Gifts for Clients and Tax Deductions: What you Need to Know

You foster strong relationships with your customers through exceptional service and value. But a thank-you gift never hurts. In addition to the goodwill you earn as a gift-giver, you also earn a small tax deduction from the IRS. A very small tax deduction, which is limited to a maximum of $25 for each client. The […]


Did you know that a windfall refers to a piece of fruit that is blown from a tree? You get all the benefits of a nice snack with none of the climbing or stretching and picking. Most of us know about windfalls in connection with money—that unexpected good fortune that puts a large sum of […]

Prepare for Taxes now, Avoid Stress Later

Right now, the idea of thinking about tax filing season may sound as welcome as the hiss of air leaking from your swimming pool raft. But planning ahead may keep you from getting soaked later. So if you’re considering anything more complex than a standard deduction, this is a good time to take a look […]

Tips for Choosing a Tax Prep Service

The Internal Revenue Service and tax software people lead you to believe that your filing is getting easier and easier. Meanwhile, the tax laws remain dense and complex. The distinction is that the simple and fast way isn’t always the best way. So why should you pay to have someone file your tax return? The […]

QuickBooks for Legal Firms: IOLTA Set Up and Tracking

QuickBooks is a powerful program used by small to mid-sized companies.  It is a program used by many different industries.  QuickBooks usually needs to be tweaked a bit to work with your industry. Attorneys are unique due to the American Bar Association’s specific accounting rules for the use of retainer (IOLTA) accounts. When setting up […]

Health Savings Accounts

Health Savings Accounts are one of my favorite investment vehicles. There are many advantages, as you will see. With most Americans having high-deductible health plans, and not able to take medical deductions on Schedule A (itemized deductions), HSAs are the way to go! A health savings account (HSA) is an account created exclusively for the […]

Why Choose a Tax Professional?

You’re a smart person when it comes to your money. You stay within your budget, you plan for the future, you have an emergency fund for that day when your hot water heater leaves you cold. So why would you pay someone file your tax return? The top reason according to CPA Practice Advisor is that […]

Piercing the Corporate Veil

A key reason that business owners and managers choose to form a corporation or a limited liability company (LLC) is so that they won’t be held personally liable for debts should the business be unable to pay its creditors. But sometimes courts will hold an LLC or corporation’s owners, members, and shareholders personally liable for […]

Enrolled Agents are America’s Tax Experts

Enrolled Agents (EAs) are America’s Tax Experts. EAs are the only federally licensed tax practitioners who specialize in taxation and also have unlimited rights to represent taxpayers before the IRS. Just because a person has the EA license may not make him or her the best choice for your tax purposes. Your decision should be […]

Choosing a Tax Resolution Firm

You shuffle through your mail and there’s a letter from the IRS. Instinctively, you want to treat it like toxic waste — hide it and hope it goes away or hire the first person you find who promises to clean it up. It’s important to get past that first moment of anxiety and think logically. Predatory […]