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Trump Accounts MAGA Accounts: CPA Guide to the New OBBBA Savings Vehicle The One Big Beautiful Bill Act OBBBA created a new federal savings account for children
The Best Niches for a Small CPA Firm: How to Specialize and Command Premium Fees The most consistently profitable small CPA firms in the country share one trait
How to Defend Employee Retention Credit Claims in an IRS Audit The IRS processed nearly $230 billion in ERC claims before issuing a moratorium on new filings in
Inheritance vs. Gift: Tax Implications CPAs Must Know for Client Advice Neither a gift nor an inheritance triggers federal income tax for the recipient at the m
How to Handle an IRS Levy or Wage Garnishment for a Client An IRS levy is the legal seizure of a taxpayer's property or rights to property to satisfy a tax debt
How the IRS DIF Score Works: What CPAs Need to Know About Return Selection The IRS does not audit randomly. Every Form 1040, 1120-S, and 1065 filed electronical
Advising Clients Who Want to Bring On Investors: S-Corp vs C-Corp Considerations When a business owner says "I want to bring on investors," the first question a
Can an LLC Be Taxed as an S-Corp in Every State? Short answer: No. A federal S-Corp election under IRC §1361 has no automatic effect on state taxes. Most states
How to Use State Pass-Through Entity Tax Elections to Bypass the SALT Cap The $10,000 SALT deduction cap imposed by the Tax Cuts and Jobs Act of 2017 P.L. 115-9
Child Tax Credit 2025: Income Limits, Phase-Outs, and How to Maximize It for Clients The Child Tax Credit CTC for 2025 is $2,000 per qualifying child under age