Practice management

A New Jersey Tax Court judge has sided with a couple who won $46 million in the state lottery in 2000 and elected to have their winnings distributed in annual installments as a multiyear annuity payment, holding that the state did not have the right to retroactively tax their winnings after passing a new statute.

Thomson Reuters has introduced Thomson Reuters Checkpoint Marketing for Firms Social Media Infographics and Fun Facts, with visuals that tax and accounting professionals can use on social media every week.

Joel Sinkin of Transition Advisors discusses in this video how the retention period can be a key factor when buying or selling an accounting firm.

How do you gain the trust of your current and prospective clients, as well as colleagues, subordinates and others with whom you do business or want to do business?

In the wake of Hurricane Matthew, the Internal Revenue Service has released new rules and procedures for deducting disaster losses.

The Internal Revenue Service allowed over $27.2 million in potentially wrong tax refunds or tax credits to 1,938 taxpayers who made so-called “frivolous tax arguments,” according to a new report.

Facebook Inc. is carrying on its fight with the U.S. Internal Revenue Service over taxes relating to its transfer of global operations to Ireland in 2010.

The IRS is sending due diligence letters to paid preparers who may be noncompliant in meeting their Earned Income Tax Credit due-diligence requirements.

Hillary Clinton’s proposed tax increases on people with high incomes and on businesses would constrain economic growth, according to a policy group’s analysis.

“Why should I give free advice?” That’s a question we sometimes hear when we advise clients to blog, answer questions in public forums and generally offer professional insight to their audiences.

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

The Internal Revenue Service is giving victims of Hurricane Matthew in North Carolina extra time to file their tax returns and make tax payments.

Every year Accounting Today publishes the results of their survey that identifies the “Best Firms to Work For.” Since I have been out of the daily management of an accounting firm for a few years, I was curious to learn what new and innovative policies the leading firms today are embracing that puts them in the rankings as a great place to work.

President Obama has signed legislation exempting Olympic and Paralympic athletes from taxes on their medals and winnings.

Democratic presidential nominee Hillary Clinton is proposing to revamp and expand the child tax credit to provide more benefits for low-income families and for eligible families with children age 4 and under.

Warren Buffett just fact checked Donald Trump.

A new IRS test program doubles the dollar limit for people to more easily set up payment plans for their tax debt.

A roundup of our favorite recent tax fraud cases.

Joel Sinkin of Transition Advisors explains in this video why valuations of accounting firms that are being bought and sold are on the decline.

Imagine a partner announces their retirement and your firm buys out the equity stake. Five years later, the partner is still working with and controlling the same client relationships as always. Worse yet, the “retired” partner is getting more and more difficult to work with every day but has been fully paid. What do you do?