Tag Archive for Tax Research Techniques

A Practical Guide To Perfecting Your Tax Research Techniques

PeterJScalise

Tax Research Methodology: A Practical Guide to Perfecting Your Tax Research Techniques and Achieving Sustainable Tax Return Filing Positions for the Upcoming 2020 Tax Season and Beyond!

Introduction

In order to properly optimize your accounting firm’s overall efficiency, effectiveness, and productivity in connection to researching and resolving a tax issue and determining the sustainability of a tax return filing position per Circular 230, the appropriate tax research processes must be meticulously designed, implemented, and executed.

The subsequent five practical steps will guide you in establishing and sharpening your 20/20 vision as it relates to reviewing your tax research methodology through an all-inclusive lens in time for the 2020 tax season while properly ascertaining the likelihood of success should a tax position taken on a tax return be challenged by the Internal Revenue Service (hereinafter the “Service”) upon examination.

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Written by | Posted in Tax Research Guide

Tax Research Methodology

A Practical Guide to Perfecting Your Tax Research Techniques and Achieving Sustainable Tax Return Filing Positions

Introduction

In order to maximize your accounting firm’s overall efficiency, effectiveness, and productivity in connection to researching and resolving a tax issue and determining the sustainability of the tax return filing position, the appropriate tax research processes must be meticulously designed, implemented, and executed. The subsequent five comprehensive steps will guide you in establishing an all-inclusive tax research effort on behalf of your entire client base while properly ascertaining the likelihood of success Read More

Written by | Posted in R&D Credit Services

Research: Building Your Client Base Part 6 of a 6 Part Series

TaxConnections Picture - Computer SoftwareNow that we have all learned how to do great research, I’m going to spend some time today showing you how to put it to use for other things then communicating with the IRS. Let’s see how you can build your reputation, referrals, and client base using good research techniques.

The best way to build your reputation among your fellow professionals and among prospective clients is to network. When you join those professional organizations, I mentioned in Part 1, be an active member. Get to know folks from all over the country and in all levels of the career fields. Be the “go to” person on specific subject matter. I’m the go to person among my network for military and veterans affairs. I get calls, consultations, and referrals from all over the country.

Get online! Sign up for some of the great professional websites for tax information out there. Websites like this one, TaxConnections.com. From this one website you can get recognized worldwide as a knowledgeable tax professional, blog about your passions in the field, market yourself and your material, take CPE, answer questions for clients that have the potential to become your clients, and so much more. I’ve gotten several clients and consults from this board. And this is just one website; there are tons of them out there. I’m a little biased towards this one as you may have noticed. Read More

Written by | Posted in United States

Research Basics – Part 1 of a 6 Part Series On Research

TaxConnections Picture - IRS OnlineIt is important, especially in a profession like ours that involves people’s money, that we have good verified sources of research. Of course there’s the grand daddy of all sources, the IRS itself. How many of you surf the IRS website frequently? Like the new format that came out last summer? Find it easier to use? I don’t know about you, but the search engine was never awesome to begin with and now it’s even worse and harder to use in my opinion.

Many companies have jumped into the breech in translating “IRSese” into plain language. Some of these are free access and some are paid access. I have tried many of them with varying degrees of success or failure. My requirements for a research resource are fairly simple.

1. It must be authenticated.

2. It must be broad scoped.

3. It must be user friendly.

4. It must have a super search engine.

So does that mean I only do research online? Nope, you can ask my co-workers, I’m always coming in with new books, magazines, newsletters, and other things with tax news in them. Read More

Written by | Posted in United States