IRS extends relief to Puerto Rico following Hurricane Fiona
Hurricane Fiona ripped through Puerto Rico this past week, leaving many without power and causing damage across the island. The last thing on most...
Security Summit: Beware evolving email, cloud-based schemes to steal taxpayer data
As part of a special Security Summit series, the Internal Revenue Service, state tax agencies and the nation's tax industry warn tax professionals to...
Mileage Deduction Warning
Deducting mileage seems to be a beloved deduction amongst taxpayers. I seem to get asked by almost every client every year if it is...
Don’t Miss the NOL Carryback
The 2020 Cares Act reinstated the five-year carryback rule for Net Operating Losses that were incurred after Dec. 31, 2017, and before Jan. 1,...
Will penalty relief be extended?
The recently announced late filing relief was extended to millions of returns from 2019 and 2020. If late filed returns are filed by Sept....
Security Summit: Tax pros can help clients battle identity theft risk
The Security Summit partners today concluded a special summer education campaign by outlining steps tax professionals can take to help clients from becoming statistics...
IRS penalty relief coming next month
To provide further relief to taxpayers and the IRS alike, penalty relief will begin taking effect next month. The IRS has been massively underwater,...
Student loan debt forgiveness not subject to tax (sometimes)
The Biden Administration is moving forward with its plans for student loan debt relief. A platform that has been near and dear to this...
AICPA expresses concerns on Notice 2022-36
Following an announcement last week that the Internal Revenue Service (IRS) would offer penalty relief to taxpayers for taxable years 2019 and 2020, the...
Sorting your client list for better profit margins
It seems entirely unreasonable for newer business owners to suggest we would be the ones to eliminate paying clients from our client list. For...
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Are you taking on too much?
Most of us have heard the phrase “jack of all trades,” and we usually use it as a term of endearment to compliment seemingly...
Topel Forman affiliates with Avantax for wealth management, financial planning services
Accounting firm Topel Forman L.L.C. has affiliated with Avantax Planning Partners℠, Avantax’s employee-based RIA (registered investment advisor) to provide comprehensive tax-focused financial planning and...
Old school accounting firms are dead
Talent shortages are impacting every industry across the nation. Forbes recently reported that talent shortages could create up to 85 million unfilled jobs over...