Does your website help you to generate new clients? Our tax business website, peoplestax.com, is still not much more than an electronic brochure. We would like the website to be interactive with our existing clients, while also developing new clients. We have lots of ideas, but we need to implement them. For example, before next […]
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The New Rules for Paid Tax Preparers
If you employ seasonal tax preparers how can you ensure that they are able to pass the IRS competency exam? Many tax preparers rely too much on tax software and don’t have enough tax knowledge to pass the IRS exam. We will make our tax preparers can pass the final exam of our Comprehensive Income […]
IRS presents IRS Live – New Requirements for Tax Return Preparers
Learn the Who, What, When and How IR-2010-70, June 1, 2010 WASHINGTON — The Internal Revenue Service will debut its latest educational program for tax professionals, the webinar IRS Live, on June 9, 2 p.m. ET. The topic is “New Requirements for Tax Return Preparers – Learn the Who, What, When and How.” IRS Live’s […]
Pay Scale for Tax Preparers – The National Average vs. What You’re Paying
As with many businesses, employee pay is a hot topic of discussion. Is it best to pay tax preparers a straight hourly wage, a wage plus a bonus, a wage as a draw against commission, or some other method? We believe that a performance-based compensation plan is best to ensure that tax preparers are paid […]
A Policies & Procedures Manual for your Tax Office
As tax businesses grow, one of the things they realize they need is a Policies & Procedures Manual. At Peoples Tax , we have a comprehensive P&P Manual that has evolved over the 22+ years since I founded the business. We find it essential to ensure that all employees in all of our 9 offices […]
Will IRS Modernized E-File (CADE2) result in the RAL becoming Obsolete?
IRS Modernized E-File (CADE) promised to speed up direct deposit refunds to a few days instead of about 2 weeks . Read Details at: http://www.irs.gov/efile/article/0,,id=204763,00.html The new CADE2 IRS project is explained at the following link.:http://www.datacenterknowledge.com/archives/2010/03/29/irs-data-centers-gird-for-tax-season/ We have been phasing out of RALs for the past 5 years in anticipation of faster refunds from IRS. We […]
How can you ensure security of your clients’ tax return information?
As tax preparers, we are responsible for maintaining privacy of all tax return information in accordance with IRS privacy code, Section 7216. Most tax preparation software encrypts the clients’ date when e-filing. However, if you save your clients’ tax returns as PDF files and e-mail them to the client, how can you be sure the […]
Chase discontinues Tax Related Products business
With Chase following suite with Santa Barbara Bank and pulling out of the RAL business who will be left to meet the needs of independent tax businesses to provide RALs for their clients to keep from losing clients to the national tax firms? If you are not able to offer RALs, what can you do […]
Are you planning to lease a tax office?
Below is a link to an article on entrepreneur.com with many tips on negotiating a lease, and it specifically refers to a lease negotiation for a tax office. During my career in the tax industry, I’ve negotiated, directly or indirectly, more than 1,000 tax office leases. I can attest to the many pitfalls and the […]