Canopy Accounting
DECEMBER 18, 2024
In this episode of the Canopy Practice Success Podcast , host KC Brothers talks with Jen Hamilton, a former CPA turned Fractional COO. She shares her journey from traditional accounting to operational consulting, emphasizing the power of modern tools to boost productivity and elevate client service.
Accounting Today
DECEMBER 17, 2024
Independent CPA and accounting firms are showing new interest in employee ownership strategies.
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CPA Practice
DECEMBER 16, 2024
Savvy savers should plan ahead to help save more and avoid penalties and tricky tax situations. Here are five changes coming to IRAs and 401(k)s in 2025.
AccountingDepartment
DECEMBER 16, 2024
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.
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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
BurklandAssociates
DECEMBER 17, 2024
U.S. Tax Deadlines San Francisco Tax Deadlines New York Tax Deadlines Seattle Tax Deadlines 2025 U.S. Tax Deadlines for Startups JAN 31: R&D Tax Credit Form 941 to claim R&D Read More The post 2025 Tax Deadlines for Startups appeared first on Burkland.
ThomsonReuters
DECEMBER 16, 2024
Jump to 1. Use data encryption when working with clients 2. Implement access controls to use GenAI 3. Implement a quarterly security audit 4. What to consider when selecting the right technology 5. Provide security training as part of your firms annual curriculum 6. Minimize unnecessary data 7. Incorporate privacy considerations into the GenAI system 8.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
TaxConnex
DECEMBER 17, 2024
The excitement of years end can push all kinds of taxes to the back of your mind. But its a good idea to look out for how a new year can mean new sales tax obligations for you and your online business. Here are some common situations that can be exciting for your business and distracting for you and that can create sales tax risk. What should you watch for in 2025?
RogerRossmeisl
DECEMBER 17, 2024
The landscape of compliance with the Beneficial Ownership Information (BOI) Reporting requirement under the Corporate Transparency Act (CTA) has changed dramatically following a recent federal court decision. Heres what businesses need to know about the current status and next steps. Background on the Corporate Transparency Act The CTA mandates that certain businesses report detailed information about their beneficial owners, officers, and control persons to the Financial Crimes Enforcement Netw
Insightful Accountant
DECEMBER 16, 2024
The recent nationwide preliminary injunction against the Corporate Transparency Act (CTA) enforcement creates significant uncertainty for tax practitioners handling beneficial ownership information (BOI) reporting.
Acterys
DECEMBER 20, 2024
If the term “AI” catches your eye, it’s highly likely that ChatGPT comes to mind. And you would be absolutely correct in making that association. The launch of ChatGPT has taken the world by storm. Its success has kickstarted an AI race that has compelled almost every company to embed artificial intelligence and machine learning algorithms into their software architecture to mirror the same level of agility and productivity.
Advertiser: Paycor
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.
Withum
DECEMBER 18, 2024
The end of the year is a busy time for many of us. Preparing for the upcoming holidays, spending time with family and friends, and planning for the New Year take a lot of time and commitment. Countless to-do lists and responsibilities at home and work make the most wonderful time of the year more stressful than it needs to be. Finance teams planning for their year-end financial statement audit have an even longer list of things to think about at the end of the year, including income statements,
RogerRossmeisl
DECEMBER 15, 2024
Recently, a 401(k) plan participant was defrauded of approximately $740,000 when he fell victim to an elaborate scheme perpetrated by overseas criminals. However, even friends, family members and employers have been discovered stealing from 401(k) accounts, adding up to millions of dollars in losses every year. Heres what your organization can do to help keep your employees retirement savings safe from theft.
GrowthForceBlog
DECEMBER 19, 2024
7 min read December 18th, 2024 The process of closing out financial records is complex, and there are lots of places where nonprofit financial mistakes can occur. However, your final financial reports and records must be accurate and compliant. Key Takeaways 5 Common Year-End Financial Reporting Mistakes Nonprofits Should Avoid: In addition to recognizing pledged contributions at the correct time, nonprofits must also separate the revenue they receive into distinct categories.
Acterys
DECEMBER 19, 2024
Without a clear understanding of what your workforce is capable of today, planning for tomorrow becomes a guessing game. This is where workforce analysis becomes a game-changer transforming vague assumptions into informed decisions. Yet Gartner research reveals that only 8% of organizations have reliable data on the skills their workforce currently possesses and those that drive business success.
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.
Xero
DECEMBER 17, 2024
Itd be one thing if payroll year-end meant a single last pay run. But this busy period involves meeting multiple deadlines and submission dates, all while following HMRC rules. Whether youre a seasoned payroll manager or doing it for the first time, payroll year-end can be tricky. Heres a step-by-step guide to the process. What is HMRC payroll year-end?
RogerRossmeisl
DECEMBER 15, 2024
How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the dollar limitations for retirement plans, as well as other qualified plans, for 2025. With inflation easing, the amounts arent increasing as much as in recent years. 401(k) plans The 2025 contribution limit for employees who participate in 401(k) plans will increase to $23,500 (up from $23,000 in 2024).
Withum
DECEMBER 18, 2024
On Thursday, December 12, 2024, the Internal Revenue Service (IRS) released a fact sheet addressing Form 8275 and the disclosure of tax positions related to IRC section 280E. Form 8275 is used by taxpayers to disclose positions taken on tax returns for which substantial authority does not exist. Substantial authority is defined as a tax return position that has more than a 40% chance of success based upon its merits.
Patriot Software
DECEMBER 17, 2024
Accounting, taxes, and financial planning are tricky tasks to navigate, plain and simple. Thankfully, there are tools, like accounting software, you can use to streamline your responsibilities. But at some point, you might decide to hire an accountant for their professional guidance. Not sure if its time to hire an accountant for small business?
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.
ThomsonReuters
DECEMBER 19, 2024
Jump to Automating digital asset compliance workflows What can cryptocurrency tax software do? Strategic digital asset reporting implementation for tax professionals Act now and gain a competitive edge The tax landscape is evolving rapidly, especially with the emergence of digital assets like cryptocurrencies. As part of this evolution, the IRS has introduced new digital asset reporting regulations.
RogerRossmeisl
DECEMBER 15, 2024
When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses arent the only taxpayers that can deduct driving expenses on their returns. Individuals may also be able to deduct them in certain circumstances. Unfortunately, under current law, you may be unable to deduct as much as you could years ago.
Withum
DECEMBER 19, 2024
Many changes in technology over the past 30 years have affected how background investigations are conducted. Numerous types of documents, including, but not limited to, court records, bankruptcy filings, real estate records, employment histories, corporate filings, and professional licenses, are now available online or through proprietary databases.
Accounting Insight
DECEMBER 18, 2024
Why accurate, connected financial data drives business success The growing importance of data confidence in finance Accurate, real-time financial data has become essential to making sound decisions and driving strategic growth in the economic landscape of 2024. Yet, many finance leaders face significant challenges in achieving data confidence, due to outdated processes and fragmented systems.
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.
ThomsonReuters
DECEMBER 17, 2024
Blog home Companies on the fence about investing in Environmental, Social, and Governance (ESG) initiatives typically want to know three important things: Will the investment return value to shareholders in the long run? Where will the supposed cost savings and efficiencies gained from ESG investment come from? How will investing in ESG improve the companys profile and make it more competitive?
RogerRossmeisl
DECEMBER 15, 2024
If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also an option for self-employed individuals or business owners who wish to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan. A solo 401(k), also known as an individual 401(k), may offer advantages in terms of contributions, tax savings and investment options.
Withum
DECEMBER 20, 2024
The Client The client is a technology company that provides a streaming SQL database for real-time applications, live dashboards and streaming data pipelines. With a global presence and growing operations, the client faced various accounting challenges that required professional expertise to address. The Challenge The client faced several accounting challenges that needed to be addressed to ensure their financial records were accurate and compliant.
Going Concern
DECEMBER 20, 2024
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.
Advertiser: Paycor
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.
ThomsonReuters
DECEMBER 16, 2024
Jump to Understand the value of an advisory model Identify ideal clients for advisory services Convert clients from compliance to advisory Build long-term, meaningful relationships with clients The shifting dynamics in the accounting industry present an opportunity for small and midsized firms to gain a competitive edge by moving beyond traditional compliance tasks and embracing a more advisory-focused approach.
RogerRossmeisl
DECEMBER 15, 2024
Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a household employer, its critical to understand your tax obligations, commonly called the nanny tax. If you hire a household employee who isnt an independent contractor, you may be liable for federal income tax and other taxes (including state tax obligations).
Accounting Insight
DECEMBER 20, 2024
As the festive season approaches and businesses wrap up another financial year, the gift of insight is top of the wish list for UK finance leaders. However, new research from award-winning cloud accounting software provider, iplicit, reveals that finance teams may need more than the Christmas spirit to tackle the top challenges of 2025. Among the key concerns for finance leaders are cybersecurity threats (38%), economic volatility and its impact on financial decision-making (36%), and understand
Going Concern
DECEMBER 20, 2024
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.
Speaker: Cheryl J. Muldrew-McMurtry
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
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