Tax School Blog

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

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Tax Considerations & Knowledge Transfer in Practice Succession

Successful succession planning involves more than transferring ownership or assets. Knowledge transfer plays a key role in helping the next generation understand business operations, tax responsibilities, decision-making processes, and long-term planning strategies. This article explores tax considerations that can affect knowledge transfer and why communication and documentation matter during a transition.

How to Structure Your Tax Practice Transition and Prepare for the Unexpected

Succession planning for a tax practice involves more than timing a sale. This article explores how to structure transitions, prepare for emergencies, and evaluate your firm with the right valuation approach.

Tax Season Bingo

As tax season wraps up, we pulled together a bingo card of the moments that show up every April. Take a look and see how your season stacks up.

IRS Provides Blanket Underpayment Penalty Relief for Qualifying Farmers Filing 2025 Returns

The IRS is providing underpayment penalty relief for qualifying farmers and fishermen filing 2025 returns. This article explains who qualifies, how the relief works, and what to do if a penalty was already assessed.

Keeping Clients Confident and Your Succession Plan Up to Date

How you communicate a transition can shape how clients respond. This article outlines practical ways to inform clients, maintain confidence, and keep your succession plan current.

Assessing Your Tax Practice and Identifying a Successor

Succession planning doesn’t start with choosing a successor. It starts with understanding your practice. In this second post in our succession planning series, we look at how to organize your operations, document key responsibilities, and begin evaluating potential successors.