Business Strategy

  • Tax Season Wrap-Up: The End Is a Turning Point for Tax Pros 

    When the final returns are filed and the deadlines pass, most tax professionals feel the same mix of relief and exhaustion. Another season is done. What you do right now can have a direct impact on how smooth, profitable, and manageable next tax season will be. Turning Experience into Strategy Every tax season tells a…

  • One Bundle, Total Tax Workflow Efficiency: Introducing Drake Practice Essentials for Tax Professionals

    Get a fully connected tax software system that helps you run your business more efficiently while saving money.  With our tax software bundle, you don’t just get tools—you gain a smarter way to work.  What is Drake Practice EssentialsTM?  The Practice Essentials Bundle (URL to bundles page) brings together the tools you need to run a more efficient, connected tax practice:  Plus, Drake PayTM is seamlessly integrated and…

  • Practice Management for Tax Professionals: Running a Growth-Driven Tax Firm 

    For tax professionals, technical expertise alone isn’t enough to build a successful firm. Strong practice management can help transform a busy tax office into a streamlined, profitable operation. Whether you’re a solo preparer or managing a firm, improving your tax practice management systems may help reduce stress, improve client satisfaction, and increase revenue — especially…

  • A Proactive Approach to Preventing IRS Underpayment Penalties

    Identify at-risk clients early and reduce surprises Underpayment penalties aren’t just a tax issue—they’re a client experience issue. When clients receive an IRS notice, it creates stress, extra work, and often an urgent call to your office. The good news is that many of these penalties are preventable with a proactive approach. Here’s how to…

  • Cybersecurity Check: Three Cyber Threats That Can Hit Tax Offices — and 3 Things to Do First

    Tax season is peak season, but post season isn’t the time to keep your guard down — and cybercriminals know it. A bad email or fake “urgent” request can lead to stolen logins, client data exposure, or days of lost productivity. The good news: you don’t need to be a tech expert to reduce your…

  • No Tax on Tips and Overtime? IRS Issues New Guidance

    IRS releases new schedule for no tax on tips, overtime, car loans, and seniors. What tax preparers need to know for filing season.

  • How Tax Preparers May Enhance Security with MFA

    In the digital age, data security is not just a best practice—it’s a professional obligation, especially for tax preparers handling sensitive financial information. One of the most effective tools in your defense toolkit is Multi-Factor Authentication (MFA). Yet, despite warnings from the IRS and software providers, some users still disable MFA, viewing it as inconvenient. However,…

  • The Tax Pro’s Go-To Checklist for Preparing Schedule K-1s 

    This step-by-step checklist helps tax professionals gather the right information, review allocations, and confidently prepare Schedule K-1s for partnerships and S corporations. What will you learn? This practical, process-driven guide walks you through every stage of the K-1 preparation cycle, from reviewing and confirming data to finalizing returns. Get Instant Access to the Checklist Ready…

  • How to Handle Tax Season Delays with Extensions

    Tax season rarely goes exactly according to plan. Even the most organized firms face delays — missing client documents, late K-1s, or unexpected life events that derail timelines.  Extensions become inevitable. The challenge isn’t avoiding extensions altogether; it’s managing them strategically without burning out your team or frustrating your clients. Here’s how tax professionals can…

  • Trump Accounts: A Guide For Tax Professionals

    Proposed tax-advantaged savings vehicles often generate significant client interest long before formal guidance is released. One recent example is the concept commonly referred to as “Trump Accounts.” While not yet part of enacted tax law, tax professionals can be prepared to address client questions, evaluate potential planning implications, and monitor future guidance. What Are Trump…