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"Serious Problem" at IRS: Private Debt Collectors

Ray Martin of MoneyWatch

Last year the IRS reactivated a program using private debt collectors to collect unpaid taxes from individuals with delinquent tax debts. According to the National Taxpayer Advocate, the IRS' Private Debt Collection (PDC) program is a "most serious problem." A troubling finding of a recent report was that taxpayers, whose tax debts were...

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Tax Strategies

Questions and Answers on the Qualified Business Income Deduc…

Sidney Kess, CPA, J.D., LL.M.

The Tax Cuts and Jobs Act of 2017 introduced a new write-off for owners of pass-through entities that runs from 2018 through 2025. This deduction doesn’t require any cash outlay...

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Feature Stories

Easy Money or Tax Trap for the Unwary

Kathleen M. Lach

It has become fairly common these days for individuals and businesses to raise funds for various purposes through a mechanism referred to now as “crowdfunding.” Whether for a charitable cause...

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Using Technology to Expand Your Practice

Charitable Contributions for High-Income Taxpayers

Sidney Kess, CPA, J.D., LL.M.

The government views those with income of $200,000 or more as “high-income taxpayers,” and charitable contributions are a popular write-off for this group of individuals. For 2015 (the most recent...

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Financial Planner

Understanding Pay Options with the new DOL Regulations

Jerry Love, CPA/PFS, CFP, CVA, ABV, CITP, CFF, CFFA

This article is a follow up to the prior article which highlights the new regulations for the Fair Labor Standards Act (FLSA) from the Department of Labor (DOL) raising the...

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Client Tax Tip

How Interest Can Be Deducted When Money is Borrowed to Buy I…

Julie Welch, CPA, CFP

If a taxpayer borrows money to purchase investments, such as mutual funds, bonds or stock, the interest paid on the loan can usually be deducted. There are two limitations, however...

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Editor Blog

CPAs Wanting to Do It Themselves

Joshua Fluegel

In its ongoing effort to stay on the forefront of developments in tax profession technology, CPA Magazine talks to Mark Strassman, president of Make My Day CPA. Strassman discusses CPAs’...

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Tax Checklist

Estate Planning After Tax Reform

Martin M. Shenkman, CPA, MBA, PFS, AEP, JD

Tax Reform has not been enacted at the time this article is written, but it appears likely that some variation of the House and Senate proposals will be enacted. Because...

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