Business Strategy

  • Boosting Client Retention: Essential Tips for Tax Preparation Businesses

    Client retention is key to the long-term success of any tax preparation business. Keeping clients happy and loyal contributes to a steady revenue stream and helps build a strong reputation. Why Client Retention Matters When it comes to staying ahead of the tax prep competition, maintaining a loyal client base is crucial. Not only does…

  • IRS Operation Hours: How to Reach the IRS and What to Do When You Can’t

    How Tax Professionals Can Efficiently Communicate with the IRS As a tax professional, navigating the IRS for client matters can be challenging—especially under tight deadlines or when standard processes don’t yield results. Whether you’re looking to resolve a tax notice, follow up on a filing issue, or clarify complex tax questions, understanding how and when…

  • SEO for Tax Preparers

    Five tips to market your tax preparation business utilizing search engine optimization   It goes without saying—tax preparation is a highly competitive field. While there are many ways to stand out, one that’s often overlooked is search engine optimization, or SEO. Why? Because it’s not always the easiest concept to grasp or implement. But the…

  • How to Market Your Tax Business

    In today’s competitive market, tax professionals must do more than prepare returns—they must market their services effectively to stay visible, help retain clients, and acquire new ones. Whether you’re running a solo tax practice or managing a multi-preparer firm, a smart marketing strategy is key to client acquisition for tax professionals. Use these effective marketing…

  • Key Updates to Form 1099-K

    After a few years of delays, the reporting threshold for third party settlement organizations (TPSOs) reported on a Form 1099-K has officially dropped in 2025. This significant change, which is not the only one affecting Forms 1099-K this year, could affect various kinds of tax situations in ways your clients might not expect. What is…

  • Recent IRS Changes for Tax Year 2025: Tips for Tax Professionals

    As a tax professional, upcoming changes can be a bit confusing and maybe even stressful. However, understanding these changes now can help reduce uncertainty in the future. Here’s a breakdown of recent IRS updates and how you can navigate them effectively: 1. Increased Standard Deductions The IRS has adjusted standard deductions for inflation, affecting tax…

  • Protect Your Account: Recent Tax Fraud Scams

    Tax Fraud Scams Cyber threats are on the rise, and protecting sensitive information has never been more critical. At Drake we continue to monitor for scams and bring you the latest cyber news to help keep you informed. Some examples of recent fraud scams include:  1. EFIN Phishing Cybercriminals impersonate software providers instructing the tax…

  • IRS Tax Relief for 2025: Disasters Update

    In 2025, several significant natural disasters have impacted various regions across the United States. In response, the IRS has announced tax relief measures to support affected individuals and businesses. This article outlines the disasters and the corresponding tax relief provisions. California Wildfires and Straight-Line Winds Incident Period: January 7, 2025 – January 31, 2025 Affected…

  • 5 Tips for Tax Pros: Client Satisfaction and Retention

    Client satisfaction and retention are some of the basic building blocks for tax preparers looking to establish a sustainable and profitable practice. After all, happy clients return year after year and refer others, while dissatisfied clients may not only leave but also share negative experiences. Fortunately, there are strategic ways to keep clients engaged, satisfied,…

  • Help Clients File Digital Asset Taxes with Confidence

    Cryptocurrencies, NFTs, and More: Digital Asset Tips for Tax Preparers From cryptocurrencies like Bitcoin to NFTs and other blockchain-based tokens, digital assets present unique challenges—and opportunities—in tax compliance. Staying informed about digital assets and how they are treated for tax purposes is vital for tax professionals to serve their clients effectively. What Are Digital Assets?…