A new school year is here and, for many families, so are the worries over the cost of tuition and other college expenses. The cost keeps skyrocketing every academic year, and these days that diploma comes with an average of almost $29,000 in debt for most graduates. Many of them also carry that debt well into middle age. Families paying for these educations need every break they can get. The federal government offers education tax credits (and other tax breaks on college costs), but don’t assume your client has the brain space at this stage of life to learn about them. Even your clients who can afford college would appreciate learning about ways to save on higher education. Here’s what to tell them.

Networking has transcended physical boundaries into a digital world in the last five years. Of all the social media platforms, LinkedIn stands out as ideal for professionals across industries to connect, engage, and build meaningful relationships. For accountants, leveraging LinkedIn effectively can be a game-changer in expanding their professional network, attracting clients, and establishing thought leadership. In this article, I will discuss how accountants can harness LinkedIn's power to enhance their visibility, credibility, and business success. Some features are only available in Business or premium membership. Still, I am providing you with all the resources LinkedIn offers. Let's get started.

Twice in my four-decade career, two special agents from IRS Criminal Investigation (CI) entered my office armed with a search warrant, firearms at their side. In both cases, it started the same way.

Today’s criminals are using more than hooks and lines (more like huge trawling nets), and they are looking for small as well as really big fish. If you think your tax practice is too small to be a target, you’re wrong. And you probably know that. You are probably well aware of the phishing and smishing (using SMS/text messaging) attempts that try to gain access to your firm’s computers and/or computer network.

Are you aware of your responsibilities when it comes to securing data? Do you know what your software vendor is doing with your data—and, more importantly, your client’s data? Signing up for a new service or software is often done without any thought of the consequences to the data that you are legally required to protect. The average tax professional uses many different types of software and services when working with a client. Many tax pros are unaware that this often requires consent to be obtained prior to using their client’s information and that failure to do so can result in significant fines and even criminal penalties.

Every tax season brings out the crooks and scammers trying to steal money and sensitive information using tax-related schemes, and even though we’re still a few months out from the beginning of filing season, it’s important to always be aware of threats out there and how you can combat them. Tax authorities like the IRS have countered these scams with electronic defenses that offer protection for both clients and tax preparers. Here’s a look at a few.

Much happening, even in August. This has hardly been a lazy hazy summer.

For wealthy families, the world of finance can feel like a high-stakes chess game. With increasing state and federal income tax rates, new tax laws on the horizon, and the complexities of private investments like hedge funds, finding ways to grow and transfer wealth efficiently is more important than ever. Enter life insurance—a tool not just for its traditional role of providing death benefits but as a strategic ally in tax-efficient wealth management. In particular, Private Placement Life Insurance (PPLI) offers unique advantages that make it a worthy consideration for those with sophisticated financial needs and significant liquidity.