What to alter; money circulate forecasting; the gross sales tax paradox; and different highlights from our favourite tax bloggers.
Excessive anxieties
- Procedurally Taxing (https://procedurallytaxing.com): Is momentum lastly constructing for the IRS to supply taxpayers with free on-line submitting choices?
- EideBailly (https://www.eidebailly.com/taxblog): This information roundup seems at how the latest document tax income haul for the feds hasn’t been trouble-free.
- Tax Professional Heart (https://proconnect.intuit.com/taxprocenter/): Coaching, automation, the shorter workweek: What would you most like to alter about your follow?
- Tax Vox (https://www.taxpolicycenter.org/): Beneath present legislation, the Social Safety and Medicare belief funds that pay out advantages to retirees will quickly go bancrupt, triggering giant necessary cuts. In the meantime, the hole between scheduled advantages and taxes paid to cowl the price of these applications continues to develop. Each elected official is aware of this. Easy methods to convey these three details collectively is the following piece of the puzzle.
- Summing It Up (http://weblog.freedmaxick.com/summing-it-up): What to remind enterprise shoppers in regards to the significance of money circulate forecasting because the rocky highway goes on and on.
- Mauled Once more (https://mauledagain.blogspot.com): Divide and Conquered Dep’t.: The Crimson and the Blue and the SALT deduction.
- Boyum & Barenscheer (https://www.myboyum.com/weblog/): A take a look at the latest CP2100 and CP2100A notices, that are despatched twice a 12 months to payers who filed data returns which can be lacking a TIN, have an incorrect identify or have a mixture of each.
- Rosenberg Associates (https://rosenbergassoc.com/weblog/): Favourite opening of the week: “This text could also be very troublesome for companions over 55 years of age. It might set off excessive ranges of tension and even tears.” Might be, as necessary retirement and succession planning has performed that to lots of people.
- Options for CPA Agency Leaders (http://ritakeller.com/weblog/): Doing it proper the primary time makes checking an entire lot simpler.
- Parametric (https://www.parametricportfolio.com/weblog): Will limitless market volatility mix with increased charges to supply extra tax losses to reap?
The employees of life
- Cover (https://www.getcanopy.com/weblog): The primary piece of the puzzle in answering the Nice Resignation appears apparent. The opposite items don’t.
- Nationwide Affiliation of Tax Professionals (https://weblog.natptax.com/): This week’s “You Make the Name” seems at Ronnie, who through the Nice Resignation acquired a $10,000 retention bonus from her present employer as an incentive to remain. If Ronnie leaves earlier than the top of two years following receipt of the bonus, it have to be repaid. After a 12 months, Ronnie is seeking to change jobs once more. She involves you to debate the tax penalties of repaying the retention bonus. What do you inform her?
- CPA Development Developments (https://www.cpagrowthtrends.com/): At the same time as companies battle to seek out employees and professionals really feel overworked or overwhelmed, enterprise improvement stays a must-do. How can rainmakers free time for this amid competing priorities?
- Taxing Topics (https://www.drakesoftware.com/weblog): With a watch (already) to subsequent season, now could be the time to assist your biz shoppers qualify for deductions — a few of that are widespread and a few of that are vanishing.
Slogging it out
- TaxConnex (https://www.taxconnex.com/blog-): 5 widespread goofs that may put your remote-selling shoppers in danger for non-compliance over gross sales tax.
- Henry+Horne (https://www.hhcpa.com/blogs/): What to remind them about tax troubles if inheriting an IRA.
- HBK (https://hbkcpa.com/insights/): New York lawmakers have responded to the requests of taxpayers and tax practitioners for an extension to make the most of the SALT cap workaround for tax 12 months 2022, extending the election date deadline till this Sept. 15 and addressing estimated funds associated to PTET.
- TaxMama (http://taxmama.com): It’s higher to offer than to obtain — besides perhaps, in fact, in the case of taxes.
- Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): In United States v. Toth, the courtroom affirmed the district courtroom’s grant of abstract judgment which had imposed a willful willpower as a discovery sanction. The blogger, who finds the opinion “a little bit of a slog,” focuses right here on the elements of the opinion that he discovered fascinating.
- Taxjar (https://www.taxjar.com/sources/weblog): What to inform your shoppers gross sales tax-wise about promoting into Canada.
- Tax Basis (https://taxfoundation.org/weblog): Gross sales taxes account for nearly a 3rd of the common state’s tax income, however most gross sales taxes are imposed on slim (and still-narrowing) bases. Simply one of many fascinating nuggets within the basis’s “State Gross sales Tax Breadth and Reliance, Fiscal Yr 2021.”
