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Practical tax insights for working tax professionals.
Written by tax professionals for CPAs, EAs, and tax preparers.

Federal Tax Updates | Business Tax Issues | Individual Tax Topics | IRS Operations | Practice Management | State & Local Tax | Tax School News

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5 Myths About Accountants

5 Myths About Accountants

When most people think about accountants, a vision of a dark room with a disheveled accountant hunched over a desk rapidly entering numbers into a calculator comes to mind. Well,…
IRS Audit Issue – S Corporation Reasonable Compensation

IRS Audit Issue – S Corporation Reasonable Compensation

One of the areas of “low-hanging fruit” for IRS auditors in recent years involves the issue of reasonable compensation in the S corporation context. But what does “reasonable compensation” mean? …
Tax Deadline is June 15 for Americans Living Abroad

Tax Deadline is June 15 for Americans Living Abroad

The U.S. Department of State’s Bureau of Consular Affairs estimates that nearly 9 million U.S. citizens currently live abroad. Do you have clients included in this statistic? Americans living abroad…
It’s Time to Start Planning for 2022 Tax Returns

It’s Time to Start Planning for 2022 Tax Returns

I know it feels as though the 2021 tax filing season just ended (or hasn’t ended for many of you with extensions and nervous taxpayers inquiring about their delayed refunds)….
Building Blocks of Life & Career

Building Blocks of Life & Career

As his final blog installment before starting his new position at NATP as the Director of Tax Content and Government Relations, Tom O’Saben wants to thank everyone for the opportunity…
House Flipping – Business or Investment?

House Flipping – Business or Investment?

This week’s Tax School blog reviews how a taxpayer’s activity is viewed by the IRS when it comes to house flipping – purchasing a property, fixing it up, and selling…