Everyday Tax Rules: Tax Tips from 38 Years in the Trenches

Author: Greg White

We’ll cover important concepts you can use in your daily practice. You’ll leave the course more comfortable with important principles that underlie tax practice. Purchases of a business and sales of a business.

Publication Date: June 2025

Designed For
This course is recommended for tax professionals who want to gain a deeper understanding of practical tax rules that will make you more comfortable and effective in the tax business.

Topics Covered

• Broad practice principles
• IRS controversy
• Research
• Tax planning
• Phantom income
• Choice of entity
• Tax doctrines
• Using artificial intelligence (AI)
• Practice tips
• Angry clients
• Accepting mistakes
• Managing your life in a demanding profession

Learning Objectives

• Identify the availability of the "Cohan rule" to make reasonable estimates of expenses when no reliable evidence of the exact amounts
• Recognize how to use reasonable allocations to quickly complete tax returns
• Describe how to maximize losses on the administration of an estate
• Identify practice management tools to make your firm more profitable
• Identify how many tests an employee must pass for an S corporation to be recognized regarding controlled entities
• Identify the portion of competent petitions that typically reach a settlement

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None