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Larry Kessler: It’s Not What You Make, It’s What You Keep

Larry Kessler: It’s Not What You Make, It’s What You Keep


Larry Kessler Financial Services is an example of how to create an accounting firm built on friendships, trust, and fair dealings. 

“I don’t advertise,” he says. “I focus on giving each client a better job than they have ever seen, combined with the best service I can give.  I now handle second and third-generation clients, the children and grandchildren of clients I have had from my early days.” 

His tax partner of choice is Drake Software. 
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Securing your Client Data

Securing your Client Data 

Of all of the subjects that got the attention of the industry – the Affordable Care Act, identity theft, and licensing of tax preparers among them – one did not get much attention, but should have. 

It’s the requirement to properly secure all of the communications between you and the client. 
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Tax Year 2013 Desk Reference Guide

How you prepare can have a lot to do with how smoothly your season goes.

A well-organized office that has prepared for the upcoming months can make the sailing much smoother during a fast-paced time. Here are some other important steps you can take to ensure your office is prepared.

Download the most recent Desk Reference Guide Now.

Simply fill out the form below making sure your email address is correct.
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Long Odds

The Long Odds on Tax Reform

Tax Reform is once more on the agenda for Congress.  But Robert Samuelson, columnist for the Washington Post, says that any real reform is unlikely:

“In 2010, calculating their taxes cost Americans $168 billion, estimates the Taxpayer Advocate Service of the Internal Revenue Service. That’s about 15 percent of taxes collected — a heavy overhead. Almost 60 percent of taxpayers pay accountants or other tax preparers. Public esteem for the tax system is low; in a 2011 Pew poll, 55 percent judged it unfair. Disaffection was fairly even politically: 47 percent among Republicans, 58 percent among Democrats and 56 percent among independents. [Read more...]

SecureFilePro: Send and Receive Documents Anytime, Anywhere


Drake Software

In a world gone mobile, tax and accounting professionals need more than just a means of communicating with clients. They need a secure communications solution so that critical client data is protected. They need a branded solution that will help build recognition for their firm. They need a solution that is accessible at all hours of the day from anywhere in the world.
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$2 Trillion Underground Economy

$2 Trillion Underground Economy Helps and Hurts the Recovery

The growing underground economy may be helping to prevent the real economy from sinking further in debt, according to analysts.  The shadow economy composed of those who can’t find a full-time or regular job and turn to work that pays them under the table, reports no income and pays no taxes. [Read more...]


Tax Law Follies

Now that it is all over but the paying and the weeping, it may be appropriate to consider how truly absurd the tax laws in the United States have become.

The US Tax Code is so tangled and twisted that University of Florida law professor Steven J. Willis speaks amusingly about “tax humor.” While not exactly the stuff of stand-up routines, America’s surreal Tax Code is a masterpiece of dark comedy. [Read more...]

Audit Risk

Audit Risk May Depend On Where You Live

Taxpayers and preparers, worried that their returns may trigger an audit, should take special care if the return is for a small business owner in one of the wealthier suburbs of Los Angeles.  Or, for that matter, one who lives in San Francisco, Houston, Atlanta, or the District of Columbia.

A new study by the National Taxpayer Advocate used confidential IRS data to show large clusters of potential tax cheats in these five metropolitan areas. The IRS uses the information to target taxpayers for audits.  The taxpayer advocate, Nina Olsen, runs an independent office within the IRS. She got access to the data as part of an effort to learn more about why some taxpayers are more likely to cheat than others. [Read more...]

Tax-Exempt Organizations Must File By May 15

Tax-Exempt Organizations Must File with IRS By May 15

A key deadline of May 15 is facing many tax-exempt organizations that are required by law to file annual reports with the Internal Revenue Service. Organizations will see their federal tax exemptions automatically revoked if they have not filed reports for three consecutive years.

The Pension Protection Act of 2006 mandates that most tax-exempt organizations file annual Form 990-series informational returns or notices with the IRS. Under this law, organizations that fail to file reports for three consecutive years automatically lose their federal tax-exempt status. The law, which went into effect at the beginning of 2007, also imposed a new annual filing requirement on small organizations. [Read more...]

Injunction May Close Chain Mo’ Money Taxes

Injunction May Close National Tax

Preparation Chain Mo’ Money Taxes

The US Department of Justice has gained an injunction to shut down Memphis, TN-based Mo’ Money Taxes for fraud.  The government contends tax losses from fraudulent tax returns prepared by the firm in 2011 cost the IRS more than $9 million.

Last year, hundreds of Mo’ Money clients in several states alleged bounced checks, excessive fees and the failure of the business to pass along IRS refunds. [Read more...]