Business Strategy

Crossing the Digital Divide with Your Tax Practice

Crossing the Digital Divide with Your Tax Practice

For years, industry experts have been calling for tax professionals to use various hardware and software technologies – CRM tools, document management systems, workflow and productivity software, and paperless technologies – to stay competitive and profitable.
Sharing Economy Tips

Part of the Sharing Economy? The IRS Has Tax Tips for You

Last month, we looked at the legal dustup between ride-sharing company Uber and its contracted drivers and speculated on ways sharing economy businesses might affect tax preparation. One EA we interviewed suggested that taxpayers...
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Summer Wedding? Time for a Tax Tune-up

If you’ve got clients who are getting married this summer, they may not have taxes on their pre-nuptial checklist. But once the rice is all swept away and the thank-you notes are written it...
Hobby or Taxable Income?

Business or Pleasure: Determining if Your Hobby is Considered a Trade

What is a Trade or Business? Simply put, a trade or business must satisfy the need to make a profit.  If you don’t plan to make a profit, then this is not a business, it...
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2016 Foreign Tax Issues – Part II

The following is the second installment in a two-part series by regular Taxing Subjects contributor Ben Tallman. While Part I looked at  Foreign Bank Account Reporting (FBAR) and FATCA in detail, Part II examines the foreign earned...
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2016 Foreign Tax Issues – Part I

The following is a two-part series by regular Taxing Subjects contributor Ben Tallman, who provides insight into foreign tax issues. Part I describes Foreign Bank Account Reporting (FBAR) and FATCA in detail, while Part...
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Military Tax Strategies

As we watch the evening news, we see our fighting men and women of the Armed Forces in combat areas far from home.  The reports can fill us with a myriad of emotions, like...
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Reduce Stress During Tax Season

Stress can worsen or increase the risk of conditions like obesity, heart disease, premature aging, Alzheimer's disease, diabetes, headaches, depression, gastrointestinal problems, and asthma. For tax and accounting professionals, the effects of this stress...
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Turning Customers into Clients

For most tax preparation firms, success means attracting more business from taxpayers, expanding the number of services offered, and converting customers into clients. Though we tend to use the terms interchangeably, customers and clients...
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Things Your Tax Practice Doesn't Need

The quest for success in all businesses is a complex mixture of greater efficiency, greater creativity, better marketing and better management. The role of technology in this mixture has generally been positive, though not...

Trending

PTIN Renewal Underway Once Again

PTIN Renewal Underway Once Again
A recent federal court ruling that struck down the Internal Revenue Service’s user fee for issuing or renewing Preparer Tax Identification Numbers (PTINs) took away the fee, but left the PTIN itself in service. The renewal of PTINs – without charge – is now...

New Scam Targets Tax Professionals

Security Summit Warns of New Email Scam
The Internal Revenue Service today announced a new email scam from cybercriminals that targets tax professionals. Using a two-stage process, this latest phishing scheme attempts to collect private data from tax preparers.

IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder

IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder
Tax professionals across the country are gearing up for tax season, which the Internal Revenue Service today announced will officially begin on January 23, 2017. The press release included yet another reminder about PATH Act-delayed refunds: taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will not have their refund issued until February 15, 2017.
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