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There is something to be said about a tax professional who is on top of the latest tax law changes and strategies. Your clients can sense you know what you are doing. And you spend less time while making fewer mistakes during the busy season.

Choosing your tax update partner is an important decision. While some may look at CPE as a nuisance, the quality of your yearly update will help you service your clients better, improve referral rates and increase billing rates.

ClientWhys provides the most comprehensive coverage of our ever-changing and evolving tax laws, regulations, rulings, filing procedures and troublesome areas, such as the Health Care provisions, debt relief and foreclosure, and the constant line up of new provisions each year.

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2016 California Tax Return Preparer (CRTP) 20-Hour Bundle

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2016 Enrolled Agent (EA) 24-Hour Bundle

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B216CPE - 2016 The Big Book of Taxes PDF With 24 Hours CPE

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The Tax Professionals Blog

Lodging Per Diem

Rev Proc 2011-47 & Notice 2011-81 details the rules, effective October 1, 2011, for using a per diem rate to substantiate the amount of an employee’s expenses for lodging, meals and incidentals that an employer (or third party) reimburses, and explains how an employee or self-employed individual may use the “standard meal allowance” but not the lodging per diem.

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Home Office Income Limitations

The home office deduction is limited to the business activity’s gross income, but many people mistakenly believe that the limitation is the activity’s net income. The gross income limitation is actually the gross sales less the cost of goods sold, the business portion of the home’s mortgage interest and taxes, and the otherwise deductible business expenses that are not related to the home’s business use. (Publication 587 includes a worksheet on this calculation.)

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Individual Retirement Account (IRA) & Unrelated Business Income

Generally, an IRA is exempt from tax except for unrelated business income (UBI).

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