Generally speaking, the same tax planning principles apply to tax pros as they do to the client, but here are some key things CPAs and EAs should know when working on their taxes. There is planning in connection with itemizing or using standard deductions. The 2022 standard deduction is $12,950
AccountingWEB prides itself on our personal relationships with vendors and accounting and finance professionals alike. That’s why, when we were deciding whether to hold a live event, we not only surveyed our readers, but we also asked our industry friends their opinions. We we have fantastic support from many heavy
As an accounting professional, you see some concepts as common sense, and your client might be insulted if you tried to explain them. Here is a news flash: Common sense is not that common. The following concepts are good talking points, newsletter content or even subjects for webinars, podcasts or
With more Americans working wherever they are, you can expect more U.S. expats to struggle to manage their taxes despite all the benefits of working abroad. While these jobs allowed them to work outside the country, it also presented a host of challenges to fulfilling their tax obligations. Americans living
FloQast, a provider of accounting workflow automation software created by accountants for accountants, introduced a new Reconciling Items feature and debuted an enhanced version of its Reconciliation Management Solution. Reconciling Items combines with FloQast’s Tracking, AutoRec Matching, and Amortization to manage the account reconciliation process, from strategy and execution to
Whether you recently struck out on your own or you’ve been running a successful accounting firm for years, it’s in your best interest to branch out from solely offering tax services. Those who have been attending conferences over the past few years have likely heard experts discussing the importance of
If you’re just joining us, part one in this series spelled out why the filing deadline for 1040s for calendar year 2021 is April 18, 2022, for most filers. The good news for filers who submit Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax
One of the most painful challenges your accounting practice can face is the small business or solo entrepreneur who shows up at the front desk with a box full of disorganized receipts, a problematic ledger of check deposits, and confusing home-grown spreadsheets of indecipherable numbers. Any number of reasons create
What is the current state of research and development (R&D) tax credits and how can you help your startup clients obtain them? As federal and state tax incentives, R&D tax credits encourage innovation and technical design improvement by reimbursing companies that develop new products, processes, or inventions. With the credit,
Has your dentist ever tried selling you an electric toothbrush? It aligns with their mission, caring for the health of your teeth. Using it will be good for you, but the sale of the toothbrush is a transaction, making them money. The electric toothbrush isn’t an integral part of the