Practice Operations

  • What is the NAICS Code for Tax Preparation?

    As a tax preparer, it’s more than likely you’ve encountered the NAICS throughout the duration of your career. An essential tool for tax preparation, the NAICS can help you maximize accuracy and efficiency in the classification of businesses. In this post, we’ll explore the function of NAICS, its relevance and benefits for tax preparers, and…

  • IRS Security Requirements for Tax Preparers

    Safeguarding sensitive financial information and protecting clients’ personal data has become increasingly relevant in the tax industry. To help mandate secure practices, the IRS has set forth requirements for tax preparers to safely manage and store private information. Tax preparers can avoid unauthorized access and data breaches, which pose significant risks for both preparers and…

  • Noncompliance for a Tax Preparer

    As tax laws evolve and increase in complexity, maintaining compliance has become a fundamental cornerstone for success in the industry. In this post, your team at Drake will shed light on the potential risks and consequences that can arise from noncompliance, emphasizing the critical need for tax preparers to stay informed and up-to-date.  As well…

  • Best Laptops for Tax Preparers

    At Drake Software, we understand the necessity of having the right tools to maintain efficiency and seamlessness in your tax preparation services. In addition to utilizing our optimal tax software, one of the best resources in your arsenal is a reliable and accessible laptop computer that enables your success. We’ve prepared an extensive how to…

  • How Much to Charge for Your Services as a Tax Preparer

    As a tax preparer, developing equitable and pragmatic pricing for your services is vital for maintaining sustainability and utility. While striking a balance between offering value and maintaining your financial well-being can be challenging, we at Drake Software want to equip you with the confidence to establish effective pricing for your business. Read on to…

  • IRS Phone Number for Tax Preparers

    As a tax preparer, maintaining a thorough record of resources is vital for efficiency and achievement in your role. In addition to necessary and potentially frequent contact with the Internal Revenue Service (IRS) via phone, you will likely need to establish connections with other tools and websites that contribute to your success as a tax…

  • Generative AI in the Tax and Accounting Profession: Friend or Foe?

    Artificial intelligence (AI) is regularly a hot topic in the news, and you may have recently heard about Open AI, Generative AI, or specific products like ChatGPT. As a tax and accounting professional, you might be asking, “What does all of this mean, and should I care?” To answer those questions, let’s take a look…

  • Drake Software 2022 How Do Your Tax Prep Fees Stack Up? [Infographic]

    The results of the How Do Your Tax Prep Fees Stack Up? survey are in! Drake Software surveyed 3,620 tax professionals to learn what they plan to charge for tax preparation services during the 2023 filing season. Respondents answered more than 15 questions covering fee-related topics, including: How they intend to charge for services Whether…

  • Cloud Applications and Remote Work for Tax Pros

    Drake Software and Right Networks are collaborating on this three-part series highlighting different software solutions available to tax professionals. In part three, we look at how cloud application hosting facilitates remote work. What was once seen as a quirky anomaly at Silicon Valley startups, remote work emerged as a viable alternative for many businesses—including small…

  • Three Ways to Run Software for a Tax Practice

    Drake Software and Right Networks are collaborating on this three-part series highlighting different software solutions available to tax professionals. This week, we’re focusing on the ways you can run software in a tax practice.    The tools tax professionals use to run their practice are constantly evolving. From appointment scheduling and document management to research…