My Tax Blog

  • Mileage Log Options

    While some companies, like Uber, who work with contractors, keep track of business mileage for the taxpayer most do not. One of the most financially detrimental things to your taxes is not being able to substantiate business miles that would otherwise be a large deduction.  The IRS does not mandate any method of documentation.  You […]

    Hurricane Harvey Victims get Tax Relief

    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 […]

    How do tax preparers make money?

    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 […]

    Is a Tax Preparation Business right for you?

    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 […]

    Tax Office Training

    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 […]

  • Tax Prep Fees on The Rise

    According to Accounting Today, average fees for tax prep are rising. While it certainly does depend on which forms you need, all tax prep fees are steadily increasing a few percentage points, and will very likely continue to rise as the individual mandate is facilitated through tax filing.

    IRS Commissioner Nominee Vows to Rehabilitate Tax Agency

    John Koskinen, President Barack Obama’s nominee to run the U.S. Internal Revenue Service, said at a Senate panel’s confirmation hearing that he would work to restore the public’s trust in the tax agency. “With 95,000 employees and the range of challenges the agency faces, mistakes will happen,” Koskinen said today in prepared testimony for the […]

    IRS Launches 2012 EITC Audits for Preparers

    The IRS is starting this year’s Earned Income Tax Credit due diligence compliance audits of return preparers. To select preparers for audits,  the service will “look at returns with a high chance of errors competed by the same preparer,” according to the IRS.gov. The audits review at least 25 EITC returns for the preparer’s due-diligence […]

    Important- New Federal Tax Forms for Tax Year 2013

    This coming tax year will be host to some new tax forms that will probably be around for the long haul. The new forms relate to the impending facilitation of the Patient Protection and Affordable Care Act (Obamacare) and the child tax credit. New forms to the 1040 series package: -Form 8959, Additional Medicare Tax […]

    Say “Goodbye” to These Common Tax Deductions

    Tax planning help may be needed for taxpayers who, through a combination of tax credits, usually receive a tax refund as opposed to owing, which may be just the opposite in the next couple of years as many common and often used tax credits are set to expire. The following common tax deductions and credits […]

  • Mileage Log Options

    While some companies, like Uber, who work with contractors, keep track of business mileage for the taxpayer most do not. One of the most financially detrimental things to your taxes is not being able to substantiate business miles that would otherwise be a large deduction.  The IRS does not mandate any method of documentation.  You […]

    Hurricane Harvey Victims get Tax Relief

    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 […]

    How do tax preparers make money?

    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 […]

    Is a Tax Preparation Business right for you?

    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 […]

    Tax Office Training

    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 […]

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