the abcs of building a financially healthy medical practice

portrait of reed tinsley
tinsley

checklist: 24 practice statistics you should benchmark for medical-office clients.

by reed tinsley

reed tinsley, cpa is a houston-based cpa, certified valuation analyst and health care consultant at rtacpa.com. he works closely with physicians, medical groups and other health care entities with managed care contracting issues, operational and financial management, strategic planning, and growth strategies. his entire practice is concentrated in the health care industry.

as changes continue to occur in the health care industry, physicians are taking a hard look at the numbers of a medical practice and gauging whether the year at hand will be economically successful.

to analyze the productivity of the practice, physicians depend on accurate and timely information. however, with the focus of every practice on delivering quality health care, the financial side often becomes neglected or ignored. this is where you, as their cpa, come in. read more →

deducting litigation expenses: new appellate court decision

statue of scales of justiceauditors said the activity wasn’t profit-seeking.

portrait of christopher demayo
demayo

by christopher m. demayo
withum

the fifth circuit court of appeals issued a decision on march 29, 2019, that explains some of the requirements for deducting litigation expenses.

the facts of the case are bizarre, but the controlling legal principles are not.

in a nutshell, the taxpayer was the sole shareholder of a company that was a commercial cleaning franchisor (“company”). in november 2002, the taxpayer traveled on vacation with his girlfriend and two employees of his company to the caribbean island of st. maarten, where he owned a home. one of the employees was a bodyguard and the other was a former girlfriend.

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join 卡塔尔世界杯常规比赛时间 at #aicpaengage

卡塔尔世界杯常规比赛时间 at aicpa engage 2019: from top left, cieslak, caragher, kuesel, dobek, reeb, johnston, rampe, vetter, kepczyk, george, koltin, wiley, sinkin, johnson, shimamoto, steffen, livingston, river, tankersley.
卡塔尔世界杯常规比赛时间 at aicpa engage 2019: from top left, cieslak, caragher, kuesel, dobek, reeb, johnston, rampe, vetter, kepczyk, george, koltin, wiley, sinkin, johnson, shimamoto, steffen, livingston, river, tankersley.

see you in las vegas…

by 卡塔尔世界杯常规比赛时间

if you’re going to the aicpa’s mega-conference, engage (#aicpaengage), in las vegas, june 8-13… or simply tuning in for the live streaming, don’t miss the chance to see, meet, and chat with dozens of 卡塔尔世界杯常规比赛时间’ leading expert authors and contributors, including: read more →

taxpayers deserve better receipts

businesspeople standing atop 5 stacks of coinswant to know exactly where your tax dollars go? want to vote on it?

by 卡塔尔世界杯常规比赛时间 research

here’s an idea: taxpayers should get a receipt so they can see what they’re paying for.

more: troubles with irs private debt collection | what difference does one word make? | what’s the real impact of irs audits? | tough lessons from tax season | why shouldn’t all tax practitioners need licenses? | data divers profile taxpayer filing styles | salary survey shows pay for tax professionals
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

actually, that’s already a thing, and it’s been in the internal revenue code since 1990.
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troubles with irs private debt collection

businessman sitting in office chair, covering his face with his handthe irs listed 6 risks. the gao found 10 more.

by 卡塔尔世界杯常规比赛时间

here’s a curious situation: the internal revenue service of the wealthiest nation on earth, with all its power to collect taxes – be it by withholding, by a polite letter of request, by slapping somebody’s assets with a lien, by knocking on a delinquent’s door – sometimes the irs can’t afford to collect back taxes.

more: what difference does one word make? | what’s the real impact of irs audits? | tough lessons from tax season | why shouldn’t all tax practitioners need licenses? | data divers profile taxpayer filing styles | salary survey shows pay for tax professionals | fixing the tax system: accountants sound off | the big free-file flop
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when it can’t, it gives the power and privilege to a private debt collection (pdc) agency.
read more →

the one word that changed the irs

//m.g005e.com/2019/05/09/what-difference-does-one-word-make/and why the irs now needs a new mission statement.

by 卡塔尔世界杯常规比赛时间

ten years ago, the internal revenue service changed a word in its mission statement.

more: what’s the real impact of irs audits? | tough lessons from tax season | why shouldn’t all tax practitioners need licenses? | data divers profile taxpayer filing styles | fixing the tax system: accountants sound off | 2 ways the eitc error rate is high | who’d like a friend in the irs?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

before: “provide america’s taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all.”

after: “provide america’s taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the tax law with integrity and fairness to all.”

the change was made without public discussion. it just appeared: subtle and quiet but deep and disturbing.

what’s the difference? attitude and approach. read more →

charts: tax & accounting among biggest jobs creators in u.s.

also: who’s hiring, who’s not among client business sectors.

by 卡塔尔世界杯常规比赛时间 research

the tax and accounting industry is adding jobs at the rate of 37,000 per year, according to the latest data available, making the profession one of the fastest growing sectors of the u.s. economy.

at the top of the jobs ranking are individual and family services, computer systems design and related services, amusements, gambling, and recreation, home health care services, and warehousing and storage.

meanwhile, if you have clients in apparel, printing and related support activities, commercial banking, department stores, electronics and appliance stores, telecommunications, sporting goods, hobby, book, and music stores, the outlook is not so rosy — they’re all trimming payrolls.

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a desoto at the core of the irs

technician checking something at data centerthree recommendations for overhauling irs tech.

by 卡塔尔世界杯常规比赛时间 research

the internal revenue service runs a pretty good business. for every dollar invested in its budget, it rakes in $300 in federal revenue, an annual total of $3.5 trillion on a budget of $11.43 billion.

more: what’s the real impact of irs audits? | tough lessons from tax season | data divers profile taxpayer filing styles | hello, irs? anybody home? | wanna change the tax world? | the big free-file flop | the demise of schedule a? | survey: busy season goes sour | lessons learned: how the federal shutdown hit busy season 2019
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

how odd, then, to find that the brains of the operation is a computer system that dates back to about 1960.
read more →

what’s the real impact of irs audits?

blue audit button on keyboardthree types, including one that some taxpayers don’t recognize as an audit.

by 卡塔尔世界杯常规比赛时间 research

according to harper’s magazine, more than half of all americans would rather be mugged than audited by the irs. and many americans don’t see much of a difference between the two events.

more: why shouldn’t all tax practitioners need licenses? | data divers profile taxpayer filing styles | salary survey shows pay for tax professionals | fixing the tax system: accountants sound off | 2 ways the eitc error rate is high
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and that’s a problem. because fear and loathing are not conducive to voluntary compliance.
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why shouldn’t all tax practitioners need licenses?

data chart

does a 90% error rate alarm anyone?

by 卡塔尔世界杯常规比赛时间 research

america needs tax preparers. without them … well, it’s hard to imagine how people would calculate any more than the most rudimentary returns.

more: data divers profile taxpayer filing styles | who’d like a friend in the irs? | wanna change the tax world? | the big free-file flop | survey: busy season goes sour | lessons learned: how the federal shutdown hit busy season 2019 | taxpayer advocate slams congress over funding
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the funding of the government would fall to a fraction of what is needed to sustain the nation. tax preparers are an essential link between the government and those who fund it.
read more →

salary survey shows pay for tax professionals

senior tax accountant averages $99k. more: city-by-city details.

by 卡塔尔世界杯常规比赛时间

tax professionals know just about every detail of their clients’ lives, but how much do tax professionals earn?

korn ferry, the executive recruiters, think they know. and they’re spilling the beans.

using what they call the world’s largest such database, korn ferry pegs the u.s. national average of tax professional annual salaries at: read more →

fixing the tax system: accountants sound off

survey: overhauling taxes was suggested.

join the survey. get the results.

you can do something. join thousands of other cpas, enrolled agents, financial planners and other tax practitioners in contributing opinions and ideas to the busy season barometer. let your voice be heard. join the survey; get the results

by 卡塔尔世界杯常规比赛时间 research

respondents to the 卡塔尔世界杯常规比赛时间 busy season barometer seemed a little optimistic earlier this year, but as the season staggers into april, tax practitioners are having second thoughts. suddenly, increasingly, the season looks bleak. now more and more respondents foresee a downturn in revenue and profit. fewer foresee a better year.

cooper

more busy season: who’d like a friend in the irs? | hello, irs? anybody home? | is the irs about to get beefed up?   |  tax season funnies: april fool is when?  |  wanna change the tax world?   |  how the irs hides its legal decisions  |  tax season 2019 serves up a taste of the future  |  the biggest reason fraudsters run rings around the irs  |  the irs free-file flop  |  the demise of schedule a?  |   tammy’s tale of tax season tardiness  |  how effective project management makes your life easier  |  survey: busy season goes sour  | the irs mess: taxpayer’s roadmap is a plumber’s nightmare

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

many blame the tax system in general and the irs in particular. it all boils down to politics. chris cooper, a certified financial planner in san diego, says.“enact a flat tax or a vat, and eliminate taxing income and investments. then do away with the irs.” read more →