Category: Tax Season

How To Protect Against Phone Scams During Tax Season?

Mobile phones are among the most valued properties for everyone, whether it’s an employee or business owner. Earlier, phones were just used to make calls, but now they have all the details from personal, professional, to financial information. Cybercriminals know this, and they are coming up with new ideas to trick people. These crimes certainly increase during the tax season.  So it is crucial to stay alert and know how to protect yourself against these phone scams during the tax season. Here are some useful tips to be safe against phone scam during tax season:  Fake IRS calls are one ... Read more

New updates you should know about tax season 2021

It is almost the end of the financial year and the time to file taxes for the year 2021. With the changing economy across the globe, mainly due to the COVID-19 pandemic, many regulatory changes have been made for tax season 2021. Internal Revenue Services (IRS) have come up with credit and return reforms for the tax season. They have advised individuals and organizations to file federal taxes on time and as per requirements. Here, we try to help you understand the reforms and changes incorporated and make the tax filing easy for you. 1. Last Date for filing taxes ... Read more

Why Choose QuickBooks Hosting From Ace Cloud Hosting For Tax Season 2021

After the long and exhausting year 2020, 2021 is here, and so is the Tax Season. Just the thought of tax season can be stressful for most of us as it demands an immeasurable amount of time. Although accounting applications like QuickBooks automates most of the tasks, the unwarned IT issues put an uncalled halt to the return filing process. Moreover, the ‘New Normal’ of working from home has given rise to cyberattacks, thus putting confidential data at stake. However, QuickBooks Hosting can make Tax Season more manageable and stress-free as it adds value to the QuickBooks desktop, making it ... Read more

How to Move Your Tax Practice to the Cloud?

If you are a modern accounting firm, the chances are that you manage your accounting tasks digitally. You probably use a tax software solution to accomplish all your tax filing needs. However, with the tax season approaching in a few months, now is the time to rethink your tax strategy and consider moving to the cloud. This is one area where accounting firms and CPAs have been reluctant. However, the future appears to be promising with the increasing popularity of the cloud, enabling you to do your calculations anywhere and granting on-demand access to tax data. Here are the steps ... Read more

How can you make your tax season 2021 easier with QuickBooks hosting?

The IRS has delayed this year’s tax season start date to February 12, giving businesses some time to re-evaluate their assets. However, whether you hire a tax professional or do it yourself, tax filing is a challenge for companies because of the variables that need to be accessed. Tax season 2021 is expected to be even more challenging because of the different acts introduced due to the COVID-19 pandemic, such as the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Businesses have already been using QuickBooks to manage their reports and use that data for tax preparation. However, hosting QuickBooks ... Read more

Tax Season 2021: What CPAs need to Know

Tax Season officially begins on 12th February 2021 for individual tax filing of returns. IRS has also sent out the steps to speed up the refund process and get started with the process. This busy season often brings about a humongous amount of workload and stress for CPAs. In order to avoid last-minute hassle and missed deadlines, it is advised to start preparing for return filing early. Here is all you need to know for Tax Season 2021: Important Dates 15 January 2021: Opening of IRS Free File. Taxpayers can start their filing process in advance through Free File partners, ... Read more

Top Challenges Resolved For Tax Pros By Hosting Tax Software on Cloud

Tax management is a task imperative to every individual, business, or industry. However, for a tax professional, it often poses a burden, especially during tax season. A tax professional is responsible for the management of taxes. However, his/ her work is not limited to it. It also includes: Calculating and preparing returns Gathering tax-related information and documents from clients Staying updated with the latest tax reforms Securing data from tax frauds Keeping regular records Compiling tax strategies All of these tasks can be challenging and time-consuming. Many professionals use different tax software applications to ease their tasks. These apps help ... Read more

What Should Small Businesses Expect from Tax Season 2021?

As we head into another tax filing season, will small businesses face smooth sailing or choppy waters? That question is on the minds of small business owners and tax professionals alike. A lot has changed for tax season 2021 – from uncertainty around its start to new tax incentives and programs to help businesses weather the coronavirus pandemic and resulting economic recession. That’s why it’s a good idea to start planning for your taxes now, even if you’re not quite ready to file. With that in mind, here are a few things to think about for tax season 2021. Tax ... Read more

Tax Season 2021: Checklist For Tax Professionals

Tax Season 2021 is around the corner, and it is when most people start wrapping up their documents to be compliant with the taxes. Also, this is when people reach out to the tax professionals for help with tax filing. With several clients turning up to the tax professionals, it becomes challenging for them to keep up with their needs and the deadlines. Thus, it is advisable to prepare a plan and gather all the required information beforehand for a smoother tax season. To help tax professionals be ready and prepared for the upcoming busy season, we have curated a ... Read more