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TO REDUCE TAX?
New tax reduction strategies carefully explained and exhaustively researched every two weeks. Receive breaking news updates on tax law changes. Members only monthly AMA with TOTTB.tax.
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FEATURED CONTENT
Any Port in The Storm – Tax Strategies for Boat Owners (Part 2 of 2)
Ever thought of using a recreational vehicle like a boat to lower your taxes? Yes, it’s possible using the right strategies, and there’s no time like the present to make that happen. Even more than pre-pandemic taxpayers may be considering buying their own island. Those for whom buying an actual island is beyond the budget may be considering buying a boat or an RV for use as a residence, an office, or both. Whatever the type of use, there are tax strategies available for boat owners if they meet the requirements. As with any tax strategy it is important to have a full understanding of the requirements to ensure the deduction is legal and to ensure the taxpayer can substantiate the deduction should the tax authorities examine the return. This is the first of two articles discussing the tax strategies available to boat owners. Part 1 focuses on using a boat as a residence, but if that doesn’t meet your needs, stay tuned because Part 2 will cover boats for business use (including as a home office). Why not consider both options and see how your tax savings can help fund your floating condo? Keep reading to learn more.
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CURRENT EDITION
Summertime Marketing in Your Tax & Accounting Firm
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
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
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.
SIMPLIFIED TAX STRATEGIES &
PRACTICAL IMPLEMENTATION
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.
