Blog
Is a Capital Gains Tax Cut Coming?
Although Congress has been leery to propose a cut in the capital gains tax rate in its "Tax Cuts 2.0," the President recently floated a new way to index capital gains rates for inflation. This proposal isn't a tax cut, per se, but would have the effect of cutting capital gains taxes on certain...
Get Your Very First Tax Client in As Little As 48 Hours
One of the very first questions new tax professionals ask is, “How do I get my first client?” There are two basic methods to go about solving this problem. Put enough time and effort in promoting your services daily for an entire month, so that it comes out to 48 hours. Aim for the first client...
Suffered a Disaster-Related Loss in 2018? FEMA Designation Controls
For decades, U.S. taxpayers who have suffered casualty and theft losses after a wildfire, hurricane, earthquake, tornado, or another natural disaster have been able to deduct disaster-related costs from the next year's federal income tax return. Because natural disasters can slow insurance processing times and...
What is Digitization and How Will it Impact Tax Services?
One of the biggest new trends in business is the digitization of business processes. But what exactly is digitization and how will it impact tax business practices? Digitization is the move to a new way of doing business. Companies such as Airbnb, Uber, Google Music and similar organizations have come into being in...
Definitive End to SALT Workarounds Could Challenge State Tax Preparers
In August 2018, the U.S. Department of the Treasury proposed a rule limiting the types of charitable contributions taxpayers are permitted to deduct on their federal income tax returns. This rule was a direct—and directed—response to tax laws recently enacted by high-tax states like New York and New Jersey in an...