MyIRSRelief

JULY 17, 2023

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. Section 1: The Importance of Tax Planning 1.1. Section 2: Tax Planning for Individuals 2.1.

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MyIRSRelief

DECEMBER 15, 2023

Top 10 Tax Planning Concepts for W-2 Earners As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know.

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Accounting Today

SEPTEMBER 17, 2024

Between the coming sunset of the Tax Cuts and Jobs Act, the presidential election and a host of other factors, this is shaping up to be a tough year for advising clients.

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tax planning Tax 122

Dent Moses

OCTOBER 10, 2024

Dent Moses is committed to keeping you informed of the latest tax-saving strategies. We are sharing our AG-YE_YR Tax Planning Guide-2024_DM. The post 2024 Business Tax Planning Guide appeared first on Dent Moses, LLP. There is no substitute for the guidance of an advisor who understands your specific needs.

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Withum

JULY 24, 2024

Investment and Retirement Planning: Consult with wealth management experts to plan for your financial future. For a detailed checklist to keep on hand, download our Tax Planning Checklist for New Law Firm Partners. Contact Us The post Tax Planning Guidance for Newly Promoted Law Firm Partners appeared first on Withum.

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RogerRossmeisl

JULY 16, 2022

The post Your Estate Plan: Don’t Forget About Income Tax Planning appeared first on Roger Rossmeisl, CPA. Of course, Congress could act to extend the higher amount or institute a new amount. Here are some strategies to consider in light of the current large exemption amount.

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income tax tax planning Tax CPA 190

Nancy McClelland, LLC

AUGUST 22, 2024

Today I’d love to highlight their upcoming session on August 29th: “ Tax Planning for Military Personnel and Spouses “ NATP Instructor Mari Fries, EA, CFP explains that at the core of all military returns is the Servicemember’s Civil Relief Act (SCRA) and in more recent years the Military Spouse Residency Relief Act (MSRRA).

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Accounting Today

OCTOBER 1, 2024

This election season could have a more significant effect on tax policy than most. How can CPAs guide their clients through this potential volatility in tax policy?

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tax planning Tax cpas 113

RogerRossmeisl

SEPTEMBER 25, 2022

For example, you could pull income into 2022 to be taxed at lower rates, and defer deductible expenses until 2023, when they can be claimed to offset higher-taxed income. Here are some other ideas that may help you save tax dollars if.

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CTP

NOVEMBER 15, 2023

That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. But another problem is that the accounting industry is not trained how to LOOK FOR NEW ways to reduce your taxes that you have not yet taken advantage of. Not all tax planning is the same!

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tax planning Tax tax preparation tax return 111

CTP

FEBRUARY 20, 2024

By Dominique Molina, CPA MST CTS You’re in the business of tax planning, and you pride yourself on being the go-to expert for navigating the complex world of taxes. It’s a widespread belief, but it barely scratches the surface of what tax planning can do. So, keep an open mind as you read on.

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Cherry Bekaert

NOVEMBER 29, 2023

Prepare for the 2023 tax season with our comprehensive tax planning checklist for individuals. Expert advice on life changes, investments, IRAs, and estate planning. Contact Us The post 2023 Year-End Tax Planning Checklist for Individuals appeared first on Cherry Bekaert. How will your income change in 2024?

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ThomsonReuters

FEBRUARY 15, 2024

Jump to: Enabling the growth opportunity Tax planning with AI AI presents no shortage of opportunities. In a way, tax and accounting professionals can attain their goals with artificial intelligence. As tax professionals incorporate more AI into their tax planning workflows, they will be able to bring more services in-house.

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CTP

NOVEMBER 2, 2023

What taxpayers may not realize is that the amount of retirement income that goes toward taxes can considerably lower the funds available to sustain the type of life they imagined for themselves. This is where offering your assistance as a Certified Tax Planner can be invaluable.

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CPA Practice

OCTOBER 18, 2024

TaxPlanIQ, a provider of tax planning software for tax and accounting firms, is hosting a one-day free Virtual Summit entitled “Your Playbook for Building a Tax Planning Empire” next week. This online-only event will take place from 11 a.m. Free registration is available until Oct.

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Accounting Today

APRIL 15, 2024

The International Ethics Standards Board for Accountants has unveiled a set of ethical standards for business tax planning in response to complaints over tax avoidance by multinational companies.

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CTP

NOVEMBER 16, 2022

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. And according to the same research firm, the use of AI in the accounting and tax industry will likely grow more than 50 percent by the year 2030.

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CTP

NOVEMBER 9, 2023

However, if they begin the strategy earlier, they may be able to lock in a 22% tax bracket or lower, since they have more control over which buckets they are drawing from and when. For ongoing training on the most timely strategies for retirement tax planning, register with us to become a Certified Tax Planner today.

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Insightful Accountant

MAY 29, 2024

HSAs offer triple tax benefits: pretax contributions, untaxed earnings, and penalty-free withdrawals for medical expenses. Tax pros should be cautious of pitfalls in client tax planning with HSAs.

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tax planning Tax 59

CTP

OCTOBER 3, 2022

What if there was a straightforward way to improve profitability and reduce liability for your tax practice? Creating a written tax plan can separate the professionals from the amateurs. Anyone can come up with an idea and call it a tax plan. Will your client actually implement the plan and realize the savings?

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CTP

NOVEMBER 16, 2023

The American Institute of Certified Tax Planners (AICTP) offers a full-service solution to developing CAS in your firm focusing on the specialization of tax planning. AICTP provides a true roadmap for shifting your business model to support advisory centered client relationships through tax planning and value pricing.

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CTP

AUGUST 11, 2022

Have you asked yourself, do I really have to study tax planning? If you’ve read my articles about tax planning before, no doubt you’ve read my description of tax planning software as an instrumental tool. The same is true for tax planning software! By Dominique Molina, CPA MST CTS.

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CPA Practice

DECEMBER 10, 2023

Tax preparation has its spotlight, tax planning follows a rhythmic beat … and tax advisory ? While we’ve used terms like tax planning and tax advisory interchangeably because they feel similar, they are quite different—like fall and winter. Proactivity Tax planning is proactive.

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ThomsonReuters

JANUARY 4, 2024

But where do you begin building your tax planning strategy? Tax planning strategy #1: Utilize short-term staffing solutions As tax season begins, firms in need of a short-term boost in headcount should consider outsourcing services to increase workload capacity.

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GrowthForceBlog

NOVEMBER 30, 2023

7 min read No matter the size of your company, tax planning can be a major headache because the process can be complex and stressful.

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CPA Practice

SEPTEMBER 19, 2023

The business owners wished to make a contribution to utilize the type of tax planning referred to above, but only if the sale of the company actually closed or was completed. In correspondence with the tax attorney, the brothers indicated that they wanted to “wait as long as possible to pull the trigger” on the contributor.

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Withum

NOVEMBER 17, 2022

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). million in 2023).

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CTP

JUNE 21, 2024

An experienced tax planner will tell you that you can put together the best techniques, angles, and methods for creating a tax plan, but none of it will matter without implementation. Step 2: Create a Plan for Implementation. Once you have collected all the information you need, you can form a cohesive tax plan.

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CTP

SEPTEMBER 16, 2022

To dive deeper into the details, see our recent Think Outside the Tax Box article on tax planning with HSAs. Example #1: Indira was curious about how the amount she contributed to her IRA would affect her tax savings. To find a Certified Tax Planner near you, click here. EXAMPLES: REDUCING AGI.

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tax planning Tax tax return Education 98

RogerRossmeisl

OCTOBER 28, 2020

Plan gifts that use the annual gift tax exclusion One of the benefits of using the gift tax annual exclusion to make transfers. The post Income Tax Planning as Part of Your Estate Plan appeared first on Roger Rossmeisl, CPA. Here are some strategies to consider.

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CTP

JULY 16, 2024

Having a system in place for promptly and clearly documenting your advice and the details of your tax plans is essential for a number of reasons: Managing Risk and Liabilities. Even tax planners may find the constant shifts in tax policy and the long lists of nuances and exceptions for each law confusing.

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Withum

DECEMBER 11, 2023

Upon viewing, you will be able to: Understand recent updates to state and federal tax laws Prepare for open possibilities in the political landscape to come Begin their tax planning process with a knowledgeable background on significant considerations The post On-Demand Webinar: 2023 Year-End Tax Planning for Law Firms and Attorneys appeared first (..)

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tax planning Tax 98

CTP

JANUARY 9, 2023

If you are focused on learning, it could be how many classes you’re taking or how many hours per week you spend on developing your tax planning abilities. Another universally valuable number is how many tax plans you completed this month.

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CTP

JANUARY 9, 2023

Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. The post <strong>How to Increase Efficiency in Your Tax Planning Business</strong> appeared first on Certified Tax Coach.

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tax planning Tax tax preparation tax return 97

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year.

Real Estate 109

Real Estate tax planning Construction Tax 109

CTP

OCTOBER 17, 2022

Let’s look at an example: A tax planning business needed a way for customers to call in, get basic information, and connect with the right person who could finalize the sale. The post How to Increase Efficiency in Your Tax Planning Business appeared first on Certified Tax Coach. Build Out Your Systems.

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CPA Practice

NOVEMBER 27, 2023

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems.

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