Business Strategies

Using S Corporations to Minimize FICA And Medicare Tax

When United States Tax Court Judge Paris issued the opinion in the case of Ryan Fleischer in 2016 , it caused quite a stir in the tax blogosphere. And from what I have been able to gather off the record it remains of interest. The Fleischer decision makes it very difficult, if not impossible for some financial professionals to use S corporations to mitigate self-employment tax. Rather than attack on reasonable salary, the IRS took an assignment of income approach, which succeeded throwing planners for financial professionals like Fleischer into a bit of an uproar...

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Think Outside the Tax Box provides tax reduction strategies along with practical implementation advice in order to reduce your clients’ federal tax bill with ease.

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CURRENT EDITION

Summertime Marketing in Your Tax & Accounting Firm

Timalyn Bowens, EA

Tax season is prosperous, summer is dry until extension season. Do you find yourself in that cycle? Clients are “easy” to get during tax season when taxes are top of mind. Then the direct deposits go dry by June, and you are looking for what’s next. Stop the search, you don’t have to add another service. You need better marketing to highlight the service that you offer and specialize in. This will allow you to have a predictable client pipeline. You can do tax preparation, planning, and or representation all year long.

Observations on the House-Passed OBBB

Annette Nellen, CPA, CGMA, Esq.

This article focuses on the OBBB from the House offering a variety of observations to help understand the range of changes, relevance to compliance and planning, process considerations and some unexpected provisions. While the final OBBB will not include all of the House provisions or will modify some of them, there are lessons to learn to understand the tax legislation process and results now and in the future.

Client Retention as a Prospecting Strategy: Turning Current Clients into Referral Sources

Marie Torossian, CPA

In the competitive accounting world, where trust and reliability are paramount, client retention is not just a success metric—it’s a vital strategy for sustainable growth. For Certified Public Accountants (CPAs), accountants, and bookkeepers, maintaining a solid relationship with existing clients can unlock new business opportunities, turning satisfied clients into powerful referral sources.