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- Category: Blog Post
- What Farm Clients Need to Know About S Corporations and Self-Employment
- Questions Answered from Planning for the Surviving Spouse Webinar
- Summer Weddings and Tax-Deductible Expenses
- Tax Consequences of the Family Home for the Surviving Spouse
- One Big Beautiful Bill Implements Significant Tax Package
- Tax Rules for Rental Properties and Vacation Homes
- Can Summer Camp Expenses Qualify for a Tax Deduction?
- Medicare Premium Planning: How MAGI Impacts Your Clients’ Costs
- Summer Jobs and Taxes: Helping Teens Navigate IRS Rules
- How to Reduce or Avoid Estimated Tax Penalties
- What’s Up with Self-Employment Tax, NIIT, and the Additional §1401 Tax?
- IRS Administration in 2025: Key Developments from the First Four Months
- Understanding Tax Extensions: A Guide for Tax Professionals
- Leveraging the Interactive Taxpayer Roadmap
- 10 Reminders for 2024 Tax Filing Season
- BOI Reporting Updates
- Illinois Tax Issues & Updates 2025 – Questions Answered
- How to Implement AI Into a Tax Practice (Tips and Tricks)
- Illinois Gives Tax Credit Act and the Social Security Fairness Act
- Top 10 Blogs in 2024
- Understanding End-of-Year Gifts and Charitable Giving
- IRS Clarifies Form 1099-K Filing Requirements Starting in 2024
- A Tax Preparer’s Thanksgiving Survival Guide
- Self-employed Ministers and Taxes: Income, Deductions, Exemptions
- New 2025 Tax Rates and Thresholds
- IRS Resources for Tax Pros: Advocacy, Outreach, and Client Support
- Conversations with Your Fall Tax School Instructors
- Hurricanes Wash Up Scammers
- Tax Season Bites: Pairing Food with Financial Crunch
- October 15 Deadline for Extended Individual Filings
- Discover What Makes Fall Tax School Unique and Essential
- Applying the Updated WISP Requirements
- Unpacking the §45Z Clean Fuel Production Credit
- September 16 Deadline for Extended Pass-Through Filings
- ERC Voluntary Disclosure Program Reopened with Updated Terms
- The Federal Tax Workbook – Process in Perspective
- Meet Bob Rhea, Tax School Instructor
- Determining AFS for Corporate AMT Calculation
- Planning for the Estate Tax Exemption Cliff
- Meet Catherine Riddick, Tax School Instructor
- Tax Rules for Rentals and Vacation Homes
- Meet Keith Baum, Tax School Instructor
- Income Exclusions for Members of the U.S. Armed Forces
- Taxpayer Relief After a Disaster
- Meet Jerry Brune, Tax School Instructor
- Tax Credits For Higher Education
- Basic Principles for Entertainment Deduction
- Saving For Retirement Through Backdoor Roths
- TDS Authorization Change
- ERC Scam in the News
- Basic Principles for Meals Deduction
- IRC §179 Expense vs. Bonus Depreciation
- Tax Day 2024 – Let’s Celebrate with Some History!
- May Deadline Approaches for Securing Stimulus Payments from 2020
- Employee vs. Independent Contractor: DOL Issues New Guidance
- BOI Reporting Requirements Enforced For Most Despite Constitutional Challenge
- Countdown to ERC Compliance: Voluntary Disclosure Program Deadline March 22
- S Corp & Partnership Tax Filing Deadlines March 15
- How to Correct Rejected E-filed Tax Returns
- IRS Enhances Clean Vehicle Credit Information with Updated FAQs
- What’s New in Digital Asset Reporting
- Legislative Limbo: Deciding When to File 2023 Taxes
- Tax Bill Impacts Filing Season
- FBAR Failure to File Penalty: Bittner v. U.S.
- BOI: New Federal Reporting for Small Businesses
- IRS Introduces Voluntary Disclosure Program for Ineligible ERC Claims
- New 2024 Tax Rates and Thresholds
- Top 10 Blogs in 2023
- Honoring Rich Walden – Over 40 Years of Service
- IRS Delays Implementation of 1099-K Filing Changes to Calendar Year 2024
- How To Handle Pre-paid Farm Expenses When a Farmer Dies
- The Corporate Transparency Act: Key Considerations for Beneficial Owners and Reporting Companies
- IRS Launches Initiative for Taxpayers to Withdraw Noncompliant ERC Claims
- How to Cash In Clean Vehicle Tax Credits at Point of Purchase
- How To Link Tax Pro Accounts to CAF Database Records
- Taxability and Nontaxability of Social Security Benefits
- Understanding Deductible Expenses When Closing an Estate or Trust
- IRS Announcements: State Tax Refunds and the General Welfare Exclusion
- IRS Provides Temporary Relief from Foreign Tax Credit Changes
- Navigating the New Regulations for Inherited IRAs
- Answers to Important PTE Tax Questions
- IDOR to Abate Late Estimated Payment Penalties for PTE Tax
- Why Tens of Thousands Got ERC That Did Not Qualify
- 2023 Federal Tax Workbook Update
- Anchors Aweigh for Reasonable Cause
- Are Pass-Through Entity Taxes Worth The Hype?
- When Is It Time To Say Goodbye to a Client?
- IRS and Security Summit Partners Warn of New Unusual Mail Scam
- Advantages & Disadvantages of Making §761(a) Election
- Direct File: The IRS’s New Free Tax Filing System
- Navigating Meals and Entertainment Expenses
- School’s Out But College Savings Is Still In Session
- Deducting Residual (Excess) Soil Fertility – Does the Concept Apply to Pasture/Rangeland?
- Two More Key Provisions of the SECURE 2.0 Act
- Shedding Light on ERC Audits
- Pros and Cons of Portability
- Ugly Donkeys Get Beautiful Results in Tax Court
- Understanding Farm Tax Reporting: A Guide for Tax Professionals
- Leveraging the Power of ChatGPT and Other AI Tools in Your Tax Practice
- Congratulations! You’ve Nearly Made It To Tax Day 2023!
- Should You Prepare Your Client’s Amended Return for ERC?
- Ordinary and Necessary Expenses
- Gifting vs Inheriting
- IRS Representation: What Tax Professionals Need to Know
- S Corp and Partnership Due Date Reminder
- Don’t Fall for ERC Scams – Qualify the Correct Way
- Cryptic Territory – An Update on Digital Assets and Tax Implications
- How Do I Report State Tax Rebates?
- Ten Considerations for the 2023 Tax Filing Season
- Answers to Important Illinois Tax Questions
- How To Implement Latest IRS Instructions for Schedules K-2 & K-3
- Two Key Provisions of the SECURE 2.0 Act
- Illinois Secure Choice Overview
- For Whom Does the Filing Deadline Toll?
- Basic Rules On Gifting
- Time Is Running Out To Reduce 2022 Tax Burden Using PTE Payments
- What Does “Like-Kind” Really Mean Anyway?
- Thanksgiving Thoughts from Tax Pros
- International Taxation Issues Affecting Military Returns
- Rules for Churches and 501(c)(3) Organizations
- The Identity (Theft) Mash
- Fraudulent Text Messages Impersonating The IRS
- 5 Instructors. 12 Dates. 1 Fall Tax School.
- The Extension Due Date Approaches
- Disaster Relief for Taxpayers
- Life Estates in the Distribution of Estate Assets
- Special 100% Depreciation Allowance Ending This Year
- Is the IRA Still Stretchy?
- An Overview of the Inflation Reduction Act
- Automatic Penalty Relief for Some 2019 & 2020 Tax Returns
- Tax Treatment for Solar Panels: Business vs Individual Use
- Update on 2022 Federal Tax Workbook
- Navigating the Illinois Income and Property Tax Rebates
- Cryptocurrency Defined
- The Impact of Rising Interest Rates on Current and Future Homeowners’ Taxes
- Deductible Start-Up Costs and Web-Based Businesses
- Tax Issues with Customer Loyalty Reward Programs
- Gambler Cuts His Losses
- 5 Myths About Accountants
- IRS Audit Issue – S Corporation Reasonable Compensation
- Tax Deadline is June 15 for Americans Living Abroad
- It’s Time to Start Planning for 2022 Tax Returns
- Building Blocks of Life & Career
- House Flipping – Business or Investment?
- Filing Deadline for Tax-Exempt Organizations is Mid-May
- Reflections on 2021 Tax Season
- Filing Deadline Tidbits
- Last Chance To File or Amend 2018 Tax Returns
- Remember to Ask Tax Clients About Charitable Donations
- Section 645 Relieves Time Pressure for Tax Practioners and Benefits Trustees
- My Tax Client Answered “Yes” on Virtual Currency – Now What?
- A Narrow Window of Opportunity for Married Couples to Enhance Tax Credits
- Revisiting Dependency: To Claim or Not To Claim
- Why the 65-Day Rule & March 6 Is Important to Complex Trusts
- Climbing IRS Schedule K-2 When Preparing Taxes
- What Questions Should You Ask New Tax Clients?
- First Week of Filing Season Report Card
- RMD Changes in 2022
- Get IRS Tax Information Fast with the Online Taxpayer Account
- Steps to Set Up a Taxpayer Online Account If Your Client Didn’t Receive IRS Letter 6419
- IRS Letter 6419 Explained (Child Tax Credit)
- The Day of Reckoning – Is it January 15 or 18?
- 2021 Fall Tax School Questions Answered – Part 2
- 2021 Fall Tax School Questions Answered – Part 1
- Fourth Quarter Planning with 2021 Premium Tax Credits
- Employee Retention Credit: Providing Clarity and Examples
- The Ethical Dilemma of Dependency with Newly Enacted Tax Benefits
- How Do I Handle the Changing Rules for Form 1099-K for Clients?
- RMDs – Round 2
- RMD…QCD…M.O.U.S.E.
- The WOTC Benefits Employers and the Unemployed
- Excluded Debt Forgiveness Bites Back Earlier than Expected
- Social Security 2022 Fact Sheet
- Student Loan Interest and Taxes
- Last Warning… Extension Deadline is Friday
- Filing 2020 Returns: Help for Clients Who Took Early Distributions from IRAs or Qualified Plans
- 2020 Net Operating Losses – Days of Future Past?
- Recovery Rebates: I’ve Got a Song Ain’t Got No Melody?
- A Lesson in Applying All the New Laws Enacted During the Pandemic
- Does Your Client Really Need a Trust?
- Reasonable Compensation for Subchapter S Corporation Shareholders
- How Long Can You Deduct Standard Mileage on the Same Vehicle?
- Practice Management: Thinning the Ranks
- Welcome to the Dog Days of Summer
- Recovering Costs in Tax Litigation
- Join the Conversation
- Recent Tax Court Cases on Common Issues
- IRS Guidance on Farm NOLs
- Tax Pro Spotlight: Daniel Vargo
- Advanced Child Tax Credit – What You Need to Know
- A Look at Tax Reform Proposals
- Tax Pro Spotlight: Michael Braun
- Mid-Year Tax Planning Ideas for Tax Professionals
- RMDs are Back
- May 17 Filing Deadline Tidbits
- Advance Child Tax Credit…Should You Turn It Down?
- The IRS Says Don’t Amend Returns
- Defining the Income of a Trust
- Repaying Excess Advance Premium Tax Credits (APTC)
- Time Running Out to Claim 2017 Refund
- Tax Season Tidbits
- Calculating Unemployment Compensation to Exclude from Income
- Individual Filing Extension & American Rescue Plan Updates
- American Rescue Plan: What Tax Pros Should Know
- What’s the Gig Deal? Part 2
- March 6 and the 65-Day Rule
- What’s the Gig Deal?
- Allocating Marketplace Premiums
- Should Qualified Plan or IRA Distributions be Included on the 2020 Return?
- Recovery Rebate Restlessness
- Practice Management Tip: Engagement Letters
- PPP Loan Forgivable for Farmers in 2nd Round
- More New Tax Legislation to Digest
- Tax Pro Spotlight: Elizabeth Stock
- 2020 Year-End Tax Planning
- Identity Protection PINs Available to All Taxpayers (in January)
- FFCRA Sick Leave Credits Explained
- Are Expenses Paid with Forgiven PPP Loan Proceeds Tax Deductible?
- Deductible Expenses When an Estate or Trust is Closed
- Tapping into IRAs and Qualified Plan Accounts
- Should a Trust be an IRA Beneficiary?
- Social Security Administration Announces 2021 Social Security Changes
- No Tricks or Treats: SBA Releases More PPP Loan Forgiveness Guidance
- Simplified PPP Forgiveness Process
- CFAP 2: How It Works and Application Walkthrough
- September 2020 Filing Deadlines
- Payroll Tax Deferral: Recent Presidential Executive Orders
- Demolishing Farm Buildings and Structures – Any Tax Benefit?
- Charitable Deductions for Trusts
- 80 Years of Tax Continuing Education
- Allowable Deductions for Trusts
- New Form 941 Worksheet 1: A Step-by-Step Guide
- New Form 941 Requirements
- RMD Rollover Extended to August 31, 2020
- Two Weeks To Go Before July 15 Deadline!
- The Top 7 Estate Planning Objectives
- Taxpayers with Foreign Income and Assets
- Paycheck Protection Program Flexibility Act (PPPFA) of 2020
- PPP Loan: Questions Answered (Part II)
- PPP Loan: Questions Answered (Part I)
- Paycheck Protection Program Phase II: Loan Forgiveness
- Recovery Rebate Information
- News from Recent IRS Notices
- PPP Loans for the Self-Employed: SBA Q&A
- Information on Coronavirus Stimulus Packages
- FAQ IRS Notice 2020-18: Federal Tax Relief
- Keep Calm and Carry On [UPDATED]
- S Corp and Partnership due [March 16, 2020]
- Advanced Premium Assistance Creates Planning Opportunities
- New Tax Client – What Do You Do?
- Tax Extenders
- Standard Deduction Impacts Office in Home
- 2020 IRA Changes
- Tax Season Resources & Tools
- Tax Preparer Penalties: Who, me??
- Is Your Client’s Activity a Hobby or a Business?
- Let’s talk about your data security plan
- Prepare for Filing Season
- 2019 Year-End Tax Planning
- Noncash Charitable Contributions: What You Need to Know
- Cash Charitable Contributions: What You Need to Know
- Backdoor Roth IRA: Have you heard of it?
- Happy Thanksgiving
- Forgot to file?
- Sole Proprietorship vs. S Corporation
- Ask the Expert: Paperless Office
- The Identity (Theft) Mash
- QBID Calculator updated for 2019
- Peace, Love & Tax School
- Extension Deadline is October 15
- Where oh Where to Deduct Mortgage Interest
- Ask the Expert: Using Technology in Tax Practice
- Social Security 101
- Farm Tax Strategies and Issues Post-TCJA
- Extension Deadline: S Corp, Partnership, and Trust/Estate
- Unreimbursed Partners’ Expenses (and Paul Bunyan?)
- Tax Pro Spotlight: Dawn Witek
- New Draft Form 1040 & Form 1040-SR
- Ask the Expert: So you want to be an expert witness
- Tax Amnesty Program for Illinois taxpayers and preparers
- Self-employed health insurance deduction
- Uh-Oh, I Forgot to File (or Filed Late) My Partnership or Subchapter S Corporation Return!
- Let’s talk about Qualified Charitable Distributions.
- Your next stop…the Q Zone!
- Clearing up QBID Confusion
- How to avoid the same mistakes as last year with your tax clients
- Category: Uncategorized
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