Sale of Business Assets: What You Need to Know About Form 4797
How to Navigate IRS Form 4797 and the Sale of Business Assets Whether you’re an enrolled agent, a CPA, or a dedicated tax preparer, there’s one thing that holds true come tax time: preparing a client’s tax returns is rarely simple. Depending on the client, there may or may not be a big stack of […]
2018 Decedent and Estate Tax Updates
Decedents and the Estate Tax: Updates Following 2018 Tax Reform Working as an accountant, tax preparer, enrolled agent, or tax attorney can be both rewarding and challenging. And sometimes, the challenges that the work presents might surprise you. When you think of a difficult task in the accounting world, you probably picture a big stack […]
What is Hobby Loss?
Hobby Loss CPE Webinars: Understanding IRC 183 We all have hobbies. They’re an important part of maintaining a health work-life balance, after all. Some people play chess, others go mountain biking, and some people play music as part of a weekly Saturday night open mic. There are literally millions of hobbies out there, and most of […]
Tax Reform: What Does It Mean for Employers?
Last December, Congress passed the Tax Cuts and Jobs Act. A few days later, President Donald Trump signed it into law. The sweeping tax reform that’s come as a result will have a dramatic impact on federal tax filers across a wide spectrum of income levels, types of employment, and personal financial situations. If you’re […]
An Introduction to the Tax Implications of Marijuana
As a tax professional, you probably work with a wide range of clients. It doesn’t matter whether you’re an accountant specializing in taxes, an enrolled agent, a certified tax preparer, a tax attorney, or any other professional covered under circular 230. Regardless, your clients probably come in all shapes and sizes. When working with various […]
What is Cost Segregation?
Whether you’re an accountant, an enrolled agent (EA), certified tax preparer, or even a tax attorney, your clients typically look to you for one thing above all others: saving them money. It’s true. It doesn’t matter what the client’s line of work is, what their tax burden may or may not be, or what sort of […]
The Implications of Divorce: What Happens to Your Taxes?
Divorce is a challenging event to experience. Anyone who’s gone through it can attest to just how difficult it can be. And, while most people think it simply won’t ever happen to them, the statistics tend to say otherwise. In fact, as many as 40-50% of marriages in the United States will eventually end in […]
Crowdfunding: The Definitive Guide for Accounting Professionals
The Definitive Guide to Crowdfunding for Accountants and Tax Professionals When starting a business, there are all sorts of options for funding. You might form an LLC and back it yourself with your own private funds. You could attempt to raise venture capital from accredited investors and form a C-Corporation. Or, you could distribute shares […]
S Corps and Reasonable Compensation
S Corps and Reasonable Compensation: What’s Really Reasonable? Basics & Beyond™ offers many tax webinars to help you stay up-to-date on various topics. One of which is S corps and reasonable compensation. In the United States, corporations come in a variety of shapes and sizes. For many businesses, choosing to form a C corp versus […]
The Difference Between a Tax CPA and EA: All Your Questions Answered
Are you a would-be accounting or tax professional? Or, are you an individual filer trying to determine who to enlist for the preparation of your annual federal and state income taxes? In either case, it’s important to understand the difference between a Certified Public Accountant (CPA) and an Enrolled Agent (EA). While they have a […]
