Tax Pros Account: Primer for Financial Professionals
The Tax Pros Account has emerged as a pivotal tool for financial professionals, continually evolving to enhance its capabilities and user experience. This platform provides tax professionals with an efficient way to manage client authorizations and access critical tax information online. The Tax Pros Account, facilitated by the IRS, is an essential digital tool designed…
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10 Tax-Deductible Employee Benefits for SMEs
As an SME owner or leader, the benefits you offer can greatly enhance employee satisfaction and retention, ultimately contributing to the success of the business. Besides the obvious morale boost, certain employee benefits also offer financial advantages through tax deductions. This blog post will explore ten employee benefit costs that are deductible on your business…
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Maximizing Financial Strategies: Tax Credits vs. Tax Deductions
In the complex world of taxes, understanding the nuances of tax credits and tax deductions can play a pivotal role in maximizing your financial outcomes. Both credits and deductions can significantly reduce your tax burden, but they do so in different ways. This guide goes into these differences and offers insights on how to effectively…
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Comparing eFile360 and IRIS
The IRS launched its Information Returns Intake System (IRIS) for tax year 2022. Then, starting tax year 2023, if you have 10 or more information returns, you must file them electronically. (Learn more about this in our Changes to the Electronic Filing Requirement in 2024 article.) So how do you know if you should use…
Introduction to Business Taxes: Your Guide to Getting Started
Having an understanding of and effectively managing taxes is not solely a legal responsibility, but also an essential element in successfully operating an ethical business. It safeguards your financial stability, credibility, and long-term growth potential, all while ensuring compliance with tax laws and regulations. In this article, we’ll get you up to speed on the…
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Unpaid Payroll Taxes: Avoid at All Costs
The IRS’s new initiative for paperless processing will it allow the IRS to process digitized tax returns and forms, but it will also allow taxpayers to submit digital tax returns and forms – even on mobile!
Identity Theft Red Flags Tax Pros Should Know
Recently, the IRS, state tax agencies, and the U.S. tax industry hosted a Security Summit to help taxpayers combat identity theft refund fraud. In this article, we’ll share our top takeaways from the Summit as well as a few other red flags and best practices to help you protect your clients’ information and your business…
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