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Featured….
Nominations Open for 2025 “Most Powerful Women in Accounting” Awards
Starting in 2025, the IRS Will Accept Duplicate Dependent Returns With an IP PIN
House Tax-Exempt Crackdown Bill Passes Despite Democrat Defections
Retailers Tell Senate Credit Card ‘Swipe’ Fees are ‘Adding Inflationary Pressure to the U.S. Economy’
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
CPE Webinar: Top 10 Payroll Tasks to Prepare for Year-End
CPE Webcast Dec. 12 – Transforming Sales Tax Compliance to Fuel Business Growth
Events….
Accounting
Intuit Connect 2024 – Oct. 28-30
Get inspired by influential speakers and expert-led sessions on topics such as QuickBooks tools and services, Mailchimp, firm growth, client advisory, and more.
SYNERGY 2024 Conference – Nov. 6-9, 2024
From AI-driven solutions to cutting-edge advancements in digital transformation, find out what’s next from Thomson Reuters at SYNERGY 2024
Ensuring Success 2024 – CPAs Can Earn Up to 14 Hours of Free CPE in December
The end of the year is almost here, and that means you need to check if you have all of your CPE completed. A lot of us have just gotten out of extension season, then the election, but if you need more CPE, Ensuring Success is an easy way to earn up to 14 hours of CPE credits in 2 days, from your own office or laptop. And it’s free.
Accounting
CPE Sessions Announced for Ensuring Success
On Dec. 18-19, professionals can earn up to 14 hours of free CPE credit, with 7 sessions each day. Pick the ones you want or stay for all of them.
Accounting
Nominations Open for 2025 “Most Powerful Women in Accounting” Awards
The Most Powerful Women in Accounting Awards, now in their 12th year, were created by CPA Practice Advisor to promote and support the success of women leaders as part of its broader mission of sustaining the profession.
Taxes
Starting in 2025, the IRS Will Accept Duplicate Dependent Returns With an IP PIN
Filers who claim tax credits like the Earned Income Tax Credit and Child Tax Credit will especially benefit from this change, the IRS said.
Taxes
House Tax-Exempt Crackdown Bill Passes Despite Democrat Defections
Fears of a vengeful Donald Trump caused dozens of House Democrats to rethink prior support for the legislation.
Small Business
Retailers Tell Senate Credit Card ‘Swipe’ Fees are ‘Adding Inflationary Pressure to the U.S. Economy’
Credit card rewards would not be affected because those are determined by banks that issue cards, not the networks that process transactions.
Small Business
The Top Toys and Gifts for the 2025 Christmas and Holiday Season
NRF forecast earlier this month that holiday spending is expected to reach record levels during November and December and will grow between 2.5% and 3.5%, totaling $979.5 billion to $989 billion.
Auditing
PCAOB Rule Change Creates Procedure to Revoke Delinquent Firms’ Registrations
Audit firms that don’t file annual reports and have neglected to pay their annual fees for two straight years would be targeted.
Technology
BlackLine Launches Studio360 Platform
The Studio360 platform reduces system and data complexity and enables real-time insights for accounting and finance teams.
Payroll
Bipartisan Bill Would Boost Monthly Social Security Benefits for 2.5M Americans
The House of Representatives last week overwhelmingly passed the Social Security Fairness Act, which now heads to the Senate.
Accounting
HubSync Ranked No. 221 Fastest-Growing Company in North America on 2024 Deloitte Technology Fast 500
Overall, 2024 Technology Fast 500 companies achieved revenue growth ranging from 201% to 186,373% over the three-year time frame, with an average growth rate of 2,100% and median growth rate of 460%.
Taxes
Treasury, IRS Final Regs on Direct Pay Expand Clean Energy Tax Credit Access
The rules provide more flexibility for direct pay-eligible entities that want to jointly invest in clean energy projects, Treasury says.
Small Business
Avalara Unveils Intelligent Tax Content Solution for Lodging and Hospitality
ATC for Lodging gathers, processes and organizes lodging tax data specifically for the lodging and hospitality industries – making it the ideal solution for organizations that require lodging tax content for tax calculations.
Firm Management
Survey: Over Half of Accounting Firms Plan to Increase Fees in 2025
Most firms are planning to raise fees across services by 5% or 10% due to rising business costs, according to the Ignition report.
Firm Management
Andersen Advances Global Valuation Practice in 10 Asia Pacific Countries
Andersen has added collaborating firms in Australia, China, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Small Business
81% of Business Owners Have Some Optimism for 2025 Economic Outlook
The survey, which polled more than 275 executives across the public and private middle market, looks into the key trends, challenges and successes that businesses are set to experience in 2025.
Firm Management
Opsahl Dawson Merges in Hauser Jones & Sas
The combination expands the top 300 firm’s presence into Bellevue, joining its three other offices in the state of Washington.
Small Business
Intuit Assist for QuickBooks Adds Gen-AI Financial Assistant to Power Business Growth
Intuit’s AI-driven expert platform is embedded in the company’s products, including QuickBooks, TurboTax, Credit Karma, and Mailchimp.
Firm Management
Bridging the Accounting Profession’s Generational Gap Requires Purpose-Driven Strategy Steeped in Innovation and Adaptability
Young team members are crucial for long-term viability, bringing fresh perspectives that propel the sector forward.
Small Business
Fiserv and ADP Team Up for Small Business Management
ADP and Fiserv will offer U.S.-based small businesses access to an integrated, all-in-one solution combining the full power of RUN Powered by ADP and the Clover small business management platform.
Technology
TaxPlanIQ Unveils Value-Based Pricing Tool For Accounting Firms
Firms can use the free tool to price advisory services like tax planning and CFO support based on measurable client outcomes.
Firm Management
How Accounting and Tax Firm Owners Can Prevent Burnout
Here’s how reducing burnout can lead to higher-value clients and, thus, help to scale your accounting and/or tax business.
Taxes
Japanese Restaurant Owner Avoids Raw Tax Deal
A taxpayer in a recent Tax Court case tried to use the “Cohen rule” from an age-old case to escape out of a tax jam.
Taxes
Intuit and H&R Block Stocks Fall on Report of ‘DOGE’ Interest in Tax App
The Washington Post reported that leaders of the new “Department of Government Efficiency” have discussed creating a tax filing app.
Deloitte Announces New Workiva ESG Accelerators to Help Streamline CSRD Compliance
The new Deloitte-built accelerators are offered along with Deloitte’s advisory services and are designed to help expand and enhance organizations’ sustainability-focused governance, risk and compliance (GRC) controls.
Accounting
Stacking CPA and CMA Credentials Is an Investment for a Career-Long Payoff
The CPA and CMA brands do more than strengthen the initial impression others will have of you. Achieving the right professional credential also builds your bench strength, or your ability to step in and tackle greater responsibilities.
Auditing
Disclosures Regarding Audit Firm Oversight Have Plateaued, CAQ Report Finds
The Audit Committee Transparency Barometer Report emphasizes the need for audit committees to raise the bar with their disclosures.
Accounting
FASB Looks to Add New Guidance on How Businesses Account For Government Grants
The proposal would establish rules on the recognition, measurement, and presentation of a government grant received by a business.
Firm Management
Doeren Mayhew Adds BHT&D in Michigan
The PE-backed top 60 firm has expanded its footprint in western Michigan by acquiring BHT&D, a full-service CPA firm.
Payroll
Job Market is Turning Chilly For Recent College Graduates
The numbers illustrate the growing difficulty for recent graduates—aged between 22 and 27—of gaining a foothold in the labor market.
Auditing
Beyond AI Hype: Why Data is Your Next Smart Move
Accounting firms that will lead the future of audit are the ones ensuring they have the standardized, flowing data needed to power it.
Small Business
Main Street Alliance and Small Business Majority Team Up For Tax Fairness
The groups have formed the Small Business Tax Fairness Coalition, advocating for a tax code that prioritizes entrepreneurs’ needs.
Firm Management
CRI Goes Down the Private Equity Path For Growth
The top 25 accounting firm has wrapped up a deal with investment firm Centerbridge Partners and VC firm Bessemer Venture Partners.