What’s New for TY23 – TAEF Recording

Posted on by Megan Monaghan
What's New for TY23 and Demo Recording from virtual event hosted in August of 2023. On August 17th, we held a 2-hour virtual event, live from Los Angeles, CA, where industry experts came together to help tax professionals prepare for the upcoming tax season. A special thanks to everyone that joined us live! Because this content is so important for ALL tax preparers, we wanted to make sure its was readily available for everyone to access post-event. So, we've gone ahead and taken the recording from the "What's New for TY23" presentation, and have made it available on-demand. If you are...
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The Importance of Tax Planning – TAEF Recording

Posted on by Megan Monaghan
Grow Your Business with Tax Planning Recording from virtual event hosted in August of 2023. On August 17th, we held a 2-hour virtual event, live from Los Angeles, CA, where industry experts came together to help tax professionals prepare for the upcoming tax season. A special thanks to everyone that joined us live! Because this content is so important for ALL tax preparers, we wanted to make sure its was readily available for everyone to access post-event. So, we've gone ahead and taken the recording from the "Tax Planning" presentation, and have made it available on-demand. If you ar...
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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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Are You Offering Refund Transfers to Your Clients?

Posted on by Matthew Davis
Make sure you’re taking advantage of our great offers! What is a tax-related Bank Product? Bank Products* are services that tax preparers can offer to their clients. A Pay-by-Refund1 allows tax preparation and other authorized fees to be deducted from your client’s tax refund. This product allows taxpayers to use tax-prep services without paying tax preparation-feesAre upfront. Pay-by-Refund1 allows the taxpayer’s refunds to be direct deposited from the IRS or State instead of having to wait for a mailed check from the IRS. Why offer Pay-by-Refund? Benefits to the Taxpayer No ...
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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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New Updates. Great Value.

Posted on by Matthew Davis
We’ve been planning and working to improve TaxAct Pro Software for next tax season. Here are the top new highlights for TY23: eSignature Integration – Use electronic tax signing software to get everything signed and tracked from anywhere. That’s ANY tax document, not just 8879. Expanded forms and e-file coverage – Like every year, we continually add updated forms and expand our e-file coverage. Enhanced data access – Better data visibility means you can make smarter business decisions. Bilingual client-facing templates and documents – You can better serve your Spanish-speaking cust...
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How to Find Success with Bank Products

Posted on by Kyle Beard
Disclaimer: Opinions expressed by Ms. Sarkissian are solely her own and do not necessarily express the views or opinions of TaxAct Professional. Truthfully, when I first heard the term “bank products” I had no clue what it meant. Why would I want to involve a bank in my business of filing tax returns? However, once I learned about what a bank product is and does, and I implemented it into my practice, I found it to be a very valuable add-on service that I can offer my clients. In simple terms, a bank product allows your client to opt out of paying your fee up-front and instead choose to have ...
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The IRS Increased Mileage Rates for Final Few Months of 2022

Posted on by Kyle Beard
Due to the rise in fuel costs, the IRS adjusted standard mileage rates for the second half of 2022 Per the IRS, the optional standard mileage rate increased for the final six months of 2022. The deductible costs of driving a car for work or other purposes can be calculated by taxpayers using the optional standard mileage rates. The standard mileage rate for business travel in the final six months of 2022 is 62.5 cents per mile, an increase of 4 cents over the rate at the beginning of the year. The new rate for relocating or medical expenditure deductions (eligible to active-duty military p...
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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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