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Kindle Fire Experiment

As the first weekend comes to a close I am finding the good and bad with my new Kindle Fire. First the good.  It is definitely working for the main purpose I purchased it for, Social Media.  Since I joined Socially Promoted I have been working towards meeting the...

Minimum Standards Exam

The IRS has announced that it is finally moving into the next phase of its effort to improve the tax preparation industry by launching the new Registered Tax Return Preparer competency test (minimum competency exam). The new competency test is part of a larger...

Illinois and Pass Through Entities

Illinois finally gets into the 21st Century!  Effective for tax years ending on or after December 31, 2011, corporations, including S corporations, that are required to file their federal Forms U.S. 1120 and U.S. 1120S income tax returns by electronic means, are now...

The Tablet of Choice

Well after months and months of debating and hemming and hawing, I have finally taken the plunge.  I have ordered a tablet. I was planning to wait for the iPad 3, in spite of the extended delays from Apple, but a client who is an early adapter of the iPad suggested...

iPads

The IRS has classified iPads and tables that are employer issued to be a tax free benefit for the personal use.  These now fall into the same arena as cell phones and those antiques, that some still use called laptops.  So Uncle will not be looking for some cash for...

Year End Tax Planning for Professionals

Where do you want the income, 2011 or 2012?  You have the capability to delay year end billings or speed them up to assist in moving receivables to your year of choice.  Cash basis accounting assists with allowing this flexibility in determining your income as well as...

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