Season
Tax Preparation for a Digital World
It is extremely evident that technology has drastically changed our world over the past few decades. Especially in the way we do business. This causes our laws to be affected as well. One prime example of technology affecting law and business is the rise of digital currency and the bitcoin. Tax professionals must be...
Understanding the Annual Federal Tax Refresher (AFTR)
If you are looking to take the Annual Federal Tax Refresher (AFTR) for the 2015 filing season, there is some important information for you to know. Here are some basics of the refresher course information: Based on the general filing season concepts Will contain tax updates Will contain typical trouble areas,...
Budget Cuts Leading To Fewer Tax Audits in 2015?
In 2014, Congress slashed the IRS budget by nearly $350 million, putting their budget at 10.9 billion, the lowest it has been since 2008. These cuts will leave the IRS operating at a capacity of 17% less than usual and are anticipated to lead to a good amount of staff cuts. So if you are looking to call the IRS for...
Important Tax Changes for 2015
It's crucial to stay up to date on all the changes to the tax code as the season approaches. The IRS has announced a few small changes to the code for the coming year. Here's a look at what you need to know. Inflation adjustments: This past October, the IRS made three notable changes tax benefits to adjust for...
3 Misconceptions about Tax Preparation
In times of chaos, everybody seems to have a word of advice and while some are legitimate and true, a whole host of others only lead to chaos and misconceptions. What is the most chaotic time of the year? Most adults would agree it’s the time when you have to start your tax preparations and get ready for filing...