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Navigating Tax Reform: The Three Statements that Will Help You Sell Tax Plans This Year

CTP

Amid all the uncertainty, our job as tax planners is to focus on what we know here and now and to build flexibility into our tax plans so that we can pivot as new legislation is approved. In our previous blog , we covered key tax laws that may shift in 2025. How might we lower their tax bill?

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Tax Planning for Student Athletes: Working with NIL Collectives

CTP

Where does the tax planning opportunity come in? The legal requirements for each are very different, as are their tax planning needs. Unfortunately, one of the reasons a nonprofit NIL collective may contact a tax planner is if their tax-exempt status is rescinded or denied.

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Optimizing Law Firm Entity Structures: A Guide for Law Firm Leadership

Withum

Pros: Simplicity: Easy to establish with minimal legal formalities. Tax Benefits: Income is taxed once at the individual level. You should also regularly review compliance to avoid legal issues. Consult with Professionals Work with legal and financial advisors to choose the best structure for your firm.

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Should Tax Planners Work with Family Offices? How Family Offices Work

CTP

Administrative & Financial Support Moving into the realm of finances, a family office may handle bookkeeping, legal and estate planning oversight, cash flow management, financial advice, insurance management, accounting and tax filing oversight, and charitable giving management.

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Inside GASB's far-reaching agenda

Accounting Today

It mirrors a lot of what the FASBs going concern literature says, which is, are you going to continue to exist as the same legal entity, or are you maybe not, as a result of financial stress? In the government environment, that doesnt always make sense, because governments often legally cant go out of business. All rights reserved.

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Tax Firms Without AI Strategies Will Fall Behind (and Fast), New Study Warns​

CPA Practice

This efficiency gain represents an average annual value of $19,000 per professional and contributes to a combined $32 billion annual impact across the legal and tax accounting sectors in the United States alone.​

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Optimizing Tax Strategies for Law Firm Partners

Withum

As a law firm partner, effective tax planning is crucial to maximizing your financial efficiency and ensuring compliance with ever-evolving tax laws. Here are some key strategies, common pitfalls, and tips for optimizing income timing to help you navigate your tax obligations successfully.

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