Is bookkeeping important for the IRS? Ask the auditor when he or she knocks on your door. Yes. 

Why should I keep records? Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare your tax returns, and support items reported on your tax returns. What kinds of records should I keep?...

AI for Tax Planning will Die Soon; Enter Quantum Computing— Exploring the Hype and Reality

The realm of tax planning has long been ruled by complex regulations, intricate calculations, and an ever-evolving landscape. Traditionally, human experts navigated this labyrinth, but the winds of technological change are blowing in a new direction. Artificial intelligence (AI) promised a revolution, its algorithms seemingly poised to unlock efficiencies and optimize strategies. However, whispers have...

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