Are You Talking to Clients About the New For W4?
As you know, this year we welcomed a new Form W-4 with the new tax law. While the IRS is not requiring employers to obtain new W-4s from employees, it’s definitely something employers need to be aware of. Your W-4 is what determines how much federal tax is withheld – which makes it a very […]
Tax Season Is Over but the Self-Employed Still Need Your Help
If self-employed individuals are not on your radar, perhaps they should be. New research from Intuit Self Employed uncovers some very telling facts about this segment of taxpayers: 36% of self-employed workers admit they don’t pay taxes. Nearly 1 in 10 self-employed workers don’t know about the recent tax reform. More than a fourth of self-employed […]
Are Earnings from Cryptocurrency Mining Subject to Tax?
Cryptocurrency is an emerging technology that an increasing number of taxpayers are looking into. While you probably don’t have a lot of clients who use cryptocurrency, it’s important to stay on top of emerging trends. We’ve written before about cryptocurrency and how the IRS views it. Here’s an article by Coincentral.com that take a deeper […]
Are You Talking to Your Business Clients About Tax Reform?
According to a survey by the National Association of the Self Employed, 83 percent of small business owners feel as though they don’t understand how the Tax Cuts and Jobs Act will impact their business. Being able to translate precisely how the law will affect them, and the actions they need to take moving forward […]
How to Become a Tax Business Owner: Step by Step
Why work for someone else when you can get tax education and start your own business in no time? Whether you’re already a tax preparer or you don’t know anything about taxes, we can help! The Income Tax School provides the educational resources for individuals interested in both learning tax preparation and starting their own […]
Small Business Week: Lessons Learned
This week is National Small Business Week, a week dedicated to celebrating and supporting small businesses in your community. Although The Income Tax School is a National Business, its sister company, Peoples Tax is a small business. The Income Tax School actually grew out of a need to hire qualified tax preparers for Peoples Tax. […]
How to Fix the Tax Preparer Shortage
One of the biggest challenges tax business owners face (besides the tax law changes) is staffing their firms with qualified tax preparers. The qualified tax pros of yesterday are either retiring, happy where they are, or have gone out on their own to start their own businesses. The applicants that do come in, know enough […]
3 Easy Ways To Destress After Tax Season
The tax deadline may be in the past but we all know there’s still work to do. The good news is that the influx of people who need things last minute is on a downturn and the end of the season is in sight! At this point of the year, we generally encourage tax pros […]
Tax Evasion vs. Hollywood Actors
Guest blog post by Mitchell Collins The IRS likes going after Hollywood actors and other famous people for tax evasion because it puts the fear of audit into the hearts and minds of fans everywhere. When the IRS audits popular celebrities or hauls them off to prison for failure to pay their taxes, people quickly […]
3 Ways to Earn PR for Your Tax Business
In the world of digital marketing, there are three types of content (or medias): earned media, paid media, and owned media. Earned media is press (PR). When you get a mention or article written about you (without paying for it), that’s earned media. Paid media is content about you that you paid for like advertisements, […]