Clearing the Decks

As you prepare to set your minds and offices in 'busy' mode, we've collected a group of articles that will [hopefully] set you on a clear path to an efficient and successful tax season, along with a smattering of "to-dos" and "not to-dos" for the benefit of you and your clients.

Feb 7th 2018
Yes, I know how busy your practice can get during these months, especially if you’ve been out of it for a few years. I know the natural...
form w4 guidance
Feb 5th 2018
With the busy season in full swing, the IRS has issued a new advisory on tax withholdings for 2018, with some changes taking place starting...
able accounts
Feb 1st 2018
In light of passage of the Tax Cuts and Jobs Act into law late December, let’s take a look at ABLE Accounts, which are accounts created in...
Spreadsheets and graphs on a desk
Jan 30th 2018
Most of the provisions in the Tax Cuts and Jobs Act completely change the tax landscape for the 2018 tax year, while some changes...
theft losses
Jan 30th 2018
I’ve previously written columns about deductions for theft losses. Taxpayers whose deductions are disallowed often ask for hearings before...
phishing scams
Jan 26th 2018
Beware of resurgence in this type of phishing scam. Last year’s Form W-2 sham that victimized hundreds of organizations and thousands of...
contract work
Jan 23rd 2018
Here’s a nice little brain-teaser for tax preparers: How much can you help clients who are taxpayers save on taxes by converting them from...
method of accounting
Jan 22nd 2018
First of all, the truth about professional tax software is that it automatically selects the cash method of accounting for all business...
irs fraud warning
Jan 19th 2018
Like a rite of spring, fraudsters have ramped up their efforts to steal taxpayer and tax preparer information during the tax busy season...
withholding notice
Jan 17th 2018
The IRS has released Notice 1036 , Early Release Copies of the 2018 Percentage Method Tables for Income Tax Withholding, that indicates...
form 1023ez
Jan 16th 2018
If you have clients with tax-exempt status and you want a simpler way to file their returns, the IRS has found a way. The agency recently...
Jan 15th 2018
Every first week of January, I go through the office singing, set to the Christmas song, It’s the Most Wonderful Time of the Year. The...
Jan 12th 2018
Tax season can be the best time of year in your firm or the worst and how you prepare can mean whether your business, profits, and...
Feb 5th 2018
The beginning of tax season is always a hectic time for most accounting professionals, but keeping on top of your business during this time...
being paid
Jan 11th 2018
I am quasi-famous in this industry, due to all of the writing, and speaking engagements that I do, and as a consequence, I get a ton of...