Amanda Beatty, CPA

✨ On the tax side, Mercury claimed a substantial R&D credit, but Christine Andrews, CPA wanted stronger documentation backed by granular data to make her confident the credit would withstand audit. On the accounting side, Mercury needed to start reporting on internally developed software (ASC 350-40) at a detailed level for their first year of audited financials. ✍ Both processes needed input from Mercury’s engineering team, but Christine wanted to improve on the traditional approach of creating separate, mostly redundant processes that wasted engineers’ time. 💡 Learn how Mercury used Neo.Tax to simplify both R&D and ASC in our newest Case Study 👉 https://lnkd.in/gjwAP92J

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Unlocking the Benefits of Outsourced Accounting   At Berman Audit & Advisory, P.A., we think accounting should keep you balanced, not tied up in knots.    We are seeing more companies embrace outsourced accounting for its blend of cost-efficiency, data accuracy, compliance, and strategic focus. This approach streamlines operations and frees teams to concentrate on growth, while we handle the financial intricacies. It’s a smart move toward building stronger, more agile businesses ready to reach their goals.   I think we would both agree - your accounting record is not something that should be flexible.    https://lnkd.in/evtwHZVN   #Berman #AccountingSolutions #OutsourcedAccounting #BermanAdvisory #BusinessGrowth

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Is your tax technology helping you work smarter—or holding you back? In today’s fast-paced accounting world, accounting firms need tools that do more than just keep up. The right tax technology can streamline workflows, boost accuracy, and free up your team to focus on higher-value work. But how do you know if your current setup is delivering what you need? In this blog, we break down: ✅ Key benefits of modern tax technology ✅ How it can improve efficiency and client satisfaction ✅ Steps to evaluate if it’s time for an upgrade Don’t let outdated tools slow you down. Read the full blog to discover how the right technology can set your firm up for success: https://bit.ly/4gkWLhz #accountingandaccountants #taxseason #taxapps

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FASB's new proposal on software cost accounting is here! From cash flow reporting to simplified capitalization rules, these changes could reshape how tech companies report their financials.

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Check out this great episode from Seema Amble and Marc Andrusko at Andreessen Horowitz highlighting two major trends impacting the accounting industry today: 1. More accountants are retiring than are entering the profession with no indication this trend will reverse 2. The demand for quality accounting is increasing with over 3 million current professionals in a $100B+ market The key to solving this disparity will be automation, specifically with modern software and AI. Accounting leaders will need tools like Rillet to provide an army of staff accountants, enabling them to stop doing the work and start reviewing it. Much of this is already possible in Rillet today as our AI automates bank reconciliation and performs flux analysis saving 1,000s of hours every single month. Check out the full conversation in the comments ⬇️

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🚨 Major closure in the tech and accounting industry! #Bench's shutdown is a big blow to many clients, and the team at Punch Financial is willing to help any of Bench's former clients in this predicament during this time of year. The Bench Accounting service has shut down, leaving 35,000+ U.S. businesses in a lurch! Current and former clients are reeling, as their critical accounting documents are still stored on the platform and cannot be accessed. Their critical accounting documents are still stored on the platform and cannot be accessed. Founded in 2012 and backed by heavyweights like Sage and Altos Ventures, this shutdown is a big blow! 😱💔 #Bench #BenchAccounting #TechNews #Entpreneurs

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🚨 Major closure in the tech and accounting industry! #Bench's shutdown is a big blow to many clients, and the team at Punch Financial is willing to help any of Bench's former clients in this predicament during this time of year. The Bench Accounting service has shut down, leaving 35,000+ U.S. businesses in a lurch! Current and former clients are reeling, as their critical accounting documents are still stored on the platform and cannot be accessed. Their critical accounting documents are still stored on the platform and cannot be accessed. Founded in 2012 and backed by heavyweights like Sage and Altos Ventures, this shutdown is a big blow! 😱💔 #Bench #BenchAccounting #TechNews #Entpreneurs

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🚨 Major closure in the tech and accounting industry! #Bench's shutdown is a big blow to many clients, and the team at Punch Financial is willing to help any of Bench's former clients in this predicament during this time of year. The Bench Accounting service has shut down, leaving 35,000+ U.S. businesses in a lurch! Current and former clients are reeling, as their critical accounting documents are still stored on the platform and cannot be accessed. Their critical accounting documents are still stored on the platform and cannot be accessed. Founded in 2012 and backed by heavyweights like Sage and Altos Ventures, this shutdown is a big blow! 😱💔 #Bench #BenchAccounting #TechNews #Entpreneurs

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Accounting and tax terms are a language onto themselves; one that often has the effect of making founders' eyes glaze over. But the new laws on Software Capitalization mean that understanding ASC 350-40 is essential for your company's financial outlook. 🧠 ⭐ First, getting your books in order is a prerequisite to go public, which means many investors expect clean books by the time an innovative company is raising their Series A or Series B rounds. 🌟 Second, by understanding and strategically timing when certain internal software projects enter the Application Development Stage, a company can lower gross expenditures and create higher revenue. Obviously, that can be a valuable asset for a founder. We wrote an ASC 35-40 guide to get you up to speed 👉 https://lnkd.in/gi63WHFC But better yet, just get in touch and we can walk you through what you need to know! 📞

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📢 Important Industry Update: Bench.co Announces Sudden Closure As a long-standing member of the accounting community, we're concerned to see Bench.co's abrupt shutdown affecting thousands of small businesses during this critical year-end period. Our latest analysis examines: - The impact on small businesses and employees - Historical patterns in venture-backed accounting services - Critical steps for affected businesses - How to evaluate the stability of accounting partners For over a decade, Accounting Prose has advocated for sustainable, human-centered accounting services. While technology enhances our work, we believe lasting client relationships and stable business practices are the foundation of quality bookkeeping. If your business is affected by this shutdown, here are two immediate steps: 1. Secure your financial data before March 7th, 2025 2. Begin planning your year-end closing strategy Need guidance? Our team is here to help you navigate this  transition. #AccountingServices #SmallBusiness #Bookkeeping #BusinessContinuity #FinancialServices https://bit.ly/4gx1rBc

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Bench Accounting announces service closure, leaving business owners scrambling during one of the busiest times of the year. With year-end deadlines here, this disruption couldn’t come at a worse time. 😨 👉 Here’s why every business owner needs a reliable bookkeeper - or full scale strategy firm (or one to call when things go sideways): 1️⃣ We’ve got your back! Even if your software fails, we’ll make sure your financial records stay accurate and up-to-date. 2️⃣ We’re your backup plan! When disruptions happen, we step in with solutions so you don’t lose valuable time or miss deadlines. 3️⃣ Year-end is stressful enough, our expertise ensures your tasks stay on track, no matter what. The good news? We’re still accepting new clients for catch-up, clean-ups and monthly services! ✨ #Benchoutage #bookkeeping #bookkeeper #fullscopestrategy #zenstrategies

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PRESS RELEASE — Artificial intelligence is poised to augment how accounting professionals complete their work. How is Taxfyle leading the charge? By implementing AI within our workflows, we've been able to dramatically cut back on time spent scoping jobs through its implementation. Continued development in this field can see accountants scale back on time-consuming document reviews, giving them more time to spend on meaningful tasks while being able to provide clients with more affordable services. “In this time of major structural change in the accounting industry, Taxfyle’s new AI offerings will bring much-needed certainty to the millions of Americans and U.S. businesses that rely on professionals to help them with their tax needs,” said Richard A. Lavina, Taxfyle’s Co-founder & CEO. “When handling complex tax returns, such as business and sole proprietor returns, AI is essential. We've developed a method that completes the work efficiently while simultaneously adding value for the taxpayer.”

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