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2020 Tax Professional Accounting & Tax Service: A Comprehensive Guide
Author: Evelyn Reed, CPA, MST, with over 15 years of experience in public accounting, specializing in tax preparation and advisory services for small businesses and high-net-worth individuals. Evelyn has been a frequent speaker at national tax conferences and is a published author on tax-related topics.
Publisher: TaxPro Insights, a leading provider of educational resources and professional development materials for tax professionals. TaxPro Insights has been serving the accounting community for over 20 years and boasts a team of experienced CPAs and tax attorneys.
Editor: Michael Davis, CA, with 10 years of experience in editing and publishing financial and accounting literature. Michael ensures accuracy and clarity in all published materials.
Keyword: 2020 tax professional accounting & tax service
Summary: This guide provides a detailed overview of the key aspects of 2020 tax professional accounting and tax services. It covers best practices, common pitfalls to avoid, significant legislative changes, and crucial considerations for tax professionals navigating the complexities of the 2020 tax year. The guide aims to equip tax professionals with the knowledge and strategies to provide efficient and accurate tax services.
1. Understanding the 2020 Tax Landscape: A Foundation for Success
The 2020 tax year presented unique challenges. The COVID-19 pandemic brought about significant economic shifts and legislative responses, impacting various aspects of tax preparation and accounting. Understanding the CARES Act and its implications, including stimulus checks and expanded unemployment benefits, was crucial for accurate 2020 tax professional accounting & tax service. This section details the key provisions of the CARES Act and other relevant legislation enacted in 2020.
2. Best Practices for 2020 Tax Professional Accounting & Tax Service
Providing excellent 2020 tax professional accounting & tax service requires adhering to best practices. This includes meticulous record-keeping, accurate data entry, utilizing appropriate tax software, and diligent client communication. This section emphasizes the importance of due diligence, proper documentation, and adherence to ethical standards, crucial for avoiding costly mistakes and maintaining client trust. We'll also discuss risk management strategies.
3. Common Pitfalls to Avoid in 2020 Tax Preparation
This section addresses common errors encountered during 2020 tax preparation. These include incorrect reporting of stimulus payments, miscalculation of unemployment compensation, and overlooking deductions or credits available under the CARES Act. We will discuss strategies for identifying and preventing these mistakes, thereby ensuring accurate and timely filing. The importance of quality control procedures will be highlighted.
4. Navigating Technological Advancements in 2020 Tax Professional Accounting & Tax Service
Technological advancements significantly impacted 2020 tax professional accounting & tax service. This section explores the use of tax software, cloud-based accounting platforms, and digital communication tools. We will discuss the benefits and challenges of adopting new technologies, and provide guidance on selecting appropriate tools to enhance efficiency and accuracy. Data security and client privacy will also be discussed.
5. Client Communication and Relationship Management
Effective communication is paramount for successful 2020 tax professional accounting & tax service. This section emphasizes the importance of clear and consistent client communication throughout the tax preparation process. We discuss strategies for building strong client relationships, handling difficult conversations, and maintaining client confidentiality.
6. Ethical Considerations and Professional Responsibility
Maintaining ethical standards is crucial for 2020 tax professional accounting & tax service. This section addresses ethical dilemmas tax professionals might encounter, highlighting the importance of adhering to professional codes of conduct and regulations. We’ll discuss conflict resolution and strategies for maintaining professional integrity.
7. Post-Filing Procedures and Year-End Tax Planning
This section outlines the crucial steps following tax filing, such as responding to IRS notices, preparing amended returns if necessary, and initiating year-end tax planning for clients. The importance of proactive strategies for the upcoming tax year will be emphasized.
8. Staying Updated on Tax Law Changes
The tax landscape is constantly evolving. This section highlights the significance of continuous professional development and staying informed about changes in tax law. We will offer resources and strategies for tax professionals to maintain their professional competence.
9. The Future of 2020 Tax Professional Accounting & Tax Service
This section examines the trends shaping the future of tax services, including increased automation, the growing role of data analytics, and the evolving client expectations. We'll discuss how tax professionals can adapt and thrive in this dynamic environment.
Conclusion:
The 2020 tax year presented unprecedented challenges for tax professionals. By understanding the key legislative changes, implementing best practices, and avoiding common pitfalls, tax professionals can provide accurate and efficient services while maintaining high ethical standards and building strong client relationships. Staying updated on tax law changes and adapting to technological advancements is crucial for future success in the field of 2020 tax professional accounting & tax service.
FAQs:
1. What were the most significant changes introduced by the CARES Act affecting 2020 taxes? The CARES Act significantly impacted 2020 taxes by expanding eligibility for unemployment benefits, providing stimulus checks, and altering certain deductions and credits.
2. How can I avoid common errors in reporting unemployment compensation? Ensure accurate reporting of the total amount received and correctly identifying the relevant tax forms.
3. What are the best strategies for managing client communication effectively? Utilize various communication channels, provide timely updates, and maintain clear and concise communication.
4. What technological advancements are most beneficial for 2020 tax preparation? Cloud-based accounting software, tax preparation software, and secure client portals.
5. What are some key ethical considerations for tax professionals? Maintaining confidentiality, avoiding conflicts of interest, and adhering to professional codes of conduct.
6. How can I stay up-to-date on changes in tax law? Subscribe to professional journals, attend continuing education courses, and follow reputable tax news sources.
7. What are some strategies for year-end tax planning? Tax loss harvesting, retirement contributions, and charitable giving.
8. What are the implications of the IRS's increased use of data analytics? Increased scrutiny of tax returns and a greater need for accuracy and transparency.
9. What are the future trends in tax preparation and accounting? Automation, data analytics, and personalized client services.
Related Articles:
1. Understanding the CARES Act and its Impact on 2020 Tax Returns: This article provides a detailed explanation of the CARES Act provisions relevant to the 2020 tax year.
2. Best Practices for Utilizing Tax Software in 2020: This article explores different tax software options and provides best practices for maximizing their use.
3. Avoiding Common Pitfalls in Reporting Stimulus Payments: This article focuses specifically on the accurate reporting of stimulus payments on 2020 tax returns.
4. Ethical Considerations in Handling Client Data During Tax Season: This article delves into the ethical responsibilities of protecting client data.
5. The Role of Technology in Modern Tax Preparation: This article discusses the evolving role of technology in tax preparation and accounting.
6. Effective Client Communication Strategies for Tax Professionals: This article provides practical strategies for building strong client relationships through effective communication.
7. Year-End Tax Planning Strategies for 2020: This article provides practical tips and strategies for optimizing tax outcomes for the upcoming tax year.
8. Staying Current with Tax Law Changes: Resources and Strategies: This article lists resources for staying updated on the ever-changing tax landscape.
9. The Future of Tax Professionals: Adapting to Technological Advancements: This article explores how tax professionals can adapt to the changing landscape and thrive in the future.
| 2020 tax professional accounting tax service: 1040 Quickfinder Handbook Practitioners Publishing Co. Staff, 2005-12-01 Contains extensive coverage of the tax issues faced by all types of contractors, including large and small contractors, homebuilders, and other specialty trades, provides you with the clear, concise guidance you need to expertly address your tax issues. |
| 2020 tax professional accounting tax service: Global Accounting: 2021 & Beyond Cecil K. Nazareth, 2022-02-24 As the world grows increasingly connected, global accounting standards are converging. Whether practitioners, CFOs, controllers or students, top U.S. accountants know it's essential to understand International Financial Reporting Standards (IFRS) thoroughly if they are advising their companies (or clients) who do business across borders. Likewise, non-U.S. accountants know they must now understand the nuances of US GAAP (Generally Accepted Accounting Principles). Global Accounting: 2021 and Beyond helps financial professionals worldwide understand the similarities and differences between US GAAP and IFRS. As a result, they're better equipped to advise foreign corporations operating in the U.S. and U.S. companies operating abroad. Written by Cecil K. Nazareth ACA, CPA, MBA, a widely-respected thought leader in international tax and accounting circles. A member of the AICPA's International Tax Issues Task Force Nazareth shares his three-decades of international tax and accounting expertise, with a heavy emphasis on small to midsize companies, subsidiaries of foreign parents, and high-net-worth individuals and families across the globe. He's a highly sought-after speaker and university professor for both national and international locations. Tax firms around the world call Cecil to conduct sessions for their teams. He's also the author of International Tax & Compliance Handbook (2018). |
| 2020 tax professional accounting tax service: Federal Tax Accounting Stephen F. Gertzman, 2017 |
| 2020 tax professional accounting tax service: Taxpertise Bonnie Lee, 2009-07-01 Taxpayer champion and enrolled agent Bonnie Lee puts the IRS under the microscope and uncovers proven methods, and surprisingly simple strategies to minimize your taxable income, maximize deductions, and, ultimately—add thousands back to your business’ bottom line! Do you owe an insurmountable sum to the IRS? Pay pennies on the dollar. Secret formula the IRS uses to determine an acceptable offer is revealed—Page 246 Save tax dollars simply by reorganizing your workspace—Page 17 Stuff tax dollars back into your pocket by fixing errors on your balance sheet—Page 50 Eat tax-free! Some meal expenses are 100 % deductible. Find out what qualifies—Page 56 Got a great hobby you’re turning into a bona fide business? Deduct the losses by following these guidelines—Page 99 Is your home office a red flag?—Page 107 You inherited Grandma’s house. Do you have to pay taxes on it?—Page 121 Can you write off your clothing?—Page 133 Under IRS audit? Learn “audit speak” to deal effectively with the IRS—Page 215 |
| 2020 tax professional accounting tax service: Tax-Free Wealth Tom Wheelwright, 2013-02-28 Tax-Free Wealth is about tax planning concepts. It’s about how to use your country’s tax laws to your benefit. In this book, Tom Wheelwright will tell you how the tax laws work. And how they are designed to reduce your taxes, not to increase your taxes. Once you understand this basic principle, you no longer need to be afraid of the tax laws. They are there to help you and your business—not to hinder you. Once you understand the basic principles of tax reduction, you can begin, immediately, reducing your taxes. Eventually, you may even be able to legally eliminate your income taxes and drastically reduce your other taxes. Once you do that, you can live a life of Tax-Free Wealth. |
| 2020 tax professional accounting tax service: RIA Federal Tax Handbook , 2001 |
| 2020 tax professional accounting tax service: Audit and Accounting Guide Depository and Lending Institutions AICPA, 2019-11-20 The financial services industry is undergoing significant change. This has added challenges for institutions assessing their operations and internal controls for regulatory considerations. Updated for 2019, this industry standard resource offers comprehensive, reliable accounting implementation guidance for preparers. It offers clear and practical guidance of audit and accounting issues, and in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Topics covered include: Transfers and servicing; Troubled debt restructurings; Financing receivables and the allowance for loan losses; and, Fair value accounting This guide also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters. The financial services industry is undergoing significant change. This has added challenges for institutions assessing their operations and internal controls for regulatory considerations. Updated for 2019, this industry standard resource offers comprehensive, reliable accounting implementation guidance for preparers. It offers clear and practical guidance of audit and accounting issues, and in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Topics covered include: Transfers and servicing; Troubled debt restructurings; Financing receivables and the allowance for loan losses; and, Fair value accounting This guide also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters. |
| 2020 tax professional accounting tax service: Taxation for Decision Makers, 2020 Shirley Dennis-Escoffier, Karen A. Fortin, 2019-08-13 Taxation 2020 introduces all relevant tax topic covered in the CPA exam to undergraduate or graduate students in one-semester introductory tax courses. Offering a decision-making approach to the material, this comprehensive yet accessible text maintains the appropriate balance between concepts and specifics. Twelve concise, student-friendly chapters supply sufficient details to build upon for future careers in taxation and consulting while avoiding the minutiae rarely seen in everyday practice. The new tenth edition covers basic taxation of individuals, corporations, S corporations, partnerships, and fiduciary entities. An emphasis on tax planning helps students understand the effect taxation has on decisions for both individuals and entities. Thoroughly updated for the coming tax year, this textbook covers fundamental areas of taxation and its environment including business and property concepts, property dispositions, business and wealth taxation, and income, expenses, and individual taxes. A wealth of instructor resources includes two solutions manuals—one of which provides solutions to the Research and Tax Return problems—an extensive test bank, and PowerPoint slides. Engaging, highly-readable text enables instructors to assign students out-of-class readings and spend classroom time on more complex topics. |
| 2020 tax professional accounting tax service: Self-employment Tax , 1988 |
| 2020 tax professional accounting tax service: County and City Extra 2020 Deirdre A. Gaquin, Mary Meghan Ryan, 2021-01-05 When you want only one source of information about your city or county, turn to County and City Extra. This trusted reference compiles information from many sources to provide all the key demographic and economic data for every state, county, metropolitan area, congressional district, and for all cities in the United States with a 2010 population of 25,000 or more. In one volume , you can conveniently find data from 1990 to 2019 in easy-to-read tables. The annual updating of County and City Extra for 28 years ensures its stature as a reliable and authoritative source for information. No other resource compiles this amount of detailed information into one place. Subjects covered in County and City Extra include: Population by age and race Government finances Income and poverty Manufacturing, trade, and services Crime Housing Education Immigration and migration Labor force and employment Agriculture, land, and water Residential construction Health resources Voting and elections The main body of this volume contains five basic parts and covers the following areas: Part A-States Part B-Counties Part C-Metropolitan areas Part D-Cities with a 2010 census population of 25,000 or more Part E-Congressional districts In addition, this publication includes: Figures and text in each section that highlight pertinent data and provide analysis Ranking tables which present each geography type by various subjects including population, land area, population density, educational attainment, housing values, race, unemployment, and crime Multiple color maps of the United States on various topics including median household income, poverty, voting, and race Furthermore, this volume contains several appendixes which include: Notes and explanations for further reference Definitions of geographic concepts A listing of metropolitan and micropolitan areas and their component counties A list of cities by county Maps showing congressional districts, counties, and selected places within each state |
| 2020 tax professional accounting tax service: Farmer's Tax Guide , 1998 |
| 2020 tax professional accounting tax service: Tax Accounting A.J. Bakker, Tjeerd van den Berg, 2020 |
| 2020 tax professional accounting tax service: Business Statistics of the United States 2020 Susan Ockert, 2021-01-05 Business Statistics of the United States is a comprehensive and practical collection of data from as early as 1913 that reflects the nation's economic performance. It provides several years of annual, quarterly, and monthly data in industrial and demographic detail including key indicators such as: gross domestic product, personal income, spending, saving, employment, unemployment, the capital stock, and more. Business Statistics of the United States is the best place to find historical perspectives on the U.S. economy. Of equal importance to the data are the introductory highlights, extensive notes, and figures for each chapter that help users to understand the data, use them appropriately, and, if desired, seek additional information from the source agencies. Business Statistics of the United States provides a rich and deep picture of the American economy and contains approximately 3,500 time series in all. The data are predominately from federal government sources including: Board of Governors of the Federal Reserve System Bureau of Economic Analysis Bureau of Labor Statistics Census Bureau Employment and Training Administration Energy Information Administration Federal Housing Finance Agency U.S. Department of the Treasury |
| 2020 tax professional accounting tax service: U.S. Master Tax Guide , 1921 |
| 2020 tax professional accounting tax service: Guide to Limited Liability Companies Tom Cody, Dem A. Hopkins, Lawrence A. Perlman, Linda L. Kalteux, 2007 This revised handbook provides a concise discussion of the limited liability company (LLC), the popular alternative business form for small- and medium-sized enterprises that strategically combines the pass-through tax advantages and operational flexibility of the partnership with the limited liability of the corporation. The Guide explains, in clear language, key information about the benefits available within the LLC format, and a synopsis of each state's LLC statute enables you to quickly identify relevant planning opportunities or potential pitfalls. Book jacket. |
| 2020 tax professional accounting tax service: The Tax executive , 1987 |
| 2020 tax professional accounting tax service: Tax Savvy for Small Business Frederick W. Daily, 2001 Despite popular opinion, it is possible to run a profitable, honest business while minimizing taxes and staying out of legal trouble. Tax Savvy for Small Business helps readers do just that, detailing year-round tax-saving strategies for: -- claiming all legitimate deductions -- maximizing fringe benefits -- keeping accurate records -- documenting expenses -- surviving an audit The 5th edition provides the most current IRS rules, the latest tax codes and a new chapter of Frequently Asked Questions. |
| 2020 tax professional accounting tax service: Fundamentals of Tax Preparation United States. Internal Revenue Service, 1979 |
| 2020 tax professional accounting tax service: Your Federal Income Tax for Individuals United States. Internal Revenue Service, 1986 |
| 2020 tax professional accounting tax service: Fundamentals of Individual Tax Preparation: A Concise Study Guide for Individual Tax Preparation Ferey Kian Ea, 2018-08-30 |
| 2020 tax professional accounting tax service: Tax Avoidance, Accounting and Financial Reporting. The Perspective of the Visegrad Group Countries and Serbia Piotr Luty, 2022-05-05 Jest to pierwsza z trzech monografii poświęconych unikaniu opodatkowania w krajach Europy Środkowej i Wschodniej, finansowana w ramach projektu z Międzynarodowego Funduszu Wyszehradzkiego. Autorami rozdziałów są naukowcy w Polski, Czech, Serbii i Portugalii. Prezentowane w niej zagadnienia obejmują unikanie opodatkowania z perspektywy podstawowego systemu informacyjnego spółek – systemu rachunkowości. W książce mówiono wartości niematerialne i prawne oraz rzeczowe aktywa trwałe w kontekście unikania opodatkowania, a także poruszono zagadnienie raportowania finansowego w kontekście ustalania efektywnej stopy opodatkowania |
| 2020 tax professional accounting tax service: Individual retirement arrangements (IRAs) United States. Internal Revenue Service, 1990 |
| 2020 tax professional accounting tax service: Fraud in Accounting and Taxation and Its Detection. The Practice of Central and Eastern European Countries Piotr Luty, 2022-06-21 Monografia jest drugą z trzech publikacji zaplanowanych w ramach projektu „Experience-sharing of Visegrad countries to tax avoidance activity”. Praca powstała przy współudziale autorów krajów Europy Środkowo-Wschodniej. Składa się z pięciu rozdziałów. W pierwszych trzech poruszana jest tematyka związana z różnymi sposobami wykrywania oszustw na podstawie sprawozdań finansowych spółek, z oceną ryzyka podatkowego, a także z wdrażaniem rozwiązań prawnych służących do minimalizowania unikania opodatkowania. Dwa ostatnie rozdziały poświęcone są robotyzacji i automatyzacji procesów rachunkowości w celu eliminowania nadużyć podatkowych oraz zaprezentowaniu nowych narzędzi do ujawniania oszustw podatkowych (w tym na podatku VAT). |
| 2020 tax professional accounting tax service: Bloomsbury's GST Tariff 2020 Bloomsbury Professional India, 2020-12-30 Contents of the book Part A: GST Tariff – Goods (HSN code-wise) Part B: GST Tariff – Services (Service code-wise) Part C: Scheme of Classification of Services with explanatory notes Part D: GST Tariff Notifications CGST Notifications IGST Notifications Compensation Cess Notifications Highlights HSN Code-wise GST Tariff for goods Service Code-wise GST Tariff for services Updated text of CGST/IGST Tariff notifications Scheme of classification of services with explanatory notes |
| 2020 tax professional accounting tax service: Federal Taxation of Income, Estates, and Gifts Boris I. Bittker, Lawrence Lokken, 1999 Vol. 3 also issed as rev. 3rd ed. ; rev. 3rd edition of other vols. not planned. |
| 2020 tax professional accounting tax service: Rates of Taxes on Services under the Goods and Services Tax Act, 2017 as on 1st April, 2022 with case laws. K Hyder Vali M.A., LL.B., 2022-06-06 This Book Contains: 6 Digits Service Account Codes (SAC) for all the Services. Service-wise Index to all the Services liable to Service Tax under GST Act,2017. Index to Explanatory Notes to the Scheme of Classification of Services Annexure (Service Description, Service Code (Tariff) (Chapter, Section, Heading/Group) Published by the CBIC. All Amendments made in respect of Entries and Rate of Taxes and Exemptions from July, 2017 upto 1st April, 2022. Meanings to all the words and definitions referred in Service Tax Notifications. Case laws rendered by Hon’ble Supreme Court and the Hon’ble High Courts and various Advance Ruling Authorities(AAR), Appellate Advance Ruling Authorities(AAAR) from July, 2017 upto 1st April, 2022. Most useful to all the Tax Practitioners, Chartered Accountants, Bar and Bench, GST Departmental Officers & Service Providers as well throughout India. |
| 2020 tax professional accounting tax service: Tax Withholding and Estimated Tax , 1993 |
| 2020 tax professional accounting tax service: Accounting for Deferred Income Taxes Bobby Carmichael, 2020-06-10 A complicated accounting model, FASB ASC 740 has been around for a while. But the rules are becoming more challenging as businesses become more complex. This book incorporates the new tax rates and other impacts of the Tax Cuts and Jobs Act and will assist you in understanding FASB ASC 740, Income Taxes, and how it establishes guidelines for accounting for income taxes, including income tax expense, classification of deferred tax accounts, and related disclosures. Key topics include: Principles of FASB ASC 740 Income tax expense and deferred tax liabilities and assets Valuation allowances Proper documentation of deferred income taxes in the work papers Required disclosures within the financial statements |
| 2020 tax professional accounting tax service: Advances in Taxation John Hasseldine, 2021-10-19 Advances in Taxation is essential reading for those looking to keep abreast of the most recent research, including empirical studies using a variety of research methods from different institutional settings and contexts. |
| 2020 tax professional accounting tax service: Survey of Current Business , 2007 |
| 2020 tax professional accounting tax service: Intermediate Accounting, Volume 2 Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, 2019-04-16 This is the unbound, loose-leaf version of Intermediate Accounting, 17th Edition, Volume 2. This book is written by industry thought leaders, Kieso, Weygandt, and Warfield and is developed around one simple proposition: create great accountants. Upholding industry standards, this edition incorporates new data analytics content and up-to-date coverage of leases, revenue recognition, financial instruments, and US GAAP & IFRS. While maintaining its reputation for accuracy, comprehensiveness, and accessibility, Intermediate Accounting drives results by helping students build professional competencies through reliable problem material. |
| 2020 tax professional accounting tax service: The Nonprofit Manager's Resource Directory Ronald A. Landskroner, 2002-05-14 A newly revised and updated edition of the ultimate resource for nonprofit managers If you're a nonprofit manager, you probably spend a good deal of your time tracking down hard-to-find answers to complicated questions. The Nonprofit Manager's Resource Directory, Second Edition provides instant answers to all your questions concerning nonprofit-oriented product and service providers, Internet sites, funding sources, publications, support and advocacy groups, and much more. If you need help finding volunteers, understanding new legislation, or writing grant proposals, help has arrived. This new, updated edition features expanded coverage of important issues and even more answers to all your nonprofit questions. Revised to keep vital information up to the minute, The Nonprofit Manager's Resource Directory, Second Edition: * Contains more than 2,000 detailed listings of both nonprofit and for-profit resources, products, and services * Supplies complete details on everything from assistance and support groups to software vendors and Internet servers, management consultants to list marketers * Provides information on all kinds of free and low-cost products available to nonprofits * Features an entirely new section on international issues * Plus: 10 bonus sections available only on CD-ROM The Nonprofit Manager's Resource Directory, Second Edition has the information you need to keep your nonprofit alive and well in these challenging times. Topics include: * Accountability and Ethics * Assessment and Evaluation * Financial Management * General Management * Governance * Human Resource Management * Information Technology * International Third Sector * Leadership * Legal Issues * Marketing and Communications * Nonprofit Sector Overview * Organizational Dynamics and Design * Philanthropy * Professional Development * Resource Development * Social Entrepreneurship * Strategic Planning * Volunteerism |
| 2020 tax professional accounting tax service: County Business Patterns, California , 1999 |
| 2020 tax professional accounting tax service: SEC Reporting BDO USA, 2020-05-18 This title clarifies new, difficult, and important reporting and disclosure requirements for SEC Reporting. You'll learn: The latest SEC developments and hot buttons. How to apply regulations S-X, S-K, and other SEC guidance. How to prepare and review financial statements and their related disclosures. It includes AS 3101, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion. |
| 2020 tax professional accounting tax service: Annual Update and Practice Issues for Preparation, Compilation, and Review Engagements Hugh Parker, Kimberly Burke, 2020-07-01 A practice-oriented review of the latest developments related to SSARS Nos. 21-24, this title includes a wide range of issues, including: Developments in the conceptual framework New and proposed independence interpretations Consideration of materiality in a review engagement Going concern considerations Restatement of prior year financial statements |
| 2020 tax professional accounting tax service: Republic, Lost Lawrence Lessig, 2015-10-20 Harvard Law School professor Lawrence Lessig investigates the most vexing problem in American democracy: how money corrupts our nation's politics, and the critical campaign to stop it. In an era when special interests funnel huge amounts of money into our government-driven by shifts in campaign-finance rules and brought to new levels by the Supreme Court in Citizens United v. Federal Election Commission-trust in our government has reached an all-time low. More than ever before, Americans believe that money buys results in Congress, and that business interests wield control over our legislature. With heartfelt urgency and a keen desire for righting wrongs, Harvard law professor Lawrence Lessig takes a clear-eyed look at how we arrived at this crisis: how fundamentally good people, with good intentions, have allowed our democracy to be co-opted by outside interests, and how this exploitation has become entrenched in the system. Rejecting simple labels and reductive logic-and instead using examples that resonate as powerfully on the Right as on the Left-Lessig seeks out the root causes of our situation. He plumbs the issues of campaign financing and corporate lobbying, revealing the human faces and follies that have allowed corruption to take such a foothold in our system. He puts theissues in terms that nonwonks can understand, using real-world analogies and real human stories. And ultimately he calls for widespread mobilization and a new Constitutional Convention, presenting achievable solutions for regaining control of our corrupted-but redeemable-representational system. In this way, Lessig plots a roadmap for returning our republic to its intended greatness. While America may be divided, Lessig vividly champions the idea that we can succeed if we accept that corruption is our common enemy and that we must find a way to fight against it. In Republic Lost, he not only makes this need palpable and clear-he gives us the practical and intellectual tools to do something about it. |
| 2020 tax professional accounting tax service: Strauss's Handbook of Business Information Hal P. Kirkwood, 2020-08-24 This new edition of Strauss's guide helps users to find current information for and about businesses of all kinds—both private and public, U.S.-based and international—related to finance, investment, industries, and entrepreneurship. Strauss's Handbook of Business Information is a resource for finding and understanding business information. It contains explanation and instruction on the key facets of business information and provides detailed descriptions of key resources within both broad and specific categories. It can be used as a guide to further understanding the what, how, and why of business information research. The changing arena of business information requires regular updating and awareness. This new edition has been thoroughly updated with three new chapters: Entrepreneurship, Competitive Intelligence, and Corporate Social Responsibility. Other additions of note include subsections on internet and mobile marketing and tax havens and related issues; coverage of new legislation (e.g., Dodd-Frank); and subsections on index funds, investment communities, regulatory bodies and laws, hedge funds, venture capital companies, assessing risks, robo-advisors, and more. The Handbook is for students, faculty, librarians, and information professionals looking to gain a broader and deeper understanding of business information. Anyone needing to gain quick exposure to business information needs and resources for solutions will benefit from the volume as well. |
| 2020 tax professional accounting tax service: Tax Deductions for Professionals Stephen Fishman, 2022-01-25 Millions of Americans are now working at home due to the Coronavirus pandemic. It’s likely that many will never return to the office. This book shows home business owners how to minimize their taxes by taking every deduction to which they are entitled. These valuable deductions include: start-up expenses home office deduction vehicles, travel, and meal expenses health expenses 20% pass-through deduction, and retirement deductions. This new edition also covers all latest changes in the tax laws brought about by the COVID-19 relief legislation passed by Congress. These brand new tax breaks can save home business owners thousands in taxes: new sick leave and family leave tax credits for self-employed business owners, employee retention credit, tax-free treatment of landlord PPP loans, and liberalized rules for deducting net operating losses. |
| 2020 tax professional accounting tax service: Audit and Accounting Manual AICPA, 2020-09-16 This comprehensive, step-by-step guide provides a plain-English approach to planning and performing audits. In one handy resource, you'll find applicable requirements and how-to advice. This edition includes updates for the issuance of SAS No. 133, Auditor Involvement with Exempt Offering Documents. Update boxes have been added for SAS No. 134, 137, 138 and 139. You’ll find illustrative examples, sample forms and helpful techniques ideal for small- and medium-sized firms. |
| 2020 tax professional accounting tax service: Taxpayer's Comprehensive Guide to LLCs and S Corps Jason Watson, WCG Inc, 2021 This is our ninth edition (2021-2022 Edition). How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of knowledge base posts on the WCG website. The articles touched on basic topics such as how to elect S Corp status, shareholder payroll, reasonable salary determination and liability protection. Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code... -- |
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