As a tax preparer, your files and client information are both very important. Lots of things could happen in the world of technology – hard drives could crash, you could download a virus, your system could be breached, etc. There needs to be a safeguard in place so that you have a way to […]
Displaying: January 2014
Pens and Pencils
Don’t use a pen when doing your tax homework. DON’T USE A PEN. There is just never a good reason to risk the heartache involved in using a pen. Get home from work late only to realize that your mechanical pencil is out of lead and there is no more in the house? Go to […]
IRS Publications: The Best Friend You Didn’t Know You Had
IRS publications and I have generally had a love/hate relationship. They are often much more accessible and helpful than the standard form instructions, but the accessibility gets considerably less appealing the longer you read them. The reading assignments for the advanced course have been much shorter than those for the Comprehensive Course which is not […]
Is Your Tax Office Stuck in the Wrong Decade
If you’re reading this blog while sitting at the office then stand up and take a look around (if not, do this the next time you’re there). What is the overall feel of the office? How well does your equipment work? How old are your computers? Does the ambiance feel dated? Are your preparers ready […]
Organizing My Homework
After completing the Comprehensive Tax Course, it became readily apparent that I needed a method for organizing my completed assignments. When I sat down to do some tax homework the other day, I noticed a growing stack of forms and schedules on my desk. I like to keep my completed assignments because sometimes I want […]
There’s Always More to Learn
As I work through the Advanced tax course it has been interesting to see how much additional information there is beneath the surface. While the Comprehensive tax course spent a lot of time getting me comfortable with basic tax return preparation (by hand as discussed in a previous post), the Advanced course really builds on […]
Will Tax Preparers Be Regulated in the Future?
The RTRP debate is not a new topic within the tax industry. It started on January 1, 2011 with the IRS’s enactment of new IRS Preparer Regulations requiring registration, testing and annual continuing education for previously unregulated tax preparers who prepare tax returns for compensation. The IRS regulation introduced a new professional designation called the […]
BREAKING: Court Rules in favor of IRS
BREAKING: A federal court ruled that the IRS does in fact have the authority to provide tax credits to individuals purchasing health insurance on the health insurance exchange. Get the full story on Accounting Today here. Related Articles: The Affordable Care Act: What You Should Know as a Tax Preparer Loving Vs. IRS: What […]
The Holidays Are Over!
As much as I enjoyed the holiday season and the short work weeks, everything is definitely back into full swing again. Especially for those of us interested in doing taxes. Unfortunately, some unexpected obligations that have come up for me mean that I won’t be able to work on the experience requirement for the CTP® […]
Why Your Tax Return Should be Prepared Early
IRS has announced that the first day they will accept 2013 individual Form 1040 income tax returns will be Friday, January 31, 2014. That is the date you or your tax preparer will be able to e-file your return. However, many taxpayers will have their W-2s and all other necessary documents and information available […]