Having worked in the tax and accounting field, I have had the pleasure of working with many tax professionals. One topic that often arises, in particular at trade shows, is tax software. You have your loyal Drake followers, your Lacerte advocates and everything in-between. Value is one term you hear a lot when you are in the Drake circle. For Lacerte, it’s a workhorse that is complete and very efficient in regards to entry style. The fact is that renewal rates in the industry are very strong and usually run in the 95% range across the board. On occasion, you will have a tax software company make a mistake or two that cost them a few points off their renewal rate but in general the rates stay very stable. The point I want to discuss today is for new preparers or preparers that have finally realized that consumer DIY software is not the right fit to run a growing business.
The most successful professionals are those who keep up with the changing trends of their industry. For tax professionals, however, this can be a difficult feat to manage. In the ever-changing environment of tax work, here are a few tips to keep you informed of any tax updates.
Our latest episode keeps it short and sweet. We urge tax professionals to make sure all their information is updated.
Check out our latest post to find out some very important updates for tax professionals using Refundo!
Six years ago, the day before Christmas, I remember receiving an email announcement from Santa Barbara Bank & Trust telling us they would not have RALs. This jump started a series of events that led me to founding Refundo. I felt led on, betrayed, and even foolish for feeling like I had no option but to be at the mercy of someone else to help my clients, my people.
Whether this is your first tax season, or your 21st, I’m sure you’ve encountered attempts at fraud in one form or another.
It’s hard to maintain your competitive edge in this industry, and sometimes it may seem like cutting a few corners can help you get a leg up; it’s a victimless crime anyway, right?
So here’s the latest we’ve gathered about the progress of this Annual Filing Season program started by IRS in a renewed effort to regulate tax preparers, or to allow tax preparers to “voluntarily” regulate themselves by participating.
As we mentioned on our last webinar, IRS has been careful to call the AFS program “temporary” and “voluntary” but they hope to be able to institute a more formal program soon enough.
In response to the September 2013 IRS appeal, the U.S. Court of Appeals ruled today that the agency has no authority to require tax return preparers to pass competency exams, pay annual fees and complete at least 15 hours of continuing education courses each year.
Ready for tax season? If you haven’t heard about tax identity theft, you may not be.
Tax identity theft happens when someone files a phony tax return using your personal information – like your Social Security Number- to get a tax refund from the IRS. It also can happen when someone uses your SSN to get a job or claims your child as a dependent on a tax return.