Sample tax services engagement agreement

Posted 1 CommentPosted in Accounting, Tax Planning, Taxes

This is a sample high-value agreement for individual tax preparation services that incorporates cost-saving technologies and procedures to save time and money while maintaining a high level of professional service.  Thank you for choosing me to help you with your taxes. My goal is to give a stress-free tax filing experience. Clear communication plays an […]

Is tax amnesty coming to New Jersey?

Posted Leave a commentPosted in government, New Jersey, Taxes

Governor Murphy proposed a tax amnesty program in our state of New Jersey. All indications I’ve read indicate that the legislature will eventually authorize it. If you haven’t filed tax returns now is the time to plan a strategy to get ready for this program. I am please to speak with anyone confidentially or even […]

List of Pennsylvania Local Tax Collection Districts (2018)

Posted Leave a commentPosted in Pennsylvania, Taxes

Pennsylvania currently has 70 local tax districts. The tax collector for each district splits the tax, where applicable, between the school district and the local municipality. In some cases there may be a local tax where you live (for example, a 1% earned income tax) and a different tax (for example, a local services tax) […]

2018 Changes to Employee Benefit Plans

Posted Leave a commentPosted in Employee Benefits, Taxes

This article lists the primary changes triggered by the Tax Cuts and Jobs Act that have an impact on employee benefit plans. They are listed here roughly in the order of impact on small business employers. For example, health benefits changes and work-related travel change impacts most businesses ,whereas compensation above $1 million affects fewer […]

Annotated IRS Collection Statutes

Posted Leave a commentPosted in IRS, Taxes

This is an annotated copy of IRS statute controlling collection actions. 8.21.5 Collection Statutes Manual Transmittal November 17, 2015 Purpose (1) This transmits revised IRM 8.21.5, Collection Statutes. Background This IRM provides guidelines for verifying, updating, and monitoring statutes on collection cases in Appeals. Material Changes (1) Changes to this IRM are as follows: IRM Section […]

What to do if you owe money to the IRS: 4 steps to resolution

Posted Leave a commentPosted in IRS, Taxes

There is a clear and direct 4 step path to resolving IRS tax problems but you must follow this path in the proper sequence. An interesting discussion came up yesterday among tax professionals that indicates a need for us to communicate more effectively on the basic steps of resolving an income tax problem. By “income […]

Implications of blockchain in everyday accounting

Posted Leave a commentPosted in Accounting, cryptocurrency, Taxes

The AICPA co-published a new report on blockchain that is written primarily by accountants at Deloitte & Touche LLP. The report covers a range of issues from introduction of concept to a call for action for CPAs. It is not an accounting standards publication but rather a white paper on the issue of blockchain. The decentralized […]

Questions about a QSEHRA?

Posted Leave a commentPosted in Health Insurance, payroll, Small Business, Taxes

Yesterday I was hired for a single consultation engagement for a small business in Silicon Valley to answer a few simple questions about setting up a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). This is a simple, low cost and highly effective way for a small business to save money on employee health costs in […]