Practice Management

It’s important to get an up-close look at a client’s business in order to save it.

Despite their high payouts, international stocks and funds can come with big tax bills, but there are ways to offset those hefty levies.

Large partnerships, including private-equity firms and hedge funds, are often so complex that the U.S. Internal Revenue Service can’t audit them effectively, the Government Accountability Office found.

Congress made some moves this week in working on tax extenders, even though it is not expected to pass any legislation until after the midterm elections.

The Fifth Circuit rejected both the Internal Revenue Service and the Tax Court’s valuation of art contained in an estate, finding an estate’s valuation to be supported by the evidence.

Maintaining healthy client relationships is important for CPAs, particularly when their tax clients need some help with their tax planning that may require outside expertise.

Taxpayers are expected to receive a modest amount of tax relief in 2015, thanks to the annual inflation adjustments provided under the Tax Code.

Last year marked the third consecutive year of increases in CPA firm revenue since the recession, with firms posting a 6.7 percent revenue increase, up from 5.4 percent in the previous year, according to the latest results from the Rosenberg Survey.

Rep. Mark Pocan, D-Wis., has introduced a bill that would help low-income married couples deduct twice as much of the interest charged on their student loan debts.

The Internal Revenue Service is being urged to improve its efficiency in auditing the growing number of large partnerships, in a new government report.