Provided by Drake Software

Ethics – What Would You Do?



That’s the question posed on the news magazine and hidden camera television show of the same name.

Broadcast on ABC News since 2008 as part of the Primetime series, and hosted by newsman John Quiñones, it features cast members acting out scenes of conflict or illegal activity in public settings while hidden cameras videotape the scene, and the focus is on whether or not bystanders intervene, and how. It airs on a number of cable and satellite channels, including ABC News, OWN, HLN and ID Network.

But if the ethical challenges on the television show are hypothetical, the ones that can affect tax and accounting professionals are very real. The penalties for unethical conduct are likewise very real – ranging from loss of reputation and formal censure to fines and prison terms.

Ethical conduct should be simple — obey the laws and regulations, deal fairly with clients and peers, and foster a climate of ethical conduct within your own firm. It is not that simple, for four reasons: [Read more...]

IRS: Publication 1304 (Individual Tax Stats) For 2012 Now Available



Statistics of Income

The Internal Revenue Service today announced the availability of Statistics of Income—2012,

Individual Income Tax Returns Complete Report (Publication 1304). U.S. taxpayers filed 144.9 million individual income tax returns for tax year 2012, down 0.3 percent from 2011. The adjusted gross income less deficit reported on these returns totaled $9.1 trillion, which is an 8.7-percent increase from the prior year. [Read more...]

Staying in Touch During the Off-Season



Whether Seasonal or Year-Round Practice

Whether you have a seasonal tax practice or a year-round practice geared primarily toward tax preparation, staying in touch with your clients during the off-season is essential for a strong retention rate the following year.

There are a variety of ways to keep your name in front of your clients during the off-season: membership in civic organizations, sponsoring community events (Memorial Day, July 4th, Labor Day, etc.), social media, and newsletters (paper and/or electronic). [Read more...]

NATP’s Annual Tax Software Survey Results



NATP’s Annual Tax Software Survey

 

The National Association of Tax Preparers (NATP) has released its annual survey of tax preparation software, “Sorting Out Software.” The NATP survey used a different methodology than the 2014 AICPA Software Survey (included in another post), but Drake Software again leads the tax software vendor’s list with impressive scores. [Read more...]

5 Best Practices for Workflow



For the past 20 years we have considered it, adopted it, embraced it, invested in it, and even worshiped it as the key to efficiency and effectiveness in the modern tax and accounting practice. But do we really know what workflow is, and how to best harness its power?

[Read more...]

Free Download: Impact of the ACA



 The Affordable Care Act.

What’s the impact on Taxpayers?

What’s the impact on Tax Preparers?

We surveyed over 4,000 preparers nationwide. See the results in this Infographic.

 

Complete the brief form. The download link will arrive in your email. [Read more...]

The Cost of Being Ethical



How Being Ethical Cost You Time, Money, & Friends

© 2014, Ben A. Tallman EA

Introduction

Have you ever considered what you give-up by being ethical?  This article will discuss the dilemma that Tax Professionals face when they try to balance ethical behavior with keeping clients happy.  Have you noticed that “ethics” has recently picked-up a negative connotation?  When the media mentions ethics, it usually refers to someone getting into trouble for being unethical.  Ethics has become a set of rules and standards that cause us to become the Police Officer, Judge and Jury in the monitoring and policing of our own behavior and actions? [Read more...]

Dangerous Liaisons



Caregiver vs. W-2 Reporting

© Ben A. Tallman EA

I believe the single-issue of improperly reporting caregiver income will be the most dangerous and volatile topic over the next decade.  Why?  Because the improper reporting of caregiver income could cost our clients thousands of dollars in ‘denied medical deductions’ and in ‘unpaid payroll taxes’.  If that doesn’t get your attention, include the Department of Labor adding thousands more for missed “over-time” pay and penalties.  Mishandling this item could create a disaster for our clients and a legal “night-mare” for us. [Read more...]

Tax Year 2013 Desk Reference Guide



How you prepare can have a lot to do with how smoothly your season goes.

A well-organized office that has prepared for the upcoming months can make the sailing much smoother during a fast-paced time. Here are some other important steps you can take to ensure your office is prepared.

Download the most recent Desk Reference Guide Now.

Simply fill out the form below making sure your email address is correct.
[Read more...]

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  • Customizing Drake Software for your practice
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