Simplify Payment Processing with Integrated Payments Powered by Drake Pay

Posted on by Julie Brown
Simplify Payment Processing with Integrated Payments Powered by Drake Pay Discover how integrated payments can transform your payment workflows in TaxAct Professional. From manual card entry to invoicing, this modern payment solution streamlines the process, improves accuracy, and enhances efficiency. Powered by Drake Pay, the service allows you to accept credit, debit, and contactless payments seamlessly, giving your business the freedom to focus on what matters most—your clients. What’s Included: Video recording from January webinar PowerPoint used by presenter. Additional Too...
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We’re Here for You with Extended Support Hours!

Posted on by Swathi Gunnala
To better serve you during tax season, we’ve updated our support hours for TaxAct Professional users: Extended Support Hours (Central Time): January 18, 2025 – April 6, 2025 Monday – Friday: 8:00 AM – 9:00 PM Saturday & Sunday: 9:00 AM – 6:00 PM We’re here to help you succeed! Contact us at the updated times for assistance with your TaxAct Professional product. Thank you for choosing TaxAct Professional! You can also find the information on our website by clicking here: https://www.taxact.com/professional/support    
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2025 Preview: Confidently Navigating IRS Notices to Protect Your Clients

Posted on by Julie Brown
2025 Preview: Confidently Navigating IRS Notices to Protect Your Clients Community Tax celebrates its 15th anniversary of operations in 2025 – and we know that our clients’ overwhelming response to a notice of outstanding tax debt is to do absolutely nothing. It’s only once the notices threaten seizure and levy that taxpayers start to react. And when they do – timing is of the essence. With the IRS stepping up enforcement in the coming year, many of you will be asked between now and April 15 to take quick action to: Prevent wage garnishment; Prevent liens on the family home; Kee...
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A Simple Approach & Overview to Virtual Currency

Posted on by Julie Brown
A Simple Approach & Overview to Virtual Currency Recording and presentation materials from Education Forum hosted in December of 2024. On December 16th, we hosted a 2-hour virtual event, where A.J. Reynolds  presented A Simple Approach & Overview to Virtual Currency. A special thanks to everyone that joined us live! Cryptocurrency is a decentralized digital currency otherwise known as Virtual Currency. The term “Cryptocurrency” generates countless amounts of uncertainty and anxiety among tax professionals. The language single-handedly strikes apprehension among us. This webinar ...
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Tax Season Readiness Guide – TY24

Posted on by Julie Brown
Tax Season Readiness Guide - TY24 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 TY24*. 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 TY24 TY23 Checklists Important C...
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1099K Explosion!

Posted on by Julie Brown
1099K Explosion! Recording and presentation materials from Education Forum hosted in October of 2024. On November 7th, we hosted a 2-hour virtual event, where Amy Wall presented 1099K Explosion! A special thanks to everyone that joined us live! With the reduced filing requirement for the filing of Form 1099-K effective for Tax Year 2024, you should expect to see many more Forms 1099-K than ever before. Taxpayers may receive 1099-Ks not just for their trade or business, but also for hobby income, one-off activities such as the sale of personal items online, and possibly for purely person...
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2024 Individual & Business Tax Update!

Posted on by Julie Brown
2024 Individual & Business Tax Update! Recording and presentation materials from Education Forum hosted in October of 2024. On October 28th, we hosted a 2-hour virtual event, where A.J. Reynolds presented 2024 Individual & Business Tax Update. A special thanks to everyone that joined us live! Tax changes never rest, nor should tax professionals. In this two-hour webinar you will receive the latest information and guidance that has transpired for Tax Year 2024, all while you were conquering tax season, recovering, and trying to find free time for yourselves. During this free we...
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Schedule E for Residential Real Estate Activities

Posted on by Julie Brown
Schedule E for Residential Real Estate Activities Recording and presentation materials from Education Forum hosted in August of 2024. On September 5th, we hosted a 2-hour virtual event, where Amy Walls presented Schedule E for Residential Real Estate Activities including vacation rentals. A special thanks to everyone that joined us live! Because Residential Real Estate Activities are such an important topic in the tax industry right now we knew it was important to record this content and make it readily available to all, in preparation for the upcoming tax season. If you are intereste...
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An Essential Overview on S-Corp & Partnership Basis

Posted on by Julie Brown
An Essential Overview on S-Corp & Partnership Basis Recording and presentation materials from Education Forum hosted in August of 2024. On August 8th, we hosted a 2-hour virtual event, where A.J. Reynolds presented on basis rules and calculations for clients who are shareholders or partners in pass-through entities and how this basis affects their individual Form 1040 tax return. A special thanks to everyone that joined us live! Because A-Corp & Partnerships are such an important topic in the tax industry right now we knew it was important to record this content and make it read...
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Big news from TaxAct Professional!

Posted on by Swathi Gunnala
TaxAct Professional has partnered with Drake Pay to enable our customers to accept payments securely and conveniently in the TaxAct Professional software. Visit our website to enroll in Drake Pay today! https://www.taxact.com/professional/integrated-payments Once enrolled and approved, you will be able to accept payments quickly. Invoicing, client payments, and reporting are all available now. Please contact our support team if you have any questions.
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The Importance of Cybersecurity & Security Plans for Tax Preparers

Posted on by Megan Monaghan
The Importance of Cybersecurity & Security Plans for Tax Preparers Recording and presentation materials from Education Forum hosted in July of 2024. On July 18th, we hosted a 2-hour virtual event, where A.J. Reynolds presented on the importance of understanding the ins and outs of cybersecurity and developing an effective, well thought our Data Security Plan (also known as a Written Information Security Plan (WISP)). A special thanks to everyone that joined us live! Because WISPs are such an important topic in the tax industry right now and because they are complex to develop, we kn...
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Exciting Announcement – New Partnership with Drake Accounting!

Posted on by Megan Monaghan
You Don't Have to Choose Between Functionality and Affordability. TaxAct Professional is excited to announce that we have partnered with Drake Accounting to bring our customers an affordable, fully featured accounting and payroll product, at the discounted annual rate of $295 $795. This tool lets you manage basic client financial records with double-entry accounting. Plus, a number of reports are provided, including multi-column profit and loss reports, pre-posted reports, comparative or single column balance sheets, and payroll reports. To take a look at all of the Drake Accounting features,...
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How to Setup a Referral Marketing System for Your Practice

Posted on by Megan Monaghan
How to Setup a Referral Marketing System for Your Practice Recording and presentation materials from webinar hosted in June of 2024. On June 5th, we hosted a 1-hour webinar, where Will Hamilton of SmartPath.co, presented on how to develop a referral marketing system, unique to your tax practice. A special thanks to everyone that joined us live! Because referrals are the number 1 way tax preparers grow their practice, we knew it was important to record this content and make it readily available to all, in preparation for the upcoming tax season. If you are interested in accessing this co...
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