[Originally published on Forbes.com] At this point it should not be news to taxpayers that the last two filing seasons have been hard on tax professionals and that this season is not showing any signs of improvement. Still, it’s tax season and taxpayers need to be able to communicate with their tax professionals to ensure… Read More
And not all tax people are interchangeable. This is my Dad’s car. Imagine that this car is having an, as yet unidentified, engine problem. Here’s a short list of items that make this car special: It’s old It’s foreign (specifically German as opposed to Japanese) It’s considered a “performance” or “sports” car It was… Read More
A couple of weeks ago I was talking with some colleagues about being forced to watch videos to learn features available in new software and just how much I didn’t like that. The videos are slow. I can read faster than that and I comprehend better as well. Usually, I’m going to want to read… Read More
The two most beautiful words I heard on #TaxTwitter this weekend were “seller’s market.” What does that mean? It means that good #taxpros are in demand. Good #taxpros. I’m seeing loads of newbies on FaceBook who have passed a test or taken a few classes and decided to open a tax practice asking for advice… Read More
That’s me in super sneaky spy mode. At the end of the day yesterday I was mailing some paperwork to a couple of clients (yes, we still do that here, especially for clients with limited internet access). I had to create mailing labels for the envelopes. We have a dedicated label printer to help with… Read More
This post is based on actual conversations that have occurred in the Tax Therapy office. Mid-March 2019. The phone rings and I answer it. Me: Tax Therapy, this is Amber. Caller: Hi, yes, I was wondering if you could do my taxes? Me: Well we are taking new clients. Caller: When can I get an… Read More
This post is not about the different types of credentials for paid tax practitioners. You can read about that here. This post is about the difference between box fillers and true tax professionals. Even someone with letters can be a box filler instead of a true tax professional. If you are a taxpayer reading this… Read More
The CARES Act and the more recent legislation (it doesn’t have a catchy name so I’ll call it CARES2) have created an above-the-line adjustment for certain charitable contributions. Pro-tip: If it’s “above the (AGI) line” it’s an adjustment to income; if it’s below the (AGI) line it is a deduction. If you are a #taxpro… Read More
Control my life? I can’t even control my hair! This one is for my #taxpro friends and #TaxTwitter. I can’t find the tweet or the article linked in the tweet but former Taxpayer Advocate, Nina Olsen, expects this filing season to be “a disaster.” And she said this after, well, last filing season. So I’m… Read More
We’re not quite to the new year yet, but I’m sprinting toward the goal line! I’m also expecting that many taxpayers will be required to complete a new Form W4 soon. Form W4 is what your employer uses to determine how much federal and state income tax to withhold from your paycheck each pay period.… Read More