When I say the words “unreasonable and demanding,” chances are, a client – either past or present – just sprang to mind. After all, everyone has had a client they’ve considered just throwing up their hands and disengaging with: The client who emails, then calls to make sure you got
Our topic is exclusion from taxable income for employer payments that would otherwise be included in the W-2 (Section 129). The savings can be in income tax as well as FICA. The American Rescue Plan was signed into law on March 11. The credit, the direct reduction in tax liability,
Hiring is no longer limited by physical location. By leveraging technology, we can expand our teams to include people from different geographical locations, broaden our talent pool, reduce overall business costs and provide better client service. But how do you hire someone if you never meet them in person? The
I often receive queries from freelancers, consultants and other kinds of self-employed individuals who use their homes to run their businesses and ask how to take maximum advantage of the IRS’s complex rules for deducting home-office expenses. In particular, they want to know which write-offs are okay and which aren’t.
In a new Tax Court case, Max, TC Memo 2021-37, 3/29/71, a clothing manufacturer could not claim the R&D tax credit for its process of designing garments. Generally, the R&D credit is equal to 20 percent of the amount of qualified research expenses for the year above a base amount.
Ford Baker, CPA, founded the BaCo Group in 1999. For 20 years, he grew his firm, hired staff, and expanded his expertise. In 2020, a new need emerged. After developing an accounting workflow technology and a startup spinoff company called BaCo Tech, Ford needed someone to step in to take the day-to-day reins of the firm so he could better manage where his attention was going. Ford brought on Joe
Tax day was extended one month and two days this year to May 17, 2021. But that doesn’t mean the job will be any easier for accounting and finance professionals. More time to process files doesn’t necessarily mean more time to get work done. For accountants and tax experts, it
After transitioning most of their workforces to operate remotely for the past year, accounting firms now face the decision of if and when to have employees return to offices. Before jumping full bore into an ongoing remote workforce situation, there are critical factors to be considered when it comes to
QuickBooks, with all its features, functionality, and variety, is not free from errors or bugs. A lot of the time, QuickBooks hangs or freezes, and there can be multiple reasons for that to happen.This hampers workflow productivity and can also harm the business immediately or in the long run. This
It’s rare that we get to call out the achievements of our own writers or any individual in the world of tax and accounting, for that matter. But to every rule there are exceptions, and our long-time columnist Julian Block is one of them. Avid readers of AccountingWEB know that our primary objective