Reform speeches; nurturing the best clients; using KPIs; write for Forbes; and other highlights from our favorite tax bloggers.
- Dinesen Tax (http://dinesentax.com/blog): Every union needs freshening up now and then: a new look at the history of the marriage in the Tax Code.
- Liberty Tax Blog (https://www.libertytax.com/tax-lounge/): Amid the resumes and naps and efforts to keep the spirit buoyed, job hunters frequently forget a key part of tax life: withholding taxes from their unemployment.
- Don’t Mess With Taxes (http://dontmesswithtaxes.typepad.com/): In honor of the holiday just passed, a look at who gets the day off and who gets to labor.
- Taxjar (http://blog.taxjar.com/): When your client might need to register for a sales tax license.
- H&R Block (http://blogs.hrblock.com/): A look at the new IRS process for ITIN renewal, refreshed with the newest info.
- Musings of a Burbank CPA (http://briantstonercpa.com/blog/#sthash.OkfGp9NM.dpbs): A reminder that S corporation and partnership extensions expire on Sept. 15 and that C corp extensions now expire this year on Oct. 16, the same as personal extensions.
- AG Tax (http://agtax.ca/tax-tips-and-articles): Applying for a Social Security number from a foreign country.
On the stump
- Tax Policy (http://taxfoundation.org/blog): Notes on the president’s recent tax policy speech in Missouri. Let’s start with, “While the speech was short on detail, the broad objectives outlined by the president provide a good starting point for thinking about what a potential tax reform could look like.”
- Rubin on Tax (http://rubinontax.floridatax.com): The hints Trump dropped regarding reform, including his call for a 15 percent business tax rate and ways to bring back non-U.S. profits on a more favorable basis.
- Tax Vox (http://taxvox.taxpolicycenter.org): It’s tempting to use taxes to curtail the efforts of what most view to be a disruptive group to society. But consider how “those with whom we agree should be treated differently under the tax laws than those whose views conflict with or even offend the majority” marks a potential slippery slope of a political litmus test for the Tax Code.
- Sageworks (https://www.sageworks.com/blog/default.aspx): Dancing With the One What Brung Ya Dept: Retaining and building loyalty with the right clients has become even more important in an age when technology can often, partially or even in whole, replace an accounting firm.
- CCH Tax and Accounting (http://news.cchgroup.com/): A look at a new engagement type that could be offered by accounting firms, providing flexibility for selected procedures engagements not currently available in agreed-upon procedures engagements.
- Summing It Up (http://blog.freedmaxick.com/summing-it-up): Third-party providers of cyber-services would do well to examine New York State’s new cybersecurity legislation regarding requirements on financial institutions, insurance agencies and other covered entities.
- Intuit Proconnect (http://taxprocenter.proconnect.intuit.com/): This month’s tax and compliance deadlines.
- Focus (https://sgcpa.com/resources/focus-blog/): From the baseball field to the boardroom, statistical analysis has changed various industries nationwide. What key performance indicators can mean for your practice and firm.
- Bloomberg BNA (http://www.bna.com/news/#!topic=istax&type=isblogpost): As the relentless rain lets up and Texas begins to assess Harvey’s damages, the state comptroller of public accounts has been quick to announce tax relief for corporations.
- Avalara (https://www.avalara.com/blog/): The South Dakota Supreme Court has heard arguments for and against the state’s Remote Seller Compliance Law, which requires out-of-state retailers doing a certain amount of business in the state to collect and remit South Dakota sales and use tax. Note of particular interest: The true intention of the Remote Seller Compliance Law is not to glean more tax revenue but to challenge the physical presence precedent upheld by Quill.
- Mauled Again (http://mauledagain.blogspot.com/): Taxes serve at least two functions. They raise revenue for public projects and other goodies, and sometimes they just keep folks busy. The city council of Broadview Heights, Ohio, for instance, is considering a proposal to raise its hotel tax from 7 percent to 10 percent. Too bad there are no hotels in Broadview Heights.
- Houston Tax Attorney (http://www.irstaxtrouble.com/category/tax-blog/): The recent Acone v. Commissioner addresses whether an airline pilot stationed overseas qualifies for the Sec. 911 foreign income exclusion.
- Due Diligence (http://www.mahanyertl.com/mahanyertl/): In this week’s collection: “Haitian Bribery Schemes & Whistleblower Awards”; “Sinovac Biotech Discloses Possible FCPA Violations”; and “Gerdau Steel – New Whistleblower Reward Opportunity?”
- Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): How intended loss can beat out actual loss when it comes to severity of a sentence for tax and money crimes.
- Tax Girl (http://blogs.forbes.com/kellyphillipserb): Hey bloggers, here’s an invitation to write for Forbes during tax reform week. Not every writer or every comment will make the cut, of course, but the chance for the spotlight might be too good to pass up.
- Solutions for CPA Firm Leaders (http://ritakeller.com/blog/): No pressure, but “every e-mail is an impression of you.” How to make the write impression with this (believe it or not) still relatively new method of business communication.
- John R. Dundon II EA (http://johnrdundon.com/): A blogger who’s “knee-deep in another interesting file under dispute with our esteemed taxing authorities involving at-risk limitations.” First of many intended posts on the topic.
- The Income Tax School (http://www.theincometaxschool.com/blog/): Blogger Chuck McCabe introduces, Guide to Start and Grow Your Successful Tax Business! The 289-page book covers everything from learning prep to establishing your tax office, marketing and pricing, recruiting and training employees, dealing with the IRS and more. Forward by our own Roger Russell of Accounting Today.
If you plan to try and account for revenue recognition (RevRec) under the new accounting standards ASC 605 and ASC 606/IFRS 15 using a spreadsheet, be aware that this is going to introduce more complexity to your financial processes, not less. It’s a significant consideration. Learn more now.