Free Tools, Tables, and Worksheets for Your Practice

Posted on by Megan Monaghan
Downloadable Tools, Tables, and Worksheets Compliments of TheTaxBook and TaxAct Professional TaxAct Professional will be working with TheTaxBook again this tax season! Because of this… Any TaxAct Professional customers, who purchase TheTaxBook’s WebLibrary Plus1 for TY23, will receive their award-winning tax research solution at a discounted rate of $249 (regular price -$319). Last year TaxAct Professional and TheTaxBook provided pros with a glimpse into TheTaxBook’s resources, for free. Because this was so well received, we have decided to do this again for 2023, so that you can see for yo...
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How to Perfectly Price Your Services

Posted on by Megan Monaghan
Perfectly Price Your Services Helpful tools for tax professionals to get paid what they’re worth.  We understand that so many tax preparers have a difficult time properly pricing their tax preparation service fees. So much so that we held a pricing workshop  last summer, as the first step towards educating our tax professionals on their true value. But as we move into TY23, it’s important that we continue to educate on this topic, so that our pros can go into this next tax season feeling confident and financially successful. That’s where SmartPath.co comes in… SmartPath.co understands that...
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TY23 Season Readiness Guide – Available Now!

Posted on by Megan Monaghan
Tax Season Readiness Guide - TY23 Preparing for each tax season can be daunting. Not to mention a lot of work. But it’s okay, *deep breath*, TaxAct Professional has your back. To help alleviate some of the stress that comes with prepping for the upcoming tax season, we’ve created a new & improved version of our Season Readiness Guide for TY23*. This content is crucial for your tax firm to use in preparation for the upcoming tax season. Plus, it’s a great resource for you to utilize in the depths of tax season. What’s Inside: Key Changes for TY23 TY23 Checklists Important ...
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The Importance of Creating a WISP for Your Tax Practice

Posted on by Megan Monaghan
The Importance of Creating a WISP for Your Tax Practice And free tools you can use to get started today! What is a WISP? A WISP also known as a Written Information Security Plan, is something that the IRS requires tax professionals to have in place, to protect themselves, their firm, and their clients. As a tax preparer, creating a WISP is essential for your business. Plus, the law requires all tax preparers to have one in place, that is kept up-to-date/updated on an annual basis. Unfortunately, most professionals don’t even know where to begin when it comes to creating a WISP for thei...
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Free, Downloadable Client Facing Tax Documents – English & Spanish

Posted on by Megan Monaghan
Free, Downloadable Client Facing Documents Available in English and Spanish TaxAct Professional understands that time is limited and precious for tax preparers. To help save you time and energy as you get ready for the upcoming tax season, we’ve created a few client-facing documents for you to download for free. Available Documents Engagement letter (English and Spanish versions) New customer tax questionnaire (English and Spanish versions) Returning customer tax questionnaire (English and Spanish versions) Non-resident tax questionnaire (English and Spanish versions) To ...
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CPE Webinars in TY23 – Information to Consider

Posted on by Megan Monaghan
Information to Consider Before Taking CPE Webinars for TY23 As tax pros head into TY22 extension season and begin to prepare for TY23, TaxAct Professional thought it was important to take a moment to focus on continuing education. So naturally, we connected with CPAacademy.org, to learn from their firsthand experience on the topic. After all, they pride themselves on providing the highest quality, forward-thinking educational content to accounting and business professionals. After speaking with their team, here are the resources we gathered to assist you: Tax Webinars Offered in 2022 ...
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What Does the Future Hold for the CPA Profession?

Posted on by Megan Monaghan
The Future is Ever-Changing for the CPA Profession This past year has been filled with a lot of financial stress and legislative updates for you and your clients. You’ve been forced to learn and adapt quickly, to ensure that your business evolved alongside the tax industry. As you begin to prepare for TY23, we wanted to connect with a true industry expert to hear and learn from his insight. Joining us on the blog today is Sidney Kess, CPA, J.D., LL.M., nationally renowned tax lawyer and accountant. In this article, Sidney shares his thoughts on the current state of the accounting professio...
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FREE Downloadable Tax Calendar

Posted on by Megan Monaghan
FREE Downloadable Tax Calendar May 2023 - April 2024 We know that being a tax preparer is incredibly stressful and busy, to say the least. To help you save time and energy when it comes to remembering dates and deadlines, TaxAct Professional has put together a calendar for you to download (for free) and immediately begin implementing at your tax practice. After all… As you work on wrapping up TY22 and begin preparing for TY23, the last thing you want to do is make sure your calendar is updated. Let us do the heavy lifting – you deserve to sit back, relax, and enjoy a few moments of peace ne...
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Stay Compliant with eSignature – On-Demand Webinar

Posted on by Megan Monaghan
Stay Compliant with eSignature An On-Demand Webinar, Hosted By: TaxAct Professional and DocuSign Our new integrated eSignature offering, backed by DocuSign, makes it easier for you and your clients to get the signature you need to e-file. And it also helps you stay compliant! On Thursday, January 12th, 2023, TaxAct Professional and DocuSign hosted a brief 1-hour webinar, where we provided an in-product eSignature demo, an overview of eSignature compliance, and a customer experience demo from DocuSign. Then, our team wrapped this webinar by providing attendees with information on purchasing ...
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Basics and Beyond of Crypto Taxation: What Preparers Need to Know

Posted on by Megan Monaghan
Crypto Taxation Basics and Beyond: What Preparers Need to Know Crucial Knowledge for Tax Preparers Going Into TY22 Cryptocurrency, or virtual currency, is a digital representation of value currently used both as a medium of exchange and as an investment. The IRS considers virtual currency to be property; in many cases, basic property tax law works well for virtual currency. Unfortunately, there are also many crypto activities for which property tax law just doesn’t apply and there is no IRS guidance to support a tax position. Understanding the concepts underlying cryptocurrency helps the t...
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The 4 Things Your Tax Firm’s Pricing Should Include

Posted on by Megan Monaghan
The 4 Things Your Tax Firm's Pricing Should Include It’s time to stop giving away your time for free! Recently, we discovered that many of the customers we work with do not understand their worth as a tax professional. Because of this, so many are undercharging for their tax preparation services! According to the 2021 NATP Fee Study, 74% of tax professionals reported that the increased complexity of their work has directly impacted their profitability. What does this mean? It means you are not alone! Data also shows that “Per-Form,” and “Per-Hour” are no longer the best approach c...
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What’s New TY22 – Check out the Highlights

Posted on by Megan Monaghan
Now that TY21 is in the books, it’s not too soon to start thinking about TY22. We’ve been planning ahead and working to make our tax software even better. Now is your chance to lock in the savings* and check out the Highlights for TY22: E-signature Integration –Use electronic tax signing software to get everything signed and tracked from anywhere. No significant price increase — Same list price and discount as Q2 last year.* Bank products & Incentives – Claim $5 per Refund Transfer and offer clients CashAdvance for TY221 Expanded forms and e-file coverage – We...
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Exclusive Tools From TheTaxBook, For Tax Pros!

Posted on by Megan Monaghan
Exclusive Tools From TheTaxBook, For Tax Pros! We are excited to announce that we have partnered with TheTaxBook for extension season, TY22, and beyond! Now, TaxAct Professional is able to provide our pros with an award-winning tax research solution, at a discounted rate that is the lowest in the marketplace - $229. To give you a glimpse into just how beneficial this resource can be for your business, we’ve provided you with a free sample of their offerings. To download this content, simply complete the form below to access, compliments of TaxAct Professional and TheTaxBook. Interested in s...
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