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At the start of last year we ran a little survey asking readers what they thought would be the biggest issues impacting the profession in 2024. And at that time, the talent shortage won out as the biggest of the big issues. By a large margin at that. What will be the biggest issue affecting the profession in 2024? With 2024 now behind us it’s safe to say that the talent shortage, which we’ve come to regard as a b t talking point at this point since firms don’t seem interested i
Job applicants must work hard to stand out in a crowded marketplace. For some, that means bending the truth or outright lying about their experience, skills and education. According to a survey performed by resum-writing service StandOut CV, a staggering 64.2% of Americans have lied on their resum at least once. Bad hires can generate direct and indirect costs, including lost productivity, customer dissatisfaction and wasted training time.
In today's fast-paced business environment, numbers alone won't cut it. It's about transforming those numbers into meaningful insights that can guide strategic decisions and drive growth. Financial analytics offers medium-sized businesses a powerful tool to convert raw data into actionable strategies, giving them a competitive edge. Let's explore how leveraging financial analytics can revolutionize business operations , improve decision-making, and enhance overall efficiency.
Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. The IRS recently announced next years inflation-adjusted amounts for several provisions. Here are the highlights. Standard deduction. What does an increased standard deduction mean for you?
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
Accounting firms face numerous challenges, from inefficiency to miscommunication and time-consuming manual tasks. Zoho Practice is a comprehensive platform designed to streamline your operations.
Accounting firms face numerous challenges, from inefficiency to miscommunication and time-consuming manual tasks. Zoho Practice is a comprehensive platform designed to streamline your operations.
When youre building a tech startup, accounting probably doesnt feel very exciting. Who wants to think about spreadsheets when youre busy building or scaling? But, as a Y Combinator funded company and referral partner, weve noticed a pattern: promising startups regularly fail because of poor financial management. In this article, well explore the essentials of tech startup accounting, including best practices, common mistakes, and the accounting software we think will make your life easier.
With the Republican win in the U.S. presidential election , the tax and accounting profession is bracing for the potential tax law changes that now lie ahead as President-elect Donald Trump returns to the White House. Meanwhile, the IRS has outlined several of its planned adjustments for 2025. Jump to IRS adjustments for 2025 401(k) and Roth changes Future of the TCJA Elimination of taxes on Social Security benefits Stay aware of upcoming tax law changes On the campaign trail, Trump floated a w
Youre not alone if youre confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Lets take a look at what you can deduct in 2024. Current law The Tax Cuts and Jobs Act eliminated deductions for most business-related entertainment expenses. That means, for example, that you cant deduct any part of the cost of taking clients out for a round of golf or to a football game.
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
In an ever-evolving business landscape, anticipating and adapting to future challenges and opportunities is crucial for achieving long-term success. As companies strive to stay ahead, CFO support services have emerged as a vital component in future-proofing business operations. Providing expert financial guidance, strategic planning, and technological integration, these services play a pivotal role in ensuring stability and growth.
Psst, take our 2025 Predictions for the Accounting Profession survey. To see 2024 survey results, check out this post. 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.
8 min read December 31st, 2024 Every nonprofit leader knows that year-end giving is often the biggest fundraising event of the year. Throughout the holiday season, the spirit of giving is strong, and businesses are also looking for last-minute opportunities to increase their tax write-offs for the year. Key Takeaways Demonstrate Impact: In addition to thanking your donors and including the compliance-required information in your year-end donor acknowledgment, you should also demonstrate the impa
There are three commonly accepted techniques for valuing a closely held business: the cost (or asset-based) approach, the market approach and the income approach. Valuation professionals routinely consider all three approaches before deciding which is most appropriate for the circumstances or choosing to use a blend of approaches. Some people mistakenly assume that the cost approach will always undervalue a business or business interest.
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.
From inspiring founder stories to valuable insights from investors, these 2024 Startup Success episodes are must-listens. The post Burklands Top Startup Podcast Episodes of 2024 appeared first on Burkland.
In a recent edition of Intuit's 'In The Know' webinar series, they recapped the latest demonstration on the 1099 enhancements available in QuickBooks Online Payroll. These updates have been designed to significantly streamline the preparation and filing of 1099s, enabling users to complete the process faster and more efficiently. Tiffany Dolan, who authored the recent product update, rejoined the show to walk us through the new enhancements.
Understanding and managing payroll taxes, particularly through Form 941, is a critical but often misunderstood part of running a business. This form, which employers must file quarterly, reports withheld income taxes, as well as Social Security and Medicare taxes for employees. Yet, even a minor error in this process can lead to significant financial and legal consequences.
If your business is particularly busy, you may temporarily outsource some of its work to third-party contractors. Hiring contractors can be a cost-effective way to manage seasonal or even ordinary customer demands without hiring new employees or making other long-term investments. However, third parties can introduce some financial, legal and reputational risks.
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.
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.
Seven of the states that are lowering their individual income taxes in 2025 have legislatures that are controlled by Republicans, as well as Republican governors.
The enforcement status of the CTA continues to shift following recent Fifth Circuit decisions. After initially granting the emergency motion to stay a nationwide injunction on December 23, the Fifth Circuit's merits panel reversed course.
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.
In the ever-evolving world of accounting and financial services, staying inspired and innovative is essential. Professionals often find motivation from peers, mentors, and thought leaders who push boundaries and redefine.
The move comes days after Bench left thousands of its customers scrambling before year end and with the 2025 tax season right around the corner by announcing Dec. 27 it was shutting down.
As a part of the Financial planning features available to QuickBooks Online Advanced users, a new 'Forecasts' functionality has been released. Presently it is available to all U.S. QBO-Advanced subscribers.
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.
“There are two types of companies: those who have been hacked, and those who don’t yet know they have been hacked.” This quote by John Chambers emphasizes that no organization.
When you own a small business, its important to have extra cash on hand to use for investing or paying your liabilities. But with money constantly coming in and going out, it can be difficult to monitor how much is leftover. Use a retained earnings formula to track how much your business has accumulated.
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.
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