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The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and its set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. MTD for IT filing will be available in all Xero business plans.)
In 2025, prosperity isnt about having it allits about keeping afloat, having enough, and knowing how to manage money well. This Financial Literacy Month, our 2025 Prosperity Index reveals whats truly top of mind for young adultsand how theyre rewriting the rules of financial success today. Respondents received remuneration.
UK: Streamlined tax workflow and compliance We’ve made Xero even better with some UK tax enhancements designed to save you time and reduce errors. Plus, you can now set up and manage practice government gateway IDs for Xero Tax in one location. Relax and enjoy seamless compliance with the new regulations.
CPAs know the drill: taxes, compliance, rinse, repeat. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist. . 📆 March 13, 2025 at 9:30am PT, 12:30pm ET, 5:30pm GMT
Its been a massive start to 2025! We also heard your feedback, and so now you can automatically prepare partnership annual accounts and tax returns using Xero data and seamlessly file them with HMRC (read more in the previous edition of Whats New). In February , we shared enhancements weve made to invoicing.
The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.
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. by 2035, KPMGs 2025 Futures Report found. All rights reserved.
But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. August 26th, 2025 at 9:30 AM PDT, 12:30 PM EDT, 5:30 PM BST Register today!
The Top 15 Accounting Conferences to Attend in 2025 Staying ahead in the finance industry takes more than just crunching numbers. These events bring together top minds in tax, audit, and financial technology, offering insights that can shape the future of your career. That’s where accounting conferences come in.
The 2025 Avalara Accountants Confidence Report , produced by Avalara in conjunction with CPA Trendlines, polled 623 accounting professionals and found a shift from cautious optimism to greater pessimism, thanks to various economic pressures and policy uncertainty. All rights reserved. EDT 3 Min Read Facebook Twitter LinkedIn Email U.S.
EDT 6 Min Read Facebook Twitter LinkedIn Email Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases. CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. .:
A relatively smooth filing season offered a lot to learn about the future of the IRS, the importance of tax planning, changes in liability patterns, and more.
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.
It’s part of Malaysia’s broader digital transformation strategy to promote transparency, reduce tax evasion, and improve the efficiency of financial processes. Phase 2: Businesses with an annual turnover between RM25 million and RM100 million will need to comply starting 1 January 2025.
With another tax year almost wrapped up, are you ready to tackle year-end payroll? Finalising your 2024/2025tax year Wrap up outstanding items Before processing your last pay run for the 2024/25 tax year, approve any outstanding leave requests, timesheets and overtime to ensure your employees’ final pay is accurate.
The 2025 Financial Year is almost at an end, so there has never been a better time to prepare. Whether this is your first payroll finalisation, or your hundredth, blast past your tax time stress by following our handy list of steps. A great first step on your EOFY preparation journey is to review your payroll finalisation.
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.
Payroll year-end is when a business finalises payroll records for the tax year. Think of it as closing out your payroll for the period: youre reporting to HMRC the total amount youve paid your employees and the deductions youve made, which is necessary admin before starting a new tax year. A step-by-step guide to year-end 1.
Bloomberg Tax & Accounting projects that inflation-adjusted amounts in the Tax Code will increase 2.8% in 2025 — roughly half the increase in 2024 and down from 7.1% in 2023.
If the thought of lodging your tax return makes your palms sweaty and you find yourself procrastinating to avoid the inevitable, youre not alone. Xeros latest research has found nearly three quarters of Australians are worried or anxious about tax time this year. Tax deductions are a key area of confusion. For Australias 2.6
From those with no individual income tax at all, to those with complex tax structures a guide to most and least competitive states when it comes to individual income taxes.
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Welcome to 2025, where younger generations are prioritizing wellness over wealthspecifically, financial wellness. Having a clear plan of action , along with researching available tax deductions and credits , can significantly aid your path to homeownership and ensure you are making the most financially sound decisions on your journey.
Project teams used AI agents to make our products faster and easier to use, from onboarding new QuickBooks Online customers, to automating routine administrative tasks for tax professionals, to navigating the complexities of credit card and auto insurance marketplaces.
Heres why you should join us on 14-15 May at Accountex 2025. Our 2025 focus is about empowering you to build a more efficient practice. The post Reasons to come and visit Xero at Accountex London 2025 appeared first on Xero Blog. Wed love to invite you to a partner networking breakfast over the two days. Secure your ticket now.
As we navigate through 2025, several significant tax changes have taken effect in California, impacting individuals, businesses, and specific industries.Here's an overview of the key updates:1. Additionally, a 1% mental health services tax applies to taxable income exceeding $1 million, bringing the top marginal rate to 13.3%.2.
By leveraging Intuits AI-driven expert platform, millions of Amazon sellers will be able to discover and access Intuits platform seamlessly, benefiting from powerful financial insights like profitability, cash flow, and estimated tax liabilities to fuel their growth. with international availability to follow.
The amount individuals can contribute to their 401(k) plans in 2025 has increased by $500 to $23,500, up from $23,000 for 2024, but the IRA limit remains $7,000.
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