Cybersecurity is a top priority for all types of businesses. For tax professionals, the increasing threat of cyberattacks means that protecting your clients’ sensitive information has never been more important. However, investing in cybersecurity measures can be expensive. Fortunately, the government offers…
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5 things to consider when training your staff
As a tax professional or business leader, training staff is a crucial part of ensuring success for your company — and your clients. Not only can proper training improve productivity and efficiency, but it also helps to keep your employees up-to-date with…
Advanced bookkeeping tips for tax professionals
Bookkeeping, or the process of accurately recording all your financial transactions, is a key part of building a successful tax business. However, it also comes with the potential for costly errors. According to Solution Scout, bookkeeping mistakes led to $1.3B worth of…
Beginner’s guide to bookkeeping
A bookkeeper fills a critical role for any business, and that is the recording and organization of financial transactions. These include customer payments for goods and services, business payments to vendors and contractors, and loan and rent expenses. Without proper bookkeeping, a…
Expert tips for women entrepreneurs in accounting
Women entrepreneurs are a growing force in the U.S. economy. In 2021, nearly half (49%) of all new businesses were started by women, a 75% increase from 2019. While industries like tax and finance have traditionally been male dominated, the demographics of…
What is tax-loss harvesting?
Investing always comes with some degree of risk, and the simple truth is that some investments don’t work out. While no one wants to take a loss, there is a benefit to a losing investment — at least when it comes to…
4 types of cryptocurrency tax events
You’re a diligent tax preparer. To you, dollars and cents tell stories of tax brackets, reportable income, deductibles and refunds. But now, a client who holds cryptocurrency walks in the door, and you have questions. Is it an asset? Is it income?…
Training tips for beginner tax preparers
Congratulations! You launched your tax preparation business. Tax prep offers high return for minimal start-up costs, and of course, tax preparation will always be in demand. Most importantly, you enjoy helping people and have the confidence to guide them through the taxpaying…
Checklist for preparers to start tax season
Tax season is here, which means it’s time to make sure everything is in order as you prepare for the busiest season of the year. While there’s no way to completely remove the stress and pressure from this challenging time, being as…
Checklist for onboarding new tax and accounting clients
They say you never get a second chance at a first impression, which is why your client onboarding process is so important. Onboarding, or the logistics and actions around getting a new client set up with your practice, sets the stage for…
7 planning considerations for this fiscal year
If you’re the person who’s always helping family and friends prepare their taxes, it might be time to start your own business. After all, tax preparation is in demand every year, and you’ve found that you have a facility for finding solutions…
How to generate new business: Best practice guide for tax professionals
When tax preparers sign up for the job, they know all about the annual tax-time crunch. Many see it like Black Friday, when four months of long, exhausting days generate much of the year’s income. Isn’t it time to put the other eight…