Shutdowns and tax obligations; 529 money and the CPA exam; gig questions; and other highlights from our favorite tax bloggers.
Transformations
- Taxable Talk (
http://www.taxabletalk.com/ ): What to remind them about the surprisingly small effect a shutdown can have on tax responsibilities. - AICPA & CIMA Insights (
https://www.aicpa-cima.com/blog ): More people can tap into the benefits of 529s plans since the OBBBA broadened the definition of qualified expenses. What funding has become available for the CPA exam? - Wiss (
https://wiss.com/insights/read/ : Adopting new real estate accounting software should streamline operations, improve financial clarity and save time. But the road to implementation is often riddled with obstacles. Real estate companies can transition more smoothly into using new accounting systems by understanding and conquering everyday challenges. - Withum (
https://www.withum.com/resources/ ): The Cybersecurity Information Sharing Act of 2015 expired two weeks ago. This law previously enabled and protected the voluntary sharing of cyber threat indicators between private entities and the federal government. Key new implications for organizations. - CLA (
https://www.claconnect.com/en/resources?pageNum=0 ): By transforming the opportunity zone program from a temporary tax incentive into a permanent fixture of the Tax Code, the OBBBA launches a new era of place-based investment.
Paper chase
- The Sales Tax People (
https://sales.tax/expert-articles/ ): The red, the blue and the nexus: sales taxes in New York and Texas. - Global Taxes (
https://www.globaltaxes.com/blog.php ): Another look at the federal government saying goodbye to paper checks. - Taxpayer Advocate Service (
https://www.taxpayeradvocate.irs.gov/taxnews-information/blogs-nta/ ): With the vanishing of paper checks from the government toolbox how are vulnerable taxpayers simply left behind? - Mauled Again (
http://mauledagain.blogspot.com/ ): Why do all people 65 or older need a tax-free life? Should millionaires and billionaires 65-plus live tax-free? Of course not. How and why it's not that the person is 65 or older, it's that the person is struggling financially.
Making it easy
- National Association of Tax Professionals (
https://blog.natptax.com/ ): Sorting through short-term rental income rules, you're expected to know whether your client's Airbnb or VRBO earnings belong on Schedule C or Schedule E, and whether self-employment tax kicks in. The IRS doesn't make it easy (why should short-term rental income rules be any different?), but with the right knowledge, you can guide your clients through liabilities. - Tax Pro Center (
https://accountants.intuit.com/taxprocenter/ : Five steps to help accounting, tax and bookkeeping firm owners confidently price and offer premium advisory services. - Meyers Brothers Kalicka (
https://www.mbkcpa.com/insights ): A look at valuation discounts for gift and estate planning.
That's the spirit
- Eide Bailly (
https://www.eidebailly.com/taxblog ): "In the spirit of the October 15 extended return deadline festivities," the blogger would like to clear up some of the most common misconceptions and questions regarding U.S. Transfer Pricing Documentation. - The Tax Times (
https://www.thetaxtimes.com): Yet another real-life lesson in how the IRS can foreclose on a house to settle a tax debt. - Taxing Subjects (
https://www.drakesoftware.com/blog ): What tax pros had better know about gig work. - Taxnotes (
https://www.taxnotes.com/procedurally-taxing ): Nope, Venmo doesn't have to report those gig payments to the IRS yet. A look at the background on why.
