Average Tax Return Preparation Fees

The National Society of Accountants released survey data regarding the average fees charged by tax professionals for tax return preparation services in 2013.  The fees vary by geographic region, the type of tax return prepared, and the condition of the supporting documents.  The survey was focused on owners and partners of local tax preparation companies Read more about Average Tax Return Preparation Fees[…]

Peer Review for CPAs

I recently went through my first peer review for my CPA practice.  I must confess, the preparation was a lot more stressful than I had anticipated.  Not as difficult as preparing for an IRS audit, but nonetheless, I wanted to make sure my information was in perfect condition for the peer reviewer.  I even asked Read more about Peer Review for CPAs[…]

What Meal Expenses May I Deduct?

Business meal expenses are deductible only if they are: Directly related to or associated with the active conduct of the taxpayer’s trade or business, Not lavish or extravagant, and Incurred while the taxpayer or taxpayer’s employee is present at the meal. Once the meal expense passes the above requirements, the expense falls into two categories:  Read more about What Meal Expenses May I Deduct?[…]