new data obtained by 卡塔尔世界杯常规比赛时间 shows that 84 percent of small-business owners are now paying an independent tax practitioner or accountant to handle their taxes.
in addition, an increasing number of small business taxpayers appear to be taking advantage of sec.179 expensing and bonus depreciation.
the new report available from 卡塔尔世界杯常规比赛时间 includes information on:
the number of small business owners who use an outside tax or accounting service
how many hours per week a small business spends on payroll tax administration
those who know ed mendlowitz, author of the 卡塔尔世界杯常规比赛时间 tax season opportunity guide, know that he doesn’t like extensions. however, there are valid reasons for extensions.
ed grudgingly admits to 12:
you did not receive k-1s or 1099s or other documents with information that you need to report.
you did not receive letters confirming charitable contributions that are required to be in your possession by the due date of your tax return.
there is pending litigation and reporting certain transactions might prejudice your position, or you are awaiting resolution that might cause or affect an adjustment or estimate made for last year. read more →
at this rate, practitioners may be on track to make the april 15 deadline, but just barely. at the same time, the number and proportion of self-prepared returns continues to rise. it has been estimated that between 2010 and 2012 some 12 million taxpayers dropped out of the paid-preparer market to go to do-it-yourself software programs. and that trend is clearly continuing.
in this report: the box score so far this season, compared to year-ago periods. read more →
practitioners should consider how many of these mistakes they might be making right now, from ed mendlowitz, cpa and author of “the tax season opportunity guide.”read more →
the last time tax professionals slogged through a tax season from hell, it was 2008, the financial world was crashing into a million little pieces, and 1 in 4 accountants was reporting disastrous operations.
before that, long-timers might recall 1995, when the irs deployed a filing fraud crackdown that delayed millions of refunds.
chicago cpa jody padar helps clients calculate their carbon footprint.
jody padar, new vision cpa group
in a sign of things to come as consumers turn to socially responsible shopping, one of the profession’s leading changemakers, chicago cpa jody padar, is launching the world’s first online tax return service that helps clients save money on their taxes while showing them how to reduce their carbon footprint and earn green perks.
branded ecotaxfile.com, the service “gives consumers and small businesses a level of confidence in their tax returns that can only come from working with a full-time accounting professional,” says jody padar, cpa, mst, operations director for ecotaxfile.com and one of accounting today’s 100 most influential people in accounting as an advocate for forward-thinking cpas. she practices out of her new vision cpa group in arlington heights, ill.
available for tax filers in the u.s. and canada, ecotaxfile.com offers real-time, personalized consulting from professional tax accountants and provides individuals and small businesses with tools and specific recommendations for cutting their carbon consumption along with special offers and deals for less carbon-intensive activities.
ecotaxfile.com
“we provide direct access to full-time cpas and tax professionals who can help eliminate the stress of tax filing while finding every possible way to maximize your refund or reduce your tax payment,” padar says.
“it’s simple: when you file your taxes with us, we’ll also calculate your carbon footprint,” says ecotaxfile.com founder brad cran. “we then identify areas where you can reduce your impact to live cleaner and save even more money.”
every tax season for the last umpteen years, robert e. mckenzie, a tax lawyer at arnstein & lehr in chicago, has made a tradition of sharing his carefully curated collection of tax jokes. here are a few of his latest. enjoy!
q: how many irs agents does it take to screw in a light bulb?
a: only one, but the light bulb really gets screwed.
— from garrison keillor’s ‘pretty good joke book’
irs motto: “we’re not happy until you’re not happy!”
with tax season 2013 delayed by last-minute code changes, staffing problems and software glitches, the mood of the profession is turning markedly sour.
“irs delays will cause confusion and errors, and many upset clients,” says charles postal at santos postal, a five-partner firm in rockville, md. “more extensions will depress cash flow.”
at the same, postal adds, “clients will have more tax needs, but the struggling economy will depress their ability and desire to pay for services.”
in order to battle the business pressures, postal’s firm is “pushing back on fees, using standardized billing by product rather than hours, and adding on charges for technology, audit and tax notice insurance.”
the top ten tax questions that too often go unasked. ed mendlowitz, 卡塔尔世界杯常规比赛时间 contributor and tax practice veteran, says he sees many professionals fail to systematically ask clients some basic and important questions. here’s his top ten list … continued
in another sign that the profession is pushing through at least some price increases in a highly fee-pressured environment, a new survey reports that professional tax preparers this year will be charging an average of $246, up 6%, for a typical 1040 with a schedule a and a state return. still, the survey finds price pressure for schedule c’s.
the survey shows pricing for the bread-and-butter forms delivered by local independent tax professionals, including:
form 1040 schedule c (business)
form 1065 (partnership)
form 1120 (corporation)
form 1120s (s corporation)
form 1041 (fiduciary)
form 990 (tax exempt)
form 940 (federal unemployment)
schedule d (gains and losses)
schedule e (rental), and
schedule f (farm)
the survey also breaks down pricing patterns by region, and adds data on client payment options.
… and more tax season humor.