What teachers should know about deducting out-of-pocket classroom expenses Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be able to defray qualified expenses they paid in 2019 when they […]
Taxpayers should beware of property lien scam With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax bill from a fictional government agency.
In a QuickAlert dated 7-24-19, the IRS encourages all Electronic Return Originators (EROs) to double-check that they’ve properly filled out the ‘Firm Information’ page of their e-file application. They also warn that not doing so may result in your EFIN being deactivated.
You can take the mystery out of your client’s future tax return today; using our Tax Planning Tool built into Wintax. Today we want to make you aware of one of our powerful tools called “Tax Planning”. This is a tool that is embedded inside your program so there is nothing to add or install. […]
1. Back-Up and Protect Your Data As the tax preparer, backing up and protecting your data should be a primary concern. Making regular backups to an external storage device at a minimum of once per week is important. Imagine next week your hard drive fails. The returns you’ve done, acknowledgement reports, PDF copies, and scanned […]
Towards the end of tax season, we field some telephone calls helping clients transmit extension form 4868 for their clients. When the telephone call is about finished the client will make a comment something along the lines of “thanks, one down 40 to go!”. It’s about that time Taxware customer support becomes their best friend […]
Original article written by LatinoTaxPro.org The Tax Cuts & Jobs Act has created massive changes across the Internal Revenue Code. One of the most impactful of these changes is the reduction of the personal exemption to $0. In previous years, the personal exemption reduced taxable income which in turn reduced the amount of tax owed. As […]
Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also be claimed on certain dividends. Eligible taxpayers can claim the deduction for the first time on the 2018 federal income tax return they […]
Taxware Systems is always looking to provide information and technology that could benefit and improve the tax practices of our clients.
As the 2019 tax year approaches, we at Taxware Systems would like to remind tax preparers that protecting taxpayer information is extremely important. This includes protection from environmental risks (e.g. fire, water, tornado, earthquake), business resources (e.g. equipment failure, supply chain disruption, employees) and hostile actors (e.g. hackers, criminals, nation-state actors). The latter has been […]
