article thumbnail

In the blogs: Answer unclear; ask again later

Accounting Today

Trout CPA ( [link] ): Handy rundown of current tax law versus OBBBA. Commissioner provides a stark reminder of the record-keeping required to preserve these deductions. Tell clients "almost." The Tax Times ( [link] ): What reform means for GILTI and U.S. corporate taxpayers. The recent Tax Court opinion in John Henry Besaw v.

article thumbnail

A Clear & Simple Accounting or Bookkeeping Engagement Letter [Template]

Jetpack Workflow

Other examples of responsibilities which should be defined include gathering statements, interacting with the client’s CPA, and handling financial matters. Answering questions regarding accounting posed by your CPA or tax preparer. Our work consists of recording keeping, and we do not provide any auditing or fraud detection.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Must Avoid Errors in Costly Tax Return Preparation

CapActix

Moreover, if you are a CPA or an accountant working for clients and preparing taxes for them, then you better not wait till the last moment. You must keep moving the needle as a professional tax return preparer. Tax return preparation is often pushed till the last minute. This creates stress and mistakes.

Tax
article thumbnail

Can You File Federal Taxes Without Filing State? 

Nolan Accounting Center

Find a tax agent with a CPA or professional tax accounting credentials. Make sure the service you choose offers a good record-keeping system, tax form preparation, representation in dealing with the IRS, and good information and advice. Understand their availability, their services, how they handle problems, and their fees.

Tax
article thumbnail

How Real Estate Accounting Firms Help Investors Stay Tax Compliant

CapActix

They will keep you on target, find the properties that can be used, and structure the payment to the IRS. The CPA comes in at the end of the year to look at the complete books of accounts, design long-term tax plans, and file appropriate tax returns. Hence, they facilitate the 1031 exchange in one’s favor.

Tax
article thumbnail

Professional Bookkeeping Services vs. In-House Bookkeeping: A Guide to Choosing the Profitable Solution

CapActix

As a result, they are not bogged down by financial record-keeping tasks. In fact, more and more enterprises and CPA firms have started replacing their in-house bookkeeping team with professional bookkeeping services. Also Read: Why CPA Firm Should Outsource Bookkeeping Services What Is In-House Bookkeeping?

article thumbnail

How Small Business Tax Preparation Services Save Time and Cut Costs

CapActix

✔ Accurate Record Keeping and Automation The majority of the services employ accounting and tax systems that carry out repetitive tasks automatically. You must check for certifications such as CPA, EA, or tax law background. Automation helps with small business tax preparation with work being done right and on time.

Tax