Form 4797, Tax Planning, Sales Allocation, and More

Posted on by Julie Brown
Form 4797, Tax Planning, Sales Allocation, and More Simply put, IRS Form 4797 is the form used specifically for reporting the gains or losses resulting from the sale or exchange of business and income producing property used in a trade or business. However, this Form 4797 often generates a countless amount of uncertainty and anxiety. This course will assist tax pros in determining whether a transaction is a capital gain or ordinary income and what tax consequences are associated with each. Furthermore, it will clarify what parts of Form 4797 need to be completed and their holding periods. All...
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Rental Real Estate: Gig Economy & Advanced Tax Issues

Posted on by Julie Brown
Rental Real Estate: Gig Economy & Advanced Tax Issues Reporting rental real estate for tax; short- term rentals, allocating expenses among co-owners, applying active participation rules, mixed- use properties, vacation rentals, commercial rentals, interest deduction criteria including interest tracing rules, real estate professional qualifications, home office, travel expenses and more. Review rental loss limitations; Basis, At Risk, Passive Activity, and the Business Interest Limitation. We'll also discuss material participation, grouping elections, depreciation and repair regs, QBI 162(...
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Divorce and the Various Tax Implications

Posted on by Julie Brown
Divorce and the Various Tax Implications What happens when your clients divorce? Divorce is an emotional occurrence for all involved. What is the significance of the tax professional assisting clients through this difficult time? This course will explain the importance of working with and advising our clients on tax related divorce issues. We will discuss filing status, name change, joint & separate responsibility & liability. We will explore dependents and associated tax credits. Analyze retirement plans, alimony, child support, property settlements, allocating estimated payments, NO...
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Working Families Tax Cut Act: Insights and Support for Tax Pros

Posted on by Julie Brown
Working Families Tax Cut Act: Insights and Support for Tax Pros This session breaks down the Working Families Tax Cut Act and its impact on today’s tax professionals and their clients. With guidance and regulations constantly evolving, staying up to date is essential. We’ll highlight key provisions, how they may affect your workflow, and the tools available to help you stay compliant. Get practical tips to navigate changes and better support your clients. Click  here to access the webinar replay and presentation. Disclaimers: By clicking ‘submit’ you agree to TaxAct’s Privacy Policy ...
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Disaster Relief and Casualty Losses: What Tax Professionals Need to Know

Posted on by Julie Brown
Disaster Relief and Casualty Losses: What Tax Professionals Need to Know Disasters can leave taxpayers financially and emotionally devastated—but they also trigger important tax relief options. Join us for a comprehensive webinar exploring how to guide clients through disaster-related tax issues, including casualty loss deductions, administrative relief, and safe harbor methods. We’ll cover how to use Form 4684, review recent changes under the OBBBA, and demonstrate relevant TaxAct tools. Real-world examples and IRS/FEMA guidance will help you confidently support clients affected by federally...
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Maximize Refund Efficiency with Bank Products

Posted on by Arlette Hanania
Tax season is more than just forms and filings — it's also an opportunity to enhance the client experience and increase your practice’s profitability. For tax professionals using TaxAct Professional, bank products offer a compelling solution to do both. Whether you're a solo preparer or part of a larger firm, offering bank products can streamline operations and offer clients flexible refund options, all while potentially creating a new revenue stream for your business.   What Are Bank Products? Bank products in the tax preparation world are financial services that allow taxpayers ...
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Prep Like a Pro

Posted on by Julie Brown
Prep Like a Pro: Boost Productivity in TaxAct Professional Learn time-saving tips, shortcuts, and hidden features to help you work faster and deliver more accurate returns. Perfect for newer TaxAct Pro users who want to maximize efficiency this tax season. Click  here to access the webinar replay and presentation. Disclaimers: By clicking ‘submit’ you agree to TaxAct’s Privacy Policy and Terms of Service. Contact information may be used for marketing communications by TaxAct Professional. Opinions expressed by Jane Ryder are solely her own and do not necessarily express the views ...
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TaxAct Professional Ranked #1 in Overall Satisfaction in 2025 NATP Software Survey

Posted on by Arlette Hanania
TaxAct Professional Ranked #1 in Overall Satisfaction in 2025 NATP Software Survey In the latest *National Association of Tax Professionals (NATP) 2025 Software Survey, TaxAct Professional earned the highest overall satisfaction rating of all reviewed tax software — an impressive 93% of respondents reported being satisfied or very satisfied with the product. Highest Rated for Ease of Use and Value TaxAct Professional’s top satisfaction ranking is backed by leading scores in several categories: Category TaxAct Score Highest Rank? Overall Satisfaction 93% Yes Ease of Lear...
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Top Five Cybersecurity Tips for Tax Professionals

Posted on by Arlette Hanania
Handling sensitive financial and personal data makes your practice a prime target for cybercriminals. From phishing scams to ransomware attacks, the threats are real and evolving. Fortunately, proactive security practices can help mitigate risks and keep your firm and clients safe.Here are five essential cybersecurity tips to put in your back pocket:1. Use Multi-Factor Authentication (MFA)Why it matters: Passwords can be cracked or stolen. Multi-Factor Authentication (MFA) adds an extra layer of protection by requiring users to verify their identity through a second method — like a code sent t...
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Five Key Changes for Tax Professionals to Watch for in Tax Year 2025

Posted on by Arlette Hanania
As the 2025 tax season approaches, tax professionals are already beginning to prepare for what’s shaping up to be a year of significant shifts in regulation, compliance, and technology. Whether you're a solo practitioner or part of a larger firm, understanding what’s changing — and how to adapt — will be key to staying compliant and competitive.Here are five recommended changes and challenges tax preparers can track for Tax Year 2025:1. Expanded IRS Digital InitiativesThe IRS’s continued rollout of its Strategic Operating Plan will drive more digital interactions in TY25. The agency is pushing...
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The One Big Beautiful Bill Act: Key Takeaways for Tax Professionals

Posted on by Arlette Hanania
The One Big Beautiful Bill Act (OBBBA) brings forward comprehensive revisions to the federal tax code, going into effect for the 2025 tax season. These updates are critical for tax professionals who must adjust planning strategies, advise clients accordingly, and ensure their tax software is up to date.Key Provisions of the OBBBA:1. Permanent Continuation of 2017 Tax CutsThe OBBBA codifies the individual and corporate tax rate reductions first introduced in the 2017 Tax Cuts and Jobs Act (TCJA), making these lower rates a lasting part of the code.2. Expanded SALT Deduction LimitThe deduction c...
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Get Ahead of Tax Season with Our Free 2025–2026 Tax Calendar

Posted on by Tax Act Professional Blog Team
At TaxAct® Professional, we’re here to lighten your load. That’s why we’ve created a free, downloadable tax calendar designed to help you stay organized, informed, and one step ahead as you prepare for Tax Year 2025.Why Download Our Tax Calendar?Our newly updated May 2025 – April 2026 tax calendar is more than just a list of dates — it’s a practical tool to keep you on track during the busiest months of your year. Whether you’re managing deadlines, planning client meetings, or mapping out continuing education and industry events, this calendar has you covered.You’ll find:Key federal tax deadl...
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Five Proven Strategies to Boost Client Retention and Enhance Service in Your Tax Practice

Posted on by Tax Act Professional Blog Team
Client retention and satisfaction for tax professionals​ Keeping your clients happy and loyal is more than good business—it’s essential for the long-term success of your tax practice. Now is the perfect time to evaluate how well your office is meeting client expectations and plan improvements that will help boost client retention.Why Client Retention Matters in the Tax IndustryClient acquisition can cost more compared to retaining current clients. Recurring clients can often make up most of the annual revenue and satisfied customers not only return—they may refer others.Yet, according to...
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SECURE Act 2.0 vs. 1.0: Five Tips and Takeaways for Tax Professionals

Posted on by Tax Act Professional Blog Team
What you need to know about the retirement enhancement act and how your clients can be impacted. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has reshaped the retirement landscape not once, but twice. First passed in 2019 and followed by an extensive update in late 2022, these laws are packed with implications for tax professionals advising retirement-age clients, small business owners, and estate planners [link to real estate blog post].Here’s a breakdown of the most important changes between SECURE Act 1.0 and SECURE Act 2.0 — and what they mean for your clien...
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