The Enrolled Agent credential is often overshadowed by its well-known counterpart: The CPA. In fact, type “EA” in your search engine and you’ll find nothing but articles about video game developers, which isn’t exactly what we’re going for. However, despite it being more cryptic, the Enrolled Agent credential is a great option for any tax […]
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7 simple tips for self-care during busy tax season
I know, I know. You have zero time for anything during busy season. You’re spread thin, and are being pulled left, right, and center. But just because you’re spending more time than ever in the office doesn’t mean that you can completely forget to look after yourself before you help others. Here are seven ways […]
Looking for a New Career? Become an Enrolled Agent Today
We know that this year has been tough on a lot of us, and many of us are now facing pretty major life changes — whether that’s working remote, socially distancing, or, for some of us, looking for a career change. Starting down a brand new career path can be scary, we know — especially […]
Our Top Blog Posts of 2019
2019 is coming to an end, and those interested in obtaining credentials have been busy on our blog this year. Here are the top five blog posts being read in 2019. 6 Time Management Tips for Studying for the CMA Exam We know that everyone’s goal for the CMA Exam is to pass it as […]
Getting Ready for the New World of Peer Review
From those whose firms have recently gone through a peer review as part of the AICPA’s Peer Review Program (PRP), the feedback is consistent. Things have changed. While the underlying requirements of the PRP are the same, a review of a sample of an accounting firm’s engagement workpapers in order to assure compliance with applicable […]
Three Great Reasons to Join a Professional Association
I’m recently returned from a West coast trip—to the IRS Nationwide Tax Forum, to be more precise—where I had the opportunity to meet dozens of tax professionals, and to reconnect with many others who happen to be members of the association I have the privilege to lead. These events are opportunities to broadcast your value […]
Independent Contractor vs. Employee: The Tax Difference
Since the introduction of virtual marketplace companies (VMC’s) like Uber, there has been some confusion about what is means to be an independent contractor vs. an employee. The important distinctions between these two worker classifications can seriously affect a worker’s wages and what taxes are paid by the worker or by the business. Get to […]
IRS Offers Safe Harbor to Claim Rental Real Estate as QBI Deduction
The IRS issued Revenue Procedure 2019-38 on September 24th, 2019, finalizing a safe harbor under Section 199A for rental real estate owners to claim a qualified business income deduction of up to 20%. Defining “Rental Real Estate Enterprise” For the real estate business to qualify for the safe harbor, it must meet the definition of […]
IRS Finalizes New Bonus Depreciation Regulations
The IRS finalized a new law for depreciation under the Tax Cuts and Jobs Act (TCJA), allowing businesses to immediately expense more qualified property. The final regulations put into effect the August 2018 proposed regulations but include some modifications. The final regulations include expensing of section 179 property, an increase in bonus depreciation from 50% […]