Written by Guy Schmitz J.D., LL.M. Code §183(a) generally disallows any deduction attributable to an activity “not engaged in for profit.” The section prevents those indulging in a hobby from offsetting their hobby losses against taxable income from other sources. See a recent case, Henry J. Metz, et ux. v. Commissioner, TC Memo 2015-54, which […]
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Intuit Brews Accountant-Only Beer for Rhode Island CPAs
Intuit, a company that makes finance software such as QuickBooks and TurboTax, made tax season a little more fun for accountants in Rhode Island. On March 30, Intuit announced a new product for the hard-working Rhode Island accountants: beer. However, this isn’t just any beer; it’s beer specifically for accountants! Intuit wanted to take out […]
Staffing Cutbacks Lead to Unpaid Taxes by Millionaires
With tax season coming to a close, millions of dollars are going unpaid in Texas. Taxpayers owing $100,000-$999,000 in unpaid taxes are going unnoticed due to the short-staffing in revenue agents, revenue officers and criminal investigators. Five thousand fewer positions that go after the millionaire tax cheats have been dissolved in the state, leaving 1,000 […]
Last Minute Tax Season Considerations
President Obama’s 2015 budget proposal includes several items that would affect how individuals are taxed. As you’re preparing last minute taxes for individuals and families this season, take just two minutes out of your day to get ready for questions from your clients about these proposed changes. Under the proposed budget, the following changes […]
Who Are You?
“Who are you?” said the Caterpillar. — Alice’s Adventures in Wonderland “Who are you?” is an often-asked question. We may hear it from philosophers, psychiatrists, psychologists, social scientists, Homeland Security, the FBI, the CIA, the NSA, and practitioners. But we will let them tend their gardens while we tend ours. A related question […]
Surgent’s Business Law Essentials for Practitioners and Controllers
It is important for all practitioners and controllers to have a better understanding of how the law can impact their practice and their clients. No matter how careful you think you are or how well you think you know the laws, it never hurts to keep your knowledge in check. Our next upcoming webinar on […]
Self Study vs. Webinars: What’s the difference?
Surgent offers both webinar and self-study continuing professional education courses. At the end of the day, choosing webinars or self-study comes down to personal preference. Here are a few key differences between the two to help you decide which might work better for your studying preference.
5 April CPE Courses You Can’t Miss
This year, we’re offering hundreds of webinars and self study CPE courses to help you fulfill all your continuing education requirements. Check out a few of our most popular courses being offered in April. Surgent’s Ethical Considerations for the CPA (ETHC) Date: April 2 from 1:30p.m.-5:00 p.m. EDT Credits: 4 Presenter: Jay Glannantonio, MBA, MS, […]
Five Tips to Get the Most Out of Your CPE Courses
Studying may be one of your least favorite tasks, but having effective study habits is the key to getting the most out of your continuing professional education courses. Check out these five tips to help you effectively retain important information from your CPE classes. Nix multitasking As much as we all would like […]
Four Tips to Fit CPE Into Your Busy Schedule
Fitting continuing professional education requirements into your already jam-packed schedule with clients can be a challenge. Luckily, there are a few easy ways you can fit your CPE courses in your already busy schedule without bogging down your day. Spread it out Avoid the last-minute crunch to meet your CPE deadlines and schedule them out […]