Something as complicated as tax reform can be difficult to explain in simple terms to clients who would rather focus on their businesses than be overwhelmed by one more phone call, newsletter or even email string. We feel their pain;...
As tax and accounting professionals, we all want our clients to be successful. Yet, while most small business CEOs are really knowledgeable about their particular product, service or business, I find that most lack skills around financial and business insight....
Anthony and Jim share three updates in this episode of TaxProTalk: IRS Publication 535, Business Expenses, is final, and chapter 12 covers the basics of qualified business income. Leading with tax planning starts during your tax season engagements. Proactively educate...
A few months ago, Acuity started a tax practice, and in our 14 years of existence, this was something we never thought we’d do. Since inception, we had been an outsourced accounting practice, starting with CFO services, and adding controller...
It’s February, which means you’re already busy working with clients on tax year 2018 filings. Don’t forget about this month’s important tax and compliance deadlines. In February, it’s recommended that you: Send reminders to individual clients who have not returned...
In this episode of TaxProTalk, Tony and Jim discuss details of the Qualified Business Income updates after the IRS issued final regulations covering rental real estate and backing out adjustments to income, and calculating QBI in the simple and complex...
The Tax Cut and Jobs Act (TCJA), passed by Congress in 2017, introduced numerous changes to the tax code. While some changes may negatively affect a tax practitioner’s clients, other changes will have a more positive outcome. One positive change...
What is Performance-Based Pay? Many tax and accounting firms are converting their staff from hourly rates or salary to commission-based payment systems. Commission is no longer found only in the typical sales environment. Instead, employers of all types are focusing...
Taxpayers who are legally married must file either a joint or a married filing separately tax return, and both spouses must sign the return or it is not considered a joint return. Generally, both spouses are liable jointly and separately...
With business e-file open and individual e-file opening in just a few days, we’d love to know how confident you feel heading into tax season. Take the poll below and let us know. Do you want to continue to...
Something as complicated as tax reform can be difficult to explain in simple terms to clients who would rather focus on their businesses than be overwhelmed by one more phone call, newsletter or even email string. We feel their pain;... 
