Taxes September 2, 2026
Tax Court Penalizes ‘Pretty Sophisticated’ Taxpayer
Depending on the situation, the IRS may have discretion to hand out some of these penalties or to cut unknowing taxpayers some slack.
August 15, 2022
How to Build the Best Relationship with a Client
How can tax professionals build the same strong advisory relationship and take a more proactive approach to the services we offer?
August 15, 2022
Inflation Reduction Act May Increase and Broaden Energy Tax Incentives
Under the expansion of the 179D deductions, your clients may also benefit from deductions if they’re REITs, trial properties, and non-profits.
August 14, 2022
AICPA Addresses ‘Plummeting’ Level of Service with IRS Practitioner Priority Service Phone Line
Service levels for the practitioner priority service phone line have been in continuous decline for several years.
August 13, 2022
AICPA Submits Recommendations on Green Book Trust & Estate Tax Provisions
The AICPA expressed several concerns with proposals that could be included in future tax legislation. Comments submitted address the following proposals:
Taxes August 8, 2022
Here’s What Rich Americans Could Face From a Beefed-Up IRS
Wealthy Americans should be prepared for audit levels they haven’t seen in decades, if the Democrats’ tax and climate bill passes the House.
Taxes August 8, 2022
Carried Interest Rules Live to See Another Day
This tax break has been in the crosshairs of Congress for years but was removed from Senate Democrats’ Inflation Reduction Act.
August 8, 2022
This Retirement Plan Is Just for Self-Employeds
You can adopt either a defined contribution Keogh plan or a defined benefit Keogh plan. As you might expect, the rules for these variations generally
August 2, 2022
The Independent Contractor Dilemma
Gig economy companies classifying their workers as independent contractors continue to face lawsuits, state action, and federal agency enforcement
August 2, 2022
Accounting Firm Saved Clients More Than $1 Million in Taxes from 2019-2021
According to SideHustle.com, 45% of Americans (70 million people) report having a side hustle. Among millennials, that number rises to 50%, while 70% of Gen Zs reported looking for a side hustle.
August 2, 2022
Georgia Says Embryos are Dependents for Tax Purposes
The state of Georgia's taxation department has announced that taxpayers can claim fertilized embryos as dependents for tax purposes.
Taxes June 30, 2022
The Evolution of Nexus and its Implication for Income Tax
Although Wayfair was strictly a sales tax case, states have also begun to assert economic nexus for income tax purposes. Unlike sales tax, currently only a handful of states...
Accounting June 27, 2022
FASB to Review Accounting For Environmental Credit Programs
The Financial Accounting Standards Board (FASB) recently decided to tackle a project that could result in new rules being created on how companies should account for environmental credits, such as renewable energy credits and carbon offset credits.