Comparing your fees; auditing climate goals; new marketing blog; and other highlights from our favorite tax bloggers.
Question marks
- Gordon Law (
https://gordonlawltd.com/blog/ ): Could Puerto Rico be the next crypto tax haven? - Taxing Subjects (
https://www.drakesoftware.com/blog ): How do your fees stack up? Results of the latest Drake survey. - Solutions for CPA Firm Leaders (
http://ritakeller.com/blog/ ): There has been a lot of talk about how firms will adjust their workforce model into the future. And what is the future of “Freedom Within a Framework?” - The Tax Times (
https://www.thetaxtimes.com ): Does the 35% penalty for failure to report distributions received from a foreign trust apply to an individual who was both the beneficiary and owner of a foreign trust? - Don’t Mess with Taxes (
http://dontmesswithtaxes.typepad.com/ ): When is a tax whistleblower not a whistleblower, at least as far as getting rewarded for certain information? - Tax Foundation (
https://taxfoundation.org/blog ): The Biden administration recently cited an analysis from Treasury claiming that “the president’s agenda will protect 97% of small-business owners from income tax rate increases.” How spot-on is that claim? - Eide Bailly (
https://www.eidebailly.com/taxblog ): All the news on the many voices who want to be the loudest lawmaking voice in the Democratic Party. - Mauled Again (
http://mauledagain.blogspot.com/ ): There’s a long lesson for our times in the comments section of a recent article on worrying about tax evaders. We: A) Should worry. B) Shouldn’t worry. Or C) “Those who think their supposed rights have no limits fail to understand that in order for their rights to have no limits the rights of others must be limited.”
Around every corner
- Summing It Up (
http://blog.freedmaxick.com/summing-it-up ): What to remind them about the Employee Retention Credit. - Taxjar (
http://blog.taxjar.com/ ): With uncertainty looming around every corner, companies of all sizes have had to reset plans for digital transformation. Too bad “DX” can mean a heap of different things, from ordering a pizza from any device or streaming a movie through Netflix. However you spell DX, at a high level it’s the application of technology to multiple business areas, which alters how companies operate and eventually deliver value to customers. So what does this all mean for sales tax compliance? - Boyum & Barenscheer (
https://myboyum.com/blog/ ): This week’s advice on cyber-protection is real simple: Trust no one. (But what about the people who give us this advice?) - Bloomberg Tax (
https://pro.bloombergtax.com/news-insights/ ): Coming soon: SEC rules for public companies to report the impacts of climate change and progress toward climate goals. Already here and not to be ignored: accounting requirements that capture some details, like the financial effects of a commitment to going carbon-neutral or phasing out energy-sucking machinery and equipment.
Tough decisions
- Palm Beach Accounting and Financial Services (
https://www.pbafs.com/blog ): If a client wants to leave property to heirs — from a year-round home to a vacation property — that client has some estate-planning decisions to make. Here’s what to tell them. - Current Federal Tax Developments (
https://www.currentfederaltaxdevelopments.com/ ): A look at a recent case in which a taxpayer failed to prove that a stock qualified for Sec. 1244 loss treatment. - Sikich (
https://www.sikich.com/insights/ ): At some point in their career, every IT administrator will have to conduct a file migration project, whether migrating file server data to a new server or moving data up to the cloud. As with every project, the client would prefer a clean transition with minimal downtime. Here are a few file-migration options. - Taxbuzz (
https://www.taxbuzz.com/blog ): Remind them that just a math error may be behind their snail’s pace refund. - Surgent Income Tax School (
http://www.theincometaxschool.com/blog/ ): Some excellent steps for starting a prep career.
New to us
- CPA Growth Trends (
https://www.cpagrowthtrends.com/ ): The Association for Accounting Marketing offers this fine ongoing collection of tips, tricks and plain old smarts to keep your firm ahead. Recent topics include reaching prospects, what startups can teach small accounting firms and the very real hard work behind qualifying a lead. Welcome!
