Fri.Apr 29, 2022

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Ethical Considerations for Tax Professionals: Standards and Penalties for Tax Positions

CTP

When tax professionals prepare a tax return, they are typically aiming for the return to be correct “beyond a reasonable doubt.” However, this is hardly a black-and-white matter. In the eyes of tax law, the reality is that almost nothing can be dubbed “always correct” or “always incorrect.” Rather, tax professionals must learn to navigate a world of gray.

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The Certified Payroll Professional Corner: Statutory Employees

ThomsonReuters

The Certified Payroll Professional (CPP) exam is an advanced payroll professional certification offered by the American Payroll Association ( APA ). This 190 question test can be a benefit to both payroll professionals and their employers. The CPP allows payroll professionals to demonstrate their expertise and advancement in a company. CPP benefits. .

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IRS Grants ERC Penalty Relief, Sort Of

Withum

Because the IRS is so backlogged these days, we have many clients that filed employee retention credit (ERC) claims more than six to eight months ago and still have not received the funds – for many clients, the claim is in the millions of dollars. This puts them in an awkward position because the IRS position is that once a taxpayer files a claim for the ERC, it must disallow the wages and health plan expenses giving rise to the ERC, effectively subjecting the ERC to taxation.

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Five Effective Ways To Find New Construction Clients

Randal DeHart

If you want your business to continue growing and thriving, you'll need to find ways to bring in new clients. Before the internet was commercially available, there were just as many experts advising contractors about the layout and design of yellow page ads and which books to spend money on. I say spend money because that is what it was and is now. Many of us who owned and operated construction companies spent thousands of dollars on these experts and, based on their recommendations, spent tens

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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Friday Footnotes: EY and KPMG This Week’s Big 4 Lawsuits; Eliminate Accounting Majors?; Auditors Fire Messy Municipal | 4.29.22

Going Concern

New Deloitte report: working women face alarmingly high levels of burnout despite shifting work arrangements, rise in hybrid working [ PR Newswire ] Widespread burnout and lack of flexible work continues to hinder progress in supporting working women, according to the latest Deloitte report, “Women @ Work 2022: A Global Outlook” released today.

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Penalty Abatement for Small Partnerships | Canopy

Canopy Accounting

There are a lot of compelling reasons to offer tax resolution services, but tax resolution can also get complicated, and that scares away a lot of tax professionals. Luckily, not all tax resolution is as complicated as a doubt as to liability Offer in Compromise or Trust Fund Recovery Penalty case. Penalty abatement cases are often very straightforward and still extremely valuable to clients.

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Evaluating a Tax Preparer: Understanding Reasonable Tax Positions

CTP

One of the many benefits of working with a tax professional is the guidance they provide in developing tax return positions that substantiate why certain income qualifies for tax-exemption or why you are eligible for a certain tax deduction. When tax professionals prepare a tax return, they are typically aiming for the return to be correct “beyond a reasonable doubt.

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It's Back! QuickBooks Connect 2022, Dec 7-9, in Las Vegas

Intuitive Accountant

Ted Callahan, QuickBooks Accountant Segment Leader, announced today that QuickBooks Connect is scheduled to be a face to face event again in December 2022.

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Too Much Technology – Friday Flashback

RitaKeller

“I follow three rules: Do the right thing, do the best you can, and always show people you care.” – Lou Holtz. Sometimes it seems like technology dominates our life. We are in a state of communication overload. Here’s a flashback post that gives you a partner’s perspective and also the staff’s perspective.