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EDT 3 Min Read Facebook Twitter LinkedIn Email The accountant the world urgently needs has evolved far beyond the traditional role we recognized just a few years ago. Yet, in many areas, accounting education stubbornly clings to outdated, overly technical models that fail to connect with the actual demands of the market.
The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. What this means for accountantsAccountants can play a crucial role in supporting businesses as they comply with the new climate reporting requirements. In the end, it’s just maths. There’s something for everyone.
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. Streamlined compliance with Xero Tax: Take control of accounts and tax returns ( Learn more about Xero Tax here.) Whats next?
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth.
From April 2026, small businesses, sole traders and landlords will need to change how they report income tax to HMRC. Anyone with an annual turnover of over 50,000 for the tax 24/25 year will need to start complying from April 2026. For many businesses, MTD for IT may mean investing in digital software or technology for the first time.
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. All rights reserved. FIRE will not be available for submissions in filing season 2027.
Accountants are central to bridging this gap. Without active accountant involvement, organizations risk over-relying on passive technological defenses. Accountants who grasp these behavioral dynamics are better equipped to lead businesses through the emotional and operational challenges of building stronger defenses.
Double-check payroll reportings Review key reports like the P32, P11s, Gross to Net, and Account Transactions to ensure your posted pay runs are reconciled. Employers wont need to include loans or accommodation in payroll right away, this will be optional from April 2026. More information on this announcement can be found here.
Sovos ( [link] ): The IRS will decommission the Filing Information Returns Electronically system in January 2027; all 2026 returns will need to use the new IRS Information Returns Intake System. All rights reserved. The window for preparation is closing fast. A recent paper examines how uncertainty is suggested again by Zilka v.
Matthew Becker, BDO USA's national managing principal of tax, has been ratified by a principal-wide vote to succeed Wayne Berson as the firm's next CEO, effective July 1, 2026.
In 2021, it acquired Long Cook & Samsa in Wooster, Ohio, and in 2015 it acquired LBC International Investigative Accounting in Canada, London and Paris. All rights reserved.
Eftsure is designated as a Preferred Partner in three critical categories: Account Validation, Fraud Monitoring, and Risk and Fraud Prevention. Nacha governs the ACH Network, which processed 33.6 billion payments valued at $86.2 trillion in 2024, making it a critical backbone for safe, fast, and smart payments across the U.S.
The Department for Educations recent release of the National Insurance Contributions (NICs) grant methodology for April 2025 to March 2026 highlights a critical issue for school and trust leaders: the growing complexity of cash flow management in the face of rising employment costs.
In this blog post, we will break down the key updates and discuss their potential impact on your SMEs finances, particularly from a payroll and accounting perspective. The Ordinary Wage Ceiling Will Increase Starting from 1 January 2025, the CPF Ordinary Wage (OW) ceiling will gradually rise, with the full increase expected by 2026.
As your accounting partner, we’ve analysed the key measures that matter most to small business owners. The government will now co-fund 40% of wage increases in 2025 (up from 30%) and 20% in 2026 (up from 15%) for lower-wage workers. Tired of surprise fees from accounting services? Here’s what you need to know.
Starting in January 2026 , accountants will have two options: A Bachelor's degree plus 2 years of experience A Master's degree plus 1 year of experience. Either way, you'll need to have an accounting concentration or equivalent , as defined by the Virginia Board of Accountancy.
It also applies to 2024 contributions to IRAs and health savings accounts for eligible taxpayers and to estimated tax payments normally due on April 15, June 16 and Sept. All rights reserved. 3 deadline for both states applies to individual income tax returns and payments normally due on April 15, 2025.
Sign Up or Log In: If you’re a new user, click on the Sign Up button to create an account. You can register using your email, Google, or Microsoft account. If you already have an account, simply log in with your credentials. ✅ “ For what invention is the Nobel prize awarded to John Jumper?
Were on the cusp of 70 years old next year in 2026, and I think this is probably the most exciting day of Sax history as we start this journey," Damiano said. "I All rights reserved. Partnering with our sponsor, well be able to invest in our people and ultimately grow our practice to remain competitive in the industry.
Effective Jan 1, 2026, you can get your CPA license with a bachelor's degree and two years of experience. A masters degree, completing the required accounting concentration of coursework, one year of experience, and passing the CPA Exam 2. The 150-hour rule is dead in Ohio! No fifth year is required. Mike DeWine on January 8.
The Governmental Accounting Standards Board is juggling a variety of projects to improve accounting for state and local governments as they come under pressure from the threat of reduced funding from the federal government. "If All rights reserved. But in todays environment, its at least something they have to consider."
If youre in solar or wind and you want the [Investment Tax Credit], that basically means you have to have whats called the beginning of construction by July 4, 2026. It has people in the renewable energy industry questioning what will they need to do to meet the beginning of construction test by July 4, 2026. All rights reserved.
The National Association of Tax Professionals ( [link] ): This "You Make the Call" looks at Edna and Stacy, who own the accounting practice Counting Cowgirls LLC, and who purchased a 2025 Subaru Forester and wrapped it with a vinyl graphic to promote their business. All rights reserved. Somebody forgot about sales tax code mapping.
Roger Russell Senior Editor, Accounting Today mailto linkedin For reprint and licensing requests for this article, click here. By Michael Cohn 1h ago Accounting Private sector loses 33K jobs Private sector employers cut 33,000 jobs in June, the first decline in over two years, while annual pay grew 4.4% All rights reserved.
Establishing a robust accounts payable audit trail is also made more efficient through the adoption of a digital payment system. By Michael Cohn 1h ago Accounting Private sector loses 33K jobs Private sector employers cut 33,000 jobs in June, the first decline in over two years, while annual pay grew 4.4% All rights reserved.
The service received nearly 141 million individual income tax returns and processed about 138 million this tax season, according to the National Taxpayer Service "Objectives Report to Congress" for Fiscal 2026. The IRS will need to rapidly hire and train thousands of new Taxpayer Services employees before the 2026 filing season."
2, 2026, to file returns and pay any taxes that were originally due during this period. 15, 2026; Quarterly payroll and excise tax returns normally due on July 31, Oct. 31, 2026; Calendar-year partnerships and S corps whose 2024 extensions run out on Sept. All rights reserved. Affected individuals and businesses have until Feb.
In this eye-opening episode, Blake and David unpack the Government Accountability Office's sobering projection that federal debt will double the size of the economy by 2047. 1, 2026 [link] Bridging the Gap: New CPA Licensure Legislation To Address the CPA Shortage [link] $5,000 DOGE check? Is the U.S. Call us and. Is the U.S.
By Michael Cohn 1h ago Accounting Private sector loses 33K jobs Private sector employers cut 33,000 jobs in June, the first decline in over two years, while annual pay grew 4.4% By Roger Russell 7h ago Accounting North Carolina signs licensure changes bill into law North Carolina Gov. All rights reserved.
ALABAMA Machen McChesney, Auburn, promoted: Emma Farris to manager, Mary Elizabeth Bond to supervisor, and Ally Bean, Cole Dewberry and Keeley Leisure to senior accountants. All rights reserved. relocate offices; and more news from across the profession. relocate offices; and more news from across the profession. Cohen & Co.,
Emily Birnbaum and Erik Wasson Bloomberg News Tax Trump tax plan MORE FROM ACCOUNTING TODAY Practice management CPA develops tools for accountants with dentist, veterinarian clients Bassim Michael has created Practice Gauge, a cloud-based analytics platform for his fellow accountants to use with their dentistry and veterinary clients.
The Chartered Institute of Management Accountants updated its CGMA Professional Qualifications Syllabus for 2026 to emphasize finance business partnering and applied problem solving.
Periods Reported: Historic Actuals September 2023 – March 2024 April 2024 – August 2024 Forecasted September 2024 – March 2025 April 2025 – August 2025 September 2025 – March 2026 April 2026 – August 2026 Summary Forecasts September 2026 – August 2027 September 2027 – August 2028 The first actuals period may be pre-populated (..)
Administration officials view the bill as a cornerstone of their economic messaging strategy to win over voters in the 2026 midterm elections when control of the House and the Senate will be at stake. All rights reserved.
MASSACHUSETTS CRR, Wakefield, partnered with Liberty Partners to launch a new platform, Bridgepoint Alliance, to help lower-to-middle-market accounting firms reduce the complexities and administrative burdens. All rights reserved. He became instrumental in the field of taxation, with a specific focus on state and local taxes. Pittsburgh.
Gartner estimates that, by 2026, around 80% of independent software vendors will embed gen AI capabilities in enterprise applications, versus less than 1% in 2023.
Wolters Kluwer CEO Nancy McKinstry said she will retire in 2026. Wolters Kluwer intends for Stacey Caywood, current CEO of Wolters Kluwer Health, to be the new CEO next year.
The OZ program allows investors to defer their capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.
(UPDATE) Microsoft has announced new customer sales of Microsoft Dynamics GP will end April 2026. They can continue to purchase new licenses and modules beyond 2026. "We They can continue to purchase new licenses and modules beyond 2026. Starting April 1, 2026 new customer sales of Dynamics GP end.
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