In the blogs: Admittedly wonky

Offer ‘solutions more than products; ’the gig economy and the profession; new blog in town; and other highlights from our favorite tax bloggers.

Admittedly wonky

• Procedurally Taxing (https://procedurallytaxing.com): A TIGTA report criticizes the IRS for allowing casualty loss deductions that are not allowed under current law. This post discusses “the (admittedly wonky) issue.”
• Tax Pro Center (https://proconnect.intuit.com/taxprocenter/): A recent study discovered that only one in three small-business owners expect their accountant to help with financial projections. In the blogger’s experience, small-to-midsize businesses are attracted to solutions more than products. How to convince them that a business health checkup is as important as their annual physical.
• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): “Since many advisers seem to have difficulty understanding the rules under which certain individuals are barred from having wages qualify for the Employee Retention Credit,” here’s a summary of key portions of those rules.
• Avalara (https://www.avalara.com/us/en/blog.html): Economic nexus laws are leaping borders, real money is pouring into the virtual world and sales tax holidays are “causing consternation.” What you need to know about recent sales tax changes coast to coast.
• Taxjar (http://blog.taxjar.com/): American tourists buying in Europe can sometimes get a refund on VAT. Do American states do the same thing with their sales taxes? Three guesses, but here’s an in-depth look at why.
• Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): The 2021 Federal Tax Procedure editions are now available for download.
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): A recent lesson from the Tax Court shows how a trailer can in fact be a union electrician’s tax home.

Gig news

• National Association of Tax Professionals (https://blog.natptax.com/): This week’s “You Make the Call” looks at a client who used Kickstarter to set up crowdfunding to start a new business. Are those funds taxable income?
• Tax Vox (https://www.taxpolicycenter.org/): Favorite opening of the week: “You don’t have to be a mechanic to drive a car and you shouldn’t have to be a financial expert to prepare for a secure and adequate retirement.” How can the retirement system help more people afford this stage of life?
• Tax Warriors (https://www.taxwarriors.com/): Roth IRAs can also be a beneficial tool for boomers in a big way.
• Turbotax (https://blog.turbotax.intuit.com): Five other tips to help them save for retirement.
• AICPA Insights (https://future.aicpa.org/blog): The gig economy includes more independent finance professionals. What is the gig economy and what does it mean for the accounting profession?

Change in the air

• Summing It Up (http://blog.freedmaxick.com/summing-it-up): Is there any difference between a disaster-recovery plan and a business-continuity plan?
• TaxMama (http://taxmama.com): What to tell them if they still await that federal refund.
• Boyum & Barenscheer (https://myboyum.com/blog/): Five ways to help nonprofit clients prepare for an audit.
• Rubin on Tax (http://rubinontax.floridatax.com/): Florida tweaks its famous homestead exemption.
• Don’t Mess with Taxes (http://dontmesswithtaxes.typepad.com/): Crypto creep begins, as so far just this year the IRS has seized $1.2 billion in virtual currencies.
• Gordon Law (https://gordonlawltd.com/blog/): The exchange Binance updated its daily withdrawal limit to comply with increased crypto regulations. A look at the news and its implications.
• Surgent Income Tax School (http://www.theincometaxschool.com/blog/): Someone you know may find themselves looking for a new career. Here are some signs that they might be ready for a change — and how tax prep might be just the ticket.
• Eide Bailly (https://www.eidebailly.com/taxblog): All the news on the tortoise pace of the infrastructure bill, including what looks likely and unlikely and who’s arguing about what.

The envy of all

• Strategic Advisors (https://strategicadvisor.liveplan.com/): A company’s homepage is an entryway to all of business offerings, a digital doorway to your firm and your clients’ businesses. How can you get the most out of it? (Tip one: “Tell the story of your customers, not your own…”)
• Taxbuzz (https://www.taxbuzz.com/blog): In this week’s TaxTwitter, pros discuss their tax workflows, favorite processes and thoughts on improving the client experience.
• Canopy (https://www.canopytax.com/blog): Everybody knows you’ve got the employees, skills and clients to run a great accounting practice. But even the best team fails to operate at its fullest potential if the right systems aren’t in place. Eight components of a well-managed accounting firm.
• Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): Dan’s the Man Dept.: Plentiful jobs coupled with disenchantment with careers and lives: Accountants may not be job-hoppers but millennials in the profession changed that. The blogger refers you to a recent Accounting Today piece where the editor “addresses the issue in a way that only Dan Hood can.”

New to us

• HBK (https://hbkcpa.com/insights/): Top 100 Firm Hill, Barth & King’s services span tax, accounting, audit, business advisory, valuation, financial planning and wealth management, among others. Their Insights blog covers all these topics, with recent entries including key changes to state residency audits, Ohio’s new budget and 1031s, among many other topics. Welcome!