CTP

SEPTEMBER 16, 2022

The contribution limits for these plans are higher than the types listed above, and contributions are deductible as an adjustment to income—thus reducing AGI. Educator Expenses. In 2022, the maximum deduction increases to $300 (or $600 for two married educators). To find a Certified Tax Planner near you, click here.

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ThomsonReuters

JANUARY 4, 2024

But where do you begin building your tax planning strategy? Tax planning strategy #1: Utilize short-term staffing solutions As tax season begins, firms in need of a short-term boost in headcount should consider outsourcing services to increase workload capacity.

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CTP

AUGUST 11, 2022

Have you asked yourself, do I really have to study tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software! By Dominique Molina, CPA MST CTS.

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CTP

JANUARY 22, 2024

Based on your credentials and experience, are you equipped to handle the tax work that will be involved? Unauthorized Practice of Law When we do tax planning, we need to be aware of activities that could creep into the territory of “practice of law.” tax court, or similar representation work.

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ThomsonReuters

NOVEMBER 9, 2023

The cost of turnover can be enormous given the training and development costs most firms invest in their new hires, not to mention the cost of continuing professional education.

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CTP

AUGUST 18, 2022

Both of these are opportunities to highlight your tax planning services to a whole new audience. In these cases, a financial planner may be able to attract more clients because financial planning is a more familiar service. The endorsement of a trusted advisor can also go a long way with prospects. Join AICTP today!

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inDinero Tax Tips

DECEMBER 22, 2023

Introduction As 2023 draws to a close, it’s pivotal for small businesses to scrutinize their financial status and strategize effectively for tax reduction and a robust financial future. Despite a static tax legislative landscape, the looming possibility of future amendments necessitates proactive tax planning.

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ThomsonReuters

NOVEMBER 21, 2023

Jump to: Set engagements and expectations for next year Address economic pressures that are top of mind Advise on tax planning topics As the year comes to a close, most accounting firms are guiding clients through the complexities of year-end tax planning. Tax Cuts and Jobs Act (TCJA).

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CTP

NOVEMBER 16, 2023

However, a major benefit of setting a business up as a partnership is the option to leverage special tax allocations. Below is a summary of key things to know about special allocations, so you can begin to educate your clients on the potential benefits. What does it look like to set up special tax allocations?

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CTP

SEPTEMBER 22, 2022

The contribution limits for these plans are higher than the types listed above, and contributions are deductible as an adjustment to income—thus reducing AGI. Educator Expenses. In 2022, the maximum deduction increases to $300 (or $600 for two married educators). To find a Certified Tax Planner near you, click here.

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CTP

AUGUST 11, 2022

Question : How much time should I devote to studying tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software. By Dominique Molina, CPA MST CTS.

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Anders CPA

NOVEMBER 21, 2023

When in doubt, consult with a trusted tax professional to determine whether certain deductible activities apply to your circumstances. While this guidance is geared towards individuals and families, check out our year-end tax planning tips for businesses.

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Anders CPA

DECEMBER 8, 2022

The end of the year is an opportunity to get your affairs in order for the year ahead, and when it comes to tax planning, the sooner you begin preparations the better. As 2023 approaches, there are actions that can be taken now to offset or minimize your tax burden. Maximize 529 Contributions. CONTACT ANDERS.

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Withum

NOVEMBER 17, 2022

a vacation, a short-term business relocation, educational leave). Failing to prepare for a tax examination at the outset of a move jeopardizes the ability to ultimately prevail at the audit. Failing to plan = planning to fail. 2022 Year-End Tax Planning Resources. Sales and Use Tax Planning Considerations.

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MyIRSRelief

MAY 1, 2024

Tax Planning and Strategy: A skilled tax professional is more than just a filing machine. They can help you develop tax-saving strategies tailored to your business structure (C corporation, S corporation, or partnership). An Enrolled Agent, specializing in representing taxpayers during audits, can be your rock.

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MyIRSRelief

OCTOBER 16, 2023

State and Local Tax (SALT) Deduction Understand the rules surrounding the deduction of state and local income and property taxes, which can vary depending on recent tax law changes. Educator Expenses Discover deductions available to teachers for out-of-pocket classroom expenses. Lesser-Known Tax Credits a.

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CTP

DECEMBER 21, 2021

If the recipient chooses to spend that money and not roll it over into their own retirement account, they will have to deal with the applicable income tax and withholding rules. Qualified higher education expenses are another great exception for students attending any accredited university, college, or vocational school.

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Going Concern

MAY 2, 2024

With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

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MyIRSRelief

JUNE 23, 2023

They utilize their expertise to prepare accurate and timely tax returns (1040, 1041, 1120, 1120S, 1065 and other tax returns), ensuring compliance while maximizing deductions and credits. b) Tax Planning: Enrolled Agents provide strategic tax planning advice to minimize tax liability and optimize financial outcomes.

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TaxConnex

FEBRUARY 27, 2024

For respondents, the staffing struggle also meant curtailing business growth (19.23%), more errors in sales tax calculation (17.58%), more frustration from existing staff (21.43%) and, perhaps scariest, a growing lack of confidence in being prepared for an audit (22.53%). There were about 1.65 million accountants and auditors in the U.S.

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Withum

NOVEMBER 16, 2023

Trevor’s work as a manager in the Valuation Services team at Withum, coupled with his education and other personal achievements, was honored by the AICPA at the Forensic and Valuation Services Conference held in Las Vegas this November.

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MyIRSRelief

NOVEMBER 3, 2023

They must pass a comprehensive three-part exam covering individual and business tax returns, adhere to ethical standards, and complete 72 hours of continuing education every three years. This rigorous training ensures that they are well-equipped to help taxpayers navigate complex tax issues.

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MyIRSRelief

OCTOBER 3, 2022

Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. They contribute to resources such as our government, educational systems, law enforcement, libraries, and others. However, individuals who fail to pay taxes can suffer penalties and potential criminal charges.

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Nancy McClelland, LLC

JANUARY 10, 2023

One of my favorite presenters — Tom Gorczynski — is giving a free webinar in conjunction with RCReports (one of my favorite apps), and CPA Academy (one of my favorite education platforms) this Thursday, January 12 (to repeat on Thursday, February 2), on Section 199A and how it interacts with Reasonable Compensation requirements.

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CPA Practice

OCTOBER 3, 2023

For example, you might find that most of your clients will benefit from tax planning services. Communication is Key: Educating Clients on New Offerings Communication is the foundation of trust. Communication is Key: Educating Clients on New Offerings Communication is the foundation of trust.

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CPA Practice

APRIL 22, 2024

Host Informative Workshops: Organize free, educational workshops on financial wellness, tax planning, or small business accounting. Educational Content Creation Creating informative content can position your firm as a thought leader in the accounting industry. Summer is a good time to focus on content development.

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CPA Practice

JULY 6, 2023

A Section 529 plan is a great way to save for a child’s higher education. You can put money in an account for your child and watch it grow without any current tax erosion until the child is ready to go to school. But Section 529 plans don’t have to be used only for your kids.

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Withum

AUGUST 5, 2022

The annual Top 200 list honors influential industry leaders in healthcare, government, real estate, finance, education, advisors and business. The local journal noted Steve’s extensive experience with tax planning, tax compliance, business consulting and management advisory services.

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CPA Practice

SEPTEMBER 18, 2023

Sidney Kess, a nationally renowned tax lawyer and accountant, author of hundreds of tax books on financial and estate planning, educator, and a friend to many in the profession, passed away on Sunday at the age of 97. His book on the 1969 Tax Reform Act sold 50,000 copies.

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ThomsonReuters

MAY 14, 2024

Traditionally, junior tax professionals have relied heavily on senior colleagues for guidance and mentoring, benefiting from the wisdom of their experience. And while learning from others will always remain a critical component of early career paths, now other equally powerful education and training methods are gaining traction.

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Withum

JANUARY 17, 2024

Alongside attending sporting events, Withum has hosted educational webinars on Esports Player Care, where they gained insights from senior Esports professionals from Full Sail University, the NECC and Guild Esports. Our goal is to educate and advise our clients on both their short-term and long-term career goals.

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Anders CPA

OCTOBER 25, 2023

Due to his level of knowledge on the topic, Jason frequently speaks on preventing cyber-attacks, educating companies and individuals on best practices for creating a secure network to avoid being victimized by cybercrime. Jason completed his B.S. in Computer Management and Information Systems from Southern Illinois University Edwardsville.

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MyIRSRelief

AUGUST 1, 2023

Seeking legal advice or consulting with tax professionals can help ensure accurate classification. These systems can automate tax calculations, withholding, and reporting, reducing the risk of errors and ensuring accurate payroll tax management. Staying up-to-date with changing tax laws is crucial to maintaining compliance.

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CPA Practice

JUNE 8, 2023

Throughout his career, he has specialized in tax compliance and planning, trust analysis, estate and gift tax planning, and investment partnerships. Sid Kess Award for Excellence in Continuing Education The Sid Kess Award for Excellence in Continuing Education was presented to Annette Nellen, CPA, CGMA, Esq.

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ThomsonReuters

APRIL 25, 2024

When you choose a tax research engine built specifically for tax and accounting professionals, you get only trusted, vetted, and reliable results from expert sources alongside news, insight, and expert commentary. So how do you educate your clients on the value of advisory services?

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MyIRSRelief

DECEMBER 15, 2022

Filing tax returns: Once the tax return has been prepared, the tax preparer will file it with the appropriate tax authorities, either electronically or by mail. Overall, tax preparation services can be a valuable resource for individuals and businesses who need assistance with their tax obligations.

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MyIRSRelief

APRIL 14, 2023

He has a track record of success in resolving complex tax disputes and has saved his clients millions of dollars in taxes, penalties, and interest charges. Mike Habib’s areas of expertise include tax audit representation, tax debt relief, tax planning, and tax preparation services.

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