tax return prep: commodity or professional service?
think of where your value is added.
by ed mendlowitz
how to review tax returns: the field-tested update
tax practice
survey: tax software favorite keeps crown
firm size may matter.
the accounting firm operations and technology survey
captive insurance: a game changer for business clients
there are eight key advantages to captive insurance. just don’t get fooled by the hype.
by ken huffman, cpa
president, captive nation in fort worth, texas.
while there are several common objections skeptics throw out against captive insurance, including its perception as a hidden tax shelter, there are also multiple advantages.
more in tax practice: captive insurance: the top eight myths | the new tax opportunities in real estate | should the irs create a free file app of its own? | your tax season success plan starts here, now | tax prep fintech startup: april raises $30 million | new ira guide updated & expanded with 42-page supplement | thinking commercial real estate? think fast | new small firm cost seg opportunities | can the r&d tax credit be used to offset the amt?
pro members: log in here or 2022世界杯足球排名 today.
here we’ll look closer at the many advantages of a captive for your business owner clients, including flexibility, speed, financing source, wealth building and creditor protection.
headcounts grow 5%; pay rates surge at 7% pace
the only down spots? tax prep and payroll.
by beth bellor
卡塔尔世界杯常规比赛时间 research
we like to see a month or two of increases when we’re talking about jobs, but how about six or seven? that’s the rosy picture seen across several sectors in accounting, according to the latest available data.
more: cpa staff wages hit new high and keep climbing | firms battle staff shortages with pay hikes | tax & accounting firms beef up wages and headcounts | employee counts, earnings rise
oh, you’re an employee looking at potential earnings? they just hit new highs at cpa firms and for staff overall.
we report here on the accounting profession as a whole as well as:
- cpa firms
- tax preparation services
- payroll services
- bookkeeping
- women
captive insurance: the top eight myths
deconstructing misconceptions about forming your own insurance company to optimize cash, mitigate taxes and build enterprise value
by ken huffman, cpa
president
captive nation
with continued economic uncertainty, companies of all sizes are looking toward captives as a way to manage high-severity risks and gain enhanced flexibility and greater control over their total cost of risk. and you don’t have to be a global behemoth to form a captive.
more in tax practice: the new tax opportunities in real estate | should the irs create a free file app of its own? | your tax season success plan starts here, now | tax prep fintech startup: april raises $30 million | new ira guide updated & expanded with 42-page supplement | thinking commercial real estate? think fast | new small firm cost seg opportunities | can the r&d tax credit be used to offset the amt? | how the r&d tax credit has expanded over the years |
captive insurance can be one of the most effective ways for businesses to protect themselves, optimize cash, mitigate taxes and build enterprise value. however, captives often arouse suspicion among those who are not well-informed. that’s because there have been widely publicized cases of companies using captives as illegal tax shelters, among other abuses.
to separate fact from fiction, i will walk you through some of the most frequently heard objections to captives and explain why those objections are often short-sighted. read more →
the new tax opportunities in real estate
maximize deductions and increase cash flow for real estate and construction clients.
by hank berkowitz
with a new tax landscape on the horizon, there’s never been more pressure (and more opportunities) for cpas to help their real estate and construction clients maximize deductions and increase cash flow.
more in tax practice: new small firm cost seg opportunities | what gig workers want |survey: big worries for u.s. and small business | working harder for every dollar | for a few: why busy season 2022 beats 2021 | can the r&d tax credit be used to offset the amt? | 21 reasons tax clients fire accountants | unhappy about tax season? | individual tax refunds up 13% | shut down the tax charlatans | eight quick, easy ways to fix irs filing | a tax season worse than 2021? | 16 traits of the best tax clients | irs under covid: heroes or goats?
“we’re looking at some of the biggest changes to the tax regulation, code, stimulus in a generation,” observed rick telberg, founder and ceo of 卡塔尔世界杯常规比赛时间, at the ct society of cpas virtual real estate conference, produced in association with bedford cost segregation /source advisors.
should the irs create a free file app of its own?
three ways to fix the program.
by 卡塔尔世界杯常规比赛时间
here’s something weird: the irs offers the vast majority of taxpayers the option to use the free file program to prepare returns.
more: irs audit rates are dropping, and big earners couldn’t be happier | six more ways to fix the irs | is remote the new normal? | accounting pros face challenges in turbulent times | your tax season success plan starts here, now | tax prep fintech startup: april raises $30 million | accountants agree: the top five ways to fix the irs
it costs taxpayers nothing. yet only three percent use it. can it be fixed? should it? congress is weighing in.
your tax season success plan starts here, now
now that everyone has (hopefully) had time to recover, there are four important steps to take to help next tax season go as smooth as possible
by christopher hayden
managing partner, hayden nelson & yoder
christopher hayden, cpa, cma, cgma is the managing partner of hayden nelson & yoder, a cpa firm based in pennsylvania, at hnycpas.com.
to avoid sugar-coating it, tax season is stressful. long work hours, back-and-forth with clients and mountains of documents can keep accounting professionals in the office for 20 or more additional hours each week. and this tax season felt extra-stressful with all the tax law changes, not to mention explaining to clients who had huge capital gains why they owed taxes.
but once the busy tax season is over, it’s time to review processes and take action to help the remainder of the year go smoothly.
more: civility goes a long way | don’t overlook office relationships | how to deliver authentic value | why deadlines get missed | five reasons you’re not swot-ready | are you productive or just busy? | accounting is a profession, not an industry
before that, allow a few weeks to:
- rest
- relax
- recover
make sure to give team members a pat on the back, especially if it’s their first time going through the madness of tax season or they went above and beyond this year.
however, once everyone has recovered enough, it’s time to go through the following steps: read more →
tax prep fintech startup: april raises $30 million
after successful tax season, embedded tax platform april raises $30m series a from fintech veterans
new ira guide updated & expanded with 42-page supplement
free to buyers of the first edition.
卡塔尔世界杯常规比赛时间 is pleased to announce the updated version of a practitioner’s guide to the ira distribution rules under the secure act by seymour goldberg is now available for sale in the 卡塔尔世界杯常规比赛时间 shop here.
- buyers of the first edition, issued last year, can pick up the new edition for free, using as a discount code the last word on page “i” of the edition they already own.
the new guide includes a 42-page supplement that covers many of the changes in the retirement distribution rules that every accountant dealing with iras must know. the proposed regulations were issued on feb. 23.
the new regs take up only 275 pages, but they are maddeningly complex. “a slipup in not knowing the rules can have adverse irs penalty tax consequences,” warns author goldberg.
thinking commercial real estate? think fast.
warn clients: do the deal, get the cost seg study, and claim the bonus depreciation before it sunsets.
by julio gonzalez
engineered tax services
julio gonzalez, founder and ceo of engineered tax services, has been named among the accounting today top 100 most influential people. gonzalez has been a pioneer in bringing specialized engineering tax studies to local cpa firms and mainstream america, which historically had only been available to fortune 500 through national accounting firms. engineered tax services also owns the growth partnership, able: crm for accountants, and inside public accounting.
alas, the 100 percent bonus depreciation rule—the federal tax law under the tax cuts and jobs act (tcja) of 2017 that made it possible for taxpayers to write off a property’s reallocation in the year of acquisition—will begin to sunset at the end of this year.
more in tax practice: new small firm cost seg opportunities | what gig workers want | survey: big worries for u.s. and small business | working harder for every dollar | for a few: why busy season 2022 beats 2021 | can the r&d tax credit be used to offset the amt? | 21 reasons tax clients fire accountants | unhappy about tax season? | individual tax refunds up 13% | shut down the tax charlatans | eight quick, easy ways to fix irs filing | a tax season worse than 2021? | 16 traits of the best tax clients | irs under covid: heroes or goats?
in its place in 2023, an 80 percent bonus depreciation will be allowed for properties acquired in 2023, scaling down to 60 percent in 2024 (for properties acquired in 2024), 40 percent in 2025 (for properties acquired in 2025), 20 percent in 2026 (for properties acquired in 2026), and then zero percent in 2027 and later years for properties acquired in 2027 and afterward.
it’s important to note for your clients in real estate that bonus depreciation is applied to a property based on the year it was purchased (although there are some exceptions to this rule). and taxpayers can only claim bonus depreciation retroactively within two tax years of the original placed-in-service date. read more →
new small firm cost seg opportunities
accountants’ top five questions answered.
by brian coddington
source advisors
brian coddington is the director of tax accounting methods and credits in the fort worth, texas, office of source advisors.
cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax and improve cash flow.
more: can the r&d tax credit be used to offset the amt? | how the r&d tax credit has expanded over the years | the nine-point plan for handling §179d
1 — who uses cost segregation?
once used only by the largest accounting firms and real estate owners, this practice has now become routine for commercial property owners of almost every size.
what gig workers want
and what they need opens new opportunities for accountants and accounting tech.
by 卡塔尔世界杯常规比赛时间
one of the most radical and ramifying shifts in employment economics of the past several decades is the advent of gig workers—the millions of americans working out of their garages, attics, closets and breakfast nooks.
and all of them have unique accounting needs.
accounting firms need them. and venture-backed software startups are chasing them. read more →