Business Strategies

Why and How to Fire Clients

Cutting some clients loose is challenging yet vital. You can only hope for so long that a difficult client will improve before you have to make the decision that he or she simply isn’t worth it to your bottom line. Some clients also make it harder to service your good clients – if not risk your reputation and expose you to a malpractice claim. When you consider firing a client, you do have to trust your gut – but some objective measurements can point you to the right decision. Here are the signs of a bad (and potentially bad) client and formulas and tips to tell if you can do without their business.

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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

Qualified Opportunity Zones After the One Big Beautiful Bill Act: What’s Changed and What It Means for Real Estate Investors

Joshua Youngblood, EA, CTRS, CRETS, NTPI Fellow

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) became law, representing the most significant reform of the QOZ program since its inception. It made the program permanent, tightened eligibility rules, introduced a rural-focused investment vehicle, and imposed robust reporting requirements. For tax professionals and investors, understanding these changes isn’t just about compliance – it’s also about strategy.

Vibe Preparing: Ignoring Partnership Agreement Impacts on K1s

Roger Ledbetter, CPA

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Deducting Gambling Losses: Part 2: Sessions Method

Keith Schroeder, EA

Recently I polled my peers on a social media platform dedicated to tax professionals. My hope was to find a resource for tax rules on a state level for handling gambling sessions. I knew it would be an uphill battle to get the information needed for a comprehensive guide state-by-state.
What surprised me was the response. A large percentage of tax professionals were either unaware of gambling sessions or were unclear on how gambling sessions were handled in their state. Since gambling sessions might be the best way to reduce taxes on gambling wins, a lot of money might be left on the table with clients paying the price. Even if the state a tax professional prepares most tax returns for does not have gambling, the likelihood a client travels to a state that does, gambles, and wins is high.