Ways to Make Money as a Tax Preparer
Tax Preparer Salary in California
By Tim Frye
Are you looking to make a good salary doing taxes in California? Well, technically, a salary is not even possible. When you prepare taxes you generally are working on a commission or hourly rate, depending on the company you are with or if you work for yourself. Set salary jobs are not part of tax preparation like they are in accounting. This article will specify the ways in which tax preparers make their money and how payment is different from a salaried job.
How to Make a lot of Money Doing Taxes
By Tim Frye
As the world grows ever more technology driven, and more of the person- to- person interaction in business diminishes by the minute, tax preparation becomes more old school than ever. This is not necessarily a bad thing. As we have seen throughout history, people will always clamor for the good old days and many will look to deal with businesses that still value direct personal and face to face relationships with their tax preparer. This article will take a look at a few ways for you as a tax preparer to make taxes fun, and to make the process personal and enjoyable for your client.
What is the Child Tax Credit?
By Tim Frye
Children are the future. And I am sure that your children are the most precious in the entire world. They are priceless. Well, actually, to the IRS they are actually worth a specific amount, depending on their age and there living situation. There can be several different benefits in claiming dependents on a tax return, especially if they are your client's own children. There is the Earned Income Credit, which is dolled out in greater proportions if the taxpayer has qualifying dependents. They will get the extra $3,800 for the dependent's personal exemption, which can be an especially potent deduction if your client is resting in high marginal tax brackets. Then there is the Child Tax Credit. The Child Tax Credit is a credit that is offered to those taxpayers who have dependents that are under the age of 17 by the end of the tax year, and it can eat away at tax liability up to $1,000 per child, depending on the taxpayers earned income totals. Let's discuss the specifics of the Child Tax Credit, and it's refundable portion, the Additional Child Tax Credit...
How Do I Avoid an IRS Audit?
There are some things in life that you simply can go without experiencing. Compound fractures, deep knife wounds, the expiration of loved ones. Oh, and IRS audits would probably sit top on that list for the majority of people, unless you are a sadist and enjoy excrutiating pain. The IRS audit, or "examination" as they have now reclassified it, is about as painful as getting a gangrenous appendix ripped from your insides without the benefit of anesthesia. So, in an effort to save your client from this horrific ordeal, Pronto Education would like to offer a few tidbits of advice as to how to assist the taxpayer in the avoidance of this treachery.
Deduction vs Credit?
By Tim Frye
When it comes to taxes, most people cringe at the thought of trying to comprehend even it's most miniscule aspects. Accountants get paid hefty fees an hour because of this fact. The tax code currently finishes off at an excess of 70,000 pages, so it's no wonder people want nothing to do with it. Our job at Pronto Education is to aid you, the tax preparer, in transposing these intricacies into a tangible, understandable, and clear format. The true foundation of taxation is the usage of deductions and credits to reduce taxable income. It is important for you to be able to designate and elaborate on the difference between a deduction and a credit. Let us jump head first into the tax pool and test the waters...