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Decoding the Difference: Tax Planning vs. Advisory

CPA Practice

Tax preparation has its spotlight, tax planning follows a rhythmic beat … and tax advisory ? While we’ve used terms like tax planning and tax advisory interchangeably because they feel similar, they are quite different—like fall and winter. Proactivity Tax planning is proactive.

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Ethical Concerns in Using Tax Planning Software

CTP

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. billion on such programs in 2021 alone [1]. Tax Code, it is difficult to say whether machine learning will protect you from any wrongdoing with this particular term.

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Estate and Gift Taxes – Plan Now for Reduced Exemption in 2026

Dent Moses

Assets transferred beyond the exemption amount are typically subject to a 40% tax rate. How many estate tax returns are filed annually, and how much tax is paid? The post Estate and Gift TaxesPlan Now for Reduced Exemption in 2026 appeared first on Dent Moses, LLP.

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2021 Tax Planning for Tech Companies: Employee Retention and R&D Credits

KROST

This is one of the articles in the KROST Quarterly Technology Issue, titled “2021 Tax Planning for Tech Companies: Employee Retention and R&D Credits.” 2021 Updates. The ERTC was extended from its initial end date of January 1, 2021, to January 1, 2022. Credit amounts were also increased.

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There May Still Be Time to Cut Your Small Business 2021 Taxes

RogerRossmeisl

Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. The post There May Still Be Time to Cut Your Small Business 2021 Taxes appeared first on Roger Rossmeisl, CPA. You still have time to execute a few strategies.

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On-Demand Webinar: 2021 Year-End Tax Planning For Law Firms and Attorneys

Withum

2021 has ushered in a return to what we can consider our new normal for the foreseeable future. The post On-Demand Webinar: 2021 Year-End Tax Planning For Law Firms and Attorneys appeared first on Withum. With remote work comes complicated nexus implications that law firms must navigate.

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Wash Sale Rules and Cryptocurrency Tax Planning for 2022

Anders CPA

Crypto Tax Planning for 2022. Senate, digital assets such as cryptocurrency would have been treated the same as stock and securities in applying the wash sale rule for federal income tax purposes. This legislation would have applied to taxable years beginning after December 31, 2021. CONTACT ANDERS.