If you’re just joining us, part one in this series spelled out why the filing deadline for 1040s for calendar year 2021 is April 18, 2022, for most filers. The good news for filers who submit Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax
One of the most painful challenges your accounting practice can face is the small business or solo entrepreneur who shows up at the front desk with a box full of disorganized receipts, a problematic ledger of check deposits, and confusing home-grown spreadsheets of indecipherable numbers. Any number of reasons create
One of the most painful challenges your accounting practice can face is the small business or solo entrepreneur who shows up at the front desk with a box full of disorganized receipts, a problematic ledger of check deposits, and confusing home-grown spreadsheets of indecipherable numbers. Any number of reasons create
What is the current state of research and development (R&D) tax credits and how can you help your startup clients obtain them? As federal and state tax incentives, R&D tax credits encourage innovation and technical design improvement by reimbursing companies that develop new products, processes, or inventions. With the credit,
Has your dentist ever tried selling you an electric toothbrush? It aligns with their mission, caring for the health of your teeth. Using it will be good for you, but the sale of the toothbrush is a transaction, making them money. The electric toothbrush isn’t an integral part of the
Foul on the play! In a new case, Hoops, LP, TC Memo 2022-9, 2/23/22, the former owner of a professional basketball team tried to deduct nonqualified deferred compensation that was owed to two of their players. But the Tax Court determined that taking a current deduction was a violation of
In addition to the fantastic networking opportunities and engaging content agenda you’ll find at the AccountingWEB Live Summit this May in San Diego, we also have exhibit halls filled with vendors who offer the latest technology that will solve your problems and help you work more efficiently. This week, we spoke with ClearSpend
When a family hires someone to work in their home, like a nanny, housekeeper or senior caregiver, they become an employer and have employment tax obligations. These are commonly called “nanny taxes” and include the employer portion of FICA (Social Security and Medicare) and federal and state unemployment insurance. The
Accountants need to remind clients that their day of reckoning with the IRS is happening in just a few weeks. This is the first article in a series on what to tell clients who need or want to postpone the inevitable. Remember that the IRS wants to help. The agency says there’s
We recenly spoke to Sage’s Ed Kless to talk about outcomes vs. outputs, why he joined the agenda at AccountingWEB Live Summit, and what you can expect from his revolutionary session on Selling Your Brain, Not Your Time on day two of the event. I met Ed very early on
