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How Clients’ State Residency Affects Estate Taxes

When considering estate taxes, where your client lives has a big impact on how much their estate will owe when they die. There are both state and federal estate taxes, and Congress is considering legislation that would change the federal rules. This article will look at how the state where

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Easiest Ways to Rectify TurboTax Error 2329

TurboTax is a leading software catering to the income tax needs of small and medium-sized businesses. However, despite its easy to operate tools, the application faces technical glitches like the TurboTax Error 2329. The user mainly causes this error is attempting to download and install the latest program updates. Although

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5 Takeaways from COVID-19 for CPA Firms

While the switch from working in an office to working at home during the pandemic was abrupt, most businesses and their employees adapted quickly to remote work, discovering it improved work-life balance. Now, you can go for a run in the middle of a busy workday and still be productive.  Staff

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How to Create a Relevant Cybersecurity Strategy

The cybersecurity landscape is always changing: Between 2019 and 2020, ransomware attacks rose by 180 percent in North America alone, according to a 2021 report by cybersecurity firm SonicWall. The total global cost of damages from ransomware attacks is projected to exceed $20 billion in 2021, and the total global cost of cybercrime

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Uber Driver Takes a Wrong Tax Turn

In a new case, Nurumbi, 2021-79, TC Memo 2021-79. 6/30/21, an Uber driver ran afoul of the rules, but at least was able to salvage some deductions in Tax Court. Participants in the so-called “gig economy” ranging from drivers to temporary landlords to delivery services people are generally treated as

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What Tax Breaks Do Disaster Victims Get?

Let’s time travel back to a couple of days before Santa descended chimneys in 2017, which was when Congress okayed and President Donald J. Trump signed the Tax Cuts and Jobs Act (TCJA). Both supporters and critics of the 45th president agree that the TCJA was his signature legislative accomplishment,

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Xero Unveils the Future of New Reports

Xero, the global small business platform, today unveiled that it will roll out a series of significant technology and design updates to new reports over the next six months, to help accountants and bookkeepers unearth and present valuable insights for clients. The new updates are part of Xero’s broader investment

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Why Clients Leave (and How to Prevent Surprises)

“50 Ways to Leave Your Lover.” Paul Simon released the song in 1975. It’s still a classic almost 50 years later. The song actually listed maybe seven ways. When it comes to early warning signs a client is planning to leave, we can find plenty more. Accountants are associated with

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How to Record a Trade in QuickBooks? Is it Trade or Barter?

Barter and Trade are some standard terms used while you run a business, and some users are still unsure about the difference between the two. While Barter is a non-cash transaction, Trade involves money for goods and services. As an integral part of your organization, you must mention these transactions

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