CTP

AUGUST 11, 2022

Have you asked yourself, do I really have to study tax planning? Can’t I just select a software providing Artificial Intelligence to inform me what to do? 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.

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MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable.

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CTP

NOVEMBER 16, 2023

The American Institute of Certified Tax Planners (AICTP) offers a full-service solution to developing CAS in your firm focusing on the specialization of tax planning. AICTP provides a true roadmap for shifting your business model to support advisory centered client relationships through tax planning and value pricing.

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Withum

APRIL 12, 2022

The tax due date for most individual tax returns this year is April 18. If you are unable to complete your return to file by April 18, you can file for an extension to submit your return by October 17. However, the extension does not cover the payment of the tax due.

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MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

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MyIRSRelief

NOVEMBER 17, 2023

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements.

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MyIRSRelief

FEBRUARY 8, 2023

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations.

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ThomsonReuters

NOVEMBER 9, 2023

There is no doubt that tax professionals are hard to find, let alone replace. In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Tax software powered by AI can automate manual activities, save time, and improve accuracy.

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CTP

JANUARY 22, 2024

What does it look like to operate ethically in the world of tax planning? Circular 230 regulations are intended for those who “practice” before the IRS, but the ethical standards of conduct can apply to any tax professional. Say the company itself wants to hire you to do its yearly tax plan.

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MyIRSRelief

OCTOBER 30, 2023

Income Tax Return for Estates and Trusts, is a complex tax form that is used to report the income and expenses of estates and trusts. Trust tax preparation can be a challenging task, even for experienced tax preparers. Third, a tax preparer can help you to avoid costly tax penalties and errors.

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Cherry Bekaert

NOVEMBER 28, 2023

There are several key tax considerations and tactical approaches for businesses to address while closing out 2023 and moving into 2024. From leveraging tax incentives to optimizing deductions, this guide offers insights into tax planning to help businesses make informed decisions and set a solid foundation for the upcoming year.

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MyIRSRelief

DECEMBER 15, 2022

For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. Create a plan: Develop a plan for organizing and cleaning up your books. This will help you to get a sense of the scope of the project and to identify any missing records.

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

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MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. We assist in business tax compliance, preparation, planning and representation.

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MyIRSRelief

JUNE 23, 2023

Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Contact us for professional tax help today!

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CTP

MARCH 9, 2022

Tax planning is making shifts in a taxpayer’s financial and business situation, to minimize their tax burden both in the short term and over time. We’ll discuss five of the main strategies for legally lowering your clients’ tax burden. Retirement plan contributions for example, are a way of income shifting.

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CPA Practice

MAY 3, 2024

Wolters Kluwer Tax & Accounting (TAA), a global leader in professional information, software solutions, and services, today announced plans to deliver new AI-enabled capabilities to tax and accounting professionals, as part of its innovation strategy centered on firm intelligence.

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CTP

AUGUST 11, 2022

Question : How much time should I devote to studying tax planning? Can’t I just select a software providing artificial intelligence to inform me what to do? 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.

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CPA Practice

DECEMBER 12, 2023

However, when they combine QuickBooks with Intuit ProConnect Tax , they’ll get a more powerful way to manage their clients’ information. Known as “Books to Tax,” QuickBooks flows directly into ProConnect Tax to auto-populate a client’s tax return, streamlining the process and avoiding manual data entry.

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ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

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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. Create consumable content on-demand.

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MyIRSRelief

OCTOBER 16, 2023

When it comes to navigating the complex world of taxes, understanding deductions and credits is like having a secret treasure map to unlock potential savings. Tax deductions and credits are powerful tools that can help individuals and businesses reduce their tax liabilities, putting more money back in their pockets.

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Nancy McClelland, LLC

APRIL 11, 2023

It’s that time again… Tax Day is upon us and millions of taxpayers will need to have their returns extended for various reasons. The AICPA has released a “Tax Extension FAQ” for CPA members to share with their clients. This extends the due date for submitting your individual return to October 15. • What does this mean?

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

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ThomsonReuters

NOVEMBER 15, 2023

Jump to: Which donations are tax deductible? Charitable contributions from IRAs How much of a donation is tax deductible? In addition to helping our communities, these donations can also lead to significant tax benefits. Which donations are tax deductible? Stock or securities donations.

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ThomsonReuters

JANUARY 21, 2022

It’s a new year and that means new tax laws and other tax changes. Below are changes that take effect this year, along with other tax planning information. First off, the deadline to file individual tax returns is April 18. April 18, 2022 : 1st quarter 2022 estimated tax payment due.

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Withum

NOVEMBER 17, 2022

In recent years there have been significant changes to the State and Local Tax Nexus rules. The Wayfair case validated economic nexus for sales tax purposes and amplified economic nexus for income tax purposes, signaling to all states that economic nexus is sound law. State and Local Tax Workarounds.

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LyfeAccounting

JUNE 2, 2021

Want to Know How to File an Amended Tax Return? As an accounting firm, we’ve filed our fair share of amended tax returns. In today’s post, we’ll be going over when to amend your taxes and the 5 steps to actually amend your taxes. When to Amend Your Taxes? Let’s dive right in!

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CPA Practice

APRIL 17, 2023

As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes. But with the increasing complexity of modern business and regulations, and a worsening shortage of CPAs, the truth is that small business accountants rarely help clients optimize their tax strategies.

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MyIRSRelief

MARCH 15, 2023

As a trucker, filing taxes can be a daunting task. The paperwork, deadlines, and complex tax laws can leave you feeling overwhelmed and uncertain about your tax obligations. However, failing to file your taxes can have severe consequences, including back taxes, penalties, and even legal action.

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CTP

APRIL 15, 2022

Every tax professional needs to be conscious of how to manage their practice ethically. One of the benefits of focusing on proactive tax planning (rather than reactive work) is that tax planners can charge a value-based fee instead of an hourly rate. A key topic for ethical consideration is fee development.

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Withum

MARCH 21, 2024

Did you know that ERP systems can be a game-changer for your tax teams, making tax-related activities a breeze and boosting overall efficiency? The tax applications within an ERP system can speed up tax-related activities, including tax calculation, reporting, compliance and optimization.

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Cherry Bekaert

JULY 14, 2023

Many of these startups are set up as pass-through entities (PTEs), which provide an easy conduit for one layer of flow-through taxation and often retain favorable exit opportunities from a tax perspective. As these startups grow and take on investors, it’s important that financial managers understand the state tax ramifications of growth.

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Withum

JANUARY 2, 2024

Pennsylvania Senate Bill 815, signed into law on December 14, 2023, amended the Pennsylvania tax code to recognize irrevocable grantor trusts for tax years beginning after January 1, 2025. A common planning technique used with grantor trusts is sales and exchanges between the grantor and the grantor trust.

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ThomsonReuters

MAY 14, 2024

Expectations of tax professionals today are higher than ever. For junior tax professionals entering this complex and demanding world, the challenge can be exciting – but the learning curve can be steep. Importantly, those answers can be provided in context.

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Withum

MARCH 22, 2024

Most people are aware that we are in tax filing season with individual returns due April 15th (or April 17th for those living in Maine and Massachusetts). CPAs, EAs, and professional tax preparers see many clients this time of year and they are obviously busy with this work. And do not forget to file your return on time.

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