Clients Guide Tax Withholdings Being a tax preparer means serving your Clients Guide Tax to ensure that their financial situation is kept in check, as no one ever likes surprises when it comes to the monetary side of their life. Tax liabilities, for instance, can be quite the deduction for any person or organization and their profit. It’s important to avoid these as much as possible. One steady practice of keeping finances in order is the proper maintenance of one’s Clients Guide Tax withholdings amid different adjustments in their life. Here’s a simple guide on how to handle tax withholdings:   1) Identify the Reason for Adjusting How the Clients Guide Tax withholdings will be adjusted can solely depend on the reason behind the change in the first place and what the shift’s effect will be. There are different processes concerning various adjustments, and knowing the cause will make things easier to organize. For example: Changing Jobs. When losing a job or getting a new one, it usually entails a new source of income. Account for that when preparing taxes by using the IRS Tax Withholding Estimator and filling out the Form W-4 in their stead based on the terms of their job. Getting a Child. Having a new child either through birth or adoption can bring forth a number of tax benefits via the Child Tax Credit. With this further adjustment, shift the withholdings to include a new dependent under your profile. Having a New Relationship Status. A marriage or divorce can change your relationship status and have quite an effect on your tax withholdings. Accommodate those changes, especially before the end of the fiscal year, to avoid issues.   2) Get the Best Software Tools such as the IRS Tax Withholding Estimator can be quite helpful, but there are several calculations that will simply be too difficult for you or your clients. Efficiency is paramount during these times, both in terms of costs and time. To achieve that, be sure to eye suitable technology that will assist you in your tasks. Seek out tax preparation software that would assist you with whatever data that you have and adjustments that must be made. You can cater more effectively to a wider pool of clients with such advanced programs. Getting a client’s taxes in order will provide better customer satisfaction and help with retaining their patronage for your services as well.   3) Start the Adjustments Early As soon as you receive word about the life change that will affect one’s tax withholdings, act as quickly as possible. Get the information from your client so that you can assist them when those shifts are in motion. Following up through emails and arranging in-person discussions can ingrain the tax adjustments quicker in one’s financial records sooner.   4) Work on Client Guide Tax Education Clients may not be aware of how important it is to change one’s tax withholdings in the first place. Be sure to share the benefits and consequences of such attention to detail through client education and proper communication. Be a little thorough when providing information regarding these common life changes and what should be done because of them.   Conclusion When making such important decisions, your clients may not be aware of these practice shifts surrounding their taxes. Although these are common and evident throughout different stages of one’s life, it’s important to accommodate and account for them regardless of fulfilled finances. Looking for the best professional tax software? Keystone Tax Solutions offers professional tax software for tax preparers. Try it out today!

Filing for Becoming Tax Preparer is one activity that most people prefer not to do because it requires a lot of time and effort. Fortunately, there are professionals known as tax preparers who can lend a hand in this matter. If you’re the type of person who enjoys crunching numbers, you may have a prosperous career as a tax preparer.   What Are Professional Tax Preparers? The Internal Revenue Service (IRS) defines a tax preparer as individuals or firms who prepare and file a tax return or claim for refund or credit. They do this by going over tax returns, advising taxpayers on tax issues, and even assisting in getting tax returns ready. The profession typically requires additional education and licensing to become a tax preparer. However, some states allow individuals with a high school degree and knowledge of tax law to work as preparers.   How Much Do Tax Preparers Make? According to the latest data from the Bureau of Labor Statistics (BLS), the average salary of a tax preparer is around $46,860. Similar to other positions, the pay can increase or decrease depending on the individual’s experience. For example, tax preparers with only a year of experience typically make $11.04 per hour. It increases to at least $12.18 per hour if one has two to four years of experience. It’s also worth noting that salary varies depending on state and employer.   What Does It Take to Become a Tax Preparer? If you’re interested in becoming a tax preparer, you must first have the proper credentials recognized by the IRS. You either become a Certified Public Accountant (CPA) or an enrolled agent. A CPA is a licensed accountant with a four-year bachelor’s degree and at least 150 hours of related accounting coursework at a college or university. On the other hand, an enrolled agent is a candidate with at least a four-year bachelor’s degree and a minimum of three years of experience performing specific prescribed tasks, including tax return preparation.   What Equipment Do Tax Preparers Need? If you have the right background to start a career as a tax preparer, you then need to have the necessary equipment to perform efficiently. Tax preparers require access to the internet and computer software to complete their job. In addition, you should also consider acquiring a professional tax preparation software. These applications offer features to help you reduce errors and enhance the efficiency of your work. Most software for tax preparers also allows you to record data and process it faster, helping you complete your work in a more timely manner.   Where Do Tax Preparers’ Work Include? The best thing about being a tax preparer is that you can work in a variety of industries, including but not limited to customer service, accounting and finance, healthcare and social assistance, and education. However, it’s most common for tax preparers to work for accountants or CPAs. If you’re uninterested in working for others, you can also establish a tax preparation business. Doing so allows you to be your own boss and work alone. Later on, you can collaborate with other tax preparers to accommodate more clients.   Why Work as a Tax Preparer? As a tax preparer, you get opportunities to work remotely with most of the equipment you need for the job you likely already own. Additionally, you can also choose to establish your own tax preparation business. Therefore, you have more freedom in determining when to work and the type of responsibilities you take on from clients. Even if you work for someone else, you can still choose the solutions you want to offer. For instance, some tax preparers manage payroll and bookkeeping and provide bank products like settlement solutions. Aside from the services, you can also choose to specialize in tax preparation for people in a particular industry or demographic.   Final Thoughts Tax preparers are invaluable to the tax filing process. They assist taxpayers in filing their tax returns and advising them on tax issues. The job pays quite well, and you can also enjoy flexible scheduling and more freedom in choosing the type of work you perform. If you’re looking to get started as a tax preparer and want to use the best professional tax software, consider choosing Keystone Tax Solutions. We offer affordable tax preparation software designed to help you grow your tax business. Try our free demo today!

Are you trying to Maximize Tax Deductions? If so, one of the most important first steps you need to take is understanding the deductions themselves. Only by thoroughly understanding the deductions and credits can you know where to look for these Maximize Tax Deductions and be eligible for them to cut down on your tax. That said, if you’re here looking for ways to make the most out of tax deductions, here’s what you should be doing:   1. Donate to Charities Chances are, you’ve already made a donation to charity. It could be a large donation to your school’s alumni association or to your favorite organization. However, if you haven’t already made a donation, this is the time to do so. This is because the contributions you make to charity can be deducted from your Maximize Tax Deduction. In fact, you get to deduct up to 50% of your adjusted gross income, so long as the charity  you’re making the donation to is a non-profit and the donation you’re making is up to 15% or more of your adjusted gross income. Therefore, if you’re a high earner looking to save money on taxes, it could be in your best interest to donate to a charity that is meaningful to you. Just make sure that you get a receipt for your donations, which will make it easier for you to claim your Maximize Tax Deduction.   2. Contribute to Retirement Accounts There are many tax-advantaged accounts that you could be contributing to—from traditional 401(k)s to Roth IRAs. However, one of the most important accounts you could be contributing to is your employer’s retirement plan. This is because an employer’s retirement plan is a tax-advantaged plan available to employees, which means you can enjoy the benefits of lower taxes and possibly even a tax break for contributing to your employee’s retirement plan. The exact tax break you’ll get will depend on how much you contribute, but the main benefit of contributing to a retirement account is that you can get a tax break on your contributions.   3. Take Advantage of the Child Tax Credit If you have children, you could be eligible for a Child Tax Credit, a credit that is worth up to $1,000 per qualifying child. This helps to reduce the income tax you will have to pay, and it also makes it easier for you to get a refund. To qualify for the Child Tax Credit, you need to make sure that your children meet certain criteria. For one, you need to make sure the child is your dependent. In this case, you’re your child’s dependent if you provide more than half of your child’s financial support. You also need to make sure your child’s age is in line with the tax credit, so your child must be under the age of 17.   Conclusion There are plenty of other ways to maximize your tax deduction, and more so than what we’ve shared today. Regardless, these tips allow you to enhance your tax-deduction benefits, meaning that you can save more on taxes if you follow them. That said, if you want to know more about how you can save on taxes, feel free to reach out to professional advisory services for help. They can go through your finances and see exactly how you can deduct your taxes to enjoy maximum savings. Keystone Tax Solutions offers professional tax software for tax preparers. If you are looking for the best professional tax software to enhance your tax preparation efforts in the US, check out our software today!

There’s nothing business dread more than having to deal Behind Tax Audit. One of the most important tax-related statements you cannot miss out on is your IRS audit. An IRS audit is an examination or review of your or your organization’s accounts and financial information. This ensures that all the information you reported correctly follows what Happened Behind Tax Audit laws and guidelines to verify that the taxes you submit are correct. Fortunately, even financial professionals can get some help with this thanks to Keystone Tax Solutions, one of the best professional tax software to help individuals compute their taxes and prepare for waht Happened Behind Tax Audit season. If you’re asked to present a Behind Tax Audit, but you’re unsure of what it is and what to do, keep reading. In this article, we’ll share everything you need to know about tax audits and what really happens. Let’s take a look!   Why was I Selected for what Happened Behind Tax Audit? Don’t worry; if you’re selected for an audit, you should know that it doesn’t always suggest a problem. Below could be the following reasons: You may have been randomly selected. This is often based on statistical formulas when your Behind Tax Audit is against the “norms” of similar returns; You may have been chosen based on related examinations that involve issues or transactions from other taxpayers, like your business partners or investors; After knowing the reason, an experienced auditor will review your return. During this time, the auditor may accept it or find things questionable. If it’s the latter, they will identify the items noted and forward the return for assignment to a group of examiners.   How Will I Know If I’m Being Audited? Usually, the IRS will notify you by mail. You should note that your account is selected for what Happened Behind Tax Audit; the IRS won’t initiate an audit via telephone.   How Does the IRS Conduct an Audit? The IRS manages audits through mail and in-person interviews to review all your records. This interview may be done in the IRS office or in the taxpayer’s home, business, or accountant’s office. However, please note that the IRS will first contact you via mail and provide you with instructions. If an audit is conducted via mail, the IRS’s letter will request additional information about certain items in your tax return, such as your income, expenses, and itemized deductions. However, you can request a face-to-face audit if you have many books to mail. Seeing as you’ll need to work with your past records for an audit, it’s important to use the best professional tax software to ensure all tax information and items are complete. This will help make the audits faster and accurate.   How Long Does an Audit Take? The length of an audit will vary depending on the type of audit, the complexities of the issue, the availability of the requested information and parties, and your agreement to have your information audited.   The Bottom Line: Streamline Your Audits With the Best Professional Tax Software There’s no doubt that agreeing to an audit can be daunting and overwhelming, but the best way to take some weight off your shoulders is by using the best professional tax software to streamline computations and more. Thankfully, software like Keystone Tax Solutions is readily available for accountants and individuals, so working and preparing for your tax will be much easier.   How Can We Help You? Nothing’s more complicated and nerve-wracking than having to prepare for a tax audit. Because of this, you need to work with the right tools, like the best professional tax software, to help you with the job. Keystone Tax Solutions is an affordable tax software designed to help elevate your tax process. Our 100% cloud-based technology allows you to manage your documents, create unlimited federal and state returns, provide exceptional customer support, and more. Learn more about how we can help you today!

Tax Software Accountant for Individual Taxes With every critical job comes whether or not to do it yourself or hire a professional. Even though tax preparation Tax Software Accountant has improved over the last few years, Certified Public Accountants (CPAs) and other personal tax preparers are still in demand. Still, many people are torn between these two choices. This article examines the pros and cons of getting tax software or a professional accountant to do your individual taxes. The Benefits of a Tax Software Accountant   1. Cost-Effective The main benefit of using tax software is saving you money. Some tax software comes with free updates for life. This means worrying about filing your taxes every tax season is not necessary.   2. Time and Convenience Tax software allows you to complete your taxes by yourself without going to a tax preparer. This is incredibly convenient if you are not fond of getting an appointment with your tax preparer. You also do not have to worry about any human errors due to higher levels of accuracy.   3. User-Friendly These programs are user-friendly and very easy to use. You will spend less time preparing taxes because the software does most of the work for you. Most of the preparation and math are done for you when filing returns. Additionally, the software will do a lot of the number crunching. Your choice depends on how much time you want to spend preparing your taxes and your preference for preparing your taxes on paper or a computer.   4. Can File Multiple Tax Returns Tax preparation software is also helpful for those who need to file multiple tax returns. Suppose you are a freelancer or independent contractor. In that case, you may need to fill out an additional Form 1040 Schedule C. With tax software, it is easy to file multiple tax returns without completing other forms.   5. On-Demand Access Tax software is accessible at any time, on the internet, and can be used anywhere. Because you no longer have to go to your tax preparer, this is a good solution if you are too busy. In addition, with the software, you can go back and input your tax documents as they come in, making the preparation process simpler.   The Benefits of an Accountant (CPA) 1. Better Accuracy In general, a tax preparer is more accurate than software. This is especially the case if you are filing multiple tax returns. CPAs are more knowledgeable than tax software, as they have years of experience when it comes to filing taxes. Also, CPAs will be able to answer your questions and concerns as you prepare your taxes.   2. Personalized Service Hiring a tax preparer gives you the advantage of discussing any questions or concerns you may have with the tax professional. This allows you to get the best service and ask any questions or concerns. In addition, you can discuss your taxes with a person while tax software is unable to do so.   3. Special Circumstances If your circumstances are different from others, CPAs have a better chance of helping you with your taxes. For example, if you are self-employed, you can take advantage of the services offered by a professional tax preparer.   Conclusion For most people, tax software will be the better choice. However, if you are self-employed or have unique circumstances, a CPA may be a better option. In the end, your decision will depend on your personal preference. Keystone Tax Solutions provides 100 percent web-based, technology-driven, affordable professional tax software for tax preparers. Our All-In-One Software Package is designed for small and large tax offices with multiple branches and many employees, most popular for tax offices with 50-500 clients. This package also includes all 1040, Sch C, and state. Stop overpaying in hidden fees and overpriced software! Get our tax pro software now and enjoy a free demo today!

What You Need to Know about the Audit Protection Process An audit defence strategy works by shielding you from the dangers and stress of dealing with the IRS or a state tax agency on your own. Audit Protection process also ensures that auditors are held accountable for their findings. If you owe any taxes at the end of your audit, a team of tax experts will do their best to get you the lowest amount feasible based on your facts and documents. Being audited may sound overwhelming, but you don’t have to worry about it when you have a team of tax experts on your side to help you with the following:   Planning In the midst of a tax audit, you want as much assistance and counsel as possible. We’ll examine for any possible mistakes or omissions, and we’ll explain why the audit was necessary. When it comes to proving your income, deductions, or dependents, we know exactly what the examiners are looking for. Even after the fact, proving your spending might be a challenge. In order to avoid a lengthy audit, avoid submitting sloppy and unorganized records. A solid foundation for your documentation is the best technique in virtually every situation. One chance to create a good impression is all that is given.   Organizing Getting ready for an audit starts with a thorough reading of your notice and specific instructions on what documents to gather. For an audit defence case to succeed, you will need to sign a Power of Attorney designation or permission form(s) to make the representation official. Because email is not secure, it is not used for private correspondence. We work with you to get the papers back to us in a timely way because the tax office usually has a deadline for submitting them.   Delivering Results When it comes to the quality of the job we do on behalf of our members, it’s clear that we genuinely care about them. For incredible value, we provide top-notch service at a reasonable price. The best-and-worst-case scenarios we can provide are as accurate as any crystal ball we may possess, but we can’t predict the future. We will do everything in our power to ensure that you receive the best possible outcome in your audit protection process case.   Conclusion Due to filing and reporting mistakes, or accidental omissions, audit changes on a self-prepared tax return are unavoidable. It’s a good thing that there are several situations in which additional taxes imposed by an audit can be fought back. Your tax expert can assist you in minimizing non-compliance fines in the event that an error cannot be remedied. With an audit protection process service, you may reduce some of the stress associated with receiving a notification from the IRS. There are no issues as long as you have it and adhere to the IRS’ requirements. At Keystone Tax Solutions, we offer a professional tax preparation software that can help protect you from audits. We know how stressful it may be to handle taxes, which is why we’ll take care of the paperwork for you. Contact us now!

If you understand and enjoy navigating the world of tax preparation and realize that you have the passion for helping others fix their tax concerns, then perhaps, starting a tax preparation business is the right one for you. Not all are gifted with this interest in the industry. So, if you want to take advantage of this fascination and decide to start a business after all, here are the steps you need to take to bring the idea to life.   How to Start Your Tax Preparation Business   Step 1: Prepare Your Requirements for Tax Preparation Business Registration The first thing you need to do is prepare your state, local, and IRS requirements. Documents you need to submit for startup include: Your business name Information for your legal entity Other information, such as your contact details and social security number If you have never opened a business before, you need to register your entity. That means you have to decide whether you want to do business as a corporation or a Limited Liability Company (LLC). You need to establish your business address, open a business bank account, and make sure that you have enough money to maintain your business before you start.   Step 2: Obtain Your Preparer Tax Identification Number (PTIN) Next, you need to get a preparer tax identification number (PTIN) to begin your tax preparation business. You must have this identification before registering with the IRS and be allowed to prepare taxes and enjoy the tax preparation business. The IRS allows all licensed attorneys, certified public accountants, enrolled agents, and tax practitioners to obtain this PTIN. You also need to gain a PTIN if you offer tax preparation services as an individual. Also, if you’re planning to hire employees to work on your behalf, you need to make sure they have their own PTINs too. You can get a PTIN at the IRS website.   Step 3: Get an Electronic Filing Identification Number (EFIN) If you are doing your business online and have already established your website, you need an electronic filing identification number (EFIN). It is an identification number that the IRS gives to individuals involved in e-filing. You can get an EFIN in several ways; you can fill out an online application and pay a $50 fee or call the IRS with your credit card details. Make sure you have an EFIN when you register for a PTIN. The EFIN is also needed to file state and local tax returns electronically.   Step 4: Establish Your Business The final step is to open your tax preparation business. You need to ensure that you are ready to greet your clients and respond to their tax preparation needs. That will require you to have a location to operate from and an office that meets all the registration requirements. Your business location must be in an accessible site where clients can easily find it. Or you can also opt to work from home and start your business online. More importantly, you need to advertise your business and make sure your clients know your services. That will help you build your reputation, which will, in turn, attract more clients.   Conclusion Starting up a tax preparation business is not as hard as it seems. The most important thing is to ensure that you meet the requirements and enjoy the benefits of being a tax preparation business owner. As long as you work hard and are willing to learn, you can succeed in your new venture. If you still need more help in starting your tax preparation business, like finding the best professional tax software to speed up your work, you can check out Keystone Tax Solutions. Our tax software is easy to use and can help you prepare taxes in just minutes. Try it today!

In the first part of this series, we introduced the number of ways to begin easing your clients into using IRS resources come the tax season. Now, let’s go deeper into the process. Here’s part two of how to prepare your client for using IRS resources! Follow a Strict IRS Checklist The Internal Revenue Service’s Tax Preparation Checklist, according to IRS.gov Publication 5349, claims that year-round tax preparation is for everyone. It presents a straightforward and visually appealing collection of tax planning tips for people for different tax brackets to easily understand. Publication 5349 emphasizes the need to keep proper tax records. Through effective record-keeping strategies. For this reason, Publication 5349 enumerates a list of relevant documents, such as year-end W-2s from employers, 1099s from banks, other income statements and records, and virtual currency transaction data for you to take note of Reviewing publication 5349 can help you create your own list of papers to request from consumers. Customers should start organizing their documents as soon as possible before calling you for tax preparation and planning services. Thankfully, a tax preparation checklist can be found in IRS Publication 5349 as a quick reference guide for preparing a tax return. Remind clients to bring these items with them when they come in for their tax preparation appointment. Provide a Compliance Kit Using IRS Publication 5349, you can create your own tax preparation checklist. You may choose to develop many checklists to meet the needs of various clients. There are checklists for individual taxes, corporate clients, and charities or nonprofit organizations, among others. Your checklist does not have to be as long as the one in Publication 5349. That is only a high-level overview of the most prevalent requirements. Individual taxpayers should keep the following goods on hand: The prior year’s tax return All family members’ SSNs and birth dates Identity with a photograph (driver’s licenses, passports, and military identification) Schedule K-1 of Partnership Income on Form 1065 Bank and financial records W-2 forms were provided by their employers. 1099-K 1098 IRS Forms for Child Care (Mortgage Interest Statement) Additional details on property taxes Expensive receipts (medical, childcare, etc.) Receipts (if applicable) For business taxpayers, remember to include the following: Return for the fiscal year preceding Employee Identification Number (EIN) Partnerships in P&L (if applicable) Data on ownership shifts (if applicable) Bank and financial records Receipts (if applicable) Acceptances of capital assets When producing a tax compliance package for your clients, include reference materials to new tax year developments. This year, you’ll have to explain the American Rescue Plan Act and the Consolidated Appropriations Act. Discuss Major Life Occurrences Each customer is unique, and you should treat them as such. This requires being aware of major life events that have occurred or are currently taking place. Life events might have an impact on tax returns, according to the “Managing Your Taxes After a Life Event” page. Thus, comprehending your client’s experience and applying it to their tax returns is simply good service. Although delicate in nature, you can also talk to your clients regarding this matter. The following are examples of taxable life events: Marriage Divorce/separation Becoming a parent Changing careers Employment loss Bankruptcy\s Natural Disaster Serious health concerns First-time homebuyers who are relocating A family member has died. Conclusion In today’s modern age of digital technology, tax experts can now employ a professional tax preparation software to make things easier. This means that you can educate and work with any client seamlessly when it comes to taxes, policies, and using IRS resources. So, there’s no need to worry! You can be ready and seasoned just in time to prepare your client for the next tax season. Backed with almost 20 years of experience, Keystone Tax Solutions is a leading firm that helps tax professionals start their own businesses and thousands more obtain access to cheap technology-driven software for tax preparers in the US. With us, you can develop a profitable tax practice. Get a FREE demo today!

As a tax expert, you are in charge of preparing your clients for the annual tax season by using IRS resources. This usually involves holding productive meetings wherein you can explain everything about a tax return so that your client can understand the situation clearly. After all, if you and your client are on the same page then you can deliver better service! Managing this crucial part of the preparation process can prevent mistakes, misunderstandings, and other issues. Moreover, this is also the time wherein you can craft a strategy with your client. With clear understanding and mutual trust, you can also further educate your clients about tax policies. Read on to discover how to prepare your client for using IRS resources.   Set Expectations In Using IRS resources At the earliest time possible, set your client’s expectations. This way, they are aware of what they will and will not receive when it comes to working with you. Avoid future inconveniences by clearly stating what your services do and do not cover. To be able to engage effectively with your clients, it’s vital that you stick to a consistent communication and scheduling system.  Additionally, you can determine your customers’ preferences and make an attempt to tailor your workflow around their needs. You must also, of course, supply your contact information through various channels. You can also instruct your clients on how to reach out to you. For example, emails can be used for file sharing and formal conversations. Meanwhile, calls or text messages can be used for immediate responses and urgent cases. Aside from this, you can set up a customer portal or a website to upload any essential electronic documents.   Provide Instructional Tools When it comes to explaining tax forms to your clients, make it fun, engaging, simple and brief. Thus, you can use educational tools such as handouts and videos to properly outline the critical information they should be aware of. Moreover, these tools can be provided digitally or be given as printed materials. Some customers would prefer to watch instructive films rather than receive leaflets. Consider making a short video that explains how to comply with income or corporation tax rules. If not, you can find a YouTube video that could serve as the teaching tool. Either way, this undoubtedly improves your consumer engagement using IRS resources.   Gain Access to Shareable IRS Resources Fortunately, the IRS.gov website provides a variety of free tax law and regulation information that is accessible to everybody with internet connection. As a tax expert dealing with clients, this is the most dependable source you can find today. For example, Publication 5349 (download here) contains a free digital handout that you can distribute to your clients. It explains how to prepare to file taxes for the following year. The following topics are covered in IRS Publication 5349: ITIN Refunds Received Acceptance of e-filing possibilities Changing the mechanism of withholding taxes Obtaining an estimate of one’s tax liability Credits and deductions Unemployment benefits Keeping your data safe To add, information about the 2020 Economic Impact Payments (EIP) and how to apply for a Recovery Rebate Credit has recently been uploaded on the official website for your reference.   Conclusion Taxes are not as simple as they seem. This is why people hire experts or employ professional tax preparation software to guide them through the dreaded annual tax season. So if you encounter a clueless client, keep these steps in mind as you guide them through the process. With the proper tools, communication and patience, and discipline, you will be able to best prepare your client on how to use IRS resources! Are you looking for the best professional tax software? Keystone Tax Solutions has over 15 years of experience helping tax professionals in the US start their own businesses, and thousands more obtain access to cheap technology-driven professional tax software. We offer quality and excellence with unrivaled rates and services to help you develop a profitable tax practice. Get a FREE demo today!

Many business owners have started to understand that managing finances manually would not help them achieve the expected results. As a result, they have begun to look into reasons accounting software that would help them manage their finances more efficiently. But before deciding to implement professional tax preparation software or general reasons accounting software, you should first understand how it works and how it can benefit your business. Furthermore, you should also determine if it meets all your requirements, including those of your employees.   What Is Accounting Management? Basically, accounting management is an automated method used in recording, storing and processing information related to finances. This includes any business transaction done in and for the company.   Why Should You Use Accounting Management Software? If you have been managing your finances manually for a long time, you will see the benefits of using accounting management software. In fact, you will see how it can benefit your business in the following ways:   1. Time Efficiency When using a general accounting system or professional tax preparation software, you can save time and energy. This is because the automated system will do most of the work for you. All you have to do is to enter the data, and the software will do the rest.   2. Accuracy The automated systems provide accurate data. In fact, you can rely on the data that it provides as it is based on the format that the government agencies use. Therefore, chances of errors are reduced.   3. Better Decision Making When you can have an insight into your company’s performance, you will be able to make better decisions. This is because you will be able to understand how your company is doing.   4. Less Stress There is less stress because you will not be stressed out when trying to manage your finances. This data can then be used by the business owner and other people involved in the management of a particular business. This helps them to make well-informed decisions when it comes to managing their finances.   5. More Accurate Financial Forecasts With the use of 7 reasons accounting software, business owners and decision-makers will make much more accurate financial forecasts. This is because they will be able to manage the information accurately to make the forecasts more accurate.   6. More Time The use of automated software can help you to have more time to do other things. This is because you will be able to manage your finances on your own without any help. 7. Lesser Errors When you are trying to manage your finances manually, there is a high chance of errors. This is because you might enter the wrong data or forget to make a specific entry. But, with the use of accounting management software, there is less chance of errors. Conclusion After you have decided to use accounting software, the next step is to choose the one that will suit your needs. There are lots of software available in the market, and it can be difficult for you to select one. However, you should remember that it should be able to manage your company’s finances properly. You also need to decide whether you’ll get dedicated software for different functions or just one that offers general features. For instance, you might want professional tax preparation software for that specific function and little else. The person who handles that task will only have to use that particular software, and they won’t be confused by other features that they don’t need. If you are looking for the best professional tax software for your tax preparers, Keystone Tax Solutions is for you. Reach out to us today to know more about our software or try a free demo now!

If you’re part of a business or a household, the odds of Benefits Audit Protection by the IRS are little to none. Although the actual audit process can be intimidating, it’s also necessary for the IRS to conduct. The agency relies on taxpayer information when conducting audits protection benefits, and it’s also a way to ensure the tax code is enforced and that those who don’t pay their fair share do so. Unfortunately, taxpayers don’t always come to the IRS prepared for an audit. We saw that in a report from The National Taxpayer Advocate of the Internal Revenue Service, which revealed that taxpayers may need to be better prepared for an audit than they are now. The good news is that this is possible thanks to one thing: Benefits Audit Protection. In this article, we’ll go into detail about Benefits Audit Protection. Read on below to learn more.   To Know Benefits Audit Protection  Benefits Audit Protection services help taxpayers respond to IRS requests for information, including requests for documentation, interviews, and legal representation. The audit process is complex and confusing, and even taxpayers who have done everything right can trigger an audit. That’s when they need  Benefits Audit Protection services most. However, just because taxpayers may have Benefits Audit Protection doesn’t mean they completely understand what is at stake during an audit. That’s why it’s essential to know how audit protection services work, including their limitations. Taxpayers can turn to their representatives for help navigating the audit process, but it’s essential to know that audit protection services aren’t always free. Taxpayers can work with licensed tax professionals to receive audit protection services. These professionals can be lawyers or CPAs who can provide valuable support in the event of an audit. The IRS also has its own version of audit protection services—and they’re free.   Who Can Give Benefits Audit Protection Services? Taxpayers might think that Benefits Audit Protection services are only available from paid representatives, like licensed attorneys and CPAs. The IRS offers a free service called Representation Services that provides taxpayers with a representative to help with appeals and audits. But it does have limitations, the most notable of which is that it’s only available to low-income taxpayers. Taxpayers who make $52,000 or less may qualify for Representation Services. Taxpayers who do not qualify may seek audit protection services from third parties. There are two types of tax professionals who can provide Benefits Audit Protection services, either lawyers or Certified Public Accountants (CPAs).   The Benefits Audit Protection Benefits Audit Protection is a service that many people employ simply because it offers the following benefits:   Saves You Money Any IRS issue takes a lot of time to resolve. You’ll save a lot of money if you have a professional managing everything for you.   Saves Time No matter how minuscule an IRS notice may be, it will take hours upon hours to finish everything because there are many things to do, such as collecting the required documents and constantly communicating with the IRS.   Gives You Peace of Mind As mentioned earlier, an audit notice from the IRS is intimidating, which can undeniably cause a great deal of anxiety. If you have a professional working alongside you, you can rest easy knowing that they will help you resolve your tax issues.   Other Things to Remember You can buy audit defense for a single year or multiple years. If you purchase audit representation for one year, you must buy another year to continue receiving protection. If you don’t file your taxes with a tax-preparer or if your tax-preparer recommends you buy audit defense or representation, you must still sign the tax return and be responsible for the accuracy of the return. If the IRS challenges it, you’ll be in the same boat as if you’d hired a tax-preparer and had a professional review the return. If you’re audited, you’ll pay a fee that starts at $200 and goes up depending on the amount you owe. If the IRS disagrees with your numbers and sends you a bill, you may end up with a balance due that’s higher than your tax refund.   Conclusion Getting a notice from the IRS can be stressful, but you can lessen some of the hassles by getting an audit protection service. As long as you have it and you comply with the instructions laid out by the IRS, you won’t have any problems. Keystone Tax Solutions has the best professional tax preparation software that can help with your audit protection. We understand how hard it can be when you get a notice from the IRS, which is why we will do the work for you. Contact us today to learn more!

As the saying goes, “It takes a village to raise a child.” You could say the same thing about Tax Business Employees. As a Tax Business Employees preparer, there is no doubt that you are constantly up to your elbows in work. There’s never a shortage of clients and work to be done. While that is manageable in the beginning, it’s not sustainable. You probably know by now that it takes more than just tax expertise to run a successful Tax Business Employees. Apart from using professional tax software, you need help from people. Ready for a few tips to help you hire the right people? Hiring an employee is a vital part of your business. Here’s where you need to start:   Identify Your Needs First, ask yourself what kind of help you need to run an efficient Tax Business Employees. In your mind, what’s the ideal Tax Business Employees for running this business? How many employees do you require? You need to determine that first. You may only need temporary help only on certain days of the month or year. Do you need someone to handle customer service? This can be a full-time, part-time, or project-only opportunity. For example, you may need a bookkeeper to ensure that your Tax Business Employees does not run out of cash. On the other hand, you may need a Tax Business Employees preparer to help your existing client list. Make a list of all the traits you want in your employee. The more specific you can be, the better.   Define the Role Define the role and look for the right kind of characteristics in an applicant. You need someone who can take your practice to the next level—and grow with it, especially if you plan to hire additional staff in the future. As you think about candidates, make sure you’ve got a solid plan for your Tax Business Employees and how you’ll manage the new employee. The more specific you can be with your job description, the better. Make sure you’re clear about what you’re looking for in your new hire and make sure it’s easy for the applicants to understand the position.   Think about Salary Be prepared to pay a fair wage that’s competitive in your area. You can look at your competitors’ salaries to get an idea of what it should be. You’ll want to take into consideration that you’ll probably increase an employee’s pay with experience. Consider the Tax Business Employees practice’s expenses, too. Make sure you allocate enough to cover overhead costs, such as office supplies, equipment, and other costs.   Find Candidates Once you’ve settled on your requirements for the job and salary, your next step is to find candidates. This will be the most time-consuming part of the hiring process. If you don’t have an extensive database of candidates, you can post your position on job boards and social media to get the word out. You can also talk to your existing contacts and ask if they know anyone who fits the bill. While you want to find someone who fits the role you’ve outlined, don’t forget that you’re hiring a person, too—someone with the skills and personality to work well with your business and clients.   Conclusion Running a tax practice for a long time is not easy, especially with the massive pressure of the IRS and the State taxing authorities. There’s a lot to take care of and a lot of room for a mistake. The best way to win the war for a tax business is to have a good team of tax experts. A professional tax team can make a huge difference, especially if your tax practice is more of a one-person show. A good tax team will help you manage cases, grow your tax practice, and, more importantly, will help you manage yourself. With a good tax team, you’ll be that much closer to achieving your business goals. As tax preparers, you are the experts in these situations, but you can’t deny that it can be a bit much to handle. At Keystone Tax Solutions, we want to help you. We offer the best professional tax software to make your life and your client’s life easier!

It usually becomes a burden when Preparation Tax Software season comes because you need to set aside time from your busy schedule to prepare your taxes. To help lessen the burden, many people go to tax preparation firms and have other people do the work for them. For people who are in the tax business, they use software to do the job. The most significant stress in tax preparation is the paperwork, not the actual computation of the tax. You can save yourself a lot of time by making your tax preparation software more efficient. However, it’s a broad concept, and chances are no one might know what to look for in tax preparation software. So, what exactly makes tax great? We’ll shed some light on the matter in this article. Read on below to learn more.   #1 – Pricing You must purchase the software you’ll use for the whole year, even if you purchase it during Tax season. Some companies offer “free” versions of their Tax, but you’ll have to pay after a certain period of time or limit your filings to a number below what you need. This may end up more expensive in the long run. It’s recommended that you do some research before you buy. Review several of the tax preparation software companies’ websites to see if they’ll work for you or not.   #2 – Form Inclusions Tax Preparation involves filling up many forms, so you have to make sure your Tax includes all the forms you’ll need to file your clients’ tax returns. Most tax preparation companies offer tiered options, including more basic levels that may not include everything you need. If you work with business clients, do your research to ensure that whichever option you select contains the features and functionality your business needs.   #3 – Data Conversion Data conversion is something that only applies when you’re planning to switch to a new Tax. However, it’s still worth considering because you’ll want to make your work easier by maintaining client data. If you’re unsure about how a tax preparation software does data conversions, you can ask the software company’s customer support questions such as: How long does data conversion to another software usually take How do you do data backups? What are some issues that I might encounter while using the software?   #4 – User-Friendliness Like any other software, user-friendliness is also vital to tax preparation software. There’s no doubt that it’s an effective tool, but it’s essential to be aware of specific features that may or may not exist. For example, some tax preparation software is more geared toward providing tax filing services than others. It’s possible to use some tax preparation software to file your taxes directly, though you’ll save money by choosing software that includes various features you’ll need to serve clients better.   #5 – Customer Support The root of all customer support issues is how the software performs whenever you’re using it. However, you must know what to expect when using customer support to know what to do if something goes wrong. When you’re choosing an online tax software for your business, find out what the company’s customer support operates like. The good news is that most tax providers offer phone support or email support, so this shouldn’t be a problem.   Conclusion Choosing a tax preparation software is no easy task, especially if you’re using it for your business. You must consider the things mentioned above so that you’ll have little to no problems as you work for your clients. If you’re looking for the best professional tax software, look no further than Keystone Tax Solutions! Our software has various features, all of which you can use to work more efficiently. If that’s not enough, you only have to pay once for access, so it’s more than a great deal. Contact us today to learn more!

The recent impact of the COVID-19 outbreak put the world in a disarray and the economic downturn caused industries everywhere to temporarily turn the lights off as national lockdowns took place. Remote set-ups showed the workforce’s resilience to push forward, and while social distancing is easing, working from home became the new normal for many employees. While many professionals miss the old nine-to-five mold at the office, the success of working from home proved that employees can have a flexible working environment and thrive in their careers. For remote employees love turning parts of their home into a workspace, it brings greater convenience, more control over one’s time, and a higher level of productivity, but it also brings one of the biggest headaches: State Tax Changes.   Remote Working: How Does That State Tax Changes? State Tax Changes laws depending on a number of factors, but the key drivers include the taxpayer’s residence, place of work, and the employer’s office. Many states tax changes have taxpayers file and pay their taxes based on their current setup, and in this case, it can be your home’s location. However, there is also the Convenience of the Employer Rule, which favors the employer by basing the tax income on the head office location instead of the individual employee’s workplace. Seven states currently follow the Convenience of the Employer Rule from Arkansas, Connecticut, Delaware, Massachusetts, Nebraska, New York, and Pennsylvania. In that regard, there are still exemptions to consider as state laws often vary in different places.   Possible Changes: Paying Double State Taxes Changes on the Same Income Some states require taxpayers to pay double taxes—one in their place of residence and the other in their employer’s office location. This is particularly true for clients who live in states that follow the Convenience of the Employer Rule, though many government states are striving to balance the financial burden placed on remote taxpayers by offering a tax credit. The tax credit offers money the same amount the taxpayer paid to the state where they are earning. Whatever the case may be, it’s not a surprise that tax preparers will need to cater to take into account the different taxes for multiple states tax changes, but integrating tools like tax software can help streamline the process for everyone involved—the tax preparer and the taxpayer.   The Bottom Line: Remote Work and Its Impact on State Taxes Changes for Taxpayers As a tax preparer, you may have more clients who are now working from home as the pandemic fast-tracked the drastic increase and acceptance of remote work. The new setting may bring questions about state taxes change, so it’s a good idea to refresh your knowledge with possible rules and regulations that may change based on your taxpaying client’s place of work and the location of their employer’s base.   Are You Looking for the Best Professional Tax Software to Improve Your Services? Dealing with taxes can be challenging for anyone, even as an expert tax preparer. If you’re looking for innovative solutions that can streamline your tax preparation process, our professional tax software for CPAs can help simplify matters for you. Our affordable technology can empower tax preparers and help you start a tax business with no EFIN, so get in touch with us today at 1.800.504.5170 to see how we can ensure your tax business is booming.

Most Americans dread tax Preparer Eitc, but it would be a lucrative career! When you prepare taxes for others, you’ll grow and learn every day, feel fulfilled by helping others, and enjoy the profits due to the high demand during tax Preparer Eitic season. Unfortunately, given the number of tax preparers in the market, it can be challenging to find clients who acquire your services and trust your expertise. If you want to grow your client base and earn more, why not invest in word-of-mouth marketing? Words hold tremendous power, primarily when trusted people speak them. Once a past client shares their positive experience with you, they may hook in potential clients, helping you grow your business. However, to ensure that your clients share their testimonies with their circle, you must first provide them with a smooth and seamless experience.   How to Provide the Best Service As the role’s name suggests, tax preparers are supposed to prepare the taxes of their clients. But, to generate positive word-of-mouth regarding your services, you may want to do more for your clients. If you want to be a successful tax preparer, you must go above and beyond in serving your clients by not only saving them from the hassle of the tax process but also helping them pay less in taxes than they initially should have. Saving your clients a lot in taxes and increasing their refund is good for the client and yourself! By utilizing the Earned Income Tax Credit (EITC) and understanding the recent changes around it, you’ll be able to serve your clients better.   What Is the Tax Preparer EITC? The Earned Income Tax Credit (EITC)is designed to help low to moderate-income taxpayers. Through the EITC, clients can enjoy a significant tax Preparer Eitc break that can offset taxes owed or increase their refund amount. For your client to qualify for the EITC, they must meet the following criteria: Have earned income during the year Have a valid social security number by the tax filing due date Have made $10,000 at most in investment income for the tax year Cannot file Form 2555 or Form 2555-EZ (foreign income) Be a U.S. citizen or resident alien the entire year   How to Calculate for Tax Preparer EITC You calculate your client’s EITC by using their Adjusted Gross Income (AGI), filing status, and the number of dependents. For accurate and easy calculation of your client’s EITC, we recommend using a tax pro software that will automatically account for the EITC and notify you if any of your clients qualify for it. Under the Tax Relief Act of 2020, your client can use their 2019 income to calculate their EITC for their 2021 Tax Preparer Eitc return if their 2019 income was higher than their 2020 income. If your client didn’t earn any income in 2020, they’d benefit from this.   Conclusion To be a successful tax preparer, you must provide the best services and put your client’s interests above all. Make sure to invest in excellent tax pro software, stay updated with the changes in tax regulations so that your clients will remain happy, and even share their positive experiences with others, leading to more clients! Do you want to make tax preparation easier? Then, our tax pro software at Keystone Tax Solutions may just be what you need! Our ALL IN ONE Software Package is designed for small and large tax offices with multiple offices and many employees—you can enjoy unlimited returns, add unlimited users, and three prior year return access. Get a free demo now!

 Accounting tax Software need all the help they can get. At this point, when a company is still young, it may not yet have enough resources and budget to hire a small business accountant. This is where using reliable Accounting Tax Software may come in handy. This Accounting Tax Software will fill in for an accountant. It will provide accurate software solutions that are accepted by the Internal Revenue Service. The reality is that a Accounting Task Software needs to have an accounting system in place, no matter how small or large their income is. The thing is, doing taxes may not be an easy task, especially if one has never attempted to accomplish accounting tasks in the past. If you are a small business owner who is struggling to get their financial documents in order, or if you are a tax accountant who wants to automate your tasks further, this article is for you!    Accounting Tax Software for Small Businesses It is crucial to get off on the right foot when it comes to the finances of a business. Even companies that are only just starting will already have expenses that need to be taken into account for it to run smoothly. Aside from the fact that even small businesses may sometimes get audited, there are a few more key advantages that come with adapting a convenient software for your taxes.   1 – Maximize Your Deductions For small businesses to stay afloat, it is essential to find all the hidden  Accounting Tax Software deductions to help lower the tax rate they pay. This is a legal way to help put more money in the pockets of the owner.   2 – Makes Filing Easy Instead of scrambling and trying too hard to figure out how to file your taxes, using tax software will eliminate the stress of getting your financial documents in order and filing your taxes. After you input all the particulars into the system, you will be able to sign the document with an electronic signature.   3 – Minimizes Chances of Error As a first-timer in tax filing, there is a huge margin for error when it comes to successfully getting all your tax documents right. Simply inputting the information needed will minimize the chances of any filing errors from happening.   Why Small Businesses Get Audited There are a number of varying reasons why small businesses may get audited. Mismatches on your tax returns because of mistakes in filing may be one of the main reasons to warrant an audit. Business losses, excessive expenses, missing income, or high deductions may also be reasons for the IRS to have your company audited. No matter the reason, it is not good for your business to be audited. This unwanted attention may be avoided by using tax software.   Conclusion In a nutshell, there are a lot of expenses and particulars that a small business may be able to write off. This may include labor, office equipment, and any other expenses that contribute to the smooth running of the operations of the business. It may seem simple on paper, but it may sometimes get confusing. This is why using tax software may greatly help a small business find its bearings and gain a foothold in its chosen industry. Whether you are a small business owner, or a tax accountant, finding professional tax preparation software is the key. Download Keystone Tax Solutions, the best professional tax software for businesses! This software for tax preparers has tax pro software that can help automate the filing of taxes and make life easier!

Filing income tax returns can be pretty intimidating, and many people dread this period each year. Do you really have to fill out tax returns even if there’s no need to? Here’s something to motivate you—you can get a hefty bonus check from the government if you’re diligent about accomplishing this task. The first thing to note is that there is a certain income bracket where some citizens aren’t required to file a tax return because their income is not taxed anyway. However, if you’re not included in the bracket, it is important to note that you may qualify for tax credits, and you may get a refund. This means you can get a good amount of cash by filing your tax return. Here are some reasons that might convince you to get your receipts out and begin the process of filing:   1. Earned Income Tax Credit Earned Income Tax Credit (EITC) is offered for people within a certain income bracket. If you meet the qualifications for this credit, you must file your tax return to take advantage of it. This credit is classified as refundable, which means that if the amount of the credit is more than the income tax you owe, you will get a refund check from the IRS. You can check the available tool on the IRS website to determine your qualification. It largely relies on income, as well as your civil status and dependents. For instance, if the pay you earned in 2021 and your Adjusted Gross Income is $15,980 as a single individual, you are qualified. However, if you have three or more children, your income can be as high as $57,414, and you will be qualified for EITC.   2. Child Tax Credit If you are a parent with a child that’s 16 years old or younger, you may qualify for the child tax credit. The maximum you can get is $2,000 per child with a refundable credit worth $1,400. If you want to check if you qualify, again, you can go to the IRS website and use their online tool.   3. Recovery Rebate Credit Even if you did not get your first or second round of stimulus checks in 2020, you may still get paid and claim the recovery rebate credit in your tax return.   4. Withheld Taxes If you file a 2021 tax return, you might be eligible for a withheld income tax refund taken from the withholding tax your employer paid on your behalf.   5. Taxes Paid On the other hand, if you are an independent contractor or you are self-employed, you may also have had estimated tax payments in the previous year. If you filed a tax return in 2020, you may apply the refund to your 2021 taxes and lower your tax liability.   Final Thoughts If you had not filed income tax returns before because you thought you didn’t have to, these mentioned reasons might change your mind. Give it a try for yourself, and if you get used to it, you’ll be able to regularly do your tax returns with no problem at all. And if you can’t fit filing into your busy schedule, you can use taxation software to ease the process. For the best tax return software, try out Keystone Tax Solutions. We offer professional tax preparation software to take care of the hassle in this complex process. Contact us today for a free demo!

One of the trickier ways to boost your business is through word of mouth. However, when done well, a tax firm will be able to get valuable business from it! Contrary to popular belief, even if the tax professionals, deals, and customer service are the best, it doesn’t mean there will be a buzz. Needless to say, referrals from happy clients are the best possible way for word of mouth to catch on. That said, preparation has to be done for it to actually happen.   A Buzzworthy Experience In Boosting Your Business When a professional tax preparer sets goals, the primary one should involve excellent service and a highly positive experience. That way, the clients will become fans who will organically generate a buzz by sharing their experiences with the people in their circles. There’s actually a way to go about it so that it happens every time in a way that can be shared with other staff.   Things to Consider: Everything Every little detail counts, like the way customers are greeted upon entry. Acknowledging them isn’t enough; it has to be done quickly. The waiting time should be established from the get-go in an honest manner. Refreshments should be available—at the very least, iced water. The reception area has to be spot-on, comfortable, and actually welcoming as well. That includes appropriate toys for children, a coffee station, and/or a television showing entertaining shows or the like. It should actually start well before they step into your office. Were they properly briefed before the appointment, including what they should bring? If the answer is yes, look into the tone of those conversations. Without breaking professionalism, you should come off as genuinely warm, inviting, and helpful. Interpersonal skills can go a long way, and tax preparers should actively build client relationships. Aside from making sure client needs are met, at the end of an appointment, there should be a quick summary section. Review point by point how the client’s taxes were minimized, then remind them to refer the service to people in their lives which promote your business fast. Consider a referral program and, if it exists already, be sure to explain it to the client.   Offer Perks Think about it: you always feel the need to share when you get a bonus of any sort, a freebie, and/or perks. You will want that same effect to spill over to clients. As previously mentioned, having a referral program is an excellent perk to start with. Perks can vary, but some ideal ones to consider include, but are not limited to: A solid guarantee that covers client satisfaction and the accuracy of tax preparers An exclusive group where a Q&A can commence Regular updates on relevant news Extend this to your social media and/or newsletter as well: offer a free session as a reward for Top Fans or a certain milestone number of followers. This is also a great avenue for fostering client relationships.   Conclusion Word-of-mouth is a great marketing tool if it’s used correctly. The best way to boost your business to develop this is by giving clients a buzzworthy experience. Consider everything from their briefing before an appointment is set, how they’re treated at the office, and perks like a referral program. One of the best ways to gain business through word-of-mouth is having the right tools required for the job, such as a professional tax preparation software. Keystone Tax Solutions today offers the best professional tax software out there. Contact us today!

6 Social Media Platforms Tax Preparation Businesses Must Use Running a tax preparation business entails several different elements. Bringing in technology and utilizing tax preparation platforms is already one way of ensuring that the operational aspect of the business, but how about in terms of promotions and marketing? Tax preparers may believe that certain forms of advertising, such as social media marketing, aren’t needed. However, that isn’t the case at all. In fact, the average person spends at least one to two hours a day on social media at a minimum, meaning the likelihood that your next client is scrolling by is high. Take advantage of their screen time by promoting your business on social media: If you want to learn about how you can begin, Here are the six main social media platforms that tax preparation businesses should consider getting started and going active on.   1) Facebook Platform For Tax Preparation Facebook has reached almost two billion users already, with the social media platform buzzing now more than ever. If you’re hoping to network and reach people, Facebook’s enormous user base is enough reason to get onto the platform. Creating a profile to amass a following would also be a good call for your tax preparation business to try out. Do keep in mind that Facebook is a platform where the algorithm favors consistent posts that vary in the text, links, and media shared.   2) Twitter Twitter is a unique social media platform with various kinds of users. The main way of promoting on this site and connecting with people is through information sharing and interactions in tweets. Present some knowledge to help potential clients know that your tax preparation business is well-informed about the industry.   3) Instagram Compared to how text-based Twitter is, Instagram leans more towards images and videos. Tax preparers can make their feed consistent and compelling to impress potential clients and partners. Participating in engagement by following, liking, and commenting on people’s posts can make them more aware of your business, too.   4) LinkedIn If reaching an audience where you get the highest chance of engaging with a fellow business owner is what you’re looking for, LinkedIn is the social media platform for you. This professional networking site can connect you with many potential clients and form relationships. There are several LinkedIn groups that you can participate in, such as Tax Business Owners of America and more. Aside from using your own profile to join in those groups, you can also create a LinkedIn Company page of your own to create posts.   5) YouTube YouTube is the biggest video platform online, and many businesses already utilize it to deliver audiovisual content to people and promote their business. Join the sphere and create videos that can provide engaging lessons to your audience. You could even promote other social media channels in the video description as well.   6) Personal Blog Although it may not be a direct platform, having a company blog for your tax preparation business can be a great way of consolidating all your content into one place. You can copy and paste the site link onto your other social media profiles so that interested clients can delve into your website and learn more about your business and its services.   Conclusion With this guide, you should have more insight into how your tax preparation business can promote itself. It’s not great for companies that offer excellent services and utilize the best technology to go unseen or unheard of, after all! Looking for professional tax preparation software as an additional tool for your business? Keystone Tax Solutions offers the best software for tax preparers in the USA. Contact us today!

Are you interested in learning more about professional tax preparation and pursuing a career in that field? If that’s a yes, then this article will be perfect for you. As you know, being a tax preparer is not an easy role. You have to go through needles just to be eligible to perform the task. If you’re planning to become a tax preparer, here’s everything you need to know about the field:   Is There a Mandatory Licensing for Tax Preparers? If you want to become a tax preparer, fortunately for you, you don’t need to obtain mandatory licensing because the IRS doesn’t require it. However, there are things you need to take care of before you can legally prepare tax returns. The first thing is the Preparer Tax Identification Number (PTIN). You need to have that because all tax preparers must obtain it. If you file tax returns electronically, you also need an Electronic Identification Number (EFIN) from the IRS.   What Education Must You Obtain to Become a Tax Preparer? The good thing about being a tax preparer is that you don’t need any formal education in accounting or tax law. However, some require that you should be a high school or college graduate. Even if it’s not necessary to have any accounting or tax law background, it doesn’t mean that you should settle for whatever you have. There are several credentials and continuing opportunities you can apply to improve your credibility as a tax preparer.   Are You Required to Work All Year If You Are a Tax Preparer? You are not required to work all year if you are a tax preparer, but some tax preparers do. However, you should know that being a tax preparer doesn’t mean that you are only focused on tax preparation tasks; you should be able to perform other tasks related to accounting, such as: Bookkeeping Managing employees Preparing taxes for late filers Preparing quarterly taxes for businesses and freelancers   Can You Start Your Tax Business from Home? While working in an office setup is the norm, you can still do business at home. However, you need professional tax preparation software to manage and simplify remote communication with your clients. Fortunately, Keystone Tax Solutions can provide you with tax pro software that can help you. But, before you start your business from home, you should check your city’s regulations on running a business. Some states may require you to have a registered business address before you can officially accept clients. If that’s the case, you can always opt for co-working spaces as an alternative.   How to Know If a Particular Software Is the Right One for You? You’ll know that a software is the right one for you if it can meet your business needs.  It should be able to help you manage your business easier and well. So, you should find software customized to your business design so that you can do your tax preparation more efficiently.   Conclusion Being a tax preparer can be daunting. It’s not just about filing and consolidating your client’s tax requirements; you also need to take care of other things that can be overwhelming on your part. Fortunately, you can now take advantage of software for tax preparers. The software can now make your job easier, and you can now manage your business smoother.  Keystone Tax Solutions offers the best professional tax software. We are a professional tax software industry leader with over 15 years of experience offering 100 percent web-based tax software while helping thousands of tax professionals start their own tax businesses. We also help thousands of companies to gain more access to affordable technology-driven professional tax software. Choose your software package from us today!

If you have ever wondered what professional tax preparers do, what qualifications they require, and how to get started, you’ll find the answers to frequently asked questions on beginning a career as a tax professional.   All You Need to Know About Tax Preparers The Job: In a nutshell, professional tax preparers assist individuals and corporations in filing their tax returns. These services are offered in exchange for a reasonable fee. The Title: Tax preparers and accountants are terms that are sometimes used interchangeably, although they are very different. Not all tax preparers are accountants, and not all accountants are tax preparers. Similarly, some accountants do not assist with tax preparation at all. The Season: Tax season is traditionally the most demanding time of year for tax preparers, and it is also when they earn the majority of their annual revenue. Many tax preparers make money throughout the year by handling business taxes or providing other services such as accounting, bookkeeping, or payroll processing. The Tools: Professional tax preparation software is essential, allowing preparers to file taxes swiftly and accurately for individuals and businesses.   The Daily Functions of Tax Preparers The specifics of a tax preparer’s to-do list may be slightly different from one another, but these are some of the most frequent duties that tax preparers accomplish during tax season and off-season: Throughout the Tax Season Attending client meetings Using tax software for preparers and related applications to arrange returns Assisting clients with bank products and tax return advances to get refunds Getting in touch with clients who haven’t filed yet During the Off-Season Tax return preparation for late filers Tax preparation for business clients Additional services such as bookkeeping or payroll   License and Certification Requirements for Tax Preparers To become a legal tax preparer, you’re required to obtain a PTIN (Preparer Tax Identification Number) from the IRS. And because the IRS encourages individuals to only consult with certified tax preparers, many tax professionals pursue extra education and qualifications indicated below. The Different Types of Tax Preparers Enrolled Agents (EA) The IRS’s highest designation for professional tax preparers is Enrolled Agent status. These tax experts must pass a three-part test and complete continuing education every year to keep their certification. Certified Public Accountants (CPA) CPAs are among the most highly qualified tax advisors. Although state standards differ, most demand a bachelor’s degree, two years of professional experience, a four-part exam, and graduate-level education. It’s important to note that not all CPAs operate as tax advisors. Other Tax Preparers and Annual Filing Season Program (AFSP) Participants The AFSP allows non-credentialed tax preparers to continue their study. The IRS designed this optional program that “aims to recognize the efforts of non-credentialed return preparers who aspire to a higher level of professionalism.” Participants must complete 18 hours of continuing education, which includes a 6-hour Annual Federal Tax Refresher course.   The Time Commitment to Becoming a Tax Preparer The tax preparation profession offers a low cost and experience barrier to entry, making it simple to get started even if you have no prior expertise. You may get started right away after applying for a PTIN with the IRS, and you can continue to pursue further education and qualifications as you go. What It Takes to Become a Tax Preparer If you’re interested in pursuing a profession in tax preparation, begin by: Getting a PTIN (Preparer Tax Identification Number) Obtaining an EFIN (Electronic Filing Identification Number) Choosing the Best Professional Tax Software   Conclusion A tax preparer helps people and corporations prepare, calculate, and file their income tax returns. By choosing the best tax software, you can better master the work of tax preparation. Keystone Tax Solutions offers the best professional tax software for tax preparers to help increase accuracy and ease complexity. Contact us today for a free demo!

Somethings around the corner, and it isn’t Christmas. As they do every year, tax preparers tips might help gearing up to conquer the tax season by ironing out any chinks in their armor. The key to a stress-free and effective tax season is to start early and not let it go to your head. Remember that if you clear your thoughts, you’ll have a much better chance of clearing through the mountain pile lying on your desk. Even better, with the help of the best professional tax software, you can save yourself energy and cut worktimes immensely. That said, here are a few pointers to help you get through tax season in one piece: 1. Top Tax Preparers Tips: Keep Yourself Sane  One of the primary reasons the tax season is so intimidating is because we allow it to be. Without question, tax season is the most stressful-slash-profitable time for tax preparers tips. Even during tax season, try to keep a normal lifestyle. Even if you have a lot of work on your plate, don’t let it get to your head and affect your health. A healthy diet will help you maintain your energy levels throughout the day. Working for long periods might reduce your productivity and make you more prone to mistakes. You should attempt to take brief rests and, if possible, meditate. Desk exercises are also an excellent method to regain lost stamina. 2. Block Off Time for More Complex Tasks If you have a customer with complex tax concerns that need a lot of concentration, reading, or calculating, schedule a time when you won’t be interrupted to focus. This implies arriving at the office before everyone else, staying late, or working from home. 3. Consider Delegating Tasks Consider outsourcing your inconsequential duties to others so that you may focus on more strategic concerns. On that note, hired help does not have to mean hiring full-time employees. If you’re still in the early phases of your firm, hiring full-time employees may be a liability for the time being. Instead, your company can hire freelancers, virtual assistants, or software for tax preparers. 4. Keep Yourself Accessible to Important Contacts Determine how the essential persons in your company would like to communicate, whether via email, text, or phone. Develop expectations with your bosses and supervisors on what they expect from you. You’ll be less likely to miss critical messages if you’re aware of their preferred communication methods. 5. Use Time-Tracking Tools A simple time management application, such as Outlook or Google Calendar, may be enough for most tax preparers tips. More in-depth project management and time management solutions may be appropriate for people who juggle many customers and activities. 6. Know When It’s Time to Say “No” Saying no to new clients is sometimes necessary. Unfortunately, this is a proven method to stifle your company’s growth. If you find yourself unable to handle all of the work in your company, try bringing in a partner or collaborating with another expert to assist balance out those hectic periods. Sometimes you have to say “no,” but only if it is genuinely necessary. Conclusion Your ability to manage your time as a tax preparer determines your productivity. Getting a grip on time management implies that your business will not only function more effectively but that your clients will receive better service as well. Put these ideas into action, and you’ll be amazed at how quickly your efficiency and production will improve. Are you looking for the best professional tax software? Keystone Tax Solutions has what you need plus more! Our tax preparer software aims to help small and large tax offices alike to help scale their tax preparation business. Get in touch with us today for a free demo!

Preparing taxes may be a daunting task, for anyone who isn’t a tax professional. This is part of the reason why there are so many misconceptions about tax professionals myths. They’re boring, they have to be exceptionally good at math, and they are only needed seasonally. These are only some of the lies that are currently circulating about workers in the tax profession. If you are considering a job in this industry and want to gain more information about the social climate and culture that you are getting yourself into, this article is for you! Here, we will set the record straight on some of the most common myths about tax preparers and the real score behind them.   Tax Professionals Myths You Have to Stop Believing Tax preparation is not an easy job, that is a fact. However, there are many myths about this profession that get in the way of people who actually want to make a name for themselves in the field. Here are some of the most common misconceptions about tax professionals myths that need to stop circulating.   1 – You Need to be a CPA While it would be an advantage for you to have a degree in accounting, it is not a must. This is because tax professionals myths falls under law, not accounting. It is possible to start a career in being a tax preparer even if you are not an accountant.   2 – You Need to be Good at Math Another myth is that you need to have a high aptitude for mathematics. However, this is another busted myth. Having basic math skills will be more than enough for you to do tax preparation well. You will need more analytical skills rather than math skills in this line of work.   3 – Learning to Do Taxes is Expensive and Takes Years This type of work will require you to undergo training. It will take time to learn the works, but it should not be more time consuming and expensive in comparison to other professions. If you would like to further your education and take accounting, you can in order for you to become a fully fledged accountant.   4 – Tax Preparing is Boring When it comes to the work you choose to do, some may find it boring and others may not. If you like organizing financial transactions, analyzing them, and preparing these documents, this may be the kind of work you think you may find joy in doing, this may be the right job for you.   5 – Tax Preparing Is a Seasonal Job While tax season only happens once a year, a tax preparer may be needed to help a business owner with their taxes on a quarterly basis. Also, tax preparers may also take a full-time role to help businesses become more efficient when it comes to managing their finances.   Conclusion The main reason why these myths (and most of the others not mentioned on this list) are busted is that most tax companies have modern technological innovations on their side to help make their lives easier. Selecting the right software will ensure that you have the right tools to set your business up for success. If you are a tax preparer in need of reliable software for tax, get Keystone Tax Solutions! This is one of the top-rated professional tax software for tax preparers. Interested parties may call 1-800-504-5170.

With the rise of professional accounting services and more business owners paying attention to the need for tax preparation software financial sharpness, skilled accountants are in very high demand for success and stability. For those skilled in the various disciplines of financial monitoring and management, this undoubtedly spells an invaluable opportunity to work with more clients and rake in returns. In the case of your accounting firm or tax preparation practice, in particular, you’ve most likely been seeing trends of increasing inquiries, increasing client counts, and increasing profit. Thanks to these various opportunities, your tax preparation software is most definitely ready to improve its infrastructure. One such step up in your operations worth looking at is the implementation of tax prep or accounting software that will optimize the way you work. Like any other investment, however, the idea of spending on a new and untested solution also brings up another question worth pondering: What should I look for when getting professional tax preparation or accounting software?   A Checklist of Elements to Watch Out For Today, the number of service providers and vendors offering accounting software for accounting firms, tax preparation practices, and businesses is larger than ever. And these solutions come in many different tiers, capabilities, and price points. And while an abundance of software choices yields increased accessibility, it also bears some difficulty in choosing the right product to work with. When settling on a specific option for your tax preparation practice, you must consider all the best features you need. Here’s a checklist of the right elements to keep an eye out for:   [  ] Widespread Integration One of the first things you need to look for when sifting through software. Options is the ability to integrate with other implemented solutions. As the industry becomes digitally revolutionized, some of your processes are likely already done on computers. By getting a tax preparation software that works with other components in your existing systems, you can enjoy a much more seamless working experience with tasks like: Record keeping Data migration Data collection Calculations   [  ] User-friendliness Another critical factor that should be present in your chosen or selected tax preparation or accounting software is user-friendliness. Of course, anyone in your firm—even those who aren’t tech-savvy—must be able to use your chosen option with ease. On top of ease of use, user-friendliness also extends to flexibility, functionality, report customization, and multi-dimensional reporting features.   [  ] Error Identification and Prevention In an industry where the smallest mistakes can spell disaster in all sorts of ways. It pays to have software that helps avoid these pitfalls. The best software options are developed and designed to help minimize errors or eliminate them altogether. This is precisely why options such as those offered by Keystone Tax Solutions contain features such as automatic calculation and automatic dynamic error checks that help firms stay on top of oversights. Conclusion Among the different solutions that you can invest in to give your tax preparation or accounting firm the advantages it needs, high-end software stands out from the bunch. Through the help of these solutions, you’ll have a much easier time handling objectives, meeting targets, and improving client retention. If you’re looking for a tax preparation business that can help your business navigate the factors that need to be dealt with during the 2021 filing season, we’ve got you covered. Get in touch with our team of experts today to learn more about how we can help you!

Self-employed Tax Penalties follow a different tax payment process than those employed under a business or a company. As tax is not withheld from their wages, it is their responsibility to file for them throughout the year. However, the process sometimes leads to tax penalties associated with not knowing how much to pay and when to do so. But is there a way to avoid this issue? Here are some tips to prevent your client from paying self-employed tax penalties.   1. Pay the Same Amount from Last Year Paying for the same amount of taxes from last year can help self-employed individuals avoid tax penalties. If they don’t have a copy of the taxes paid from the previous year’s tax return, divide their taxes into four equal payments and send each of them in by the IRS’ quarterly due dates on every 15th of April, June, September, and January. However, if the taxes for this year turn out to be higher than last year, your client would still be liable for what they owe, but they wouldn’t be charged an underpayment penalty. It’s also worth noting that they will not incur a fine for not making any payments before tax return time. But be aware that your client could have a large tax bill by the end of the year for not sending enough to cover the debts.   2. Provide Professional Advice Self-employment is a tricky move, especially for people who have worked in corporate or government positions for a long time. However, transitioning to a setup where they would have to do all the work will be an easy task with your help as a tax preparer. During your client’s first year of self-employment, make sure you can be there to offer them sound advice to assist with handling all their tax calculations. The point is to figure out the amount to pay and the expenses to deduct and become comfortable with the process.   3. Open a Bank Account for Business Expenses Life is easier if self-employed individuals could separate what they earn from what they spend. The easiest way to estimate quarterly taxes is by advising them to open a separate bank account and a credit card account solely for business purposes. These accounts should provide people with a clean record of their business spending in a year, making it easier to use as a reference for paying taxes on time. Overall, it’s easier to keep track of your client’s spendings if they show on a list in a specific account made for tracking.   4. Keep Track of Your Client’s Income Regularly Keeping a running tally of one’s income makes it easier to pay for estimated taxes on behalf of self-employed clients. You can compute their quarterly payments by calculating the sum of their total revenue at the end of each quarter. You can use it as a guide for whether an increase or decrease for their quarterly payments is necessary. In effect, the payments you make for them will be more efficient and accurate all the time. Therefore, your clients won’t miss any charges and dodge penalties along the way.   5. Overestimate Self-Employed Tax Penalties Since Self-Employed tax penalties can be a bit pricey, overestimating your client’s tax payments isn’t a terrible idea at all. As there is a fine for falling short, paying for more than the usual isn’t too bad considering the penalty they could get if they don’t meet their dues on time. Tax charges are generally about 0.5 percent of the amount owed for each month they do not settle their taxes or hire a professional to do it for them. Also, the interest charged on the amount underpaid from the day of the quarterly payment is considered due until it’s paid.   Conclusion Self-Employed  Tax penalties are easy to avoid as long as people keep track of their income and tax payments religiously. Therefore, as tax preparers, following these simple steps should ensure your clients avoid paying tax penalties and use the money for other more important things. To help manage tax payments better, Keystone Tax Solutions has designed the best professional tax software in the US to manage offices with multiple employees. Through our all-in-one software package, businesses can save more money compared to paying for overpriced tax software in the market. Visit our website to learn more.

It will make your transactions smoother, and you can earn the trust of your customers. If you are looking for ways to level the situation, here are some helpful customer service tips to help you deal with unhappy tax clients. Dealing with unhappy clients can be pretty frustrating, especially in the tax business. However, losing your cool in front of these people will not help the situation. Instead of making a scene, it helps to take a breather and respond in a helpful manner. Use Active Listening We often find ourselves responding reactively to something rather than actually listening to the speaker. This may occur when we are confronted with active criticism, drawing out a sense of defensiveness. However, this type of response is counterproductive. When an unhappy tax clients and ranting, hear them out thoroughly before you formulate your response. Even then, try to explain your side as calmly as possible to avoid further tension. Put Yourself in Their Shoes Before things get heated, think about how you would feel if you were in their situation. Empathizing with your clients is an excellent way to understand where they are coming from. Majority of the time, the client isn’t actually angry with you, but at the situation at hand. Tax clients, in particular, may be unhappy when it comes to financial crises. For instance, they will respond reactively if they expect a refund and then learn that they owe taxes instead. If clients are sensitive about their financial situation, it can lead to them being defensive. If you respond from a place of understanding, it will lessen the strain in the room. Don’t Invalidate Their Feelings When dealing with a unhappy tax clients, make sure never to call them out for their behavior—instead, acknowledge their feelings of frustration. Respond professionally and in a way that will make them feel heard and validated. When you acknowledge their feelings, it gives off the sense that you are willing to solve their problems. Even if the situation is not personally your fault, apologizing to the client will make them feel more valued. If you are speaking with your client via phone call or email, it still helps to open your responses in a way that oozes empathy and understanding. When you speak to your client in a certain way, they are likely to respond in a similar manner. Offer Solutions or Action Plans If you or any team member made a mistake towards the client, offer some solutions or action plans to make things right. Make the right calls and decisions to ensure your client’s satisfaction. If they are upset about communication errors, make sure to clear up any misunderstandings. When no immediate solution can be made, offer up some alternatives. For instance, if your client experiences unexpected tax liability, this will not necessarily be your fault. Nevertheless, empathize with their situation and explain what went wrong as calmly as you can without sounding condescending. Follow Up Even after Resolution Proper customer care etiquette dictates that even after a problem with your clients has been resolved, it helps to reach out to them. Ask your clients how everything went, especially if you forwarded their complaints to another division. Even something as simple as an email thanking them for their patronage should help. Dealing with unhappy tax clients is a challenging aspect of the tax preparation business, but it’s crucial for maintaining a professional reputation and client satisfaction. When dealing with difficult clients, especially in scenarios involving tax issues, it’s important to remain calm, patient, and empathetic. Understanding their concerns and providing clear, concise information can often alleviate their worries. Remember, dealing with unhappy clients requires not only technical expertise but also excellent communication and problem-solving skills. In the process of dealing with unhappy tax clients, it’s beneficial to have a strategy. If you’re wondering how to deal with difficult clients, you need to incorporate active listening, acknowledge their dissatisfaction, and propose practical solutions. Transparency and honesty in all communications are key to rebuilding trust. The effective resolution of issues not only solves the immediate problem but can also transform an unhappy client into a loyal one, thus enhancing your professional credibility in the long run. If you are a tax preparer looking for the best professional tax software, look no further than Keystone Tax Solutions. We offer digital solutions to help online tax professionals with their tax businesses. Contact us today to learn more!

Still, if Launching a tax business is in line with your passion, then it’s something you’ll definitely want to think about pursuing. Here are a few tips to help you start your tax business and get the ball rolling even while working at your day job: Starting a new business of your own can be incredibly exciting, but there is a lot to consider beforehand. It can be hard to take a leap of faith and dive into the unknown when you have a secure full-time job that helps you pay your bills and build your wealth. Launching a new venture also comes with tons of risks, and you may not see enough income until several months or years down the line.   1. Focus on Time Management Before Launching a Tax Business Your time and energy are indispensable, so you’ll have to figure out how to allot your most precious resources to your business while ensuring your performance at your full-time job doesn’t suffer. You’ll have to work out how you’ll manage your time better by finding the best ways to carry out by launching a tax business tasks, like using professional tax preparation software to automate some of this for you.   2. Review Your Current Commitments Before launching your business, write down a list of your current commitments and determine how much time you devote to each of them. Determine if you can take some time away from these to focus on your new business, as launching one requires lots of focus and dedication to ensure it goes successfully. If you have too much on your plate, consider cutting down before planning your tax business launch.   3. Check Your Sleep Schedule While this may not be high up on your list of priorities, sleep is essential to getting things done. Determine how much sleep you need to function at your best every night. Some people need a full eight hours, while others operate just fine at six hours. Whatever you decide, never skip on sleep, as your mind and body need ample opportunity to recharge to give you the brainpower and energy you need to jumpstart your venture. Additionally, be sure to stick to a schedule so that you won’t have a hard time sleeping.   4. Allocate Your Productive Hours to Your New Venture Your passion project deserves your most productive hours. If you’re a stubborn night owl, that means staying up late and doing what’s necessary to establish your business. If you come home from your full-time job feeling exhausted, consider going to bed and waking up early, so you have a few extra hours to dedicate to your new business. Finding the perfect schedule that suits you can take a while, but don’t be afraid to experiment, as landing the right arrangement will maximize your productivity.   5. Be Mindful About Your New Venture It’s easy to be excited about your passion project, but make sure nothing else slips through the cracks. Don’t let your business interfere with your current job, as you’ll put your steady income at risk when you stop performing as well. It’s also unethical to let yourself fall behind at work when starting a business of your own, so be aware of how you contribute each day to your job while focusing on launch preparations.   Conclusion Rolling out your own tax business can pave the way for an exciting future where you’ll live out your passion, dictate your own schedule, and take control of your income. By following these tips, you’ll be more prepared to launch your tax business even while committing to your full-time job. Keystone Tax Solutions is the best professional tax software for tax preparers. Designed to grow your tax business, it comes with money-saving benefits like unlimited federal returns, free e-file, 100 percent cloud-based technology, a document manager, and many more. Get a free demo today!

Taxpayers in the United States generally have until April 15, or two and a half months after the end of their tax year, to file their tax return completely. If you require reminders on taking care of your clients’ debts, here are some things to know about the different tax forms to ensure you don’t miss filing them on time.   If Your Client Is an Individual And Wants To File Different Tax Forms Form W-4: This calculates the amount that should be retained from an employee’s paycheck. Often, this form has no deadline because you or your client can accomplish it as they are hired as employees and updated as necessary. However, if your client is exempted from tax withholdings over the past year, you need to file a new Form W-4 with their employer by February 15 to spare them in the upcoming year. Form W-9: This is not presented to the IRS, so there is no deadline to file the form. Instead, you must seek the Social Security number or Taxpayer Identification Number of independent employees. Form 1040: This is the most common tax form that individual taxpayers use. There are different versions of this, and it’s always due on April 15.   If Your Client Owns a Business Form W-2: This reports the wages and taxes of employees withheld throughout the year. You must file it with the Social Security Administration by January 31. Employees must also receive a copy by February 1. Form 1099: This comes in various solutions and due dates. The Form 1099-NEC or Non-Employee Compensation contains information on payments over $600 given to freelancers, independent contractors, and other non-employee works that you must file by February 1. Another version is the Form 1099-MISC or Miscellaneous Income, which details the different types of payments a company makes that you must file by March 1 when using paper. On the other hand, if filing it digitally, you should submit them on March 31. Form 1120-H: This is a tax return for Homeowners Associations to help them gain from specific tax benefits. Its deadline is on the 15th day of the fourth month after the end of the HOAs fiscal year. Meanwhile, if the fiscal year ends on June 30, you must file the form by the 15th of the third month after the end of the fiscal year. Filing a simple tax form is almost as complicated as writing a program that helps people fill it out in the US. The problem with the US tax code is that it’s not just too long—it’s also quite complicated. There are so many special cases, glitches, exemptions, credits, deductions, and ways of avoiding the rules that the amount of time required to figure out what people owe can be exponential. It’s a lot more like programming than dealing with forms should be.   Filing Your Tax Forms When it comes to filing different tax forms in the US, being familiar with them and when they’re due is crucial and part of your job. As a tax professional, your responsibility involves helping others out, whether they’re individuals or business owners. You must strive to navigate the complicated process to ensure you can meet your clients’ needs. Get the best professional tax software in the US today. Keystone Tax Solutions will help you get more for less. Choose your package today!

As a tax preparer, it’s understandable if you tend to forget about the correct order of things, especially if it’s about the tax season timeline. You have a lot on your plate, and there are many things you need to take care of, so it’s forgivable if the tax season timeline is confusing and difficult to memorize for you. So, we’ve curated a simple tax season timeline guide to making your tax preparation more manageable and efficient. Let’s get started!   Overview of the Tax Season Timeline If you are a tax preparer for a company, you must have an overview of the timeline and crucial things that must be done in a year so that when it’s time to file the taxes, you already have all the resources you need without rushing yourself and the taxpayer. Here’s a simple timeline of the tax season you need to be aware of and prepare:   1. Months of December to February: Early Tax Season December is usually the start of tax season, and the Internal Revenue Service (IRS) opens around January 28. Most tax preparers are often not that busy during this season because taxpayers are still waiting on the tax forms from their employers, so the tax preparer has nothing to take care of yet until January 31, which is the due date of the tax forms. Months of December to January are the time for tax preparers like you to prepare for the next months and reach out to your clients to encourage their returning business. But, if you have an established practice, you may get busy as soon as the tax season starts because some clients fill up their calendar early to get their refund.   2. Months of March to April: Peak Tax Season These months are the months where you’ll find yourself the busiest because you probably need to keep up with the taxpayer who’s rushing to file their taxes before the deadline, which is around April 15. To save yourself from the rush, give your clients solutions to speed up the filing process or set a deadline of your own.   3. Months of May to September: Off-Season for Tax Preparers These months are the months for tax preparers to calm down and take a break because the tax season rush is finally over. However, not all tax preparers are not busy these months because different tax preparers have different clients and offer additional other services.   4. Months of October to November: Preparation for Tax Season These months are your time to prepare for the upcoming tax season. It’s better to start early as soon as possible so that you can make a thorough preparation to avoid the rush and potential complications. The preparations you can do can include setting up your tax pro software, updating and testing all technologies in the office, renewing your PTIN, reviewing any tax law changes, and reaching out to past clients.   Conclusion The responsibilities of a tax preparer are not that easy. If you are a tax preparer yourself, you should consider having professional tax preparation software to make your tax preparations easier to manage. It can make your life less stressful and complicated since you can easily track and monitor all your tax preparation requirements. If you are looking for the best professional tax software, Keystone Tax Solutions has got what you need! Our software for tax preparers aims to help small and large tax offices with many employees grow their tax business. Get in touch with us to know more about our packages!

Tax preparation is a steadily growing field, and individuals who wish to take on a tax preparer job are in for a stable and highly rewarding career path. They’re necessary professionals that help people and organizations navigate the confusing economic landscape we have nowadays. Tax preparers are qualified professionals that help individuals or companies file income tax returns, meeting with them throughout the process and ensuring that all documents follow laws and regulations. They’re in charge of auditing account details and liaising between their clients and the IRS. A job as a tax professional is not as simple as just using tax pro software and letting it do all the work—it’s a complex job that requires ample preparation. Planning and acting in advance will be crucial in setting them up for success and ensuring that they provide their clients with the best possible services. With this, here are some tips to get ready for your work as a tax preparer job: 1 – Prepare to Build Your Network Your first year as a tax preparer job is crucial in building your reputation as a professional. It’s the season for establishing your name and gaining credentials. You’ll meet numerous important people that can vouch for you, recommend you, work with you, or even take your career to the next level. It’s critical that you prepare yourself to get out there and build your network as much as possible. Fostering healthy working relationships with the right people is essential to your success, so it’s best to join events, ask for referrals, and maintain good contacts to set yourself up for a lifelong career. 2 – Set Financial Goals Being a tax preparer is a rewarding career path not only because you’ll be helping individuals and organizations, but also because it’s a lucrative and stable job if you play your cards right. Before you start working, it’s best to set specific and realistic financial goals for yourself. By doing so, you’ll have the motivation you need to work harder as you approach your target. Research how much tax preparers in your area earn, and base your objectives around that. 3 – Get a Preparer Tax Identification Number (PTIN) A preparer tax identification number (PTIN) is one of the most vital things you’ll need to have as a professional tax preparer. It’s a basic IRS requirement for all tax professionals, and you have to put it on every return you prepare. The IRS website will have the information you need to to apply for and be issued a PTIN. You’ll also need to renew it every year, but the registration and renewal processes don’t require any fees. 4 – Get Professional Tax Preparation Software Technology makes up a significant part of the job. You’ll need to work with software for tax preparers to ensure that you work as efficiently as possible. By using a specialized platform, you’ll be drastically reducing errors and speeding up your processes, helping you take on more clients and maximize your profit. Invest in the Best Professional Tax Software Becoming a tax preparer is a rewarding career choice that combines financial expertise with the satisfaction of assisting others. As you explore the path of becoming a tax preparer, it’s important to remember the tax preparer job requirements. These typically include a strong foundation in tax law, attention to detail, and excellent customer service skills. A tax preparer career offers the opportunity to work in a dynamic and ever-evolving field, where each day brings new challenges and learning opportunities.  Is a position as a tax preparer a good job? Absolutely. It’s a profession that not only provides stable and competitive financial rewards but also offers the flexibility and satisfaction of helping individuals and businesses navigate the complexities of tax regulations. With the right training and dedication, a career as a tax preparer can be both fulfilling and lucrative, making it an excellent choice for those with an interest in finance and taxation.  If you’re looking for the best professional tax software in the US, Keystone Tax Solutions has you covered. We’ll provide you with an all-in-one package to bring you the best technology for less. You can enjoy unlimited free e-files, additional users, and returns in all 50 states and D.C. Get a free demo now!