Even if you are a Simplified Tax Solution professional, computing your client’s tax can sometimes be daunting. Simplified Tax Solution accuracy computation for your clients is crucial because your clients may be charged with penalties if you fail to correct the mistake. More so, your reputation may be at risk, and your clients may not trust you again. With that said, you need to learn an easier way to help yourself with the computation. In this article, we will focus on the simplified method for determining the home office deduction of your client. So, if you are a tax preparer and have a self-employed client that uses part of their home for business purposes, this article is for you. Let’s get started!   What Is The Simplified Tax Solution? The simplified method is an easier way to determine the amount you can deduct for qualified business use of a home. Most tax preparers and their clients prefer to use the simplified method because the standard procedure has some calculation, allocation, and substantiation requirements, which are more complicated.   What Information Do You Need to Calculate Your Client’s Home Office Deduction? When computing for your client’s home office deduction, your client’s participation is crucial because they are the ones who will provide you with the essential information to complete the formula. Here are the things you need to ask from them so that you can calculate their home office deduction accurately: The square footage of their home office space used to conduct the business. Gross income earned from the usage of their home for business purposes. Additional business expenses that are unrelated to the home office, such as marketing and advertising supplies and equipment. The size of the new area if the client changed their business space. The number of days they conducted business from their home office each month.   How Can You Compute Home Office Deduction Using The Simplified Tax Solution? After you have all the information needed, you can now apply the simplified method to determine your client’s home office deduction. You can start by multiplying your client’s total home office space by the rate per square foot for the current tax year. It’s that simple, and it doesn’t require you to have a detailed record of the client’s expenses.   Who Is Eligible to Claim the Home Office Deduction? If your client is a home-based business owner, you need to consider some factors before computing their deductions because they need to meet specific requirements to qualify for the write-off. The criteria to be eligible for the write-off are as follows: Space must be their principal place of business Space must be regularly used Space must only be used for business purposes Your client must have earned enough gross income from their business. If your client’s business deductions (not including home office) are equal to or more than their gross income from the business, then they cannot claim the home office deduction.   Conclusion Learning the simplified method can help you minimize your time computing your client’s home office deductions every taxable year. It can make your life easier as a tax preparer because it requires fewer record-keeping documents to come up with an answer. Hopefully, this guide has made your computation more manageable so that you can compute your client’s tax more accurately and promptly. Keystone Tax Solutions can make your life even easier! We offer the best software for tax preparers that is easy to use, has direct input or interview input, is accessible from any device, and can access your client’s information anytime, anywhere. Get a free demo today!

Are you about to open a First Time Tax prep office? Even if you’ve been doing tax preparations for years, opening up an office is on an entirely new level, and if you’re not careful, it’s easy to feel overwhelmed through the process. Don’t worry; here are tips to help you open up a tax prep office successfully:   Register It First things first, you need to register your business. This won’t be a problem if you’re already an established First Time Tax preparer. On the other hand, if you’re completely new to this, you need to structure your business and acquire the necessary credentials with the IRS. You need to get an Electronic Filing Identification Number (EFIN), apply for a Preparer Tax Identification Number (PTIN), and register your business with the state.   Find the Right Office Space There are many office spaces out there today, but it’s important you find the right one. You need to consider several factors: Size: This will depend on the number of employees you have. Make sure the size is just right because getting something too big will have you paying for more, which can be burdensome when you’re only starting out. Location: Consider how close the office is to your home, as well as the location of the type of clients you will serve. Cost: Paying for an office is a huge business expense, which is why you need to choose wisely. Make sure you set up a budget before you start looking to help you stay within your means.   Consider a Coworking Office Space If a dedicated office space isn’t something you can afford right now, consider a coworking space. There are now many shared spaces that provide unique office solutions today. All you need to do is pay for membership fees that are far more affordable than a dedicated office space. Moreover, these coworking spaces also have conference rooms, so you don’t need to worry if you have team or client meetings.   Invest in the Right Technology and Software As a Firts Time Tax preparer with an office, you need the right technology and software that will help you with your processes. Consider how you prefer to work and the type of tax forms you need for your clients. Besides the software, you should also think about other technologies that will be helpful for your business, such as anti-virus and network security.   Market Your Business The last step to set up your office completely is to market it. By marketing it, you will get new clients to help you sustain the business and the office space. Have a website, and make sure you’re on social media. You can ask your existing clients to spread the word about your business as well.   Conclusion It can be intimidating to have an office space for the first time. However, if your business already requires you to have one, then don’t be afraid to make that move. With so much on your plate as a tax preparer, having a space to carry out your work and accommodate your clients is crucial. Use these tips to help you set up an office for your growing business. Having a proper office for your practice is as essential as having the right tools to do the job well. Keystone Tax Solutions offers the best professional tax software that will help your business become more efficient. Contact us today!

As Tax Preparers Guide, the first thing most clients will ask you is whether or not their medical expenses are tax-deductible. You likely know that there’s no easy answer to that since it depends. First, you need to find out what types of medical expenses they have, their adjusted gross income (AGI), if they’re going to itemize their deductions or go for the standard. Once you have all the necessary information, you’ll be able to give them a much more detailed and reliable answer. Here is everything you need to know about tax-deductible medical bills so that you can help your clients better! Which Kinds of Medical Expenses are Tax Preparer Guide Deductible? The IRS allows a wide range of medical expenses to be deducted, therapy, treatments, medication, and more. They might even allow alternative therapies like acupuncture. There are several main categories of deductible medical expenses, which are the following: health insurance premiums (excluding any portion covered by employers) Payments to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and non-traditional medical practitioners Prescription drugs Most dental expenses Expenses such as eyeglasses, hearing aids, crutches, wheelchairs, and more Nursing home care Home improvements that increase accessibility for differently-abled people Transportation costs incurred while traveling to receive medical care Lodging costs up to $50 per night when traveling to receive medical care And expenses that are not eligible to be deducted are either elective, unnecessary, or non-medical, like the following: Funeral or burial expenses Non-prescription medicines Toiletries Cosmetics Wellness trips and programs Most cosmetic surgery Nicotine gum or patches without a prescription If your client’s medical expenses fall under a more gray area, you can use the IRS’s Can I Deduct My Medical and Dental Expenses? It’s a tool that can help you swiftly determine whether their medical expenses qualify for a deduction or not. For more information about qualified medical expenses, read through IRS Publication 502. How Do You Calculate Deductions for Medical Expenses? After you have determined your client’s qualifications for tax-deductible medical expenses, it’s time that you start calculating how much will be deducted. You can begin by determining your client’s AGI. From there, only medical bills exceeding 7.5 percent over their AGI will be deductible. Simply put, you need to multiply your AGI by 7.5% and subtract the result from the qualifying medical expenses, and the amount left will be deducted. For example, suppose your client’s AGI is $80,000, 7.5% of that is $5,600. They can only deduct medical expenses that go over this amount. If their qualified medical expenses amount to $9,000, $3,400 of it would be deducted from their taxes. What is the Standard Deduction? Keep in mind that your clients can only deduct medical expenses if they are itemizing deductions. If their deductible medical expenses combined with their other itemized deductions are less than the standard deduction, opting for the standard deduction makes the most sense. It will be better to itemize medical deductions only when the client’s total medical expenses exceed the standard deduction. If it happens to be less and if their deductible medical expenditures already combined with itemized deductions are less than the standard deduction, going for the standard deduction will be for the best. What about Self-Employed Clients? Self-employed clients with health insurance premiums can deduct the cost as a business expense instead of an itemized deduction. This adjusts their income and applies regardless of whether they itemize deductions or take the standard deduction. They’ll likely have to meet specific criteria first. Summary Tax deductions can be quite a bother. If you’re a tax preparer with multiple clients, you’ll need to be very organized and quick about gathering their documents and information. Once you get familiar with the systems, which may depend on the state you’re in, you should be able to help your clients with more ease. As tax preparers, you need to be very detail-oriented and organized. It can be a lot of work, especially if you’re doing it alone. Here at Keystone Tax Solutions, we’re committed to helping you make your job easier. We offer the best professional tax software to help you stay on track and keep your work moving smoothly.

Tax Software Hiring a CPA Business Tax 101 Preparing taxes can be a daunting and time-consuming process. It requires a lot of patience and attention to detail that not all business owners may possess, which is why they need help preparing all the forms, documents, and receipts. One option is to use Tax Software Hiring for tax preparers, which can help automate and calculate all the data if used correctly. The second option is hiring a professional tax preparer or an accountant to do all the computing and filing. The question is, which of the two options is more optimal for a small business? This guide should help business owners get a better idea of which path will suit their needs.   Benefits of Using Tax Pro Software Professional tax preparation software is an excellent way of helping business owners and even accountants manage all their tax forms and financial data for easier filing of taxes. However, it does require some skill and a good understanding of how the program works to be really helpful. Here are some of the advantages of using tax software for a typical small business. Price – There is no way around the fact that you will pay less for a software package than you will to hire a CPA or another qualified tax professional. There are even free tax preparation software that has basic features that could be enough for small filers. The upfront savings are what make business owners prefer buying software than hiring someone else to do it for them. Speed – Completing taxes using tax software is easy enough as long as all the necessary documentation is at hand. It’s all a matter of encoding the data and going through the correct formulas for the tool to process everything. Simplicity – A good software for tax preparers should be able to walk you through the process very quickly and easily. There are videos and demos available that business owners can use to help them understand how the software works.   Advantages of Hiring a Professional Accountant Of course, there are also benefits to hiring an accountant. They may cost more money upfront, but if you’re able to hire a good and competent accountant, you may even save some money in the long run. Here are some of the advantages of hiring a professional accountant or tax preparer: Better Software – Accountants and accounting firms invest in some of the best professional tax software in the market with far more sophisticated features. These tools are capable of better automating and organizing a client’s financial data and tax documents. Human Touch – Nothing beats having that human touch where you can interact with an accountant and seek advice from them. They are able to provide valuable tax savings suggestions that no software program is able to mimic. Expertise – As trusted professionals, CPAs and tax preparers offer their expertise as part of the service they provide. They can answer any questions and have great familiarity with federal and state tax systems.   Conclusion At the end of the day, the decision to use software or hire a professional all lies in the hands of the business owner. It’s never easy to process your own taxes, so it always pays to seek some help in whatever form possible. Keystone Tax Solutions is here to help you become more efficient in processing taxes. We are the leader in the professional tax preparation software industry with more than 15 years of experience in developing tools for accountants and tax professionals. So, if you need an efficient and intuitive tool in preparing taxes, get the best professional tax software from Keystone Tax Solutions today!

Business Tax 101: Types of Taxes for Small Business Every Taxes Small Business owner knows exactly what it’s like to prepare taxes. More accurately, taxes are a fact of a business owner’s life. As Taxes Small Business preparers and accountants, you all deal with these taxes as you were hired to process them. You simply can’t avoid tax preparation, but you can make sure it’s done right and always on time. Small Business owners are always concerned about minimizing costs and avoiding penalties to make their business profitable and functioning properly. But what exactly are the types of taxes that business owners are responsible for? Let’s enumerate and break down each and every one of them.   Income Tax Small Business As a tax preparer and professional, you must report annually, on behalf of your client, the company’s income and expenses. If your client’s business is a regular C corporation, the corporation files its own tax return and is a separate taxpayer for income taxes. It pays a flat 21% tax rate on profits. On the other hand, if the business is registered as a pass-through entity, which could be a sole proprietorship, partnership, LLC, or S corporation, you need to file an annual return. Still, the income flows through to the owners and should be reported separately on their own personal tax returns.   Employment Tax Small Business If your client has a couple of people employed under them, then filing and paying payroll taxes is also under the owner’s responsibility. This is a tax they deduct from employee paychecks and are actually divided into different tax types like: Payroll Taxes Income Tax Withholding FICA Tax FUTA Tax State Unemployment Tax Other Withholding Taxes on the State-Level   Sales Tax Small Business Although there’s no such thing as a federal sales tax, 45 states do have their own sales tax requirements. If your client is selling goods and services, they are then required to remit sales tax to whatever state the business is based in. As the tax preparer, you’re responsible for calculating and reporting your client’s sales tax. If your client is selling to customers out of state, they may even be required to collect sales tax for that particular state where their buyers are. In addition to collecting and turning over the sales tax, you must also file reports about the company’s sales tax activity.   Property Taxes Property Taxes are a tax a company pays on any commercial property, land, or real estate that the business owns. Payment dates for this vary by location, so you should be aware of when the property taxes are due for your client. Any business property tax will be regulated on the local level based on where the business is located.   Excise Tax Depending on the nature of the business and industry, your client might be responsible for paying excise taxes. These are indirect taxes that are not paid directly by the consumer of a product. Excise taxes are often called sin taxes and are included within the product’s price, such as with cigarettes, gasoline, and liquor. As with property and sales taxes, the company is responsible for collecting the taxes and remitting them directly to the IRS.   Conclusion Tax preparation isn’t exactly a walk in the park, especially after seeing all the taxes a business needs to collect and pay for. Most of the time, business owners use software for tax preparers or what accounting firms call professional tax preparation software to help them calculate and consolidate everything. Keystone Tax Solutions offers you one of the best professional tax software solutions in the market today. As a leader in the industry, we offer 15 years of experience to accounting and bookkeeping professionals who could use intuitive tax pro software at an affordable price. Contact us today to book a demo of our software.

There are a bunch of financial layers that you have to deal with when running a tax business and one of the most important aspects of your tax business operations is your Work Refund Transfers. When you get to offer Work Refund Transfers to clients, you won’t get to streamline your business’s finances, but you’ll get a valuable addition to your tax preparation business. Thanks to technology and advancements in payment methods, developers have created tax software to help taxpayers and businesses manage tax preparations. Besides familiarizing yourself with the different financial and tax lingo, you should also partner it up with professional tax preparation software. Streamlining tax preparations is the ultimate dream for taxpayers and businesses. If you can incorporate Work Refund Transfers into your system, your clients will be pleased with the service. You’ll get the most out of your tasks.   What Are Work Refund Transfers? Work Refund transfers are also called bank products and refund settlement solutions. This process is a way your clients can choose to receive their tax refunds. The great thing about this is that your clients can get your services with no upfront cost, allowing you to easily deduct their fee from their refund.   How Do Work Refund Transfers?   1. Prepare Your Return and Confirm Before you can prepare for refund transfers, the first thing you need to prepare for refund transfers is to ensure that your client has completed their tax return. After that, if they have determined that they should get a refund, they should start a refund transfer process. However, you should remind your client that the refund transfer process is optional and may involve some fees. But the truth is, the convenience of refund transfers really outweighs the additional charges. Fortunately, tax pro software will have refund transfers integrated into their systems, making tax preparations and refunds more straightforward.   2. The IRS Will Distribute Refund to the Bank When you have refund transfers connected to your tax system, your clients don’t need to receive their money directly from the IRS. Instead, it will be routed through a refund settlement bank. These banks are designed to deduct necessary fees from federal and state tax refunds, which will then be distributed to the taxpayer.   3. The Bank Will Handle Manage Fees Once the IRS transfers the refunds to the bank, the bank will then deduct preparation fees from the refund and distribute it accordingly through direct deposit. Associated costs, like service bureau fees, transmitter fees, or refund transfer fees, will also be subtracted, eliminating any hassle for your client.   4. Your Client Will Receive their Money After the bank has received payment from the IRS and the tax preparation fee has been processed, they will then distribute the refund to your client, depending on the form they choose. Typically, they can receive a refund in the form of a check, prepaid card, or direct deposit.   How Can Refund Transfers Benefit Your Clients? No Upfront Costs: The great thing about refund transfers is that your client won’t have to pay a tax preparation fee upfront. This is because the bank will handle the fees, making it a seamless, hassle-free process. Payment Options: Your client can choose the method of how their payment will be disbursed, which is great for different clients, both with a bank account or no banking relationship. Receive money Quicker: The great thing about refund transfers is that it allows your clients to receive their money faster than a traditional refund disbursement.   The Bottom Line: Streamline Tax Preparations and Work Refund Transfers with the Right Tools Offering efficient services to clients, such as refund transfers, can greatly improve your tax services. Partnering it up with professional tax preparation software, you’ll get to offer effective tax services that are hassle-free, quick, and easy.   How Can We Help You? If you’re looking to improve your tax preparation process, consider getting professional tax preparation software to help develop your workflow. Keystone Tax Solutions is an affordable tax software designed to help elevate your tax process. Our 100% cloud-based technology allows you to manage your documents, create unlimited federal and state returns, provide exceptional customer support, and more. Learn more about how we can help you today!

Becoming a Tax Preparer Way can be a lucrative career, so if you’re starting to explore this path, you may be wondering what exactly Tax Preparers do. They’re mostly known for filing returns for individuals during Tax Preparer Ways season, so you may want to know what else keeps them busy for the rest of the year. The great news is that Tax Preparer Ways can make a lot of money year-round, depending on what they like to do and where their specialties lie. Most Tax Preparers Ways perform work outside of tax season, while others diversify their income by providing additional services. Here are the many Tax Preparers Ways to earn money throughout the whole year:   1. Payroll Management If you work with small businesses, you’re aware of their various financial needs, such as managing their payroll. Many business owners outsource their payroll management since they are far too focused on building their business, which means they’re more than likely to require payroll help. By adding this to your roster of services, you’ll have no problem making money beyond tax season.   2. Tax Preparer Ways for Businesses One of the easiest ways to earn year-round as a Tax Preparer Ways is to provide tax preparation services to small businesses, which need services throughout the year. The clients you assist during tax season probably have their own small businesses, so be sure to let them know of your new services to reinforce your relationship and open a new avenue of income.   3. Client Representation at the IRS Taxes can be tricky, which is why many individuals hire a Tax Preparer Ways to do it for them. Unfortunately, for some taxpayers, the stress of tax season doesn’t end when they file their tax returns. When the IRS finds errors in their returns or spots willful misstatements, they’ll reach out, complicating matters further. Once this happens, the taxpayer will need representation before the IRS, which you can fulfill. However, to represent clients before the IRS, you must be a certified public accountant (CPA), an enrolled agent (EA), or an attorney. Being an EA is the most logical step for tax professionals since it doesn’t require you to take more college credits, and the required training is relevant to tax preparation.   4. Bookkeeping Services Small businesses are always in need of a bookkeeper, presenting you with a host of money-making opportunities. You don’t need an accounting degree to be a competent bookkeeper, either, as bookkeeping is different enough from accounting and has an easier learning curve. You can also take courses in bookkeeping for small businesses, equipping you with the knowledge and skills you need to offer top-notch services to your clients.   5. Tax Preparer Ways Service Bureau Becoming a tax service bureau beyond tax season allows you to help other tax professionals look for the best professional tax software they can use for their practice. For instance, our tax software comes in various packages catering to tax professionals of all types, like those who have obtained their EFIN and those who haven’t. It comes with many features, such as a document manager, electronic or remote signatures, a customizable mobile app, and more.   Conclusion Even though many people believe that tax preparers are active only during tax season, the reality is that they can be just as busy throughout other months of the year if they choose to be. By offering these services, you’ll become a better tax preparer, widen your client base, and increase your earning potential. Keystone Tax Solutions offers professional tax software specially designed for tax preparers. Our affordable tax software is designed to grow your business through money-saving benefits like easy-to-use software, unlimited federal returns, unlimited state returns, and more. Get a free demo today!  

Preparation Tax Software Avoid Mistakes Preparation Tax software has always been designed to make accountants and bookkeeping professionals’ jobs easier and far more efficient. By utilizing all the built-in features of professional Preparation Tax Software, you can make your business operations run smoothly and without any worries. But if you’re new to tax pro software, there are a couple of things you should know before investing in it. The following are some of the mistakes you should avoid when buying software for tax preparers.   1. Refusing to Adopt Cloud-Based Preparation Tax Software Preparation Tax Software in the industry is probably one of the slowest industries to embrace cloud technology for its software needs. By the time cloud computing was introduced in the market, it just no longer makes any sense to software that isn’t built around cloud technology. One of the most significant drawbacks of relying on desktop installed software is the investment needed to create an office network that is both expensive and temperamental. All it takes is one bad OS update or faulty hardware to halt all your progress. If you’re using cloud computing software, you can easily just hook up another computer and continue working where you left off.   2. Saving Money for the Wrong Reasons For those who are looking to save money for their business, saving money on Preparation Tax Software is one of the first things that comes to mind. However, this could actually cost you more in the long run. Consider other areas to look at when evaluating budget cuts. Paying for professional Tax Preparation Software that’s subpar to the industry standard will cost you more in terms of efficiency and the amount of training your staff will need. You need to invest good money in software that addresses your firm’s needs. As with any business, the cost of software is part of the value of the company. It is a necessity.   3. Creating Unreal Expectations Looking for new tax software because clients are looking for new features is one thing. However, switching to a new program just because of an issue with one little item is different. There are many accounting and Tax Preparation Software out there with some very useful features, but they’re not built to handle everything. No tax program is going to do it all for you and accommodate every single feature you want. Preparing a tax return is like a puzzle. The client provides the preparer with the pieces, and it is up to the preparer to assemble it using the tax software as a tool to help. Unless you’ll be investing in custom software, be prepared to adjust to the features and workflow of the tax software you invested in.   4. Not Training Your Employees Today’s tax programs are very much intuitive and flexible, allowing integrations with other apps. However, it is still your responsibility to train your employees on how to use the program. The good news is that most programs already have training in the form of user guides, demo videos, and a knowledge base your employees can use as a reference. It is essential to give your employees ample time to understand the decision to go with a particular software.   Conclusion Preparation Tax software with technical and tax support can give you some much-needed peace of mind, especially if you’re new to using tax software for your firm. Whatever tax software you choose will greatly affect how you perform your work for your clients. By learning about these mistakes, you can avoid some of the pitfalls of purchasing software for tax preparers. Keystone Tax Solutions is a leader in the professional Preparation Tax Software industry with more than 15 years of experience. Our software packages are designed to help tax professionals become more efficient in preparing taxes for their clients. If you’re looking for the best professional tax software in the market, Keystone Tax Solutions is the answer. Contact us to get a free demo today.

Tax Withholding Filing season has finished, we can all breathe a massive sigh of relief. On the other hand, this would be the perfect time to scrutinize your clients’ Tax Withholding Filing. Checking to see if the right amount of taxes were withheld from their paycheck is crucial. The cycle would continue the following year if the taxes were computed incorrectly. Many factors will affect Tax Withholding Filing is calculated, including the completion of specific life milestones such as getting married or having children. Knowing this, tax preparers should take extra care in analyzing After Withholding Filing of their clients to see that everything is in order and ready for the next tax season.   Tax Withholding Filing Time to Fine-Tune The IRS says that the time is now for the scrutiny After Tax Withholding Filing should be done. Taxpayers will not be able to do this on their own, which is why it is the job of tax professionals to help their clients with this task. Here are a few FAQs to help you figure out how to handle your clients’ specific situations.   When Should the Adjustments Be Made? Since withholding goes on for the entire year, should a change need to be made, your client needs to submit a new and updated W-4 as soon as possible. As their tax preparer, you must look into any activities your clients had within the past year that may warrant the need for fine-tuning their withholding tax. You will then need to inform your client of what they need to do for the updates to be filed.   Who May Need to Increase Their Tax Withholding? The IRS says that people who work multiple jobs or receive extra income that is not subject to withholding taxes might need to increase the amount of withholding tax from their paychecks. On the other hand, the agency suggests that a decrease in withholding tax may be necessary if the taxpayer qualifies for any deductions and tax credits beyond just the standard amount.   Who Should Check Tax Withholding Filing? The agency recommends that the withholding taxes of specific categories of taxpayers should be checked. Some examples include if the taxpayer’s spouse is an IRS employee if the taxpayer works two or more jobs at the same time or only work for part of the year, if they have high incomes and more complex tax returns, or if the taxpayer claims credits such as the child tax credit.   What About State Income Tax Withholding Filing? In select scenarios, taxpayers may need to adjust their state tax withholding as well. As their tax preparer, you may need to check with the state department of revenue for more information about this.   Conclusion Using professional tax preparation software can eliminate errors and guesswork. Software like this can significantly help tax preparers in determining if a change in withholding is necessary. The software will make the task easier for tax professionals to determine if a new form W-4 will be needed and what information should be included. To minimize errors on your file reports, using tax pro software like Keystone Tax Solutions is a must. This software for tax preparers will help get rid of the guesswork and estimates that sometimes make the job so stressful. Get the best professional tax software by contacting us today!

When you start a new job at a company, you have a couple of documents you need to process concerning your taxes. It’s actually a lot less complicated since your employer is the one that withholds money from your paycheck to pay your tax dues. However, if you’re a contractor or a self-employed individual, income taxes work a little differently. You have to personally prepare your taxes and report them to the IRS. Sometimes, to make things a little easier, you have to use software for tax preparers. On the other hand, the companies that use your services will have to report your earnings, too. This is where the W-9 Form Tax comes in. The following are the steps you need to take when filing your W-9 Form Tax.   What Is the W-9 Form Tax? The W-9 form Tax is also known as the Request for Taxpayer Identification Number and Certification. This form is what employers use to get the Taxpayer Identification Number (TIN) from contractors, freelancers, and vendors. Basically, it acts as an agreement of sorts that you, as a contractor or freelancer, are responsible for withholding your own taxes from your income, as opposed to an employed individual where the employer does the withholding. At the end of the tax year, those businesses you did work for will then use the information on your W-9 Form Tax to complete a 1099-MISC form. This form outlines all the payments made to you. W-9 Forms Tax are easy to get since most companies and financial institutions already send them out to their contractors and freelancers. You can also just download them from the IRS website.   How Do You Fill Out the W-9 Form Tax? The W-9 Form Tax may look intimidating at first, but that’s mainly because of the lengthy instructions. The form itself is less than a page long if you take out those instructions from the form. The company that hired you should fill in its name and employer identification number (EIN) in the appropriate sections. After then, you start filling out the form line by line. Personal Information – Start by putting all the necessary information on the form, including your full name and business name. If you do not have a business name, trade name, or DBA name, you can just leave it blank. You also need to put in the address where your employer will mail your information returns. Federal Tax Classification – First, you need to check if you are filing as an individual, sole proprietor, or single-member LLC owned by an individual. This is important since a sole proprietor business operates under the owner’s social security number, same with single-member LLCs. Exemptions – Only certain businesses and entities are required to fill this out. If you’re just filing as an individual, you can skip this section. Taxpayer Identification Number – You can either put your own social security number if you’re filing as an individual or your employer identification number if you’re filing as a multi-member LLC.   Conclusion Filling out your W-9 Form Tax is pretty straightforward. You don’t have to worry about anything as long as you know how you will be filing and when you should file your form. Hopefully, these tips will help you understand the intricacies of filing and ease your mind on what needs to be done. If you need professional assistance, you can use a tax pro software or hire an accountant to help you take care of all your tax-related concerns. Keystone Tax Solutions is here to help you make better sense of your taxes. We are the leader in the professional tax preparation software industry with more than 15 years of experience in developing tools for accountants and tax professionals. So, if you need an efficient and intuitive tool in preparing your taxes, get the best professional tax software from Keystone Tax Solutions today!

To keep yourself up-to-date in the way you prepare your clients’ taxes, it is important to make yourself familiar with any updates or changes that are associated with the child tax credit. Significant changes were introduced in the American Rescue Plan to this type of credit. If you are not yet fully aware of what this update entails, this blog post will help bring you up to speed. As you may already be aware, the Important Child Tax credit is a partially redeemable type of credit that will be applicable to families that have children. This tax credit will be refundable at the end of each tax year if the taxpayer spent less of the tax amount during the taxable year. This type of credit is not new in itself, but here are the specific updates that were made to this tax credit and what you need to know to help you serve your clients better.   Important Child Tax Credit Updates: What You Need to Know   1 – How Has This Tax Credit Changed? There are three significant changes that will apply to the 2021 child tax credit. In a nutshell, for the tax year 2021, the child tax credit may be fully refundable, it may be received as a monthly payment option and it will involve a larger amount per child. These are the latest updates, and should there be any changes, tax pro software like Keystone Tax Solutions will make sure to incorporate them when they become available.   2 – Who Qualifies for the Additional Tax Credit? To be eligible for the updated chi8ld tax credit, your clients’ adjusted gross income must meet a certain threshold. It is as follows: $75,000 or less for single filers, $150,000 or less for joint filers, and $112,500 or less for head of household filers. The threshold for families that make more is still in place, allowing them to receive a lower credit of $2000.   3 – Is This a Permanent Change? As of the time of this writing, the update will only apply to the tax year of 2021. It is not a permanent change.   4 – What About the Tax Credit for 2020? The tax credits for the previous year will not be affected by the update as the change only applies to the year 2021. The previous guidelines will still apply for 2020.   5 – How Can I Automate Preparing My Clients’ Financial Reports? The best way to go about doing this is to use professional tax preparation software. This will ensure that you will avoid committing errors during the course of the tax preparation process. You will have less work to do when you finalize the reports.   Conclusion If you are looking to start your own tax business or work as a tax professional, you must be aware of the changes and updates that will affect your line of business. Using the correct type of software for tax preparers will help you make sure that you will avoid committing human errors and make an easy job of preparing your clients’ tax returns. Gain access to the best professional tax software by working with Keystone Tax Solutions! We want to be there with you every step of the way to ensure your tax business is thriving. So contact us and get a free demo now!

The use of Social Media Market is not just limited to posting daily images.It is an effective way to market your business and grow your brand. It also builds your reputation in your tax business and establishes your relationship with your existing and future clients. You can take advantage of Social Media’s market potential in delivering and capturing the interest of your audience. For example, you can post quick budgeting advice on Twitter, hold live Q&A on Facebook, or provide tax-related articles on LinkedIn. Doing this can help you build your credibility and form a lasting relationship with your customers all year round. Unfortunately, starting your social media campaigns can be daunting and overwhelming. To help you, here are some tips on how you can effectively start a conversation about the tax pro software that you use and the services that you offer! 1. Find the Best Social Media Market Platform As you begin to market your business on Social Media Market, you may want to create a profile on all Social Media Market channels. While this is possible, it will not be wise and effective. You may lose your focus and fail to meet your campaign objectives. Start by finding the best Social Media Market platform to represent your professional tax preparation software. If you have no idea which platform resonates with your brand or product offerings, utilize the channel with many users. For example, you can choose to create a Facebook page and an Instagram profile. These two have the greatest number of users each month. Once established and you feel comfortable on social media, you can explore other social networks like Twitter and LinkedIn to promote your tax business further. 2. Grow Quality Followers Social media platforms are among the most convenient ways to connect with people who already support your business. However, it is possible to have hundreds or thousands of followers who never read your content or click on any of your links. The key idea is to build a thriving online community that resonates with your post and what you have to offer. These are the people who engage with you regularly, share your posts  on their feed, and refer you to their connections. Reach out to your audience by sending invites to your page. Incorporate your social media profile on your email subscription list. You can also hold giveaways to motivate your existing clients to recommend your business to their family and friends. Doing any of these will ensure that your clients get to know about you and you’ll improve brand awareness. 3. Have Relevant Content All Year Round Creating relevant content all year round ensures that you hook your target audience no matter the season. In fact, it targets the right set of audiences that will likely convert. That improves your credibility and makes you an authority in your niche industry. During the off-season, find the type of content that will still matter to your audience even if they are not preparing their taxes. For instance, you can present tips on handling taxes during holidays or giving FAQS on a common misconception about filing taxes. You can also deliver advantages why people need to rely on tax preparers using the best professional tax software in the market today. 4. Interact With Your Audience Posting content and growing your followers are not enough to make your social media marketing effective. Making your campaign effective means that you have to engage with your audience. Respond to comments and direct messages promptly. Provide answers to questions and acknowledge reviews. Listen to what your audience is saying and interact with them. Doing all of this will deepen the customer relationship, improve recognition, and allow you to remain on top of their mind even during the off-season. Final Thoughts These days, Social Media Market is essential. Many businesses now leverage the power of social networks to reach beyond their target market. As a tax business owner, you must ensure that you have a continuing presence on these platforms even if tax season is over. Adopt this approach so you’ll have a chance to remain relevant to your clients and won’t allow your competitors to be a step ahead of your game. Tax business social media marketing is an increasingly vital tool for growth and client engagement in today’s digital world. When it comes to marketing for tax professionals, harnessing the power of social media platforms can significantly expand your reach and establish your brand in this competitive market. Implementing an effective social media strategy for tax professionals involves creating informative and engaging content, timely interaction with your audience, and leveraging various platforms to reach potential clients. Incorporating tax business social media marketing into your overall marketing strategy can be transformative. Social media marketing for tax preparers not only helps in building a strong online presence but also allows for direct communication and relationship building with existing and potential clients. By sharing insightful tax tips, industry updates, and personalized content, tax professionals can enhance their visibility and credibility. In short, social media is an indispensable part of modern tax business marketing strategies. Allow us at Keystone Tax Solutions to help your tax business today! Learn more about our affordable professional tax preparation software essential in making your business grow. Get your free demo today!

While it is important to have the best Crowdfunding Tax Professional preparation software available, it’s also important to be prepared for whatever type of client will come your way. Indeed, Crowdfunding Tax professionals need to be knowledgeable enough to navigate the different industries. Now, when it comes to one of the trickier industries to understand, crowdfunding has always been near the top of the list of most difficult clients to handle. However, this shouldn’t discourage you. A huge part of the difficulties that come with handling Crowdfunding Tax Professional stems from the lack of knowledge on the processes and policies involved. In this article, we’ve prepared a brief guide on everything that tax professionals need to know about crowdfunding. We hope this guide proves to be useful when it comes to helping you navigate the industry more effectively:   Important Terms One of the first things you have to learn is the important terms associated with crowdfunding. To help you out, we’ve put together a list of essential terms and what they mean so that you’ll have an easier time handling Crowdfunding Tax Professional clients: Crowdfunding: Crowdfunding is the practice of soliciting contributions from a large number of people to provide funding for a project. Backer: Backers are individuals who contribute to crowdfunding campaigns. Deductible Charitable Contribution: Deductible charitable contributions are donations made towards an organization that is recognized by the Internal Revenue Service (IRS). Donation Model: The donation model is the method of funding for a crowdfunding campaign, where the backers receive a reward for their contribution. Equity model: The equity model is the method of funding for a crowdfunding campaign, wherein the backers receive an ownership stake in the project in exchange for their contribution. Platform: The platform is the middle person that connects the backers with the individuals or organizations behind the crowdfunded project.   Crowdfunding Tax Professional Basics While it’s important to understand the terms, in theory, you also must have a good grasp of how they function in practice. Essentially, a Crowdfunding Tax Professional campaign is used to raise funds by utilizing the huge reach of the Internet. It is usually used to gather financial contributions for business ventures, social causes, and sometimes even support for individuals who are in a time of need. Crowdfunding Tax Professional campaigns are only possible through the use of crowdfunding platforms. These platforms ensure that the contributions that backers put into a certain project are used for their intended purpose, making it safe for backers when it comes to avoiding scams. Now, these platforms don’t offer their services for free. In general, they take around 3 to 5% of the funds as a fee for their services.   Tax Issues We also need to talk about tax issues that you may have to handle when it comes to crowdfunding. Suppose you’re handling the taxes for the people behind the crowdfunding campaign. In that case, you’ll want to be prepared to handle issues regarding the determination of taxable income, self-employment tax, state and local income taxes, and excise taxes. On the other hand, if you’re employed by the backers, you’ll want to look into the deductibility of their contributions, gift tax returns, capital gains, and use tax.   Conclusion While it may be difficult to handle crowdfunding at first, it’s not something that you won’t be able to overcome with the right amount of preparation. If you ever feel lost at any point, feel free to look back at this article so that you can clear up any issues that you may have regarding this topic. If you’re looking for professional tax preparation software 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!

Everyone can agree that 2020 was a tough year financially. Keeping on top of bills, Understanding Child Tax, and your income wasn’t an easy feat. That may have played a part in the American Rescue Plan’s updates this 2021 in trying to make the landscape a little more bearable for everyone. Understanding Child Tax Credit is probably one of the most significant changes in the year. Although the concept of it isn’t new, the Understanding Child Tax Credit will hopefully be more effective in helping families overcome their debt and reduce poverty. Similar to some tax credits, the main purpose of the Understanding Child Tax Credit is to give families with children tax refunds. That amount can then be used to subtract the amount of tax a family owes to the government. The new changes are something to be mindful of, especially amid tax preparation during and at the end of the fiscal year. Here’s what you need to know and understand about the recent changes to Understanding Child Tax Credit:   Understanding Child Tax Credit Increase The American Rescue Plan usually has been untouched since 2020. However, the law has been changed in 2021 to ensure that families will get a more considerable sum of maximum tax credit for each of their children. For every child under the age of six, the family can be granted a maximum tax credit of $3,600. For every child under the age of 18, the family gets a maximum tax credit of $3,000. The Child Tax Credit used to recognize children who were only 16 years old and younger. Along with the increase, the Child Tax Credit’s terms seem to be fully refundable, unlike in 2020, where it was only partially available. It’s still uncertain whether these circumstances will hold beyond the 2021 tax year yet.   Expanded Qualifications People who hope to access and use  Understanding Child Tax Credit must have an adjusted gross income of $75,000 or less if they’re a single filer. The AGI must reach $150,000 for joint filers and $122,500 for a head of household filer. Families with higher income can still access older thresholds to receive a bit of tax credit. In addition to this, the Understanding Child Tax Credit has also been extended to other US territories. Families in Guam, Puerto Rico, and more will be able to access the benefits provided by the American Rescue Plan’s updates.   Monthly Payment Options Another significant shift in the Understanding Child Tax Credit is how families can choose to access it. Both the Internal Revenue Service and the Bureau of the Fiscal Service will provide monthly payments to families who will opt for the funds. This change is in contrast with reducing their taxes at the end of the year with the accumulated credit that they’ve come up through. Families can start getting their monthly payments by the 15th of July this year, with more details to come out soon.   Conclusion It’s crucial to stay on top of things as new updates regarding the Child Tax Credit and general tax come every day. With the responsibility of holding your client’s taxes, one must be as accurate as possible in organizing and calculating. Looking for the best professional tax software? Keystone Tax Solutions provides tax software to help make your tax preparation business run smoother and market better. Contact us today!

Everyone has an event they look forward to the most every year. Many families set up Christmas decorations as soon as November comes around, some like to count the weeks before their birthdays, and others can’t wait to play tricks and pranks on the first day of April. There is much to celebrate in these twelve months; a year won’t even seem enough! Just like any holiday, the tax season is also an important time that happens every year without fail, except no one looks forward to it—except for Becoming Tax Preparer, perhaps. The Most Wonderful Time of the Year For people who find tax codes interesting and have an aptitude for numbers, the tax season is just as exciting—and possibly more important than—Christmas or New Year. Becoming Tax Preparers, this is the most significant and wonderful time of their year, when many people turn to the experts to file their taxes for them. Tax preparers usually prepare, file, or assist with general tax forms, but they can also represent a taxpayer during IRS examinations. Certified tax preparers depend on their knowledge and computational abilities to perform their job well, but many also use professional tax preparation software to help them with their tasks. Becoming Successfully Tax Preparer Guide So, you want to become a Successfully Tax Preparer. Understandably, you’d like to work in the industry, as there are many advantages to entering this career field, and it’s even expected to grow by 2.9% through 2026. Before people can come to you to help them file their tax returns, you first have to map out your career plan. Just read through the steps below to have a clear direction on your path to becoming Successfully Tax Preparer. 1. Earn Your Degree This is the first and one of the most crucial steps towards becoming a tax preparer. Like many careers, you need to earn a bachelor’s degree if you want to work in your desired career. Earning a degree may not guarantee you a job, but it will make you a more desirable candidate. Make sure to select a finance-related field, such as accounting or statistics, as this is what most employers will require and prefer. A bachelor’s program usually takes four years to complete, but some schools offer accelerated programs. 2. Intern at a Firm Finding a suitable internship at a great accounting firm is crucial, as this will be your first work-related experience. You won’t be stuck in a classroom after graduation, after all—you need to see and experience for yourself how things go so that you can learn more about your future career. Internships usually only last for one semester, so you have to make the most of the little time you have. Earning school credit is the last of your priorities—ensure to gain significant on-the-job experience, get used to using professional tax preparation software, and build relationships with future references. 3. Get Your Credentials in Order No tax preparer will be permitted to work with just a degree and internship experience; you also need specific credentials to be able to practice or work independently. To earn credentials, you have to: Complete training courses; Register with the IRS; Pass the tax preparer exam; and Complete state licensing requirements. Getting your credentials may seem confusing and overwhelming, but your college professors should guide you through the required exams. We recommend earning your license within two months of graduating so that you can obtain a job as soon as possible. 4. Secure a Job Once all of your credentials are in order, you can now start applying for tax preparation jobs. Applying four months before the tax season starts is the best time to look for job openings, as you will have time to earn a job and receive training on filing taxes and using professional tax preparation software before the busy months. Conclusion Working as a tax preparer is rewarding—besides helping people with their tax concerns, you will also enjoy many benefits such as job security, flexibility, and lifelong learning. However, being a tax preparer will take more than just being good with numbers. Make sure to follow our guide below so that you can successfully achieve your career goals. Do you want to further grow your tax business or perform your responsibilities faster and better? Why not invest in the best professional tax software? Our software at Keystone Tax Solutions offers product innovation, flexibility, and the ability to earn incremental revenue. Get your free demo now!

As a tax preparer, it is your responsibility to keep your Tax Clients Happy. No one wants to experience the wrath of their frustrated clients, the same way that no client would ever want to work with an ineffective tax professional! Sometimes, it is unavoidable to commit mistakes within the job, but you should still do your best to correct whatever went wrong along the way. If there’s one thing you should be good at as a tax professional, it is to calculate the situation and develop a solution to the problem right in front of you. If the attitude and mood of your client are at stake, assess the risk of losing them and do the following to keep them happy.   Give Them Immediate Replies and Feedback Put yourself in the shoes of your client and think how frustrating it would be to receive no answer at all, just when the due date of your taxes is right around the corner. Give them quick replies, let them know of the situation, and don’t forget to give regular updates about their taxes from time to time. They hired you to handle everything for them, but never forget to keep them in the loop as well!   Assess Your Client’s Needs This may seem like a simple tip, but as short and straightforward as it may sound, it is one of the most challenging tasks you’re going to have to accomplish. As a tax professional, it is your responsibility to know the ins and outs of your client’s tax duties. Remember that not all taxpayers are aware of what they’re paying for; all they know is that it’s a part of their “federal obligation.” Your job is to explain every one of the tax computations and to elaborate why they need to pay one tax over the other. This is made simple as there are various software for tax preparers nowadays. These are all programmed to provide all of your client’s needed tax details.   Offer Solutions for Future Concerns They Aren’t Even Aware Of You have to be a proactive tax professional if you hope to keep your tax clients happy. If they happen to expand their business, they may encounter more taxes along the way. Give them a forecast of possible future expenses and present a deliberate solution. Not only would they be impressed by your efforts, but they would also trust you with more of their tax concerns, well enough to establish a long-lasting working relationship.   Make It a Habit to Follow up on Their Tax Concerns and Inquiries Handling someone else’s tax may get tiring at times, but don’t forget to stick to the mantra of “satisfaction guaranteed.” You promised your client a complete service, so you should deliver a completed service by the end! The thing about doing a good job is that your efforts wouldn’t go to waste. If word gets around of your professionalism and hard work, more tax-paying clients will approach you for your services.   Conclusion Handling someone else’s tax is admittedly never an easy task; however, it is still your duty to deliver what you’ve promised since the very beginning. Doing everything in order, updating your client from time to time, and providing regular tips and follow-ups would let your client know that they didn’t make a mistake in choosing you as their tax preparer. Do everything that you can, as long as you’d be able to keep your client happy and satisfied ‘till the end. Are you looking for the best professional tax software in the market to help you with your tax preparation business? Keystone Tax Solutions has got the solution for you! Our professional tax software is designed and tailored to provide all the needed functionalities by a tax preparer. Contact us now for more information about our tax software packages!

There were a lot of new Tax Codes Need changes in 2020 due to the COVID-19 pandemic. Most of these changes were created to aid people during these tough times. One way to help them is through tax credits. Since the COVID-19 pandemic is still upon us, expect to see more changes in tax regulations in 2021. These changes are necessary to help people struggling financially in the pandemic. Here are some of the Tax Codes Need that can affect 2021 tax returns.   #1 Earned Income Tax Codes Need Credit The Earned Income Tax Codes Need Credit shall be used to help low and moderate-income families reduce their tax liability. In 2021, the maximum benefit of a person who has no qualified children will be increased to $1,502 from $543. 65 is no longer the maximum age limit. Instead, they eliminated the age limit and decreased the minimum age to 19. More changes will come in a few months.   #2 Charitable Contributions If you regularly designate money for charitable contributions, you will love the new rules. The Consolidated Appropriations Act of 2021 has expanded charitable contribution deductions for people who don’t itemize deductions. Prior to that, only the people who itemize their deductions could deduct charitable contributions. However, the new Tax Codes Need rules state that taxpayers can deduct up to $300 (or $600 if married filing jointly) in cash donations. For taxpayers that already itemize deductions, there are additional tax benefits. The limit for deducting cash donations has also been suspended. Taxpayers can now itemize and deduct up to 100% of their adjusted gross income.   #3 Medical Deductions Reducing your medical expenses can help you with your tax bill. The threshold for claiming medical expenses as a deduction was set to be 10% in 2021, but that has now been lowered to 7.5% permanently. It will truly help you reduce your expenses. For example, if your adjusted gross income was $100,000 in a year, a 10% threshold would mean that you could claim any medical expenses that exceed $10,000. As for the 7.5% threshold, you can deduct any medical expenses that exceed $7,500. If you have a total of $12,000 in medical costs during 2021, you are eligible for a $4,500 deduction rather than a $2,000 deduction.   #4 Expanded Lifetime Learning Credit The Lifetime Learning Credit is a tax credit for tuition and other academic expenses. The maximum tax credit is $2,000, and the phaseout level is increased in 2021. From $59,000 to $80,000 for single filers and from $118,000 to $160,000 for married filers.  #5 Elimination of Tuition Deduction The temporary deduction for tuition fees is eliminated. This allows taxpayers to deduct up to  $4,000 to help them pay for higher education costs for themselves or their dependent children. However, you can’t claim both the tuition deduction and the Lifetime Learning Credit.   Conclusion These are just some of the tax codes you should look out for. Other tax codes are child tax credit and dependent care. Make sure to stay tuned for these updates in the different regulations and incorporate them into your clients’ returns. To make it easier for you to track your taxes, you can use a tax solution. Keystone Tax Solutions is the best professional tax software for tax preparers. Contact us for more information about the software.

In any accounting firm, there’s always that one Last Minute Client who fails to submit their paperwork on time. They rarely return your phone calls and emails, as if they’re unwilling to cooperate with you. This can be incredibly frustrating when it’s tax season, and you need to input and process all paperwork through your professional tax preparation software as soon as possible. Here are some tips for dealing with Last Minute Clients.   Send Plenty of Reminders Letting clients know ahead of time what deadlines are coming up and what documents they need to provide is important if you want to make them submit their documents on time. By sending your clients constant reminders, they’re less likely to drag their feet and delay their submissions. It’s best to write a list of all the needed documents and send them over to your client on a regular basis.   Use the Cloud If you want to make things more streamlined and efficient, especially when submitting accounting documents, use cloud-based accounting services. This will allow you and your Last Minute Clients to interact online whenever and wherever they are. Using an online tax pro software or a cloud-based accounting service gives your clients the option to upload documents anytime. If you’re constantly reminding your clients about their upcoming deadlines, they won’t have a hard time submitting all the necessary documents since it can all be done through the cloud.   Acknowledge the Perpetually Late As accounting professionals, part of your responsibilities is acknowledging that a certain percentage of clients will always rush in at the last minute, especially if tax deadlines are right around the corner. Having that attitude of acceptance towards these latecomers can help a lot to manage your stress levels and to avoid resenting your Last Minute Clients.   Remind Them of Fines and Penalties If it’s down to the wire and you’re still not getting through to your client, then it’s maybe time to use the fines and penalties card. The IRS can be quite effective in enforcing penalties and interests to late filers. Delayed filing of taxes due makes them subject to a failure-to-file penalty, which is typically 5% of the unpaid taxes for each month that the tax returns are late, not to mention the interest that goes on top of the penalties. The longer your Last Minute Client delays the submissions of documents for your tax preparation, the larger the penalties can get in the long run.   Offer to File an Extension on Their Behalf Ultimately, it’s up to you whether you want to encourage your client to file an extension. Depending on the situation, filing an extension may be the best option for you and your client. It’s important to still maintain a good working relationship with your client despite their shortcomings. Lead with empathy and give them the advice they need, so they can do what needs to be done. Your clients are less likely to disregard expectations when you approach them with authenticity and transparency.   Conclusion People are creatures of habit, and sometimes habitual lateness can be inherited by businesses. It’s up to you as accounting professionals to stay proactive in helping your clients meet their deadlines. It may be difficult at times to do this, but it’s all part of the job. Make your accounting and tax preparation processes more streamlined and efficient with the help of Keystone Tax Solutions. Our company is the leader in the professional tax preparation software industry, offering 100% web-based software for tax preparers. When looking for the best professional tax software, turn to Keystone Tax Solutions. Contact us today to get a free demo!

The annual the Deadline File Taxes is May 17, which means that it has long passed by now. However, that doesn’t mean that the opportunity to file taxes is gone for the rest of the year. Taxpayers who haven’t filed their taxes and didn’t request an extension should file right away to avoid penalties and keep the interest as low as possible. However, even if your clients don’t owe tax, it’s still crucial to file their returns sooner rather than later. Many people feel intimidated by the prospect of Deadline File Taxes, especially if they aren’t prepared by the time the deadline has passed. Luckily, with the help of software for tax preparers, you can convince your clients to get their documents together so you can file their taxes as soon as possible. Here is why your clients must file their taxes even after missing the deadline:   They Won’t Get a Refund While many people aren’t enthusiastic about paying taxes, one notable perk of filing tax returns is that they are eligible for tax refunds. Additionally, taxpayers won’t have to pay the penalty for late filing if they’re owed a refund. However, they won’t receive it unless they file, so it’s best to file as soon as possible, even if it is after the Deadline File Taxes. However, when you have clients that owe tax, they’ll also have to consider a host of other factors. Ideally, they should file a tax return or ask for an extension. They should also pay all taxes they owe before the Deadline File Taxes to avoid penalties and interest. However, in reality, that sometimes isn’t what happens; additionally, the request for an extension is also due by the tax deadline, after which penalties and interest take effect. The more time passes, the more expensive these will be.   The Sooner, The Better The IRS usually charges 5 percent of the tax amount owed each month that the taxpayer files the return late. However, this calculation applies only for filing up to five months after the deadline. After that, they will subtract the penalty for failing to pay from the overall penalty, accounting for other penalties, like failure to file. If you take more than 60 days to file your client’s taxes and pay them, however, their situation rapidly worsens. The minimum penalty they’ll pay is either $435 or 100 percent of the unpaid tax, whichever is lower. Additionally, the penalties add up very quickly, so your clients must know the importance of filing their taxes and paying right away, even if they can’t afford to pay the whole bill at once. The government enforces a penalty rate for failure to pay, which is 0.5 percent of the unpaid tax owed each month or part of the month. The penalty stops when the taxpayer fully pays what they owe or until they pay 25 percent of that is due.   They Have More Time Than They Think It’s important to note that even though the Deadline File Taxes has passed, the IRS says that some taxpayers still have time to file returns even if they didn’t request an extension. For instance, members who served in the military or are currently in a combat zone can qualify for an extension of at least 180 days to file and pay. Disaster victims who qualify also have more time to file and pay their returns. Lastly, support personnel in combat zones or in a contingency operation as part of the Armed Forces can request a filing and payment extension. Regardless, if your client has difficulty paying their taxes by the deadline, it’s crucial to coordinate with them to determine their options. Doing so will help them avoid the hefty penalties they will otherwise face. The IRS recognizes the various circumstances that can complicate a person’s ability to file, offering excellent solutions to your client.   Conclusion The importance of filing tax returns and paying them on time cannot be understated, but various people miss the deadline for different reasons. By encouraging your clients to take advantage of the various options available to them, they won’t have to worry about facing expensive penalties that can compromise their financial situation. Keystone Tax Solutions offers the best professional tax software for tax preparers that’s easy to use, affordable, and designed to grow your tax business. It’s entirely on the cloud, has unlimited customer support, and has no hidden fees. Try a free demo today!

The global pandemic has brought a lot of changes, and most of them are devastating. One of them is that Unemployment rates in the US have significantly risen in 2020 due to COVID-19. Still, there is light at the end of the tunnel because many people have received Unemployment Taxes compensation for the first time in 2020. Now, the question many have is if it’s taxable. So, Is it?   The Answer is… Yes, Unemployment compensation is taxable at a federal level, and most likely at the state level, if the total income is more than the minimum required to file. Keep in mind: taxable benefits for 2020 include Unemployment compensation under the CARES Act or the second stimulus package bill.   What Did the American Rescue Plan Do? Based on the American Rescue Plan, the first $10,200 of unemployment income for individuals who make less than $150,000 per year will not be taxable on the 2021 return. If your client is married, each of them is entitled to this for a combined total of $20,400. On the other hand, if you make over $150,000 or more, you won’t be able to take the exclusion.   But, What If Dealing With Clients Already Filed for the 2021 Tax Return and Didn’t Take the Exclusion? Let the IRS take care of it! This is because if this is the case, the IRS will refigure the taxes at the start of spring. There’s likely no need to file an amended return for Dealing With Clients to take the exclusion. In the case that Dealing With Clients overpaid, your client will receive an additional refund, or the overpaid amount will be applied to what they owed. With this, the IRS will directly send the additional refund to Dealing With Clients, which will start in May 2021. There will be two phases of recalculations—first, the IRS will work on single and married taxpayers who qualified for the $10,200 exclusion, and second, they will sort out the returns for taxpayers who filed married, filing jointly and eligible for the $20,400 exclusion.   What If Dealing With Clients Now Qualifies for an Additional Tax Credit? In this case, you will need to file an amendment for Dealing With Clients. On the other hand, if Dealing With Clients already claimed the credit but needs to adjust the amount based on the exclusion, the IRS will take care of this and calculate it. However, Dealing With Clients didn’t claim the deduction and is now qualified, they should file an amendment to claim the tax break.   How Can You Help Dealing With Clients Reduce What They Own on Their Unemployment? The first thing would be to help Clients check their withholding on their unemployment compensation. Next, let them withhold Unemployement Income Taxes as they would normally do with their regular income. In that case, Clients must fill out Form W-4V, Voluntary Withholding, and they can withhold up to 10%.   Conclusion Dealing With unemployment income tax is confusing to people who are not well-versed in taxes. That’s why you should know how to work on this to ensure you deliver the necessary help to your clients. Better yet, utilize tools and apps that can assist you in Dealing tax-related work. Make your job easier with the best professional tax software from Keystone Tax Solutions. Get a free demo today!

The tax season can be a daunting and exhausting time for many adults due to the complexity of tax laws. Instead of filing through the paperwork themselves, some people prefer to leave Working Tax Preparer work to those who know how to do it to avoid the stress. This is where the help of Working Tax Preparers comes in handy! Working Tax preparers are in charge of just that—preparing taxes. With their experience and expertise, they ensure that their clients pay the required amount to the government. Doing others’ taxes may sound like a nightmare to others, but as stressful as people think taxes are, you might be surprised how good of a job working as a tax preparer can be! Here are a few of the many advantages of working as a tax preparer in America:   #1 You’re Always Growing and Learning Unlike other jobs that have similar tasks every day where you work on the same types of jobs repeatedly, tax preparation is in no way monotonous! You will never run out of unique scenarios. You never know what kind of situation you may run into, so you’re always kept on your toes while constantly learning about the latest best practices and laws in the field.   #2 You’ll Never Run Out of Work The future for Working Tax Preparers is bright! The demand for tax preparation services is only expected to go up, according to Recruiter.com. People will never stop paying taxes, which means you’ll never run out of clients who need help preparing their tax returns. Even if you’re not a full-time Working Tax Preparer, you’re sure to have solid employment from January to April. #3 Tax Preparation Is Simple There may be many guidelines and regulations to master, but the work is daily easy to manage. There are multiple professional tax preparation software programs available to help you, so you won’t feel like you’re doing everything alone! Having technological assistance will make your life much easier, so you can still enjoy your job.   #4 Preparing Taxes Is Fulfilling Many see doing taxes as tedious, complicated, and something you need to get over with so you can continue with your life. On the contrary, preparing taxes is a fulfilling job because you have the opportunity to help a diverse group of people solve their filing problems and maximize their returns. By preparing taxes, you’re contributing to the public good and giving your clients peace of mind that they’re compliant. #5 You’ll Have a Flexible Work Schedule Since the IRS requires American citizens to pay for their federal income taxes by April 15, they’ll need tax preparation services during the months leading to this date. You’ll be the busiest during the spring, but you’ll be mostly free the rest of the year. There may be off-peak work, but besides that, you’re free to do whatever you please—you can either explore other career opportunities or just relax at home.   Conclusion Working as a professional tax preparer is just as exciting and fulfilling as any other job! If you have the knack for crunching numbers and learning about tax laws, then this might be just for you! As long as you know the right people, have the necessary skills and use the best professional tax software, you’re sure to succeed in this industry! Star your tax business with Keystone Tax Solutions! We are a leader in the professional tax software industry, offering 100% web-based tax software while helping thousands of tax professionals gain access to affordable technology-driven professional tax preparation software. Get your free demo now!

Tax season is fast approaching, and as the upcoming 17th of May marks the new year’s deadline, advisors are surely in a pinch dealing with clients rushing to pay and beat the clock. Even with the help of professionals, many taxpayers still struggle to cough up enough money to resolve their debts, but the good news is that there are plenty of options you can offer to Help Clients Pay tax burden.   What Can You Do to Help Clients Pay Avoid Butting Heads with the IRS?   Tip #1: Ask Help Clients Pay Before the Deadline Your clients don’t need to pay the lump sum in one go, particularly for taxpayers who filed early in the year. Sending gradual payments over a few months is a simple yet foolproof way of meeting their dues, which clients can easily send over to the IRS website straight from their bank account. As the saying goes, slow but steady wins the race, and in this case, you’ll be improving your financial standing and avoiding unnecessary contact with the IRS.   Tip #2: Ask Clients to Apply for an Installment Plan Many taxpayers struggle to pay before the deadline, so the next best thing is to Help Clients Pay file an installment plan so they can set a monthly payment plan that suits their financial capabilities. All they need to do is attach Form 9465 to their tax return as their application! Let your clients know that they have the option to set short-term or long-term plans. A short installment agreement typically lasts for 120 days and does not come with any set-up fees, while long-term payment plans need an additional fee. Fortunately, clients can lower their fees by paying direct debit from their bank account.   Tip #3: Ask Clients to Apply for an “Offer in Compromise” Clients that still owe taxes often find themselves stuck in a cycle of debt, but they can dig themselves out of the money pit by applying for an “offer in compromise” agreement. It’s a complex and tough application process compared to an installment plan since it caters to taxpayers who are financially unstable despite having a payment plan tailored to their needs. Nonetheless, you can help them by preparing to submit their Form 656 and Form 443-A. When done right, taxpayers stuck in debt can settle their dues for less than the full amount they owe.   The Bottom Line: Providing Solutions that Help Financially Struggling Clients Pay Taxes On Time Tax planning is a complicated process for anyone, but it can feel like getting trapped into a quicksand. Clients who are juggling payments and a paycheck-to-paycheck lifestyle will need more options to ease their tax burdens, so the list above talks about a few solutions you as a tax professional can offer to help them   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.

Some things never change. One such thing is the need for professional Revenue Increased Tax help. Even in these uncertain times, tax preparation remains a steady source of income for some. But is that all it can be? Could you perhaps grow your business at a time like this? The answer to this question is yes, you can! Here are a few tips on how to do just that.   Focus on a Specific Group of Clients Don’t market yourself as a generalist. Instead, focus on a specific niche or group of niches. Show yourself to be an expert in a specific Revenue Increased Tax situation. When you do this, you’re more likely to be hired by clients in that niche. If you’re having a hard time choosing a niche, try to focus on the types of clients who have very specific needs and could benefit from expert help. A few examples of these are social media influence, divorced parents, sole proprietors, military families, gig economy workers, etc. For business clients, try to market to those that have specific Revenue Increased Tax laws like non-profits. It’s always good to remind yourself that just because you have a niche, doesn’t mean that you don’t see clients outside of that niche. You can still be hired by your regulars even if they aren’t in your specific field.   Use Social Media to Your Advantage If you’re struggling to find people in your niche, simply join groups that cater to them on Facebook and Reddit. For example, you could join groups for freelancers, Etsy business owners, divorced parents in your location, etc. Remember to follow the etiquette that your group follows. Don’t just post, for example. See if there are any threads meant for ads about relevant services and products. LinkedIn is a great way to connect to business clients. Just message them on the app!   Work Remotely Are you worried your client base is too small? Why not expand beyond just servicing local clients? Since there’s already great professional Revenue Increased Tax preparation software and a shift towards remote work, clients are extremely likely to be willing to work with a remote tax professional. Put it on your website and social media that you can work with clients from anywhere in the country. Of course, some clients may be hesitant to send personal documents via email, but there are many ways to securely send such things nowadays. If you haven’t yet, try out Revenue Increased Tax bank products. Essentially, a bank product allows clients to pay you from their tax refund at no upfront cost to them. It’s something quite a few of your clients may be interested in.   Become an IRS-approved Continuing Education Provider Continuing education credits are something Revenue Increased Tax professionals will always need. Why not take advantage of that to create a new source of revenue? Simply become an IRS-approved continuing education provider, make some courses designed to help other tax profession als get their CECs, and make money in the process.   Conclusion Your tax preparation business need not be stagnant during this pandemic. Simply create a niche and leverage social media in your quest to grow your business. There are many opportunities to grow if you choose to seize them. Need the best professional tax software? Reach out to Keystone Tax Solutions today! We offer professional tax software for tax preparers.

Since the industry is rather personal, tax preparers absolutely must have good Business Communication Etiquette. This is a non-negotiable that is key to a highly productive firm. Communication skills are a must in this day and age, and it goes without saying that delivering communication that is beyond average will add to your professionalism while giving off an immediate sense of courteousness. Both of those things contribute directly to client retention and establishing ties with clients.   What are some good tips for the improvement of tax preparers’ Business Communication Etiquette? There are, of course, two modes of etiquette in communication when it comes to business. There’s in-person or face-to-face, then there’s digitally or through e-mail, virtual meetings, and more. No matter what situation is at hand, however, it’s important to remember that client privacy must never be compromised. Discretion is key, especially since the information you can see as a tax preparer is likely not information the client will want to make public. That applies even if you’re using professional tax preparation software.   For Digital Situations Keep Your Microphone Muted Unless You’re Talking This one is more for virtual meetings with more than two people in it. It is best to avoid any unnecessary background noise in a group call or meeting as common courtesy. This also helps to minimize distractions or interruptions on the other person’s end. Proofread Your Emails This probably goes without saying, but it’s worth noting. Emails must be somewhat formal, with complete sentences. The grammar you use must also be correct in order to prevent any misunderstanding. Write Emails with Good Wishes, Correct Closings, and Salutations Email etiquette may seem outdated, but the truth is that a little bit of structure can go a long way. This one is reminiscent of how you would communicate in person. There has to be a balance between professionalism and friendliness. In order to have a tinge of warmth, inject phrases such as “Have a nice day!” to avoid letting clients feel that you’re cold.   For In-Person Situations Continue to Chat While You Work Preparing tax returns requires a lot of focus in itself, even with tax pro software. So find a way to still communicate as you work without necessarily needing long-winded conversations. When moments of silence drag on, it can lead to discomfort amidst clients. Lessen Distractions and Maximize Eye Contact When you’re able to actually sit down with a client and speak to them face-to-face, you’re able to make them feel just how valued and welcomed they are in the first place. Sure, there’s a lot of work all the time, and of course there are emails that need a response. However, those should all be put on hold the moment you’re with a client. It will give a clear signal that they’re the top priority which is crucial. Make Small Talk and Give Big Smiles Friendliness and a little bit of casual chit-chat can only ever help. It allows customers to feel like they’re more than just dollar signs. This will also contribute greatly to customer retention.   Conclusion Etiquette matters especially so for business communication between tax preparers and clients. There are a number of avenues to communicate, but a common ground is to exercise discretion and respect client privacy. Proofread your emails, keep your microphone muted, and continue to chat while you work. Need the best professional tax software? Reach out to Keystone Tax Solutions today! We offer professional tax software for tax preparers.

When it comes to ensuring that your Employees Tax Business turns out to be successful when you build it from the group-up, there are different factors that come into play throughout the process. From establishing best practices that you’ll be able to uphold when serving customers to investing in professional tax software, the factors that you’ll need to take care of are nearly endless. Over time, you’ll quickly realize that each of these critical factors add up to a significant overall effect that makes the difference between your practice’s success and failure. As you continue to take on different opportunities to help your business grow and thrive as well as it should, there will be certain pieces of the puzzle that are guaranteed to stand out along the way. One such factor that bears a much heavier weight in terms of importance is the presence of skilled employees who can help you run your business. This brings us to one question that you might have in mind: “How can I hire the best Employees Tax Business?” Well, it all boils down to asking the right questions throughout the hiring process.   Questions to ask when looking for top-quality talent for your Employees Tax Business Although the idea of answering a question by asking multiple others is a rather uncommon idea, it’s an approach that is especially critical for finding top-quality talent. Considering that human capital is a multi-faceted aspect that can be broken down into several factors that determine good and bad outcomes alike, asking the right questions will point you in the right direction for your hiring decisions. If you’re on a hiring spree or looking for top-quality professionals who can help bring you opportunities for growth and success, then it pays to know what exact questions to ask. To help you get your employee search process up to speed, here are several questions that you should ask yourself throughout the hiring process:   “What kind of help do I need?” Before you even think about hand-picking a candidate that comes your way once you put your job listing up, it’s important to first understand which roles you’re looking to fill. While it’s clear that you need to hire professionals who have tax expertise that will prove to be invaluable for your ability to run a successful Empolyees Tax Business, knowing where you need help makes it easier to shortlist candidates. By asking yourself what your preparation practice needs, you’ll be able to determine which specific types of professionals can help you with certain tasks, such as: Preparing more returns Providing assistance with day-to-day business operations Tending to the needs of clients Ensuring standard compliance   “How much can I afford?” When it comes to hiring the best professionals for your practice and finding the best candidates, financial capability plays a key role in influencing the success of your efforts. With the average accounting professional or financial services employee undergoing a significant amount of training before being hired, good candidates will require good offers. By determining how much you can afford without sacrificing profitability, you can form a more accurate idea of what type of professionals you’ll expect during your hiring spree!   “What should I look out for during the hiring process itself?” Apart from the search itself, ensuring that your company ends up with the right candidates in its onboarding process also involves becoming more well-aware of what you should be looking for when already talking to a prospective employee. If you’re not entirely sure of how you can confirm whether or not a candidate in the interview seat is perfect for the job, it’s best to ask yourself of what you want in an ideal employee, which extends to these areas: Qualifications Soft skills Self-presentation Behaviors   Conclusion Although it may seem straightforward at first, hiring the best employees for your tax preparation business is a rather meticulous process that involves asking additional questions throughout the process. By asking the three questions mentioned above (and even asking a few more) during your search and hiring process, you’ll be able to streamline your pool of candidates and only hire clear professionals! 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 our services!

As a tax preparer, you have to know everything that can potentially affect your clients. More importantly, you need to help them resolve any issues and guide them through complicated processes. Aside from using reliable software for tax preparers, you also need to be updated on every change that applies to your clients. For instance, the Questions Recovery Rebate has been a significant update and one that your clients must know about, and that is what we will talk about in this article:   What’s a Recovery Questions Rebate Credit? The 2020 CARES Act mandated that taxpayers who did not get the full amount of economic impact payments (EIP) they were eligible for will be given a refundable tax credit. It applies to both the first and second rounds of stimulus payments approved last year.   Who Among Your Clients Are Eligible for the Questions Recovery Rebate? As mentioned above, any client of yours who hasn’t received their EIP in full is eligible to claim their Questions Recovery Rebate credit. In a nutshell, your clients who have gone through a significant life event within the 2019-2020 tax year have affected the amount they were eligible for. For instance, this applies if the client: Experienced a drop in income last year. Adopted a child in 2020 (Both EIPs paid $500 and $600 per qualifying child). Is no longer considered dependent on another person’s tax return. Did not file a tax return in 2019 and hadn’t received either stimulus payment. Has a partner with an ITIN. The Consolidated Appropriations Act of 2021 changed the previous requirement that an ITIN holder’s spouses were not eligible for payment unless they were in the military. Now, as long as the individual has a valid social security number, they will qualify for the credit.   How Do You Determine Eligibility? You will have to complete the Questions Recovery Rebate Credit Worksheet for either form 1040 or 1040S, and this should already be integrated into your professional tax preparation software. The worksheet will be filled out and calculated based on the amount the taxpayer received for both stimulus payments. For this reason, you must know how much your client received in EIP. If they aren’t sure, you can check the IRS Notice 1444 and 1444-B on their IRS account online.   How Do You Assist Your Clients Who Are Eligible for the Questions Recovery Rebate? Upon completing the Questions Recovery Rebate Credit Worksheet, all you need to do is enter the amount into Line 30 on either Form 1040 or 1040S. Then, this amount will automatically be added to their refund, or if they have taxes owed, the amount could be used to offset that.   What Will Happen if a Client Received More Than What They Should Have in Their EIP? Let’s say your client got a raise in 2020. Because they may have qualified for the EIP based on their income in 2019, even if they do not qualify for 2020, they may still have received their stimulus checks. In this case, they are permitted to keep it, and no repayment is necessary. However, this does not apply to those who have received EIP for a deceased loved one, such as a spouse. For this situation, they will have to return the payment to the IRS, and you can assist them through the process as indicated on their website. There might also be an issue if a parent claimed a child that is no longer on their 2020 return. The way it should be is that whoever has the child on their 2020 tax return should get the Recovery Rebate Credit. It doesn’t matter whether or not the taxpayer is the custodial parent.   Conclusion Remember that the whole Questions Recovery Rebate matter can be confusing to some of your clients. And as their trusted tax preparer, you must make sure that they understand it and comply with the law. By considering the information given above, you can make the right decisions for your clients so that they don’t end up facing penalties! Keystone Professional Tax Software is made specifically for purposes like this, to make sure that you can do your job as a tax preparer as hassle-free as possible. Having the best professional tax software can help make the job easier when changes like this happen because you can update the forms and the clients’ records without hassle! Get in touch with us today to learn more about our services!

Tax season has always been the bane of a professional’s existence. While start-ups up to Fortune companies are always on the lookout for expert help, certified public accountants (CPAs) and tax preparers know the industry is fiercely competitive. No one ever loses the need to prepare their taxes, but marketing during tax season means plowing through a dog-eat-dog space to acquire New Tax Clients. Seeing as clients are the bread and butter of any business, your accounting firm needs to polish its marketing strategy to scour enough leads to stay ahead of the pack. If you’re wondering how to fast-track your customer’s journey and turn initial prospects into loyal New Tax Clients, then consider the tried-and-tested lead generation for CPAs tips below: Tip #1: Optimize Your Website There’s no doubt that the world is increasingly becoming digital-reliant, so running a website is no longer a marketing afterthought as it often serves as the gateway where potential clients can access your business. Seeing as most people search for tax preparers online, it makes sense to optimize your website and ensure that it is responsive, visually appealing, and user-friendly. Incorporating digital solutions like SEO can do wonders to put your business on top of search results, increasing your chances of driving traffic to your accounting practice. Tip #2: Build a Social Presence As mentioned above, most of your consumers — young or old — are likely active somewhere on the plethora of social media channels on the world wide web. A website may serve as your digital brick-and-mortar, but having a social presence steers you into an avenue where you can establish more meaningful relationships with your target audience. It’s the space where you can give your business a strong voice, allowing you to tap into broader demographics and increase your following. If you’re still on the fence about going online, then consider this: 68 percent of Americans are actively using Facebook, so failing to sign up would lock you out of building your New Tax Clients pool. Tip #3: Leverage Word of Mouth Even after pulling all the stops to enhance your tax marketing strategy, sometimes nothing beats the confidence clients feel with word of mouth. Referrals from friends, family, or colleagues often receive more positive feedback since 92 percent of consumers trust people’s recommendations within their circle. One way to encourage your clients to offer referrals is to provide a discount or incentive, making it a win-win scenario for you and your customers. The Bottom Line: Inviting New Tax Clients to Your Business The tips above should boost your marketing efforts and help you garner new customers, but at its core, the best way to put your business in a higher position is to optimize your workflow. Ensuring the tax season is as pain-free as possible can speak volumes about the quality of your business, allowing you to bolster your reputation in the long run. Understanding how to attract new tax clients is essential for growing your tax preparation business. We hope it’s clear now that key strategies regarding how to get tax clients involve leveraging both digital and traditional marketing techniques. An effective online presence, coupled with targeted advertising, can significantly increase your visibility to potential tax preparation leads. Additionally, networking in your community and offering exceptional service to existing clients encourages referrals, which is a vital method in learning how to attract new tax clients. 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.

Tax season is dreaded by many, and for Tax Professionals Software, this is the busiest time of the year. For most Americans, April 15 of every year is the deadline to file their taxes with state and federal agencies. During this time — from the start of the new year to mid-April — Tax Professionals Software work grueling hours to ensure that individuals and business entities get their taxes in order. With that being said, they’re dealing with millions of documents and financial reports, making it incredibly confusing and difficult, especially when you don’t have an effective system. Thanks to the advancements in technology, tax professionals can utilize tax software to improve the way they manage their client’s taxes and ensure they hit the deadline. But with the plethora of Tax Professionals Software in the market, choosing the perfect one for your firm can be a headache! If you’re looking for tax software that will tick all the factors you’re looking for in software, Keystone Tax Solutions takes the cake. In this article, we’ll give you a brief overview as to why Keystone Tax Solutions is the best professional tax software. Let’s take a look!   Why Should I Choose Keystone Tax Solutions? Keystone Tax Solutions’ ALL IN ONE software package is perfect for different businesses — big or small. So whether you have 50 clients or 500 professionals on your plate, this software allows thorough management of accounts with easy-to-use features allowing you to breeze through tax season without any worries. Because of its powerful features, Keystone Tax Solutions can give your client’s a centralized view of the health and efficiency of their business in an ALL IN ONE platform. Doesn’t this sound so convenient?   What Does Keystone Tax Solutions’ ALL IN ONE Package Have? Keystone Tax Solutions’ ALL IN ONE package was designed specifically for tax professionals. With that in mind, it helps manage all their tasks with ease, allowing your team to prepare your clients for taxes and get accurate and efficient results. The ALL IN ONE software package is the most popular software for tax offices that have 50 to 500 clients, and for a good reason. The great thing about this software is that it stops overpaying in hidden fees and other over-priced software, making you save more on big fees — no wonder it’s the best professional tax software in the market today! Besides that, the ALL IN ONE software package also includes 1040, Sch C, and state, allowing you to enjoy unlimited returns in all 50 states and D.C. Not to mention, you can also have an unlimited amount of additional users and three-year return access. With a myriad of high-quality features, Keystone Tax Solutions is 100% web-based, meaning your employees can work remotely and in a more comfortable environment. This way, your team can be more productive and hit target goals and deadlines wherever they are.   The Bottom Line: The ALL IN ONE Software Package Is the Ultimate Tool for Tax Professionals With tax season behind us, many tax professionals are finding ways to improve their system before the April 15 of next year arrives. That’s why it’s best to use the best professional tax software — Keystone Tax Solutions’ ALL IN ONE Software Package.   Are You Looking for the Best Professional Tax Software? Keystone Tax Solutions’ ALL IN ONE software package is the go-to platform for tax professionals, and for a good reason. Its hefty features provide easy transactions, efficient client management, and unlimited tech support and training, providing your team with the best experience. Try our free demo today!

Learning how Buying Tax Software program can help you is one of the best things any tax professional could receive. Whether you plan to utilize them for work or to prepare to start a business, Buying Tax Software program would definitely help you in figuring out how the process works! The only thing you need to do is find the best professional Buying Tax Software for your needs.  In this article, you will find guide questions that you can refer to when looking for such software. Here are some things to ask before taking the plunge:   1. Does it give accurate results? Manually doing the taxes could be tiring, but sometimes, people simply feel more comfortable knowing that they did the computation themselves. Relying on a computer to do it can sometimes trigger a lot of anxiety. Did they use the right formula? What if they computed them differently? However, keep in mind that even manual accounting is prone to making mistakes. A computer has more chances of staying consistent and correct as long as it utilizes an up-to-date formula. The best thing you can do is make sure that the software you are eyeing is constantly updating. You should also do your part by ensuring that you manually update your software or approve for automatic updating, should there be such an option.   2. What kind of customer support do they offer? Customer support is crucial, especially if you have clients yourself. It would be best if you buy software from a company that provides reliable customer support. That way, should an error or issue arise, especially during crucial tax deadlines, you know that you get the help that you need! Confirm all information you need about their product and service. A good enough company ensures that their clients know how to reach them. They also provide contact information in all means and provide extended hours of support during tax season.    How much is it? Another vital concern to consider is the price. How much is your budget? This concern can be answered based on the type of usage you plan to get. Are you managing a firm or a simple solo practitioner? It would be ideal to find a software subscription that gives you options based on your needs! Paying annually can also give you more savings than paying monthly, so consider this as well.   How easy is it to use? You would not invest in software that would only make things complicated for you, would you? Although the tax filing process may be the same for all the available tax software platforms, there will always be a standout feature for each option. Find out what they are, their other offerings, and where you would benefit more. Here are some nice-to-have elements you should look for: Software notifying clients about the inconsistencies or possible errors in their file; Software that lets you see your filing status; and Software that shows you how many you have accomplished so far and how many are left.   Do they offer complete forms? Filing tax includes several different forms, and they are essential in getting the job done. To ensure that your job gets done efficiently, having complete resources would be helpful.  More importantly, make sure they are easy to navigate and understand. Look for software with added perks of telling you information to know about the forms they have and their other features.   Conclusion Purchasing software is always an investment. You get them because you want the software that would give you that convenience and quality of work. Because you are paying, you should not settle for anything else. You can start by listing down your top software tax wishes or referring to this guide. If you are looking for the best professional tax software, consider checking Keystone Tax Solutions. We are a leader in the professional tax software industry with more than 15 years of experience. We offer 100% web-based tax software to help thousands of tax professionals in the US with doing their job. In our software, you get more than what you pay for. Contact us today to find out more. 

You’ve spent many long years studying to be a Tax Business Launching professional, and you’ve finally decided: now is the time to launch your own tax preparation business. Fortunately, there’s never been a better time to do so than the present: with so much technology available at your disposal, like professional tax preparation software, it’ll be even easier for you to get started. Apart from making a name for yourself in the industry, starting your own Tax Business Launching comes with numerous benefits. You can kiss goodbye to a 9-5 schedule, produce more output in a shorter amount of time, and be your own boss. Here are five benefits of launching a tax business:   1. You Can Earn Big Even if you’re just starting as a tax professional, you can earn around $21 an hour. This sum increases depending on how long you’ve worked, the types of tax returns you can prepare, and where you are located. Naturally, the more experience you have, the more this hourly rate goes up! However, if you’re starting a business by yourself, you have even higher earning potential, particularly if you start at home. You won’t have to worry about overhead costs, so whatever you’ll be receiving is mostly profit. If you charge $200 per client and serve 170 clients between January and April, you’ll be making $34,000 from that alone. If you take on even more clients, you’ll be earning most people’s yearly income in just three months!   2. You Don’t Have to Work All Year Another benefit of opening your own Tax Business Launching is that you can kick things into high gear for three months and relax for the rest of the year. You can also choose to prepare complicated tax returns, effectively turning your business into a year-round one, earning more income. Adding more services like bookkeeping and payroll, financial services, and even taxpayer representation will keep the money coming even outside of tax season. Of course, if you love having large swathes of free time, you can choose to focus on those three months alone and still earn big.   3. Your Holidays and Summers Are Free One of the best parts about running your own Tax Business Launching is the flexibility that comes with it. If you choose to work actively during tax season, that means you’re free to take months-long vacations during the holiday and summer seasons. This arrangement works even better if you have children at home, if you’re an avid traveler, or you generally like relaxing. You can also spend the rest of the nine months focusing on another business, keeping you busy and diversifying your income streams.   4. You Control How Much You Work As the founder of your business, you ultimately decide how much you work. You’re at the helm of choosing to take on more clients or invest in the ones you currently have. You can weigh the pros and cons of expanding your business or keeping it small with you as the sole tax preparer. While these arrangements have their advantages and disadvantages, what ultimately matters is that everything is up to you and what you think is best.   5. You Can Start At Home Finally, a great reason to launch your own Tax Business Launching is that you can start at home. That means getting started right away without having to spend too much. By equipping yourself with your tax knowledge and the best professional tax software, you’ll have what you need to get started on taking on clients and preparing their taxes for them!   Conclusion Starting a tax business by yourself can be intimidating to many, especially if you have just a few years of experience in the field. However, there are plenty of benefits that come with it, making the leap of faith worth it. Keystone Tax Solutions is the leading software for tax preparers that is entirely web-based. We have helped thousands of tax professionals start their own business and thousands more gain access to affordable technology that has improved their efficiency and performance. Try our free demo today!