The IRS will waive the estimated tax penalty for any qualifying farmer or fisherman who files their 2018 federal income tax return and pays any tax due by Monday, April 15, 2019. The deadline is Wednesday, April 17, 2019, for...
Tupperware parties used to be all the rage for housewives who just wanted to escape their families for a few hours and enjoy some girl time, but now with hundreds of multi-level marketing companies to choose from, not only are...
Tax professionals can develop their skills and present themselves to clients and prospects as generalists, specialists in certain industries or a blend of the two. It’s never too late to educate yourself and catch up with the tax (and accounting)...
As students head back to their classrooms after the summer break, so do their teachers. It’s time for a quick brush-up course on tax benefits for your clients who are in the teaching profession. Classroom Expenses In a perfect world, schools would...
In my previous post, I gave an overview of oil and gas tax, including percentage depletion. In this article, I will discuss cost depletion. Cost depletion is important because your clients will not always qualify for percentage depletion. If they...
This title may sound like an oxymoron … after all, entire courses are given on the topic of oil and gas tax. However, with a basic overview, you can have a starting point for a client coming to you with...
Because lots of construction workers are classified as independent contractors, they are seen as self-employed professionals and don’t have taxes withheld from their paychecks like traditional employees. This means they can claim business-related expenses as tax deductions, have more of...
Manufacturing has long been a pillar of American commerce and economic growth, and to empower our economy and create jobs, Congress has developed numerous tax incentives for the industry you ought to know about to advise your clients. In addition,...
With the real estate market booming once again, you may see an increase in real estate professionals looking for help from a tax specialists like you. In general, rents included on Form 1099-MISC are reported on Schedule E and are...
If you have clients who are in the U. S. Armed Forces, there are special tax breaks that apply to them. Here’s a list of some basic tips: Deadline Extensions. Some members of the military, such as those who serve...
The IRS will waive the estimated tax penalty for any qualifying farmer or fisherman who files their 2018 federal income tax return and pays any tax due by Monday, April 15, 2019. The deadline is Wednesday, April 17, 2019, for... 
