Practice Operations

  • 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…

  • 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…

  • 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…

  • Mission Statement for Tax Preparation Businesses

    A well-crafted mission statement not only defines your purpose and values as a tax preparer, but also communicates your commitment to clients and stakeholders. Whether you’re an independent tax preparer or a tax preparation firm, we at Drake hope to provide you with insights to create a mission statement that reflects your identity and resonates…

  • Due Diligence Checklist for Tax Preparers

    As tax professionals, we understand that it can be a meandering process to go from documents to declarations, fraught with potential pitfalls. Because of this, a robust due diligence strategy isn’t just a matter of regulatory compliance—it’s an embodiment of the commitment to your clients’ financial well-being and professional integrity as a tax preparer. In…

  • Choose the Best Tax Preparation Software

    In our current digital age, tax preparation software has become an indispensable tool for tax preparers, streamlining workflow and enhancing efficiency of offered services. With a myriad of options available in the market, it can be daunting for tax professionals to choose the best tax preparation software that aligns with their needs and preferences.  At…

  • Tax Help Software

    Tax preparation can be a complex and time-consuming process, especially for professionals dealing with multiple clients and intricate financial situations. To ease the burden, tax preparers have turned to technology-driven solutions that simplify and automate various aspects of tax preparation. In this article, we will explore tax help software tools designed specifically for tax preparers…

  • Best Bank Products for Tax Professionals

    In the uncertainty of the modern-day financial landscape, tax preparers possess a great deal of agency when it comes to filing accurate and compliant returns for their clients. While tax professionals’ expertise primarily resides in navigating tax codes and filing returns, it’s equally essential to recognize the impact that banking products may have on streamlining…