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Your accounting firm’s to-do list is growing faster than your team can handle. Client demands are increasing, regulations are shifting weekly, and finding qualified staff feels impossible.
The IRS advises taxpayers to choose tax professionals wisely to avoid fraud and identity theft, offering tools like the Directory of Federal Tax Return Preparers. Key tips include checking for a valid PTIN and avoiding “ghost” preparers.
The IRS has reminded disaster-area taxpayers that 2023 returns are due by Feb. 3, 2025, for some regions, and by May 1, 2025, for others. Affected taxpayers automatically receive extensions. Payments on 2023 returns are not included
Tax season represents more than just a busy period for CPA firms—it’s a critical inflection point that can define a firm’s success or struggle in today’s competitive landscape. With the Internal Revenue Service reporting record-high tax filing complexities and an increasingly sophisticated client base demanding faster turnaround times, traditional in-house approaches are being pushed to their limits.
Did you know that 58% of large organizations worldwide are employing cloud accounting for their businesses?
In the dynamic business world, performing accurate business valuation is of paramount importance. Whether it is mergers and acquisitions, strategic planning, or financial reporting, all require a comprehensive understanding of the firm’s value.
In today’s world, where costs are soaring, and individuals are saving less per one of the reports by CNBC, the retirement phase seems a bit daunting and dark to most individuals. This is because the journey toward secure retirement calls for prudent decision-making that requires expert intervention and support, which clients are now essentially looking for.
Once a stalwart of the accounting industry, legacy systems today struggle to meet the dynamic needs of the marketplace. Their inherent limitation in integration, scalability, and data analytics capabilities, which play a pivotal role for any firm, further makes legacy accounting software a big no for the industry.
In the wealth management realm for high-net-worth individuals (HNIs), strategic financial planning goes over and beyond mere accumulation. Rather it involves meticulous asset orchestration and tax strategies that can help these individuals optimize financial outcomes efficiently.
With technological advancement at its peak, even tech-averse souls can be seen using various apps to simplify their work, streamline processes, and improve client relationships. Today, apps have become an integral part of almost all industries, including accounting. In fact, according to a report by the Thomson Reuters Institute, 30% of tax and accounting firms are focusing on using varied apps and tools to boost productivity in the competitive market arena.