Have You Considered a .CPA Domain

.CPA is a new, secure domain exclusively available to licensed CPAs starting January 15, 2021.  Having a .CPA domain will help you secure your data, enhance client trust, and strengthen your brand. To apply or learn more, visit https://register.domains.cpa/ today. Brought to you by the AICPA and CPA.com The AICPA is the world's largest member organization representing the accounting profession.  CPA.com is the business and technology arm of the AICPA.  Together, AICPA and CPA.com have worked extensively with ICANN (the internet's governing body) to bring .cpa domains to the profession.
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Pay Later, Get Your Software Now

ERO Select Program If you’re not ready to pay out of pocket for your tax software, good news: you don’t have to. We’re teaming up with Republic Bank for our ERO Select program. With ERO Select you’ll receive TaxAct Professional software now and then just pay $15 per e-filed TIN. There’s a minimum requirement of 50 returns, but that’s it — no hidden technology, transmitter, or filing fees. To join, fill out the prequalification form or call (319) 536-3630.  
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Renew Your PTIN Now

It’s that time of year again! The New Year’s ball is about to drop and that means it’s time to renew your PTIN. All PTIN’s will expire December 31, 2020. Who needs a PTIN? According to the IRS, anyone who “prepares or assists in preparing federal tax returns for compensation” needs to have a valid 2021 PTIN. Log into your account to renew your information and get your PTIN for 2021. Or create a new account to register for your first PTIN. The PTIN fee for 2021 is $35.95.
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Essential Virtual Tools for Your Practice

If there’s anything this year has taught us it’s that being able to work from anywhere at a moment’s notice is vital. But many tax professionals were caught off guard by the different demands of a remote environment. It’s not enough to just set up your laptop in a home office and expect that your business will run the same. Luckily, there are tools that are easy to use and set up that have made running a virtual business possible. Here are some of the tools that are vital when running your practice virtually.  Additionally, be on the lookout for more details on our partnership with TaxDo...
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TaxAct Professional and TaxDome Partnership

After much research and vetting, TaxAct Professional has entered into a partnership with TaxDome for your benefit. Soon, as a TaxAct Professional Customer, you will be able to take advantage of all TaxDome has to offer at an unbelievable rate.  TaxDome is a complete software solution to help you manage your practice.  From E-signature, to secure storage, a CRM, workflow tools, bills & payment options, and much more, you will be set for anything 2021 throws your way. Be on the lookout in the coming weeks for an email on how you can take advantage of this amazing partnership. Disclosu...
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How to Improve the Value of Your Tax Practice

You’re building a successful practice. And while you may love what you do, at some point, you might consider selling your practice. Maybe you plan to sell it when you approach retirement. Or maybe you want to sell it to pursue a new endeavor. Whatever the reason, we can all agree that getting top dollar for what you’ve created is ideal. How do you position your practice to get the highest value offer you can? It starts with understanding how a prospective buyer will value a tax practice for sale. How is a Tax Practice Valued? When deciding on a sales price, the final price is often a multiple ...
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Get your Clients Ready for Tax Season

2020 is coming to an end, and with the extended tax deadline, both you and your clients haven’t had much of a chance to relax. But just because you’ve had a shorter off-season doesn’t mean you and your clients should ignore any preparation that needs to happen before tax season. As we dive into another tax season, here are five things you’ll want to do to get your clients ready. Review your processes Take some time to review your previous tax season. Take stock of what worked and what didn’t and identify any bottlenecks in your process. For example, you may not have an easy and efficient way ...
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Grow Your Practice in 2021

While you may be working in your practice day-to-day, it’s also important to step back and work on your practice. And there’s no better time to do that than the end of the year when things are a little slower with your clients, but the busy tax season is just around the corner. If you want your practice to grow and thrive, taking the time to intentionally build it each year will pay dividends. Not sure where to get started? We have a list of ideas to help you get started. Review pricing Is your pricing model still serving you and your clients? When you started your practice, you may have gone...
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TaxAct 2020 Professional Editions Version .92 Update

Version .92 is now available for all TaxAct 2020 Professional Federal Editions. This update includes: Bookmarks The user interface has been improved and the limitation of 20 bookmarks has been removed (previously released with version .91). Minor fixes and enhancements TaxAct 2020 Professional can automatically check for updates by selecting Tools –> Options, and selecting “If already connected to the internet, automatically check for updates on program startup.” You can also check for software updates at any time by selecting Online –> Check for Updates.
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Welcome to TaxAct 2020 Professional Editions

We know you have options when it comes to selecting professional tax preparation software. Thank you for choosing TaxAct 2020 Professional Editions. We are continually working to improve our software to help Tax Professionals like you to be more efficient and effective, and to provide a product you and your clients can trust. Throughout the tax year we will make information available to you using the Notification Center within TaxAct 2020 Professional. Subjects will include enhancements, updates, and form availability, among other things. The following TaxAct 2020 Professional Editions a...
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Version 1.25 (1040), 1.17 (1065, 1120, 1041), 1.16 (1120-S), and 1.14 (990) Update

Version 1.25 for 1040, 1.17 for 1065, 1120, & 1041, 1.16 for 1120-S, and 1.14 for 990 are now available for TaxAct 2019 Professional Federal Editions. These updates include: Data Management Tool This tool can be used to permanently delete Clients, Logs, and Online Backup data stored online. Open the tool by navigating to Tools > Data Management Tool… By default, only practice owners have the permission enabled to use the Data Management Tool. Practice owners can assign the “User can access Data Management Tool” in the Preparer’s Permissions page to allow other users to use thi...
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How Will the Outcome of the Election Effect the New Tax Year?

Like in most elections, taxes play a major role in the campaign policies set forth by the presidential candidates. This year, tax policy may play a more pivotal part of any economic recovery. While it’s impossible to know exactly what future tax policy will look like, the plans set forth by President Trump and former Vice President Joe Biden give us insight as to how they expect to shape tax policy if they win the election. Here’s what we know so far. Trump’s Tax Plan In 2016, Trump’s campaign plan included significant tax cuts. Those tax cuts came to fruition with the Tax Cuts and Jobs A...
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Highlighting The Importance of Cyber Security (Sponsored Content)

October is Cyber Security Awareness Month Throughout this entire year most major headlines have revolved around COVID-19, but have you thought about how COVID-19 is impacting cyber security? With many companies going remote, as well as consumers spending significant time online, cyber criminals are taking advantage. Cyber Security on the Rise According to Fintech News, in 2020 cloud-based attacks rose 630% between January and April and phishing attempts rose 600% since the end of February. With the tax industry being such a targeted industry by cyber criminals, it is imperative to think about ...
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