Part 3: Tax Planning for Real Estate Investors: Understanding Depreciation and Recapture
When working with clients on real estate investments, you will need to prepare them for a higher level of tax complexity. This might mean encouraging
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Practitioners Cheer IRS Guidance on Minimum Distribution Waiver
The IRS served up a list of answers — and some perks — for taxpayers in its latest guidance on the coronavirus relief package provision
4 Ways to Reduce Taxes on Foreign Earned Income
If you have a client who is an expat working in a foreign country, or if your client is a foreign national living in the
The Pass-Through Entity Workaround to Beat the SALT Limitation
In the past year, several states have created a pass-through entity tax (PET) to circumvent the $10,000 cap for the state and local tax (SALT)
Tax Advantages of IRS Form 3115 – Request to Change…
What is Form 3115? According to the IRS, the form is filed “to request a change in either an overall method of accounting or the
Commonly Asked Section 139 Plan Questions
Is there a cap on how much an employer can provide to an employee as a qualified disaster payment? No, the statute states that as
Qualified Disaster Payments and Code Section 139
What is a Qualified Disaster Payment? During these challenging times, laws have been passed to create relief for businesses and their employees. For example, under
Three Reasons Why Your Tax Plans Aren’t Selling (& What to Do!)
Here are three common problems and their solutions to help you develop a successful and strategic tax planning sales pitch. Reason #1: “I have trouble
TCJA’s Change in Definition of Small Business & What it Means for Clients
Did you know? The Tax Cuts and Jobs Act has amended the definition of a small business (Code Section 448). The TCJA allows small businesses,
Help Your Small Business Clients Avoid an IRS Audit
As a tax professional, you are well aware that every one of your business clients has two main goals at tax time: Calculate as many
Pro’s and Con’s of Starting and Growing an Accounting and Tax Business
Whether you’re just entering your accounting career or reinventing a tired business, the road ahead can seem quite long. Starting and growing an accounting and