Sidney Kess, CPA, J.D., LL.M.
Many of the tax rules for individual taxpayers depend on age. Attaining a birthday may entitle an individual to a special tax break or end entitlement to another. Here is...
MOREThat does it take for a small firm to be on the path to growth? It takes vision and the willingness to do things differently. If you want different results…
The IRS is now utilizing two menacing collection alternatives. First, the IRS is now assigning collection duties to private collection agencies which are compensated on a contingent fee basis. Second…
Estate planning is a vital service for clients. While historically estate planning may have focused on estate tax minimization planning, for most clients estate taxes are much less of a…
There have been many changes to 1040 tax software over the last year. In preparation for the 2018 tax season, are the latest developments. Drake Software Offers Optional Hardware to Serve…
CPAs serving small businesses have many demands for their accounting software. Recent updates attempt to meet those demands from the top vendors who all offer phone support. AccountantsWorld Accounting Power Provides…
Annette Nellen, Chair, AICPA Tax Executive Committee presented and provided a written statement to the U.S. Senate Committee on Small Business & Entrepreneurship on June 14, 2017. The hearing was…
A properly designed and implemented Construction Tax Planning analysis will proactively identify additional tax savings related to new and / or planned construction projects. It should be duly noted that…
If a taxpayer borrows money to purchase investments, such as mutual funds, bonds or stock, the interest paid on the loan can usually be deducted. There are two limitations, however…
Funding Irrevocable Trust with Family or Closely Held LLC Interests LLCs are the default entity for most family or closely held business and real estate ventures. Practitioners are therefore commonly involved…
CPA Magazine
Undefeated boxer Floyd Mayweather may be more famous for defeating MMA fighter Conor McGregor but he is so busy endorsing initial coin offerings, or ICOs, on his Instagram and Twitter...
MOREDid you know you can get up to $7,500 in…
A rental income tax break known as the “Masters exemption,”…
This week the IRS issued tips to prevent ransomware attacks…
A properly designed and implemented Construction Tax Planning analysis will…
Motion Picture and Television Production Tax Incentives (MPIs) are tax incentives…
Annette Nellen, Chair, AICPA Tax Executive Committee presented and provided…
The IRS is now utilizing two menacing collection alternatives. First…
That does it take for a small firm to be…
Crowdfunding comes in three flavors. It’s important to know the…
Sidney Kess, CPA, J.D., LL.M.
Many of the tax rules for individual taxpayers depend on age. Attaining a birthday may entitle an individual to a special tax break or end entitlement to another. Here is...
MOREWith summertime approaching, many children will be getting jobs during…
Long-term care is different from medical treatment designed to cure…
In its annual release in 2016, the Federal Trade Commission…
The flooding in parts of Louisiana on August 11, 2016…
Individuals may have financial windfalls because of a variety of…
Retirement is life changing in so many ways, and it…
The end of the year is the deadline for most…
The Protecting Americans from Tax Hikes (PATH) Act (P.L. 114-113)…
Just before the U.S. Supreme Court closed its 2014 term…
Julie Welch, CPA, CFP
If a taxpayer borrows money to purchase investments, such as mutual funds, bonds or stock, the interest paid on the loan can usually be deducted. There are two limitations, however...
MORE"How long should my client keep his/her tax returns and…
Be Alert for Digital Documentation Now that companies are going digital…
If your client is married and either that person or…
If your client is age 50 or older, he or…
Roth IRAs are similar to traditional IRAs in that the…
You can offset the costs of higher education with two…
Generally dividends you receive on stock you own are taxable…
“How long should my client keep his/her tax returns and…
Health Savings Accounts (HSAs) are similar to individual retirement accounts…
Jerry Love, CPA/PFS, CFP, CVA, ABV, CITP, CFF, CFFA
This article is a follow up to the prior article which highlights the new regulations for the Fair Labor Standards Act (FLSA) from the Department of Labor (DOL) raising the...
MOREThis is a question on many people’s minds. A few…
It has taken the Department of Labor (DOL) almost two…
Most people do not know they can incur penalties by…
By now every employer and CPA assisting employers is well…
I am going to give you the highlights of four…
Failure to read this article and understand it could cost…
The question of when a person can be paid and…
I am frequently asked by clients to help them develop…
When Congress passed the Affordable Care Act (ACA) in 2010…
Joshua Fluegel
In its ongoing effort to stay on the forefront of developments in tax profession technology, CPA Magazine talks to Mark Strassman, president of Make My Day CPA. Strassman discusses CPAs’...
MORECPAs serving small businesses have many demands for their accounting…
There have been many changes to 1040 tax software over…
On October 3, 2016, the IRS issued Final Treasury Regulations…
In this information age, identity theft is no longer something…
Tax Resolution is a fascinating way to expand your firm…
Chairman of the AICPA Tax Section’s Tax Executive Committee, Troy…
The need for CPA reviews may explode when Jumpstart Our…
The dawn of a new year brings a fresh opportunity…
Here are three quick tips and tricks to help tax…
Martin M. Shenkman, CPA, MBA, PFS, AEP, JD
Estate planning is a vital service for clients. While historically estate planning may have focused on estate tax minimization planning, for most clients estate taxes are much less of a...
MOREAging clients are growing in number and practitioners should address…
An individual income tax return can be a treasure trove…
Donald Trump won the Presidency and the Republicans control both…
Funding Irrevocable Trust with Family or Closely Held LLC Interests LLCs…
√ MULTI-GENERATION CRT Blended families are common, perhaps the norm (only…
CPA practices, large and small, should retool to capitalize on…
Limited liability companies (LLCs) are ubiquitous in client planning. The…
As the presidential election is less than six months away…
The income tax is the new estate tax. With a…