Tax Planning Strategies for Moderate-Income Clients
Tax planning isn’t only for high-net-worth clients. Moderate-income taxpayers can also benefit from thoughtful strategies involving retirement, education, charitable giving, Social Security, healthcare costs, and other important financial decisions.
In this on-demand webinar, A.J. Reynolds, EA, explores practical planning opportunities tax professionals can use to better support their clients. Topics include qualified charitable distributions, Form SSA-44, 529 plans and the American Opportunity Tax Credit, retirement and 401(...
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What’s New in TaxAct Professional: Work Smarter With SmartExtract™
Tax professionals are continually looking for ways to work more efficiently without giving up control of the return preparation process. That is why TaxAct Professional is expanding its capabilities with technology designed to reduce repetitive work and support a smoother tax workflow.
One of the latest additions is SmartExtract™ (Beta), Powered by Drake Software. This AI-powered tax document extraction tool helps turn supported client documents into return-ready data, giving tax professionals a faster way to move from document collection to return preparation.
Spend Less Time Entering Tax...
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New Smart Document Extraction for TaxAct Professional
Make tax form entry easier and faster.
Try it in Beta for free* and give us feedback.
See how you can spend less time on manual data entry during the busy season:
Upload W-2s and review extracted wage and withholding information.
Capture data from supported 1099 forms and verify details before use.
Organize information from Form 1098 documents for faster review.
Find out more:
Try it for free. Email feedback to professional@taxactservice.com.
Visit the SmartExtract support page.
*SmartExtract, Powered by Drake Software (beta) is currently in beta testing, meaning tha...
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Digital Assets: Tax Fundamentals, Emerging Issues, and 2026 Legislative Developments
Digital Assets: Tax Fundamentals, Emerging Issues, and 2026 Legislative Developments
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This two-hour webinar provides a practical, tax advisor-focused overview of the taxation of digital assets, progressing from foundational concepts to intermediate-level tax analysis and recent legislative developments.
Participants will gain a working understanding of how cryptocurrencies, stablecoins, and other blockchain-based assets are classified and taxed under current U.S. federal income tax law, including key principles such as property ...
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Put Your Tax Expertise to Work With TaxAct This Tax Season
For tax professionals, filing season is defined by important questions, complex situations, and time-sensitive decisions. The knowledge you have gained from preparing returns can make a meaningful difference for taxpayers who need help navigating the filing process.
At TaxAct, you can use that experience to answer tax-related questions, help customers understand how tax rules apply to their circumstances, and guide them toward successfully completing their returns.
What Does a TaxAct Expert Do?
Provide timely, knowledgeable assistance to customers throughout the tax-filing experience. Dep...
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8 Ways Tax Professionals Can Maximize Year-End Tax Planning
While tax season may seem months away, year-end planning begins long before the calendar turns to January. The final months of the year provide tax professionals with valuable opportunities to help clients reduce tax liability, prepare for upcoming filing requirements, and make informed financial decisions before December 31.
Here are several areas to review with clients before year-end.
1. Review Income and Deductions
Depending on the client's circumstances, consider discussing:
Accelerating or deferring income
Timing deductible business expenses
Charitable contributions
...
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Hobby and House Flipping
Hobby and House Flipping
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Millions of people enjoy hobbies that are also a source of income. From catering to baking cupcakes, crafting homemade jewelry to wind chimes -- no matter what a person’s passion, we as tax professionals must determine if our client has a business or Hobby. The rules for how to report the income and expenses depend on whether the activity is a hobby or business. Sometimes the tax law is so obvious that one need not be an expert to conclude the result of a case. But at times we allow ourselves to be so obscured in details ...
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Small Business Credits & Deductions
Small Business Credits & Deductions
This course will review, explain, and discuss best practices for many valuable business and rental activity credits and deductions. Substantial federal tax savings are available with the Section 199A QBI deduction, pass-through elective tax deduction (PTET), accelerated depreciation deductions, favorable retirement plan funding deductions, shareholder, partner, and owner health insurance deductions, vehicle deductions, and home office deductions. Plus business credits including the R&D credit, employer's tips credit, employer's cre...
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Small Business Tax Best Practices Every Tax Professional Can Share with Clients
As a tax professional, you have the opportunity to provide value far beyond preparing annual tax returns. By helping clients develop sound financial habits and plan throughout the year, you can help improve compliance, identify tax-saving opportunities, and strengthen long-term client relationships.
Here are several best practices you can share with your small business clients to help them stay organized, prepared, and positioned for success.
1. Encourage Consistent Recordkeeping
Good tax planning starts with good records.
When clients maintain organized financial records throughout th...
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Trump Accounts
Trump Accounts
Listen to the recorded webinar.
The One Big Beautiful Bill Act (OBBBA) established Trump Accounts, a new federal, tax-advantaged investment account for children under age 18. The program provides a government seed contribution for certain children born between January 1, 2025, and December 31, 2028, along with the ability for families and employers to make additional contributions, subject to annual limits. The Treasury Department and IRS have issued initial implementation guidance (Notice 2025-68) and announced forthcoming regulations, prompting growing client int...
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Introduction to Client Portals
Introduction to Client Portals
Join us for an introductory training session on Client Portals for TaxAct Professional. This webinar will provide an overview of the portal features and demonstrate how to securely exchange documents, manage client files, and navigate the portal experience. See the system in action from both the preparer and taxpayer view, and learn the basics of setup and everyday use.
Disclaimers:By clicking ‘submit’ you agree to TaxAct’s Privacy Policy and Terms of Service.
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Help Clients Beyond Filing Season with Audit Defense, Powered by Drake Software™
For tax professionals, filing a return isn't always the end of the client relationship. Months after tax season, clients may receive IRS or state notices, face audit inquiries, or need assistance with certain qualifying tax-related identity theft matters. When those situations arise, they often turn to the tax professional they trust most.
Responding to post-filing issues can require significant time and attention, pulling firms away from serving other clients and growing their practice. That's why TaxAct Professional has introduced Audit Defense, Powered by Drake Software™; an audit defens...
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Estate Planning After OBBBA …Turning Theory into Practice
Estate Planning After OBBBA … Turning Theory into Practice
Join Michael Miranda for an exciting discussion on what can be done in 2026 and beyond to assist clients in developing an appropriate estate action plan. The “permanent” increase to 15M in basic exclusion amount provides estate tax planning opportunities for middle (less than $15M estates) and high-net-worth client. Many wealthy and not-so wealthy taxpayers need to consider what actions they should take with respect to large gifts and other lifetime planning strategies. Clients will be best served by consideration of planning tech...
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Answering Client Questions About Trump Accounts
Beginning July 4, 2026, eligible children can receive a new tax-advantaged investment account known as a Trump Account. These accounts were created under Internal Revenue Code section 530A and are designed to encourage long-term savings and investment for children under age 18. (irs.gov)
For tax professionals, the immediate challenge is not just understanding the rules. It is helping clients determine:
Whether their child qualifies
How the accounts interact with existing planning strategies
Whether clients should prioritize Trump Accounts over 529 plans or custodial accounts
H...
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5 New Client Portal Features That Help Tax Professionals Work Smarter
Tax professionals are always looking for ways to improve efficiency while creating a smoother experience for clients. Modern client portal technology continues to evolve with tools that simplify document collection, improve communication, and help firms stay organized throughout tax season.
Here are five Portal enhancements (powered by Drake Portals®) that can help streamline your workflow and make collaboration easier for both preparers and taxpayers.
1. A Cleaner, More User-Friendly Portal Experience
The document checklist interface has been redesigned with usability in mind. Tax prepar...
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