Measure Your Own Tax Advice Against These Tips | AccountingWEB

Measure Your Own Tax Advice Against These Tips

At this time of year, the Internet, newspapers and magazines are filled with sage advice on how to help reduce a tax liability.

As a tax practitioner or accountant, see if you agree or disagree with the following recommendations provide by H&R Block:

  • minimize personal income by converting income into non-taxable income, such as investing in tax-free instead of taxed investments;
  • convert personal spending to qualified deductions, like the new home office rules that affect working at home on a part-time basis;
  • take advantage of the various tax credits, including the child-care, elderly and Social Security withholding credit;
  • apply lower marginal rates by dispersing income to dependents, for example; and
  • make the most of deductions, honestly and efficiently.
  • Wait, there's more!
    There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
    Premium content is currently locked

    Editor's Choice

    WHAT KIND OF FIRM ARE YOU?
    As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
    This is strictly for internal use and data will not be sold
    or shared with any third parties.