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Digital Workflow in Intuit ProConnect Tax

CPA Practice

Wrestling with sky-high tax season burnout and subpar work-life balance. During the Intuit Accountants “Better Together” event in New York City, the Intuit ProTax Group brought together tax professionals and industry thought leaders. It’s a natural progression to go from QuickBooks to ProConnect Tax.”

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5 Critical Questions to Ask Your Accountant About Tax Planning BEFORE Tax Season

CTP

The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. Have you received specific training in tax planning?

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5 Ways Firms Can Support Entrepreneurs in 2024

CPA Practice

CPAs and accountants are uniquely positioned to help their clients out with a variety of advisory services. SMBs said they’re relying on credit cards as funding sources, while entrepreneurial hopefuls said even a bigger tax return could help them secure the funds they need to start their businesses. That hasn’t changed.

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Business Start Up Costs: Projecting Expenses and Tax Treatment

inDinero Accounting

We’ll also identify what the IRS officially regards as startup costs, so you can strategically time your expenses to maximize tax efficiency. Our accounting services for small business can help you get started on the right foot. Doing so will save you headaches come tax time.

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TAX PLANNING 101: Busting the Myth that Tax Planning is Only for the Rich! Part 1

CTP

There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.” MUCH more than an accountant merely reporting your taxes!

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Evaluating a Tax Preparer: Determining a Fair Fee

CTP

As news headlines proclaim stories of tax fraud, taxpayers may wonder how they can trust that their tax preparer is abiding by ethical practices. Fortunately, the Treasury Department provides a resource that regulates practice before the IRS for certified public accountants (CPAs), attorneys, and enrolled agents.

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Making the Most of Business Partnerships: How to Qualify for Special Tax Allocations

CTP

If this is lacking, then the IRS can simply ignore your attempt to make a special allocation on your tax returns and instead allocate the profits and losses based on ownership percentage. What is substantial economic effect? The allocations should instead match the actual economic effect on each partner.

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