Tax Tips for New Business Owners
Owning your own business can be a very rewarding experience. The process of starting a business, however, can seem overwhelming to the uninitiated.…
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.…
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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…
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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 may be…
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 is a hobby. The reason for…
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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…
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…
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 patriotism, compassion,…
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…
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…
