Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The hurricane tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on […]
Tax preparers make money in a few ways. Namely, they make most of their earnings by preparing tax filings for individuals, businesses, and other entities such as estates and non-profit organizations. The cost of preparation and the filing of the returns will vary greatly. Preparation fees for an Individual tax return for the current year […]
The tax industry is a delicate balance of chaos and repetition. Yearly updates on tax law, form revisions, tax software, and tax professional education requirements keep tax professionals busy during the off season while peak season shows just how truly chaotic tax season can be. Every tax professional will develop their own methods of preparing […]
Training your tax preparers can be a daunting task, but it doesn’t have to be. We’ve compiled a list of important tax preparer training categories. Ranging from software and tax law training to online security, with our list of best practices for tax office training, we hope this will help to ensure that you and […]
If you are considering starting a tax preparation business, there are a few different types of actual costs to consider. Each type of cost will require sacrifice and planning. The three main types of small business start-up costs to consider are: finances, time, and effort (mental and physical costs). To help measure the real financial […]
Below is a list of dates with corresponding late fees. Don’t forget these late fees are IN ADDITION to the regular renewal fee. Also, these fees do NOT include your PTIN fee. October 31st- Deadline to renew with CTEC, Pay California $25 After 10/31- Jan. 1st- Late renewal with CTEC, Pay California $25 to renew […]
The IRS will be sending out approximately 5,000 letters to tax preparers of all designations who filed tax returns with a Schedule C that have a high percentage of traits typically found to have errors. These letters are being sent prior to the tax-filing season. The IRS has acknowledged that they specifically targeted returns that […]
Whether you are searching for yourself or with a fellow tax preparer, regardless of previous experience, you will find that this is the best and last year to open your own tax prep business with the fewest barriers to enter the industry. New federal tax preparer requirements set in place will be enforced strictly next […]
California CTEC Information & Pricing: CTEC Renewal (20 hrs) New CTEC Certification (60 hrs) FD Partners: $69.99 $169.99 Non Partners: $99.99 $249.99 $$$ Important CTEC Deadlines $$$ October 31st- Deadline to renew with CTEC, Pay California $25 After 10/31- Jan. 1st- Late renewal with CTEC, Pay California $25 to renew with $55 late fee After […]
Today is the last day to file your taxes which have previously been given an extension. Last year you were given a little longer, but not this year. E-file them, or get them postmarked today! You may pay additional fines and penalties for not doing so.