Author Archive
Thursday, August 14th, 2008
Some have asked about the winning returns for round 1 of the the Tax Hero Challenge. Elvis the Sheetrocker had to pay taxes, so the preparers who calculated the lowest tax due won. The iPod-winning returns are as follows:
Jack - $6589
John - $6878
Harvey - $7660
Peter - $7660
Irwin - $7660
We wish everyone good ...
Posted in Uncategorized | No Comments »
Wednesday, August 13th, 2008
The IRS reported, "Third party designees, indicated by checking the box on Form 1040, now have the same authority extended to them on an amended return filed for the year in question. For details, see IRM 11.3.3.1 on IRS.gov."
Posted in tax laws | No Comments »
Thursday, July 31st, 2008
The earthquake in California reminds us of others who have faced natural disasters. The IRS is extending the deadline, until August 29, for victims of natural disasters in the Midwest to file certain returns, make tax payments and perform time-sensitive acts. This announcement affects counties in Indiana, Iowa, Illinois, Nebraska, ...
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Tuesday, July 15th, 2008
Tax preparers nationwide have accepted the Tax Hero Challenge and we found the first five tax heroes. Jack of Pennsylvania, John of Wisconsin, Harvey of Texas, Peter of Pennsylvania, and Irwin of Illinois each received an iPod® touch for calculating the biggest refund legally possible during the first round. Congratulations to our winners and ...
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Tuesday, July 8th, 2008
As of July 1, the tax credit for purchasing a Honda hybrid was halved again. The credit is now $525. The credit is set up so when a manufacturer sells 60,000 hybrid vehicles, the credit begins to diminish until it is no longer available. Toyota hybrids are already ineligible for ...
Posted in tax laws | No Comments »
Tuesday, July 1st, 2008
We have created a new line of communication for you and other tax professionals by introducing TaxWorks Forums (http://forums.taxworks.com/). If you have ever wanted to share your ideas about the tax industry, seek the advice of other tax preparers, or simply join a community of like-professionals, here's your chance.
The forum ...
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Tuesday, June 24th, 2008
It seems gas prices are affecting every aspect of our lives from rising food costs to, of course, expensive transportation. However, you and your clients may get some relief when it comes to transportation. The IRS announced on Monday that there is an increase in the optional standard mileage rates ...
Posted in Uncategorized | 1 Comment »
Thursday, June 12th, 2008
The 2008 tax season officially ended almost two months ago—we've all had a chance to unwind and hopefully take a vacation.
During the offseason, there are many things you can do to make next tax season run smoothly and be profitable. After all, there are only 202 days left to prepare. ...
Posted in Professional Tax Software | No Comments »
Thursday, June 5th, 2008
The Asset Manager is a powerful tool that will handle all of your fixed asset needs. There are more than 60 methods available to calculate depreciation. Section 179 expenses and special depreciation allowance (bonus depreciation) calculations are also available. The necessary federal forms are calculated as well as any adjustment ...
Posted in Professional Tax Software, Uncategorized | 1 Comment »
Thursday, May 29th, 2008
Posted in Uncategorized | 1 Comment »
