Retention, pricing; the cost of losing incentives; AI as biz advisor; and other highlights from our favorite tax bloggers.
Game plans
- The Rosenberg Associates (
https://rosenbergassoc.com/blog/ ): Results from the recent survey on staff retention, including average turnover and staffers' most common reasons for hitting the silk. - National Association of Tax Professionals (
https://blog.natptax.com/ ): You don't want to send anybody out the door, but you want what you're worth. Your margins evaporate amid all the work, and you struggle to answer, "How much do you charge?" Four out of five firms have trouble finding a "fair" price for a client. A new template might help. - Armanino (
https://www.armanino.com/articles/ ): The pro athlete's game plan for planning for money. - Turbotax (
https://blog.turbotax.intuit.com ): What the above also need to know about "Name, Image, Likeness" payments and taxes. - Virginia – US Tax Talk (
https://us-tax.org/about-this-us-tax-blog/ ): What can nonresidents overseas do to avoid the U.S. gift tax when giving to folks in the U.S.A.? - Tax Vox (
https://www.taxpolicycenter.org/ ): House Republicans have passed legislation that would rescind many IRA clean-energy tax incentives in exchange for a temporary increase in the federal debt limit. A new Tax Policy Center analysis finds what effect repealing those breaks would have on after-tax incomes in 2024.
Technical terms
- HBK (
https://hbkcpa.com/insights/ ): Wondering if ChatGPT could provide insight for a client facing a complicated financial issue, the blogger asked AI what it could do for an owner planning to exit their business. How the bot replied. - Canopy (
https://www.getcanopy.com/blog ): Three reasons you need a client portal and six things you should have on it. - Tax Foundation (
https://taxfoundation.org/blog ): As Minnesota lawmakers mull making theirs the first state to mandate worldwide combined reporting, they're relying on a revenue estimate that is — and "this may not be the technical term" — completely bogus. - Taxbuzz (
https://www.taxbuzz.com/blog ): Recently released IRS data confirms that New York State lost $25 billion in adjusted gross income in 2021 plus $20 billion in losses in 2020. California lost $29 billion in 2021 and $18 billion in 2020. The primary reason? - Avalara (
https://www.avalara.com/blog/en/north-america.html ): When do clients who have a home-based business need to register with the secretary of state? - Taxing Subjects (
https://www.drakesoftware.com/blog ): Time's running out for securing unclaimed 2019 refunds. - National Taxpayer Advocate (
https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/ ): Fav headline of the week: "Refund Statutes and the Lookback Rule Make Taxpayer and Tax Professionals' Eyes Glaze Over."
Going my Wayfair?
- Sovos (
https://sovos.com/blog/ ): Back Where It All Began Dept.: South Dakota, ignition state of the Supreme Court's decision five years ago, has another sales tax change coming July 1. - Taxjar (
https://www.taxjar.com/resources/blog ): Economic nexus in Nebraska. - Peisner Johnson
https://peisnerjohnson.com/blog/ ): Six pillars on which to rest clients' sales tax compliance. - TaxConnex (
https://www.taxconnex.com/blog- ): Can your e-commerce clients charge sales tax based on an IP address?
