Pawn king; tell us where it hurts; check’s not in the mail; and other highlights of recent tax cases. Fort Lauderdale, Florida: Tax preparer Guy Telfort has pleaded guilty to criminal contempt for continuing to prepare and file returns with the IRS in violation of a federal court order barring
Many of my clients operate businesses. They’ve learned the expensive way that claiming expenses were incurred for business reasons doesn’t guarantee that their outlays will pass muster with the Internal Revenue Service. What trips them up is Internal Revenue Code Section 162. It mandates that they’re entitled to claim those
Accountants are often being told to “innovate” these days. Many of the articles I’ve worked on recently with writers are all focused on helping professionals stay competitive, especially after two years that really made it clear an advanced tech stack is a necessity to business success these days. But, most
The IRS Electronic Tax Administration Advisory Committee said in its recent report that the service has demonstrated its skill at executing appropriately funded technology and process modernization projects, but warned it will need more support if it wants to meet its true potential. One example of efforts that have recently
Registered investment advisors and their firms have long viewed 401(k) and 403(b) plans as great sources of potential business. A soon-to-be retired client, current or prospective, might have a six- or seven-figure account balance begging for an investment advisor to manage it. What growth-oriented financial advisor is going to miss
There’s something blissful about your business being “all you.” But that bliss can turn to burnout if you don’t implement the right measures. The following six tips will help you, the solo virtual bookkeeper, wear all the hats in your business successfully and with minimal stress. Tip #1: Outsource I
Holes in a proposed gun tax; IRS budget-to-be; offshore account troubles; and other highlights from our favorite tax bloggers. Difficult but important Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): The busy season eventually fades into the off season, which in turn gives way to the second busy season before you can finally follow
CliftonLarsonAllen’s CLA Foundation has committed $1 million in grants to the National Association of Black Accountants to seed NABA’s new Pathway to College program, support human capital needs, and create scholarships. The grant, announced last week during NABA’s national convention in Hollywood, Florida, expands the Top 10 Firm’s previous commitment
The S.E.C. said the cheating involved hundreds of the firm’s workers from 2017 to 2021, resulting in the largest penalty ever imposed by the agency against an auditing firm.
In my previous blog, we talked about how to prepare yourself, your family and team, and your firm for your trip to an onsite conference…’tis the season, you know! Once you have all of that locked down and you arrive at your event, it’s time to focus. As simple as
