Each year during tax time the “most overlooked” tax deductions get a lot of press. And every year the lists include the same deductions, such as state sales tax, student loan interest, job hunting costs, and moving expenses.
As the final weeks of summer tick away, back-to-school sales are ramping up and it's time to think about getting those kids back in the classroom. It's also a good time to think about a variety of tax breaks and deductions available for qualifying ...
With the 2016 “audit season” in full swing, there’s a strong likelihood that one or more of your clients has already received ─ or soon will receive ─ an audit, notice, or other type of tax-related correspondence. From information mismatch notices, to ...
Wouldn’t it be nice if our clients contacted us before making any type of financial transaction with a tax consequence? Unfortunately, many of us as tax advisors are out of sight, out of mind, and out of the loop most of the year, leaving our ...
It is important for us to keep in mind that tax responsibilities are not the first thing our busy clients are thinking about, and in many cases they are not on their radar at all.
As tax professionals, we all have stories to tell about the dubious items our clients want to “write off” on their tax returns ─ and after many years of hearing the same questions, many of our answers are quite well-rehearsed.
There is one tax saving approach we can always assist our clients with, and that is educating them about tax penalties. What follows is a list of the most punitive tax penalties along with simple tips on making sure your clients are never ...
With summer vacation over and school back in session, it’s time to help those extreme tax procrastinators get their returns filed. But what about the rest of your clients − the “good” ones whose taxes you completed way back in April?