Thanks to the Supreme Court ruling that state bans on same-sex marriages are unconstitutional, this coming tax year will be the first year that Gay and Lesbian couples can file jointly as married couples. So what does that mean for us as…
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Executing Your Strategic Plan With A Balanced Scorecard
Do you have a strategic plan in place for the growth of your business? If so, good for you! (If not, you might want to check out this blog post). Strategic planning is crucial to growth no matter what industry you are…
Becoming a Tax Business Owner Doesn’t Take Much
Set your own schedule. Make your own rules. Answer only to your clients. Who doesn’t want to be their own boss, right? If you’re getting into, interested in, or are already working in the tax industry, you may be surprised at what…
Adopting A Servant Leadership Model For Your Tax Business
Servant leadership is at the heart of how we do business both at The Income Tax School and at Peoples Tax, our sister company. It’s so important as a business owner that you set strong values for your organization to follow. For…
Why Every Tax Business Owner Needs a Strategic Business Plan
Those of us who derive our income from tax preparation continue to face the challenges of fierce competition and seasonality. We know the tax business and how to operate profitably as we’ve always done. But we are now faced with unprecedented…
5 Must-Take CE Courses for the Upcoming Tax Season
Have you fulfilled your continuing education (CE) requirements yet this year? Here is your reminder to get those CE courses in. If you’re having a hard time choosing the right ones, we’ve got a few suggestions. Tax Law Updates This course is…
5 Changes to the Tax Code You Should Know About
New tax laws here. New tax laws there. Congress seems to be adding tax code provisions and laws to new bills that have nothing to do with taxes. There have been a lot of updates and rulings these past couple of months.…
Why Tax Preparers Need to Be Proactive with Schedule C Clients
Do you have clients with many deductible losses… clients of the Schedule C variety? The IRS has got their eye on them. You can pretty much consider it target locked. Have you communicated this important piece of information to your sole proprietors…
The Advantages of taking the Chartered Tax Professional Certificate Program
We’ve been discussing credentials on the blog a lot lately. The IRS is dead set on regulating tax preparers to reduce errors and fraud; and taxpayers are being warned constantly by the IRS and the media about who they choose to prepare…
Expanding Your Target Market with Continuing Education
Being able to do taxes for the general public is a great first start – it’s a huge market to serve! But not everyone has general tax needs. Those who have a unique tax situation or more complicated returns look to rely…
The Benefits of Becoming An Enrolled Agent
Whether you are a tax preparer already or are considering a career in tax preparation, you’ve likely been thinking about whether or not to become an Enrolled Agent. Becoming an EA has many benefits and should be something all tax preparers…
How to Deal With Your First IRS Audit
It’s bound to happen. Your client gets a letter from the IRS — they’re being audited. As we said in a previous blog, most taxpayers don’t want to deal with the IRS. That’s where you swoop in to save the day, right?…