Mon.Mar 17, 2025

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IRS approaching major layoffs, cuts as tax season heats up

Accounting Today

This month, the Internal Revenue Service is predicting a rise in tax scams for 2025, and added four new eligible counties for foreign income exclusion.

Tax 277
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Why Manual Invoice Processing Is Costing Your School More Than You Think

Compleatable

Managing school and MAT (Multi-Academy Trust) finances is challenging, especially with increasing financial pressures. Keeping costs under control is a priority, but many schools dont realise how much their current invoice processing methods are draining their budgets. Manual invoice handling is still common in education, yet it comes with hidden costs, errors, and inefficiencies that can have a serious impact on financial management.

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How To Calculate Useful Life of an Asset for Tax & GAAP

Fit Small Business

There is no definitive way or mathematical model to solve how to calculate the useful life of an asset?, as the calculation varies depending on whether you follow IRS tax regulations or GAAP guidelines. As such, I’ll go over how to determine the useful life of an asset for two purposes: tax depreciation and financial. The post How To Calculate Useful Life of an Asset for Tax & GAAP appeared first on Fit Small Business.

Tax 83
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The tax advantages of charitable remainder trusts — and the risks

Accounting Today

Acronyms like CRT, CRAT, CRUT and NICRUT could have many clients' heads spinning. Here's a guide to the key pros and cons for financial advisors to consider.

Tax 147
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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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QBO Cleanup: The diagnostic skills every bookkeeper should know

5 Minute Bookkeeping

If youve ever opened a clients QuickBooks file only to find a mess of uncategorized transactions, undeposited funds, unapplied payments, or miscategorized expensesyoure not alone. Its easy to feel overwhelmed. But the ability to diagnose these issues is what truly sets great bookkeepers apart. Its more than just identifying errors; its about understanding the root cause and knowing exactly how to fix it.

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Small business owners run into IRS tax deadlines

Accounting Today

Small businesses may have been caught unawares by the earlier tax deadline for filing their taxes, but they can still file for an extension.

Tax 130

More Trending

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Art of Accounting: I practice what I preach

Accounting Today

Take the long view with your practice and don't miss any opportunity to train a staff person properly, as shown in these three memorable anecdotes.

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Average PTO in the US: What Small Businesses Need to Know

Fit Small Business

Paid time off, or PTO, has evolved beyond simple vacation time to become a key element of an employees benefits package. In today’s job market, offering attractive PTO options is almost as essential as providing comprehensive health insurance. Understanding what is the average PTO in the US is crucial for businesses to attract and retain. The post Average PTO in the US: What Small Businesses Need to Know appeared first on Fit Small Business.

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How GenAI is reshaping investment accounting

Accounting Today

To prepare for a GenAI-driven future, businesses must maintain impeccable, validated and standardized investment data.

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The Broken CPA Exam: Why Pass Rates Are Collapsing and How to Fix It

Cloud Accounting Podcast

Is the CPA exam fundamentally flawed? With FAR section pass rates plummeting to a 15-year low of 36% and a staggering 40-point gap between discipline section pass rates, something isn't adding up. Dr. Josh McGowan of Troy University joins Blake Oliver to dissect these troubling statistics and explore how the 2024 CPA Evolution model may be inadvertently pushing candidates toward "easier" disciplines.

CPA 40
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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Polls Remain Open for 2025 ProAdvisor Awards - Vote Today

Insightful Accountant

Have you voted for the 2025 ProAdvisor Awards? More than 3000 votes have already been cast for this year's candidates for both U.S. and International award candidates. Don't miss the opportunity to vote for the awards.

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IRS suffers another $20B budget cut

Accounting Today

The continuing resolution that the Senate narrowly approved included a $20.2 billion cut in the Internal Revenue Service's budget, the third such cut since 2023.

Budgeting 282
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Promoting Workplace Wellbeing to Your Clients: A Strategic Opportunity for Accounting and Tax Professionals

Insightful Accountant

As owners of accounting firms and tax practices, you're uniquely positioned to guide clients beyond compliance and into strategic business enhancement. The emerging research on workplace wellbeing presents a compelling opportunity.

Tax 52
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Trump signs government funding bill to avert federal shutdown

Accounting Today

The stopgap funding bill paves the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.

Billing 162
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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.