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!

In general, purchasing a tax software refers to platforms that assist businesses and individuals with tax compliance processes. The main objective of these programs is to streamline tasks involved in filing everything tax-related. The problem, however, is that numerous tax software programs cover different specifics of taxation. Some cover income tax, corporate tax, service tax, and many others. Hence, it can be a little tricky to choose which is the right fit for your agency. Fortunately, with the proper considerations, it’s not at all that difficult to decide which one you should purchase. And to make it a lot easier for you to make a decision, here are helpful pieces of advice that can aid you in determining which purchasing tax software is worth the investment.   1. List Down Areas You Need Help With Needless to say, every tax business has different needs, which is why there are many kinds of professional purchasing tax software programs available in the market. With that said, you must focus on finding one that offers a significant advantage to your enterprise. List down features and functions that you think you require. It would also be constructive to concentrate on areas that you need a little help with, as automation can definitely boost your efficiency. Additionally, it would be wise to narrow down your list by eliminating software attributes you can forego. In this way, you’ll only have to look into ones that you really need.   2. Be Meticulous in Comparing Prices Suppose you already have a list of features that you’re looking for. In that case, it’s time to look for software programs that offer what you need. However, don’t just settle on the first thing you find online. Before purchasing a program, it’s vital to look for other available options to compare rates and costs. Sometimes, there are expensive services that come with additional features that you may not need. Although it might be a good idea to invest in it given that it offers more functions, it would only be a waste of money to purchase it if you have no use for some of its features. Under such circumstances, it’s better to settle with more affordable software that has all the things you need instead of splurging on the one you’re not even sure if you’ll ever use.   3. Take the Time to Read Reviews In a way, purchasing tax software can be considered a valuable investment. Thus, it’s only right that you take the time to learn more about it before you buy it. That being so, it would be pretty helpful to read reviews from previous and current users to understand what type of issues they encountered. Just make sure to check on reviews from reputable resources to ensure that the feedback you’re getting is genuinely reliable. It would also be wise to avail of free trials and demonstrations to give the software a try.   Conclusion With several tax software programs available, it can be pretty difficult to make a decision. But as long as you keep the tips above in mind, you’ll find that the process of researching and purchasing one is less cumbersome than it seems. Looking for the best professional tax software? Keystone Tax Solutions offers premium software that has assisted tax professionals in the industry for more than 15 years. Get a free demo of our program today!

Working in the realm of taxes is a tiring yet fulfilling job, and one such job that deserves recognition is being in tax preparation office. As the name suggests, a tax preparer’s job deals with preparing tax returns, either for another person or a company. Tax preparation is a good starting point for anyone who plans on working with taxes because there’s also the ability to manage a small business. If you want to be a tax professional, the most you’ll need is a laptop with tax preparation software, a mobile phone, and good training. Simply put, you can succeed in the trade if you have any of these. To make things easier, you can also set up an office to serve as your workplace and a meeting place where you can meet with your clients. Additionally, there’s also the need for equipment, such as printers and scanners, because working in taxes means you’ll be dealing with a lot of paperwork. If you intend to establish a tax preparation office, you can use methods that can help you lower costs in your operations. Read on below to learn more.   Your Tax Preparation Office Equipment We stated earlier that you don’t need much apart from a laptop, but let us elaborate on that. If you’re running a tax preparation business office, you won’t need a laptop with high specs. However, the specs must be considered depending on the tax prep software you intend to use (more on that later). Aside from that, there’s also the office management software that you’ll need to use when handling tax documents and client information. Once all those points are covered, you can start finding the best type of computer that suits your needs. Alternatively, you can also go for a pre-owned computer if you’re only starting. Once your business is well-established, then you can upgrade the machines in your office.   The Tax Preparation Software That You’ll Use A tax preparation professional makes use of incredible software tools when it comes to processing returns. In the simplest of terms, tax preparation software can complete complex tasks more manageable. While using tax preparation software is incredibly beneficial, it comes with a literal cost. Professional tax preparation office often requires a paid subscription to use, which is why you have to take into account the software option that matches your current budget and needs. Many tax preparation software subscriptions are readily available for tax preparers, but they all do the same thing. What sets them apart are factors such as pricing, bank product integration, customer support, and user-friendliness.   Printers and Scanners For any office workspace, the printer is an essential piece of equipment—and that applies to tax offices as well. It’s possible to run a paperless tax office, but there will always come a time where you’ll need to print forms, contracts, invoices, memos, mail-outs, and statements. The printers that you should get are heavy-duty ones. Many tax documents, such as a tax return, can have at least 12 pages. Some tax returns could even go up to 100 pages, so expect that you’ll be needing a printer. There’s also the matter of scanners and photocopy machines so that you can make duplicates of a file immediately if the need arises. Think of your printing needs before getting one for your office. Laser printers work best if you’re printing a lot of pages because they’re highly efficient. The faster your printing jobs, the more work could be done.   Your Tax Office If you’re establishing a tax preparation business, perhaps the best way to cut down on operating costs is to avoid renting office space. You can easily do this by working remotely from home and keeping in touch with your workers via Zoom or Skype. Once your business is established enough, you can choose to rent. However, you should also consider the location of your office so that you can attract walk-in clients. If you’re pushing through with a physical office location, you have to put office furnishings there. While it can be costly, there’s always the option of buying cheaper furnishings and upgrading later on.   Marketing Your Office A tax preparation business is still a business, so you’ll have to use marketing tactics to attract more clients. For small businesses, this poses a challenge because most of them lack a considerable marketing budget. The easiest way is to create a social media page and post content related to your business. These include the essentials such as your business’ name, what you do, and other things that can boost online engagement. You can also directly approach other more established businesses and offer them a business card. This way, they’ll go to you if they do need your services. Keep in mind, though, that there’s no guarantee that this will always work. Alternatively, you can also ask your clients to refer you to other people. After all, there’s no better way of advertising than word of mouth.   Conclusion A tax preparation business is a promising startup, but you should also make sure to invest within your means. Once your business is established enough, then you can start getting upgrades. A tax preparation software will keep your tax office running, which is why it’s something that you should not overlook. If you’re looking for excellent software for tax preparers, Keystone Tax Solutions has got you covered! We also offer other financial services and proper training for those interested in working in the realm of taxes. Contact us today to learn more!

Good business management must include efficient management of the company’s tax liabilities, maximizing deductions, and limiting obligations. Small businesses write-offs owners can profit from taking advantage of permissible tax deductions in a variety of ways. Your taxable profit is reduced when you know how to optimize your deductible company expenses. No matter which tax bracket you fall under, follow the tax laws. You may be able to derive a personal gain from a business expense—a fantastic automobile to drive, a business trip/vacation, and a retirement savings plan. Small businesses write-offs that want to collect all of their tax credits and deductions need to keep meticulous records. After all, business owners can reject even legal business expenses if records do not adequately support the expenditures. Your clients will most likely come to you for advice on how to reduce their tax payments or enhance their refund. However, you may require paperwork from them to collect these deductions. This post discusses the most common types of tax-deductible company expenses your clients should be aware of. What to Tell Clients about a Small Businesses Write-Offs An expense that qualifies as a tax deduction is referred to as a write-off. To calculate your client’s total taxable income, subtract them from their total small business write-offs revenue. Small enterprises write-offs are generally connected with them. A write-off must be essential to running a business and typical to the business’s industry to qualify as a deduction. A write-off isn’t required, but it should be considered a routine expense that aids in the firm’s operation. The majority of business expenses are fully or partially deductible. As a result, small business owners attempt to deduct as many costs as possible to reduce their tax amount.   Types of Business Expenses Clients May Deduct for Their Small Businesses write-offs Some of the expenses that small businesses write-offs frequently write off include: business use of cars and home; advertising; contractors; depreciation; employee benefits for education and training; interest; insurance; legal and professional fees; miscellaneous; meals and entertainment; rent and lease; retirement plans; office supplies and postage; provisions; and travel   How Business Deductions Work Business tax deductions work by reducing your taxable income and, as a result, the amount of tax you owe the government on your tax return. It’s a good idea to consult an expert, such as a CPA, to learn how to claim the maximum deductions feasible. An accountant’s role is to understand what tax deductions are available and how they apply to your small business.   Is It Possible to Combine the Standard Deduction and Small Businesses Write-offs Expenses? No, you cannot deduct business expenditures after taking the standard deduction. If you itemize your deductions, which a business owner must do to claim business costs, you won’t be able to claim the standard deduction. Furthermore, not everyone is eligible for a standard deduction, and some persons are only eligible for a portion of one. The standard deduction is the Internal Revenue Service policy that reduces a person’s total taxable income. The amount of the deduction is determined by your filing status. Anyone over the age of 65 or who is blind is eligible for an additional standard deduction.   Final Thoughts It’s not as easy to write off startup costs as it is to deduct business expenses. This is especially true once a company has started. But with this guide, we hope you know which small business expenses are deductible and how taking tax works. Even if you think you know enough about the procedure to go through it yourself, it’s always a good idea to use software for tax preparers. The professional tax preparation software package that we offer at Keystone Tax Solutions can assist you in overcoming any barriers so that you can file your taxes correctly. Call 1-800-504-5170 to get started!

Is your accounting firm still on the fence about getting cloud computing technology? Then it’s time that you seriously consider it because it can definitely deliver benefits you wouldn’t get elsewhere. Cloud computing is simply the process of providing hosted services through the internet. Since its inception, cloud computing has proven itself an effective tool that accountants can use to boost the performance of their firms. It’s not just accounting firms that benefit from the cloud, too. In this post, the experts behind Keystone Tax Solution, the best professional tax software, will tell you why your accounting firm should adopt the cloud computing technology and why you should have started yesterday:   The Benefits of Cloud Computing Here are a few of the many benefits that accountants can enjoy when they switch to the cloud:   You Can Save Time One of the top benefits of using the cloud is that it frees up your time and allows you to work on other tasks. On top of that, it will enable collaborative work, so if your team needs to work on the same document or project simultaneously, you won’t have to wait until one is finished before you all get your turn.   You Get to Save Money The best tax preparation software and cloud-based applications can be used for various functions, so you won’t have to purchase separate tools to do different tasks. That means you can do client management, document management, and many other functions in one software. At the same time, you get to enjoy expansive storage – all these minus the additional cost of using multiple tools.   You Can Keep Your Data Secure When you use the cloud, your data will be stored on multiple remote servers so you can be sure that it’s more secure than if you were just keeping it in traditional data storage. Additionally, when you choose a reputable cloud provider, you can ensure that your data will never be compromised because they take their server protection seriously. They use high-end cybersecurity because that’s what their clients expect them to deliver.   You Get to Enjoy Flexibility This time-efficient solution is also great for your clients because you can allow them to access their data in the cloud wherever they are and whenever they want. That means neither you nor the client needs to be in the office for you to work on a case or for the client to check their status or progress. For instance, IRS forms can be quickly uploaded and sent back and forth as needed.   You’re Getting Customizable Solutions Every accounting firm has its own set of needs, and in the ever-changing world of accounting, with the updates on tax rules and compliances, it pays to get customized solutions that can adapt to your shifting needs.   You Can Reduce Your Paper Usage Last but not least, with the cloud, you can finally say goodbye to all those piles of papers in the office: invoices, receipts, forms, and others that are always at risk of getting lost, damaged, or even getting stolen. This is also a move that will help your company be more green.   Conclusion These are just some of the benefits of using the cloud. You will soon see that you’ll do your best tax preparation with it. From the flexibility, security, ease of use, and so much more, you know that there’s no reason for you to still resist using this technology. Of course, you need to make sure that you are using trustworthy software for your firm, too. Keystone Tax Solution is the best professional tax software that can make a huge difference in how you do things at your firm.

The Best Option for Tax Software Accountants Tax season is one of the most stressful times of the year for the workforce. Doing your taxes the right way isn’t only tedious, but a single mistake could cost you hundreds, if not thousands, of dollars. Luckily, there is a way around this with tax software and accountants. There is a slew of tax solutions that you can utilize to effectively and efficiently do your taxes. Seeing as we can’t possibly discuss them all, we thought it would be useful to talk about the two most popular options: tax software vs accountants. Now, we understand if you don’t know enough about these two options to accurately gauge them. To help you out with this, we thought it would be useful to put together a brief breakdown of these tax solutions. Hopefully, this proves to be useful when it comes to helping you find the best solution for your tax issues. Tax Software Benefits of Tax Software One of the most obvious benefits that tax software for tax preparers brings is that they are extremely affordable. This is especially true when you compare the costs with hiring a professional accountant. Tax software is also designed to be incredibly easy to use as they are made with non-tax professionals in mind. Doing your taxes will be a breeze through the use of this software, as all it will take is inputting the information on the software and letting it take care of everything. Drawbacks of Tax Software Despite being convenient, some tax software isn’t suitable for handling difficult monetary situations. This is particularly relevant for people who manage businesses as the sheer number of transactions that take place may make it difficult to use the software. Making use of software also means that you won’t be able to personally consult with a professional if you have any specific questions or concerns. Accountants Benefits of Having an Accountant When comparing tax software versus an accountant, the pros of hiring a tax professional are clear. Accountants offer personalized advice and expertise that software simply cannot match, making them invaluable for complex tax situations or when strategic financial planning is needed. With their in-depth knowledge, accountants can navigate intricate tax laws to ensure you benefit from all available deductions and credits. This tailored approach often results in significant financial advantages, outweighing the higher costs associated with their services.  Drawbacks of Having an Accountant Given the quality of service accountants provide, they tend to be more expensive than tax software. You will also always run the risk of hiring and incompetent accountant that could potentially hurt your finances. If you do opt to hire an accountant, be sure to be thorough to avoid any issues down the line. Which Tax Solution Is Best for You? The main thing that you should be taking away from this article is that, between tax software versus accountants, there is no sole best solution to doing taxes. The best solution is the one that is better suited to address your tax issues. Be sure to assess the gravity of your tax concerns so that you can pick the right solution for you. If you need constant support, then an accountant may be the way to go despite being significantly more expensive. If you want something cost-effective and convenient, then it might be worth investing in the tax software for preparers.  Keystone Tax Solutions Tax Software The best tax software for tax preparers is right here at Keystone Tax Solutions! We believe in setting our clients up for success, and that is why we provide you with everything you need to succeed with the software. Browse through our options to find something that fits your needs. We even offer customer support to ensure you’re making the most out of your software and using it correctly. So if you’re looking for the best tax software for tax preparers to streamline and optimize your processes, our products at Keystone Tax Solutions are just what you need. Get in touch with us to begin your free demo today!

The pandemic has been hard on everybody, including small businesses. To help small business owners during the economic crisis, they have been allowed to take a loan through the Payment Protection Program (PPP).   What is the Payment Protection Program? This pandemic-related economic relief opportunity has been made available to keep small businesses paying their employees. If specific requirements are met, PPP loans can be forgiven. In other words, a Payment Protection Program loan is similar to a grant, except with strings attached. Those who are eligible for the Small Business Administration’s Payment Protection Program loan include: Sole proprietors; Independent contractors; Small businesses that meet the SBA’s size standards; and Non-profit organizations. While Payment Protection Program loans have undoubtedly provided financial relief since its inception, their assistance didn’t seem to be enough. With 400,000 small businesses closed down because of the pandemic, it appears that something must be done to help those that continue to struggle. As such, the Biden administration seeks to encourage the smallest small businesses to apply through the recent changes implemented in the PPP.   Newest Changes to the PPP  In February of this year, the new administration introduced several major changes to the PPP to make it more beneficial to the self-employed and the smallest employers. Some of the most significant changes to the PPP include:   1. Prioritization on Businesses With Fewer Than 20 Employees  From February 24, 2021, to March 9, 2021, the SBA limited approvals for relief through the Payment Protection Program to organizations that have 20 employees or fewer. Through the temporary limiting of the approval process, the administration hopes that more money will reach ventures that have difficulty accessing capital.   2. Revision of the Loan Calculation Formula  The formula for the Payment Protectin Program used to be based on net-profits to calculate loan amounts, which excludes sole proprietors, independent contractors, and self-employed individuals. To help borrowers without employees, the administration called to revise the loan calculation formula to focus on gross profits instead. With this change, sole proprietors, independent contractors, and self-employed individuals without net profits on their tax returns have a chance to receive relief from the Payment Protection Program. Moreover, teh SBA also reserved a billion dollars for these kinds of businesses in low-to-moderate income areas.   3. Removal of Restrictions  Business owners with an arrest or conviction for financial assistance fraud within the previous five years and other felonies within the last year haven’t been eligible to receive Payment Protection Program relief. However, the new changes to the program eliminated the second restriction. As a result, individuals with non-fraud felony convictions can now apply for a PPP loan.   4. Exclusions on Delinquency  Businesses that are at least 20% owned by a delinquent or an individual who has defaulted on the federal debt, including student loans, in the last seven years. The new changes in the PPP excluded student loans in federal debts, allowing individuals with student loan delinquency to seek PPP relief.   Conclusion  Indeed, the Paycheck protection program has helped countless business owners during the pandemic, but it is not free of issues such as waste, fraud, and abuse. The changes from the Biden administration seek to address the concerns relating to the PPP and provide relief to more business owners. Make tax preparation easy with the best professional tax software from Keystone Tax Solutions! Our ALL IN ONE Software Package is designed for small and large tax offices with multiple offices and many employees. With our program, you can avoid overpaying in hidden fees and overpriced tax software. Get a free demo today!

Through national tax laws, you are eligible to receive additional Preparing Tax Credits for them. Certain Preparing Tax Credits can be credited to your name if you become eligible for the Child Tax Credit. Please remember that before Preparing Tax Credits returns, you’ll have to register your child within 2021 to receive these tax benefits. Here are more details for you to check out:   Available Preparing Tax Credits for Babies in 2021 The CTC is one of the additional Preparing Tax Credits outlined in this year’s ARPA or American Rescue Plan Act. It was updated to include eligible taxpayers that are earning within or below certain income limits set by the government. Whether filing taxes manually or using software for tax returns, you must remember to include these updates to continue receiving them moving forward. Eligible families who receive below a certain income are entitled to a $3,600 tax credit for each child aged 0 to 5 years old and a $3,000 tax credit for children from 6 to 17 years old. This new CTC update includes babies born and adopted within the year. You are also eligible to receive $250 a month for your children between 6 and 17 years old. From July onwards, you also get an additional $300 a month for your kids between 0 to 5 years old.   Additional Preparing Tax Credits On top of these changes to the CTC are other Preparing Tax Credits for your new child and your other kids. These credits apply to different parent circumstances to help them financially. Make sure to take note of these to include them in your tax preparation steps. After filing, possible delays may take place due to processing changes from the Path Act. A recent update to the Child and Dependent Care Credit entitles your family to a tax credit amounting to 50 percent of the child care expenses spent. The limit allows up to $8,000 per child and a ceiling total of $16,000. New parents also qualify for an Earned Income Tax Credit, but they must meet income limits as well. Those with zero dependents must meet the $15,980 gross income on single filers, while joint filers must meet $21,920. The Annual Gross Income limit is set to $42,158 for single filers and $48,108 for joint filers. A Dependent Care Flex Spending Account covers another additional credit for child care. You can file this through your employer, and you will receive it directly through your paycheck before taxes to help add savings.   Head of Household Status Another extra tax credit to add to your tax prep is by Filing as Head of Household status. Unmarried parents can file for this tax credit when they file as unmarried for 2021. They need to state that they cover more than 50 percent of house expenses and must live with their registered dependent more than 50 percent of the time. For those who adopted a baby this year, you stand to receive an Adoption Credit & Exclusion Tax Credit. You can receive up to $14,300 in Adoption Tax Credit per child. Any further adoption expenses can also be excluded from your taxes.   Final Notes Parents are entitled to receive tax credits as ready assistance from the government. The government must update parents for these changes so they can receive them soon and use them for increased expenses during these trying times. To make sure you’re on top of things financially, use thorough tax systems, such as pro-tax software or services that use these systems for error-free and organized tax filing preparations. Keystone Tax Solutions provides professional tax preparation software to make sure you follow all updates and correct tax information. You can avoid errors that can incur expensive penalties. Call us for professional tax software today.

Building your own tax accounting firm isn’t as impossible as it was years before. Nowadays, you can start almost any Tax Business Success in your backyard. Thanks to internet connectivity, you can get clients, manage your workload, and file your paperwork with ease. However, just because you’re running a home-based operation doesn’t mean you’ll naturally skyrocket your way toward Tax Business’s Success.   Tax Business Success Running a Home-Based Operation Tax Business Success preparation is a need for everyone, from breadwinners to small and medium-sized businesses. This is why there will always be a market for your services, as long as you have enough tax education background covered. However, being an employee is a whole different matter than running your own operation. For this reason, you need to think like an entrepreneur to ensure that your company will steadily grow. In this article, we’ll share three tips to help scale your tax business.   1. Build Your Network It’s smart to look for clients among friends and relatives, but this kind of referral can only get you so far. You should start building your personal network by expanding your reach. Doing so will help you gain new clients outside of your existing network of mutuals. Utilizing social media platforms is a great way to build your brand. However, you need to position your business properly in the right networks. If you want to cater your Tax Business Success for a B2B service, it’s better to establish your online visibility where other corporate individuals are. For this reason, building your network on LinkedIn, where firms and businesses are around, will be a great fit for you. On the other hand, if you want your firm to be a B2C service provider, you can conveniently utilize Twitter, Instagram, and Facebook as accessible platforms. Since almost anyone has a social media profile on these websites, you’ll have a broad reach on a niche market of your choosing. Additionally, these platforms let you target specific audiences based on their algorithmic categories.   2. Broadcast Your Expertise Simply marketing your services online isn’t enough to gain an audience. This is why you need to showcase your ability as a tax preparer. You can do this by attending conferences, launching webinars, or even publishing long-form case studies that can be helpful to your prospective clients. Displaying your knowledge of tax preparation makes you appear like a more reliable service to subscribe to. For this reason, people who see your posts can put more trust in you to handle their delicate tax filing needs.   3. Engage with Your Audience Once you have your social media profiles in place, you should use them as an effective means to engage with your audience. Remember that you can program simple chatbots on these platforms to smoothen your sales funnels. Besides optimizing your sales, you can use these social media profiles to streamline your customer helpdesk services.   Conclusion Choosing to build your own firm is an excellent financial decision with almost limitless scalability. Although it’s a great feeling to work for yourself, that doesn’t mean you should overburden yourself with working full-time. The best tax preparers know how to budget their time while remaining effective with their work process. Thankfully, you can use professional tax preparation software to lessen your workload and streamline your business model. Every business owner must have the right tools to provide quality output. At Keystone Tax Solutions, we provide modern tax software for preparers to streamline your business processes. Try a free demo of our software today!

Tax Business Plan season can be stressful for anyone as it afflicts individuals and businesses alike, so running a venture as a tax professional can serve as a saving grace for people from all walks of life. Despite the persisting need for tax services, spearheading a tax practice still requires a clearly defined vision, so you know where to direct your business. Without a roadmap to use as a guide, you’ll be driving your venture blindly without any outlines to refer to for your operations throughout your growth. That’s why writing a detailed business plan is important since it allows you to make financial projections and market analyses. However, the content doesn’t have to be as comprehensive as you would expect from companies planning to get a business loan or investors.   Writing a Tax Business Plan For Your Practice: What to Include? Since you only need to include details regarding your tax practice’s goals, strategies, and relevant market researches, the information below should be more than enough to enhance your business plan:   1. Products and Services As a tax professional, it’s important to lay out what you can offer to your clients. After all, diversifying your services can widen your market reach since many businesses prefer to outsource tax preparers, including bookkeeping services, as part of a package deal. With that in mind, some of the additional services you can include are the following: Tax preparation for individuals, sole proprietors, freelancers, or businesses; Bookkeeping and basic accounting services for small businesses; You also have the option of managing bank-related products for your clients, so they have more options to explore when receiving their refunds.   2. Market Analysis Knowing that most working individuals and organizations need tax preparation services won’t do you any favors in the long run, especially since you still need to collect deeper insights into your clients’ unique needs and pain points.That’s why your tax business plan—whether it’s for your eyes only or not—requires an extensive market analysis so you can identify your market and understand their problems, needs, and what services they typically gravitate towards when seeking accounting services. Other than analyzing what constantly afflicts your target audience, it also helps to stay on top of any governmental regulations and territorial restrictions you may run into in the future.   3. Execution Plan Once you understand your services and know the ins and outs of your target market, you can plan for your execution strategy by honing the following: Marketing tactics Customer acquisition tactics Necessary equipment Timeline Location   4. Financial Plan Penning down your financial goals can be tricky, especially since you first have to consider the cost of running your business. Some key pointers that can help narrow your numbers include the following: Cost of starting a tax business and its maintenance; Fees of your tax preparation services; Client base to meet your profitability expectations; Yearly projected profits;   The Bottom Line: The Importance of Having a Business Plan Running a tax business can be overwhelming since you’ll be juggling multiple responsibilities, so taking the lead on a whim will only make the journey ahead even more difficult. By preparing a basic yet well-crafted tax business plan, you have a more solid guide that can help drive your venture forward in the right direction.   How Can We Help? 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.

As a Professional tax preparer, one of the best ways to acquire more job orders is through traditional ads and the typical word of mouth method. That has always been the case for Social Media Tax experts, the prevalent norm throughout the decades. However, the advent of technology and social media may have rattled that process these past few years, with many competitors drowning out your ads through their online presence. While it may seem intimidating to fight fire with fire by making a Social Media Tax account, it is a lot easier than you think. Adjusting from a traditional way of getting clients towards an innovative way of acquiring them may be stressful initially, but you’ll soon realize it offers better opportunities for your venture in the digital age. To help you get started, we’ve gathered all the benefits of using Social Media Tax for your firm:   Brand Establishment Through Social Media Tax, you will be able to establish a brand of your own. It isn’t easy to introduce yourself and what you have to offer to a new audience, especially since there is no familiarity involved at first. However, thanks to social media, you’ll be empowered to reach your target audience about you and your taxing services. You will be able to show them your credentials through an image or a video, where repetition is highly plausible. Social media Tax posts will remain online unless you decide to delete them yourself. With the help of this repetition, you will be able to establish familiarity and brand recognition.   Consistent Interactions There used to be a time when tax professionals may need to fax or communicate through the phone just to update clients. This tends to be inconvenient, as the client may not be available to pick up the call or the faxed document, missing out on updates about their numbers. Nowadays, social media platforms are integrated with a communication channel, a chat feature that will enable you to send updates to your clients anytime, anywhere. They will no longer miss out on tax reminders, empowering them to remain aware of their current tax conditions.   Wider Reach Social media platforms enable entrepreneurs and self-employed people to reach more of their target audiences online. The old method usually involved paying a newspaper for printing out ads about their business and offered services. Nowadays, tax professionals can accomplish this for free. Of course, social media platforms also offer a “boost” advertisement function that they may pay for to make their ads appear more often online. Still, for the most part, the free publicity is already enough to garner more clients through post shares and user tags.   Conclusion Social Media is an efficient tool for tax professionals who would like to turn to digital marketing. Not only is it effective in acquiring new clients, but it is also more convenient and practical in the long run. The broader reach that they may have, the consistent updates that they may communicate, and the brand recognition that they may establish with their clients are just some of the best things that they may experience out of it. It may just be good enough to land them more satisfied clients in the future. If you would like to take your tax services to the next level, you’ll need a professional tax preparation software platform to make things more convenient and efficient for you. Keystone Tax Solutions provides the right software for all your tax preparation needs. Get a free demo today!