Protection Plus: Like Equifax, a Data Breach Can Happen

Stolen information? Lost identity? The data breach that hit Equifax is the most recent reminder that a data breach can happen to any company. If you were one of the 145.5 million people who had their personal information compromised in Equifax’s data breach, you are probably in the midst of dealing with chaos and paying for costly help to ensure you take the steps you need to recover properly now and prevent future headaches. Some of the steps include: Be aware & take precaution Initiate fraud alert Monitor your credit reports These steps take time and can be stressful, makin...
Read More

Protection Plus: 4 Ways to Help Prevent a Data Breach

In addition to preparing your clients taxes, you are also responsible for keeping their private information safe. As a tax professional, you have access to a lot of confidential information that cybercriminals want. Here are some important procedures you can implement to reduce your chances of a data breach. Take precaution: It may seem obvious, but a main priority for keeping information safe should be having top-notch security software that includes a firewall, anti-malware and anti-virus system programmed to automatically update. You can add an extra layer of protection by having an out...
Read More

Protection Plus: Cyber Liability Information

Cyber criminals are targeting tax professional systems to access taxpayer data. There is much talk addressing consumer concerns, but little is said about protecting the tax professional from the impact of a data breach. A study sponsored by IBM and conducted by the Ponemon Institute released in June 2016 found the average cost of a data breach is $221 per lost or stolen record. At this rate, a tax preparation business with 350 client records can expect to incur a cost of $77,350. (more…)
Read More

Protection Plus: PATH Act Effect on EITCs and CTCs

President Obama signed the “Protecting Americans from Tax Hikes Act of 2015,” or the PATH Act, on December 18, 2015. It was the most notable tax legislation to be passed by Congress last year, and it will have a great effect on the upcoming tax season. It extended many expiring tax provisions, permanently in some cases, and it also addressed Earned Income Tax Credits and Child Tax Credits. (more…)
Read More

Biz2Credit: Financial Tips Webinar for Accountants

This webinar features tips and advice specifically for tax professionals from Biz2Credit, small business funding experts in accounting and small business finance. Topics include best sources of capital, and growth strategies for tax preparers, CPAs, and their clients. The webinar features Tracy Kelleher, Vice President of Business Development at Biz2Credit.
Read More

Protection Plus: General Audit Information

Who does the IRS audit? 1. Taxpayers with Suspicious Activity This can include taxpayers who have made mathematical errors on their returns, who claim an unusually high amount of charitable donations, who are self-employed and report too many losses or business expenses, who fail to include part of their income, or who round up a little too much and too cleanly. When filing a return, be exact with the numbers you have for your clients’ income, expenses, and losses to avoid suspicion. 2. Random Audits These audits are not based on any suspicious activity or specific part of a tax retu...
Read More

BluePay: Expand Your Tax Preparation Business with a Virtual Terminal

Whether you prepare taxes in a brick-and-mortar storefront location, in your home, or on the road, you can easily hand-key credit, debit, or ACH payments using a virtual terminal. A virtual terminal allows you to securely process transactions without: A physical credit card terminal The need to swipe/insert your clients' cards (more…)
Read More

SurePayroll: Five Ways to Evaluate Your Tax Business after Filing Season

For many accountants and professional tax preparers, the end of filing season can bring a sigh of relief and a welcome slowdown in client work. Although the tax deadline can bring back some sense of work-life balance, successful tax preparers use the month of May and beyond to evaluate the filing season, their business and to start preparing for next year. (more…)
Read More

BluePay: Protecting Your Tax Preparation Business Against Identity Theft and Fraud

In the U.S., there is a new identity fraud victim nearly every two seconds. Most of this theft targets financial information directly. After all, access to bank accounts and credit card information is the ultimate goal of most criminals. Yet, a lot of identity theft centers around personal information like driver's licenses, Social Security numbers, and contact details. Using these, criminals can often indirectly access sensitive financial data. As a business owner, it is important to take preventative measures to reduce identity theft within your payment environment. This article explai...
Read More

Webiquity: The Indispensable Business Owner’s Guide to Networking Online

As a business owner, you can use great networking skills to find employees and clients. You've probably heard the statistic that more than half of professional relationships in U.S. were gotten because of a connection that the professional had. This may lead you to wonder – where are they getting all these connections? Contrary to what you might think, many of them weren't just family and close friends who gave them a good reference. Using online business social networking tools has dramatically changed the landscape for online business to business marketing. So how do you do this? In...
Read More

BluePay: Checklist for Choosing a Payment Processor

Once you've decided to accept credit cards in your practice, make sure you select the right payment processor. Here's a checklist to refer to that will help you get what you need to keep your practice on track and make your life easier. 1. PCI Compliance By electing to accept payments, your business must adhere to and comply with the PCI Data Security Standard (PCI DSS), created and updated annually by the PCI Security Counsel. A PCI compliant processor has already taken the steps to employ the highest levels of data security to ensure that your confidential business information is secur...
Read More

BluePay: Top Four Reasons to Accept Credit Cards in Your Practice

Accepting credit cards makes doing business easier for both you and your clients. While implementing a solution to accept credit card payments at your practice may seem overwhelming, consider these benefits: Easier, faster collections. Sending invoices and waiting for paper checks can take several weeks. Accepting credit cards eliminates that delay. Improved cash flow. When your clients can pay with their credit cards, you receive payment immediately and your business has improved cash flow. Valuable documentation. Keeping track of credit card activity is easy because electronic reco...
Read More