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Salary for day traders
I had conversations with two day traders today who were relying on articles stating that some traders take a salary from their corporate trading entities. There was no tax problem here but I just felt that it was important to distinguish between tax fact and opinion before delving into tax planning. I pointed out that…
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Caution about selling “tax planning”
Decades ago in law school, my tax professors said you just couldn’t sell tax planning to middle‑market clients. In my experience, that’s mostly true. The focus of my professional study and expertise was compensation and benefits planning. As a non-attorney, I felt forced to find a different way to bring these services to the market…
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The Role of the CPA Tax Fixer
A new federal report released yesterday about errors by paid tax preparers repeats what past studies have shown: tax return mistakes are extensive and serious, and they put both taxpayers and preparers at risk. A significant portion of my work stems from errors in self‑prepared returns and in returns prepared by unregulated tax preparers. In…