ThomsonReuters

MAY 21, 2025

Jump to Top 5 priorities for tax and accounting professionals The impact of AI in tax and accounting firms Navigating the future of tax and accounting The landscape of the tax and accounting industry is evolving rapidly, driven by technological advancements and a growing demand for value-added services.

Accounting Firms 66

Accounting Firms Technology Marketability Compliance 66

ThomsonReuters

NOVEMBER 9, 2023

In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background.

Accounting Firms 105

Accounting Firms Technology Compliance Marketability 105

ThomsonReuters

AUGUST 2, 2022

With The Great Resignation accelerating staffing challenges for accounting firms of all sizes, it might be time to look for a non-traditional new hire: technology. Many firms have historically employed dedicated staff to manage specific manual tasks and processes. Ready for an engaged team and enhanced client relationships?

Accounting Firms 98

Accounting Firms Technology Compliance 98

ThomsonReuters

NOVEMBER 8, 2022

From increasing accuracy to optimizing tax workflow to freeing up time for more value-added activities, technology has transformed the accounting industry—for the better. Accounting firm technology trends. So how does automation work at an accounting firm? How do you choose the right accounting technology?

Compliance 98

Compliance Technology Accounting Firms Start-ups 98

ThomsonReuters

DECEMBER 4, 2024

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. This not only speeds up the process but also ensures compliance with IRS regulations.

Accounting Firms 52

Accounting Firms Compliance Start-ups Dividends 52

ThomsonReuters

DECEMBER 4, 2024

Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms. Data entry 8.

Accounting Firms 52

Accounting Firms Compliance Technology Dividends 52

ThomsonReuters

MAY 5, 2022

Growing your accounting firm through specialization. Many accounting firms have tried to grow their practice by being all things to all clients. The potential problem with this approach is that it can hurt the firm when they get very specialized client requests. Don’t let your accounting firm fall victim.

Accounting Firms 96

Accounting Firms Start-ups Technology Marketability 96

ThomsonReuters

APRIL 23, 2021

Whether you’re looking to branch out and start your own firm, or you’re a current small firm owner, the idea of continuing to evolve and design your tax and accounting firm is a constant in your mind. Clients don’t care about the compliance work as much anymore. We need to ask more questions and do more listening.

Accounting Firms 98

Accounting Firms Start-ups Compliance 98

Peak Business Valuation

JULY 15, 2023

The accounting industry has experienced rapid growth in recent years. As businesses suffered the effects of COVID , many turned to accounting firms for financial advice and consulting. However, competition is intense and increasing in the accounting industry. We work with accounting firms throughout the country.

Accounting Firms 52

Accounting Firms Business Valuation Appraisal Fair Market Value 52

ThomsonReuters

MARCH 15, 2023

Today, a growing number of private equity investors are entering the accounting market as they’ve discovered that investing in accounting firms can yield great returns. That is, if the firm is a good fit and has the right appeal. Accounting firms looking to attract investors should ensure their tech stack is up to date.

Accounting Firms 64

Accounting Firms Technology Equity Compliance 64

ThomsonReuters

FEBRUARY 24, 2023

Koltin, CEO of Koltin Consulting Group, explained, private equity firms perceive accounting firms as being low risk, high reward. This will increase the price war on acquiring targeted accounting firms,” Koltin was quoted as saying in a Reuters article. In recent years, several deals have made headlines.

Accounting Firms 59

Accounting Firms Private Equity Firm Technology Equity 59

ThomsonReuters

APRIL 4, 2022

Sure, your firm’s tax compliance software does its job, but you know that there’s room for significant improvement. What’s more, you’ve found the new software solution that you believe can deliver all of the powerful, time-saving tools your firm needs to work better and faster. Unlock growth opportunities.

Compliance 98

Compliance Start-ups Accounting Firms Technology 98

ThomsonReuters

JULY 30, 2024

Historically, accounting firms have operated under a transactional billing model, providing once-a-year services primarily focused on tax compliance and reporting. As with value pricing, these prices will likely evolve as you better grasp what it costs your firm to complete each task.

Accounting Firms 52

Accounting Firms Compliance Technology 52

ThomsonReuters

MARCH 3, 2025

While advanced tax technology and automation are nothing new for most accounting firms, the introduction of agentic AI is redefining what classifies as a mundane task. With agentic AI, accountants can automate complex pieces of the tax return process. So, what are the practical use cases?

Accounting Firms 93

Accounting Firms Compliance Technology 93

ThomsonReuters

JUNE 4, 2024

In today’s fast-paced business landscape, accounting firms face constant pressure to increase efficiency, upskill staff , and meet increasing client demands. So, how can AI-powered tax software help accounting firms drive growth and set achievable goals? Regulatory compliance. Let’s take a look.

Accounting Firms 52

Accounting Firms Technology Data Analysis Compliance 52

Accounting Web

JUNE 6, 2025

Accounting firms today are stepping well beyond compliance. Many now find themselves offering guidance not just on numbers, but on technology, process

Accounting Firms 52

Accounting Firms Compliance Technology 52

ThomsonReuters

JUNE 11, 2024

Employers and payroll professionals face a complex web of challenges while managing remote and hybrid work arrangements, particularly concerning state income tax withholding and compliance with varying state labor laws. “It’s not just the payroll taxation issue,” Wylam stressed.

Accounting Firms 59

Accounting Firms Compliance Start-ups Technology 59

ThomsonReuters

JUNE 7, 2024

With AI-powered tax technology automating most traditional tax compliance work, forward-thinking accounting firms are increasingly shifting their business model and engaging clients in a new (and more profitable) way: advisory services. Making this transition, however, requires a change in mindset.

Accounting Firms 96

Accounting Firms Start-ups Compliance Technology 96

ThomsonReuters

DECEMBER 8, 2023

The transformative impact of AI in accounting How can accounting firms leverage AI? Ethical considerations in the human-AI partnership A successful human-AI partnership Because the accounting profession is traditionally compliance-focused, it is particularly prone to AI disruption. Compliance.

Accounting Firms 108

Accounting Firms Compliance Technology Marketability 108

ThomsonReuters

JUNE 24, 2024

As unclaimed property compliance evolves, with trends such as shorter dormancy periods and new property types like virtual currency and payroll cards, coordination across the organization is essential. She added that California now has a Voluntary Compliance Program (VCP) regarding unclaimed property.

Accounting Firms 52

Accounting Firms Compliance Start-ups 52

ThomsonReuters

JULY 13, 2023

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. To learn more, let’s take a look at three ways accounting firms can use AI as a competitive advantage. Sounds great, right?

Accounting Firms 97

Accounting Firms Start-ups Compliance Technology 97

ThomsonReuters

MAY 22, 2024

There are, however, other considerations at play and challenges that accounting firm leaders may face when looking to move to the cloud. To help firms navigate the change, this article will take a closer look at both some of the opportunities and challenges that firm owners and partners should consider.

Accounting Firms 52

Accounting Firms Technology Finance Compliance 52

ThomsonReuters

DECEMBER 16, 2024

Understand the value of an advisory model The value of an advisory services business model is that it goes beyond traditional compliance, offering personalized guidance that drives client satisfaction and loyalty. Key steps to converting clients from compliance to advisory: Define a clear scope of work. They need it.

Compliance 52

Compliance Accounting Firms Start-ups Technology 52

ThomsonReuters

JUNE 29, 2023

How’s your accounting firm? Like any company, your firm faces daily accounting problems that are part of normal operations : staffing, client acquisition, cash flow, and profit management. But as part of the accounting industry, your firm encounters unique challenges based on the services you provide.

Accounting Firms 98

Accounting Firms Technology Compliance Start-ups 98

ThomsonReuters

AUGUST 2, 2022

If your firm isn’t using the most current technology, you could find yourself at a disadvantage in the war for talent—especially if prospective staff is also looking at larger firms. The necessity of remote work during the pandemic showcased just how well accounting firms can operate within a flexible working environment.

Accounting Firms 97

Accounting Firms Technology Compliance Marketability 97

ThomsonReuters

JULY 10, 2024

It’s back to business fundamentals for many tax and accounting firms as 2024 shapes up to be a year of re-assessment and re-building, according to the Thomson Reuters Institute 2024 State of Tax Professionals Report. Given the shortage of qualified talent, 39% of respondents said recruitment in 2024 was likely to be highly challenging.

Accounting Firms 98

Accounting Firms Compliance Technology 98

ThomsonReuters

JUNE 17, 2025

As technology continues to automate an increasing number of tax preparation and compliance tasks, more and more accounting firms are looking at shifting their focus to offering clients more personalized financial insights and strategic guidance.

Accounting Firms 52

Accounting Firms Compliance Technology Marketability 52

ThomsonReuters

DECEMBER 23, 2024

Jump to Understanding the shift to advisory An introduction to Practice Forward Leveraging the Practice Forward community and resources A proven roadmap to stand out in a competitive market Advisory services represent a growing area of opportunity for accounting firms, driven by changing client demands for proactive, value-added tax guidance.

Accounting Firms 52

Accounting Firms Compliance Marketability 52

ThomsonReuters

JULY 6, 2023

If you’re a leader within an accounting firm, you’ve likely heard of advisory services and their lucrative impact. This trend is picking up pace as traditional accounting firms seek more strategic and meaningful work that goes beyond just tax returns. Start your journey to accounting advisory services today.

Accounting Firms 98

Accounting Firms Compliance Start-ups Marketability 98

ThomsonReuters

JUNE 28, 2023

If you’re a tax firm leader looking to differentiate yourself from the competition, providing your clients with insight into their ESG data is a great way to set your firm apart. Let’s take a look at some best practices accounting firms can use to help clients overcome the challenges of ESG data collection and management.

Accounting Firms 98

Accounting Firms Compliance Start-ups Technology 98

ThomsonReuters

APRIL 15, 2021

Tax and accounting firms are uniquely positioned to be strategic advisors and service providers for their clients—but CPA firms must evolve, too. Tax and accounting firms can serve as a consultant for clients working through their path toward modernization. Firms can meet these needs for businesses.

Accounting Firms 96

Accounting Firms Compliance Technology Finance 96

ThomsonReuters

JULY 25, 2023

For today’s accounting firms, advanced technology is no longer an option but a necessity. To keep pace in an increasingly competitive landscape, forward-looking firms are investing in artificial intelligence (AI) solutions to automate tax workflow, open up additional revenue streams, and better serve clients.

Technology 98

Technology Accounting Firms Compliance Marketability 98

ThomsonReuters

AUGUST 3, 2023

These questions can be related to changes in regulatory and compliance standards , ESG , and general business advice. As a result of the explosion of new tools and software available, accounting firms have a significant opportunity to improve their reputational status through enhanced advisory service offerings.

Technology 98

Technology Accounting Firms Compliance Marketability 98

ThomsonReuters

DECEMBER 27, 2024

What should accountants look for in cryptocurrency audit software? Compliance with these GAAP requirements during financial audits is essential to maintaining the integrity of financial statements. What should accountants look for in cryptocurrency audit software? Exclusive integration.

Accounting Firms 52

Accounting Firms Compliance Specific Risk Technology 52

ThomsonReuters

MAY 6, 2022

For small and mid-sized tax and accounting firms, there are plenty of ways to do so. 8 ways small and mid-sized accounting firms can increase profitability. Maybe you’re paying for expensive office rent when you could operate a remote-based firm instead. Revisit your accounting firm’s marketing strategy.

Accounting Firms 87

Accounting Firms Start-ups Marketability Dividends 87

ThomsonReuters

OCTOBER 25, 2024

While many accounting firms find a shifting regulatory environment to be a significant challenge, forward-looking firms are harnessing the latest technology to give their firm a competitive advantage. This creates a prime opportunity for accounting firms to expand their services beyond compliance and into advisory roles.

Accounting Firms 52

Accounting Firms Compliance Technology 52

ThomsonReuters

AUGUST 1, 2023

The cost of turnover can be enormous given the training and development costs most firms put into their new hires and the need for continuing professional education. To address this, many future-focused accounting firms are moving away from hourly billing and toward a value pricing model. hours per week.

Accounting Firms 98

Accounting Firms Technology Compliance Finance 98