Category: Accounting

Tax planning is evolving. Is your firm evolving with it?

Post author By unison_globus
Post date May 12, 2025

With a US Tax code that is nearly 7,000 pages long and equally complex, individuals and business owners are looking to their CPAs and tax accountants for strategic tax planning. There is a lot of buzz currently in the profession around tax planning and new technology and tools that are emerging to create efficiency in the tax planning process.

So, what are some of the current trends and tools for tax planning? And, why is tax planning something firms should be focused on delivering?

Let’s start with the ‘why’. 01

It’s no secret that tax preparation alone has become a commodity. Compliance is required, but the real value is in the strategy to apply the tax code in the most tax efficient way for the client.

Clients aren’t just looking for someone to file their returns — they’re looking for someone to help them plan. Someone who understands their long-term goals, anticipates risks, and adds strategic insight.

Firms that remain trapped in a reactive model risk falling behind — both in profitability and relevance. Shifting to an advisory model isn’t a luxury anymore; it’s a necessity for sustainable growth, client satisfaction, and even the mental wellness of firm owners.

CPAs and tax professionals are in an ideal position to apply their expertise and impact their clients’ financial situations significantly. When higher value is delivered, fees become and investment rather than an expense.

Current Trends in Tax Planning 02

01. Automation

Automation is no longer optional, but it is a core part of modern tax preparation services. Firms are increasingly turning to AI-powered tax planning software and cloud-based solutions to streamline processes, improve accuracy, and deliver faster results. Tools like Intuit ProConnect and Bloomberg BNA Tax Planner are helping tax consultants work smarter, offering clients more personalized and data-driven tax return help.

02. Cryptocurrency and Taxation

Cryptocurrencies have moved from the margins to the mainstream. The IRS treats digital assets like property, which means every sale, exchange, or transaction could trigger a taxable event. Understanding how to navigate cryptocurrency taxation is no longer just a value-add; it is becoming essential. Your firm must stay informed about changing regulations and reporting requirements to help clients manage their tax liability effectively.

03. Environmental Taxes and Incentives

Sustainability initiatives are influencing tax strategies more than ever before. Businesses investing in energy efficiency, clean technologies, or sustainable practices can often benefit from valuable tax deductions and credits. As a trusted tax accountant or consultant, you have the opportunity to guide clients in leveraging environmental tax incentives to both save money and promote their corporate social responsibility goals.

Regulatory Updates and Compliance 03

01. Recent Tax Law Changes

The 2024–2025 tax years have brought notable changes. Adjustments to federal tax brackets, increases to the standard deduction, and enhancements to key tax credits like the Child Tax Credit and energy efficiency incentives are reshaping tax planning strategies.

02. International Tax Compliance

Global business operations mean that firms must also navigate complex international tax laws. The OECD’s global minimum tax initiative and expanded foreign reporting requirements are changing the compliance landscape. Firms need to be prepared to assist clients with cross-border tax filing, ensuring they meet their obligations while minimizing risks.

Future-Proof Your Tax
Planning with Unison Globus

Get Started Today!

Best Practices for Modern Tax Planning 04

01. Tax Efficiency

To build a good tax plan, you must know what your clients’ goals are. Sometimes, a client’s goal is to simply minimize their tax liability. But not always. Sometimes, paying more now to gain much more later is a better strategy.

For example, a business owner planning to sell their company in the next 1-2 years may be advised to not aggressively minimize the tax liability show strong earnings and get the highest possible valuation.

There is real value in understanding and applying the tax code strategically to help a client reach his or her goals. And there are real consequences in the form of missed wealth accumulation or opportunity when business owner and individuals don’t plan looking forward.

02. Proactive Tax Strategies

Tax planning is no longer a reactive exercise. Techniques such as tax-loss harvesting, maximizing contributions to retirement accounts, optimizing charitable giving, and leveraging tax-advantaged investment vehicles should be discussed with clients throughout the year. By offering proactive strategies, you can help clients reduce their tax liability and strengthen their financial position well before filing season begins.

03. Client Education and Communication

Strong communication builds strong client relationships. Educating clients about changing regulations, available tax credits, and smart planning opportunities demonstrates your value beyond basic tax filing assistance. Regular updates, client webinars, and customized tax planning reviews foster trust, build authority, and ensure your clients remain engaged and informed.

Leveraging Technology for Efficiency 05

Tax Planning Software

As firms move toward a more advisory-focused model, the tools you use matter more than ever. As established earlier, modern tax planning software isn’t just about saving time — it’s about unlocking smarter, forward-looking strategies for your clients.

Platforms like Bloomberg BNA, Drake Tax, TaxPlanIQ, and Corvee offer more than calculations. They let you model different scenarios, forecast multiple years, and even visualize the tax impact of decisions before they’re made. Want to help a client decide between taking a bonus or reinvesting in their business? Now you can show them the numbers in real time.

These tools don’t just reduce errors; they elevate your role from tax preparer to strategic partner. The key is choosing a platform that aligns with how your firm delivers value, supports collaboration, and keeps you a step ahead of client expectations.

Bottom line: With the right software, you’re not just getting more efficient — you’re helping clients make better decisions and building the kind of trust that drives long-term relationships.

Future-Proofing Your Firm 06

01. Continuous Learning and Development

In this ever-changing tax environment, continuous professional development is essential. Encouraging your team to pursue certifications, attend industry conferences, and participate in IRS webinars will ensure that your firm remains competitive when it comes to your tax planning services offer.

02. Adapting to Client Needs

Today’s clients value convenience and personalized service. Virtual consultations, customized tax plans, and flexible communication channels are no longer “nice-to-haves” — they are expectations. Adapting your service model to meet these evolving demands will not only retain existing clients but also attract new ones looking for a forward-thinking tax partner.

03. But, What About the Sheer Volume of Compliance Work?

The profession has been talking about a shift from compliance to advisory for years. So, why has it been so difficult to implement in many firms? Quite simply, time and resources. The volume of compliance work is daunting. So, how to accountants remove themselves from compliance work but still be assured of the quality and accuracy that is critical?

At Unison Globus, we specialize in delivering modern tax preparation and review services designed to help CPA firms, EAs, and accounting businesses focus on high value advisory services.

We are leading the new era of outsourcing, and we call it Offshore Staffing 2.0. Our team of highly educated and experienced CPAs and accountants get it right the first time and are proficient with your tech stack. Don’t have your processes or SOPs documented? We can help with that as your strategic capacity partner.

Final Thoughts

Tax planning is evolving at a pace we have never seen before. Firms that continue to operate with outdated practices will likely fall behind. Embracing automation, staying current on regulatory changes, offering proactive tax strategies, and prioritizing client education are no longer optional — they are the foundation of sustainable success.

And managing the massive volume of compliance work doesn’t have to be the roadblock. With a strategic capacity partner that you can trust and rely on, you can focus on the client advisory work you love.

It’s Time to Shift

Join our exclusive webinar with Dominique Molina, CPA, MST, CTS, and discover
how modern firms are transforming tax season into a strategic advantage. Reserve your spot now.

Accounting

Effective Cash Flow Management A Guide for Offshoring Partners

Post author By unison_globus
Post date April 24, 2025

In the global business landscape, offshoring has become a strategic necessity. Whether you’re managing a growing CPA firm or running finance operations across borders, one thing remains critically effective cash flow management. When not managed strategically, cash flow challenges can delay growth, hinder payments, and expose your operations to compliance risks.

This blog serves as a comprehensive guide for offshoring partners, offering insights into the best practices, challenges, and solutions for maintaining healthy cash flow. With financial complexity rising due to cross-border operations, companies are increasingly turning to offshore financial management services to stay agile, secure, and compliant.

What is Cash Flow Management and Why Is It Crucial in Offshoring?

Cash flow management involves tracking, forecasting, and optimizing the inflow and outflow of money to ensure financial stability and liquidity. In offshoring models, this becomes more layered due to:

Multi-currency transactions
Varied tax jurisdictions
International vendor payments
Regulatory compliance across borders

Unlike traditional setups, offshoring finance management requires a deeper understanding of international markets and financial instruments. Businesses that fail to adjust their strategies to suit offshore dynamics often face delayed payments, low reserves, and poor financial forecasting.

According to a study by U.S. Bank, 82% of small businesses fail due to poor cash flow management, not due to lack of profits. In offshoring, the margin for error is even smaller.

Common Cash Flow Challenges in Offshore Operations

01. Currency Volatility:

Exchange rate fluctuations can erode margins and cause significant cash flow discrepancies. For example, if you're paying a vendor in a currency that suddenly appreciates, your financial forecast can fall short instantly.

02. Compliance & Tax Delays:

International tax laws are not only complex but ever-changing. Missing a filing deadline or misunderstanding regulatory requirements can freeze cash flow or attract penalties.

03. Lack of Real-Time Visibility:

Operating across multiple countries often means using fragmented systems. Without real-time access to receivables, payables, and banking activity, cash flow forecasting for businesses becomes speculative at best.

04. Payment Cycle Imbalances:

Inconsistent billing terms with vendors or clients offshore can create gaps between accounts payable and receivable, further tightening cash reserves.

Best Practices for Managing Cash Flow in Offshoring

To remain competitive and solvent, businesses must implement effective cash flow strategies that align with offshore dynamics.
Here’s what works:

01. Outsourcing Cash Flow Forecasting:

Instead of building expensive internal systems, many businesses are turning to outsourcing cash flow management to offshore experts. These providers bring:

Predictive analytics for accurate forecasting
Historical trend analysis and cash flow modeling
Dynamic dashboards that reflect live financial positions

02. Adopt Offshore Accounting Solutions:

Cloud-based offshore accounting platforms allow centralized tracking of expenses, income, and liabilities across multiple geographies. When combined with offshore cash flow planning, you can better manage liquidity and compliance risks.

03. Automate Payment Schedules:

Set automated payment rules based on invoice due dates, regional tax obligations, and project milestones. This helps maintain consistent outflows and avoids late fees or strained relationships with offshore vendors.

04. Centralize Reporting:

Implement unified financial reporting across offshore and onshore teams. This ensures full visibility and helps with preparing regulatory reports for stakeholders and auditors alike.

05. Maintain a Reserve Fund:

Every offshore partnership should build a buffer to handle unexpected currency movements or geopolitical disruptions. Liquidity reserves act as a safeguard during crises.

Take Control of Your Offshore Cash Flow

Unison Globus helps global businesses manage cash flow with confidence. Let’s Simplify Your Firm’s Work today to optimize your offshore financial strategy. Get in touch now

Value-Driven Tips:

What is Cash Flow Management and Why Is It Crucial in Offshoring?

Tips : Start with a 13-week rolling cash flow forecast. It helps you spot trends, prepare for shortfalls, and make better offshore spending decisions.

Currency Volatility (Challenge #1)

Tips : Use a multi-currency accounting tool that updates exchange rates automatically. This keeps your forecasts accurate and avoids surprises in conversions.

Lack of Real-Time Visibility (Challenge #3)

Tips : Choose an offshore partner who provides cloud-based dashboards and daily financial reports. This gives you complete transparency over incoming and outgoing funds.

Outsourcing Cash Flow Forecasting (Best Practice #1)

Tips : Ask your offshore provider to include multiple forecast scenarios like optimistic, realistic, and conservative models so you’re always prepared for changes.

Automate Payment Schedules (Best Practice #3)

Tips : Automated reminders for due payments can help avoid late fees and keep your vendor relationships strong especially when working across time zones.

Tips for Outsourcing Partners

Tips : Agree on common financial KPIs with your outsourcing team. Metrics like Days Payable Outstanding (DPO) and Days Sales Outstanding (DSO) help keep everyone on the same page.

Strategic Framework Table

Tips : Review your forecast versus actual cash flow every week. Even small differences can point to bigger financial issues or opportunities.

Conclusion

Tips : Small delays in offshore payments can lead to major workflow disruptions. Working with a financial partner like Unison Globus helps you stay on track with consistent and timely reporting.

Cash Flow Strategies for Outsourcing Partners

Whether you’re working with offshore teams or outsourcing to a service provider, use these tailored strategies to strengthen your financial foundation:

Align Financial Metrics: Ensure KPIs between your business and your offshoring partner match. This includes Days Sales Outstanding (DSO), cash conversion cycle, and forecast variance.
Implement Tiered Payment Models: Based on deliverables and milestones, tiered payment systems help reduce the upfront cash burden.
Benchmark Forecasts: Compare projected vs. actual cash flow monthly. Adjust planning models using updated insights from your offshore teams.
Outsource to Specialized Experts: Choose firms with deep expertise in offshoring financial solutions and an understanding of tax, compliance, and accounting frameworks in your operational regions.

How to Manage Cash Flow in Offshore Operations: A Strategic Framework

Use this simple yet effective framework to assess and refine your offshore cash flow strategy:

Step	Action
1	Assess current financial health using cash flow statements
2	Forecast 3–6 months ahead using historical data and offshore contracts
3	Identify gaps and risks in cash cycle related to offshore transactions
4	Consult with a global finance expert or offshoring partner
5	Automate processes and integrate tools for real-time visibility
6	Review and refine forecasts regularly

By systematizing your cash flow management process, you reduce financial blind spots and improve cross-border coordination.

Why Choose Unison Globus for Offshore Financial Management?

Unison Globus is a trusted partner to 350+ global firms and CPA practices, helping them manage outsourced finance functions with confidence.

We specialize in:

Cash flow forecasting for businesses
Outsourcing cash flow management
Scalable offshore accounting solutions
Custom reporting dashboards
Compliance-ready financial services

With Over 18 years of industry experience, our expert teams ensure complete transparency, data accuracy, and regulatory alignment in every offshore engagement. Whether you’re a startup expanding internationally or a seasoned firm managing global accounts, Unison Globus provides the financial backbone your business needs to thrive offshore.

Conclusion: Offshore Success Starts with Strategic Cash Flow Planning

In offshoring, your cash flow is more than a report – it’s a strategic lever for growth. Businesses that align financial visibility with offshore goals are better equipped to handle currency risk, payment delays, and compliance hurdles.

The right partner makes all the difference. By outsourcing cash flow forecasting and financial planning to a seasoned provider like Unison Globus, you gain not only accuracy and speed but also peace of mind.

Ready to take control of your offshore cash flow?

Partner with Unison Globus to streamline your financial processes, improve liquidity, and stay globally compliant. Contact us today to explore customized offshore financial management solutions built for your business success.

Cash Flow Management in Offshoring

Accounting

Key IRS Tax Forms and Updates for Smooth Filing in 2025

Post author By unison_globus
Post date April 11, 2025

The 2025 tax season is approaching, and with it comes a wave of IRS updates, revised tax forms, and evolving compliance requirements. For CPAs, EAs, and accounting firms across the U.S., staying ahead of these changes is critical, not only to ensure error-free filings but also to deliver proactive, high-value tax advisory and compliance services to clients.

At Unison Globus, we understand the unique challenges accounting professionals face during tax season. Whether you manage returns in-house or leverage outsourced tax support, being prepared with the latest insights, tools, and forms can make all the difference. In this blog, we’ll walk you through the key IRS changes, highlight essential tax forms, and offer practical tips to help you optimize your tax filing strategy for 2025. Plus, we’ll show you how Unison Globus can serve as your trusted partner for efficient, affordable tax preparation and support.

Key IRS Updates for the 2025 Filing Season

The IRS has announced several noteworthy updates for the 2025 tax season, all thoughtfully designed to modernize tax administration, improve accuracy, and streamline the taxpayer experience. These changes reflect the agency’s continued push toward digital transformation and proactive compliance management. From new electronic filing mandates to revised income thresholds and security enhancements, these updates will significantly impact how CPAs, EAs, and accounting firms manage returns, advise clients, and maintain compliance. Staying informed and adapting early is crucial to delivering efficient, accurate, and value-driven tax services.

Here are the top changes you should know:

01. Increased Digital Filing Requirements

More tax forms now fall under the mandatory electronic filing umbrella. The IRS is continuing to expand digital transformation initiatives, so ensuring your systems and staff are equipped for online tax preparation services is critical.

02. Adjusted Income Thresholds and Deductions

Expect revised income brackets, standard deductions, and contribution limits due to inflation adjustments. This will impact both tax planning and preparation strategies for individuals and businesses.

03. Updates to Key Schedules and Forms

Several common forms have been redesigned or updated. Notable changes include:

Form 1040 and Schedules 1-3: Streamlined for clarity and ease of data entry.
Form 1099-K: Lower reporting thresholds remain, so gig workers and small businesses will see more 1099-K forms.
Form W-2: Enhanced digital issuance standards.

04. Do More with an IRS Online Account

Encourage clients to create or access their IRS Online Account. It offers faster access to payment history, balance details, tax records, and personalized tax information—crucial for seamless tax planning and preparation.

05. Get an Identity Protection PIN (IP PIN)

To protect against identity theft, taxpayers can request an IP PIN from the IRS. This six-digit number adds a layer of security and is highly recommended for individuals who have experienced data breaches or prior identity issues.

Many, Many Forms: Which Tax Form to Use?

The IRS has a wide range of forms, and choosing the right one is essential for accurate tax compliance services.
Here’s a simplified guide to the most frequently used forms in 2025:

Form 1040 – Individual Income Tax Return
Form W-2 – Wage and Tax Statement
Form 1099 Series – Income for contractors, interest, dividends, and more
Schedule C – Profit or Loss from Business (Sole Proprietorship)
Schedule SE – Self-Employment Tax
Form 8867 – Paid Preparer’s Due Diligence Checklist
Form 941 – Employer’s Quarterly Federal Tax Return
Form 1120 / 1065 – Corporate and Partnership Returns

These forms are foundational for income tax preparation, tax advisory services, and tax audit support.

Common Tax Form Attachments

Be mindful of additional documents often required to support returns:

Form 8962 - Premium Tax Credit
Form 2441 - Child and Dependent Care Expenses
Form 8889 - Health Savings Accounts (HSAs)

What’s in Your Mailbox?

The IRS reminds taxpayers and tax professionals to keep an eye on physical and digital mailboxes.
Important tax documents like:

W-2s,
1099s,
Notice CP01A (for IP PINs), and
IRS Letters

…are often sent early in the year. Missing one of these can delay tax filings or trigger IRS notices.

Simplify tax season with outsourced expertise.

From IRS updates to accurate filings, Unison Globus assists CPAs and EAs stay ahead -efficiently and affordably. Get in touch now

How to Prepare for a Smoother Tax Season

Navigating tax season doesn’t have to be stressful. Here are a few tips to optimize your operations:

Update Your Software & Systems

Ensure your tax software is up to date and IRS-compliant. Look for integrations that support affordable tax preparation and real-time updates.

Train Your Staff on New IRS Changes

Internal teams should be familiar with form updates, threshold changes, and digital filing protocols.

Offer Early Tax Planning Consultations

Tax planning and preparation are most effective when started early. Use Q4 to engage clients proactively.

Leverage Outsourced Expertise

Partnering with a trusted outsourcing firm like Unison Globus helps reduce the in-house workload while ensuring accuracy, efficiency, and compliance. From tax compliance services to online tax preparation services, our expert team supports every stage of the tax lifecycle.

Why Choose Unison Globus for Tax Season Support?

As U.S.-based CPAs, EAs, and accounting firms navigate the demands of the 2025 tax season, having a strategic partner who can provide scalable, compliant, and cost-effective solutions is more valuable than ever. This is where Unison Globus steps in, with deep industry knowledge, IRS-aligned practices, and a commitment to supporting your success.

Unison Globus offers a comprehensive suite of tax solutions that are tailored specifically for accounting professionals:

End-to-end Tax Filing Services
Strategic Tax Advisory Services
Reliable Tax Audit Support
Cost-effective Online Tax Preparation Services
Seamless Tax Compliance Services

At Unison Globus, we stay on top of every IRS update, policy shift, and filing change, so you don’t have to. Our dedicated tax professionals work behind the scenes to ensure your clients’ filings are accurate, timely, and fully compliant, allowing you to focus on advisory roles and relationship-building.

Final Thoughts

The 2025 tax season is already shaping up to be dynamic, with increased digital requirements, updated forms, and new security protocols. But with the right partner, this season can also be your most efficient and profitable yet.

Unison Globus combines technology, talent, and proven tax expertise to help you reduce operational stress, control costs, and exceed client expectations. Whether you’re looking to scale operations, meet filing deadlines, or build strategic capacity, our tax solutions are designed to empower your firm every step of the way.

Ready to simplify your 2025 tax season?

Let Unison Globus handle the heavy lifting so you can deliver more value to your clients.

2025 Tax Season at a Glance : Forms, Facts & Filing Insights

Accounting

April 15 Tax Deadline Approaching? Here’s How to Prepare and File on Time

Post author By unison_globus
Post date March 25, 2025

As the April 15 tax deadline approaches, CPAs, EAs, and accounting firms must ensure their clients are well-prepared for a smooth and timely filing process. With tax laws constantly evolving and last-minute filings increasing the risk of errors, having a structured approach can help prevent unnecessary penalties and ensure compliance.

To assist in this critical period, here are key strategies to prepare and file tax returns efficiently while optimizing deductions and mitigating common errors.

01 #1. Gather Essential Documents Early

One of the primary reasons for tax return delays is missing documentation. Encourage clients to compile the necessary forms, including:

Income Statements: W-2s for employees, 1099s for independent contractors, and other income-related documents.
Expense Records: Receipts for deductible business expenses, home office costs, medical expenses, and charitable contributions.
Previous Tax Returns: Reviewing past filings ensures consistency and helps identify potential deductions or credits.
Investment and Retirement Contributions: 1099-INT, 1099-DIV, and Form 5498 for IRA contributions.

Having these documents ready early streamlines the filing process, reducing the likelihood of last-minute stress.

02 #2. Leverage E-Filing for Speed and Accuracy

Encourage clients to opt for electronic filing (e-filing), which offers several advantages:

Reduces Errors: E-filing software performs automated calculations, minimizing the risk of human errors.
Provides Immediate Confirmation: Clients receive instant acknowledgment that their tax return has been submitted.
Faster Refunds: The IRS processes electronically filed return more quickly, especially if direct deposit is chosen.

The IRS provides Free File for taxpayers earning $84,000 or less, enabling them to e-file at no cost.

03 #3. Verify Personal and Financial Information

Even minor errors can lead to tax return rejections or processing delays. Double-check:

Social Security numbers for accuracy.
Legal names matching IRS and Social Security Administration records.
Bank details for direct deposit refunds.

Mistakes in these areas can delay refunds or result in notices from the IRS.

04 #4. Maximize Deductions and Credits

Help clients minimize their tax liability by ensuring they take full advantage of available deductions and credits:

Business Deductions: Home office expenses, business travel, professional development costs, and software subscriptions.
Education Credits: American Opportunity Credit and Lifetime Learning Credit for eligible education expenses.
Retirement Contributions: Maximizing IRA and 401(k) contributions can lower taxable income.
Health Savings Account (HSA) Contributions: Tax-deductible contributions can reduce taxable income.

Accurate record-keeping and documentation are essential to substantiate these claims in case of an IRS audit.

05 #5. Avoid Common Filing Mistakes

Mistakes can result in audits, penalties, or delayed refunds. The most frequent errors include:

Math miscalculations or incorrect figures.
Incorrect filing status (e.g., filing as “Single” instead of “Head of Household” when eligible).
Failing to sign and date paper returns (electronic filings require a PIN instead).

Using professional tax software or consulting with a tax expert significantly reduces the likelihood of errors.

Hire expert tax professionals to streamline
your tax preparation and ensure compliance.

Unison Globus delivers precision-driven tax solutions tailored for CPAs, EAs, and accounting firms. Hire Unison Globus today for seamless, error-free tax filing! Get in touch now

06 #6. Consider Filing an Extension if Needed

If a client cannot file their return by April 15, filing an extension can provide additional time to prepare:

Submit Form 4868: This application grants an automatic six-month extension until October 15.
Understand Tax Payments: An extension to files does not mean an extension to pay. Any taxes owed should be estimated and paid by April 15 to avoid interest and penalties.

While extensions offer flexibility, filing sooner helps clients avoid last-minute stress and potential IRS scrutiny.

07 #7. Stay Informed About IRS Resources and Tax Law Changes

The IRS offers valuable resources to help taxpayers file accurately:

Interactive Tax Assistant for answering common tax law questions.
“Where’s My Refund?” tracking tool to monitor refund status.
Special assistance, including extended hours at select locations, to support last-minute filers (IRS newsroom).

Additionally, staying updated on recent tax changes ensures compliance and maximizes tax-saving opportunities.

08 #8. Be Cautious of Tax Scams

With the rise of digital fraud, warn clients about common tax scams:

Phishing Emails and Phone Calls: The IRS does not initiate contact via email, text, or social media to request financial details.
Fake IRS Representatives: Scammers impersonate IRS agents to demand immediate payments. Always verify directly through the official IRS website.
Identity Theft: Encourage clients to use secure passwords and enable multi-factor authentication when accessing tax filing software.

Staying vigilant helps clients protect their financial data and prevent fraud.

Key Takeaways for CPAs, EAs, and Accounting Firms

Help clients file early to avoid penalties and maximize refunds.
Leverage e-filing and automation for accuracy and efficiency.
Review tax deductions and credits carefully to optimize tax savings.
Monitor IRS updates to stay compliant with new regulations.
Advise on tax payment options to prevent financial strain for clients.

By implementing these strategies, CPAs and tax professionals can provide top tier tax services while ensuring clients remain stress-free during the filing season.

09 #9. Manage Tax Payments Wisely

For clients who owe taxes, planning for payments is essential:

Electronic Payment Options: IRS Direct Pay and Electronic Federal Tax Payment System (EFTPS) allow secure, instant payments.
Installment Agreements: If unable to pay in full, setting up a payment plan with the IRS can prevent further penalties.
Estimated Tax Payments: Self-employed individuals should make quarterly estimated payments to avoid underpayment penalties.

Proper tax planning reduces financial strain and ensures compliance.

10 #10. Maintain Proper Records for Future Reference

Encourage clients to retain copies of tax returns and support documents for at least three years:

Helps resolve discrepancies with the IRS if questions arise.
Provides documentation for financial planning and loan applications.
Serves as a reference for next year’s filing.

Organized record-keeping simplifies future tax filings and ensures compliance with audit requirements.

Final Thoughts: Partner with Experts for Hassle-Free Tax Filing

The tax season can be overwhelming for businesses and individuals alike. By adopting proactive filing strategies, leveraging available IRS resources, and staying vigilant against common pitfalls, CPAs, EAs, and accounting firms can help their clients navigate tax season with confidence.

At Unison Globus, we specialize in providing outsourced tax preparation services tailored for North America-based accounting firms. Our expert team ensures accurate, timely, and compliant tax filings, freeing you to focus on strategic financial advising for your clients.

Looking for expert tax preparation and compliance solutions? Contact Unison Globus today to streamline your tax season and maximize your efficiency.

Pro Tips - For a Hassle-Free Tax Filing Process

Accounting

Choosing Between AI and RPA: What US CPAs and Accounting Firms Need to Know

Post author By unison_globus
Post date March 17, 2025

As technology continues to reshape the accounting industry, Artificial Intelligence (AI) and Robotic Process Automation (RPA) have emerged as two leading solutions for enhancing efficiency and accuracy. While both technologies offer significant advantages, understanding their distinct roles is crucial for US-based CPAs, EAs, and accounting firms seeking to optimize their processes.

This blog explores AI vs. RPA in accounting, their applications, benefits, and how to determine the best fit for your firm.

Understanding AI and RPA in Accounting AI VS RPA

What is AI in Accounting?

AI in accounting leverages machine learning and natural language processing (NLP) to analyze large volumes of financial data, identify patterns, and make predictions. AI-driven tools continuously improve accuracy and enhance decision-making capabilities over time.

Key Applications:

Fraud detection: AI detects anomalies in financial transactions to identify potential fraud.
Predictive analytics: AI forecasts cash flow trends, tax liabilities, and risk factors.
Chatbots & virtual assistants: AI-powered assistants handle client queries and automate customer support.
Automated data analysis: AI reviews and interprets financial statements, reducing manual effort.

What is RPA and How Does it Apply to Accounting?

RPA, on the other hand, is designed to mimic repetitive human tasks by automating structured processes. Unlike AI, RPA does not learn from data but follows predefined rules to perform manual tasks efficiently.

Key Applications:

Accounts Payable & Receivable Automation: Processing invoices, payments, and reconciliations.
Bank Reconciliations: Matching bank transactions with accounting records for accuracy.
Tax Compliance: Automating data collection, tax form population, and filing.
Data Entry & Organization: RPA downloads statement, categorizes transactions, and inputs data into accounting software.

AI vs. RPA: Which is Better for Accounting Automation?

Choosing between AI and RPA depends on the specific needs of your accounting firm. AI excels in data-driven decision-making, predictive analysis, and learning from financial patterns, making it ideal for strategic and analytical functions. On the other hand, RPA specializes in rule-based automation, ensuring accuracy and compliance in repetitive tasks such as invoicing, reconciliations, and tax filings.

Here’s a comparison of AI and RPA based on their key features and best use cases:

Feature	AI	RPA
Learning & Adaptability	Learn over time	Follows predefined rules
Decision-Making	Analyzes & predicts	Executes repetitive tasks
Compliance	May require additional oversight	Ensure strict regulatory adherence
Best Use Cases	Fraud detection, analytics, chatbots	Data entry, reconciliations, compliance automation
Implementation Complexity	Requires data training	Easier to implement

While AI and RPA serve different purposes, many firms are now adopting a hybrid approach where AI enhances RPA’s efficiency. For example, AI can analyze financial data and detect anomalies, while RPA executes compliance checks and automates structured workflows. This combination ensures a seamless and highly efficient accounting automation strategy, allowing firms to stay ahead in a competitive market.

AI and RPA Adoption in Accounting:

Adoption of AI and RPA by U.S. Accounting Firms

A recent survey by Thomson Reuters indicates that 93% of large tax and accounting firms are actively using, exploring, or considering AI technologies to enhance efficiency and reduce costs. Mid-sized firms are also recognizing the benefits, particularly with RPA, which provides a lower barrier to entry for automation.

Reduction in Manual Workload Due to Automation

According to a KPMG report, 62% of U.S. companies are utilizing AI to a moderate or large extent in their finance functions. Firms that have embraced automation report a 40% reduction in manual workload, leading to cost savings and improved compliance.

Ready to integrate AI and RPA
in your accounting firm?

Unison Globus specializes in outsourcing solutions to assist CPAs and accounting firms enhance efficiency and accuracy. Book a free consultation today and future-proof your accounting operations!

Choosing the Right Technology for Your Accounting Firm

When to Choose AI:

You need advanced data analysis and predictive insights.
You want to automate decision-making and enhance client advisory services.
Your firm is ready to invest in training AI models and managing AI compliance risks.

When to Choose RPA:

You require accuracy and compliance in routine accounting tasks.
You want a cost-effective automation solution with minimal setup.
Your firm handles high-volume, repetitive data entry tasks that do not require complex decision-making.

AI and RPA Integration: The Future of Accounting Automation

Instead of choosing between AI and RPA, many firms are now integrating both technologies. AI enhances RPA’s capabilities by introducing intelligence to automation workflows, allowing firms to:

Automate data-driven decision-making with AI-powered insights.
Improve efficiency by using RPA bots to execute AI-generated recommendations.
Reduce errors and ensure compliance while leveraging AI for risk management.

Final Thoughts: Digital Transformation in Accounting

For North American CPAs and accounting firms, AI and RPA represent a strategic shift toward automation. While AI excels in complex data analysis and insights, RPA ensures compliance and operational efficiency. Firms that combine both technologies can achieve unparalleled efficiency, accuracy, and strategic growth.

As automation technology continues to evolve, accounting professionals who embrace AI and RPA-driven solutions will be better positioned to enhance client service, scale operations, and stay competitive in the digital era.

Is your firm ready to implement AI and RPA?

Explore how Unison Globus can help you navigate the future of accounting automation today!

Unison Globus, a trusted partner for North America-based CPAs, EAs, and accounting firms, specializes in delivering cutting-edge outsourcing solutions for accounting, taxation, and finance. With a strong focus on efficiency and innovation, Unison Globus helps firms leverage automation technologies to streamline workflows and improve accuracy.

Disclaimer: This blog is for informational purposes only and provides insights into current trends in AI and RPA adoption in accounting. The information shared does not constitute financial or business advice. Firms should conduct their own research or consult experts before making automation decisions.

AI VS RPA - The Future of Accounting Automation AI VS RPA

Accounting Tax Preparation

Get Ready for Tax Season: Your Complete Preparation Checklist

Post author By unison_globus
Post date February 28, 2025

For CPAs, EAs, and accounting firms, tax season is the most demanding time of the year. With numerous deadlines, evolving tax laws, and high client expectations, preparation is key to ensuring smooth operations. By staying organized and leveraging the right tools, firms can increase efficiency, reduce stress, and enhance client satisfaction.

At Unison Globus, we specialize in providing outsourced tax preparation, bookkeeping, and CPA support services to help firms navigate the complexities of tax season with ease. Our CPA services are designed to assist accounting firms in managing high-volume tax filings, ensuring compliance, and optimizing operational efficiency.

This guide provides a step-by-step tax preparation checklist, covering key deadlines, essential document organization, technology integration, tax law updates, client communication strategies, and workload management tips. Whether you’re an independent CPA or part of a growing accounting firm, this checklist will help you stay ahead during tax season.

Understanding Key Deadlines

The accounting industry has witnessed a seismic transformation in recent years, shaped by rapid technological advancements, evolving client expectations, and an increased emphasis on advisory services. These changes present both challenges and opportunities for CPA firms to redefine their roles and enhance their value proposition.

01. Examples of Non-Accounting Talent

Missing tax deadlines can result in consequences and unnecessary stress. Here are some critical dates to remember:

January 31, 2025 – Deadline for employers to issue W-2s and 1099s to employees and independent contractors.
March 15, 2025 – Filing deadline for S corporations (Form 1120-S) and partnerships (Form 1065).
Marketing Professionals: Experts in branding, client outreach, and digital marketing to help firms grow their client base.
April 15, 2025 – Individual tax returns (Form 1040), C corporation tax returns (Form 1120), and first quarter estimated tax payments are due.
June 15, 2025 – Second quarter estimated tax payments due.
September 15, 2025 – Third quarter estimated tax payments and extended deadlines for S corporations and partnerships.
October 15, 2025 – Final deadline for extended individual tax returns (Form 1040).

02. State Tax Deadlines

Each state has its own tax deadlines and requirements. CPAs and accounting firms should verify:

State-specific tax filing dates
Quarterly estimated tax deadlines
Unique state regulations affecting deductions, credits, and compliance

By maintaining an updated state tax deadline calendar, firms can proactively manage client filings and avoid last-minute complications.

Organizing Client Information

01. Gathering Necessary Documents

Clients should provide all relevant financial documents in a timely manner. A tax document checklist should include:

Income-related documents: W-2s, 1099s, K-1s, and investment statements
Expense records: Mortgage interest (Form 1098), business expense receipts, and medical bills
Tax compliance forms: Prior-year tax returns, state-specific tax documents, and IRS correspondence

Tip: Encourage clients to use secure portals for document submission to ensure data security and streamline the collection process.

02. Implementing a Document Management System

A digital document management system simplifies tax season preparation by:

Reducing paper clutter and improving accessibility
Enhancing data security with encrypted storage
Facilitating quick retrieval of client records

03. Recommended tools:

Canopy – Secure cloud-based tax document storage
Drake Documents – Integrated solution for CPAs
Smart Vault – Easy file sharing for accountants

Investing in the best document management software for accountants ensures seamless client data organization.

Section 3: Leveraging Technology

01. Tax Preparation Software

Choosing the right tax software is crucial for accuracy and efficiency. Best tax preparation software for 2025 should offer:
Automated tax calculations for reduced errors
Seamless e-filing for federal and state tax returns
Client portals for secure document exchange

Top picks for CPAs:

UltraTax CS – Comprehensive tax compliance
Lacerte – Best for complex tax returns
Drake Tax – Affordable and user-friendly

02. Automation Tools for Efficiency

Using tax automation tools can help accounting firms streamline repetitive tasks, including:

Automated data entry – Reduces manual errors
AI-powered tax review – Identifies compliance issues
Automated client reminders – Keeps clients on track Facilitating quick retrieval of client records

Recommended tax automation tools:

TaxDome – CRM & workflow automation
Xero Tax – Cloud-based tax automation
Karbon – AI-driven accounting workflow

By integrating tax software for CPAs and automation tools, firms can save time, enhance accuracy, and improve client service.

Staying Informed of Tax Law Changes

Recruiting the right talent requires a thoughtful strategy:

01. Federal Tax Law Updates for 2025

Recent IRS tax law changes impact deductions, credits, and filing requirements. Key updates include:

Changes to standard deductions and tax brackets
Modifications to business tax credits
New IRS compliance requirements

Stay informed: Subscribe to IRS updates and leverage tax research platforms like Checkpoint or Bloomberg Tax.

02. State Tax Law Changes

Tax regulations vary by state, with new laws affecting:

State-specific deductions and credits
Compliance rules for remote workers
Updates on corporate tax rates

Tip: Use state tax tracking tools like Avalara or CCH Answer Connect to stay up to date.

Stay Ahead This Tax Season
with Unison Globus!

Partner with Us for Hassle-Free Tax Preparation!
Schedule a Consultation Today and Optimize Your Tax Workflow! Contact us now!

Enhancing Client Communication

01. Effective Communication Strategies

Clear and proactive communication helps manage client expectations. Best practices include:

Sending tax reminders via email or text
Hosting webinars on tax law changes
Providing FAQs to address common tax concerns

Recommended tools for client communication:

Practice Ignition – Automates client engagement
Slack or Microsoft Teams – Improves internal and client collaboration

Client Education Resources Educating clients about tax season improves compliance and trust. Provide:

Downloadable tax preparation checklists
Informative tax planning newsletters
One-on-one tax season consultations

Tip: Offer a “Subscribe for Tax Tips” option to keep clients engaged year-round.

Managing Workload and Stress

01. Time Management Techniques

To avoid burnout, CPAs and accounting firms should:

Prioritize high-value tasks and batch similar work
Set realistic client expectations
Take breaks to maintain focus

02. Delegation and Outsourcing

Outsourcing non-core tasks can help firms stay efficient. Consider:

Outsourcing tax preparation to reliable third-party providers
Hiring seasonal staff for administrative work
Using virtual assistants for appointment scheduling

Why outsource?

Reduces workload during peak season

Improves turnaround time for clients

Allow firms to focus on high-level advisory services

Read Also: Taming Tax Season: Solutions for CPA Firms Facing Talent Shortages

Conclusion

Preparing for tax season requires a proactive approach. By staying ahead of deadlines, implementing efficient document management, leveraging tax software, keeping up with tax law changes, and maintaining strong client communication, CPAs and accounting firms can streamline their workflow and enhance client satisfaction.

With the right strategies, tax season doesn’t have to be stressful, let Unison Globus assist you optimize your tax preparation process!s

Master TAX Season - Your Ultimate Preparation Checklist Get Ready for Tax Season

Categories
Accounting

S Corporation vs C Corporation: A Side-by-Side Comparison

Post author By unison_globus

Post date February 13, 2025

When structuring a business, choosing the right entity type is crucial for taxation, compliance, and long-term financial goals. Among the most common business structures in the U.S., S Corporations (S Corps) and C Corporations (C Corps) offer distinct advantages and limitations. While both provide liability protection and a corporate structure, their tax treatment, ownership restrictions, and operational requirements differ significantly.

For CPAs, EAs, and accounting professionals advising clients on business structures, understanding the nuances of S Corps vs. C Corps is essential. Let’s explore the key differences to help businesses make informed decisions.

S Understand S Corporations

Definition and Overview An S Corporation (S Corp) is a business entity that chooses to pass corporate income, deductions, and credits through to shareholders for tax purposes. This structure allows businesses to avoid double taxation while still benefiting from limited liability protection.

Formation and Eligibility To form an S Corporation, businesses must:

File Articles of Incorporation with the state.

Elect S Corporation status by submitting Form 2553 to the IRS.

Meet eligibility criteria, including:

No more than 100 shareholders.

Shareholders must be U.S. citizens or resident aliens.

Allowed shareholders: Individuals, certain trusts, and estates (no corporations or partnerships).

Only one class of stock is allowed.

C Understand C Corporations

Definition and Overview A C Corporation (C Corp) is a separate legal entity that provides limited liability to its owners but is subject to corporate taxation.

Formation and Eligibility To establish a C Corporation, businesses must:

File Articles of Incorporation with the state.

Adopt corporate bylaws and appoint directors.

Issue stock to shareholders.

Comply with state and federal reporting requirements.

Taxation: Pass-Through vs. Double Taxation S Corporation VS C Corporation

S Corporation:

Taxed as a pass-through entity, meaning income, deductions, and credits pass through to shareholders' personal tax returns.

Avoids double taxation since corporate earnings are not taxed at the entity level.

Shareholders pay taxes on profits at their individual income tax rates.

Must file Form 1120-S, but taxes are reported on Schedule K-1 for shareholders.

C Corporation:

Subject to double taxation—the corporation pays taxes at the entity level, and shareholders pay taxes on dividends.

Federal corporate tax rate: 21% (as per the Tax Cuts and Jobs Act - TCJA).

Dividends paid to shareholders are taxed at capital gains rates.

Must file Form 1120 for corporate taxes.

Key Takeaway: S Corps provide tax efficiency by avoiding double taxation, making them ideal for small businesses. However, C Corps offer tax planning flexibility and reinvestment advantages at the corporate level.

Ownership Structure & Restrictions S Corporation VS C Corporation

S Corporation:

Limited to 100 shareholders.

Shareholders must be U.S. citizens or resident aliens.

Only individuals, estates, and certain trusts can own shares (no corporations or partnerships as shareholders).

Can only issue one class of stock (voting and non-voting stock allowed, but no preferred stock).

C Corporation:

No ownership limits—can have unlimited shareholders.

It can be owned by individuals, corporations, partnerships, and foreign investors.

Can issue multiple classes of stock, including common and preferred shares.

Key Takeaway: S Corps are restrictive in ownership but simpler for closely held businesses. C Corps offer scalability and investment flexibility, making them preferable for businesses seeking venture capital or public offerings.

Self-Employment Taxes & Payroll Considerations S Corporation VS C Corporation

S Corporation:

Shareholders who work for the business must receive a reasonable salary (subject to payroll taxes).

Remaining profits (distributions) are not subject to self-employment tax.

Owners can minimize self-employment tax liability by structuring compensation strategically.

C Corporation:

All earnings paid as salary are subject to payroll taxes.

Dividends paid to shareholders are not subject to self-employment tax, but they are taxed separately at the shareholder level.

Employee benefits, such as health insurance, can be fully deductible at the corporate level.

Key Takeaway: S Corps provide a tax advantage by allowing distributions free from self-employment tax, but the IRS requires reasonable salary payments. C Corps provide more options for employee benefits but are subject to corporate and dividend taxation.

Need assistance choosing
between an S Corp and a C Corp?

Let Unison Globus guide you with expert tax and accounting advice. Contact us today for a consultation!

Compliance, Reporting, and Formalities S Corporation VS C Corporation

S Corporation:

Requires articles of incorporation and corporate bylaws.

Must elect S Corporation status by filing Form 2553 with the IRS.

Needs to hold annual meetings and maintain corporate minutes.

Fewer compliance requirements compared to C Corps.

C Corporation:

Requires more formalities, including regular board meetings, minutes, and shareholder meetings.

Subject to state-specific regulations and compliance.

More extensive record-keeping and documentation required.

Key Takeaway: S Corps have fewer administrative burdens, making them easier to manage. C Corps, while more complex, offer advantages for larger businesses with diverse stakeholders.

Business Growth & Fundraising Capabilities S Corporation VS C Corporation

S Corporation:

Limited fundraising options due to restrictions on ownership and stock issuance.

Typically funded through personal investments, business loans, or retained earnings.

Cannot attract venture capital or issue preferred stock.

C Corporation:

Better suited for raising capital through venture funding, stock issuance, or IPOs.

No ownership restrictions, allowing investors and institutional funding.

Ability to issue multiple stock classes provides strategic funding options.

Key Takeaway: For high-growth startups and businesses seeking external investors, C Corps are the preferred choice. S Corps work best for smaller, closely held businesses that do not plan to seek venture capital.

Which One is Right for Your Clients? S Corporation VS C Corporation

When advising clients, CPAs and EAs should assess the business’ size, growth plans, and tax preferences:

S Corporation is best for: small businesses, professional services firms, and owner-operated businesses seeking pass-through taxation and tax efficiency.

C Corporation is ideal for: larger businesses, startups planning to raise capital, and companies seeking investment flexibility.

Final Thoughts

The choice between an S Corporation and a C Corporation is pivotal in shaping a business’s financial and operational future. By carefully evaluating taxation, ownership rules, compliance obligations, and growth potential, businesses can make informed decisions aligned with their long-term objectives.

For personalized guidance, visit Unison Globus—our experts provide tailored accounting, taxation, and business structuring services to help your business thrive.

Contact us today to explore the best corporate structure for your business.

S Corp vs C Corp - Key Benefits and Pratical Advice S Corporation VS C Corporation

Categories
Accounting

The Secret of Growth: Expanding CPA Firm’s Potential with Non-Accounting Talent

Post author By unison_globus

Post date January 20, 2025

In today’s fast-evolving financial landscape, CPA firms face mounting challenges to go beyond their traditional roles. To stay competitive, they must embrace innovation, diversify their expertise, and deliver value-added services that meet increasing client demands. While technical accounting skills remain critical, the integration of non-accounting talent can be a game changer for achieving growth and sustaining a competitive edge.

Unison Globus stands out as a reliable offshoring partner for CPAs, EAs, and accounting firms in the US, offering tailored solutions that enable firms to access a global pool of skilled professionals.

By partnering with Unison Globus, CPA firms can leverage not only accounting expertise but also the diverse talents needed to expand service offerings. Whether through innovative IT support, data analytics, or marketing solutions, Unison Globus enables firms to bridge talent gaps, drive operational efficiency, and achieve unparalleled growth.

This blog explores how integrating non-accounting talent into CPA firms can unlock new opportunities, expand capabilities, and position firms as leaders in the ever-changing accounting industry.

The Changing Landscape of CPA Firms 01

The accounting industry has witnessed a seismic transformation in recent years, shaped by rapid technological advancements, evolving client expectations, and an increased emphasis on advisory services. These changes present both challenges and opportunities for CPA firms to redefine their roles and enhance their value proposition.

01. From Compliance to Strategy
Traditionally, CPA firms focused on compliance tasks such as tax filing, auditing, and bookkeeping. However, the modern CPA firm is expected to deliver strategic insights that guide client decision-making. By expanding their roles to include advisory and consulting services, CPA firms can position themselves as indispensable partners in their clients’ financial journeys.

02. Adapting to Competitive Pressures
To stay relevant in an increasingly competitive market, CPA firms must innovate and diversify their offerings. Firms that fail to adapt risk being left behind as clients gravitate toward service providers offering more comprehensive and forward-thinking solutions. Innovation is no longer optional, it’s essential for survival and growth.

03. The Role of Technology
Technology has become a driving force in reshaping the accounting landscape:

AI and Automation: Automation tools are eliminating repetitive tasks, freeing up time for professionals to focus on higher-value services.

Data Analytics: Advanced analytics enable firms to uncover actionable insights and enhance decision-making.

Cloud Accounting: Cloud-based platforms provide real-time access to financial data, improving collaboration and efficiency.

For CPA firms, these technological shifts create opportunities to redefine their services and explore new avenues for growth. However, leveraging these tools effectively often requires expertise that extends beyond traditional accounting skills—a gap that non-accounting talent can fill.

Understanding Non-Accounting Talent 02

As CPA firms evolve to meet the demands of a modern, tech-driven marketplace, the inclusion of non-accounting talent has emerged as a powerful strategy for staying competitive. These professionals bring expertise that complements traditional accounting roles, helping firms diversify their service offerings and address complex client needs.

01. What is Non-Accounting Talent?
Non-accounting talent refers to individuals with specialized skills outside the core accounting domain but critical to enhancing a CPA firm’s capabilities. These professionals fill roles that support innovation, efficiency, and client satisfaction.

02. Examples of Non-Accounting Talent
Non-accounting professionals bring a wide array of skills to the table, including:

Data Analysts: Experts in analyzing financial and operational data, providing actionable insights that inform strategic decisions.

IT Specialists: Professionals skilled in managing and integrating accounting software, cybersecurity, and digital transformation initiatives.

Marketing Professionals: Experts in branding, client outreach, and digital marketing to help firms grow their client base.

Legal Advisors: Specialists offering guidance on regulatory compliance, contracts, and risk management.

HR Specialists: Experts in talent acquisition, employee engagement, and workforce management to build a strong organizational culture.

03. Filling Talent Gaps
Identifying and addressing talent gaps is critical for CPA firms aiming to meet diverse client demands. Non-accounting talent can play a pivotal role in:

Enhancing Service Offerings: Meeting client demands for broader services such as financial planning, IT consulting, and compliance support.

Addressing Emerging Needs: Filling roles that require expertise in technology integration, data visualization, or business strategy.

Read Also: Overcoming Talent Shortages: CPA Firms’ Guide to a Smooth Tax Season

04. Adding Value to CPA Firms
Incorporating non-accounting talent brings a host of benefits, including:

Increased Efficiency: Streamlining operations with specialized expertise in technology and process improvement.

Fostering Innovation: Encouraging new perspectives and ideas that challenge the status quo.

Improved Client Experience: Offering a comprehensive range of services that meet diverse client needs, driving satisfaction and loyalty.

By integrating non-accounting talent, CPA firms can build a well-rounded team capable of delivering holistic solutions, setting themselves apart in an increasingly competitive landscape.

Benefits of Hiring Non-Accounting Talent 03

Incorporating non-accounting talent into a CPA firm’s workforce offers transformative advantages:

Expanded Services: Data analytics, IT integration, and business strategy consulting can elevate the firm’s offerings.

Enhanced Client Satisfaction: Diverse expertise enables CPA firms to cater to complex client needs effectively.

Innovation and Growth: Fresh perspectives foster creativity, leading to new service models and improved operational efficiency.

Transform Your CPA Firm Today!

Advance your firm’s potential with Unison Globus, the trusted offshoring partner for CPAs and accounting firms. Our tailored solutions connect you with diverse, skilled professionals who drive growth, innovation, and efficiency. Contact us now! Your growth journey begins here.

Strategies for Recruiting Non-Accounting Talent 04

Recruiting the right talent requires a thoughtful strategy:

Attracting Talent: Use targeted job descriptions emphasizing growth opportunities and impact.

Fostering Inclusion: Build a supportive culture where diverse skills are valued.

Partnering for Success: Collaborate with offshoring experts like Unison Globus to access a global pool of specialized professionals.

Overcoming Challenges 05

Integrating non-accounting talent into a CPA firm’s workforce can unlock significant opportunities for growth and innovation. However, this process is not without its challenges. By proactively addressing potential hurdles, CPA firms can ensure a seamless transition that maximizes the benefits of a diverse and skilled team.

01. Resistance to Change
Change often encounters resistance, particularly in industries with established practices like accounting.

Addressing Concerns: Employees may worry about job security or shifts in their roles. Open communication highlighting the benefits of non-accounting talent—such as improved efficiency, expanded services, and growth opportunities—can alleviate these fears.

Leadership Support: Strong leadership is critical. Firm leaders should champion the integration process, demonstrating commitment to the initiative and addressing concerns transparently.

02. Team Integration
Introducing non-accounting professionals into existing teams requires thoughtful planning to ensure alignment and collaboration.

Cross-Functional Training: Provide training programs that enable team members to understand and leverage the expertise of non-accounting professionals. For example, accountants could learn how data analytics enhances financial reporting.

Team-Building Activities: Foster a culture of collaboration by organizing activities that help build rapport and mutual understanding among team members from different disciplines.

Clear Roles and Expectations: Clearly define the roles and responsibilities of non-accounting talent to avoid confusion and overlap with existing positions.

03. Ongoing Development
The accounting industry is constantly evolving, making it crucial for all team members—accounting and non-accounting alike—to stay updated on industry trends and skills.

Continuous Learning Opportunities: Invest in professional development programs, certifications, and workshops to enhance skillsets and keep the workforce competitive.

Encouraging Lifelong Learning: Foster a culture where employees are encouraged to upskill regularly, ensuring the firm remains at the forefront of industry advancements.

Mentorship Programs: Pair non-accounting professionals with seasoned staff members to facilitate knowledge sharing and mutual growth.

04. Cultural Alignment
Integrating non-accounting talent isn’t just about skills—it’s about building a cohesive workforce.

Inclusive Workplace Policies: Create policies that promote inclusivity and ensure all employees feel valued, regardless of their professional background.

Celebrating Successes: Recognize and celebrate milestones achieved through cross-disciplinary collaboration, reinforcing the value of a diverse workforce.

By tackling these challenges head-on, CPA firms can create an environment where non-accounting talent thrives alongside traditional roles, driving innovation, efficiency, and growth.

Final Thoughts

Expanding CPA firms’ potential through non-accounting talent is not just an option, it’s a necessity for sustainable growth. Unison Globus offers unparalleled offshoring solutions, providing access to diverse, skilled professionals who can help CPA firms thrive in an evolving marketplace.

Ready to transform your workforce?

Explore Unison Globus’s services and discover how our expertise can empower your firm to achieve unparalleled success.

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Accounting

2025 Financial Outlook: COLA Adjustments and Asset Management Trends

Post author By unison_globus

Post date January 13, 2025

As we step into 2025, financial professionals, businesses, and individuals are navigating a landscape shaped by economic shifts, legislative changes, and evolving market dynamics. For US-based CPAs, EAs, and accounting firms, staying informed about these trends is essential to offering effective guidance to clients. This article explores the key aspects of the 2025 financial outlook, focusing on Cost-of-Living Adjustments (COLA) and asset management trends, while highlighting strategies for maximizing opportunities in a complex economic environment.

Understanding the 2025 Financial Landscape

01. Economic Growth Projections

The global economy is anticipated to grow modestly in 2025, with varying impacts across regions. Market predictions indicate that while certain sectors like technology and green energy will see robust growth, others may face challenges due to inflationary pressures and geopolitical uncertainties. Financial planning must account for these nuances, tailoring strategies to clients’ unique circumstances.

02. Inflation and Its Impact on Investments

Persistent inflation continues to influence financial stability and investment returns. For accounting firms, understanding inflation’s impact on retirement planning, asset allocation, and wealth management is crucial. Inflation-adjusted strategies can help clients protect their portfolios and maintain purchasing power.

How Do Cost of Living Adjustments (COLAs) Operate and What Is It?

A Cost of Living Adjustment (COLA) is an annual change in monetary benefits aimed at offsetting the effects of inflation. These adjustments ensure that beneficiaries of programs such as Social Security and federal retirement plans maintain their purchasing power despite rising living costs. COLA prevents the deterioration of income value due to inflation, providing financial stability to recipients.

How COLA Works

Calculation Basis: COLA is typically determined based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). When the CPI-W reflects an increase in inflation, corresponding adjustments are made to benefits.

Implementation: The Social Security Administration (SSA) and other regulatory bodies announce COLA changes annually, usually taking effect at the start of the calendar year.

Application to Benefits: The adjustment applies to retirement benefits, pensions, and other income-dependent programs, ensuring recipients’ income adjusts in line with inflation.

For US-based CPAs, EAs, and accounting firms, understanding COLA calculations is essential for advising clients on retirement and tax planning strategies. By leveraging COLA updates, firms can help clients optimize their financial plans and safeguard long-term goals.

Key COLA Adjustments in 2025

01. Key Updates for 2025

The annual compensation limit under Section 401(a)(17) has increased to $350,000 from $345,000 in 2024.

Elective deferral limits under Section 402(g)(1) have risen to $23,500, up from $23,000.

SIMPLE plan contributions have increased to $16,500, reflecting rising thresholds.

For more details, professionals can visit the Centre of Excellence.

02. COLA’s Impact on Investments

COLA adjustments influence long-term planning by altering the dynamics of fixed-income investments and retirement distributions. For example, retirees relying on fixed benefits may see an increase in payouts, which can impact the sustainability of retirement portfolios.

Maximize Your Potential in
2025 with Unison Globus!

Empower your practice with expert outsourcing solutions tailored for US-based CPAs, EAs, and accounting firms. Streamline your accounting, taxation, and management tasks while focusing on strategic growth. Contact us today to unlock success in 2025!

Asset Management Trends for 2025

01. The Future of Asset Management

Asset management in 2025 is defined by technological integration, ESG (Environmental, Social, and Governance) considerations, and a focus on personalization. Firms are leveraging AI-driven tools to provide data-backed investment advice, offering a competitive edge.

02. Emerging Trends

Sustainable Investing: The demand for ESG-compliant investments continues to grow, prompting firms to prioritize sustainability in their offerings.
Digital Transformation: Automation and blockchain technology are streamlining processes, reducing costs, and enhancing transparency.
Customized Solutions: Personal finance tips tailored to individual goals are becoming the norm, requiring firms to adopt a more client-centric approach.

Strategic Insights for Financial Professionals

01. Investment Opportunities in 2025

Market analysis points to lucrative opportunities in renewable energy, technology, and healthcare sectors. Diversification and proactive market predictions are vital for capitalizing on these trends.

02. Wealth Management Strategies

Wealth management in 2025 emphasizes holistic planning, integrating tax-efficient investment strategies, estate planning, and retirement solutions. CPAs and EAs can differentiate their services by offering comprehensive solutions that address both immediate and long-term financial goals.

03. Personal Finance and Retirement Planning

Encouraging clients to focus on retirement planning and personal finance tips is crucial. By aligning investment advice with clients’ life stages and goals, financial professionals can build stronger, lasting relationships.

Why Choose Unison Globus?

At Unison Globus, we specialize in empowering US-based CPAs, EAs, and accounting firms with expert outsourcing solutions. Our services streamline accounting, taxation, and management tasks, enabling firms to focus on strategic growth and client satisfaction.

Contact Us Today

Stay ahead in 2025 by partnering with Unison Globus. Our team of professionals is here to support your financial success.
Contact us today to explore how we can add value to your practice.

Conclusion

The 2025 financial outlook presents both challenges and opportunities. By understanding COLA adjustments and asset management trends, financial professionals can guide clients toward stability and growth. With the right strategies, tools, and partnerships, 2025 can be a year of remarkable success for CPAs, EAs, and accounting firms.

2025 Highlights to Watch

As we step into 2025, businesses leveraging offshore accounting are poised to benefit from groundbreaking innovations:

Economic Growth Projections: Moderate global growth with focus sectors like technology and renewable energy poised for expansion.
Retirement Planning Updates: Increased thresholds for SIMPLE and SEP plans—ideal for small business clients.
Global Economic Trends: Heightened geopolitical uncertainties necessitate a diversified approach to international investments.
Personal Finance Opportunities: High-yield savings accounts and structured annuities gaining popularity for risk-averse clients.

By incorporating these updates and tips, CPAs, EAs, and accounting firms can enhance their services, helping clients navigate the challenges and opportunities of 2025 with confidence.

Categories
Accounting

Top Considerations for Choosing an Offshoring Accounting and Tax Partner in India

Post author By unison_globus

Post date December 26, 2024

Offshoring accounting and tax services has become a strategic choice for CPA firms, EAs, and accounting businesses in the U.S. With its skilled workforce, advanced technological capabilities, and cost advantages, India stands out as a preferred destination for these services. However, the success of offshoring depends heavily on choosing the right partner. Asking the right questions and evaluating key considerations can help you make an informed decision and establish a fruitful partnership.

Questions to Consider Before Hiring Offshore Accountants

01 #1. Should I Hire Offshore Accountants?

The decision to offshore accounting services depends on identifying your current challenges and goals. Here are some signs it might be time to consider offshoring:

Feeling Time-Crunched and Disconnected from Clients: Are routine tasks leaving you with little time to engage with clients and build relationships?

System upgrades: Upgrading systems to meet your specific requirements.

Difficulty Finding Skilled Local Accountants: Struggling with recruitment challenges or high turnover rates in your region?

Rising Costs and Errors with Previous Outsourcing Experiences: Have past outsourcing solutions led to increased costs or frequent mistakes?

Cash Flow Concerns Affecting Operations: Need to reduce overheads while maintaining service quality?

Desire to Focus on Core Activities: Wish to redirect resources toward strategic and client-centric operations?

If these challenges resonate with your firm, offshoring could be a transformative solution.

02 #2. What Accounting Services Should I Offshore?

Determining which tasks to offshore is critical to maximizing efficiency. Commonly offshored accounting services include:

Bookkeeping: Managing day-to-day financial records and reconciliations.

Tax Preparation: Filing returns, handling multistate taxes, and staying compliant with regulations.

Payroll Management: Ensuring accurate and timely payroll processing.

Financial Analysis: Providing insights into financial performance and growth strategies.

Advisory Services: Delivering tailored recommendations for clients.

Focus on offshoring repetitive or time-intensive tasks, allowing your in-house team to focus on strategic activities.

03 #3. Will My Offshore Partner Be Able to Scale as My Client List Grows?

Scalability is a critical factor for long-term success. A good offshore partner should be able to:

Adapt to Increased Demands: Handle a growing client base without compromising on quality.

Provide Flexible Resource Allocation: Allocate resources dynamically based on workload and priorities.

Manage Seasonal Surges: Handle peak periods such as tax seasons efficiently.

Evaluate a partner’s scalability by discussing their resource management strategies, team expansion capabilities, and infrastructure readiness.

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Financial and Client Perception Considerations

04 #4. Will Offshoring Cost Me More Money?

Offshoring often delivers cost savings, but it’s essential to evaluate the financial implications:

Lower Operational Costs: Save on overhead expenses like office space, equipment, and employee benefits.

Flexible Pricing Models: Choose from options such as hourly rates, fixed fees, or task-based pricing.

Long-Term Value: Minimize errors and ensure compliance to avoid penalties and rework costs.

Request transparent pricing details from potential partners to avoid hidden fees and ensure value for money.

05 #5. What Will My Clients Think About Offshoring?

Client perception is crucial when implementing offshoring. Common concerns include:

Data Security and Confidentiality: Clients need assurance that their financial data is protected. Choose a partner with robust encryption, SOC 2 compliance, and secure systems.

Quality Deliverables: Demonstrate how offshoring enhances service accuracy and efficiency.

Building Trust: Openly communicate the benefits of offshoring to your clients, emphasizing how it improves service quality and responsiveness.

Proactively addressing these concerns helps build trust and maintain strong client relationships.

How to Choose the Right Offshore Accounting Partner

06 #6. Key Factors to Evaluate

Selecting the right partner involves evaluating their expertise, infrastructure, and compatibility with your firm. Here are the key attributes to consider:

Industry Knowledge: Ensure the partner understands U.S. accounting standards, tax regulations, and industry-specific requirements.

Team Qualifications: Look for certifications such as CPA, EA, or equivalent credentials among their team members.

Communication Style: Assess their responsiveness, clarity, and ability to adapt to your preferred communication tools and schedules.

Future Growth Potential: Verify that the partner has the capacity and infrastructure to support your firm’s long-term growth.

Cost Transparency: Insist on clear pricing models without hidden fees.

Time Zone Compatibility: Ensure their work hours align with your firm’s operational needs for seamless collaboration.

Read Also: Accounting Offshoring in 2025: Top 7 Countries to Consider

Key Considerations When Choosing a Partner

When evaluating potential partners, prioritize the following factors to ensure a successful relationship:

Communication: Establish clear and consistent communication channels to minimize misunderstandings.

Turnaround Time: Verify their ability to meet deadlines, especially during critical periods.

Data Security: Ensure the partner adheres to strict data protection policies and complies with international standards.

Scalability: Confirm their ability to scale resources up or down based on your evolving needs.

Technology Compatibility: Ensure their software and tools align with your firm’s existing systems.

Compliance and Certifications: Validate their adherence to U.S. regulations and possession of necessary certifications.

Cultural Compatibility: Assess their alignment with your firm’s values, work culture, and professional standards.

Client Support: Look for dedicated account managers and regular updates to maintain transparency and trust.

Conclusion

Offshoring accounting and tax services to India offers significant advantages, including cost savings, access to skilled professionals, and improved operational efficiency. By addressing the right questions and carefully evaluating potential partners, your firm can unlock new growth opportunities while maintaining high-quality client service.

Unison Globus, with its proven expertise in offshoring accounting and tax services, is a trusted partner for CPA firms, EAs, and accounting businesses in the U.S. Our skilled professionals, robust technological infrastructure, and commitment to excellence make us the ideal choice to assist you streamline operations and achieve your business goals.

Are you prepared to advance your accounting firm?

Visit Unison Globus today and discover how we can support your success.

Let’s grow together!

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Let’s start with the ‘why’. 01

Current Trends in Tax Planning 02

01. Automation

02. Cryptocurrency and Taxation

03. Environmental Taxes and Incentives

Regulatory Updates and Compliance 03

01. Recent Tax Law Changes

02. International Tax Compliance

Future-Proof Your Tax Planning with Unison Globus

Best Practices for Modern Tax Planning 04

01. Tax Efficiency

02. Proactive Tax Strategies

03. Client Education and Communication

Leveraging Technology for Efficiency 05

Tax Planning Software

Future-Proofing Your Firm 06

01. Continuous Learning and Development

02. Adapting to Client Needs

03. But, What About the Sheer Volume of Compliance Work?

Final Thoughts <img width="640" height="640" decoding="async" src="https://unisonglobus.com/wp-content/uploads/2025/02/idea_17905062.gif">

It’s Time to Shift

What is Cash Flow Management and Why Is It Crucial in Offshoring?

Common Cash Flow Challenges in Offshore Operations

01. Currency Volatility:

02. Compliance & Tax Delays:

03. Lack of Real-Time Visibility:

04. Payment Cycle Imbalances:

Best Practices for Managing Cash Flow in Offshoring

01. Outsourcing Cash Flow Forecasting:

02. Adopt Offshore Accounting Solutions:

03. Automate Payment Schedules:

04. Centralize Reporting:

05. Maintain a Reserve Fund:

Take Control of Your Offshore Cash Flow

Value-Driven Tips:

Cash Flow Strategies for Outsourcing Partners

How to Manage Cash Flow in Offshore Operations: A Strategic Framework

Why Choose Unison Globus for Offshore Financial Management?

Conclusion: Offshore Success Starts with Strategic Cash Flow Planning <img width="640" height="640" decoding="async" src="https://unisonglobus.com/wp-content/uploads/2025/02/idea_17905062.gif">

Ready to take control of your offshore cash flow?

Cash Flow Management in Offshoring

Key IRS Updates for the 2025 Filing Season

01. Increased Digital Filing Requirements

02. Adjusted Income Thresholds and Deductions

03. Updates to Key Schedules and Forms

04. Do More with an IRS Online Account

05. Get an Identity Protection PIN (IP PIN)

Many, Many Forms: Which Tax Form to Use?

Common Tax Form Attachments

What’s in Your Mailbox?

Simplify tax season with outsourced expertise.

How to Prepare for a Smoother Tax Season

Update Your Software & Systems

Train Your Staff on New IRS Changes

Offer Early Tax Planning Consultations

Leverage Outsourced Expertise

Why Choose Unison Globus for Tax Season Support?

Final Thoughts <img width="640" height="640" decoding="async" src="https://unisonglobus.com/wp-content/uploads/2025/02/idea_17905062.gif">

Ready to simplify your 2025 tax season?

2025 Tax Season at a Glance : Forms, Facts & Filing Insights

01 #1. Gather Essential Documents Early

02 #2. Leverage E-Filing for Speed and Accuracy

03 #3. Verify Personal and Financial Information

04 #4. Maximize Deductions and Credits

05 #5. Avoid Common Filing Mistakes

Hire expert tax professionals to streamline your tax preparation and ensure compliance.

06 #6. Consider Filing an Extension if Needed

07 #7. Stay Informed About IRS Resources and Tax Law Changes

08 #8. Be Cautious of Tax Scams

Key Takeaways for CPAs, EAs, and Accounting Firms

09 #9. Manage Tax Payments Wisely

10 #10. Maintain Proper Records for Future Reference

Final Thoughts: Partner with Experts for Hassle-Free Tax Filing <img width="640" height="640" decoding="async" src="https://unisonglobus.com/wp-content/uploads/2025/02/idea_17905062.gif">

Pro Tips - For a Hassle-Free Tax Filing Process

Understanding AI and RPA in Accounting AI VS RPA

What is AI in Accounting?

Key Applications:

What is RPA and How Does it Apply to Accounting?

Key Applications:

AI vs. RPA: Which is Better for Accounting Automation?

Future-Proof Your Tax
Planning with Unison Globus

Final Thoughts

Conclusion: Offshore Success Starts with Strategic Cash Flow Planning

Final Thoughts

Hire expert tax professionals to streamline
your tax preparation and ensure compliance.

Final Thoughts: Partner with Experts for Hassle-Free Tax Filing

Ready to integrate AI and RPA
in your accounting firm?

Final Thoughts: Digital Transformation in Accounting

Understanding Key Deadlines

Organizing Client Information

Section 3: Leveraging Technology

Staying Informed of Tax Law Changes

Stay Ahead This Tax Season
with Unison Globus!

Enhancing Client Communication

Managing Workload and Stress

Need assistance choosing
between an S Corp and a C Corp?

Final Thoughts