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Big DIY Rise Boosts Tax Season

(Progressive Accountant) - A 22.8-percent rise in self-prepared efiles lifted the extended tax season to a 4-percent increase in returns. The Internal Revenue Service has reported that 151,782,000 were filed for the season through July 17 compared to 145,941,000 filed through July 19, 2019.

Is your priority to maintain or do better?

It’s a different ballgame now than it was before the crisis. While the new reality might pose challenges for many firms, it also provides opportunities for proactive firms like yours. AccountantsWorld’s 2020 Promise is here to guide you through those changes. Learn more

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Case Studies: AI & data analytics in 2020 
(Accounting Today) - While AI and data analytics are very often associated with audit engagements in the accounting profession, the three firms featured below have all found, either by design or accident, the wider applications of the technology in forecasting, planning, consultation and advisory services. And while all three firms featured are midsized or larger, the benefit to small firms is apparent...

Proposed Rules Govern Carried Interests 
(JofA) - The IRS issued proposed regulations under Sec. 1061, enacted by the law known as the Tax Cuts and Jobs Act, which requires owners of certain partnership interests to hold them for three years to be eligible for capital gain treatment.

California 13.3% Tax Rate May Be Raised To 16.8%...Retroactively 
(Forbes) - Most California’s think they already pay high taxes, and they are not wrong. But a tax bill, AB 1253 (Santiago), would impose even higher taxes, and retroactively to January 1, 2020.

Gifting Strategies for Tax Pros in Our Complicated 2020 Environment 
(Accounting Web) - Many tax practitioners are wrestling with the income and transfer tax considerations in making gifts in our highly unusual coronavirus environment.

Business Spending Gets a Bounce 
(Kiplinger) - Kiplinger’s latest forecast on business equipment spending

Offer Client Accounting Services in 90 days

To offer Client Accounting Services (CAS), you don’t need to be a big firm - and you don't need new clients. Learn how to leverage your existing skills and clients to start a profitable CAS practice. Read our post.

About AccountantsWorld

At AccountantsWorld, we value the crucial role that YOU play in core business services - accounting and payroll - just as much as you do.

That's why, since 2003, we've used the unprecedented power of the cloud to put you back in full control of your accounting and payroll services so you can best serve your clients, while raising your own firm's value and relevance. And we never sell our products or services directly to your clients.

Schedule a Demo:
Payroll Relief Accounting Power or call 888-999-1366