Running Your Tax Practice

  • Navigating Information with a Tax Documents Checklist

    As tax season gets closer, providing a tax documents checklist to your clients is extraordinarily helpful. Helping them gather the appropriate information before you begin preparing tax returns saves a good deal of time in the long run, building rapport with your customer base and easing your own workload. Individuals should gather the following tax…

  • How to Contact IRS Agents as a Tax Professional

    Tax season can be a daunting time for many individuals and businesses, and the Internal Revenue Service (IRS) understands the importance of providing accessible assistance to address your inquiries. To help you navigate the intricacies of tax matters, we’ll guide you through the various channels available for reaching the IRS and obtaining the information you…

  • How to Get a Tax ID Number

    What is a FEIN? Is it different from an EIN? What tax identification numbers should I pay attention to, anyway? Navigating identification numbers may seem complex, but it’s essential for tax preparation. This discussion aims to make things clearer, breaking down the terminology and explaining the importance of different tax ID numbers. Whether you’re a…

  • Drake Software 2023 How Do Your Tax Prep Fees Stack Up? [Infographic]

    The results of our recent tax prep fees survey are here! Drake Software conducted a comprehensive survey involving over 1,000 tax professionals to understand their pricing strategies for the upcoming 2023 tax filing season. The survey covered more than 15 questions, delving into various fee-related aspects such as: Approach to pricing tax preparation services Plans…

  • Time to Renew PTINs for 2024 Tax Season

    We are just weeks away from a new tax season, and that means it’s time for tax professionals to renew their Preparer Tax Identification Numbers (PTINs). This identification number expires annually on December 31st for paid tax professionals.  There are currently some 800,000 active tax preparers who prepare federal tax returns for a fee which…

  • Errors and Omissions Insurance for Tax Preparers

    Tax preparers play a crucial role in helping clients navigate the complexities of tax returns and related financial matters. Even with the most professional of preparers and a high level of care in your work, mistakes are often inevitable components of tax preparation. Because of this, it’s important to know your options before an oversight…

  • How To Grow Your Tax Business

    In our modern competitive market, growing your business is not only an industry advantage, but a necessity. Learning where to start in taking practical steps toward upward growth can be challenging, but we at Drake are here to provide applicable insights into how you can grow your business. In this post, we’ll take a three-pronged…

  • Tax Year 2023 Desk Reference Guide [DOWNLOAD]

    To help you navigate the busy tax filing season, we have created a comprehensive desk reference guide that includes a wide range of commonly accessed tax information. This guide covers everything from due diligence requirements to MACRS recovery periods—perfectly designed to make your life a little easier during this time of year. If you’re interested…

  • Tips for Attracting More Clients

    As a tax preparer, one of your primary goals is likely to attract more clients. After all, a growing client base is not only a sign of a successful business, but also a means to greater financial stability and professional growth. In today’s digital age, achieving this goal requires a multifaceted approach that combines a…

  • Contactless Tax Preparation – Here to Stay

    By Matt Jagst, Drake Software Head of Product     For many tax and accounting firms, methods of client interaction changed dramatically in the spring of 2020. Firms accustomed to having their clients visit the office to serve them face-to-face had to switch to a completely contactless and often remote working environment. This shift has become…