EQ Accountants’ Post

In his latest article with Professional Paraplanner, Technical Team Manager, Justin Corliss FPFS discusses the Consumer Duty and how advice firms can measure the value they bring to their clients. Want to know more? Click the link below https://ow.ly/7PhM50SMhc1

Good article by Alistair Begg

"I'm not sure what a chamber of commerce is without ______" How would you finish that sentence? Tell us in the comments! Check out this short clip from our recent webinar conversation with SC Chamber President & CEO Bob Morgan and hear exactly how he finished that sentence and why. (hint: we couldn't agree more) https://bit.ly/4aEBtrF

Tax season is upon us! Whether you prepare your own return or hire a professional, making sure your financial advisor understands your tax situation is essential for making optimal tax planning decisions. Here are just a few of the topics you should be thinking about: - Does it make sense to contribute to an IRA before the tax filing deadline? If so, which kind makes more sense? - Have I implemented an asset location strategy to make sure my investments are held in the account with the most advantageous tax treatment? - Am I taking advantage of tax-loss harvesting opportunities in my taxable investment account? - Are my tax withholdings throughout the year positioning me for a minimal tax refund or bill owed? If you're feeling unresolved about any of these topics or are curious about your own tax situation, don't hesitate to reach out!

𝐄𝐩𝐢𝐬𝐨𝐝𝐞 𝟏: 𝐏𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐁𝐚𝐫𝐠𝐚𝐢𝐧𝐢𝐧𝐠: 𝐓𝐡𝐞 𝐁𝐞𝐬𝐭 𝐖𝐚𝐲 𝐭𝐨 𝐊𝐢𝐜𝐤 𝐎𝐟𝐟 𝐍𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐢𝐨𝐧𝐬? "Positional bargaining is efficient and clear, but it also carries the risk of damaging relationships and long-term value." — Daniel Shapiro Positional bargaining, where parties take firm stances from the start, can streamline negotiations and set clear boundaries. However, relying too heavily on this approach can harm relationships and limit collaborative opportunities, making it important to balance its benefits with more flexible strategies. Meet Daniel in person at the Negotiation Conference 2024: https://lnkd.in/edW_Ww9Y

Waypoint Private Capital's latest article in In Business Magazine, 'Proven Strategies to Increase Business Value,' is a must-read for business owners. It highlights how early preparation can lead to a more profitable sale. Dive into the article for valuable steps to enhance your business's worth before selling. Share your thoughts! How else can business owners boost their company's value? https://lnkd.in/gmdf_8zF"

What I love about #taxrepresentation is being able to provide a breath of fresh air to taxpayers who are frantic about their tax debt. Last week alone, I spoke with 2 taxpayers who had the same concerns. "Am I going to prison for not filing my taxes for the last 3 years" My short answer was no. My more detailed answer was a question. I wanted to know why the taxpayer hadn't filed in the last 3 years. What circumstances were they facing? As accountants, most of us have IQ. But without EQ and #emotionalintelligence, you won't go far in this business. The human element helps me better advocate for my clients. I was able to calm their concerns, and provide a plan of action to get them back into compliance with the IRS and the state. At the end of the call we shared a laugh that doubled as a sigh of relief. That's the most fulfilling part of my practice. Lesson of the story: Before your negotiate your tax debt, you need to have filed the last 6 years of tax returns. After those 6 years of tax returns are filed, we can then begin negotiating your tax debt with the IRS and state. If you have tax debt and have stopped paying it, or stopped filing subsequent returns, my best advice would be to file those missing return, get a good understanding of your total debt and find a great tax professional to help negotiate your debt. If you or someone you know needs help with tax debt over $50,000, let's figure it out together. https://lnkd.in/ek4skH8U #enrolledagent #taxdebt

Our commitment to our clients is deeply rooted in a genuine desire to understand their unique challenges and visions. This foundational principle was clearly illustrated in our collaboration with Guy Licata from Reflexx. Learn more - https://lnkd.in/eT9rWma2

Join the Next See Me Series: Voices of Diversity: Asian American and Pacific Islander Journeys in Accounting on April 25th!

The IRS has raised its penalty interest rate for individuals, to 8% per year. Failure to keep up with your tax payments or withholding may cause the IRS to assess a penalty for underpayment of estimated taxes.  The amount of the penalty is determined by the balance still owed after you’ve filed your annual tax return. The IRS charges its 8% interest rate until the balance is paid in full. By following this checklist, you can manage your estimated taxes more efficiently and avoid any surprises when tax time rolls around.  Remember, staying proactive about your taxes is crucial for maintaining the financial health of your business. Consulting with a tax professional can provide personalized guidance tailored to your specific financial situation, helping to ensure that your estimated tax payments are accurate. Schedule a call with us today to learn more.  https://lnkd.in/g8ZtvDyW #TaxTips #SmallBusinessSupport #bookkeeping #accounting #bookkeeper #quickbooks #InteriorDesigner #InteriorDesigners #InteriorDesignerslife #Architect #Architects #Architecture #WappingersFallsBookkeeper #WappingersFallsAccountant #NewYorkBookkeeper #NewYorkAccountant #MTYBookkeeping