What in the World Is Design Thinking for a Tax Firm?
I am sure all of you have heard the term “design thinking” – and probably tossed it aside since design thinking could not possibly relate to tax firms, but you would be wrong. Allow me to start at the beginning by defining design thinking, and then offe... Brandy Jordan
S Corporations Rules & Strategies
Formation and Requirements A corporation is created under state law and elects S corporation status by timely filing Form 2553, Election by a Small Business Corporation. The requirements under most state laws are that the taxpayer files articles of incorporation, obtain an employe... Anita Robinson, EA
Strategies for Avoiding CP2000 Notices
Let’s start at the beginning. What is a CP2000 Notice, and when is it generated? Here’s what happens. The IRS Automated Underreporter Unit (AUR) matches income reported on individual tax returns with the income that is reported to the IRS from various third parties (e.g., employers, financial institutions, and banks) and recorded in its wage and income transcript file. If there is a difference, the IRS “flags” the tax ... Bill Nemeth, EA