TaxAct 2021 Professional Payment Charger Reminder Alert

Posted on by Swathi Gunnala
Second Payment Charge Reminder Alert, If you reserved your software for TaxAct Professional the 2nd payment due will now be charged on 12/28/2021. You can also check for updates at any time by clicking the Online –> Check for Updates menu. Happy New Year! TaxAct Professional Team Thank you for choosing TaxAct Professional. If you need assistance, please don’t hesitate to contact us: Pro Sales: ProSales@TaxAct.com, 319.536.3571 Account and software questions: Professional@TaxActService.com, 319.731.2682 Tax-related questions: ProTaxHelp@TaxAct.com, 319.731.2680 P...
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The Twelve Days of Christmas Giveaway

Posted on by Megan Monaghan
***GIVEAWAY IS NOW CLOSED*** The Twelve Days of Christmas Giveaway, with TaxAct Professional In celebration of the holiday season and the 12 Days of Christmas, we will be offering a drawing for prizes each day! To enter to win one of twelve prizes, each valued at $100, please complete the form below. For any questions, please do not hesitate to email megan.monaghan@taxact.com. What Are the 12 Days of Christmas? Did you know that the true Christmas season actually starts on Christmas Day itself? Yep, that's right - December 25th marks the official start of the 12 days of Christmas. Why?...
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North Carolina Business Recovery Grant Program

Posted on by Megan Monaghan
The North Carolina Department of Revenue has asked that we provide you & your clients with some important information about the Business Recovery Grant Program.  The window for NC business to apply is very small.  All applications must be submitted by January 31, 2022.  Please help us in spreading the word about this program with your network. Apply Here: https://www.ncdor.gov/business-recovery-grant#about Deadline: January 31st, 2022 The program will issue a one-time payment to eligible North Carolina businesses that experienced significant economic loss due to COVID-19. Two type...
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North Carolina Business Recovery Grant Program

Posted on by Megan Monaghan
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Have You Considered a .CPA Domain

Posted on by Matthew Davis
.CPA is a new, secure domain exclusively available to licensed CPAs starting January 15, 2021.  Having a .CPA domain will help you secure your data, enhance client trust, and strengthen your brand. To apply or learn more, visit https://register.domains.cpa/ today. Brought to you by the AICPA and CPA.com The AICPA is the world's largest member organization representing the accounting profession.  CPA.com is the business and technology arm of the AICPA.  Together, AICPA and CPA.com have worked extensively with ICANN (the internet's governing body) to bring .cpa domains to the profession.
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How to Improve the Value of Your Tax Practice

Posted on by Matthew Davis
You’re building a successful practice. And while you may love what you do, at some point, you might consider selling your practice. Maybe you plan to sell it when you approach retirement. Or maybe you want to sell it to pursue a new endeavor. Whatever the reason, we can all agree that getting top dollar for what you’ve created is ideal. How do you position your practice to get the highest value offer you can? It starts with understanding how a prospective buyer will value a tax practice for sale. How is a Tax Practice Valued? When deciding on a sales price, the final price is often a multiple ...
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Get your Clients Ready for Tax Season

Posted on by Matthew Davis
2020 is coming to an end, and with the extended tax deadline, both you and your clients haven’t had much of a chance to relax. But just because you’ve had a shorter off-season doesn’t mean you and your clients should ignore any preparation that needs to happen before tax season. As we dive into another tax season, here are five things you’ll want to do to get your clients ready. Review your processes Take some time to review your previous tax season. Take stock of what worked and what didn’t and identify any bottlenecks in your process. For example, you may not have an easy and efficient way ...
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Grow Your Practice in 2021

Posted on by Matthew Davis
While you may be working in your practice day-to-day, it’s also important to step back and work on your practice. And there’s no better time to do that than the end of the year when things are a little slower with your clients, but the busy tax season is just around the corner. If you want your practice to grow and thrive, taking the time to intentionally build it each year will pay dividends. Not sure where to get started? We have a list of ideas to help you get started. Review pricing Is your pricing model still serving you and your clients? When you started your practice, you may have gone...
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Get the Help You Need with TaxAct Professional

Posted on by Matthew Davis
Tax season is in full swing, and we know our Pros are heads down working hard for your clients. If you have questions or need assistance with TaxAct® 2018 Professional, we have several ways to help you. Online We continue to build out our FAQs to save you time. Our most recent update can help with practice setup and linking accounts. You’ll also find information on: Getting started Log-in Issues Account maintenance E-file IRS/State filing We also offer videos and webinars for you. Subjects covered include setting up master billing info, customizing your info and prefe...
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Make Time to Grow Your Practice in 2019

Posted on by Matthew Davis
This time of year is hectic for tax preparers. Meeting with clients, doing research, and preparing returns are vital to the business. Often we hear that Pros are so focused on working in their businesses that they don’t take time to work on their business. It’s important to slow down and to consider how to grow your practice. Accounting businesses are often cyclical – they have a busy season, and a very busy season. Managing staff, fighting fires, overseeing projects, and finding new business take a lot of your time and effort. If you find time to consider how to grow your practice, you mos...
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Qualified Business Income Deduction Simplified

Posted on by Matthew Davis
Last month the IRS issued final 199A Regulations, implementing the qualified business income deduction (QBID), created by the 2017 Tax Cuts and Jobs Act (also known as 2017 tax reform). The deduction can be claimed by eligible taxpayers for the first time on their 2018 Form 1040. According to the IRS, “Section 199A of the Internal Revenue Code provides many taxpayers a deduction for qualified business income from a qualified trade or business operated directly or through a pass-through entity.” There are two components to the deduction: The QBID allows eligible owners of partnerships, ...
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IRS Tax Reform Resources for Pros

Posted on by Matthew Davis
The 2017 Tax Cuts and Jobs Act, also known as 2017 tax reform, initiated many changes for tax professionals this season. It’s important for tax preparers to understand what those changes mean for their customers, and that can take time. Fortunately, the IRS has provided several resources to help wade through the confusion. Webinars Did you know the IRS has a video portal where they’ve posted webinars to help tax pros? Not only are the webinars available for viewing, but there are also transcripts of the webinars available. To name a few, subjects include: Tax Reform Due Diligence Re...
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reCAPTCHA: What it is and How it Protects You and Your Client Data

Posted on by Matthew Davis
Every tax professional is a potential target for highly sophisticated, well-funded and technologically adept cybercriminals around the world. No one can fight this crime alone. It takes all of us working together. That is why the Security Summit - the unprecedented partnership between the IRS, state tax agencies, and the private-sector tax industry - came together to form a united and coordinated front against this common enemy. One of the changes for TaxAct® 2018 Professional includes a requirement for “bot protection,” meaning preventing an automated way of trying several username/pass...
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