Part 1: Tax Planning for the OBBB: How the New Tax Act Can Benefit Business Owners
After months of waiting, clarity is finally coming. The tax and spending package unofficially known as the “One Big Beautiful Bill” Act (OBBB) has been
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Ethical Concerns in Using Tax Planning Software
What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that
IRS Turning Up the Heat on Reasonable Compensation Compliance
By Paul S. Hamann & Jack Salewski, CPA, CGMA Having a Reasonable Compensation figure that is “reasonable” isn’t enough anymore. With the IRS turning up
Personal Goodwill as a Tax Strategy: 3 Requirements for Using Personal Goodwill to Reduce Taxation
Tax planners can provide tremendous value in the sale of a business. Business owners and shareholders may not be aware of the tax consequences that
Personal Goodwill as a Tax Strategy: 8 Scenarios Where Personal Goodwill can Reduce Taxation
When your client informs you that they intend to sell their business, they may be expecting to simply collect the profits and celebrate. The unfortunate
How to Increase Efficiency in Your Tax Planning Business
A key to business growth is finding ways to get more done with less effort. Small business owners are often juggling so many tasks that
Creating the VIP Client Experience Through Automated Services
When it comes to creating a peaceful and profitable tax practice, there is ONE recipe for success that you can ALWAYS count on: automation! Here’s
Why Tax Planners Need a Written Tax Plan
What if there was a straightforward way to improve profitability and reduce liability for your tax practice? Creating a written tax plan can separate the
TAX PLANNING 101: Busting the Myth that Tax Planning is Only for the Rich! Part 1
By now, everyone has figured out that America’s wealthy and elite are not always avoiding taxes through illegal means. There are thousands of court-tested, law-abiding
TAX PLANNING 101: Ideas for Reducing Taxable Income and Maximizing Tax Credits Part 2
We are continuing to bust the myth that significant tax savings are only applicable to the rich and wealthy. Countless moderate-income earners are utilizing the
Business debt restructuring: How to do it with money saved on taxes
It’s common practice for businesses to take on debt, but unforeseen occurrences like a recession or a pandemic might make it more challenging to make