ThomsonReuters

DECEMBER 16, 2024

Keep your clients updated with your data protection As the integration of generative AI (GenAI) technology becomes increasingly prevalent in the tax and accounting industry, ensuring data security is paramount. Incorporate privacy considerations into the GenAI system Only 9% of surveyed firms are using proprietary tax-specific GenAI tools.

Tax

CTP

MARCH 21, 2025

Business owners may not think to ask their tax planner for advice on business structures, but offering your expertise early in the process can help your clients save significantly on their tax bill down the road. In the case of partnerships, one of the main benefits is the ability to make special allocations.

Tax

TaxConnex

JUNE 19, 2025

Suddenly all states could require many remote sellers to collect and remit sales tax. Though marketplace facilitators and even some payment platforms have recently stepped up to help with sales tax obligations, eCommerce and sellers’ burden has only grown more complicated since 2018, with no end in sight. Overall complications.

Sales

Accounting Today

JUNE 12, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. The tax loss totaled $356,881. All rights reserved.

Tax

ThomsonReuters

FEBRUARY 4, 2025

Jump to Key areas where AI enhances tax services in large firms Barriers to AI adoption in large firms and overcoming them Embrace AI in your large firm for a competitive edge The tax and accounting industry is on the brink of a significant transformation, driven by the integration of artificial intelligence (AI) and generative AI (GenAI).

accounting firms

Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. The greatest variance in pricing was for tax planning and advisory services in particular. We know Big 4 and mid-tiers have this pricing thing down.

cost accounting

ThomsonReuters

JANUARY 13, 2025

Blog home In corporate tax departments, change comes in many forms. This blog will look at the main drivers of change in a business, successful strategies of change management to implement in your corporate tax department, and how leaders can address resistance to technological transformation. Everything, potentially.

corporation tax

Insightful Accountant

JUNE 9, 2025

Education Credits: Timing Is Everything The American Opportunity Tax Credit offers up to $2,500 per student for the first four years of undergraduate education, with 40% being refundable. Parents in higher tax brackets typically benefit more from claiming this credit than their newly graduated children.

tax planning

ThomsonReuters

OCTOBER 24, 2024

A recent  Thomson Reuters Institute survey  found that 95% of tax professionals believe their clients want at least some business advisory services. The key elements of an advisory proposal include: A summary : This should provide a brief overview and main points of the project. Analyze income tax consequences.

Maine

CPA Practice

NOVEMBER 8, 2024

Brian Tankersley, CPA, and Randy Johnston review TaxGPT , an AI-powered tax assistant for accountants & tax professionals. We’d like to talk about another AI based tax research tool called Tax GPT. Now tax GPT has a bit of a history. Randy Johnston 02:13 So how about the AI tax co pilot feature here?

Technology

CTP

APRIL 21, 2025

For those who are either interested in starting an NIL collective or have launched one but are still figuring out how to run it effectively, a strategic but often-overlooked next step is to develop a tax plan. The organization would be exempt from income tax, meaning that all earnings could go toward the team.

Tax

Accounting Today

JUNE 11, 2025

The shift signifies growing apprehension across Main Street accounting firms serving as advisors on tax, payroll and compliance decisions amid a backdrop of historic tariff actions, continued inflation and unpredictable tax and trade policies. All rights reserved.

Technology

ThomsonReuters

NOVEMBER 14, 2024

Application of predictive analytics in accounting : Firms use predictive analytics for cash flow estimates, tax impact forecasts, fraud detection, strategic decisions, and more. What are the main types of data analytics? What are the main types of data analytics? Jump to ↓ What is predictive modeling in accounting?

accounting firms

CPA Practice

NOVEMBER 22, 2024

Brian Tankersley, CPA, and Randy Johnston review Blue J , a generative AI platform for tax experts. With Blue J, professionals can complete hours of tax research in seconds. Blue J instantly delivers verifiable tax answers and drafts high-quality communications, so you can focus on creating exceptional client experiences.

Technology

Going Concern

JANUARY 6, 2025

One of the partners thrown under the bus post-tax scandal by PwC Australia has cleared his name : The main disciplinary body for the big four accounting firms has dropped an investigation into a former PwC partner forced out by the firm after being linked to its tax leaks scandal.

Account

CPA Practice

NOVEMBER 19, 2024

The Main Street Alliance and Small Business Majority have launched the Small Business Tax Fairness Coalition (SBTF), a national initiative to advocate for a U.S. tax code that prioritizes the needs of America’s entrepreneurs. of recipients—primarily white-owned firms—leaving many small, minority-owned businesses behind.

Maine

CTP

MARCH 21, 2025

When you are starting a new business or attempting to reduce the tax bill for your existing business, how do you decide which entity type is right for you? Partnerships offer a high level of flexibility and significant tax advantages that dont come with other entity types. What is a Special Allocation? So how exactly do they work?

Tax

Going Concern

JANUARY 3, 2025

The San Francisco-based HR tech company Employer.com focuses on payroll and onboarding, in contrast to Bench, which specializes in accounting and tax. The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices.

auditor

MyIRSRelief

APRIL 25, 2025

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? How serious is this problem?

Ohio

Menzies

DECEMBER 19, 2024

Exampl e The tax impact is shown as below where the full 50% first year allowance is available: Solar panels cost 60,000 50% super-deduction (30,000) Total relief/tax deduction 30,000 In the above example, 6% of the remaining amount (i.e., 30,000) can be claimed each year until the asset is fully written down to nil.

Tax

CTP

MARCH 24, 2025

The Tax Cuts and Jobs Act (TCJA) brought about far-reaching changes in the world of tax law. Though recent conversations have fixated on the soon-to-expire tax provisions, TCJA also introduced permanent changes that tax professionals can lean on to bring tax savings to their clients.

Tax

Insightful Accountant

JUNE 11, 2025

Document Management : Utilize a virtual drive with tax software integration for secure document exchange. This AI-native solution seamlessly integrates all essential firm operations, ranging from CRM and billing to document management and client communication, into a unified, intelligent ecosystem.

general ledger

Insightful Accountant

JUNE 6, 2025

Skip to main content Search Learn More About Our Premium Content | Subscribe To Our Newsletters facebook twitter youtube linkedin instagram RSS Accounting Platforms General Ledger Payroll & Merchant Services Vendor Corner APPS Directory Top ProAdvisor Awards Top ProAdvisor Awards People & Business Practice Management APP Academy Tax Practice (..)

general ledger

Withum

DECEMBER 11, 2024

2024 Year-End Tax Planning Resources Nows the time to review your year-end tax planning options and strategies for the 2024 tax season. Withums Year-End Tax Planning Resource Center offers tips, legislative updates, and tax-saving opportunities for individuals and businesses.

E-commerce

Accounting Today

JUNE 13, 2025

Some of the main challenges faced by firms include economic uncertainty (38%), mastering AI (36%) and rising client expectations for strategic advice (35%). By Chris Gaetano 11h ago Tax-related court cases Tax Fraud Blotter: Sick excuses By any other name; poor Service; a saga continues; and other highlights of recent tax cases.

Technology

Menzies

OCTOBER 30, 2024

Main Initiatives Manufacturers operating in the following areas of specialism could stand to gain from specific initiatives: Committing £975 million in R&D funding for the aerospace sector over five years. Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years.

Manufacturing

TaxConnex

MARCH 6, 2025

Youd think that if you eat it, its sales tax treatment would be the same at least similar across different states and given methods of preparation of the food. Pre-packaged food such as canned drinks, bottled beverages, packaged snacks, frozen meals and canned products can also be groceries for purposes of sales tax.

Sales

CPA Practice

NOVEMBER 27, 2024

Avoid the risk of burnout: Flexible schedules can help mitigate stress during high-demand periods, like tax season, audit season and the year-end close. In a Robert Half survey, over one-third of workers (35%) said the main reason they are looking for a new job is to gain better benefits and perks.

cpa firm

CPA Practice

NOVEMBER 19, 2024

In the accounting world, burnout is especially common during tax busy season. Tax season often feels like a “necessary evil” for the success of your firm, bringing with it a lot of stress. By stepping up your planning and management game, you can take control and make tax season more manageable.

Tax

Basis 365

APRIL 15, 2025

There are two main methods of preparing the Statement of Cash Flows: Direct Method : Lists all cash receipts and payments explicitly, providing detailed insight but requiring extensive record-keeping. Tax accountants are experts at converting accrual numbers to cash-based numbers specifically for tax reporting.

accrual accounting

CPA Practice

OCTOBER 23, 2024

Small and midsized businesses are facing growing staffing challenges, as rising business costs and economic conditions are prompting potential layoffs, according to the Fall 2024 Main Street Index from top 15 accounting firm CBIZ. While the top tactics remain the same as the accounting firm’s Summer Main Street Index, there was a 4.1%

Healthcare

ThomsonReuters

DECEMBER 27, 2024

Managing crypto compliance While capital gains and losses are significant for tax compliance, auditors must also consider the broader implications of crypto events and transactions for financial statement (GAAP) reporting. Here’s what to look for in cryptocurrency audit software : AICPA SOC 1 & 2 audited tax software.

audit

Accounting Today

JULY 28, 2025

I think the main challenges that we face in achieving this growth has more to do with the ability to continue to have the leaders step up in what they do and to have the systems support that growth," said CEO Sean Taylor. "So You know, Im just doing a tax return or Im just doing this. All rights reserved. Im not worth it.

Technology

CPA Practice

JUNE 30, 2025

From tax prep to asset management, invoicing and portals, and auditing to remote CFO functions, the services the accounting and tax pros provide are dependent on the technologies they use. The awards highlight the most useful technology for firms and clients.

Technology

Accounting Seed

NOVEMBER 21, 2024

Understanding accounting needs for nonprofits Bookkeeping, grant funding, payroll, taxes, audits—these are just some of the most common challenges that nonprofit organizations face on a regular basis. Accounting Seed’s main features are AR and AP automation. Put more time back into your day with accounting automation.

accounting software

Withum

MAY 16, 2025

When companies are faced with new tariffs or increases to existing ones, there are three main routes to consider recovery, deferral or mitigation. Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape.

Manufacturing

Accounting Today

JUNE 6, 2025

The company also announced new tax workflows and features. All rights reserved. Accountants previously using Paychexs AccountantHQ can now access the functionality of Paychex Flex through a dashboard with simplified workflows, providing an experience that matches what their clients see.

Technology