Tracking Charitable Contributions for Your Clients

Dec 27 1:45pm Tax Pro Center | Intuit ProConnect
Over the last few years, as the economy continues to recover from one of the biggest recessions in modern history, the charitable donation industry has become quite big. However, the donation industry has become so popular that it has attracted... Full Story...
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I hope you and yours have a Merry Christmas!

Dec 27 1:03pm Accounting News and Notes
Praying for great things ahead for 2017!...
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Tallie and Nexonia Merge

Dec 27 1:00pm Accountex Report
Tallie and Nexonia have merged, with Tallie’s CEO Chris Farrell heading up the new company. Operations will continue out of both Canada (where Nexonia is based) and the United States (where Tallie is based). A merger like this doesn’t come as a surprise to me as there are lots of specialized business apps. Not only […] The post Tallie and Nexonia Merge appeared first on Accountex Report.
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Accounting News Roundup: PCAOB Board Member Hanson Resigns, Tax Holidays and Director Compensation | 12.27.16

Dec 27 11:24am
Ed. note: It's the final week of the year so things will be pretty quiet around Going Concern this week.
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New! Personalized Smart Training Portal is Now Open

Dec 26 9:00am Tax Pro Center | Intuit ProConnect
Jan. 3, 2017, marked the Intuit® ProConnect™ release of the improved Desktop Training Portal and the second major improvement for our customers’ My Account experience. The team has dedicated the last two months to connecting with our customers, identifying your... Full Story...
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Affordable, Effective Help for Clients Facing Audits or ID Theft

Dec 26 9:00am Tax Pro Center | Intuit ProConnect
Did you know the IRS conducts about 1.5 million tax return audits each year? In addition, the U.S. Department of Justice (DOJ) reports that 17.6 million Americans experienced identity theft in 2014; two-thirds of the victims reported direct financial loss,... Full Story...
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Amazon Launches a Cashier-Free Convenience Store

Dec 26 5:00am CPA Trendlines technology
It feels like shoplifting, but of course it's not. By Rick Richardson Technology This Week The post Amazon Launches a Cashier-Free Convenience Store appeared first on CPA Trendlines.
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QuickBooks 2015 R13 Security Changes

Dec 23 1:00pm Accountex Report
Intuit has released the QuickBooks 2015 R13 update for the U.S. version of QuickBooks. This is available as a manual update from the Intuit support website. It is also starting to roll out as an automatic update. The big news in this release is a change to the enhanced security feature that I talked about in […] The post QuickBooks 2015 R13 Security Changes appeared first on Accountex Report.
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To Claim or Not to Claim: When Should Your Clients Take Social Security?

Dec 23 9:00am Tax Pro Center | Intuit ProConnect
Deciding when to collect Social Security benefits has become an essential financial consideration for most American families. Yet, Social Security is often misjudged by many of its beneficiaries. Tax professionals who work with retirees know their clients are often inclined... Full Story...
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Small Changes with a Big Impact

Dec 23 9:00am Tax Pro Center | Intuit ProConnect
To sail efficiently through tax season, you will want to have powerful, time-saving tax software in place, including Intuit® ProConnect™ Tax Online, Lacerte® or ProSeries®. These tools can save you up to 52 minutes on a complicated return.* However, additional opportunities... Full Story...
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Of What Use is Deferred Tax Expense to Financial Analysts?

Dec 22 10:44pm Accounting Onion
Interperiod tax allocation has been required since the 1950s, soon after Congress permitted tax deductions based on accelerated depreciation of long-lived assets.  History indicates that the accounting standard setters who pushed for interperiod tax allocation (ARB 44 and APB 11) were fighting the good fight against issuers. Notwithstanding such good intentions, I took the position in my previous post that on conceptual grounds at least, interperiod tax allocation has been an unnecessary and costly aspect of U.S. GAAP (and IFRS).  It is common knowledge that using tax deductions at a faster rate than the economic depreciation of the asset burdens management by making opportunities to dispose of the asset less attractive.  But, a burden does not always equate to an obligation:  “According to any reasonable understanding of the word, obligations are incurred independently of how financial statements are prepared, and they would be incurred even if financial statements were not prepared.”   [Leonard Lorenson, AICPA Research Monograph No. 4, Accounting for Liabilities, 1992.  Italics in original] Consistent with that observation by Leonard Lorenson, my example in the previous post demonstrated that recognition and measurement of a deferred tax liability solely depends on how other assets and liabilities are recognized and measured.  Many different types of [Read More...]...
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Accountingfly Featured Job of the Week: Senior Accountant With Johnson Advisors

Dec 22 4:07pm
Accountingfly's featured job this week is a...
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IRS 990-N down until January 6 2017

Dec 22 10:53am HomeschoolCPA.com
Form 990-N online filing system will be will be down from December 26, 2016 until January 6, 2017 Related posts: How to know your status with the IRS New website for filing IRS Annual ePostcard Form 990-N IRS Form 990-N FAQ...
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Accounting News Roundup: Google's Tax Avoidance and Taboo Topics at Work | 12.22.16

Dec 22 10:25am
Happy Holidays, denizens of Going Concern. We'll be off tomorrow and Monday.
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Meet the Difference Makers: John Jones

Dec 22 9:00am Tax Pro Center | Intuit ProConnect
In this series, we share stories about tax professionals who make a huge difference in their clients’ lives. John Jones, CPA, of Linkenheimer LLP, takes “making a difference” to a new level by also improving the lives of underprivileged people... Full Story...
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Be sure your CPA is practicing Excellence at all touch points

Dec 22 7:01am Accounting News and Notes
The below is a note that we were just recently received from one of our clients who gave us a gift basket . I also happen to have been invited to pray at this clients wedding party before the meal was served. We are looking for great people who are growing their business. If you […]...
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QuickBooks 2017 R4 Released

Dec 21 1:00pm Accountex Report
Intuit has released the QuickBooks 2017 R4 update for the U.S. version of QuickBooks. This is available as a manual update from the Intuit support website. It is also starting to roll out as an automatic update. This update includes several changes, including changes for 1099 Misc e-filing, improvements in the scheduled reports feature, partial payments with […] The post QuickBooks 2017 R4 Released appeared first on Accountex Report.
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Accounting News Roundup: Deloitte Apologizes to UK Government and Bad Tax Policy Ideas | 12.21.16

Dec 21 10:09am
Deloitte apologi[s]es Deloite is apologizing to the British governme...
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Intuit ProConnect Tax Online Customer Profile: Jackie Meyer

Dec 21 9:00am Tax Pro Center | Intuit ProConnect
Meet Jackie Meyer, CPA, owner of Meyer Tax Consulting, LLC, in Southlake, Texas (a suburb of Dallas). Here’s a snapshot of Jackie’s practice: By the Numbers: Intuit® ProConnect™ Tax Online (PTO) Customer since: 2012 Employees: 5 Returns per year: 150... Full Story...
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How to Get Your Clients Ready for Tax Season

Dec 21 9:00am Tax Pro Center | Intuit ProConnect
Your office may be geared up and ready for tax return season. However, even the most streamlined office procedures will not guarantee a successful tax return season without the cooperation of one key element: your clients. If clients are habitually... Full Story...
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SURVEY: Embracing New Technology a Must

Dec 21 1:00am CPA Trendlines technology
What value are you adding? By Rob Nixon, Panalitix The Rosenberg MAP Survey The post SURVEY: Embracing New Technology a Must appeared first on CPA Trendlines.
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Tax Strategies for Small Business Owners

Dec 20 6:31pm Goldin, Peiser & Peiser, CPAs
By Amber Gutschlag It’s almost time to ring in the new year, and small business owners always want to know…what can I do now to reduce my tax bill?  The good news is, it’s not too late to put a few strategies into place that can improve your business and lessen your tax burden.  Don’t The post Tax Strategies for Small Business Owners appeared first on Goldin, Peiser & Peiser, CPAs.
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PCAOB Inspectors Find IT Auditors on the Struggle Bus

Dec 20 5:14pm
In case you missed the news earlier this month, all of the PCAOB reports are out for the Big 4's 2015 cycle...
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Accepting in-kind donations of equipment or services

Dec 20 11:40am HomeschoolCPA.com
Carol, My homeschool group (a 501c3 nonprofit) was donated $500 in science equipment. How to I record a gift like this in my record keeping? We use QuickBooks.   How wonderful to receive such a generous donation. As a 501(c)(3) tax exempt organization the donation is a tax deductible contribution for your donor. Thank the […] Related posts: Got donations? Confirming contributions in a homeschool organization Giving receipts for donations to a homeschool group Are you asking for donations on your website?...
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Make Sure You Find the RIGHT CPA for Your Business

Dec 20 10:13am Accounting News and Notes
Make Sure You Find the RIGHT CPA for Your Business As a Metro Atlanta CPA serving Metro Atlanta business owners for 27 years I have learned that finding a CPA is the best first step to maximizing the opportunity for business success. This quick list will help you determine whether a CPA is a good […]...
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Accounting News Roundup: Deloitte Spies, Stock-based Comp and an SEC Chair Contender | 12.20.16

Dec 20 10:08am
Deloitte spies Here's a fun story from CNBC reporter Eamon Javers on an es...
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Keep Your Tech Budget Updated

Dec 20 5:00am CPA Trendlines technology
Will you replace servers or head for the cloud? Roman H. Kepczyk Quantum of Paperless The post Keep Your Tech Budget Updated appeared first on CPA Trendlines.
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QuickBooks Online vs. QuickBooks Pro or Premier Pricing & Job-Cost Features

Dec 20 1:07am Build Your Numbers
A Humorous  & Insightful Email… A builder contacted me some months ago about which QuickBooks software program he should use – QuickBooks Online? Or one of the desktop versions – QuickBooks Pro, QuickBooks Premier, or Enterprise? […]...
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Accounting Firms That Aren't Paperless Need to Get Their Act Together

Dec 19 4:53pm
Gone are the days of meticulously color-coding client folders, strategically placing sticky flags and paper summation tapes and making perfectly placed tickmarks on each beautiful sheet of paper.
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How to Risk-Adjust Your Forecast

Dec 19 1:00pm Accountex Report
We all know the forecast is never exactly right. Regardless of how sophisticated the methodology, whether we use predictive analytics tools and revise the forecast on a rolling basis, there are always factors outside our control that can impact it one way or the other. It’s what we think may happen—our best guess. The good […] The post How to Risk-Adjust Your Forecast appeared first on Accountex Report.
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Outsourcing Your Bookkeeping

Dec 19 10:31am Accounting News and Notes
Outsourcing Your Bookkeeping Having your CPA be the primary contributor to preparing your internal books and records will do much to ensure you will have reliable monthly and quarterly financial statements. Put our CPA Talent to work for your Bookkeeping needs to work for you Offering Bookkeeping Solutions you can live with at an affordable […]...
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Accounting News Roundup: Apple Strikes Back, CPAs Going to Pot and Whistleblowers | 12.19.16

Dec 19 10:06am
Apple Apple made its displeasure with the EU's demand of $14 billlion in back taxes known pretty much right away, but has now the company gone on an aggressive PR offensive.
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21st Century Cures Act Relieves Small Business Health Care Burden

Dec 19 9:00am Tax Pro Center | Intuit ProConnect
On Dec. 13, 2016, President Obama signed into law the 21st Century Cures Act. Title 18 of the law exempts qualified small employer health reimbursement arrangements (HRAs) from group health plan requirements. This eliminates the severe penalties the IRS placed... Full Story...
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Pros and Cons of Virtual Assistants

Dec 19 9:00am Tax Pro Center | Intuit ProConnect
A virtual assistant (VA) isn’t a robot or an Amazon Alexa and Echo; it’s an actual person who can help you with “virtually” any work you might have. What are the pros and cons of having a VA, and how... Full Story...
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Why Companies Are Not Outsourcing Their Accounting Services

Dec 19 8:57am AccountingDepartment.com
We regularly explain and blog about the many benefits of outsourcing accounting services. From removing from the need to be an expert outside of your core competencies to leveraging the collective knowledge base of a group of top professionals, there are many reasons to consider outsourcing. However, we also acknowledge that outsourcing isn’t the only solution—and it isn’t just “for every company”. So if you are on the fence about whether or not to outsource your accounting, bookkeeping or controller functions, consider the following reasons you might want to keep them in house. ...
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Charge Your Phone With the Fabric in Your Sweater

Dec 19 5:00am CPA Trendlines technology
The power source: nanogenerators. By Rick Richardson Technology This Week The post Charge Your Phone With the Fabric in Your Sweater appeared first on CPA Trendlines.
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LinkedIn Becoming More Miserable By Telling Everyone How Underpaid They Are

Dec 16 5:38pm
Pardon me for not paying attention, but someone just sent me this article about LinkedIn Salary...
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What Type of Networker Are You?

Dec 16 1:12pm Goldin, Peiser & Peiser, CPAs
It’s a common misconception that there’s only one type of networking style. In Jessica Stillman’s recent Inc. article, she explains the three types of networkers: Player: this is the one most people associate with successful networking. They thrive in social situations and enjoy meeting new people. They are outgoing, attending lots of events and cultivating The post What Type of Networker Are You? appeared first on Goldin, Peiser & Peiser, CPAs.
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Accounting News Roundup: Apple's Taxes and Companies Get the Hint re: Non-GAAP Metrics | 12.16.16

Dec 16 10:03am
Apple's taxesEarlier this year, the European Union said that Ireland had given Apple unfair treatment and that the company owed 13 billion euros.
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Client Data Collection in Five Easy Steps

Dec 16 9:00am Tax Pro Center | Intuit ProConnect
Everyone is talking about Intuit® Link and how easy it is to use for you and your clients. This feature will make your firm more efficient, while your clients will enjoy the mobile convenience Link offers. The Link data collection... Full Story...
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Some CPAs are Virtual CFOs, Authors & Law Changers

Dec 16 3:29am Accounting News and Notes
Some CPA’s are Virtual CFO’s, Authors & Law Changers. If you just want someone to prepare your taxes with no thought there’s plenty of people to go do that. You often can find them in malls and superstores. But if you’re looking for a bit more out of life a bit more out of your […]...
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Subchapter S Corporations & Estates Trusts as Shareholders

Dec 15 5:08pm Goldin, Peiser & Peiser, CPAs
Subchapter S Corporations & Estates Trusts as Shareholders from gppcpa The post Subchapter S Corporations & Estates Trusts as Shareholders appeared first on Goldin, Peiser & Peiser, CPAs.
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What Cheap, Crappy Gift Is Your Firm Handing Out This Holiday Season?

Dec 15 4:06pm
Here's an anonymous tip that came in earlier today:...
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Theres Still Time to Land a New Job in 2016

Dec 15 12:54pm
Many public accounting firms across the US are looking to fill full time positions over the next 6 weeks. If you’ve been thinking about a job change, now is the time.
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What is the Difference Between Cloud and Hosted Tax Software?

Dec 15 9:00am Tax Pro Center | Intuit ProConnect
When discussing our software with customers, we often get the question, “What’s the difference between cloud and hosted tax software?” They are both accessible via a web browser from anywhere that has an internet connection – so are they essentially... Full Story...
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Deloitte's Dutch Firm Takes Its Turn With PCAOB

Dec 14 5:24pm
The PCAOB has announced another settlement with a Deloitte firm today, this time the Dutch version.
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QuickBooks 2016 R9 Released

Dec 14 1:00pm Accountex Report
Intuit has released the QuickBooks 2016 R9 update for the U.S. version of QuickBooks. This is available as a manual update from the Intuit support website, and it also is rolling out as an automatic update. The big changes relate to 1099 e-filing and QuickBooks Payments. Here’s an overview of the changes in this release. 1099 […] The post QuickBooks 2016 R9 Released appeared first on Accountex Report.
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Accounting News Roundup: Procrastination Remedies, Working Parents, Mileage Rates | 12.14.16

Dec 14 9:45am
New revenue recognition standard procrastination Accounting Today reports that the Center for Audit Quality has...
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Year-End Tax Tips for Your Clients Who Are Retired

Dec 14 9:00am Tax Pro Center | Intuit ProConnect
Whether taking advantage of senior discounts at popular stores or enjoying happy hour specials with friends, retirees are astute at maximizing their money. As the end of the year is rapidly approaching, it’s also important for retirees to examine opportunities... Full Story...
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6 Productivity Tools for Accountants and Tax Professionals

Dec 14 9:00am Tax Pro Center | Intuit ProConnect
When Intuit® asked for some productivity tools for accountants and tax professionals, I raised my hand, jumped up and down, and said, “Pick me, pick me, please pick me.” You see, productivity tools are my jam; when I’m not busy... Full Story...
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Accounting News Roundup: KPMG's Revenue and Spending $1M on 'Game of War' | 12.13.16

Dec 13 10:13am
Revenue recognition As we mentioned the other day, the FASB has said it might take a ti...
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Use Quickbooks online for free

Dec 13 9:56am HomeschoolCPA.com
TechSoup arranges free QuickBooks online for nonprofit organizations Related posts: QuickBooks for free to nonprofits Accounting software recommendations for homeschool groups Aplos Accounting for Nonprofits: Better Than Quickbooks?...
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5 Financial Moves Self-Employed Workers Can Make Now to Increase Their Tax Deductions

Dec 13 9:00am Tax Pro Center | Intuit ProConnect
Although many people dream of going into business for themselves, one of the main reasons they don’t is because of all of the economic uncertainty. You can make it easier for your clients – and help them keep as much... Full Story...
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SURVEY: How Different Sizes of Firm Approach IT Spending

Dec 13 5:00am CPA Trendlines technology
Plus 4 IT rules to live by. By Randolph P. Johnston, Leslie Garrett and Brian F. Tankersley The Accounting Firm Operations and Technology Survey The post SURVEY: How Different Sizes of Firm Approach IT Spending appeared first on CPA Trendlines.
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Deferred Taxes and Tax Reform: Is a Big (Fictional) Accounting Gain in the Future?

Dec 13 1:09am Accounting Onion
I read today that Congress is likely to consider corporate tax reforms that would reduce the statutory income tax rate from the current 35\% to as little as 15\%.  The lower income tax rate would be offset by the elimination of a tax deduction for interest, and a “destinationation-based consumption tax.”  The idea of this latter new form of taxation is that goods would be taxed based on where they were consumed rather than where they were produced.  Accordingly, imports would be subject to Federal taxes, while exports would not. Whether this novel sort of tax reform would benefit the U.S. economy seems like a very interesting and significant question that will  be forever outside of my area of expertise.  But, it does provide me with an opportunity to explain my misgivings with the reporting of tax expense in financial statements. I have four concerns: First, there is the issue of “intraperiod” tax allocation.  Given the broad variety and complexities of tax regimes throughout the world it comes as no surprise that the FASB provides virtually no guidance for distinguishing between an “income tax” and other forms of taxation. Yet, the required two-step income statement relies on such a distinction: NI = NIBT – [Read More...]...
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How to Make an Impact at a Nonprofit

Dec 12 5:12pm
People join nonprofits for lots of reasons. Often it’s from a desire to give back to the community or passionately support a cause. Other times a person is new to the community and wants to make some connections.
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Make the Most Out of Charitable Donations for Small Business Taxes

Dec 12 2:11pm ATPP
For today’s small businesses facing increasing costs on nearly every front, finding a way to cut taxes is crucial. If your business has taken all of the internal deductions it can, and you still need to lower that tax bill, … Continue reading →...
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Q&A with Mariette Martinez, EA: How to Start Your Own Tax Practice

Dec 12 2:11pm Tax Pro Center | Intuit ProConnect
Whether you have attended my recent “How to Start Your Own Practice” webinars and want to see the Q&A, or are simply interested in learning more about starting your own tax practice, this Q&A may help! Throughout the webinar series,... Full Story...
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