ThomsonReuters

DECEMBER 4, 2024

Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms. Jump to: 1.

tax return

CPA Practice

JULY 15, 2025

This white paper explores why non-CPAs are buying firms, the challenges they face, and how they can leverage technology and direct ownership offshoring to build and scale modern CPA practices. The subscription-like nature of tax, audit, and advisory services makes these firms attractive to investors seeking long-term, stable returns.

cpa firm

ThomsonReuters

JULY 29, 2025

He was stepping into a world of 700 annual tax returns, manual work papers, and the kind of grueling tax seasons that leave practitioners questioning their career choices. For years, the firm relied on manual work and paper preparation, a time-intensive process that consumed countless hours during tax season.

cpa firm

ThomsonReuters

FEBRUARY 6, 2025

In the fast-paced world of accounting and tax preparation, every minute counts. According to the 2024 State of Tax Professionals Report , time management, meeting deadlines, and timely filing were the second highest set of challenges for survey respondents. Blog series: Interested in more tax season tips?

cpas

ThomsonReuters

DECEMBER 27, 2024

This marks a pivotal shift for tax and accounting professionals, fundamentally altering how digital asset transactions, including cryptocurrency , are tracked and reported for tax purposes. Consider offering tailored services for reconciling transaction histories, calculating adjusted bases, and preparing Form 1099-DA filings.

Real Estate

TaxConnex

JULY 29, 2025

If your sales tax obligations have gotten ahead of you – and you owe back taxes – you have a few tools to mitigate your problem. You can refund collected sales tax to your customers, or you can proactivity register with a jurisdiction and pay what you owe. A VDA can make the sometimes-hefty penalties disappear.

tax return

ThomsonReuters

DECEMBER 27, 2024

Managing crypto compliance While capital gains and losses are significant for tax compliance, auditors must also consider the broader implications of crypto events and transactions for financial statement (GAAP) reporting. Here’s what to look for in cryptocurrency audit software : AICPA SOC 1 & 2 audited tax software.

audit

MyIRSRelief

DECEMBER 13, 2024

How CPAs and Lawyers Can Collaborate with Mike Habib, EA for Tax Representation Referrals Mike Habib, EA, is a trusted tax resolution expert with extensive experience helping individuals and businesses resolve complicated tax issues. Contact us today at 1-877-78-TAXES [1-877-788-2937].

cpas

ThomsonReuters

FEBRUARY 13, 2024

1040 preparation, financial advisement, bookkeeping). Here are some basic ways to keep your tax preparation invoice process moving smoothly through the most demanding time of year: Establish file-naming conventions. Using an online portal to upload PDFs of the tax return and e-file authorization.

tax preparation

ThomsonReuters

JANUARY 14, 2022

The tide moves in every quarter, and there is always tax season. A recent survey revealed that 82% of tax professionals identify as feeling burned out. It’s a significant issue for tax professionals and accountants. How does burnout affect tax professionals? 3 steps to avoid burnout during tax season.

Tax

ThomsonReuters

JUNE 15, 2023

You work to improve your tax and accounting firm — increase profitability, expand into new areas, and find a better work-life balance. Tax firms are feeling the pressure of changing tax regulations, along with clients who expect greater accuracy and faster responses in the digital age. Identify problem areas in advance.

Technology

ThomsonReuters

FEBRUARY 2, 2022

the potential market available to tax and accounting firms is massive. How to market tax and accounting services. You can do this online through blogs, white papers, webinars, and podcasts, or offline through speaking engagements and networking opportunities. Turning tax clients into full-service clients.

accounting firms

ThomsonReuters

JANUARY 31, 2024

But these inefficiencies are fixable thanks to advancements in technology that are making it easier than ever for tax professionals to access the tools to revamp their workflows and eliminate these frustrating inefficiencies. Use this checklist to get started on the path to a seamless 1040 tax workflow and the opportunities that come with it.

Tax

ThomsonReuters

FEBRUARY 28, 2024

Her firm is also staffed by four full-time employees and a few part-time positions that are outsourced. “I view the tax firm as my own Google experiment,” Shaul says. “I That was 2004, and now she has her own place and is no longer sub-leasing. She also hated having to deliver “bad news” when her clients owed money.

cpa firm

ThomsonReuters

JANUARY 16, 2024

But the most successful tax workflows often depend upon the level of client engagement throughout the 1040 process. Their attentiveness dictates how soon you receive signed engagement letters, tax documents, and invoice payments. This can lead to : Faster responses Quicker turnaround times Fewer tax season delays.

Tax

ThomsonReuters

OCTOBER 3, 2024

← Blog home For most accounting firms, tax preparation is a cornerstone of their business. According to a recent survey of 180 tax professionals at accounting firms, 88% of respondents indicate that their firm currently offers tax advisory services. Are you currently giving away tax advice for free ?

Technology

ThomsonReuters

JUNE 8, 2023

Tax season can be a hectic time for tax professionals, but the off-season is a perfect opportunity to take stock of your practice and make sure you’re ready for the upcoming year. These programs also provide self-help resources for those needing guidance with taxes.

Tax

ThomsonReuters

JANUARY 29, 2024

This is where technology, particularly tax automation, plays a pivotal role. The role of tax automation Automation is a strategic asset in recruitment and retention. Automated tax processes standardize workflows, reduce manual errors, and significantly reduce the time spent on repetitive tasks.

Technology

ThomsonReuters

AUGUST 24, 2021

To build a persuasive business case for sales tax software , professionals need to explain how automating certain tax functions and improving reporting and analysis will benefit the company as a whole. In other words, don’t tell your CEO why tax software is a wise investment – show them.

Technology

ThomsonReuters

MAY 11, 2023

For accounting firms, automation is perhaps the single most effective and immediate way to achieve greater efficiency, particularly when it comes to eliminating the manual tasks associated with accounts payable/receivable , payroll, tax compliance, and financial reporting. No more manually detecting blank fields or numbers that don’t add up.

Technology

ThomsonReuters

OCTOBER 31, 2023

While 51% of accounting professionals believe that ChatGPT and generative AI should be applied to tax, accounting, and audit work, opinions are divided about the usefulness of AI tools. One of the primary concerns centers on how AI will affect accounting jobs and the career outlook for tax professionals. Can AI do accounting?

accountant jobs

ThomsonReuters

MARCH 25, 2025

Jump to The challenge of tax preparation A better way: The future of tax preparation Why UltraTax CS is the smart choice for tax preparation software Are you ready to learn more? But modern tax technology is changing all that. Lets take a look.

tax preparation