Mandated auditing of public companies is supposed to include evaluation of internal controls in most cases. However, the Sarbanes-Oxley Act exempts auditors of smaller enterprises from checking intern
As more people in the boomer generation reach their golden years, a rising number of instances exist where aging parents move in with their adult children. This triggers several tax considerations for
No matter what level of financial sophistication a group of individuals possesses, a large number of them lack sound knowledge of tax matters. Experienced tax professionals have become desensitized to
Evidence suggests that the proportional share of taxpayers who file their own returns with the IRS may have peaked. Even the allure of access to tax professionals for do-it-yourselfers using Intuit’
During a career in accounting, you soon discover that the only way to learn is by asking questions. The same principle applies to study for CPA exam success. Making inquires of experts is the optimal
With the busy period of tax season now ended, Enrolled Agents shift their attention toward several new directions. Some work surrounds finishing tax returns with extended due dates. Additional time of
Implementation of federal income tax reform appears stalled by the basic concept of filing status. The five filing status options have a vital impact on various tax calculations. Tax practitioners qui
The easiest way an Enrolled Agent can summarize for a taxpayer what expenses are tax-deductible is to point out that they usually bear some relation to receiving income. Most tax deductions described
People outside the accounting industry have difficulty realizing that accountants actually engage in debate over the correct procedures for recording financial transactions. No accounting steps are po
When the IRS announces extended deadlines for certain groups of individuals to file tax returns, it raises consideration about the normal tax filing date. For example, all individual taxpayers who liv
