Resources

Want to start your own tax business, but don’t know how to start? Call us. Tax professionals are able to collect preparation fees directly from taxpayer’s refunds and may also be eligible to offer taxpayer cash advances when using 123 Income Tax Software. The Internal Revenue Service requires different tax forms and schedules for every small business category. Before choosing the software that you will...

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File advanced returns fast with the easiest to use, most complete professional tax software for CPAs and small firms. You should choose software that provides a pricing option that fits the number and types of tax returns you prepare. However, you must also consider your need to prepare complex returns and the time you could save with bookkeeping software and practice management integrations. Whether you’re a...

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Tax software is the core of a tax preparer’s business, and the best software for tax professionals includes the ability to prepare both individual and business returns. The needs of tax preparers vary greatly based on their need for bookkeeping integrations, remote access, and budget. Getting started as a professional tax return preparer may be easier than you thought. Choose a tax prep software Every tax preparer is...

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Are you hoping to tackle 2022 taxes like a champ? Small-business tax software can minimize tax season stress while maximizing your tax return for your clients. We doubt most business owners would refer to tax season as a breeze. But with the right tax software, tax-filing season becomes less stressful for sole proprietors, employers, and freelancers alike. Instead of stressing about tax filing, let your...

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If you own a small tax business you need the best online tax software for your business. Most tax software packages come with similar guarantees for accuracy and a maximum refund, but the user experience and features can vary widely. To select the best tax software for small business you have to compare pros and cons of tax software. Some great pros should be: Completely online...

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Before you start your math, you'll need a few different items for your calculations, including: Personal details: Your age, filing status (single, married filing jointly, married filing separately, head of household), if you have any dependents and if so, how many and their ages. Earnings information: Your pretax income, retirement plan contributions, how much you claim in deductions, and taxes you've already paid or had withheld so...

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Nope -- not unless you're self-employed. The Tax Cuts and Jobs Act suspended tax write-offs for home office deductions through 2025. Note that this could change next year if Congress opts to deliver more tax relief in future COVID-19 relief legislation. You can find more details about all of these tax changes on the IRS website, and CNET's Personal Finance team has prepared a wealth...

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Similar to the EITC, the child tax credit is designed to benefit working families by typically allowing them to claim up to $2,000 per qualifying child via a refundable credit. But the new stimulus bill increases the amount families can claim to $3,600 per child under age 6 and $3,000 for children over age 6. Money from the credit will be split: Half will be...

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If you were eligible to collect all or some of the first stimulus check of up to $1,200 per person or the second stimulus check of up to $600 per person, but it never arrived (or didn't accurately reflect your child dependents), you can claim your missing money on your 2020 tax return as a Recovery Rebate Credit. This credit will either increase the size...

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This year's tax season will be unusually busy for both taxpayers and the IRS, as many aspects of the coronavirus relief measures passed in 2020 will affect our tax returns," says Garrett Watson, senior policy analyst at the Tax Foundation. As always, the earlier you file your taxes, the sooner you could get a new stimulus check and speed up the delivery of any missing money...

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