Tax planning

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

Whether you’re at a Big Four firm, a regional firm or a sole practitioner, you have the potential to be a rainmaker.

Have you discovered the latest and greatest tax planning strategy? Before suggesting it to clients, consider the ever-persistent loophole cycle.

The vision is the same for how the agency hopes to interact with taxpayers, but the name is going away.

More and more consumers today are looking for one firm to manage both their tax and financial planning, which is why a growing number of CPAs are bringing financial advice in-house.

If you want to see what's coming in tax, look to Europe and South America -- Avalara's Richard Asquith offers a tour of the growing integration between businesses and tax authorities.

14 steps clients and practitioners should look to improve in 2019.

Americans are divided over whether U.S. college endowments should have to pay a new federal tax, according to a national survey on higher education.

John Karaffa of ProSport CPA shares the ins and outs of tax planning for professional athletes.

House Ways and Means Committee chairman Kevin Brady, R-Texas, plans to introduce legislation next week to make permanent the individual and small business tax breaks from the Tax Cuts and Jobs Act.

Now is a critical time for CPAs to consider enhancing and diversifying their service offerings.

House GOP leaders are forging ahead with a vote on a second phase of tax cuts this month, despite dissension from Republicans in high-tax states who say the measure would hurt their voters.

Economists question how much the change would juice the economy, especially if the president tries to do it without Congress.

The Queen of Soul is a case study in the dangers of poor financial planning.

The Internal Revenue Service updated the information on its website about the Tax Cuts and Jobs Act to help taxpayers and practitioners better understand tax reform.

A backlash against the app stores of Apple Inc. and Google is gaining steam, with a growing number of companies saying the tech giants are collecting too high a tax for connecting consumers to developers’ wares.

Today, there are about 100 single family offices in Russia and as many as 20 multi-family offices. Such firms typically tend to investments, taxes, estate planning and even personal needs such as travel and education.

Private wealth managers and accountants are advising their ultra-rich clients to deal with the topic of their own mortality.

As we enter into the tax planning stage of the year, the focus shifts to helping clients understand the impact of the Tax Cuts and Jobs Act and optimize their tax positions.

The Internal Revenue Service provided some long-awaited answers for business owners hoping to dodge the limits on a juicy new tax break.