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

CTP

Do you feel that you pay too much in tax? 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. Why do so many pay more than they have to? Not all tax planning is the same!

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Changes in Tax Law: The End of the Road for Conservation Easements

CTP

Navigating the Tax Code can be like trying to follow a map where the lines are constantly shifting. Every month, it seems like new guidance is released, new legislation is passed, or new cases are tried by tax courts, and suddenly, applying tax law has become a completely different game.

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HOW JOINT VENTURES CAN DRAMATICALLY GROW YOUR TAX PLANNING BUSINESS

CTP

For tax professionals in particular, one pro tip has the potential to alleviate stress and accelerate your business growth: that is to start a joint venture. A joint venture allows you as a tax planner to focus on your strengths by coming together with a business partner who is strong in areas where you may be weaker.

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Tax Deductions for Business Vehicles: Using Standard Mileage vs Actual Expenses

CTP

This is where you as a tax planner can relieve some of the uncertainty and provide guidance on how to set oneself up for success. This falls short of the standard mileage rate by a decent amount and begs the question why so many people default to that rate. Standard Mileage : The standard mileage rate is currently at 62.5

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Tax Strategies for Landowners: What’s the Deal with Conservation Easements? 

CTP

The world of tax law has a reputation for being complicated. This is certainly true, not only because the Tax Code can be difficult to interpret and confidently apply to real-life situations, but also because the rules are constantly changing. So why would a landowner opt into a conservation easement?

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Tax Planning Versus Preparation – What is the Difference? – Part 1

CTP

Visit social media or google these days and you’ll most likely see advertisements for Tax Planning. But many taxpayers (and even tax pros) are confused about the differences between tax planning and tax preparation. Why is it impossible to do tax planning at the same time as you prepare a tax return?

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Guide to accountant responsibilities

ThomsonReuters

Accountant vs. CPA vs. tax preparer: What are the differences? Preparing tax returns. According to Pilar Garcia, CPA , Tax and Accounting Executive Editor for Thomson Reuters, “AI, especially generative AI, can propel the accounting profession forward like no other technological advancement since Excel.

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