This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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.
EDT 1 Min Read Facebook Twitter LinkedIn Email Andrew Harrer/Bloomberg Tax year 2026 and filing season 2027 are the target date for retiring the Filing Information Returns Electronic, or FIRE, system. The IRS is encouraging tax preparers to complete their IRIS applications to begin transitioning for the 2027 season.
OBannon A new study from Thomson Reuters comes with a stark warning to the tax and accounting industry: firms without artificial intelligence strategies could fall irrevocably behind in the next 12 months as competing firms leverage the technology to transform faster, serve better, and hire smarter.
OBannon The Sales Tax Sisters, Mary Thomas (Attorney and CPA) and Stephanie Thomas (CPA), are excited to announce their partnership with Roundtable Labs to launch The Sales Tax Hive , a new roundtable community designed exclusively for bookkeepers, accountants, and finance professionals navigating the complexities of sales and use tax.
OBannon The Internal Revenue Service and its Security Summit partners are reminding tax professionals about the federal mandate to have a Written Information Security Plan (WISP) designed to help protect them against threats from identity thieves and data breaches. IRS provides resources to help with this process.
The firm will be fully integrating agentic AI into RSMs assurance, tax and consulting services; empowering RSM talent with agentic AI tools to heighten productivity and professional growth; and expanding agentic AI-driven solutions to elevate the overall client experience. All rights reserved.
We must confront a critical question: If we continue to train accountants solely to file tax reports, are we truly equipping them for the challenges of todays world? All rights reserved. Yet, in many areas, accounting education stubbornly clings to outdated, overly technical models that fail to connect with the actual demands of the market.
By Chris Gaetano 1m ago Tax-related court cases Tax Fraud Blotter: Boundless energy Another Naughty list; a couple of sharks; Miami vice; and other highlights of recent tax cases. All rights reserved.
3 to file various federal individual and business returns and make tax payments. 3 to file various federal individual and business returns and make tax payments. The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) All rights reserved. 15, 2025. 31, 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.
The link between value and pricing: Tax firms need to recognize that pricing should reflect the value of services and the outcomes they deliver, not just the time spent. Pricing a firm’s strategies for growth: Subscription-based pricing models can lead to consistent revenue growth and better cash flow management.
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.
Jump to ↓ The current tax landscape Democratic and Republican Party taxplans Strategic planning amidst tax uncertainty In today’s dynamic political and economic environment, understanding the intricacies of tax policy has become more crucial than ever. election promises further potential shifts.
Accounting Technology Fraud prevention Fraud MORE FROM ACCOUNTING TODAY Practice management BDO names Matt Becker next CEO Matthew Becker, BDO USAs national managing principal of tax, has been ratified by a principal-wide vote to succeed Wayne Berson as the firms next CEO, effective July 1, 2026. All rights reserved.
The subscription-like nature of tax, audit, and advisory services makes these firms attractive to investors seeking long-term, stable returns. C. New Leadership Models in the CPA Profession Traditionally, the key person in a CPA firm was the individual handling the technical work—whether tax preparation or auditing.
Paradoxically, vulnerability had given him back control — but it also opened up a whole set of questions about his professional career, including his role as managing partner of Tri-Merit Specialty Tax Services (a tax advisory firm that also hosts Bridging the Gap). "I All rights reserved. he asked.
EDT 1 Min Read Facebook Twitter LinkedIn Email Tax management platform Instead launched artificial intelligence-driven tax reports, harnessing AI to analyze full tax returns to glean tax strategies and missed opportunities. All rights reserved.
By Danielle Lee 1h ago Technology Tech news: TaxPlanIQ adds new features Plus, Ignition announces plans for AI pricing solution; Financial Cents introduces advanced reporting features; and other accounting tech news. All rights reserved. By Michael Cohn June 12 Like what you see?
Accountants can explore insights on workforce trends, tax and legislative updates, client advisory strategies, and firm management best practices—all crafted by ADP subject matter experts. The launch reinforces ADP’s long-standing support for the accounting community through flexible tools and deep industry expertise.
They are blessed to have a culture (The Wipfli Way) where everyone trusts and respects each other and they are all about value added services for their clients (I should know, Im a happy outsourced accounting and tax client!)." All rights reserved. The firm dates back over a century and is moving into a new phase with the PE investment.
Whether you’re advising on tax strategy, audit readiness, profitability or business continuity, your ability to build trust will set you apart in a profession where more and more compliance work is being automated. Now is the time to strengthen the human side of your client relationships. Ask deeper questions. Anticipate their worries.
OBannon In the first half of 2025, states made 408 sales tax rate changes and new rates – a 24% increase compared to the first half of 2024 – as many local governments continue to grapple with the state of the economy and generating revenue. a provider of indirect tax solutions. Rates and Rules Report from Vertex Inc. ,
My firms compensation data, collected in 2024 and 2025, shows that accounting firms paid 7% more to bring in outside senior analysts in tax and audit than they paid internal staff in the same positions. Back when I was initially analyzing the data around the "loyalty tax," I posted a chart breaking down this trend on a Reddit thread.
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.
Accounting Accounting education CAS Technology Accounting students MORE FROM ACCOUNTING TODAY Tax-related court cases Tax Fraud Blotter: Prep perps Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases. All rights reserved. By Editorial Staff June 5 Like what you see?
TaxPlanIQ adds new features Pavel Bolotov/pashabo - stock.adobe.com Taxplanning solutions provider TaxPlanIQ rolled out several new features. A redesigned client management portal gives clients easier access to their plans and action items. All rights reserved. Another feature will auto-redact client information on upload.
In her new role, Jennifer will oversee the equity management, lease lifecycle management, and tax reporting solutions, enhancing insightsoftware’s ability to deliver trusted and effective solutions for its customers. Most recently, she served as president of North America at QuickFee, a payment technology platform.
Ian Vacin First introduced in 2018, the Ignition/Karbon integration is already used by accounting and tax firms of all sizes. A webinar about the integration will be held on July 10. A two-way continuous data sync keeps records up to date and reduces onboarding errors. Click here for more information and to register.
EDT 4 Min Read Facebook Twitter LinkedIn Email Business owners who employ their children in a reasonable but limited capacity at their firms can rake in tax savings and start their kids first retirement accounts in the process. All rights reserved.
The state and local tax (SALT) deduction has been a fixture of the U.S. tax code for many years, providing significant financial benefits to a large number of taxpayers. The current SALT cap, which applies to tax years 2018-2025, is set at $10,000 ($5,000 if married filing separately). Jump to ↓ What is the current SALT cap?
Audit PCAOB Audit preparation MORE FROM ACCOUNTING TODAY Tax One Big Beautiful Bill full of impactful tax provisions The bill, whose revised text was just released by the Senate, includes a number of significant tax provisions for both corporate taxpayers and nonprofits. All rights reserved.
2 to file various federal individual and business returns and make tax payments. 2 to file various federal individual and business returns and make tax payments. The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page. Quarterly estimated income tax payments normally due on Sept.
← Blog home As a new presidential administration takes shape, the potential for substantial shifts in tax laws and other financial regulations is top of mind for auditors. Disclosure requirements for tax rate changes 4. Consider a tax specialist to help manage complexity 5. Deferred tax assets and liabilities.
By Danielle Lee 10h ago Technology Tech news: TaxPlanIQ adds new features Plus, Ignition announces plans for AI pricing solution; Financial Cents introduces advanced reporting features; and other accounting tech news. All rights reserved. By Jeff Stimpson June 12 Like what you see?
Jason Bramwell Accounting practice management platform Canopy on July 22 launched Smart Intake, a native solution that automates client intake and tax workflow with AI-powered questionnaires, featuring intelligent prefill, document checklists, and real-time customer relationship management data sync.
Accountants manage a high volume of sensitive information daily, covering everything from client tax details and payroll reports to audit documentation and financial disclosures. Without the right systems in place, even routine tasks like expense approvals or tax submissions can become time-consuming and error-prone.
Tax professionals gear up for a mad dash, auditors dive into quarter-end chaos, while leadership scrambles to balance capacity with unpredictable workloads. But the once-effective model of heavy lifting during tax season followed by a revenue drought isnt just outdated — its increasingly unsustainable. All rights reserved.
Jason Bramwell Technology July 22, 2025 Sovos Unveils AI-Powered Tax Compliance Intelligence Solution Sovos on July 22 announced Sovos Intelligence, an AI-powered tax compliance intelligence solution that enables companies to get real-time insights on transactions and tax data.
EDT 3 Min Read Facebook Twitter LinkedIn Email By now, anyone reading this column has heard enough about the historic set of challenges confronting tax and accounting firms. According to our recent 2025 State of Tax Professionals Report , which surveyed 639 respondents from tax, audit and accounting firms of all sizes, the No.
Becker , national managing principal of tax, has been ratified by a principal-wide vote to serve as the firm’s next Chief Executive Officer, effective July 1, 2026. He joined BDO in 2002, became a tax partner in 2005, and assumed the role of national managing principal in 2019.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content