Practice management

New tax elections provide additional flexibility and benefits

Milligan & Co. offers a model for the firm of the future

Nonprofit clients will need more help going forward

A roundup of tax news from the previous month.

The new commissioner stands up for the agency

Three firms showcase how they are becoming more social

The Internal Revenue Service began accepting individual tax returns on Friday.

Business strategy means a lot to firms nowadays. Growth from new clients is stagnant at best at many firms these days. Your main initiative is to fend off the constant raiding of your customer base by smaller firms offering lower prices, or larger firms soliciting your partner base to join them and bring their clients with them.

The IRS has selected six new members for its Internal Revenue Service Advisory Council and seven new members for its Information Reporting Program Advisory Committee.

Highlights of some of our favorite tax-related blogs from the past week.

Since the economic crash some CPA firms have managed to double in size, increase their customer base and open new offices by utilizing data to understand their customers’ needs and adopting new technologies to create innovative offerings.

President Obama introduced a new retirement savings vehicle that he called a “MyRA” in his State of the Union address on Tuesday evening, and the White House has followed up with more details on Wednesday about it.

Rep. Lloyd Doggett, D-Texas, has introduced legislation to limit tax write-offs for executive bonuses to $1 million per employee.

While President Obama mentioned taxes a number of times in his State of the Union speech last night, the details were scant.

The Internal Revenue Service has generally been able to identify potentially improper claims for Small Business Health Care Tax Credits by tax-exempt organizations and subject them to further review, but improvements are still needed to ensure the claims are being caught in time, according to a new government report.

Track1099 has added several new forms to its 1099-MISC e-filing and e-delivery product, and released a new mobile app.

President Barack Obama proposed a series of actions to deal with economic issues ranging from the minimum wage to tax reform and student loan debt during his State of the Union address on Tuesday evening.

PricewaterhouseCoopers is anticipating that Super Bowl XLVIII will generate over $210 million in direct spending in the New York and New Jersey area, though the revenue generated by the Super Bowl and other pro football activities is leading some to question the NFL’s nonprofit, tax-exempt status.

One time, one of my clients had a very large equipment term loan from a bank and was in danger of being put out of business because the company had blown an essential loan covenant.

The Ending Subsidies for Yachts Act, barring the tax deduction for new mortgages on boats, is pushed by two Democrats in the Republican-led House, Representatives Mike Quigley of Illinois and Tim Walz of Minnesota.