Advisory April 17, 2026
Building a Tax Practice Clients Rely on All Year
With the digital transformation bringing automation into the tax process, now is the perfect time to transform your tax practice with client advisory services.
March 29, 2021
Another Look at the Tax Effects of the American Rescue Plan of 2021
The good news is the first $10,200 that most taxpayers received in unemployment benefits of up to $10,200 are not taxable for 2020. If you have already filed your tax return for 2020 the IRS is asking you to not file an amendment, as they will take ...
March 5, 2021
AICPA Comments on Proposed Regs to Establish User Fee for Requesting IRS Tax Closing Document
The closing letter is issued to an executor of a decedent’s estate for which a Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return, or Form 706-NA, United States Estate (and Generation-Skipping Transfer) Tax Return ...
March 2, 2021
2021 Financial Planning? Three Unexpected Tax Saving Actions to Take
The pandemic has impacted many influential tax rules. At the same time, the new presidential administration has implemented additional changes, making tax planning even more challenging.
September 1, 2020
Election 2020: Comparing the Biden and Trump Tax Plans
Now that the conventions of both major parties have wrapped up, we’re heading into the home stretch of the presidential election race. Naturally, taxes will be a major point of contention.
January 9, 2018
Estate Planning and the New 2018 Tax Law
The estate tax exemption and the gift tax work together in a sense that you have a unified lifetime credit for gifts, which match the estate tax exemption. The unified credit increases each year, along with the estate tax exemption. Each year there is ...
December 24, 2017
Tax Planning Tips for Cutting 2017 Income Taxes – Tax Reform Edition
There’s still time left for you or your clients to cut their 2017 tax bills. The conventional tax wisdom at the end of the year is to pull in deductions to offset current tax liability and push off income to postpone tax payment. This takes on added ...
August 30, 2017
Estate Planning Part III – Bypass Trusts
In the final part of my estate planning series, I would like to tackle more complicated themes that build on the first two parts. The first thing that I would like to discuss in this article is a trust that was once used frequently before portability.
August 30, 2017
Estate Planning Part II – When You’re Not Subject to Estate Tax
Just because you don’t have a taxable estate doesn’t mean that you shouldn’t do estate planning. If you die without an estate plan, then you die testate, meaning your assets will be divided up according to state law. Everyone needs some sort of an ...
August 30, 2017
Estate Planning Part I – Passing Along Your Business to Your Children
Most business owners want the same thing; they want to pass on their business to their kids. Others may want to sell the business, and some just want to give it away. However, all these options have unique tax concerns that must be considered.
January 12, 2017
Report Analyzes Estate Planning Tax Strategies for Sales to an Irrevocable Trust
Thomson Reuters has released a special report, Sales to Intentionally Defective Irrevocable Trusts, which discusses the sale to an intentionally defective irrevocable trust (IDIT) in exchange for its promissory note. The report establishes that the ...
September 15, 2016
2016 Review of Income Tax Planning Systems
If taxes remained the same from year to year, there would be no need for tax planning. But as a professional, you know how valuable tax planning is; for your clients and for your bottom line. For your clients, effective tax management can often ...
September 14, 2016
2016 Review of Intuit Lacerte Tax Planner
Ideal for small to mid-sized firms, Lacerte Tax Planner, from Intuit, offers an easy to use tax planning product that is well suited for those looking for a stand-alone product, as well as those wishing to integrate with other Intuit financial products.