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
Explaining to parents the tax impact of investment income for their children is sometimes a considerable challenge. A child in certain conditions can need a big advance from the parents for payment of
Taxpayers with major financial changes in their lives are typically encouraged to obtain expert advice about the tax impact of their new circumstances. Few events in a person’s life create as much f
Although professional tax preparers are not required to conduct audits of client records to assure the validity of reported figures, Enrolled Agents have discovered that a quality review check is impo
Consideration of the home office deduction occurs after tackling all the other tax factors related to determination of income and expenses for a small business owner. The first step in this process fo
Substantial tax advantages are bestowed upon individuals donating appreciated capital gain property to charities. They generally get income tax deductions for the full values of the properties without
As the time arrives each year for completion of tax returns, more individuals learn of surprising amounts they owe to the government. Inevitable questions arise about the possibility of paying tax deb
Gathering specific details during Enrolled Agent work is crucial to understanding taxable events. Some situations that individuals typically don’t consider relevant may have substantial tax conseque
Assuming that reasonable people want to place their money in financial arrangements they understand, you might expect they would seek thorough explanations about complex tax consequences from an inves
The highlight of the National Taxpayer Advocate’s recent annual report to Congress is that the US tax code places a “significant, even unconscionable burden” on taxpayers. This news is about as
