Maximizing Efficiency During Tax Season: How Karbon’s Automated Workflows Can Help
Tax season is a critical period for accounting firms, marked by a surge in client demand, tight deadlines, and a deluge of paperwork. Despite the challenges, this busy period also presents opportunities for firms to showcase their expertise, build strong client relationships, and drive growth. To capitalize on these opportunities, firms need to be equipped […]
Tax Cuts & Job Reforms – How Will They Impact Large Corporations?
Corporations are no longer just competing in their own geography. With the growth of digitalization and innovation, the world is coming closer. While access to global markets and talent, ability to pursue business round the world has become easier, large nations with important economies like United Nations are face limitations because of the international competition. […]
Accounting Employee to Firm Owner: Here’s How to Make Smooth Transition
Accountants want to make a shift from being employees to firm owners, at least most of them! If you have the aspiration and have been thinking about this transition, then congratulations! You are mentally there. But it is not enough to just place yourself in the designation of your dreams. There is so much more […]
The Dangers of AI-powered Tax Advice: Expert Insights
In a recent investigation by the Washington Post, it was found that the tax advice rendered by TurboTax and H&R Block was not just unhelpful, but simply wrong. The reason? They were AI-generated. Here is a very simple thing that we need to understand – accounting or any other field – AI does make errors. […]
Tax Fraud: Signs, Types, and Penalties of Tax Evasion
Every year, tax professionals gear up for the annual tax filing rituals. Collating the documents, making meaning out of them, and ensuring that everything is done accurately. Tax season is chaotic in itself, but there is another aspect to it, the dark side – tax fraud. While there is one form of fraud where your […]
Tax Season Stress and Madness: Selfcare During the Peak Season
On the technical side, tax season is about filing at the right time, ensuring all documents have been uploaded correctly and the clients get the maximum returns, there is something inherently critical for tax professionals – to survive the tax season chaos. This season brings a whirlwind of stress and anxiety due to the long, […]
Accounting Industry Trends to Follow in 2024
Accounting firms, in the US, are navigating through a series of challenges and trends in 2024, propelled by economic conditions, technological advancements, and changing market demands. For over half a decade, the world has witnessed enormous changes and the accounting field is no exception. The technology that is in use today or expected to be […]
Tax Filing FAQs 2024: Almost Everything Covered
Tax season is here. It is that time of the year when accountants feel confused, stressed, and in a chaotic state. While there can be a multitude of reasons for you to feel this way, knowing things – from the right documents you need to the deadlines and the laws that will affect your clients, […]
Busy Season Saturday: Measuring the Pros and Cons of the Model
A few months during the financial year, the accounting world suffers from hysteria. Well, “suffers” might be a too strong word, but the chaos and the inhibitions that overpower the professionals could be referred to that way. The firms are swamped with requests as the physical or digital files keep piling and deadlines loom large. […]
Tax Form Types and Tips for Efficient Handling
The world of taxation is complex, more so for the small tax firms who handle several clients, pertaining to different tax forms. Tax professionals find themselves at a crossroad as the tax season approaches. The tax forms are a maze, each with its own set of complexity, regulations, and challenges. Taxation is challenging for the […]