Because we’re CPAs, we get people asking us a lot about when someone can and can’t use TurboTax or a similar product to self-prepare a tax … [Read more...] about Your CPA versus TurboTax
business taxes
Lessons from Liberty Tax Service, Part 2
Last week I posted a pretty glowing review of Liberty Tax Service’s franchise model. In short, I basically fawned over the stuff Liberty does really … [Read more...] about Lessons from Liberty Tax Service, Part 2
Lessons from Liberty Tax Service, Part 1
A few weeks back, I attended a presentation for people interested in becoming Liberty Tax franchisees. A friend was thinking about the franchise, … [Read more...] about Lessons from Liberty Tax Service, Part 1
Blue Collar S Corporations
I watched the CNBC television show, “Blue Collar Millionaires” over the summer. A good show, episodes (rightly) hammer home the point that America … [Read more...] about Blue Collar S Corporations
Why Small Businesses Should Outsource Payroll
Winston Churchill, apparently quoting some unknown earlier writer, once said, “Democracy is the worst form of Government except for all those other … [Read more...] about Why Small Businesses Should Outsource Payroll
Small Business IRS Audits: Minimizing Damage and Distress
Small business IRS audits can turn into a really ugly experience for some business owners, managers and entrepreneurs. But you know what? The … [Read more...] about Small Business IRS Audits: Minimizing Damage and Distress
The Rich Get Poorer: the Myth of Dynastic Wealth
In the recent paper, “The Rich Get Poorer: the Myth of Dynastic Wealth,” Robert D Arnott, William J. Bernstein, and Lillian J Wu analyze the arguments … [Read more...] about The Rich Get Poorer: the Myth of Dynastic Wealth
Form 3115 for a Cash to Accrual Method Accounting Change
Most small businesses use cash-basis accounting for their operations. And that makes sense. First of all, cash-basis accounting makes a firm’s … [Read more...] about Form 3115 for a Cash to Accrual Method Accounting Change
Getting Smart about Past Due Taxes and Tax Returns
One of the biggest tax-related stresses people encounter is the situation where they accumulate several years of past due taxes and tax … [Read more...] about Getting Smart about Past Due Taxes and Tax Returns
Hiring Your Children as a Tax Loophole
Thinking about hiring your children as a tax loophole? Probably because it’s summer, several clients and friends have recently asked me … [Read more...] about Hiring Your Children as a Tax Loophole