Tax Tips

With a successful career behind you and retirement ahead, you may feel ready to let go of your CPA status. But keeping your CPA credential active after retirement offers options that you wouldn’t have otherwise.  Reasons you may want to keep your CPA status More options in retirement Before you officially take on the CPA-Retired or CPA-Inactive designation,…

The following article was written by The Editorial Staff at TheTaxBook and contributed for use on the TaxSlayer Pro blog. When tax season arrives, you may see clients who have many kinds of income, not just the standard W-2. One of these less common income streams is rental income. Learn more about what rental income is and when to report it on your client’s…

After your client’s return is finalized and timestamped in the TaxSlayer Pro software, it is sent electronically to the IRS for review. Here’s what you should know about the process. The IRS review: What they look for The vast majority of individual tax returns are only reviewed by the IRS’s discriminant inventory function system (DIF). This computer…

Filing an accurate tax return is one of the most important business practices for tax preparers. Making an error on a client’s return will cause many issues, including delaying their refund if they are due one.  Rushing through returns can lead to simple mistakes and major headaches for you and your clients. It’s…