Intuit ProConnect Team

Can Your Clients Claim a Natural Disaster Tax Deduction?

October 18, 2018October 18, 2018 / Intuit ProConnect Team

With wildfire season just behind us and hurricane season upon us, many taxpayers may be wondering if their taxes will be affected by natural disasters. As your clients’ trusted advisor, you can help them understand how they may be impacted,...

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Tax Law and News

IRS Issues Guidance on Tax Cuts and Jobs Act Changes to Business Expense Deductions for Meals and Entertainment

October 4, 2018October 4, 2018 / Intuit ProConnect Team

On Oct. 3, 2018, the Internal Revenue Service issued guidance related to business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for any expenses related...

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Intuit® ProConnect™ News

Join Intuit’s New Virtual Tax Expert Network: We’re Hiring!

October 4, 2018October 4, 2018 / Intuit ProConnect Team

Intuit® is offering a new way for tax professionals to earn more money with a leading-edge tax platform on Intuit TurboTax® that offers the flexibility for pros to work on their own schedule and assist customers right from their own...

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Tax Law and News

Last Crack at Lower Medical Expense Deduction Floor

October 3, 2018October 10, 2018 / Intuit ProConnect Team

Medical expense deductions have been an up and down proposition in recent years. Under longstanding tax law rules, out-of-pocket medical expenses were deductible to the extent that they exceeded 7.5 percent of a taxpayer’s adjusted gross income (AGI). Starting in 2012, a tax law...

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Tax Law and News

IRS Announces New Employer Tax Credit for Paid Family and Medical Leave

October 2, 2018September 26, 2018 / Intuit ProConnect Team

The IRS announced that eligible employers who provide paid family and medical leave to their employees may qualify for a new business credit for tax years 2018 and 2019. In addition, eligible employers who set up qualifying paid family leave...

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Tax Law and News

October 2018 Tax and Compliance Deadlines

September 28, 2018August 13, 2018 / Intuit ProConnect Team

Welcome to October — a month of football, pumpkin spice lattes, Halloween, and yes, some important tax and compliance deadlines. Here’s a list for your review. In October, it’s recommended that you: Conduct year-end tax planning sessions with individual clients. Remind...

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Tax Law and News

Tax Deductions for Football Season

September 18, 2018September 18, 2018 / Intuit ProConnect Team

Last year, if your clients made a donation to a university that gave them the right to buy tickets to a sporting event, sometimes known as personal seat licenses (PSL), they could deduct 80 percent of that donation from their...

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Tax Law and News

September 2018 Tax and Compliance Deadlines

August 31, 2018August 31, 2018 / Intuit ProConnect Team

Happy September. This is your monthly summary of important tax and compliance deadlines for your review. In September, it’s recommended that you: Schedule appointments with individual clients for year-end tax planning sessions. Remind individual clients of automatic six-month extensions of Oct. 15...

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Tax Law and News

Treasury, IRS Issue Proposed Regulations on Charitable Contributions and State and Local Tax Credits

August 29, 2018August 29, 2018 / Intuit ProConnect Team

The U.S. Department of the Treasury and the IRS issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit. The proposed regulations issued...

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Practice Management

IRS Reminds Professional Tax Preparers of Data Security Plan Requirements

August 28, 2018August 28, 2018 / Intuit ProConnect Team

The IRS and its Security Summit partners reminded tax professionals that protecting taxpayer information isn’t just good for the clients and good for business – it’s also the law. The Summit partners urged tax professionals to be aware of their...

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