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What out-of-pocket expenses can teachers deduct on their taxes?

What teachers should know about deducting out-of-pocket classroom expenses Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be able to defray qualified expenses they paid in 2019 when they […]

Tax Planning for 2019 is here!

You can take the mystery out of your client’s future tax return today; using our Tax Planning Tool built into Wintax. Today we want to make you aware of one of our powerful tools called “Tax Planning”. This is a tool that is embedded inside your program so there is nothing to add or install. […]

5 Tips To Close The Tax Season

1. Back-Up and Protect Your Data As the tax preparer, backing up and protecting your data should be a primary concern. Making regular backups to an external storage device at a minimum of once per week is important. Imagine next week your hard drive fails. The returns you’ve done, acknowledgement reports, PDF copies, and scanned […]

Client Comparison and Batch Extensions using Wintax NextGen 2018

Towards the end of tax season, we field some telephone calls helping clients transmit extension form 4868 for their clients. When the telephone call is about finished the client will make a comment something along the lines of “thanks, one down 40 to go!”. It’s about that time Taxware customer support becomes their best friend […]

Can your tax clients claim dependents who reside in Mexico?

Original article written by LatinoTaxPro.org The Tax Cuts & Jobs Act has created massive changes across the Internal Revenue Code. One of the most impactful of these changes is the reduction of the personal exemption to $0. In previous years, the personal exemption reduced taxable income which in turn reduced the amount of tax owed. As […]

Business Owners Can Claim a Qualified Business Income Deduction

Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates.  The deduction may also be claimed on certain dividends.  Eligible taxpayers can claim the deduction for the first time on the 2018 federal income tax return they […]

Taxware Systems Client Benefit: Special Offer on TheTaxBook

As a client of Taxware Systems you are entitled to receive 10-25% off all TheTaxBook products and free shipping year-round! Excitement is in the air for the 2018 Tax Year! Your clients want to know how the changes in tax law affect their tax return and financial situation. TheTaxBook has three publications to help you […]