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In today's rapidly evolving business landscape, it is crucial for organizations to future-proof their operations to ensure long-term success. One of the key pillars of achieving this is strategic financial planning and analysis. By efficiently overseeing your financial resources and utilizing data-driven insights, you can strategically position your business to manage uncertainties and seize emerging opportunities.
For years, accounting has been weighed down by manual data entry, siloed departments, and hours of tedious reconciliation. Accounting automation software flips that script, offering smarter, faster, and more reliable financial processes. In this blog, well walk you through what accounting automation software is in a nutshell, how itll support different parts of your workflow, and its benefits.
Tired of chasing down client documents? Here are 13 document management tools built to save time, reduce errors, and secure your firms data. The post 13 Best Document Management Software for Accounting Firms appeared first on Future Firm.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes?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.
Accountants can play a crucial role in helping their clients take full advantage of the Inflation Reduction Act's clean energy tax credits through strategic planning.
Today, running a successful professional services company requires more than just delivering high-quality services. You also need to ensure your financial processes are efficient, your invoices are accurate, and your cash flow is steady. Without proper accounting and financial management, even the most in-demand service businesses can struggle with profitability.
Today, running a successful professional services company requires more than just delivering high-quality services. You also need to ensure your financial processes are efficient, your invoices are accurate, and your cash flow is steady. Without proper accounting and financial management, even the most in-demand service businesses can struggle with profitability.
AAM Hall of Famers August Aquila and Kristen Lewis examine the rise of marketing as a professional function in accounting firm -- and look ahead to where it's going.
Withum is proud to announce that Forbes has named six of the Firms partners to its inaugural Best-In-State CPAs list. This list honors CPAs who have demonstrated exceptional excellence in the accounting profession. The Firm leaders acknowledged on this inaugural list underpin Withums position as a leading national advisory, tax and audit firm. With roots stemming from Princeton, NJ, in 1974 , Withum boasts five partners from the Garden State: Pat Walsh, Managing Partner and CEO; Bill Hagaman, Im
Jump to Reasons and benefits Challenges and solutions Assessing the need for outsourcing Selecting an outsourcing partner Implementation and transition Managing the outsourcing relationship Legal and compliance considerations Data security when working with a third party Emerging trends in 2025 The COVID-19 pandemic prompted significant changes to tax and labor laws, creating more compliance challenges for employers.
In the last few months, to prevent fake firms from obtaining GST registrations, the process of granting GST registration has become far more complicated and time-consuming for genuine taxpayers as well. The CBIC has received complaints that GST officers are asking for additional documents that are not prescribed in the List of Documents appended to FORM GST REG-01.
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.
From spreadsheets and overtime to streamlined success For KPS3, a full-service advertising and marketing agency in Reno, Nevada, billing used to be a multi-department marathon. The team was spending more than 60 hours a week just trying to bill clients and close the booksrelying on a 400-row spreadsheet to patch together data from NetSuite, Salesforce, and payment processing tools.
Choosing the right entity structure for your law firm is a critical decision that can impact your liability, taxation, and overall business efficiency. This article explores various law firm structures and provides strategies for optimizing them to ensure your firm operates smoothly and profitably. Common Law Firm Structures Sole Proprietorship A sole proprietorship is the simplest form of business structure, where the firm is owned and operated by a single individual.
Sports fans know that team loyalties run deep. Committed supporters of college and even high school sports teams now have even more opportunities to make major investments in up-and-coming athletes. In 2021, student athletes were granted licensing rights for the first time, allowing them to earn income on the use of their name, image, and likeness (or NIL).
We would have published this earlier were it not for a once-in-two-decades downtime issue when the story broke on Tuesday. So we’re doing it now. As teased by WSJ earlier this month , Baker Tilly and Moss Adams are in fact combining (or, depending on how you look at things, Baker Tilly is buying Moss Adams and integrating its life force into the host).
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.
Intuit Enterprise Suite continues to evolve as a platform designed to help mid-market businesses streamline operations and achieve growth. With the latest updates now available, Intuit promises enhanced predictive forecasting, improved integrations, and tools to boost accuracy and productivity. However, as with any new features, it’s important to go beyond the marketing gloss and evaluate their real-world practicality.
Microsoft quietly confirmed that the April 8, 2025, Windows 11 version 24H2 update causes the computer to crash with a blue screen of death (BSOD). Affected users receive a BSOD error indicating a SECURE_KERNEL_ERROR. Sources outside of Microsoft also report the error CRITICAL_PROCESS_DIED. The following Knowledge Bases (KBs) confirm the issue: KB5055523 April 8, 2025, update KB5053656 March 27, 2025, update For affected machines, Microsoft has released a Known Issue Rollback (KIR).
When you think of up-and-coming business opportunities, you likely dont think of student athletes. As a result of recent court cases, athletes have gained the ability to receive a financial profit anytime their name, image, and likeness (or NIL) is used. For college and even high school athletes, NIL deals are becoming more and more commonwhether thats for major brands like Nike and Under Armour, in the world of video games, or through their own social media following.
Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expense. The TCJA created 163(j), which generally limits deductions of business interest, with certain exceptions. If your business has significant interest expense, its important to understand the impact of the deduction limit on your tax bill.
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
Republicans scored a major victory this month by passing their FY2025 budget resolution. To refresh your memory, this step was needed to kickstart the all-important reconciliation process, which allows Congress to pass a budget-related bill with only a simple majority. For the GOP, reconciliation is the ticket to extending key Tax Cuts and Jobs Act (TCJA) provisions, funding border security, and making cuts to mandatory spending programs.
The traditional entertainment industry of studio-based film, television, and music greatly shaped our society and economy over the last century. However, in just the past decade, social media has disrupted that studio-based tradition and shaped a new sector of the entertainment industryinfluencing. This shift from studios to individuals has transformed the industry, allowing people living their everyday lives to become sought-after voices in the business.
Your Complete Guide to Tax Help in Cleveland, Ohio: Frequently Asked Questions Expert Tax Resolution Services by Mike Habib, EA – Serving the Greater Cleveland Metropolitan Area About Our Cleveland Area Tax Services Q: Which areas does Mike Habib, EA serve in the Cleveland metropolitan region? A: Mike Habib, EA provides comprehensive tax representation services throughout the Greater Cleveland Metropolitan Area, which encompasses six counties: Cuyahoga, Ashtabula, Geauga, Lake, Lorain, and
Business valuation professionals often rely on client-prepared financial projections to calculate lost profits and diminution in value. However, courts may exclude expert testimony thats based on speculative or unreliable projections. To withstand scrutiny, valuators must support their conclusions with market-based evidence and a rigorous analysis of case-specific facts.
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
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.
Nothing beats the buzz of Accountex! Its where industry leaders, cutting-edge exhibits, and insightful masterclasses converge, creating the perfect space to expand your knowledge and create lasting connections. This year, we’re bringing back our highly anticipated masterclasses, networking breakfast events, alongside a powerhouse team of Xero experts, all dedicated to helping you build a more efficient and profitable practice.
Withum is proud to announce that Kirk Holderbaum , Partner and Chief Growth Officer, has been recognized by NJBIZ as a 2025 ICON. His leadership within the Firm and long-time client relationships have created a legacy of stewardship within the greater NJ business community. With over 30 years of experience in business advisory and public accounting, Kirk has been a driving force behind Withum’s growth and success.
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldnt be claimed because you didnt have enough deductions to itemize. How much do you need? You can itemize deductions if the total of your allowable itemized write-offs for the year exceeds your standard deduction allowance for the year.
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.
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.
US-based small business customers can now pay bills online, directly from Xero: no more logging in and out of multiple platforms or writing and sending checks. Im excited to share that you can now securely pay multiple bills at once and track payment statuses, without leaving the Xero platform. This new feature is powered by BILL, a leading financial operations platform for small and midsize businesses.
One helps your employees. One brings in capital. Both matter. Learn the difference between 409A and fundraising valuations. The post Avoiding Startup Valuation Traps: 409A vs. Fundraising appeared first on Burkland.
If you made significant gifts to your children, grandchildren or other heirs last year, its important to determine whether youre required to file a 2024 gift tax return. And in some cases, even if its not required to file one, you may want to do so anyway. Requirements to file The annual gift tax exclusion was $18,000 in 2024 (increased to $19,000 in 2025).
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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