
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The role of ERP in the digital transformation of corporate tax departments

ThomsonReuters

Blog home For many growing companies, the decision to switch to a centralized Enterprise Resource Planning (ERP) system is driven by the need to keep up with the increasing complexity and speed of global digitalization. Many common business activities communication, compliance, e-invoicing, reporting, risk management, modeling, analysis, project management, and morenow require universal access to real-time data.

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Crunching the Numbers on How Many Core CPA Exam Sections Were Taken in 2024

Going Concern

Yesterday NASBA released scores for Core CPA exam sections taken from October 1 – December 26, 2024, the last group of scores for sections taken last year. Let’s check out the numbers: On January 29, NASBA received and processed the following scores from the AICPA: pic.twitter.com/6kbvbwtP62 — NASBA (@NASBA) January 29, 2025 CPA exam scores processed for October 1 – December 26, 2024: AUD: 8,766 FAR: 11,461 REG: 7,694 Total Core exam sections taken: 27,921 There were four

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Fed Talk 1.29.25 – CAPATA Financial’s Take on FOMC Press Conference

CapataCPA

Notable comments from Chairman Powell during today’s FOMC press conference and announcement. From the FOMC statement: “The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated.”: The Fed had previously indicated in recent statements, and Powell has reinforced in press conferences, a shift in policy response toward concerns about unemployment as the mandate most likely to deviate from its assigned goals o

Legal 52
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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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My Teaching Method

Withum

I have been teaching college as an adjunct since 1976, though not consecutively. I have taught fourteen different courses at three universities (and taught most of these courses multiple times). Additionally, I received an innovative teaching award, so I could consider myself an experienced educator. Now to my point. Textbooks Versus Projects Versus Real-World Situations There are many different teaching methods.

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Beyond the hype: Real-world applications of GenAI in auditing

ThomsonReuters

Blog home The buzz around generative AI (GenAI) is hard to ignore. But with headlines declaring it has the potential to revolutionize industries, what does the use of GenAI mean for the audit profession ? Amidst the noise, lets separate the hype from reality and explore how GenAI can genuinely enhance an auditors daily life and work. Jump to What is GenAI and what is its potential impact for audit professionals?

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Top Remote Accountants of the Week | January 30, 2025

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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R&D Tax Credit Misconceptions Could Cost Your Startup Six Figures

BurklandAssociates

Think your startup doesnt qualify for R&D tax credits? Think again. You could unlock $500,000 or more in annual savings. The post R&D Tax Credit Misconceptions Could Cost Your Startup Six Figures appeared first on Burkland.

Tax 147
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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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TIGTA Alerts Taxpayers of New Tax Season Text Message Scam

CPA Practice

Scammers impersonating the IRS are texting taxpayers leading them to believe they're going to receive an economic impact payment, also known as a recovery rebate credit, but it's a scheme to steal their personal data, TIGTA said on Jan. 28.

Tax 126
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Rupert Murdoch tests how irrevocable a trust can be

Accounting Today

The media mogul is in court to allow him to change the terms of a trust but it's not that easy.

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Good Riddance – SAB 121 Is No Longer

Withum

In this episode of Cryptonomix, Mark Eckerle reviews the SEC's decision to rescind SAB 121, its main components, and its impact on financial institutions.

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Are Employee Wages Tax Deductible If You’re a Sole Proprietor?

Patriot Software

Small business tax deductions provide a great way for business owners to offset expenses and lower tax bills. And in business, expensesespecially your employees on payrolladd up quickly. Are employee wages tax deductible? If youre a sole proprietor or single-member LLC who files Schedule C, read on.

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How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

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.